The Brinkley argus., 1913-01-24
.ss, s,1O7, ,S2O.oO
Kept Free of Debt

Nept FTec or Ocpt "All of this has been procured dur ing my administration over the show ing of any other administration during the entire history of the state; and all without increasing the rate of tax ation and without running the state in debt.
 Now, as to the present condition of the states finances:
 "As matter of fact, the state does not at the present time owe anything to anybody, except the few dollars before mentioned, and that item Is scarcely half of the debt which my ad- ministration inherited from my prede- cessors in office. As further evl- dence of this fact, no one can point to a single individual or corporation 10 whom this state does now owe one dollar
 "The states financial condition is much better now than when took charge of the governors office. On October 1, 1904, there was large bai' ance of more than s500,000 remaining to the credit of the general fund, but which, before the beginning of my ad ninistration had been reduced to al most nothing. The cause of this was that the state had been spending more money out of the general revenue fund than it had been putting into it. There were several ways at that time of shifting the account, to-wit: The drawing on surplus of more than s500000 left to the credit of the gen eral revune fund in 1901, and the leavs ing of that account in debt so that future administrations would have to provide for it's liquidation.
 Dealing in Future Eliminated.
 Former administrations also had the advantage of the complex system of keeping accounts and making set dement's as heretofore set out 'Bi- ennial reports, settlements etc., never came at the beginning or ending of any administration. Drawing on flu tllre revenue also was practiced, and if bad showing was made the respon- sibility could not be located The ex- tent to which this flexibility of the states finances could be operated was limited only between these two ex- tremes: That of exhaustion of more than S500000 remaining to the credit of this fund on October 1, 1904, and the anticipation of the states incom- ing taxes before such taxes were due to be paid These alternatives being deficiency was bound to occur That crisis was at hand when took charge Of the governors office. The auditors report to the governor in 1906, an1 all succeeding reports, are proof Of this statement.
 Then I had the difficult task of running a sinking financial state Of affairs into one of such in) s-,' propositions as would talk
 normal condition But ilf
 being normal, it resolved .Alo an abnormal condition. The resources te revenue were depressed to the loNcs ebb, while the demands on the gen. eral revenue fund were at their high est stage. I met all of these adverse conditions, paid all demands, kep' the state out of debt, increased the assessments of property, stopped the trend. provided for addi- tional revenue from other sources, and all without increasing the rate of tax alton.
 Good Work Required.
 "The situation, therefore, is very much over that which existed whe. assumed the responsibilities of the of flee. Of course, it will yet require much good work to complete the task of rebuilding the states anticipated revenue system. Put I have not only laid the foundation for new, equit able and complete system of taxation but also have the superstructure well
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