Smyrna times., 1866-02-07
An Important Bill.

The following act is now before the legisla-
ture, to provide means for paying Delaware
quota of the direct tax due the General Gov
,6S3.3 33. 1t authorizes the State
Treasurer to sell the certificates of stock of the
Philadelphia, Wilmington & Baltimore r. r.
Co. for this purpose. The interest on these
bonds is now put into the School Fund To
make up the amount thus lost to said Fund in |
the event of the passage ofthis act, each School
District is authorized to make it up by taxation.
The amount lost to the districts by this plan
would be, it is estimated, amount to about
$40 per annum. There is much objection to
any law that might abridge the privileges of
our Public Schools Many Of them are barely
! kept in operation even under present circum-
stances; and, if additional taxation had to be
restored to, We fear many schools may 6 go by
the board and in localities, too, where they
are most needed--where ignorance hides the
advantages of education. 1t would certainly
be injurious to lessen these privileges, too lin
tied at best. Though there is objection to tax
ing real estate, it is certainly not as bad as rob-
bing our School Fund. AS taxation seems ne.
cessary in any event, we think the former the
lesser evil. The advantages claimed for this
bill is that by converting the bonds named
amounting to $S5, ,OOO) into stock, the State
would gain about $4,000. Whether that
would compensate for the ignorance that might
be brought upon the rising generation is a
question. Here is the BILL
AN ACT to assume and pay to the General Govern.
ment the quota of direct tax apTortiOned to this
State. and for other purposes.
SECTION l, Be st enacted BY the Senate and House
of Representatives Of the State Of DeGDGre in Cen
er0l assembly met That this State does hereby as
sume and take upon itself the paymeHt to the Gene
raj Government Of the quota of direct apporoned
by the Act Of Congress OF Aug. |, 1861, being the
sum of seventy -four thousand six hundred and
Y eighty -threea and -a-thrd dollars.
SECTION 2. In order TO provide the means for pay
ment of said quota, BE IL further enacted, That the
State Treasurer be and he is hereby ordered and di
rected, without further delay, to perform the duty
enoined upon him by the first sentence Of the first
section of the act passed on the 18th day Of March
last entitled IAN act TO authorize the State Treas
urer convert the bonds Of the Philadelphia. Viii
mington and Baltimore Railroad Company into thC
stock Of said Company.
SECTION 3. And be II further enacted, That wheT
the certificates of stock referred to in the sentenc
aforesaid have been received BY the State Treasurer
he shall sell the same in the market therefor at tn
best prics he obtain for them, and transfer thea
TO the purchaser or purchasers thereon. And ne J.
hereby authorized in the event of his having an
difficulty in disposing of said stock satisfactory
terms to procure such aid in the premises as ht
. shall deem for the best interest Of the State.
d SECTION 4. And be it further enacted, That th
State Treasurer shall dispose Of the money arising
from said sale, after deducting all reasonable sxpen
ses attending the execution of the duties of this Ac
/ (Which expenses shall be audited and allowed by tn
= AUDITOR follows, viz: by applying such par
thereof may be necessary TO the payment to tn
General Government of this States quota Of direc
tax under the Act OF Congress aforesaid; and th
residue to the purchase, at sum not beyond the pa
value thereof Of any Gf the bonds of this State,
cept those issued aid the Delaware Railroad Con
II pany and those authorized to aid in the competiO
Of the Junction and Breukwater Railroad; whie
10 bonds when so purchased shall be held by him a
D. Trustee Of the School Fund fCS tho benefit of tn
T. Free Schools part Of their property.
- SECTION 5. And be IL further enacted That III
several School Districts of this State shall have III
d power. If the does not already exist, TO raise
T. taxation each year, such sum of money us shall
necessary to compensate them for the loss Of iHcom
~ that year consequent upon the operation Of this sta
III ue and It shall be the duty of the State Treasure
TO give them due notice Of the deficiency as soon
ter he has discharged his duties under this Act,
* convenient.
20 SECTION And be 81 further enacted, That all
= the Act Of Assembly mentioned in the second Sc
tion hereof except the first sentence aforesaid of d
10 aforesaid first Section thereof be and the
hereby repealed.
nm SEcTIoN 7. And be IL further enacted. That du
certified copy OF this Act be forwarded by the Sta
hg Treasurer TO the Secretary Of the Treasury Of
his United States, without delay.