Middletown transcript., 1909-10-16
10 LOAN NEEDED
State VIII Not BorfoH ssoo AultsS
LED hY Easi eeisInlnrs

State VIII Not Borrow ssoseeo Aulfss
lzed by Last Legislature
Doves, DEI October 9th. Tbs people
oi Delaware Y Ii probably rejoice d know
that their financial roldilion as 4 STATS
is such siias they may not have u bofrow
q $50. 200 emergency Eand to meet Cur
rent expenses, provided for durine llss
closing hours Of The last Legislature.
When the fact that little Delaware
might have 70 borrow $50. 900 to meet her.
current expense account and pay her
bills a. they were presented, becams
known during the Legislature there sac
storm Of protest aud the only persua.
sion that could be used to secure tie
passage Of tile loan bill was that it would
probably not be nsededs
Times have become better since then
and people have paid their bills and State
revenues have begun to come in promptly.
Besides all this, the new State House
Commission has not drawn heavily upon
the general fund for the S62, 500 appro.
priated for new administration building.
They are putting it off in the work Of
preparation until it is now not likely that
they will draw heavily this year.
Next winter, there will be no Legisla-
ture, costing $50. COO or $50 900 in session,
and the States regular revenues will
therefore remain unexpended.
Chapter Is, entitled "The Revenues Of
the State" Of the new laws Of Delaware,
enacts this:
"That the State Treasurer be aud is
hereby authorized to iseue notes or GER
.tificatea OF Indebtedness Of the State Of
Delaware to such an amount as he shall,
by aud with the consent Of the Governor
and the Secretary Of State, deem necessary
to meet any d ficiency which may occur
in the general expenses Of the State for
the year 1909, not, however, exceeding
fifty thousand dollars, etc.
The above loan Law. however, though it
raised tempest at the time, will prob.
ably become simply page Of reading
matter.
. Que thing that has helped is the new
industries becoming incorporated which
have added their generous aid to the
strong box Of the State. Wilmington's
business has increased and the clerk Of
the peace Of New Castle county, together
with other quarterly Feeeipts for new
licenses and old lakes, steps in With big
.lift at the brginniag Of October, 90 that
the State Treasurer has been able 10 de-
post S50, 900 siI.ce October 1st.
The condition at The end Of the quarter,
last week, showed this slate Of tiscaf
affairs
In the general fund, Sl6s. .s2O.S5; in the
school fund, $2s, 7S2 II, and in the sink
ing fund, $26S.57 The balances in the
sinking fund was low. because the State
Treasurer is complying with the law just
passed to invest these funds. Good M
vestnlents are being made and the COM
mission having this in charge is entitled
to much credit.
Regarding The general fG2d. however,
all is not gold that glitters therein. Thsr-
State of Delaware pays $l32, goo every
year for the aid of its free public school
system. This $4,000 will, thsrefors.
have to be deducted from the general
fund. But there is still to be added The
$5o, 900 which the State Treasurer hes
deposited since October lst,
1t Is, therefore. the opinion Of the State
officials that the $50, O,UuO viii not have g
be borrowed, and Delaware Is nct running
behind by living beyond her means.