The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-05-08
EoR GREATER REVENUE.

I u The increased burden of taxation.
Hand the higher cost OF living have
drought about one valuable improves
taent sint the Old method Of letting the
politicians run things to suit themselves
the injection of the virus OF public
! tisfactipp. is showing itself in the
Einferestn that business men are giving,
Tat. least. to the political ..game, and
/ the fact that men in the employ ofsthe
Estate are at last attempting to work
out. the state problems along business
lines.
one spf the mqst. simportantsan-
ilouncements in many Years is that of
Estate Treasurer j. CT Luning,s in which
he has made public constructive plan
for Increasing the~state's revenue II
Mr.. Innings plan is workable. and
business men declare it tosbe it-would
mean the payment OF fair salaries. to
our public school teachers and meeting
other educational needs of the state,
without raising the tax rate or. placing
any additional burden upon the tax
Payers. =. "a :
The Tampa Times carries a strong
endorsement OF Mr.. Luning's plan.
which we reproduce+in part: s -. ),
8 1T is the proud bpast of FLORIDA. that
IT'S oniysbonded debt consists of .$601.-
s56V OF 8 per cent. bonds, owned by the
educational funds of the state, and the
interest," of which, amounting+to SIS, 047,
rs paid to those funds by the state out
of its general revenue. It need hardly
be said that. this. revenue coming TO
the educational funds is mere drop
in the bucket compared to the cost of
keeping up and extending our educa-
tionaslss$9tsGnsto~asee pace with J. the
growiAEnadS.6 of the state, sIt;sis ayhelp
SO far as 1t, goes, but the plan Of the.
state treasurer would make it go twice
las far, without placing any. extra burr
den on the taxpayer. :. 81
Tflsespsan, is Briefly s4RYs. The. moneys
of the state are deposited il the. va va :,
draw interest, which interest goes into
the general revenue of the state. For
the.Eear 1919 this interest amour ted 80;
ss32,6S9 81. an increase over the previous
year of 81, 1866. 94.ss.A sinriaar. increase iii
1920 would make. the sum oyer. $40 900
and that may be taken as a. fair mini
mum for many years to come. 1t is
more than likely to increase than de-
crease .aSsthe State develops For the,
eight years the present treasurer has
held office. the payments from this
source have aggregated the handsome
sum of s1s1.217.e1, an ayerags of $780,.
902.0S annually.
>, There is no provision made for the
retirement of the 100000 and more of
atesbondss ownednby the educational.
funds. The first payment of $267,700
does not become due until 1851, and the
pa two years ,latens so thaS no i'm,
mediate concern has L. been fe1t Sdver
thems@Treasurer;E uning oNad = have
this interest money coming from the
deposits of the general revenue, turned
into sinkingSfund for the retirement
Of the 8 per. cent bonds, and their re-
by Florida municipal. county
and hoofsd&strict bondssz yielding "a
revenue of 5 or 6 per cent. He esti--
mates, figuring the interest income at
iHe o9a hsaallg. eeRpggnaea every sig
of 100000 could be paid off in II years
time. OF this amount about s450,00O
would represent the principal invested
Yfds 81 5a'oeats fhe "a Geain1n latiors pf;zsirik
tsresls We SPEAK. ia round numbers
ohiy.t Ins other worlds the BOMBED fifss
debtedness could be paid off in II years
by the judicious investment of less than
90 per cent Oh the principal OIL Inc
bynds, not onA dollar OH which swotild
eSnE ,frsm direct taxation, but all ac-
cruing from the interests on deposits
of moneys already COLLECTED. i i, z...-..:.
The plan looks good to US. It'would
relieve the general revenue fundsof the
payment of s1S.o per, an NUN. ands at
the same time increase the educational
fund by or per cent a year, WHICH
it, aprRIys needs, .and ALI without. III
cfeasing tAxdtion a single dollar. HA
estimates that after the refunding\
bonds are redeemed in II years thei
annual saving ITO .tl1s Gie. will bessat
least 100000. 1t will provide a home
market, for many Sof s.our.: municipal
bonds, and relieve the bonding districts.
of the, necessity ofshawkInath eirlaares;
over. the country. rs A
~. Certainly thfsesplanaw oula. Seem td
recommend itself to any business man
or woman, and The Journal recon-
menas it, investigation by the organ
izstion recently effected here for tae
purpose of reducing taxation - .A.'
Z