The citizen., 1911-12-15
The Governor Outlines the First
Section of his Message.

The Governor Outlines the First
Section of his Message.
Governor Crothers has been busy at
the State Capital preparing his message
for the forth coming session OF the Gen
eral Assembly He believes the people
at large should know OF the various rec
concentrations which the Executive has
10 make to the law-making bodies. The
greater part OF the section deals with the
State debt together with an itemlzed
statement OF the various State resources.
The Governor begins with the follow
ing statement OF the financial condition OF
the State at the end OF the fiscal year 1917:
Gross receipts in treasury 5. 100, 49,. IS
Cash balance in treasury
proper September 50.
1910 ACKNOWLEDGEMENTS. So5. IoI.I6
Total. e,6SI. .6o4. 81
Less disbursements during
the wear ......................... S,IIo,oS3.e7
Cash balance in treasury Sep
tember 50. 1911 ........-..... St.47I. $1,000
Cash balance in treasury sep
tembeT 50, IeIO..........-.... o75.HI.Io
In excess Of the year previous S5e6 4oe. IS
These amounts. the Governor con
tinues. represent the largest sums of
money ever received into and disbursed
by the State Treasury Department and is
occasioned BY the proceeds from bond is
sues, together with payments hereunder,
viz. State roads loan and hospital loans.
Notwithstanding these large disburse-
ments the fiscal wear closed with an ex-
cess of cash balance on hand as above
SHOWN.
The gross debt Of the State at the
close of the fiscal year was $40, 42S. 926 IS,
or sum in excess of that OF the year pre-
vious of g. 500. 600 on account of the bond
issues for State roads. public highways
and hospital loans. Alter deducting,
however, the bonds in the sinking funds
amounting to S5,I7.37e.72 and other as
SETS OF the State. aggregatlng S.. o93 SAG
r. the net debt OF the State IS S3.735, o76.-
II. with the securities therein al par, the
value OF which is far in excess OF that
amount More was carried 10 the credit
OF the several sinking funds during the
year than heretofore. including States
own stock amount to S4o5. 600.
Ii full credit for the actual value of the
Northern Central Railway annuity were
claimed which has been variously esti-
mated at from s., 500 COO to S, 600. 600,
instead OF its par value OF SI.5oo.o 900. it
would reduce the apparent Indebtedness
OF S3,735,o76.4r to s., 235,o764I.
When II is remembered that within
the last three years there has been issued
s.. 1000 Of road bonds. $4,000 of
road and bridge bonds, $500, 900 OF in
sane hospital bonds. SIOo, 900 of tubercu-
Iosis sanatorium bonds, making in the
aggregate S4,45o, 900, the net State indebt-
edness as shown above of s., ,235 o76.4I.
or but little more than halt the amount OF
the recent bond issue as above stated,
shows a most gratifying condition of the
finances Of the State
But this splendid condition must not
be permitted 10 induce us to be more ex-
iravagant in our expenditures but rather
10 suggest increas5d d and more rigid econ
omv. because it Is only by the practice of
economy in the different departments of
the State government that such a finan-
cidl condition could be secured and the
additional burdens on the State Treasury
in the future, TO which shall refer later,
more in detail. would in itself make such
a policy necessary.
Economy is an essential condition of
progress, and il We are 10 have the money
that shall be required to carry on the
different constructive projects in which
the State Is now or will hereafter be en-
gagged, it must be by reducing to the
lowest possible minimum, the expenses
OF the State government, and money not
required to meet the legitimate costs of
government should be left in the pockets
OF the taxpayers to carry on the private
business affairs Of the people.
II this policy is adhered TO and con-
tinued. il will be but short time until the
rate Of the State levy can be reduced to
II Or u cents on the sloo.
Under the authority and direction of
the Act Of Assembly OF 1910. a general
assessment Of all the property OF The State
outside Of Baltimore CITY was made. and
a return OF al the counties. except three
returns from which are not yet I'M
shows an increase OF the stupendous sum
Of 5 5000. COZ in the taxable basis OF the
Stale aud very striking evidence Of its
material progress and growth.
The Governor concludes with de-
tailed statement Of the sources uf the
States revenue