The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1907-12-13
A TREASURY DEFICIT.


Present unfortunate financial cond
tons in Tennessee emphasize the NJ
cessity for the strictest economy cor
sistent with good government in tn
expenditure Of the public funds. Fron
present indications the state treasur,
Is going to be dangerously near, If !
does not actually have a deficit earl!
during next year. The balance at the
last statement Of the Treasurer wal
about 100000 less than the balanct
for the corresponding period OF last
year. In addition there IL nearly Z
third OF a million dollars in appropria
tons that are charges upon the treas
ury and which VIII have to be met at
an early date.
Since the first of the year expenses
in nearly every department of the
State government have geen In
creased In times of plenty and pros
perity the people do not exercise that
watchful care over the expenditure Of
public funds that they do when money
becomes tight and taxes constitute a
real burden. Unfortunately this con-
dition now exists in Tennessee.
Although the tax rate remains the
same there is bound to be reduc-
ton in the revenues Of the State next
year as a result Of the financial de-
preston. The delinquent tax list will
be much heavier; values will neces-
sarily depreciate and privilege and
taxes will show a marked
falling of. For the past four or Ave
years taxes have been promptly paid
and the delinquent list has been ex-
small and for these rea-
sons the revenues have been large. |
This was due to the prosperous condi-
ion of the State.
But with financial depression the
merchants will reduce their stocks
Ind this will naturally be followed by
| reduction in the advalorem taxes.
That the merchants are making radi-
al reductions in their stocks is evi-
fenced by the action which the Job
'ers of Eastern cities contemplate TAX
ng to stop the cancellation of orders
rom all points in the South and West.
is stated that orders given for next /,
pring's goods are being cancelled by :
he wholesale, and concerted action
J to be taken by the jobbers to meet !;
his situation. 7
With greatly increased expenses and Z
aduced revenues II does not take a a
nancier to tell what the effect will i
g on the treasury Of the State Al r
sady the balance is less by $500, 900
ian it was last year, and before the =
rst Of the year the appropriation of .
10000 for Peabody Normal College n
ust be met: on January appropria- n
pms to the schools Of approximately -
$4,000 will be paid out being an
crease of $125,00O over the appro-
iation the year before. The follow
g unexpended appropriations consti-
te charges against the treasury and
nst be met at an early date: For
e repair of the Capitol annex, $15,-
0: for the establishment Of a re-
'matory, 10000; for the experiment
Ition, $4,000 [
II these amounts nearly half mil
n dollars Is in excess of the appro-
ations that had to be met a year
}. The last Legislature, acting I'M
: the recommendation Of the Cover.
:. was the most extravagant in the
tory of Tennessee: salaries and al
vances to officials we're increased
every department from that Of the
cutive down to the pay Of the peni- II
tiary guards. Unfortunately the
pie are in no condition to bear the
ed burden and a deficit, the first in
years, is not only possible, but
'gether probable. %,
between the expenses We
he State government this year and IN "a
will prove profitable reading It We
easy to vote away the peoples a. 81.
ley. Executives and legislators Int
nd he given to understand that a.
avagance will not be permitted In ev,
nessee TO