The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-08-29
at LaWrencevile Claude 4. Swanson Opens His Campaign for

~ NVHTNE IIuVVb ISHUU ITO UDDTODrIW-
ton bill under the constitution which could
have put burdens or debts upon the succeed.
ing administration.
Statement OF Finance.
But. my fellow citizens. tho assertion
that there was II deficit Is not true. | have
had a most thorough examination made OF
tho auditors office by it's officials and nv
experts, and can demonstrate beyond any
possibility of contradiction to any fair
minded man that instead Of there being n
dcficit in the treasury for the incoming nd
nilnlstration. there was n small balance
that could he utilized by tho general assem-
bly, for future purposes. My opponent
asserts that Governor Montague. when he
retired us governor. left In tho treasury n
surplus OF SOLO 600. and that when | retired
there was Il deficit. l am ready to prove
that | left q larger real balance In the
treasury than my predecessor r. Governor
Montague. When Governor Montague re-
tired on the first OF February. 1905 there
was an apparent balance In the treasury OF
1894 .602 .23. Against this amount there
were outstanding school warrants which
had already been issued by the state auditor
and were held by the su pcrintcndeuts of
schools. or by tho loval. county or CITY
trcasurers TO tho amount OF s 1884 ,O3l 20
Warrants for this amount had been issued
by the auditor and not charged uD on the
auditors books. under the law MS it then
existed. The law then in forue left these
warrants to be charged up on the auditors
hooks after they were endorsed by tho state
supcrintcndcntS OF schools and returned by
the local trcasurcrs to the state treasurer.
Deducting this amount OF outstanding war
rants already issued from the apparent bal
nncc in the treasury. makes the real balance
on the first OF February. 1906. IdO.57IO
In this was included as All asset. SOS. li2. 80.
being the amount due by the Planters and
Mechanics Bank OF Petersburg which had
failed in 1857. and which was not worth
the paper on which IL was written. This
amount had been improperly carried on
tho books OF the state for all OF these wears
as cash In bank. The general assembly Of
1908 saw the folly OF carrying this amount
as nm asset and ordered II to be charged
off by an act Of February S. 1908. Doductin9
the amount OF this worthless asset from tho
aforesaid nominal balance OF 8 l4O, ST.. O3.
left the real cash balance in the state treas
ury on the first Of February. COG, the day
I ssumcd the office OF governor. 5 20. I2s. "a.
The general assembly OF 1905. disappearing
policy OF the auditor issuing school war
rants and letting them remain for an In
definite time In the hands of the local
treasurers and officials. ana not charged
against tho cash In tho treasury until tho.
were returned. changed the law and directed
that they he charged against the cash i'm tho
treasury Immediately upon their issuance.
Mann Received Balance.
On the first of Feb. 1910. at the begin
ming OF business on that day. the day ny
49, h'hANN aIhi NfbNtl ll1I aldIn y term ~
gan. the amount in the treasury was s7S7
las. and on the same day school warrants
were issued and charged against the cash in
inc treasury under tho law as amended to
the amount Of S5lS.526.i3. leaving an actual
net cash balance In the treasury OF the state
OF S26S. o22.67. as of that date. Now this
exceeds the amount OF real balance in the
treasury on the first day Of February, laO6.
when | assumed the office Of governor. by
Sl96.4o3.0 i. But II may be commended by
I MN thar IN. To-
ment OF the balance ms OF that date. vet tho
appropriations included In the bills which 7
had signed had not all been paid. This is
partly true But after these appropriations
had been paid there was still II surplus left.
inc appropriations by the terms OF the gem
eral appropriation bill expired on the 2Sth
day OF February. and We find that on tho
first day OF March. 1910, the bala nee I'm tho
treasury Is sl76. 0Sl Oh. This amount was
let after all the m had been made
under the last appropriation bill signed by
me. After this date the amount paid on
account OF appropriations made by tho
general assembly OF 1908. which could not
extend further than March. 2S, 1910. under
the constitution, amounted to SlS.S57.5i.
After the m OF this amount the last
cent had been paid for which | as governor
could in any way he held responsible. De-
Quoting this from SIG .0Sl. % lea YES a cash
surplus OF at least Sl57 224.t3. During
the four years OF my administration tho
NfNS 'fhNt Nsitf,NDt-il 0uI n nj
revenues in tho purchase and retirement OF
the bonds OF the state. These were pur-
chased and retired before they were rcnuircd
To he paid under the terms of he settlement,
and reduced the principal OF the state debt
III this amount had been allowed to remain in
the treasury the real balance after the M
ment of all appropriations for which was
responsible would have been S7O7. lS5 ,
During the term OF my predecessor. Governor
Montague. the amount paid for the purchase
II nD TnffrnTNnTf Of tnfA $3.50
1927.
Does Not Favor ID
] do not favor tho accumulation of n largo
surplus in the treasury. The money In the
treasury after providing for "A safe working
balance should be used in the payment of
the state dent. or expended for the benefit
OF the people. This was the policy of my adj
ministration. | do not favor the policy
which seems to be advocated by my oppo-
nont OF having a large balance I'm the state
treasury to he deposited i'm the banks for
thclr profits and not for the use of the people
VINO pay the taxes from which this surplus
Is accumulated. The Democratic nolicv
mas been that the receipts and expenditures
shouid he Kept as closely together as the
proper administration Of government busi-
ness VIII permit. ! also wish to say that in
my inaugural address and various messages
10 The general assembly. | constantly urged
the necessity Of economy. and that thccx-
pchdltures should be confined entirely
within the Limitations OF the revenue, Of
me state. The official record in the andi.
Tors office viii sustain my contention that
TINS policy was strictly adhered / o by the
TWO LEGISLATURES Of my administration. NV
opponent is reported in many OF his speeches
as saving that during my administration
the school fund was robbed OF 500 900 (
ana TINS amount transferred to the general
iuhd- am at a loss to kncw the slightest
foundation for this charge. Instead Of the
SCHOOL 1nnd hpin- l.rr.,-.l IL I
administrators the APPROXIMATION 70 ,ha
primary schools OF the state were increased
curing the four years more than 5 | 500 900
ne statement that the school fund was
deprived OF 100000. either by bookkeep-
my orpy law Is a fabrication pure and sim
pie. ! invite MIR. Glass TO point ou, ony-
ming OF this kind that occurred during IN,
tlnc was governor. 1t is surprising that n
chndidatc for high office should reprn,cd,v
NUKE ihlSc statements and misrrprrsrnta