Times-promoter. (Hernando, DeSoto County, Miss.) 1898-1970, 1908-11-27
GOVERNORS STATEMENT
Financial Condition Of Mississippi Ex-
planned by Chief Executive.

ldS0 HScdl year, DegIlHlnS OcbOD0i
1st, 1907, according to the published
report of the State Treasurer, opened
with only S2,319.72, in cash on hand
and with unexpended appropriations
of $967, ,377.01, constituting deficit OF
$685., ,O57. 20. The Auditors report
shows 80, ,65O.07, of the then outstand-
ing warrants. On January 31st, 1908,
intervening collections had settled
all outstanding warrants and left in
the Treasury 1,15O, ,637.47.
On October 1st, 1908, the beginning
of the current fiscal year, practically
identical financial conditions existed,
"a, $50. go, in cash being on hand and
outstanding warrants and unexpended
appropriations being about the same
as those of October 1st, 1907. Last
year, my official predecessor earnest
ly requested, as I do now, that all
tax payers who can conveniently do
SO, pay such taxes as are due, with
out waiting for the last permissible
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
1st. At this time last year, $50, $500
of the Penitentiary crops had been
marketed, up to this date, as against
only $6,534.01, 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 and
with about $15, 600. 90 cash. However,
as collections from now till January
4st, will not much more than pay or
dinary expenses, and the ChickasaW
School Fund interest,", the $500, 900 90
of Confederate Pensions, payable this
month, would necessarily have Gre
ated deficit until the January col
lections. This was foreseen and
called to the attention of the Legisla-
ture. One branch Of the last Legis-
lature declined to make any provis-
ion for the emergency which now
confronts us. The two preceding Leg
islatures had each authorized the is
suance of $500, 100000, of bonds, and
of borrowing of several hundred thou
sand dollars, additional, temporarily,
all for current State expenditures.
It's improved conditions would have
enabled our State successfully to have
dispensed with such bonds and bor-
rowing, had it not been for the retir-
ing of $500, 100000 of per cent. bonds
last year, before the sale Of but $780,
10000 of the $500, 100000, 8 IL bonds,
whose proceeds were to be used only
for such retirement, one series Of
bonds being intended to be substi-
tuted for the other, but 1858, 10000
from the general funds in the Treas
ury were used in retiring the $5OO,OOO.-
90 of bonds; and 3 1-2 per cent bonds
to that amount are now on hand and
are unstable, because the act author
izing their issue specially limits the
use of their proceeds for contingency
now past, the retirement of 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 sufficient to meet legis-
lative appropriations. The appropri-
ations of the last Legislature aggre-
gated $6, ,523, 1901. The States Rev
enue for the year ending September
3oth, 1908, was $3,3S2, ,O5O.97, and for
the current fiscal year, is estimated
by the Auditor, at SO, 1886, .96, ag-
$6,674, ,7O0.93, which would
leave a surplus of $14s, 10000, for the
two fiscal years, notwithstanding the
cutting off Of liquor licenses, which
license in the past fisaal year amount
ed to $139, $4,000. The States total
indebtedness exclusive Of the school
funds held in trust, amounting to ST. |
1886, 1877 .58, and on which only interest
IS ever to be paid, is 81, ,253, ,029.07. OF
this amount 81 900, 10000, is for bonds
issued in 1904 and in 1906, to defray
expenses Of the government.
The State can now pay as it goes, ex-
,ept possibly for d few months in the
'all, Just before the large collection
IF allvalorem taxes. IT coull have