The fiscal problem in Missouri

Bibliographic data

Monograph

Identifikator:: 1833271335

URN:: urn:nbn:de:zbw-retromon-230042

Document type:: Monograph

Title:: The fiscal problem in Missouri

Place of publication:: New York

Publisher:: National Industrial Conference Board, Inc.

Year of publication:: 1930

Scope:: xvi, 359 S.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IX. Financing the capital requirements of the State

Collection:: Economics Books

FINANCING THE CAPITAL REQUIREMENTS 269 deficiency in capital requirements would arise while the existing one was being eliminated. In order that the financ- ing of the present accumulated deficiency might not interfere with the financing of the future needs, it is believed that a bond issue should receive serious consideration as a means of financing this deficiency. Of the expenditures recommended by the State Survey Commission for capital outlays and extraordinary repairs $16,178,000 are for educational institutions. Of this amount at least a considerable portion would seem to represent an accumulated deficiency. There can be little doubt that the educational needs of the state are less imperative than those for penal and eleemosynary institutions. The lack of edu- cational buildings cannot cause the physical hardships that may ensue from crowded and unsanitary conditions in a state prison. In view of this difference much might be said in favor of spreading the financing of the buildings for educa- tional institutions over a period of years and confining the bond financing to the amount necessary for penal and eleemosynary institutions. Such a plan would be practicable if there were reason to believe that it would be put into effect and carried through without excessive delays. Past experience has indicated, however, that such a result would not be achieved. To avoid such delays the state, of course, might resort to borrowing in order to meet the needs of institutions. That, however, would involve a departure from the non-borrowing policy upon which a plan such as that recommended by the State Survey Commission is based. Moreover, if the state should endeavor to finance the deficiency in ‘educational buildings over a period of years, it is very likely that it again might fail to meet the building needs that at present cannot be foreseen. When these factors are considered, a bond issue as a means of eliminating the accumulated deficiency in educational buildings seems worthy of serious consid- eration. In addition to the capital expenditures for penal, eleemosy- nary, and educational institutions, the State Survey Com- mission, as has been seen, recommended a total of $2,750,- 000 for a state office building, a new governor’s mansion,

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