Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1893-01-19

oChOly
In obedience to the requirements of the
constitution, herewith present to you my
annual message, showing the condition OF
the state and recommending such measures
as deem expedicnt
Condition of the state.
| congratulate :hc legislature and the
people on the condition Of the state at the
close Of the fiscal year 1892 Its financial
condition was never better 1t has no float
ing debt; the old debt was paid off during
the preceding year, and none has been in
CURED since. The balance in the treasury
at the close of the fiscal year was $217,-
532. 10 greater than at the close of the pre-
ceding year.
The comptroller's report shows that the
net expenditures for ordinary disburse-
ments, special appropriations, payment ON
the war debt and for other purposes
amount to 81, ,656, ,351.96 There is due at
the date of this message on the old war
debt the sum Of sS31 400, with more than
sufficient assets in the possession of the
state to pay this debt
There are assets in the sinking fund for
this purpose amounting TO the sum of
S47l, 40, and the state owns 1887 shares
Of the stock Of the United New Jersey Rail
road and Canal companies which would
now sell i'll the market for s437, 1874, and
also riparian leases the principal sums of
which amount to Sl3694 20, making total
of 1922, 80 for the payment Of this in
debtedness of $S31, 400 These war bonds
would therefore be extipguished but for
the fact that they are not due, and the
holders thereof demand premium of 35
per cent. The debt is being extinguished
as fast as it is legally possible to pay the
same.
All the state boards and institutions are
in excellent condition and are being con-
Quoted as economically as possible consist
ent with efficient management
New Jersey imposes no state tax what
ever except for school purposes. The
amount collected for this purpose is re-
turned to the localities and not retained
by the state. The people have always been
willing to pay tax for the support of free
public schools. The only complaint has
been that oug agricultural communities
have paid a larger portion of the school
tax than the cities, and that this excessive
burden was due to unfair school census re.
turns made by certain localities. This
complaint will have no force in the future.
Under the recent act requiring a state
census an accurate and honest census Of
all the children Of school age in the state
has been taken, and this will serve as a
basis for a fair distribution of the school
tax raised. This census has been taken at
very small additional expense to that Of
the old census taken by the local assessors,
while it has saved to the people of the state
nearly 100000 by eliminating from the
census the names of thousands Of children
that either had no existence or were out
side the school age.
There is no necessity for any increased
taxation either upon corporations or indi-
yiduals for ordinary state expenditures
The revenue we receive is sufficient tomain-
tain all the different departments of the
state government and leave a surplus that
can be used for extraordinary expenditures
The condition of the state, however, does
not warrant any large expenditures for
new buildings or extraordinary expenses
The only new source of revenue has been
the imposition of a collateral inheritance
tax, which, although but recently imposed,
has secured to the state over S20,0 900 of in
creased revenue. If, however, the state
should require additional revenue the taxes
upon railroad corporations can be increased
until they pay equally with individuals.
The municipalities of the state may
properly ask for additional revenue to
relieve the heavy burdens now imposed
upon them, which relief could be given
them by removing the exemptions on cor
porate property taxed for local purposes
allowed under the act of 1884, and such in
crease can legally be made until these cor
porations pay under the act of 1884 equal
taxes with individuals in proportion to the
property owned by them.
1t has been suggested that the act which
provides for the payment of the proceeds Of
new grants and leases into the state fund
be amended so that these moneys be paid
to the school fund. The net amount re
ceived by the state last year, after payment
of expenses in collecting this fund, was
$50, 791 16 If this source of state revenue
is to be extinguished it will diminish the
power of the legislature to use these funds
for public purposes. If the money is paid
into the school fund it must be invested,
and only the interest derived therefrom
can be used. The principal is tied up for
all time if once paid into that fund.
If any legislation is had upon this sub
ject, as it will affect the state revenue
recommend to the legislature that it pro-
vide, first that all the moneys expended
by the state for salaries or expenses of the
riparian board, or necessarily expended in
collecting or taking care of this fund, be
paid out-of the moneys received from these
grants and leases, so that the state will not
be obliged to pay out of the state revenues
the expenses of collecting the fund when
it receives no portion of it. The legislature
should then designate the use to which the
balance Of these receipts should be appro-
priated.
| recommend that the balance remaining
be appropriated in bulk to the reduction
Of the state school tax imposed upon our
people. The state school tax and the other
moneys expended for school purposes are
heavy burdens in many farming localities,
and l know of no better use for money de-
voted to school purposes than to apply it
to reduction of the state school tax so as
to tighten the burdens of taxpayers to
that extent.
Finances.
The reports of the comptroller and treas
urer present in detail the financial opera
tions of the state for the fiscal year ending
Oct. 81, 1892
There are two funds referred to in these
reports--one the state and the other the
school fund. They are kept separate from
each other, and / shall deal with them in
the same manner
State Fund.
The state fund received during the fiscal
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