The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1916-11-10

james G. Rice, of Chattanooga after
a visit end personal Investigation or
five Southern States, declares in the
Memphis Herald that prohibition mas
nearly bankrupted them. In a letter
to A. l.. Rowe. editor Of the Herald.
Rice says he has the official records
to back him UP. The article says:
The policy prevailing in a number
of southern States OF enactil5 laws
that destroy revenue-bearing property
and failure or refusal on the part OF
the legislatures to provide ways and
mean for covering the less back into
the public treasures, through other
forms OF taxation. is causing public
concern and a Sreat deal Of worry on
the part OF public officials.
Resort to bond issues and other
forms Of borrowing has become more
frequent of recent years to pay deficits
in public revenues, ana many counties
IN some of the states have suffered
their warrants TO depreciate in value
until the discount ON them IS as high
as 20 per cent. This depreciation
causes much loss TO the taxpayers, for
the reason that when contractors make
bids or public work they include the
discount on the warrants in their bids.
Conducting Business On Credit.
Three Southern States are now con
duc.ing their business IN a credit basis
in the absence Of sufficient revenue in
their treasures 20 meet the current ex-
penses CT government. Ill five are un-
der prohibition laws that deprived the
pubic treasJrles 81 revenues approx
mating SOC, 100. = year each, without
making any ,morc smeat, so far as
records show, ii rcaiic morals.
For example Aisb3ma has had
trouble with It's Gn..1ees ever since the
state began experimenting with pro
hibition. The aehS.t N the revenues
OF the state AT present. is about $4,000.
O00, and it is beiaS increased. The
state has a bonded debt already ap
proximating 10000 600, and If thf
floating deficit is added, the total deb
of the state is about 100000
Early in the present Year, Governol
Z kltltuCl sui MCAAL ~ -NCN AO-H o
made arrangements with a large 6nan
cial institution to pay the current war
rants of the state that could not D.
paid out of the treasury. Interest /
paid on these warrants from the dat
of issue until they are taken up by tn
state from proceeds of futur
bond issues. The next legisla
turo of Alabama will be ASK
ed to authorize d bond Issue i
sufficient amount to cover the defici
in state revenues, and the amount Wi
be about So, 900, 900. Really. GovernO
Henderson recommended a bond issu
in that amount TO the last Legislature
but $3.50, 600 was as far as tire legi'
hture would 60 in that direction.
provision was incorporated in In
I enabling act, submitting the bend j
sue TO a vote OF the people. In tn
{ referendum the issue was defeated
!. and the administration was left vi;
{ a big debt on its hands with nothin
to meet 1t.
d. Arkansas in Chaotic Condition.
T The fiscal affairs of the state
Arkansas are in such chaotic conditio
/, that it is difficult TO say with c~ertaint
j how much that state owes. 1t IS d
q ficult to determine how much Of the /
+ %debtedness is due to prohibition law
j; However, it is a recorded fact tn.
II when the prohibition law of that sta
deprived the treasury of near a ia
= million dollars a year hat a collapi
s. of public credit resulted. Govern
d Hayes was forced TO veto many need'