Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1923-01-03

Governor Presents Budget.
Immediately upon the conclusion OF
his formal mcsaaEe 10 the General A.
scmbly. Governor Dcnncy road a por-
ton OF tho State budget for the en-
suing bicnnium. beginning July I.
1898. and thereby making this report
virtually portion Of HIS biennial
me~uaGe
Tho Joint sesNon adopted n motion.
that the message IN spread upon tho
journal Of each branch OF tho 1@Ets-
laturc. and then II was decided to
have printed 900 copies
The two HOUSES then separated.
The governor pointed out that this
Ia the nret budget under tho new
budget law. and he took II for grant
cd q few remarks on its construction
ana contents would be welcome infor-
nation. A sraphic chart " tho state
, mcntA composing the budget 10 pre-
scented with tho report md they are
segregated and titled In the report as
follows. according 10 Govrnor Den
ncy's report today.
Exhibit \, IL n general comparative
summary of all past and future trans-
achonA requests and recominenda-
lions. covering the past two and
future two yearsl
From this statement will be seen
the disastrous results that would fol-
low II the appropriations and bond is
sues requested by tho various sscn-
ciee for the ensuing bicnnium ara al
lowed In view OF insufficient revenue
to meet the increased expenditure.
which would hc tho result.
The states surplus availsble for
meeting current bond liquidation and
Zoe the emergency of increased or
penditures over revenue 10 ncw 81
sal .lap57 II all the requests uer~
allowed. thl. figure would he reduced
| to 1852. 0se.T7 by June 30. 1875 THE
.urplus must. by 1889. meet curren,
bond liquidation Of more than $780,
600 Pu. n expenditures continue TO
exceed revenue by a half million dol
lars q year. this surplus 81 S76e .ose n
will he wiped out in the 1927 bien-
| MUM.
The state cannot safely reduce the
surplus The invested surplus r.
| furnishing about 10000 per year
The current .ur,lu~ will start psyins
off tho current bond iiauitations In
1927. r, the surplus becomes urs
necessarily large. portion OF u
should ne invested temporarily. 10
provide additional revenue for the
general fund.
Hence. the only practical way 20
moe, all requests for sppropris lions
In 20 increase revenues accordingly.
l n IA t.tn mi
ling facts shown by these statements
are that expenditures exceeded rev.
ouue In 1921. and 1929 Ivy sae7 ooo. and
S233 zoe. rrspcctively. and that the
school fund shows a deficit a. the end
~ tho SECOND year amounting 90 fste.
600. According 10 law. this donci, car
he created during a school hiennium
Nu, mus, no closed out h~fcre tho end
~ the bier MUM.
Revenue Of tho school fund heinz
insufficient for this purpose. Il Il
recommended that the auditor b
authorized to approve bills not OK
, cccding the appropriations ALREADY
made for the school h,ennium endinl
Juno 80. 1924. the same TO DO paid h.
, the treasurer from tho general fund.
, Exhibit B-s. This IL n summary q
. the estimated conditions 81 revenu
, and expenditures for tho six month";
period intervening between the On
, OF the old nscsl year. January, 1921
and the beginning " tho new rscs
year. July I. 1919. II will he seen thu
- expenditures are barely KEEP, With
the revenue nrurc The detail 81 IN
. period. January TO June 30. 49,,
!, Is here shown. In order TO facili,a'
the General Assembly in making nj
propriations 10 cover this period
Exhibit, IA From this statemcr
Il will he seen that requests for appr,
priations for the year ending June }
1924 exceed estimated revenues by n
most $500. 600. the bulk - this beir
In the school fund. which reques
ss0o. 900 NOR. than It's estimated re'
snue.
As shown by exhibit A. this cot
iltion cannot exsi II tho State wish'
20 follow the plan OF liquidation Of =
Indebtedness from surplus revenue
+ because in such cases there will he 7
r surplus revenue. and bonded indebte,
l. ness would then have 10 he met
Increased taxation. or by tho iseue
new bends. both OF which plans won
u 30 unbus,ness-llke.
Exhibit B-5. In general. the r
marks assigned To the previous e.
hib.i. apply to the year ending Jul
so 1875.
D. Exhibit B-s. This statcmsnt shov
o. the estimated conditions for the ys
w. ending June 80. 1924. based on n
NJ Recommendations have reduced q
= school estimate from $4,000. 900.
'E f2.l0o.Ooo. a figure approxlmSung
4" estimated revenue. other reaues
have been reduced where. In my jud
~ ment. such reduction could be ma
without impairing the efficiency
.e the organizations involved In tho pu
-. pose. being 70 enable the State to u
~ within its income.
|. Exhibit y. Attention IL invited
ms this statement of summarized reyen'
AZ IL shows that the States revenue
y increasing AZ the ratio ~ 800 900 I
>. year for the years Of two bienmum
n Schedule C. This u a summary
,ir the budget estimates arranged
nj State functions. This statement sho
a that the expenditures from appropr
tons for 1921. total si.I0o. 900 As
lis matter Of fact. as shown by Exh.
~ 81. tho expenditures Of the ST
gs were over $4,000 600. A great q
ri could be said IN favor Of asslgnl
sit all State revenue 10 the general fu
p and controlling all expenditu
through legislative appropriations;
for the time being. ! simply reco
mend that the Legislature consi,
the matter. and II favorably consider
IL n special report VIII be made on