The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1890-01-21
REFOR NJ !!
Leon Abbett's Ringing
Appeal for Fair Tax
alton and a Pure
Ballot.
FULL TEXT OF HIS ADDRESS
Every Feature of the Aus
tralian Voting System
Endorsed.
A BOMBSHELL
FOR REPUBLICANS.
Every Campaign Expression
Manfully Adhered to-
Railroads Must
Pay More.
| A BOMBSHELL
FOR REPUBLICANS.

The full text of Governor Abbett's
great inaugural address, as delivered by
him this afternoon, is as follows
Gentlemen of the Senate and General as
SenlblU--
I assume for the second time The duties
of Governor of the State, fully appreciat-
lug the high honor conferred uDon me,
and deeply impressed with the grave re-
.sponsi bilities imposed by the duties of
the office. l shall devote my best ener-
gies to advance the prosperity OF the
State and to secure to the people the
blessings of good governments, and g wise
and economical administration of public
affairs.
/ take q Just pride in the exalted posi-
tion of our State among her sister COM
monwealths, i'll her material growth and
prosperity, in the increase of her popula-
tion and in the conservative ana moral
sentiment of her people. An imperative
sense of duty, however, impels me TO pre-
sent for your consideration certain
facts and questions demanding
legislative action, together with my
own views as to the. proper mode
of dealing with the conditions thus pre-
sented. You will, in the exercise of your
independent Judgment, act as you deem
for the best interests of the State Ny
dnty. in acting upon proposed egislatlon,
will always be performed after most
careful and respectful consideration of
your views, and with a disposition to
yield IN matters of detail, when no princi-
ple is involved, in a difference of views
between the Legislature and the Execu-
tive.
FINANCES.
The most important question presented
is the present financial condition of the
State, and the best mode Of dealing with
it. The Legislature and the people ehould
look sQuarely at the facts as they are; the
whole truth should be told and consid-
cred. The people should know the truth
so that they may intelligently commend
or criticise the action of the law making
power in the measures presented by it for
the solution of the question. The Legis-
lature should know the situation, so that
it may act promptly and efficiently.
The estimated income of the State, for
the present fiscal year, according to the
Comptroller's report, is 81, ,335, 600. The
estimated expenditure for ordinary
State purposes is fixed by him at 81, 370,-
O00 In addition to these ordinary ex-
penses the Legislature has heretofore
made appropriations for various purposes,
without providing any means for pay
ment thereof With the present sources
Of revenue and the present rate of ex-
penditures, there is no surplus to pay
buGSt dDpIOpIldVlOAb. AAO PlCoChu lOf-
enue of the State must be used for the
payment of ordinary expenses of
government. The executive, legis-
lative and judicial departments
must be maintained The asylums, pris-
ons, reformatory and other institu-
tions OF the State must be cared for. The
present income of the State being only
penses, some other means must be pro-
vided for the payment of extra or un-
usual appropriations. At the end of the
fiscal year, October 81, 1889, there
was deficiency of $3.50, 9,673.57. This
amount is deduced from the following
figures presented in the Governors last
message and in the report OF the Comp
troller:--
Estimated expenditures for the
fiscal year ending October 81, 1890 ST. $40 600 90
Temporary loans outstanding 100000 %
Amount to pay balance due on
special appropriations. s........... S66,610 05
S2,136,o70 05
Estimated income from usual
sources of revenue for fiscal year
ending Oct. 81 $780,. 81, ,335, 600 90
Balance ON hand Oct. 81,
----- i,57s, ,s0e 4s
DencIency to be provided for. $685. 81
It is probable that portion OF this sum
may not be needed during the present t1s-
cal year, but the whole amount must be
provided for If the present obligations of
the State are to be liquidated. The State
will certainly require of the above amount
at least S450,000 during the present fiscal
year to meet its accruing obligations.
Provision should be made at once for the
payment of the 100000 OF temporary
loans upon which the State is paying, at
present, interest at the rate of five per
cent. per annum The State owns shares
of railroad stock which at the price paid
by the school fund for other similar
shares are worth SAT- ,750. The assets if
used would yield nearly enough to liqui-
date the deficiency. These securities can
be sold or transferred without additional
legislation by the action OF the Governor,
Comptroller, Treasurer and Trustees for
the Support of Public Schools This trans
fer would give the school fund a four per
cent. investment on the money paid for
these shares, a higher rate of interest than
can be realized upon new investments of
.rhis fund There has been d hesitancy
upon the part of the State to dispose of
these assets, even to pay temporary loans,
hesitancy which. in my judgment,
has been wise; because the Legisla-
ture should provide for the payment of
the expenses of the State government
from other sources, and leave these secu-
rites for any great emergency demanding
their use. Such an emergency does not
now exist. II, however. the Legislature
fails to provide for this deficiency, l shall
The Largest Fancy Goods House in New
Jersey.
The Newark Fec Hive No branch store. Big
.laor RING sal heQins January Ii,