The daily gazette., 1882-12-27
THE CITY AND STATE.
LOCAL NEWS OF NOTE AND
IMPORTANCE.
THE STATE TREAsURER's REPORT
An Interesting Document ON Delaware's
Healthy Finances How They Have
Been Managed


Robert J. Reynolds to the Governor has just
been issued from the press, and a copy has
been received at this office. In speaking of
the finances, of the State,' after detailing the
operation of funding the State debt he says
Thus 1t appears that the financial condi-
ton of our State, during the period covered
by this report, has been of the most healthy
character, and that our people have cause
for congratulation In that by the conversion
of the Philadelphia, Wilmington d. Balti-
more railroad stock our School Fund was
increased $40, $50, and, by refunding the
State debt, we not only reduced our annual
interest from to 4 per eentum, but we re-
ceived into the treasury, on the sale of our
new bonds, a clear gain, as premium,
OF 27,905.05. And now, at the close
of another two years in this depart
ment, after meeting promptly the semi
annual interest ON our Indebtedness, and all
other claims against the State, | arm pre-
pared to redeem and cancel bonds to the
amount of 500, 10000, for which ! have duly
made my call, and which, as shown by the
following summary, will leave our State
debt, after the first day of January next,
amounting to the sum of only SS64, 10000.
The present debt of the State amounts to
the sum of 1854, ,750.0O.
1t will be seen that our assets are greater
than our Indebtedness, and that If our total
debt was deducted from our total assets 1t
would leave our assets In excess of our bebt,
1904, ,04y.00, with prospective receipts on
January |, 1888, SS1 ,0S6.S8.
Whilst reporting the matter, 1t might be
we'll to add that, under an act Of the Gene
raj Assembly, passed at Dover, April l.,
1881, have paid out for school books the
sum of $5,S79.45 and have received back
into the treasury for the same the sum of
81, ,979. 81, which leaves in the hands OF the
State Superintendent, for books invested, a
balance due the State of S2, ,899.91.
In my last report invited, through your
excellency, the attention of the Grand As
sembly to the fact that certain of our
National Banks had refused to pay their
State tax on shares. The result of the action
then taken by that honorable body is, that q
suit ia now pending in the Circuit Court of
the United States for this district, which
suit was brought by the First National
Bank of the city of Wilmington against me
as State Treasurer, and which, by consent
OF other National Banks Of that city is to be
test case. Late advice from Attorney
General Gray is that he is doing all he can
to hasten an early decision, and hopes to
obtain one during the winter. But as the
question now stands, and in view of the un-
certain result of what has been done,
deem it my duty to renew my former sug-
gestion and again invite the attention of the
Legislature to this important matter.
The receipts of this department since
January IL, 1882, the date Of my last settle
ment with the Legislative Committee, under
the various acts to raise revenue, and from
all other sources belonging to the General
Fund Fun, aoo have .U amounted to the sum of
The report concludes as follows:
Ill. a.,
more generally known as the Oyster Law,
there has been received during this admins
tIation, after deducting therefrom all
requisite expenses, $9,04l.21, which has
been disbursed in redeeming State bonds
as is directed by law. y
But cannot close this report without in
dulging in a few remarks, more personal in
their character than pertaining directly to
the duties of the office, which, however, l
trust, will not be considered inappropriate.
desire, thus publicly, to acknowledge my
appreciation of the many marks of conf
dence which ] have received from our peo-
pie everywhere, and especially do ! desire
to return my grateful remembrance to the
members of the General Assembly who
have from time to time entrusted me
with the honorable position from which
am about to take leave; and to the officers
of the Farmers Bank at Dover, and the
officers OF the Philadelphia National Bank
in the city of Philadelphia, do / desire to
express my highest regard and admiration,
and for the uniform courtesies and assist
ance that have received at their hands
gladly embrace this opportunity to sincerely
thank them.
In conclusion, am, with due respect,
very obediently yours,
ROBERT j. REYNOLDS,
State Treasurer.