The Nevada County picayune., 1916-09-07
GOVERNOR HAYS PRINCIPAL
 SPEAKER AT BIG PICNIC
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0OHLlnQtu lfOHl page 1.
 the pruning knife, " vetoing more than $500, 900 and put it back into the pockets of the tax payers of the state and as a re- suit the state is out of debt, on cash basis and will have plenty of revenue to run on un-
 til the first of January 1917. In other words, w hen 1 came in the 1 Governors office 1 found your state three-quarters of million dollars in debt. when 1 go out 1 of the Governors office I will 1 leave your state out of debt and on a"cash basis. In this l feel like 1 have redeemed my promise to the people. We pay too much taxes. Our burdens are too heavy. The only people who complain about Governors vetoing appro
 priations are those who are the beneficiaries of the public rev enue of the state. The taX-pay- CTS, do not complain because their interest is being protected, but only those who try to extort every penny from the pockets of the people. It has been said that by October lst the state would be six hundred thousand dollars in debt. l say to you that the state Is out of debt with a few thousand dollars out standing warrants in the hands of the collectors who have not made their settlements. When all of the collectors have made their settlements in full and the corporation tax IS collected, we will have something like one half million dollars in cash in the state treasury to the credit of the General Revenue fund. With proper economy. this condition can be continued and that. too. without raising the rate of tax tation or without increasing the assessment, because if you raise l the rate or increase the assess ment, you have raised your tax, es regardless of what you call it. The approximate income of the state is a million and a half dol lar annually. or three million dol lars for the bienniel period. This is half a million more than the amount of the appropriations left intact in 1915 and, if the next legislature will go on an economical basis sin making ap- Dropriations, you will have plen- ty of revenue to adequately pro- vide for all of the states institu- tions and the state government. It will not be necessary to issue bonds or interest-bearing eyi- dences of indebtedness or to bor- row money unless you permit your hands to be held up. This l rust the people of this common wealth will never stand for. tThe revenue of the state is not entire
 Y dependent upon the taxes col
 ected. One third of our revenue IS derived from other sources and
 $ paid in all during the year. l D not think it would be good business toi force the people of he state. many of whom have to borrow money to pay their taxes 1t a high rate of interest, to pay an amount in to state treasury Dn the first of July to run on Intil next July and then loan the money back to the banks of the state at three or four perlceEt
 interest, to be loaned to the men Sho have already paid it to the State Treasury at an additional nigh rate of interest, .when the revenue is coming into the state all during.the year, If perchance We shall have a lapse of one or ,wo months for adequate revenue to meet the running expenses of the state. if this be met within