The conservator., 1886-12-18
THE SNUG STATE OF IFPSrv

The Way 1t Makes the Railroads p,, e..
Expenses of Government-Its Scbe,ns =,
Get School Lands.
New Jersey is a tight little State
financially. Her debt is less than a
million dollars. relic of the rebellion
ana Is being paid off as fast as the
state officers can induce the holders to
give up the bonds, while the sinking
1und remains always in excess of the
deots. There Is no State tax. all
revenues for State expenses being
raised out of the railroads. The rail
road tax is levied first on the property
OF the roads at a certain per cent. on
It's actual value, and then at q certain
otner per cent. on mysterious some.
thing called a franchise" inst what
TINS franchise Is worth nobody can tell.
put there IS general impression that
the State assessors have cheerful wav
OF ascertalning its value by subtract.
ing the amount of the tax on the real
property of the roads from the anon nt
needed by the State, and then putting
on enough franchise tax to make No
the difference. Anyhow, the total
railway tax always amounts to inst
about what the State needs. Altbonob
the State ranks we'll up in the list in
population and wealth, and particu-
larly IN manufactures, it's running ex-
penses are only little over 81, 900, 900
and 1T pays its officials good salaries.
ana has an annual session Cf the Legis-
lature and other expensive things be-
Its public schools are maintained
and by novel method. too.
Ihere is an annual tax OF half mill
on the dollar for their support but this
Is SIMPLY local tax in general form
as all but ten per cent. of the money
raised by it goes back to the district
Where 1T Is raised. The ten per cent is
dlvlded up among the counties in pro-
portion to the number of children in
each, On the prin pie that the rich
e, ought to help the poor ones.
lhe State school fund, however. is +
maintained for the general benefit of /
ne whole State, and under the Consti 6
utlon can never be diverted to anv r
'ther use. 1t amounts to several mill t
on dollars, and all comes from the :
states assumption of ownership of the c
a. ana between high and low water mark
III along the coast and river front of
he State. This riparian land is leased
r sold to whoever wants to get to the -
lVef front for business or other rea-
ons, and the payments are all turned
Yer directly to the school fund. SO
Iflctly are the laws in regard to this
lterpreted that it is only recently that
le fund has been made to pay the ex-
enses OF collecting the rents. Wher-
yer possible the land is sold instead
leased, for the canny Jerseymen
ave an idea that some time the United
tates courts may interfere and declare
warranted the States assumption of
worship OF these lands, in which case
ases would be worthless, while the
bod hard money paid down for Quit
aim deeds would be safe in the fund.
ld precious hard time those who
I'D it for valueless title would have
citing it back.
The prices demanded and received
the State for some of this property
we been enormous. In one instance
Q pennsylvania Railroad paid half o.
lllIon IN cash for comparativelf
lall mud hole called Harisimus Cove
Jersey City. They had to have Il
make room for freight depots, and
i'd up without murmef Other rail
ads have paid almSst as high for
p = = 4h;a ssffs ssf III darh1 are miles ant
eands OF the Stass.-<1 unless tIi3, !
1rts interfere-as they are now askedi
dc-lt is only a question of timS q
zen the school fund shall be veri- t
Die financial wonder. r.-Erchange. a