The comet. (Johnson City, Tenn.) 1884-1916, 1911-01-05
DENIES SPR'PHECYOF DEFICIT
Says Treasurer is Either Ignorant
of Affairs of His Office or Has
Tried to Injure the State

democratic candidate for state
treasurer and insurance commits
sioner, throws down the gauntlet
to Reau E. Folk. Mr.. Rice takes
issue with Mr.. Folk in the treas
ury deficit, making the controver.
/ sy between the comptroller. and
treasurer a tree-cornered affair.
He makes the unqualified asser.
tion that Mr.. Folk is either gross.
| ly ignorant of the affairs of his
own Office or that he has launched
an effort to injure the credit of
the state. He says that the legit-
innate effect of Mr.. Folks proph-
ecy is to chain Tennessee again
to the rock of discredit. The
statement follows:
"The question in the mind of
every man who understands the
situation at the state capitol is,
What does this controversy be-
Comptroller Dibrell and Treasur-
er Folk mean?' Mr.. Folk, the
treasurer, has advertised to the
world that there will be deficit
in the state treasury on January
l, 1911. Mr.. Dibrell, the comp
troller, declares without qualifi-
cation that there will not only be
no deficit, but that there will be a
considerable balance in the treas
ury on that day. If the public
announcement of Mr.. Folk is cor
rect, the management of the f.
nancial affairs of the state has
been outrageously bad, and needs
immediate investigation. If the
official declaration of Mr.. Dibrell
is true, Mr.. Folk is either grossl
ignorant of the affairs of his own
Office, or he has wantonly launch
ed an effort to injure the credit
of the state.
LAS candidate for treasurer,
in the exercise of my right, l
have made an investigation, and
have discovered that Mr.. Dibrell
is entirely correct, and that the
scare cry sent out by Mr.. Folk is
absolutely without foundation in
fact.
" In view of this revelation, the
taxpayers of Tennessee have a
right to know what motive has
impelled Mr.. Folk to saddle the |
charge of temporary bankruptcy |
Il pom the state, to their injury |
and to the injury of the public |
credit. Will not the question
rise to every lip, What object
lies behind this unwarranted as
sault upon the commonwealth !?
"It is inconceivable that a
nan who has been in control of
our treasury for ten years could
become suddenly lost in the fiat
woods of a plain sum in addition
md satisfaction.
eff Mr.. Folk is in possession
if the knowledge that there is no
impending deficit, is it not re-
in him to say that
here is, when so much is in
-olved in the effect of his public
ltterance ? The time is near at
land when the state debt must
,e refunded, in the process of
which her resources, her pros
'erity and integrity must play an
part in fixing her
redit before the world. Why
eek now to impair that credit
nd put cloud upon every busi-
ess interest within her borders ?
els Mr.. Folk seeking to chain
tennessee again to the rock of
iscredit where the financial vul-
ures may again feed upon her
itals =?
81 do not lay such motive at
is door, but such is the legiti.
1ate effect, and it was his boun-
en- duty as treasured the state, {
ccurately to know these things /
efore becoming a prophet of !
vii.
F" No treasurer before him, to
1y knowledge, has ever fallen
nto such error, 4
ttThe counfro11er in tho ha- ,