Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1868-01-11

to nearly two millions of dollars, has been
settled in full by the allowance of claims for
extraordinary expenses incurred by the state
during the war.
In Consequence of the lapse of time since
the remaining claims were contracted, tno
want of sufficient vouchers and explanations
and the difficulty Of finding the parties,
some of them being dead by whom they
should be made, render their settiemen'
difficult, and in many instances, douotiui'
the accomplishment of which will, however,
be vigorously pursued and the results LAID
before the Legislature.
Passing from this general review of the |
finances of the State, cannot permit some
of the most prominent ideas connected with |
them to pass unnoticed, because they clearly
indicate the path of duty in the discharge of
the Executive trust. 1t is deemed proper to
call your attention to the fact that during
the entire year very large sum Of money is
in the keeping of the State Treasurer This
sum has not at any time for years been less
than a million of dollars, and at present
amounts to considerably over four millions
of dollars. That it is unnecessary that the
greater portion Of this money should be kept
in the Treasury to meet the ordinary de-
mands upon it is obvious and that it should
be withdrawn from circulation is certainly
detriment to the business of the community.
A contraction to the amount of several mil
lions as at present, cannot fail to make its
impression upon those engaged in mercan-
tile, manufacturing, agricultural, mining and
all other kinds of cmployments. This mo-
ney am informed upon good authority,
can be loaned, with ample security for its
repayment when needed, for certain speci-
fed periods, at reasonable rate of interest,
and the proceeds placed in the Treasury for
the benefit of the State, which would not
only be beneficial to the taxpayers, by in
creasing the public revenue, but also enlarge
the accommodations for business purposes.
If this plan were adopted, the Withdrawal
of the circulating medium, by the payment
of taxes, would be so brief that it would not
materially affect the public welfare. The
fund thus acquired could be added to the
sinking fund, and would materially aid in
the reduction of the State debt.
A glance at the condition of the Treasury
will show that at least four millions of dol
lars might now be loaned, and at four per
cent. would realize the handsome sum OF
100000 per annum. Or nearly the whole
amount of the balance now in the Treasury
might be rendered productive by being in
vested in the bonds of the State, bearing six
per cent. interest. even though purchased at
premium Or, it might be invested in
: United States interest bearing bonds which
would be available at any moment q ncces.
sity might arise for the use of the funds. II
that amount were exchanged at par for
United States tenforty bonds, bearing five
per cent. interest in gold, the product would
be at the rate of $500, 900 per annum, in gold
or, at the present value of gold, S266, 900 in
currency Besides, the funds would not
become "depreciatcd and unavailable" by
long continuance in the Treasury. A law
for this purpose could be passed, specifying
the method by which the unnceded money
of the Treasury may be loaned, authorizing
and empowering the State Treasurer, anc
such Others as you may designate, to exc
cute, or carry out, its provisions.
Your attention is also invited to the fac
that the salary of the State Treasurer, now
, only seventeen hundred dollars, is entirel,
disproportoned to the duties and responsi
biiites of that officer, and that the amour
Of the bond, eighty thousand dollars, givel
! by him to the State, is equivalent to no sc
curity at all, under The present system o
placing, Internationally, the entire funds o
the State in his hands The only security i
the incorruptible honesty and integrity o
the Treasurer. Suppose that when there j
in his keeping millions OF dollars the in
cumbent OF that office should be tempted t,
become defaulter How easily could h
secure to his bondsmen the amount fo
which they would legally be liable to tn,
State and appropriate the balance to him
self! For years, it seems to me, the Trea
sury of the State has stood, as it were upoI
a volcano. Examples all around us shov
the fallbility of man. and how frequentl
and easily he is swerved from the path O
rectitude ard honor. Even many of thos
in the most elevated positions and cnjoyiu!
the highest confidence of the public, ar
often found to yield to the temptations tha
surround them. The desire for the rapiC
accumulation of wealth; the thousands o
schemes presented to excite The cupidity o
human nature, and the looseuess of public
morals, engendered by the escape of th
guilty from punishment, have so demoralizet
public sentiment that it may be considered
wonder-almost miracle-that Pennsyl
vania has so long escaped from the calamit
that might at any time have happened, o
that may hereafter happen, by the robber,
, OF her Treasury, and render the suspension
. of the payment of the interest upon tn
State debt, for time, inevitable.
In the performance of my duty, hay
1orewarned the Legislature of danger u
respects her finances, of no common magni
tude. 1t remains for it to determine whetbe
S this danger shall be averted by prompt ant
efficient legislation, and the Treasury guard
ed against the occurrence Of so great
calamity.
EDUCATION
: At the close of the year the number O
; school districts in the State was $50: tn
number of schools, l3,435; graded schools
, 2,l47 school directors, / ,534 county, city
and borough superintendents, So; teac hers
1898 pupils, 7s9, ,SS9; the cost of tuition
S3,O2s,065 go ; building, sl,262, ,79S 6S
contingencies, s79O,675 33 tuition, build
ing and contingencies, S5,0Sl $50 II; anc
the amount expended for all purposes relat
ing to schools, 50, l60,750 II.
Your attention is particularly invited t,
the want of uniformity and constant chang
of books in the public schools These ar,
matters of serious inconvenience and need
less expense to the poor, and might easil,
be remedied by judicious legislation
The graded schools have largely increased
during the past year. The system estab
lished by the State was designed, not onl,
to furnish instruction to our youth in th,
elements of knowledge, but wherever prac
ticable to impaTt TO them an edncat;nn ;r