Perth Amboy evening news., 1923-01-09
GOVERNOR EDWARDS LAST
MESSAGE TO LEGISLATURE
CONTINUED frtm page -

~ GaAS N8Nh - HN
lected from the producer so as to
insure collection as a minimum cost,
and the proceeds to be devoted to
the maintenance of our highways
While there was introduced a Dill
carrying out such recommendations,
it failed of passage. The legisla
I ture of last year enacted a statute
providing for the creation of a debt
of this state in an amount not e%-
Ceeding forty million dollars, ana
| the issuance Of bonds therefor. IN
compliance with the constitutional
requirement, the act was submitted
for approval to the people at the
general election of November, 1922
which approval was given me
statute provides hat the bonds
shall be issued from time to time
(! as mons is required for the pur-
| pose for which they are authorized,
as certified by the State Highway
Commission, in no greater amount
than eight million dollars in any
calendar year. To provide ond
for the payment of the interest and
principal Of the bonds so to be as
sued, the statute authorizes the as
sessment and collection of a tax be-
ginning with 1928 and continuing
until the bonds are retired The
tax for the period between 1873 ana
1927 is to be not less than one min
on each dollar of the value OF real
and personal property in the state.
but during such period II here
after the amount to be raised by
taxation must be a sum sufficient to
meet the interest on all outstanding
bonds as it is proposed to issue in
the calendar year in which the tax
is TO be raised and for the creation
of a sinking fund for the retirement
of all such bonds. Upon the as
sumption that the State Highway
Commission will proceed with the
execution of the road program OIL
the state necessitating the issuance
of bonds in considerable amounts. 1t
would seem to be ~self-evldent that
such measure designed to proVlGe
additional revenues to be used for
the of tightening the lax
burden created by this act IS highly
desirable A tax of one cent q eaI>
lon on gasoline sold or used in auto
mobiles will result in the collection
each year of O. large sum or money
which can be used for meeting IN
part, the interest and prlnclpai OIL
such bonds as may be issued for the
completion of the road program;
The imposition of such a tax Would
seem to be Just and equitable, be-
canse if imposed it will be levied
upon those who, / think, are the
immediate and direct beneficiarlAs
of the extension and completion OF
the states road program. Inc COL
lection of such moneys would re"
lieve some of our taxpayers who are
NOT directly benefited or benetted
70 +he same extent, and l therefore
reconmend that legislation be
adopted providing for such tax.
[ may be pardoned if l depart
from my announced intention Oh
leaving to my successor recommen-
dations of future policies. But !
cannot leave the subject
suggesting that although the people
have given their approval TO tle
statute authorizing the creation or q
state debt of forty million dollars,
the legislature should consider very
seriously the repeal of the statute,
and the substitution of such other
mans of raising the moneys neces-
sary to complete the program. L am
not satisfied that the state should
embark upon the policy of expend-
ing within the mex five years upon
roads alone as large a sum OF money
as forty million dollars. In a word,
I believe that economy and ~retrench-
ment should be practiced whenever
possible.
And before I leave the subject
of state road construction L think 1t
only simple justice for me to public
ly expires my appreciation OF the re-
suits accomplished by the present
State Highway Commission. The
commission during the period of its
official life has accomplished much
than the board or commission
which preceded it. The members of
the present commission have been
diligent, faithful public servants,
They have built roads, and good
roads, and I should be ungrateful to
the men for whose official service L
am AAponsible, had l not publicly
announced my belief In their compe-
tence and integrity.
Morris Canal
T call your attention to the fact
that the legislature of 1922 enacted
a statute creating a commission to
negotiate and agree, If possible, with
the Morris Canal and Banking Com
pany and the Lehigh Valley Rail
road Company upon terms of settle
ment in relation to the canal prop
erty and water rights of said COM
pany, which act authorized the &C
QUESTION by the state of the said
canal and all the stock of the Morris
and Banking Company and
the rights of all stockholders in said
company and in said canal property
and water rights and all or any part
of the right. title and interest of the
Lehigh Valley Railroad Company in
said cana, property T. water rights.
Under said statute the commission
directed to file a report on or
December 1, 1922, of the re-
suit of it's negotiations. / am adj
Vised tEat an agreement was made
and entered into between said COM
mission, on behalf of the state. and
the said companies. which agree
nent is on file in the Office of the
Department of Conservation and De-
Velopment and a copy on file in the
Office of the secretary of state. /
am further advised that under said
sill the property of the
said Morris Canal and Banking
and Lehigh Valley Rail-
road Company, which is to go to the
state, and which has not already
been turned over, is to be SO turned
over on March /, 1929, and the on
tract or agreement so made and
completed on that day.
Under said agreement the COM
panies bound themselves % to pay
the state of New Jersey In cash
the sum of $4,000 in five equal an
nual installments, the first of which
paid on December Is, 1922; the
subsequent installments are to be
paid on the fifteenth day of Deem
Der in each year hereafter. CD To.
convey to the state all the lands,
lands under water and premises
comprised within the Canal Ter
ninal Basin in Jersey City, COM
monty called the Little Basin" with
the docks, Wharves, slips and i'm