The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-03-23
Figures Show State Bonds Mere
Retired During Swanson
Administration.
GRAvATT VOTED FOR BILLS
Head Of Democratic League on
Record as Favoring the
Expenditures.

ator Claude y. swanson willie he was
Governor of Virginia. \ statement
| made by c. B. Garrett, general man
agcr Of the ncw Virginia Democratic
League. Indicated that the former Gov
crnor had been guilty OF bad financial
management and that largo surplus
had been converted by him into da-
felt.
At the time Governor Swanson ven,
| out of office he received general ap-
plauso from ali quarters for his adj
ministretion Of affairs Among other
newspapers. The Times Dispatch at
the time editorially indorscd his admin
istration. Therefore some attention
has hcen directed TO the matter, and
there have been questions as 10 the
facts in the case. These arc obtanable
from the Office Of tho Auditor of Public
Accents.
1t is not denied that the Governor is
TO an extent responsible for appropri-
atoms that arc made. The General
Assembly passed the general bill APP
proprating the public revenue. and the
Executive. if he signs It, is equally ro-
spons!ble with the members Of the
Legislature.
Voted for Bill.
Records of the Legislature show that
DR. c. u. Ciravatt Of Caroline, presi-
dent Of the Virginia Denocra ti,.
=
ate voted for the general appropria-
ton bills of zoos and 1910, which spcnt
the money with what General Mana ger
Garnet gays was cxtravagance. 1t
was suggested yesterday that joint
debate between the president and the
general manager of the league as to
whether or not the former was cxtrav
agant would be interesting
The AUDITORS reports show that oil
the day when Governor Swanson was
inausrratcd. February /. 1905, the bal
s sga In the treasury Of the State was
$ssi,6o22s On the day when he
stepped down. four years later. and
turned the relns over to Governor
Mann. there was s7s7.iia.lo in the said
treasury. III addition. during these
four years, on the recommendation Of
Governor Swanson. the Legislature had
fused s5i9S5i.47 OF tho current rcve-
MUGS for the purchase and retirement
OF State bonds, using its surplus in
this way. By this means s59e,4oo OF
the State debt was retired
Gain OF Lnrse sum.
This means that. counting the cash
when Governor Swanson went out and
the bonds purchased Voluntarily during
the real surplus when his four years
ended, making a gain OF s442,7O1.3i
over the amount when he took Office
| II should be remembered that the
state was under no obligation to pur-
chase these bonds. but did so volun-
tarily, using its surplus in this man
ncr.
1t might, however, be contended that
q comparison as Of February is un-
fair. Taking, then. tho end Of the ap-
propria ton year. which Is March l it
| is noted that on March l. 1910. every
appropriation made during Governor
Swanson's term was either paid and
discharged from tho treasury or else
| had lapscd and could not be used with
out new appropriation. On March !.
| 1910. when all obligations OF the State
under any bill signed by Governor
Swanson ceased there was tho sum Of
s176.0 sl.3!. Adding TO this tho bonds
there is q total of s7e5. 936.41 Of sur
plus at the expiration Of the Swanson
! regime,
Gould Pay Sinking Fund.
| Il is true that during Governor
| Swanson's last year the amount appro-
| prated TO Ro into the sinking fund
was not paid. but under the settlement
| with the bondholders 1t was not re-
| quired 10 be paid until 1910. Had it
been paid on March /, 1910 there was
the money III the treasury for that
| purpose. and a small cash balance
| would still have been left.
/ In the last year of Governor Swan
sons administration the sum of $685.
| 600 was spent by the state for good
| roads. AS there was not a penny
| spent in this way during the last year
| OF the preceding term, il will be seen
4 where the increased revenue went in
K! part. For education, during Swanson's
| last Year. the sum of s563,343.4S was
spent-nore than during. the school
| year Of 1905 For the same years the
| increase was Sl56,267.50 for higher in
| stitutions Of learning Several hun
dred thousand dollars more was spent
for pensions. All pensions were paid
| term.
| TaScs Not Rniscd.
| No taxes were raised, 1t aDpears dur
/ ing his four years excepting OH liquor
| No money was borrowed nor interest
paid. The revenues OF most States de-
| clincd during the panic year of 1907
| ana Just following It,. but III Virginia
| for the two years just after the begin
ming Of the panic, the revenues were
! $4,000 more than during tho previous
! two years, Governor SWansons friends
/ thus arguing that his policies paid fol-
| themselves.
/ The following recommendations arc
I found in the three messages OF Cover.
| nor Swanson to the General Assembly
| The financial affairs Of the Stat.
! are most favorable, and have surpass
/ ed the expectations of the most san.
| guinc. But because the resources Of
/ our treasury are abundant, 1t Is no.
! time for reckless expenditure waste
(, full extravaganza or doubtful appro
! priations 7 would feel derelict in m,
| duty. false to my,high trust. If should
| fail to impress upon the present Gen
), cral Assembly the necessity for STRIFE
economy and the utmost care in the
| expenditure of public money.
"a portion Of this annual surplu!
should be used TO reduce our bondet
Indebtedness. q wise debtor wher
nc finds himself possessed Of a sur
plus over current expenses, prepare:
for an cxtin guishment OF a portion o
! his outstanding obligations.'--In
augural address. February l. 1905
Economy Necessary.
II wish 10 impress upon YOU III
necessity Tor strict economy and tn