Wilmington daily commercial., 1875-03-26

| cludes parts of salaries due in 1873, but
| For SOME REASON NOT THEN PAID.
In estimating the State expenses for 1875 we al Q
safe in deducting. this S2025 from the expenses
| of 1874, which will leave, say, $19 400. To ar
| rive at the probable expenditures for the legis-
latve department it will be certainly safe to es-
| innate thom at S2500 less than for 1873, when
| tile last Legislature was IN sesson-as that cost
| 1926, 500, We will allow $4,000 for the present
session. The extraordinary appropriations
made by this Legislature are as follows
Centenn NAL. $40 600
Counsel in railroad cases. s................ 1000
Fishery Commission. Observation-Disclosures. 1900
Binding Code ........................ 1,800
Amounting to..... ...... SIT 300
The interest on the total outstanding liability
Of the State of Sl,224,0 is 3,440. Besides
these items are
TO BE PAID TWO NOTES
given by the late State Treasurer, amounting to
$40, 900. The above items OF probable demands
upon the State Treasury, for 1876 collected, will
appear as follows
In executive and judicial dept's.. .....S19, 400
In Legislative session 1675.............. $4,000
In extraordinary appropriations. ........ 1890
Interest on State and bonded debit. 73,44O
Bonds due and TO be paid .......... 10000
Total sum of...................... of. $183, 140
Besides the above $40, 900 there are s14, 900 in
State Bonds due belonging to Delaware College
fund These will not be paid but replaced with
other bonds
And now as to the amo unit that is likely to be
derived from the present sources of revenue.
The assessable property liable to the tax known
as
THB TEN CENT TAX
will probably be reduced $4,000, owing to
tho repeal of the tax on bonds and mortgages
other than corporation bonds and mortgages, a
measure eminently wise and just. Owing to the
manner in which the county assessments are
made find it impossible to arrive exactly at
what this sum will be, but those in whose judg-
ment have great confidence estimate the sum at
the amount stated as above-S12, ,000-cer-
tany not more. Deducting therefore the ten
cent tax on this sur, amounting to Sl2O00,
from the State tax on county assessment OF 1874,
which was 56l, l73.ll we will have in round num-
bers $50 900 for revenue from the source in 1875.
The process tax will probably be about $4,000
less than it was for 1874, as $6,400 was derived
from the
RECORDING OF ONE INSTRUMENT
by the Bombay Hook Railroad Company, and
this is not likely to occur again this year. De-
Quoting those 200 from the amount derived
from the process tax in 1874, leaves $4,000
probable revenue from this source for 1875.
The taxes upon Railroads will contribute to
the Treasury quite $4,000, more than in 1874, as
| understand 1t il the intention of the State
Treasurer to collect from certain Railroad Com
panies the amounts which they are in arrears to
roads will not be less than S24, 600. We have
every reason to believe the junction and Break
water Railroad Company.
WILL MEET THE INTEREST DUE
on their mortgage which will amount to S14, 900.
The interest on the Breakwater and Frankford
Railroad is secured by reserve of bonds it is
therefore safe to depend upon that amounting
to $4,000.
The license fees will probably not vary much
from those of 1874 when the aggregate was
lal.
to the general fund, consisting of $G3.750 in
stock of Farmers Bank and S9,301 in Bank of
Delaware stock will be $4,5i5. There are
other items of revenue which will probably for
1875 vary but little from last year. The ncrease
therefore, to the State Treasury, together with
the cash on hand at last settlement with the
Treasurer will be as follows for 1875:
State Tax on County Assessments. $50, 600
Tax on Railroads ''...,.........,. $4,000
Interest from j. & D. r. R........,. 1000
Interest from b. & Frankford Il. Il. 1000
License fees Observation-Disclosures. 4S,790
Interest on bank stock. k.............,. 4,545
Tax on Banks and Insurance Cos.... 7,267.32
From Secretary of State. e.............. 7l2
Fines and m scellaneous ....,....... 1,164 16
Cash on hand Jan. 28, 1675.......... 10,l3l.Oi
Total. tal....................$2 1920, ,6O9. 50
DEDUCT FROM THIS Sum
the expenditures for 1875 reckoned above at
gloo, anu We uhNe VI ihin
sum in all probability will be increased by at
least $40, 900 as the counties are in arrears to
the State to the amount OF S26,0O0 or S27 OO0
about follows New Castle, $4,000 Sussex
a. 500 Kent, SIG, 900. The sum due from the
last mentioned county is for all the taxes of
1875, and part of those of 1873 subject to allow
auce for errors, etc. The same amount of ar
rears not likely to be carried over to next year
as the large amount due from Kent county is
owing to the extraordinary demands upon the
Treasury during the past year for the New Court
House, ETC., rendering it impossible to meet her
liabilities to the State, which it is said will not
be the case this year.
THERE WILL BE NO SESSION
OF the Legislature in 1876 and the ex penses OF
that year will be reduced from those OF 1875 about
| az follows.
Legislative expenses. $50, ,0OO
Centennial appropriation. ............... 1O,UOO
| Fees to counsel and fishery commissions. 5,5OO
Total. .............. 1888 .Soo, ouo
| SO that the probable surplus for 1876 will be
quite $4,000
This statement, which am quite sure is cor
| State financial condition ID healthy and highly
| satisfactory Whether these facts will Justify
| further reduction in taxation, you, in your wis
| DOM must decide. 1t is wise and safe policy
| that will require the revenue to be in ex ess OF
expenditures. Indeed
| LIBERAL MARGIN
should be kept to allow for any extraoi dinary
| expenses that may be called for, or any falling
| off in revenues that cannot be anticipated, am
| inclined to the opinion that il any further mod
| crate reduction of revenues could be made
which would tighten still further the general
tax, it would probably be safe, but am not pre-