The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1908-11-21
GOV. NOEL ON
STATES FINANCES
The Governor Gives Out Stat.
ment as 10 the Condition of
States Treasury

JU0lO IL ICQSUI
Below IS a statement issued by
Gov. Noel on Nov. II, as TO condition
OF the States finances:
Our last fiscal year, beginning
October lst, 1907, according to the
published report uf the State Treasur-
er, opened with only S2,319.72. in
cash on hand and with unexpended
appropriations OF 1907, ,377.O1, consti-
tuting d deficit Of 1865, ,O57.29. The
Auditors report shows &9.65O.O7, of
the then outstanding warrants. On
January 3lst. 1908, intervening COL
lectionS had settled all outstanding
warrants and left in the Treasury
81, $50, 637.47.
On October lst, 1908, the beginning
of the current fiscal year. practically
Identical financial conditions existed,
81, $50. 80, in cash being on hand and
outstanding warrants and unexpended
appropriations being about the same
as those Of October lSu, 1907. Last
year. my official predecessor earnestly
requested, as do now, that all tax
payers who can conveniently do SO,
pay such taxes as are due, without
waiting for the last permissible day;
and that all tax collectors make pay
ments to the State, as soon as practic-
able after making collections.
All warrants were paid, this year,
On presentation uutil about October
ist. At this time last year, $50, $780,
70 OF the Penitentiary crops mad been
marketed, up to this date, as against
only $6,534 OIL, this year, though
much more will be realized very soon.
Had the marketing of this crop been
as expeditions as that Of last year,
this month would have commenced
with all outstanding warrants paid
aud with about SIS, 600 90 cash.
However, as collections from now till
January lSt, will not much more than
pay ordinary expenses, and the Chick.
asaw School Fuud interest, the $780,
0e0. 90 Of Confederate Pensions paya-
have created deficit until the Janu-
AIRY collections. This was forcseen
aud called to the attention Ut the
Leg glslature. One branch OF the Leg
iSlature declined Co make any pro-
vision for the emergency which now
confrOntS us. The two preceding
legislatures had each authorized the
issuance Of $500, 900. 90, OF bonds, and
of borrowing Of several hundred thou
sand dollars, additional, temporarily,
all for current State expenditures. Its
improved conditions would have en-
ahled ucr State successfully to have
dispensed with such bonds and bor-
rowing. had it not been for the retir-
ing OF $500. .OOO. 90 Of 6 per cent bonds
last year before the sale Of but $780,
500 90 Of the $500, 600. 90, 81 per cent
bonds. whose proceeds were To be used
only for such retirement, one series
of bon Is being Intended t" be SubSti
tuted .or the other, but 1868, 500 90
from tile general fund in the Treasury
were used in retiring the $500, 600. 90
Of bonds; and 81 per cent bends to
th.i H,n,u,tG a,e now on hand and are
uu,alaDe, because the act authOriZ-
ing Lneir i>>,ie specially limits the use
of their proceeds for contingency now
past. the retirement Of q per cent
| bonds
The State Treasury, but for this,
would have had ample funds to have
met every obligation this year, and
and next. on presentation. For the
first time in about five years, the
State Is revenues are sufficient to meet
legislative appropriations The ap-
propratiunS Of the last Legislature
aggregated St. 6.523,7lO 81. The -aie's
Revenue for the year enuing Septem-
Der 3Oth, 1908, was 50, 332 .OG0. 81, and
for The current fiscal year, is eStimat-
ed by the Auditor, at S3,335. .649. 96,
Iaggregating $6.674, 70O.93, which
would leave surplus Of Sl48, ,990.O2,
for the two fiscal years, notwithstand-
ing the cutting eff Of liquor licenses,
which license in the pas fiscal year
amounted to sl39, $4,000. The State S
total Indebtedness exclusive of the
school funds held in trust, amounting
to 50, ,338. 1877 So, and on which only
interest is ever to be paid, is 81 ,253,-
lO29.O7. or this amount 1000, ,OOO.-
90, is for bonds issued in 1904 aud In
1906, to defray current expenses of
the government. The State can now
pay as it goes, except possibly for a
few months in the Fall, just before
the large collection OF ad valorem tax
les. It could have done SD then, IL the
1868, 500. 90 of bonds had not been re-
tired from general funds, or II q
temporary loan had been authorized,
or IL the pension money had been
made payable on or after the middle
of January. The State should be
scrupnlously prompt in meeting its