Middletown transcript., 1909-01-16
STATE FINANCES ARE REPORTED
Interesting Statement Made Yesterday
BY Former State Treasurer

4 e. .
Interesting Statement Made Yesterday
by Former State Treasurer
RAwlins
DoyER, DEL. Jan. 1.-THE annual re-
ports Of retiring state treasurer Thomas
N Rawlins and auditor Of accounts.
Thomas G. Roe, we're presented to the
General Assembly to-day, bnt no action
was taken on them. other than accept
ing them and ordering them spread upon
the journals
In bis report, the state auditor calls
attention to some defect in the Law. which
handicap him in the performance Of his
duties. He says:
I'm presenting this report, / am well
aware Of tile fact that il is impossible
for this department to supply to your
honorable body, the full detailed inior-
nation contemplated. Under the exist.
ing statutes, the auditor may knock at
the door Of the different departments Of
the state, but should the officer decline
either to admit Or supply the informa-
tion asked for, there is no provision
made for obtaining same. Owing TO che
fact that clause in the General Appro-
priation Act, preciuded the use of any
part of the contingent fund for clerical
help, nearly one third Of the entire ap-
preparation made for the ten years, still
remains in ths treasury Of the state.
STATE FINANCES
Following are extracts from the report
Of the retiring state treasurer, showing
the finances Of the state to be in a good
condition:
The balances in the treasury, on jan
uary IA, 1908, were to the credit Of the
general fund, $76,ol4.6S; school fund,
$21, ,4SO.72; sinking fund, 500, ,662,O6; a
total of $IlS 1874.
The balances in the treasury OH this
date are to the credit Of the general fund,
$lS6, 449.36; school fund, $5, Is1.1s; sink
ing fund, $5, l42 10; a total of $147, ,042. IS.
at will be observed continues Mr..
Rawlins, that the balance in the treas
ury belonging to the general fund, is
larger, by more than $4,000, than was
the balance at the close Of the fiscal year,
one year ago. The balance then appear
ing, was larger than ha1 appeared at the
corresponding period for number Of
years. 1t should be born in mind, how
ever, that the balance, nov standing to
the credit OF the general fund, includes
the $62, ,4S7 SS, which was the net sum
received from the United States govern
ment, in settlement of the claim of the
state, growing ont Of the expenditures
made during the war Of 1872, and which
was placed to the general fund, pending
such action as may be taken for the
proper disposition Of the amount.
I'm this connection / would call your
attention to the balances received by
me from my predecessors, four years ago.
There we're, at that time, to the credit Of
the general fund, sSQ,bg5.Os; sinking
fund, $I2, ,OO2,sl school fund, $22, ,5l1. .25; |
a total Of $67, ,OS9.14,
'It will be noted that the balance now
to the credit of the general fund, exceeds |
the balance received by me four years
ago, by more than 100000. This balance
would have been much larger had there
not been heavy falling off in the receipts
from franchise taxes.
"An examination Of this statement will |
show the receipts from franchise taxes
for the year just closed, to be $50, 731. 81,
or $49,OS7 SS, less than the preceding
year. The corporation fees received from
the secretary OF state, for the year just
closed, were $40, $50, less by $8S4.91,
than the receipts from the same source
for the preceding year, This statement
Of the receipts from these sources and
espscially the continued falling off Of |
receipts from the corporation fees received |
by the secretary of state, would seem to |
indicate that the advocates of the Law,
passed by the last session of the LegisIa-
ture, were mistaken in advocating q |
measure SO greatly reducing the amounts
20 be received from corporations, nor
should it be forgotten that under the pro-
visions of this law, there will be still
greater reduction in the franchise tax |
rate, and the total Of franchise taxes. dur
ing the coming year, viii probably not
exceed one half Of the receipts for the year |
just closed. Isshouid not be forgotten,
however, that we have been passing
through term oftbusiness depression,
which may have in part contributed to
the result referred to above"
Treasurer Rawlins records that $50, 900 |
Of state bands Of the loan Of 1907, we're
bought by him, for the state, on the
advice Of Attorney General Richards,
after consultation with Governor Lea, at
los and interest These bonds are now
held by the sinking fund, By this pur.
chase, about $4,000 interest has been
saved the state. On January /, 1905, $85,
600 Of state bonds we're redeemed with
moneys already in the state treasury. Il
would thus appear that during Mr., Raw.
Inns term, S55. 900 OF state bonds were
bought with moneys already ia the treas
ury.in addition to meeting other Obliga-
tions ofthe state.
Mr., Rawlins poiutsout that he has been
unable to collect $500 of school fund
debt from Sussex county, and that there
|is still 5000 Of the school fund belong
ing to the permanent fund, that is unin.
vested.