The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1915-04-13

G&HGA1Egn AAt%ARE M
fact de1cit i the state trsasury Of
f1,o55s925.0s
It is r that the blank funds At
this time were not entirely exhausted,
but the state has no right to use them
for any purpose except for the pur-
poses for which they were specifically
provided, and the constitution SO pro-
vides In the most undeniable terms.
A draft on these funds had been
made to the extent OF SOS ,925.0 and
there were at that time treasury liabi-
litfes in the form OF unpaid appropri-
atoms of $3.50, 100000. There was left
as an available checking account in
the treasury at that time O balance of
only SIG, 900, all OF which and more
than $500, 100000 more would have
been necessary to meet the blank ap-
preparations. Had the pay roll expense
for March been paid there would not
have been left a single dollar in the
treasury to e the blank appropri-
atoms.
The following tabular statement,
taken from the figures recently sub
mitted to the attorney general by the
auditor and treasurer, shows the con-
dit1on OF the state fund proper and
the moun OF its successive borrow
ingS from the blank funds at the end
of each fiscal ear from 1910 to the
present time. The state fund proper
has been bankrupt since some time,
between September 80. 1912, and June
30 OF the following year. Its borrow
ings have now reached the point
| where payment OF current obligations
OF the state fund would bankrupt the
blank fund also, as shown by the fol-
lowing statement of it's condition:
Condition September 80, 1910.
Cash balance ..........$ 8~87,433.90
Liabilities
(appropriations) 80. 6oO.7Os.so
Net balance .........$ 256, 724.60
Condition September 80, 1911.
Cash Lar 1,O43, 627.5O
Liabilities
(appropriations) ..... 751,704.60
Net balance .........S 291,923.20
Condition September 80, 1912.
Cash balance .........$ 944, 363.9o
Liabilities
Cappropriations) 49,. 531.52s.6o
Net balance .........$ 412,S35.3O
Condition June 80, 1918.
Cash balance ..........$ 600 100000
Liabilities
tdue blank funds) =. 5 1,232.15
Liabilities
(appropriations) ..... S16,966.12
Total deficit .........$ 96S, 198.27
Condition June 80, 1914.
Liabilities
due blank fund.- ....$ 67,66S.74
Liabilities
Cappropriations) ..... s2s, s34.ss
Total deficit .........$ S96,603.63
NandI%ion March ~ 1Q15.
Cash balance ......... $4,000, 100000
Liabilities
(due blank funds)...$ 2o5,s26.OS
Liabilities
(appropriations) $3.50. $50, 100000
Total deficit .........$1,0 55 ,925.0S
The amount of the deficit will
iuctuate, of course, from month to
month, as money from various
sources of comes into the
treasury, but as the appropriations
for the next biennium, even after the
vigorous pruning given them by the
governors veto exceed the estimated
revenues, there IS no other way to
replenish the state fund except that
of refusing to pay h amounts ap'
propriated until the money into
the treasury. The amount OF these dis
honored appropriations, constituting
liabilities against the state fund, Will
be in the neighborhood of 600
by the end of the next biennium, and
no amount of juggling other funds
will arrest the steady growth of the
deficit.
In the light of these figures it is
not surprising that Governor Hatfield
states credit, If indeed, the state has
any credit.
The whole miserable effort to so
juggie the figures as to show that
there is no deficit has been made to
bamboozle and foo the people into
believing that there is no necessity
for raising more revenue. The people
may be fooled a part of the time, but
it would be well enough for those who
are trying to hide their ostrich heads
in the sand to remember what Abra-
ham Lincoln once said about fool1ng
"all the people all the time" 1t an
not be done. The Coal. Oil and Gas
Triumvirate are financing this n
spiracy of deception. They have their
paid press agents circulating column
after column OF juggled figures. They
keep their paid lobbyists and attor-
neys at Charleston all the time to
pull the wool owe b eyes of the
legislators, and perhaps If the truth
Is known, they sometimes even go
further than that to influence some
of them.
1t is a dead sure fact that as soon
as the people realize there Is more
revenue needed, they will demand Of
their representatives that they pro-
vide it. There are only two to
do this. One is by direct taxation
and the other is by a special privilege
tax, either upon the production of coal.
oil and gas, an excise tax on excessive
land holdings, or some other form OIL
special license tax upon the larger
interests. The Coal, Oil and Gas Com