The Grenada sentinel., 1906-01-06


To the Senate and House of Represent
atiyes:
profoundly grateful to the beneficent
bemS whose sleepless eye and tire1ess
hand guides the bird in its pathless
course. makes plain the proper ways OF
men, and shapes the destiny of na'ions,
LOT the unprecedented material pros
Perlty enjoyed by, the people of Missis-
ESlppl. Tor the two years just passed, 1
congratulate you, my countrymen--the
immediate representatives of the peo-
Ple-upon the favorable auspices un-
DER which you reassemble to perform
the functions OF the Importance offices
winch you hold The people of Missis-
Slppf have not only enjoyed most mar
Seious material prosperity, but In edu-
cation and thought there has been
marked progress, and in matters pouti-
Sal great ethical growth. This latter
attribute largely to the transference
OF political power and authority from
the boss dominated convention to the
patriotic white suffragst who rules the
state with his ballot, deposited at the
primary election. -<'s
A great deal is expected of this Leg
lsiature. The character of the men
VINO compose it justifies that expec-
Iation, and the eXigencieS 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
tlcipatory of future necessities. one is
Just as important as the other. the
failure to provide for either would be
extremely unfortunate and mark de-
gree of recreancy which n true MisSis-
siippian is incapable of. The response
oilities devolving upon legislator are
1ar-reaching 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 fnancier-
Sng and the broader craftsmanship con-
denim the policy of borrowing from the
1und 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 def
cit in the treasury brought about by
the failure of the last administration
to 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 per cent.
ponds. Instead of issuing the million
state House, the cost of erecting the
building and furnishing 1t 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 us is
not altogether chargeable to the pres
'ent administration, but it comes to US
as legacy from our predecessor. To
supply in part that deficit the Legisla-
fure, by an act entitled "an act to au-
fhorize 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 and form prescribed
therein. sold at par to n. w. Harris 4
Co, of Chicago. Ill. five hundred thou
State of Mississippi. payable in ten
years any time thereafter at the op-
ton of the State. bearing interest at
the rate of three and one-half per cent.
per annum. interest payable semi-an-
nually." 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
mot meet the demands upon the Treas
ury for the year 1905, 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 %, 1904" author
jzed the Governor to borrow when
ever necessary during the year 1905,
three hundred thousand dollars at
rate of interest not to exceed hVe per
en per ~ on o
that act, and by the authority thus con-
ferred upon me, 1 borrowed three hun
.dred thousand dollars from the Missis..
.sippi Bank and Trust Company, OF
jackson, Miss, for which amount l gave
eight notes for s25000 each, and two
notes for $4,000 each, dated July /,
1905, payable January Is, 1906, and
bearing interest at the rate of five per
cent. per annum. / trust that you may
provide for the payment OF these notes
at maturity, and thereby AVOID any
i1on
b (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 have 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 it. which cost in round num-
bers s1,200,000, or increase the tax levy.
i 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
state can borrow the money at three
Der cent. and thereby put a portion or
the burden upon the coming genera
fions who are to enjoy the use and ben
aefits of the Capitol.
The condition of the States finances
calls for prudence, wise economy, deep
Concern for the honor of the State, ana
fnvo<es the higher order of statesman
shin to handle the situation properly
Evervthing that Savors of extravaganza
or nrodiga1ity should be avoided. as we
should also avoid everything that
.smacks of the niggardly and parsimOni-
ous. The people of Mississipni are able
to hear any burden of taxation or do
onvthin e that may be necessary for the
,noraI. educational and. material pros
nnr;tv of the people of Mississippi The
ppmo1int of money invested for the good
of tbe people is of no concern, if we are
.Drre that the money thus invested will
1yie1d profitable returns and that the
2aoDle will be made better and richer
}or the investment
submit the matter to your greater
/ z,isdom. confident that you will do that
A4yhich is best ....
Tn my inaugural address, delivered
s>efnre the joint session of the Legisla-
/. IRE of Mississippi, January 19, 1904,
5iscussing the penitentiary manage
,ent / recommended the abolition or
InenR @ Roard of Control and substituting
tthherefore a department of the State
snnwernment to be under the direction
S,d control of one capable man, select
ado an as the Legislature may. provide.
hoes ed duty it shall be to direct and
wnsoryise the working of the convicts
suPtha law may prescribe" The rea-
as Inv tben urged for the proposed
SOHS "a ~ m cement