Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1911-08-30

for future purposes. My opponent
asserts that Governor Montague,
when he retired as Governor, left
in the treasury surplus of S54O,
10000, and that when l retired there
was a deficit. l am ready to prove
that / left larger real balance in the
nor Montague. When Governor
ruary, 1906, there was an apparent
balance in the treasury of sS94,6O2
%: against this amount there were
outstanding school warrants which
had already been issued by the State
Auditor and were held by Superin-
tendents of Schools, or by the local
county or city treasurers to the
amount of s754,031.20. Warrants
for this amount had been issued by
the Auditor and not charged up on
the Auditors books under the law
as it then existed. The law then in
force left these warrants to be
charged up on the Auditors books
after they were endorsed by the
State Superintendent of Schools
and returned by the local treasurers
to the State Treasurer. Deducting
this amount of outstanding warrants
already issued from the apparent
balance in the Treasury makes the
real balance on the first of February,
1906, S140.51 1.0S. In this was In
Guided as an asset S6S,142.30, being
the amount due by the Planters and
Mechanics Bank of Petersburg, which
had failed in 1887, and which was
not worth the paper on which it was
written This amount had been i'm
properly carried on the books of the
State for all Of these years as cash
in bank, The General Assembly of
1908 saw the folly Of carrying this
amount as an asset and ordered 1t to
be charged off by an act of February
Sth, 1908. peductipg this amount
of this worthless asset from the afore-
said nominal balance of S140,5 1.03,
left the real cash balance in the State
Treasury on the first Of February,
1906, the day assumed the Office of
Governor, S72,42S.7S. The General
Assembly Of 1908, disappearing the
policy of the Auditor issuing school
warrants and letting them remain
for an indefinite period in the hands
of the local treasurers and officials
and not charged against the cash
in the treasury until they were re-
turned, changed the law, and directed
that they be charged against the cash
in the treasury Immediately upon
their issuance. On the first Of Feb
ruary, 1910, at the beginning Of bust
ness on hat day, the day my term en-
ded, and Governor Mann's began, the
amount in the Treasury was $1S7,
449.10, and on the same day school
warrants were issued and charged
against the cash in the treasury
under the law as amended to the
amount of S518,526.43, leaving an
actual net cash balance in the treas
ury Of the State of S26S,922.67, as
of that date. Now this exceeds the
amount of real balance in the treas
ury on the first day Of February, 906,
when l assumed the office of Cover
nor, of S196,493.94. But it may be
contended by some that although
this is correct statement of the
balance as of that date, yet the ap-
preparations, included in the bills
which had signed, had not all been
paid. this is partly true. But after
these appropriations had been paid
there was still q surplus left. The
appropriations by the terms Of the
general appropriation bill expired on
the 2Sth day of February, and we
find that Oh the first day of March,
1910 the balance in the treasury is
6,081.94. This amount was left
after all the payments had been made
under the last appropriation bill
signed by me. After this date the
amount paid on account of appropria-
tions made by the General Assembly
Of 1908, which could not extend
further than March 2Sth, 1910, under
the constitution, amounted to SIS,
S51.5l After the payment of this
amount the last cent had been paid
for which l as Governor could in any
way be held responsible. Deducting
this from $176, 0S194 leaves cash
surplus of at least S157,224.43.
During the four years of my admin
istration the State had expended
S549, S54.4T out of the revenues in
the purchase and retirement OF the
bonds OF the state. These were
purchased and retired before they
were required TO be paid under the
terms Of the settlement and reduced
the principal of the State debt.
If this amount had been allowed to
remain in the treasury the real bal
ance, after the payment of all ap-
preparations for which l was respon-
sible, would have been S707, 1853.
During the term Of my predecessor,
Governor Montague, the amount paid
for the purchase and retirement of
, State bonds was s199, 1854
do not favor the accumulation OF
large surplus in the treasury. The
money in the Treasury after provid-
ing for safe working balance should
; be used in the payment OF the State
debt, or expended for the people.
This was the policy Of my admins
tration. I do not favor the policy
which seems to be advocated by my
opponent of having large balance in
, the State Treasury to be deposited in
!, the banks for their profit and not for
| the use of the people who pay the
, taxes from which this surplus Is ac-
{ cumulated? The Democratic policy
! has been that the receipts and ex-
/ penditures should be kept as close to-
| gether as the proper administration
~ .