The log cabin Democrat., 1914-07-09
S1AIE'S WARRANTS WILL BE REDEEMED REVENUE IS SUFFICIENT TO RETIRE OUTSTANDING IN
 DEBTEDNESS, DECLARES
 AUDITOR COFFMAN.

That the money to be paid in the general revenue fund of Arkansas within the next two months will be sufficient to take up all outstanding warrants on this fund, care for the expenses for that period and leave a balance of about $75,000 or $80,000 in the treasury is the statement of Auditor L. l.. Coffman given yester- day to the Little Rock correspondent of the Memphis Commercial Appeal This will be welcome information to quite a number of Conway people and especially the faculty and employees of the Arkansas State Normal School in this city, who have been cashing rying them until money would be available. Until Auditor Coffman gave out this statement it was some what uncertain whether all of the outstanding general revenue warrants could be cashed at all this year.
 The state, however, is still one year behind in it's revenue and unless steps are taken by the next legisla- ture, either by an increase in the gen 'eral revenue or reduction in ap- state warrants are likely to be at a big discount next year. A bond is- sue has also been suggested as means to pay off the present debt. but this proposition, which was urged by Gov. Joe T. Robinson at the leg islature of 1913, was defeated and it would probably be difficult for it to pass the next general assembly.
 At the opening of business July 1 the state owed $407,936,17 from the general revenue fund, according to the books in the state auditors office. There was nothing in the general fund with which to redeem these war rants, had they been presented for collection on that date.
 During the present month, however, the collectors from the various coun- ties will make their final settlements with the state treasurer. About 75 per cent of the general fund has already been turned in, under emer- gency calls issued by State Auditor Coffman last spring. However, it is estimated that there is still about $400 900 to be paid into this fund by the collectors, according to Mr Golf mans estimate To this may be ad- ded $180,000, the amount estimated by the state tax commissioner to be derived from the annual franchise taxes and payable by September 1, This makes total of about $58O, 900.
 With the heaviest requirements al ready made on the general fund for this year, the state auditor estimates that only about $90,O00 will be re- quired for the general expenses of the state during the months of July and August This means that by Sep tember the total indebtedness of the state will amount to about ,00O, counting the warrants now outstand ing.
 The state general fund will be able to pay off Ire bills and have a balance of about S75,000 or $80,000 to it's credit September, based on the above figures.
 But as all the revenue for the year will be in, except such as drafts in through the departments of the audi tor, secretary of state and attorney general, it is estimated that by the first of the year the indebtedness will be about $200,000, with the legisla- ture ready to convene and virtually no revenues of importance in sight before the following July.
 Our indebtedness by the time the next general taxes come in," said Auditor Coffman, twill probably amount to S1,0OO000. This will de- pend to some extent upon the appro- priations made by the next Legisla- ture and the manner in which the warrants on such appropriations are issued during the first part of the year.
 Auditor Coffman believes the deficit can ultimately be met without any further increase of the general tax levy, which is now IA mills, but that it will be necessary to reduce apprOnria tiOnS