Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1909-10-29
FIGURES ON
TREASURY SURPLUS
In Clear and Logical Statement,
State Treasurer Analyses Condi-
ton of the Treasury, Showing
Up Surplus.

State Treasurer J. Pope Brown esti-
mates that the state will: on January ],
1910. have, a surplus of Sa.056.503.l9 with
which to begin the payments Of appropria-
lions for 1910. Mr.. Brown makes this as
sertion in a well prepared and logical
statement which he gave out Tuesday al
ternoon. dealing with the condition OF
the treasury
The statement follows:
II have received so many inquiries as
to the financial condition of the state
that have sought carefully to ascertain
the facts. -.,-.
while the treasurer is not charged
with the duty of financing the state, still.
feel that the people are entitled to know
the result OF my investigation. =.
The states fiscal year runs from jan.
uary TO December 81. inclusive, and most
OF the discussion has been upon what
would be the condition OF the treasury at
the close Of the present year.
THE TWO. QUESTIONS.
''The two questions that have been I'M
der consideration are, first. how much
cash win be in the treasury on January 1.
next; and second, what viii be the true
condition of the treasury, crediting assets
and "deducting liabilities on January /,
next?
Confusion has been caused by treating
these two different propositions as though
each had the same meaning.
AS a result OF the most thorough in
vestigation. am confident there Will be
ample cash collected during December to
meet every liability which may be pre-
sented on January 1.
'srhe exact amount OF cash which will
be in the treasury. on January /. next.
must depend largely upon how rapidly
taxes are paid in December. &C.
with cash enough in the treasury to
meet the immediate liabilities OF the state
at that time. the question. of real import
ance is, what will be the true condition
Of the treasury, crediting assets and de-
Quoting liabilities? Or. in other words.
how much balance will there be after col
Letting the taxes and paying the appro-
priations for 1903 with which to meet ap-
preparations for 1910?
WILL HAVE SURPLUS.
After a most thorough. investigation
find that with the close of the present
year. IL the state is charged with all un-
paid appropriations for 1909 and credited
with cash on hand and taxes for 1903 still
10 be collected and collectible, the state
will have a surplus of $2.O56, 5OS.19 with
which to begin the payment Of appropri-
atoms for 1910. -.'-.
(. The question arises. with such a sur
plus at the first of the year, why are
not all claims OF the school teachers met
promptly as they mature?
The bulk OF the income OF the state
is from ad valorem taxes Their col
lection begins in October. increases In
November, December and January and
continues even beyond April. The heavy
collections are in December and jan
uary. -
THE monthly revenue of the state. out
side OF ad yalorem taxes, is hardly suf-
hcient to meet current expenses over
ana above the required payments upon
the public debt, and appropriations for
pensions and public schools
Under our present. law we must pay
sS5000oT TO pensions in February In
terest on the state bonds together with
500, 900 set apart annually for the sinking
fund, will tax our surplus to the amount
OF $4,000. This only leaves little over
s650.0Oo Of the surplus to be used for pay
ing teachers and other bills before the ad
valorem taxes begin to come In in Novem-
Der, 1910.
The surplus OF s2.O56. 5O3.1s gives ample
money to meet the calls on the treasury
until some time during the summer From
that time until the ad valorem taxes be-
gin to come in all the teachers'claims can
not be met unless other current liabilities
are left unpaid.
ABOUT PENSIONS.
IF only half OF the pensions had been
paid in February and half had remained
TO be paid from the ad valorem taxes
in December. this would have left $4T5.0 900
of additional cash. In the treasury That
would have covered the school claims
which, have been presented so far this
year.
This condition of the treasury is moth.
ing new. II is the natural result of
making appropriations payable during a
given year and relying upon the taxes not
collected until the last of the year with
which to meet payments.
Georgia is in better financial condi-
ton today than at any time for years
We win carry over larger surplus from
1909 with which to pay appropriations
for 1910 than we carried over from 1903
with. which to pay appropriations for
1909
Our surplus is. therefore. increasing.
II pensions are paid semi-annually and
the legislature holds appropriations 10
their present figures. through the increase
OF taxable values the surplus will soon
be sufficient 70 meet all liabilities as they
mature.i including amounts payable to