The Palatka news and advertiser. [volume] (Palatka, Fla.) 1908-19??, 1913-03-14
OUTLINE OF THE POLICIES
OF GOVERNOR TRAMMELL
viii be Published in Short Install.
ments to Invite Public Discussion
Before Legislature Meets.

Tallahassee.-Gov Park Trammell
has decided upon the policy of pub
fishing from time to time before the
Legislature convenes for the infOrma.
ton both of the Legislators and of the
people an outline of the policies
which he will recommend in his for,
nal message to the legislature that
will assemble in Tallahassee April 6.
The governors object in doing this
is to invite discussion upon his re-
be the best way OF stimulating a help
full public sentiment with regard to
the merits Of defects of his pro
posals; also, to acquaint the lcgisla-
they have but little tine after the ses.
sion cOnyengs to consider the COVER
nors message.
Among the recommendations which
following:
Il respectfully recommend that
law be enacted changing the legal
rate of interest from to 6 per cent.
to be charged by contract be changed
from 10 to s per cent. 1t has now
been twenty-five years since the pres
int law fixing the legal rate of inter-
est in this state was enacted With
in this time conditions have wonder
fully changed. Our state has quad
rupled in population and developed
remarkably in the scope and value of
all her industries and resources. The
rate of interest suggested by me is
equally as reasonable in our state at
the present time as the rate now al
lowed was when fixed in 1891. AS
evidence Of the fact that the rate sug-
gcsted by me is reasonable, a large
majority Of the banks and individuals
lOaning money on contract now re-
Quire not exceeding per cent. In
fact, much capital is now loaned in
Florida at slightly lower interest
charges, and business men generally
consider a return of e to s per cent
upon money loaned a good invest
ment. 1t is not believed that the
amendment of the law here suggest
ed would in the slightest degree re-
tard the investment of capital or the
extension of loans. 1t would merely
be adjusting the statutes of the state
to the changed conditions Of the
times. Most of the southern states
now have a lower legal rate of inter-
est than is fixed by Florida, and it
has come to be generally recognized
that both in business practice and as
a governmental policy, lower interest
rates should preyail-large enough to
give reasonable returns to the lead
ers, but, on the other hand, low
enough not to work a hardship on
those who have to borrow, and also
to encourage those who would borrow
capital and invest it in industrial de-
veloEsnent.
"A constitutional amendment to
abolish the office of county treasurer
at the expiration of the terms of the
present incumbents, should be sub
mittcd for ratification or rejection by
the electors at the next general cleo
tion. In my opinion the amendment
should provide that the county tax
assessor shall perform the duties now
incumbent upon the county treasurer
It is a well known fact that the duties
connected with the office of county
treasurer require but little time and
work from the person filling the Of
fee, and that the compensation paid
therefore is entirely out of proportion
to the responsibilities assumed or the
work actually done. These duties
could be discharged by the tax asses
sor without interfering with his du'
ties as assessor