The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-10-26
STATES 100000
BALANCE REALLY
MARKS A DEFICIT
Only $500, 900 Unexpected Re-
sources Saved Treasury
from "Going Broke"
Irrom q So cerrespondent.l

TRENTON, Oct. Estate officials
who have investigated the financial
question declare that State Comptroller
West refers to free money against
which stands no obligation when he
predicts that at the close OF business
for the current fiscal year Saturday
night a balance to the States credit OF
from $780, 900 to $1,000.0G0 VIII be shown,
There are some rather ambiguous state
ments in the last report of the state
comptroller, and it Is claimed here
that misunderstanding Of them is re-
sponslble for the belief that the prece-
dent of former years is to be followed
and a bookkeeper's balance Of q large
sum announced on the eve of the cleo
ton for political purposes.
The estimate of receipts by the State
Comptroller for the fiscal year which is
drawing 10 a close, made at the time OF
tho of his last report, was
S4,3f1, $50. which. combined with the
S5S4,S0S on hand at the beginning OF
Ibis year, made the total resources OF
the State for this fiscal year 1885, 900,
or $1O,0 600 more than the amounts due
on old contracts or appropriated In
the annual appropriation bill for the
current wear. as passed by the 1908 Leg
islature.
II was because this prospective bal
ance of $10,0 900 was so small that GOV
ernor Fort took the steps he did to IN
crease the States income, and that
such strenuous attempts We're made to
economlze. The supplemental bill
passed by the 1909 Legislature, called
for the use of 1922, 900 Immediately with
but $40, 900 of free none in prospect.
Even that big supplemental bill was
less than one-half of the supplemental
bill of last year.
If no tempt had been made to in
crease the income of the State, or cut
down expenses, and the Comptroller
estimates had been correct. the state
financial officials explain, there would
have been a deficit of $4,000 as a re-
suit of the enactment of the supple
mental bill.
But the comptroller underestimated
the State our 5000, 900, besides not
counting on an increase in the collateral
inheritance tax collections. The Legis-
lature, at the direction of the Governor.
took more than 100000 Of money be-
longing to public schools and lying in
the State treasury awaiting distribu'
zion, and applied n a to general state
uses, an action which has been n OF
The chief bits of Democratic ammunl-
ion this fall, increasing In a single
stroke. as 1t did, the tax rate OF Newark
by two points.
So the c~omptroller's conservatism as
a prophet M the diversion of school
funds increased the amount available
for the fiscal year by more than half a
million dollars. To that must be added
a more than $780, 900 increase in the col
lateral inheritance tax, making the to-
tai amount for the year In excess OF tho
estimated over sS00,o 900.
From these figures the comptroilers
office shows 100000 In excess of all obll-
cations and promises, with automobile
receipts and other funds figured In, to
make the balance at the end of the year
100000.
There is promised a heated contro-
versy over the question before long
Those who charge a plan to announce a
s'political balance" refuse to take seri-
ously the foregoing reasoning.