Greene County herald. (Leakesville, Miss.) 1898-current, 1908-11-20
JACKSON.
The States Financial Condition.

The States Financial Condition.
To the Tax Collectors and Tax Payers of
the State of mississippi:
Our last fiscal year, beginning October
a, 1907, according to the published re-
port of the State Treasurer, opened with
only $2,319.72 in cash on hand and with
unexpended appropriations of $685.
377O1, constituting deficit of $685.
O57.29. The auditors report shows So
65O.07 of the then outstanding warrants.
On January /, 1908, intervening collec-
tions had settled all outstanding war
rants and left in the treasury $780,
637.47.
On October /, 1908, the beginning OF
the current fiscal year, practically iden-
tical financial conditions existed, 81
$4,000 in cash being on hand and out
standing warrants and uneXpended ap-
preparations being about the same as
those of October l, 1907. Last year my
official predecessor earnestly requested,
as I do now, that all taxpayers who can
conveniently do SO, pay such taxes as are
due, without waiting for the last per-
missible day, and that all tax collectors
make payments to the State as soon as
practicable after making collections.
All warrants were paid this year on
presentation until about October 1. At
this time last year $60,980.07 of the
penitentiary crops had been marketed,
and up to this date, as against only
$6,534O1 this year, though much more
will be realized very soon. Had the mar
keting of this crop been as expeditions
as that of last year, this month would
have commenced with all outstanding
warrants paid and with about $4,000
cash. However, as collections from now
until January l will not much more than
pay ordinary expenses and the Chicka-
saw school fund interest, the 100000
of Confederate pensions, payable this
month, would necessarily have created a
deficit till the January collections. This
was foreseen and called to the attention
of the Legislature. One branch of the
last Legislature declined to make any
provision for the emergency which now
confronts lis. The two preceding Legis-
latures had each authorized the issuance
of $780, 900 of bonds and of borrowing of
several hundred thousand dollars addi-
tional, temporarily, all for current State
expenditures. Its improved conditions
would have enabled our State success
fully to have dispensed with such bonds
and borrowing had it not been for the re-
firing of 100000 of per cent. bonds
last year, before the sale of but $136, 500
of the 100000 49, per cent. bonds,
whose proceeds were to be used only for
such retirement ON one series of bonds,
being intended to be substituted for the
other, but $363,500 from the general
funds in the treasury were used in retir-
ing the 100000 Of bonds, and 313 per
cent. bonds to that amount are now on
hand and are unstable, because the act
authorizing their issue specifically limits
the use of their proceeds for contingency
now past, the retirement of 6 per cent.
bonds.
The State treasury but for this,
would have had ample funds to have met
every obligation this year, and next, on
presentation. For the first time in about
five years the States revenues are suffi-
cient to meet legislative appropriations.
The appropriations of the last Legisla-
ture aggregated Sc, 3,71001. The
States revenue for the year ended Sep
TENDER 80, 1908, was $685. 5O.97, and
for the current fiscal year is estimated
by the auditor at $685. 5,64996, aggre-
eating $6,674, 7OO93, which would leave
a surplus of $148, 10000 for the two ifs
cal years, notwithstanding the cutting off
of liquor licenses, which license in the
past fiscal year amounted to $139,65O.
The States total indebtedness, exclusive
of the school funds held in trust, amount
ing to $2,336, 1878, and on which only
interest is ever paid, is 1928, 029.07. OF
this amount $1,0O0,000 is for bonds is
sued in 1904 and 1906 to defray current
expenses of the government. The State
can now pay as it goes, except possibly
for few months in the fall, just before
the large collection of ad valorem taxes.
It could have done so then if the $685.
500 of bonds had not been retired from
general funds, or if a temporary loan had
been authorized, or if the pension money
had been made payable on or after the
middle of January. The State should be
scrupulously prompt in meeting its every
obligation at maturity, setting an exam
pie to its citizens, and should live within
its income. The power instructed to me
has been, and shall be, used toward eff
fecting these -be-desired purposes.
E. F. NOEL, Governor.