The daily gazette., 1875-01-06

Ameuucu, uuu btTiAiuB out CekIoih W WOheAS
therefrom and inserting other words in
iior thereof, is Objectionable, and, in my
opinion, ought to be avoided. Amend
ments desired should be effected by
repeal of the section intended to be
changed and the substitution OF new
section cmbodying the alteration desired
in tho law. Proper attention by the
Legislature to this subject, which. in
some of the States has been deemed OF
insufficient importance TO be provided
for ty constitutional provision, will rem.
der our statute law less confused ana
more easily understood than it has oeen
heretofore.
STATE DEBT AND FINANCES
The accompanying report OF the State
Treasurer, made to me in compliance
with law, and to which / beg leave to
call attention, contains detailed state
meut of the Indebtedness OF the State
and the purposes for which such indsbt-
edness was created u aud also Q state
ment showing the amount and character
OF the investments belonging to the
State and the purposes TO which sucn
Investments are appropriated. BY ref-
erepce 10 the statements confal9eq IN
debteduess Of the State, crested prior to
the last session Of the Legislature, was
one million four hundred and sixty:two
thousand dollars ~, 300: Of which
amount there was appropriated 70 tine
payment Of volunteers and the rolief OF
uersons drafted into the military service
during the late war. one million one hun.
dred md ten thousand dollars, " ,l1O,-
OOO.) and the residue, or three hundred
and fifty two Thousand dollars (x352 O0O,)
was incurred by q loan to the Junction
and Brsakwater Railroad lCompany 10
aid in the construction OF their road. =,
rha amount Of indebte9ncsa created
for the purposes n namee - ossl,S ne rs.
by the purchase ef honds the &I11pnt
of one hundred and thirty sSyeAs Hou-
The bonds falling due the. frat deg ~
| January, 1875, have been HiQo6 tekes up
and cancelled, or their psyi1@e1 Prov ed
for. which will make the seduction Of
the debt. within the Last four years
amount to thfee hundred and eighty
eight thousand dollars tssSS, ,00O) leay.
ing the amount due on tho original debt.
heretofore referred to. on the hrst day Of
January, 1875, one million and seventy
four thousand dollars 81 ,074,0 ,000) uil- a
At the iast session OF the Legislators
an act was passed loaning the bonds Of
the State, to the amount OF two hundred
thousand dollars ls200, ,0OO), to. the
Brcakwater and Fragkford Railroad
Company, and ths amount 50 loaned will
further increase the State debt, after re-
tanning the sum OF twenty -four thousand
dollars ($24OO0) to pay interest thereon
for two years, one hundred seyenty-eiz
thousand dollars ($l76,OO0)i making the
whole public debt one million two
hundred and fifty thousand dollars
81 ,250, ,000). .,s ft
1t will be seen by the report OF ths
of the assets Of the State, including In.
vestmenta appropriate to the School
Fund, amout TO ons million one hundred
and twenty three thousand one hundred
and eighty mine dollars Isl, IL, ,l8e). Thu
amount OF liabilities over all 'aassts b
one hundred thousand eight hundred
and eleven dollars ($l00,BlD, and oven
assets not appropriated to the Schoo
Fund, fve hundred, and ,seyepty-si,
thousand nine hundred and tfty dollars
(S576,950. f'th rTr lsGZ
This later amount may properly be re
garded as the real debt OF the state ovel
under proper circumstances, would bs
: justified in disposing Of the Investments
not appropriated to the educational in
terest Of the State, and applying thu
amount realized therefrom to the pay
ment of the bonds now outstanding, tn,
oxigency, I apprehend, would be mos
extraordinary that could induce the Gen
. eral Assembly to divert the Investment
set apart for school purposes from, tn
! object to which they have been so lon,
: and benefcially appropriated. ! ca
, contemplate but one contingency, an,
that, it is to be hoped. hoped, very very rs%gt e
/ such action. II the Congress Of tn
> United States, by the passage Of O. bill
, now pending in the Honso Of Bepresen
tatives, or by the adoption OF any simila
measure, shtnl interfere with the edu
3 cational interest OF the State for tn
: purpose of compelling the education O
white and colored children in mike,
schools, the Legislature, in my judgmen
4 would not only be justified, but require
\ by public sentiment IN the State, to cal
n in the Investments sell apart for commo
n schools and apply the Same to the pay
: ment Of tine public debt.
+ STATE AID TO WORKS OF INTERNAL IN
= nf PRovEMENT. .f.f.A
: More than five hundred thousand do
+ lars Of the present debt Of the State ha
a been incurred in aid of the constructio
a of the Junction and Breakwatsr Raj
l. road, and the Breakwater and Frankfor
n Railroad. Without intending to erpres
e any opinion upon the proprietv Of tn
" action Of the Legislature in laiding th
" construction Of these roads, I respec
t. fully suggest that no further increase
= the public debt, for similar purpose
.e ought to be authorized by the Gener,
Assembly. The credit Of tho STA,
ought not TO be placed in jeopardy
ady further issue Of bonds, nor shoul
10 rsyenues deriysd fxsm taIAtioA, or othe
,eI wise, be. applied % any othert pprpos
rs than the ofdinasN sxpeusea tcf the go
to eminent ard thu reduction fzthe pre-
o. ept liabilities Of the Atats. \y'<aNGB
b viii be made t6 tks Eegislaturs. At /
1T present session, for aid IN the constru
a. tion Of railroads or other works OF inte
b. vietion thatenS. Holiey Hhich would ~
lie ther connect the State yith railroad i.
r. credit, deem IT an imperative duty
Of urge the necessity Of guarding careful
ne against any augmentation Of the Sta
4 l "A 2.~.l- ~ =.