The Providence news. (Providence [R.I.]) 1891-1906, 1906-01-09

To the Honorable the General Assembly:
During the past year the state has been
signally prosperous in its material affairs.
Important changes made last session in
the laws affecting some OF our depart
ments, experience has demonstrated 10
have been Improvements over old ways.
The people have been visited by neither
-tlis44steF-f4+4f.s seFlaas- disturbance. and your
honorable body assemblies under most
happy conditions.
At the last session OF the general as
sembly an act was passed relative to the
revenue OF the state. which is chapter
1916 of the public laws. II provided for
an increase OF the revenue, which eXpe-
rience had proven was required to meet
current expenses. AS a result OF this law
the state was enabled 90 meet all OF its
expenses during the year 1905. and there
Is no doubt that 1t will be able TO do the
same this year, unforseens excepted, The
law Increased the revenue for that portion
of last year which II affected by about
N52 600 and from the same sources should
come during the present year an Increase
OF about $4,000 over the revenue OF the
wear 1901 BY the help of this increase the
state was rot only enabled 10 meet It's ex-
penees I'm the year 1905 but was also
able 10 slightly reduce It's floating indebt-
edness.
ECONOMY STILL DEMANDED.
II is estimated that for the year 1906
the income from the present sources VIII
be about 81 800 coo, and it is safe to say
that the current expenses Will amount 10
not far from 81, 900. This latter amount
includes all salaries and fixed charges
authorized by existing laws. but II does
not include what may be required for the
support OF the state sanitorum for con-
sitmptives for the completion Of the state
census for the interest and sinking FUND
charges incident TO the issuance OF bonds
for the state roads Improvement and the
state armory I'm Providence authorized 10y
the people at the election I'm November
or for any new work upon which the
state might enter
For the sanitorlum and the expenses
attending the bond issues there will be re-
uuired 100000 at least Besides these GER
tain expenditures. there may be others
growing out OF calls for unused appropri-
ations authorized 10y previous general as
semblies amounting TO about $4,000. II
will be seen. therefore, that while our
financial condition Is much better than IT
was y year ago. IL Is stll a condition de-
manding economy and great care I'm the
expenditure of the public money. and for
this economy and care the state is abso-
lutely dependent upon the general assem-
bly,
sembly it will be necessary To authorize
the bond issues for the Improvement OF
the state roads and for the building Of
the new state armory I'm Providence, both
OF which issues have been approved by
the people. / would suggest that In the
framing OF laws under which these bonds
are issued due consideration be given 10
the advice OF the general treasurer, and
that the money to come from the sale OF
the bonds be placed in his custody and
keeping. The experience OF his depart
ment I'm placing previous issues OF bonds
should be ~ great service 10 the public,
and u Is wise that the financial interests
of the state should be held closely to-
gether
INSURANCE LEGISLATION.
During the past few months public at
tontion has been drawn 20 tho business
methods OF certain life insurance compan-
ies which have solicited and are still So
llcitlng business in this state. The inves-
tlgatlon which has brought 20 light these
methods has apparently been thorough ana
without prejudice. AS a result OF the
revelations made. and OF the suepicions
aroused. there is throughout the country
a growing belief that legislative action
should be taken TO protect the interests
OF polcyholdcrs especially since life In
rurance has become SO much OF savings
investment for many people.
n would NOT no eu~prfginR therefore.