The Forrest City times., 1907-01-18
MO-. IS.

sions of corporations 10 sfugleness of pur- pose as at the common law.
 I woted suggest that the legislature pass law Prohibiting a .nan or a corporation or othef association of persons. who owp stock one corporation engaged In the manufafure of any article of trade, from owning ftock In like corporation engaged m the uianufacturc or the producing for the marketsl Ia like product because 1t tends to suppress competition at all points where the preduetf tfFef the two corporations could be sold Tn rhe same market Also a corpora ton shJiid not he allowed to engage in any businesj exrept that provided for by it's ehafteri and no corporation ought to be al lowed " own stock in another corporation. wa1 to caln your attention to the fact that at a common law corpora ton cotid not own land except so much as was absolutely necessary for it's corpo rate putpose. but under our law they can beeome Banded aristoerats. the landed arts. tocracyIof this country. Therefore. I ask you to bass law Absolutely prohibiting a corporation from owning any land except such asits absolutely necessary for its cor. porate purpose mefely do not mean to takei from corporations the lands they already have. but to prevent further qusltioi of lands by them except for purely Corporate purposes
 ALIEN OWNERSHIP OF LAND.
 ohe pI the most important subjects t which I can call your attention gentlemen. Is the fownership of the landed interests of our State. !.
 As as resume and recapituiation of thfa subject gentlemen, insist that 1t Is your duty first, to absolutely prohibit by law any nonresident or n-resldent corpora tion fRHS hereafter owning one foot Of land ink Arkansas, except for corporate pur- poses. Second, submit an amendment to Atnfft ft.tftR rHt tAk tion ta4 may be placed upon all land which Is not actually occupied by its owner. Third. pass law to prohibit land grabbing. Fourth.i amend the Constitution as to absolutely exempt the homestead from taxa tion exsept for road purposes, and make It impossible for the owner to cucumber 1t with any kind of lien except for improve ments br the purchase money. Give to every man the opportunity to acquire . home, and exempt that from any kind of liability other than those which I have suggested -
 A PROBABLE DEFICIT.
 A great deal has been recently said by the Arkansas Gazette as to a probable defi. cit in the general revenues of this State on July 1st. 1907 ip criticism of speeches made tk me In the recent campaign I The general revenue fund Is the fund in which it Is insisted that there will appear deficit of s1os,o00 on the first of next July. As I do not expect to exercise the l powers' of the Governors office after this l day, I shall not be responsible for the course .of events after t.is time: but have tits toesaysfthat If any deficiency is made to appear In the general revenue fund of the State on the 1st of July or at any other time, 1t will be the result of earelessness and mismanagement. not to employ a stronger term. When I recon mended . reduction In the general revenue tax rate levy I khew exactly what I was doing. I neither, acted in ignorance of the true condition of the finances of the State, nor with Ia reckless disregard of the claims of slaaea honest creditors. I knew that if the A4611ging officers of the State did their duty. as l had tried to do mine. In the materx of assessing the railroads there would be 6 largely Increased taxing basis from which to raise funds to supply in some degree the reduced amount result Ing from the smaller rate levied. Then I took notice, of the fact that many of the more recent ~ fopriations were for the erection of bfRnanent State buildings. which would not be made again for many years to come In addition to this. there are many other items temporary in character, which do not constitute q perma- nent charge A{ktnst the general revenue fund. sisNow, gentlemen, there Is no occasion for a deficiency the 1st of next July, or at anxspther time; nor is there the slightest 6kfaise for seeking at the hands of this Legislature an increase in the tax rate back to the old rate repealed by her last legislature. . The tax ought not to be increased. If fairly tested and it appears that the amount of money raised by existing levies will not meet all the present liabilities provided for by law. then It will be the part of wisdom for my successor to do what I dd-go over the several items of liability and determine where. in the light of present day necess1- ties, the same cah be reduced without i'm pairing the effectiveness of the State gov ernment.
 desire to call your attention to the further fact that when I assumed the duties nf the Governors office on the 18th day of January, 1901. we had in the State treasury to the credit of the general rev. enue fund--money turned over to my ad. minstiatiqn by my predeeessor-S221.- .- 421 .9S, which Is but $3o,5s609 In excess of the amount we have on hand now. Now. gentlemen. taking into consideration that within the last two years We have spent upon public buildings of a permanent char acter xi7S,00O. which will not again be tax upon the general revenue fund and but for the erection of fhese buildings this money would have been in the treasury to the credit of this fund I feel that ! can truly say that I have turned over to my successor a larger amount of ready cash and permanent Improvements than was turned over to me, and at the same time taxation upon the people of the State has been reduced. And assuming that the ex- penscs of this legislature and ordinary run ming expenses Of the State government will not exceed what has been usual and GUS tOmary heretofore with wise and economi- cal administration of public affairs, I see no reason for alarm about the question of a deficit In our public revenue; at least. gentlemen. 1 lack only 1000 in round numbers of turning over to my successor much cash In the general revenue fund as w,s turned oyer to me. and I also turn over to you these splendid permanent lm- proyements. which you will not again be called upon to- make and if you cannot run the State Government with this splen- did showing without having deficit on the 1st day of Iniy of the present year. then the responsibility rests with you and not with me.
 CONCLUSION
 In conclnsiap., feel that it is not in- proper for nle3to say that am proud of the conditions of our State: that I am proud of her achievements and fhe history