Virginia citizen. (Irvington, Va.) 1891-1921, 1906-02-09
IRVINGTON, VIRGINIA. FRIDAY. FEBRUARY g. 1906

of through rates. thus permitting u.
to be undersole ia The markets OF
our own State.
Invites Capital and immigration
x We should invite capital
TO come TO Virginia and make profit.
able investment aud to aid in de-
Seloping our resources, aud when
is comes we should make it safe and
secure, treat it justly and fairly.
x immigration has wisely been
made a part of the Agricultural De-
partment of this state. This de-
partment with the means at its dis
posal has managed this feature IN tel
ligentiy and with success. 1t has
been Instrumental in bringing to
this State several thousands of
splendid immigrants from the North
west, who have purchased homes
and now constitute "a part of our
best citizens and most prosperous
farmers. Virginia cannot af-
ford to be indifferent TO immigra-
ton. There is great scarcity of
farm labor in this state which must
be supplied. Not much more than
half of our land is under cultivation.
Progress and prosperity demand that
this uncultivated half should be con.
verted into fertile and yielding
farms. Wisdom requires
that we should as nearly as possible
endeavor to control and guide the
character Of this immigration so
that it may bring rs an elevation,
not deterioration of citizenship.
Better have no immigration, better
let much of our land remain waste
and unoccupied than to have inject
ed 10 our populations persons whose
principles are menace to civiliza-
ticn and presence a curse to society.
Insurance and Banking.
Another matter demanding
legislation is the creation jointly or
separately, as may seem better, of q
Department of banking and lnsur.
ance and the enactment of some ad-
ditional legislation controlling those
two businesses in this State. Banks
are indispensable to modern CON-
merce aud business. They facilitate
exchange and thus vastly increase
trade and commerce. x No ag-
gresslye, energetic, progressive or
commercial people can afford to be
deficient in banking facilities or des-
tltute of sufficient banking capital.
To prevent their creation and sue
cessful operation on legitimate and
safe lines, or to hamper them by un-
necessary restrictions or inspections
would be suicidal. But, as great as
are the advantages to community
of bank run safely and conserva.
lively, equally as disastrous are the
effects of one run recklessly and un-
scrupulously. = They should
be sufficiently examined by capable
and honest official to ascertain their
solvency and whether their assets
are impaired or not, and see that the
laws controlling them are obeyed,
X The benefits derived from
both life and fire insurance are vast
and innumerable. Insurance is so
promotive of public good that it
should be encouraged and no legs
lation should be enacted that would
retard its use or proper extension.
But, there should be legislation and
supervision in this State of both life
and fire insurance in order to secure
as far as possible the solvency of the
companies conducting business here,
the clearness of contracts and divest-
ing them of ambiguous and misIead-
ing statements, to obtain reasonable
rates and to prevent the rates charg-
ed in Virginia from exceeding those
In other States possessed of similar
conditions.
Revenues and State Debt.
The time is now opportune for Vir-
ginia to commence an era of educa-
tional progress, of internal improve
ment and developement, which her
deficient revenues heretofore have
prevented. We have recently re-
duced our taxation upon real and
personal property, but, we
now have a substantial surplus of
revenue which can be utilized to the
betterment of this state in all direc-
tions. On the 30th of September of
last year, after deducting all charges
and appropriations already made, we
had surplus in our treasury of
1886, ,613.39. The Auditor estimates
cur revenue the current fiscal year at
$4,253, ,404.20, and our expenditures
under existing law, So, ,939. 20,
giving us an annual surplus of $579,-
464.50 which can be appropriated for
new purposes. This annual surplus
next year will be further increased to
the extent of about $S4, 4,O95.15, when
the taxes are collected on the new
assessment of real estate. Thus the
treasury will have, under existing ex-
penditures, an annual surplus of
$663, $50 65, ,and the present accumu-
lated surplus of $2S6,613.39. The
financial affairs of the State are most
favorable and have surpassed the ex-
pectations of the most sanguine.
But because the resources of our
treasury are abundant, it is not time
for reckless expenditure, wasteful ex-
travagance or doubtful appropria-
tions. Nations, like individuals, in
the time of prosperity and abundance,
must exercise caution and pradence,
or else they will undertake ventures
which bring bankruptcy and disaster.
| would feel derelict in my duty, false
| 10 nau hicrh frnnt ,f nhonlA Ell a !.