Greene County herald. (Leakesville, Miss.) 1898-current, 1906-01-05
VOL VIII
synopsis Of The
Governors Message.

jackson, Miss, Jan. 3rd. Upon the
convening of the legislature to-day the
message of Governor james X. Var
daman was read. The following are
its salient points:
To the Senate and House of Repre-
sentatives:
Profoundly grateful to the bene-
ficent Being whose sleepless eye and
tlreless hand guides the bird in its
painless eourse-makes plain the pro-
per ways of men, and shapes the des-
tiny of nations, for the unprecedented
material prosperity enjoyed by the
people of Mississippi for the two
years just passed, | congratulate you,
my countrymen-the immediate rep
resentatives of the people-upon the
favorable auspices under which you
reassemble to perform the functions
of the important offices which you
hold. The people of Mississippi have
not only enjoyed most marvellous pros
perity,, but in education and thought,
there has been marked progress, and
in matters political, great ethical
growth This later, / attribute large
ly to the transference of political pow
er and authority from the boss-dom-
mated convention, to the patriotic
white suffragist who rules the state
with his ballot deposited at the pri-
mary election.
" A great deal is expected of this
legislature-the character of the men
who compose it justifes that expecta-
tion, and the exigencies of the situa-
ton demand that that expectation be
fulfilled; and, also, that every hope
entertained or prediction made of
your wise action during this session
shall be realized. The work to be done
Is both remedial of existing conditions
and anticipatory of future necessities.
One is just as important as the other.
The failure to provide for either
would be extremely unfortunate and
mark degree of recreancy which a
true Mississippian is incapable Of.
The responsibilities devolving upon a
legislator are far reaching in their
consequences and varied in their char
acter- affecting vitally the veal or
woe of the people whose commission
he holds.
Finances.
Concerning the financial condition
of the state the governor says that the
state treasurer's report indicates an
unsound condition and emphasizes the
necessity for remedial legislation. Con
tinuing on this subject says: "The
obligations Of the state must be
promptly met and the public faith
sacredly preserved. Scientific finan-
clering and the broader craftsmanship
condemn the policy Of borrowing
from the fund collected to defray the
of the state government for
the year 1906, to pay the current ex-
penses of the government for the year
1905. That policy has been in vogue
for the past three or four years. 1t
was resorted to for the purpose of
overcoming a deficit in the treasury
brought about by the failure of the
last administration TO issue bonds au-
tborsszed by an act of the legislature
approved March 2, 1900, to "raise
money for the purpose of erecting q
new state house. !" That act author
lied the issuance of one million dol
lars of bonds to pay for the new state
house, the cost Of erecting the build
ing and furnishing it were paid out
of funds intended to be devoted to
the payment Of the normal current ex-
penses of the state government. This
deficit therefore which confronts us
is not altogether chargeable to the
present administration, but it comes
to us as a lesson from our predesces-
sor. To supply in part that deficit,
the legislature by an act entitled an
"act to authorize the issuance Of
state bonds for the purpose of defray-
ing the expenses of the state govern
ment approved March 18th, 1904, !"
authorized the governor to issue FIVE
hundred thousand dollars of bonds.
In pursuance Of said act, in the man
ner and form prescribed therein, I
sold at par to N. w. Harris & Co., Of
Chicago, H., "five hundred thousand
dollars Of thirty year bonds of the
state Of Mississippi payable in ten
years or any time thereafter at the
option of the state, bearing interest at
the rate of 3 IL per cent per annum.
interest payable semi-annually" The
proceeds from this bond sale were
covered into the treasury as will be
shown by the records Of that Office.
Fearing that that amount would not
meet the demands upon the treasury
for the year 1905, the legislature au-
thorizd theetao etaoi etaoi etaoin m
thorized the governor to "borrow
whenever necessary during the year,
1905, three hundred Thousand dollars
at rate Of interest not to exceed 5
per cent per year payable on or be-
fore January 18th, 1906" In pursu-
ance Of that act and by the authori-
ty thus conferred upon me, I borrowed
three hundred thousand dollars. /
might have meen able to have bor-
rowed this money at 4 "a per cent
interest, but in order to have done so
would have been forced to have taken
it for longer time than six months.
as we are with deficit
in the treasury, let us consider the rem
edies at hand. In my judgement there
are but two ways out Of the trouble.
Either issue bonds to pay for building
the capitol and furnishing it which
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