Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-07-06
State Treasury rs Faced
MIN Problem OF Raising
M0neyt0 Meet Expenses

Illulninative facts concerning the
condition of the state treasury were
made public Saturday, when, from
figures obtained at the office of the
eral and the governor, it appeared
that on July 1 the available balance
in the treasury was $19,767.63, with
several state departments and insti-
tutions unprovided for during the
month of July.
The balance in the treasury at the
close of business on June 80 was
$1,585,95727, which included $1,100,-
1888 of the motor vehicle license
tax fund, along with $221,125 for
the sinking fund, interest due July
l on the public debt and outstanding
coupons on bonds. This, with other
items of reserve and advances made
for various purposes, cut down the
available balance to $40, 549.8O, 49,.
But over, in the governors office
are unpaid warrants amounting to
$120,782.17, covering items that
should have been paid in April, May
and June, with few falling due
July and still unpaid. This leaves
balance in the treasury. of $19,-
1878 that may be considered as
available at the present time in eX-
cess of obligations. Exclusive OF
the total of $120,782.17 there are
many other warrants to be drawn
for the maintenance of the state de-
partments and institutions for July.
These are now due.
Augmented Tax Expected
It was stated at the office of the
comptroller general that about $780,
600 more is expected to be paid in in
surance taxes, which this year should
run something over 100000, or $500
900 in excess of last year. Although
$302,619.49 in general taxes for 1919
;,o DIV tho T01nnthS nf
April, May and June, it is expected
that a considerable amount will yet
be forthcoming from this source. Poll
taxes, which amounted to $48,14O. 81
during the quarter, are also expected
to be somewhat augmented.
The automobile fund cannot be
used for any other purpose but the
construction of highways. This IS
provided in the highway act OF 1919,
but resolution now before the house
of representatives would allow the
temporary diversion of this fund to
pay the general expenses of the state
until December 90, 1920, when 1t
would be replaced intact.
The total amount of motor vehicle
license taxes thus far paid into the
state treasury is Sl,799,16I.fl. VI
this sum $199.242.89 has been eX-
pended by the state highway commits
sion and 100000 has been borrowed
by the governor to meet pension pay
ments. There is now in various state
repositories .$45O,519.58 of the auto
mobile fund and State Treasurer
Speer has placed $4,000 of it in
banks paying per cent interest for
the use of the money, placing gilt
edge securities in the hands of the
state treasurer as collateral.
The problem that is worrying the
state house officers is how to gather
up enough money during the next
three months to meet the ordinary
expenses of the state, including the
various maintenance appropriations
for departments and institutions
The condition of the treasury as
shown on July l is pointed to by
advocates of tax revision as evidence
of the need of immediate action on
the part of the general assembly to
provide funds for the proper financ-
ing of the commonwealth.