The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1905-05-09

next. While the official life of the
members of this Board has been con
tinued some eight months by an au.
thority which did not send them here,
That authority made no provision
whatever for supplying the funds
necessary to furnish this town with
the necessary amounts for carrying
on its various operations until the
Board to be elected at the Fall eiec-
tion takes office. We have found
means within our original charter to
help US out in this difficulty This
means does not enable us to change
the fiscal year, SO we are left in this
situation. The fiscal year OF the
town begins on the first of May and
the official year, or terms of the mem
bers of this Board, begins on the first
of January. One result Of this is to
make it necessary for the Board at
the first meeting in May to poyide
the means for running the town dur
ing eight months of the year follow
ing, when they have the disposal of
the money raised, and also for the re
naming four months, when the new
members, to be elected, shall have
taken their places. The new nleIn-
bers coming in during the latter part
of the year will be practically with
out power to originate any improve
ments until the first of May follow
ing their installation, as they will
have no funds at their disposal ex-
cept what may be left by their prede-
cessors in office. This is not the
first time in the official life of the
members of this Board that the legis-
lature has caused us to be confronted
with a difficult situation. AS you
have succeeded in surmounting the
difficulties on previous occasions,
you will meet this situation, I have no
doubt, with equal success.
The other unusual circumstance
which confronts us is the possession
of an actual cash balance of upwards
of ten thousand dollars in the treas
ury. There are so far as know. no
bills of any magnitude outstanding.
The only obligations unpaid are the
current ones, for which the parties to
whom they are owing have neglected
to render bills.
While this is cause for con6rat-
ulation. it is also cause for serious
consideration. Morristown has been
exceedingly jealous of its financial
reputation and has carefully refrain
ed from incurring any bonded indebt-
edness. 1t is today free from debt,
either on notes in bank, on bonds out
standing or in any other form than
the small balance referred to. 1t
must be courageous body who would
advocate the mourning of bonded
indebtedness by this town. But the
time is coming when 1t looks as if
certain matters which are necessary
could not be obtained without incur
ring such an indebtedness. 1t has
not vet confronted us and it seems
to me it is the part of wise policy
to abstain from increasing the cur
rent expenses of the town or contract
ing an indebtedness above what we
have means in sight to liquidate, We
should not incur a floating indebted
ness of any kind, unless there is some
urgently demanded public improve
ment Of a permanent nature to justi-
fly it.
In connection with the fipancial
situation OF the town, attention
should be called to the fact that the
law under which the county built GER
tain macadamized roads through our
streets makes it obligatory on us to
pay one-third of the cost thereof.
This one-third is estimated to amount
to little over $4,000. This has
never been paid and is still outstand-
ing.
The town treasurer has made GER
tain recommendation Tor meeting
this obligation. which the committee