The daily gazette., 1875-03-31

600 in State bonds due belonging to Del
aware College fund. These will not be
paid but replaced with other bonds.
And now as to the amount that is like
ly to be derived from the present sources
of rovenpe. The assessable property La
BILE to the tax known as the ten cent tax
will probably be reduced S12, ,000, 900, ow--
ing to the repeal Of the tax on bonds and
mortgages other than corporation bonds
and mortgages, measure emlnently wise
and just. Owing to the manner in which
the county assessments are made lind
it impossible to arrive exactly at what
this sum will be, but those in whose
judgement have great confidence esti-
mate the sum at the amount stated
above-Sl2, 600 ,000-certainly not more.
Deducting therefore the ten cent tax on
this sum, amounting $4,000, from the
State tar on county assessment of 1874,
which was SCI ,973.11, we will have in
round numbers $50, 900 for revenue from
this SOURCE in 1875.
/. The process tax will probably he about
Sc, 600 iesss than It was for 1874, as S0,4e0 :
was derived from the recording of one
instrument by the Bombay Hook Rail
road Company and this is not likely to
occur again this year. Deducting those
$4,000 from the amount derived from the
process tax in 1874, leaves $4,000 as prob
able revenue from this source for 1875.
The taxes upon Railroads will con-
tribute to the Treasury quito $4,000,
more than in 1874, as understand it is
the intention of the State Treasurer to
collect from certain Railroad Companies
the amounts.which they are in arrears to
the State. The whole amount of taxes
from railroads will not be less than $44,-
600. We have every reason to believe
the Junction and Breakwater Railroad
Company will meet the interest due on
their inartgage which will amount to $24.-
600. The interest on the Breakwater
and Frankford Railroad is secured by u
reserve of bonds; it is therefore safe to
depend upon that amounting to $4,000.
The license fees will probbaly not vary
much from those of 1871 when the aggre-
gate was 700. The interest on bank
stock belonging to the general fund, con-
sisting of S63, $50 in stock Of Farmers
Bank and $4,000 in Bank of Delaware
stock, will be S4,545. There are other
items of revenue which will probaly for
1875 vary but little from last year. The
increase, therefore, to the State Trea-
sury, together with the cash on hand at
last settlement with Treasurer will be as
follows for 1875:
State Tax on County Assessments. O00O 90
loSCoS
Tax on railroads. ...................... $4,000 90
Interest from j. i b. r. R.........:... $1,000 OO
Interest from Z. Il Frankford II. r.. 1000 W
License ices as'.9e 9e O1 0o
Tax on Banks and Insurance Co.'S. 726I ~
From Secretary of State e...........,...... II: W
Fines and miscelan eous. ...........'.. ,l64 ~
Cash on hand January Is, ls15.."....... l9l3l VI
Total. aL.............."............. $22OGO0 o2
Deduct from this sum of the expendi-
lures for 1875 reconed above at Sl83, ,14O
and we have q surplusof$3 ,469. This sum
| in all probability will be increased by at
least $4,000 as the counties are in ar
rears to the State to the amount of $780,
| 600 or S27 900; about as follows New Cas-
| tie, $4,000; Sussex, $4,000; Kent, $4,000.
The sum due from the las mention
ed county is for all the taxes OF 1874.
and part of those of 1873 B; subject
to allowance for errors, etc. The same
amount of arrears not likely to be carri-
ed over the next year as the large "a
mount due from Kent county is owing to
the extraordinary demands upon her
Treasury during the past year, for the
New Court House, ets., rendering 1T
| 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 Leg
| islature in 1876 and the expenses of
that year will be reduced from those
| of 1875, about as follows:
Legislative expenses. $23, 900
Centennial ration................... 1h00n
Fees to counsel and fishery commission. $1,000
| Total....,......,. -. .... $5s, 500
So that the probable surplus for
1876 will be quite $40, 600.
This statement, which l am quite
Isure is correct in every particular, will
show you that our State financial con-
dition is healthy and highly satisfac-
itory. Whether these facts will justify
further reduction in taxation, you, in
your wisdom, must decide. L. is a
wise and safe policy that will require
the revenue to be in excess of eXpendi-
tures. Indeed liberal margin should
be kept to allow for any extraordinary
expenses that may be called for, or any
; falling off in revenues that cannot be
anticipated. | am inclined to the OPP
inlon that if any further moderate re.
Iduction of revenues could be made
which would tighten still further the
general tax, it would probably be safe.
but am not prepared to say that 1t
would not be wiser to allow the re-
venue to remain as at present and in
struct the State Treasurer to purchase
State bonds at the end of each year,
} when the surplus in his hands shall be
in excess of Il certain amount-say $50,
600. On January 1st, 1885, State bonds
to the amount of $70S, 900 will be du,
: and payable. With the present rcven
ues and expenditures this debt can be
paid before it is due. Is it not bette
! to pay this debt little by little and b'
done with it, rather than depend upon
, liquidating it when due by an issue
!, of new loan.
SNOW BIRDS AFTER GRAssHoPPEI
EGGS AND DARKEYs AFTER SNOW