Rensselaer Semi-Weekly Republican, Volume 35, Number 16, Rensselaer, Jasper County, 24 October 1902 — DEBT DESTRUCTION [ARTICLE]

DEBT DESTRUCTION

How It Hu Been Accomplished In Past Seven Years. HONEST EFFICIENCY AND ECONOMY Have Been Watchwords of Republican Administration The Princely Perquisites of State Officials Abolished A Remarkable Showing, Worthy the Attention of Every Taxpayer. (By Gov. Winfield T. Durbin.) Every citizen of Indiana, irrespective of party, ought to be thankful for the benefit derived from the sound financial policy which haa been strictly adhered to since the Republican party came into power. And, while the record Is one of which we are naturally proud, the results achieved have been brough about simply by the exercise of sound business judgment and the application of economic measures designed to curtail expenses without lessening the efficiency of the service rendered. There has been no disposition on the part of the administration to be stingy or niggardly, but. those in authority, and therefore primarily responsible for what is done or left undone, have insisted that value be received for every dollar expended and that every dollar be strictly accounted for. There is no exception to the rule? Under the Mull law, created by a Republican legislature, the old custom of drawing special appropriations from the treasury without vouch, ers has been superseded by a system which effectually stops many leaks that had been running for years without hindrance. Under the present method no one, from a governor to Janitor, can secure a warrant on the treasury unless he first presents the auditor a voucher so thoroughly authenticated that its genuineness Is self-evident. This has been the means of saving many thousands of dollars to the state annually and is a safeguard against peculation of obviously great value. Another notable reform for which the Republican party is entitled to credit is due to the act of the legislature of 1895 in dispensing with the fee system and putting all state officials on a fixed salary, thus making a saving of about $175,000 annually. Princely Perquisites Abolished. Previously to that enactment,the perquisites of some of the officers were princely, enabling the incumbent to retire, after a four years’ term, with a fortune. Under the law now tn force each official receives a stated anfount, as provided by statute, and no more, fees of whatever character going directly into the treasury. In other ways also the Republican administration has demonstrated its disposition and ability to deal successfully with fiscal affairs, most notably with reference to the reduction of the state debt" The present era of Republican control began in 1895, with a Republican majority tn both branches of the legislature, and a Republican majority on the state finance board. But. to be generous, I give the Democratic party credit for debt payments made during the remaining portion of Gov. Matthews' administration. In 1898, the last year of the administration of the late Gov. Matthews, a most excellent And honorable gentleman, whose untimely death our citizens all lamented <nest sincerely, the to'tal state debt amounted to sß.92tf.6fs:fJ? now It" is $2,887,615.12, a reduction during the past six years (less three months), dating from the beginning of thq term of my distinguished and much-beloved predecessor, Gov. Mount, aggregating $4,033,000. tn order that you may be more fully Informed of the regularity and consistency characterizing the progress of our debt-paying policy, I submit the following comprehensive details; Total debt 1896. $6,920,615.12. Total debt 1897, $6,200,615.12: reduction for year. $720,000. Total debt 1898, $5,800,615.12; reduction for year. $400,000. Total debt 1899, $5,187,615.12; reduction for year. $613,000. Total debt 1900. $4,704,615.12 rwduction for year, $483,000. Total debt 1901, $4,204,615.12; reduction for year. $500,000. Total debt 1902. $2387,615.12; reduction for year, $1317,000 Remarkable Debt Reduction. That you may more readily appreciate this reduction. 1 call your attention to the fact tbaj it has been at the rate of $1,813 30 per day every day durtig the above mentioned period. The cancellation of this indebtedness to the amount of more than $4,000,000 Is of Itself Very gratifying, and- it Is all the more pleasing when it is taken Into account that the annual int«re«t charges now are $141,160 lews than they were when the Republican party assumed control of the state govern ment. as shown by the following statement In detail: Annual Interest 1896. $243,725. Annual Interest 1897. $200,925; reduction for year, $42,800, annual Interest 1898. $185,925; reduction for uenr. sl*3oo. Annual Interest 1899. $170,563; reduction for year. $15380. AnAuel interest 1900. $158,078; reduction for year, $14,490. Annual interest 1901, $1414175; re. duction for year. $15,000. Annual Interest I*o2. $101,565; resuction for year, $39,510, t Inasmuch as tbeoe canceled bonds •sre drawing tfc per cent one may

gain a clearer realization of what hag been accomplished by a calculation which shows that the saving in Interest alone amounts to $142,160 per year; $1,974.50 per month; >65.80 a day; $2.74 an hour. As to the Tax Rate. In addition to this debt-paying, the administration has also provided for the payment of specific appropriations aggregating $1,300,000, SIOO,OOO for the completion of the soldiers’ and sailors’ monument and $140,000 for the establishment of a home for disabled veterans and their wives, in addition to the cost of Institutional maintenance amounting to $1,145,000 annually. The revenues for meeting these obligations are raised from a comparatively small tax. The average assessment per county throughout Indiana is about $1.49; the state shares in this only to the extent of 14 cents, with which to meet all the expenses of government, including the Judiciary—supreme, appellate and circuit judges, prosecuting attorneys, sheriffs' mileage, etc. The assessment of 11 cents for common school purposes is paid into the state treasury, but that is simply tor the purpose of securing an equitable ap- ' portionment, all such collections be--1 -ng returned to the counties in due process. I have presented these facts and figures with reference to fiscal affairs at length because I believe It is not only the privilege but the duty of every citizen and taxpayer to be given every possible opportunity for informing himself of what is being done by those to whom has been intrusted the responsibility of management of public affairs. The records of the state since the Republicans assumed control are open to inspection. The present 1 administration Is perfectly willing to 1 take the people into its confidence, it ' Is proud of its achievements and has , nothing to conceal; nbthing for which 1 to apologize; nothing that calls for an explanation that cannot be readily, candidly and honestly complied with.