The daily gazette., 1879-01-07


similar measures.
The advantages are important and
manifest. BY our adoption of such .
plan the saving in interest would be- scr
viceable, the time required for the final
redemption of our indebtedness would
be shortened, and, with skillful manage
ment, a profitable premium on the sales
of the new bonds might be realized. As
1t IL probable that the present annual
surplus will not be sufficient entirely to
redeem the renal ming 1885 bonds lat their
maturity, 1t will then be necessary to
issue some new bonds to replace tho nn.
paid residue. There seem to be controll-
ing reasons why such future conversion
should be anticipated and effected at
once.
In accordance with the rightful option
OF the State under the express terms ofits
outstanding bonds and by virtue oftheA ct
of 1877, the State Treasurer has called in
and Cancelled large amounts of tue 1885
bonds. Sagacious investors have already
anticipated, and discounted the effect of
the pro bable early conversion OF the ELL
tire issue iuto new bonds maturing at q
fixed date, and bearing a lower rate of
interest. A change from the present un-
certainty regarding the subsisIipg bonds
to certainty respecting the maturity of
new bonds, issued To replace them, would
prove highly advantageous to the state
and It's financial credit, and materially
enhance the desirability and market
value of such new bonds, especially to
the present holders of the outstanding
securities.
In view of the rapid extinction of our
State indebtedness, Notwithstanding the
large reductions OF our revenues of the
vast sums of unemployed capitals seeki ng
safe and convenient Investment, and
OF the successful examples have men,
toned, the project seems as feasible as II
would be advantageous. Without IN
tending to propose definite plan in de-
tail, | would suggest the utility of con-
verting the outstanding six per cent
bonded debt of the State into lower in
terest bearing bonds, issued in amounts
to mature, respectively, at a certain spec.
flied time from year to year, or other.
wise, said amounts to conform to the
ei, imated surplus applicable annually, OF
otherwise to the redemption ofsaid bonds
With these observations, / recommend
the subject to the careful study and ma
ture dehberation of the General Assem-
bly,.
RAILROAD ARREARS
The State Treasurer announces that al
the Railroad Companies within the State
are now prompt in paying their dues ex
cept the Breakwater and Frankford
Railroad Company. On January l, 1877
interest o the amount of $3.50 was due
from said Company, on It's mortgage
given to secure the payment oft the bonds
| loaned by the State. This amount, after
protracted delays, has since been paid
but meanwhile, the Company has allow
| ed the entire two years interest accrui ul
since said date, to become in arrear
| amounting to the sum of 81, ,S86.G6, which
the State Treasurer has hesitated to col
lect by foreclosure and sale, withou
specific Instructions from the Genera
| Assembly, for the reasons expressed IL
his report This sum is almost thrice a.
large as the former arrears,ls nearly one
eighth of the entire mortgage due thu
State, and the prospect of its payment
without legal process, is apparent.
hopeless. The situation is significant
Its impressive lessons, II Is to be hoped
are full of solemn and effective warming
for the future. The duty Of the State i
imperative and urgent. For there can b.
no lust reason why lenity shall b.
| shown to this particular company wbicl
Is not extended 10 others. If paymen
must be enforced by foreclosure and sale
it will be incumbent upon the Genera
Assembly, by all lawful and effectua
means, to take care that neither the mar
ket nor operative value OF the Railroad
1 buhIl DC lulDdiitd ny thO GohSbi "
any competing road, and to see that tn
interests OF the State are adequately pro
tected.
REPRIEyEs, PARDoNs AND REAIssIoEs
In compliance with the duty enjoine'
upon the Governor by the provisions o
our State Constitution. conferrlng upol
him the power to remit fines and fol-
FIXTURES, and to grant reprieves and par
dons, l herewith transmit list OF tn
remissions granted since the conyenin
OF the last Legisture, together with IN
reasons therefor.
| During that interval / have granite,
but two remissions, and no pardons or re
prieves, and, throughout my entire tern
of office, but two pardons and these tw
remissions Within my term numerou
other applications have been made TO
the exercise of executive clemency, bu
the requirements of punlic justice, an
the demands of the public safety hav
obliged me to deny them, or dlsregar
the dictates OF both my Judgment an
, conscience.
Too frequently well meaning citizen
are, unretirctlngly, induced, by mere al
peals to their sympathies, or by represeI
= tations, which are either erroneous c
immaterial, and d, not furnish JUST fiab
, grounds for disturbing the we'll conslde
: ed determinations of juries and courts, I
| Join in urgent, and sometimes irration
Appeals for Executive interference wit
, the righteous execution OF the law. Sue
> q practice Is perpleXing, as we'll a. II
considerate and unjust to conscieniiou
Executive, and, while it may be naturi
and excusabie in the suffering relative
I of the condemned, IL should be depreca
g ed in others, as embarrassing to the a.
/ ministration of Justice, menacing to IL
Z safeguards of society, and derogatory
| the reputation of the State.
, CRIMES AND PUNIsHMBNTs.
: The case of the State against Harl'
:, G. Brown, recently tried in the Court
i Over and Terminer, in and for New Ca
A tie County, has forclbly impressed Il
public miEd with the inadequacy of pr
lection the law furnishes, in its penaltt
to the lives and persons of passenge
upon railroads.
i,,I In the case alluded to, involving u
II loss of the lives Of four persons, the Il
,. cused, under the peculiar circumstanc
attending his act, and the law governil
% the case, was found guilty of manslaug
o ter, merely. This result clearly revea
IS the importance and necessity of son
., legislation which, by the imposition
more severe penalties than are now pr
70 scribed for such cases, will deter othe
/ from the repetition of such heinous az
and NO furnish additional and effectu
protection to the travelling public.
an indication of their sense Of the necs
q sity for such protection, the Court Sc
r fenced the accused to all the penalties o
a. Statutes provide for the crime of ma
Ii. 4