The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1921-02-05
'PALPABLY MISLEADING STATEMENTS
APPEAR IN ATTACK ON CLEMENT


able ability, could have so utterly mis-
understood it.
1T will be at once found upon refer
ence to the message, page 10, that 1T
is now the plan of financing, previously
followed by the state which is primarily
discussed That is, the policy of provid
ing revenue in advance for the expendi-
ture of money which experience has
taught is never expended within the pc
riOd. thus requiring the people to turn
over to the state money, TOR which the
state has no present need 1t results in
the taxpayer becoming deprived of the
use of his money while the state car
ries an ahnOrmally large cash balance.
drawing a very small rate OF interest.
Cash Balance Exists.
The suggestion is that the treasurer
be given authority to borrow, If neceS-
sary, in the same manner as any other
business corporation. If Mt any time It
is found that the revenues coming i'll arc
insufficient to pay the current eXpendi-
lures and retire these temporary loans,
it is time enough to go to the people
with tax. and ask them to pay the de-
felt. In the meantime, they will enjoy
the use of their money.
1T will also be found on the same
| page of the message from figures pre-
pared by the auditor. whom we must as
sumo knows the facts. that from July
| l. 1920 to Dec. /. 1920, the state took in
1853. 600 more than it spent, which with
the cash balance presumably by reason
| of uneXpended appropriation balances
| from the preceding year, resulted in the
| state having cash i'm its treasury of over
| s., 100000 on Dec. /, 1920.
The auditor further estimated land
it must be conceded that there could be
no one better fitted by experience to
make such estimate) that between Dee
1, 1920. and July 1. 1921, the state
would receive $266000 more than what
would be necessary to meet expenses,
| thus increasing the cash balance to over
| S2.500000.
Never Called Surplus.
| 1t was plainly stated by Governor
/ Clement in his message that this was
! balance of cash on hand. and that the
reason why such a balance existed was
| because the appropriations were not
| wholly expended. Mr.. Merrill would
| have your readers believe that Governor
Clement treated this item of cash balance
as a surplus, all of which Governor
! Clement recommended should be present
| ly expended.
The fact disclosed by the record.
however, shows that there never was
| the remOteSt suggestion by Governor
! Clement that this entire balance was Il
surplus. and his suggestions regarding
! expenditures are limited to the sum of
S1.2JO.O0G which everyone. including
| Mr.. Merrill. comedies Is approximately
what the actual surplus amounts to. and
which should be invested in permanent
/ and necessary construction. and the ere
alton of an insurance sinking fund.
1t must be self-evident if the cash
balance increased so remarkably during
the biennial period, with uneXpended ap-
the preceding biCnnium, that the state
need not worry over the unexpcnded ap-
preparations referred to by Mr.. Merrill
and that investment of the present sur
plus of cash in permanent and necessary
construction where the state will have
something to show for its money IS not
! altogether unwiSe.
Merrill Not Familiar.
! Il am constrained to believe that Mr.
| Merrill is not familiar with the manner
in which the budget is prepared. other
| wise he would not have spent so much
space and effort in endeavOring to show
| why the incoming governor should be
! chairman of the budget committee which
| prepares the budget to submit to the
! legislature Reference to chapter "a of
| the general laws will inform Mr.. Merrill
that the retiring budget committee. after
! receiving the applications from all the
! departments, and ascertaining the esti-
mated revenues and expenditures for the
next biennial period. makes up a state
ment showing same in detail. and that
upon the converting of the general as
| sembly. the new budget committee. of
! which the incoming governor is cairman
! takes up the state ment. and with full
authority to make any revision therein
which they deem advisable, prepares a
| consolidated statement for submission to
the legislature. In fact the main argu-
ment advanced by Mr.. Merrill in sup
! port of the first proposition in his arti-
! Gle is based on the contention that Gov
! crnOr Clement was personally response
( BILE for the budget submitted to the leg
| islature of 1919. This would seem to
clear up any misunderstanding about the
| composition of the budget committee
| AS for the remainder of Mr. AIer-
| rilrs article. it is mostly a statement of
| his personal opinion of Governor Glenn
| ent, regarding which neither the people
| of Vermont. nor Governor Clement in
| all probability. are in any way interested
"WALTER s. FENTON.
Rutland. Vt, Jan. IS. 1921"