The commonwealth. (Greenwood, Miss.) 1896-1923, 1906-01-05

tIbIpunul1 BTdLtlul u the ptIHilttnl
Being whose sIeepless eye and t~ireless
hand guides the bird in its painless
course, makes plain the proper ways of
men, n shapes the destiny of nations,
for the unprecedented material pros
perity enjoyed by the people of Mlssis-
sippi for the two years Just passed, l
congratulate you, my countrymen-the
immediate representatives of the peo-
ple--upon the favorable auspices I'M
der which you reassemble to perform
the functions of the important Offices
which you hold. The people of Missis-
sippi ave not only enjoyed most mar
velous material prosperity, but in edu-
cation and thought there q been
marked progress, and in matters pouti-
cal great ethical growth, This latter
/ attribute largely to the transference
OF political power and authority from
the boss-dominatcd convention to the
patriotic white suffragist who rules the
State with his ballot. deposited at the
primary election.
A great deal is expected of this Leg
islature. The character of the men
who compOse it iustifies that expec-
tation, and the e~xigencies of the situa-
ton demand that that expectation be
fulfilled; and also, that every hope en-
tertained 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 an
ticipatory of future necessities. One Is
just as important as the other. The
idlluIe 10 provide lot eltltT WOuiu De
extremely Unfortunate and mark a de-
gree of reCreanCy, which a true MissiS-
sippian is incapable of. The RESPONSE
bilitfes doTolving upon a legislator are
far-rcaching in their consequences ana
varied in their character, affecting vi
tally the veal or woe of the people
whose commission he holds.
Financial Condition.
The State Treasurer's report discloses
an unsound condition in the States
finances and emphasizes the necessity
for immediate remedial legislation. The
promptly met and the public faith sa-
credly preserved. Scientific tinancier-
ing and the broader craftsmanship con-
denim the policy of borrowing from the
fund collected to defray the expenses of
the State government for the year
1906, to pay the current expenses 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 def
cit in the treasury brought about by
the failure of the last administration
10 issue bonds, authorized by an act OF
the Legislature, approved March 2,
1900, to raise money for the purpose
of erecting a new State House" That
act authorized the issuance of one mill
ion dollars of thirty-year 4 per cent,
bonds. Instead of issuing the million
dollars of bonds to pay for the new
State House. the cost of erecting the
building 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. The
deficit, therefore, which confrontS lis Is
not altogether chargeable to the pres
ent administration, but 1t comes to us
as a legacy from our predecessor. To
supply in part that deficit the Legisla-
ture, by an act entitled IAN act to au-
thorize the issuance ~ State bonds for
the purpose OF defraying the expenses
Of the state government. approved
March IS, 1904" authorized the Gov
ernOr to issue five hundred thousand
dollars of bonds. In pursuance of said
act, in the manner II form prescribed
therein, ] sold at par to n. w. Harris &
Co, of Chicago, ILL.,, Give hundred thou
sand dollars of thirty-year bonds of the
State of Mississippi. payable in ten
years or any time thereafter at the OPP
ton of the State, bearing interest at
the rate of three and one-half per cent,
nually.' The proceeds from this bono
sale were covered into the Treasury, as
will be shown by the records of that
Office. Fearing that that amount would
ury for the year 1908. the Legislature,
by an act entitled IAN act to raise
revenue TO carry on the State govern
ment of Mississippi for the years 1904
05. approved March 90, 1904" author
ized the Governor to borrow when
ever necessary during the year 1895,
three hundred thousand dollars at a
rate of interest not to exceed five per
cent. per year., payable on or before
January Is, 1906" In pursuance of
that act, and by the authority thus con-
ferred upon me, ! borrowed three hun
dred thousand dollars from the Missis-
sipp' Ban and Trust Company, of
Jackaon, Miss, for which amount | gave
eight notes for $25, 900 each, and two
notes for $4,000 each, dated July !.
1905, payable January Is, 1906. and
hHaTlDp interest at ihn Tlt o -pT I've nGr
cent ter annum. ! trust that you may
provide for the payment of these notes
at maturity, and thereby AVOID any
possible inconvenience to the bank
which handled the matter for me upon
exceedingly favorable terms to the
State. | might have been able to have
borrowed this money at four and one
half per cent. interest, but in order 20
have done so would nave been forced to
have taken it for a longer time than
six months. Confronted, as we are,
with a deficit in the Treasury, let us
consider the remedies at hand In my
Judgment there are but two Ways out
of the trouble. Either issue bonds to
pay for building the Capitol and fur
nishing II. which cost in round num-
bers 81, 200, 900, or increase the tax levy.
] think the former the wiser course to
pursue. There is no justice in making
the present generation pay with money
worth ten per cent. for building the
Capitol and furnishing it, when the
SIllt cam bbIIbW lit IliblltN at tlItt
per cent. and thereby put a portion Of
the burden upon the coming genera
tions who arc to enjoy the use and BEN
efits of the Capitol.
The condition of the States finances
calls for prudence, wise economy, deep
concern for the honor of the State, anu
fnvokes the higher order of statesman
shin to handle the situation properly.
Everything that savors of e~XtravaganCe
or prodigality should be avoided. as we
should also avoid everything that
smacks Of tine ~niggardlv and parsimOni-
Gus. The peOrle of Mississinni are able
to bear any burden of taxation or do
anything that may be necessary for the
moral, educational and material pros
peritv of the people of Mississinni. The
anrount Of mnrev invested for the good
of the neonle IS Of no concern, n we are
sure that the money thus invested will
yield profitable returns and that the
peor1e win ho made better and richer
for tho Investment.
7 submit tho matter to your greater
wisdom. confident that you will do that
which Is best.
The Penitcntiary.
In my inaugural address, delivered
before the joint session of the Legisla-
ture of Mississippi, January 10, 1904,
discussing the penitentiary manage
ment, | recommended the abolition OF
the Board of Control and substituting
therefore a department of the State
government to be under the direction
and control of II capable man, select
ed as the Legislature may provide,
whoes duty it shall be to direct and
supervise the working of the convicts
as the law may prescribe" The rea-
sons then urged for the proposed
are equally cogent now, aud applica-
BILE to present conditions,