Milford chronicle., 1932-07-22
DELAWARE'S FINANCES

Editorial State Sentinel, July 2Oth)
On what investigation seems to
prove a mere pretext for prOpagan-
da, the claim that someone, some
where, has stated that the State is
broke, those newspapers so anxious
for Governor Bucks denomination,
now ballyhoo what they call the bal
ance in the treasury as a justitica-
ton for the further rebuff to Sussex
county and the ignoring of all prece-
dent in the States history against
re-electing a Governor. We never
read where anyone said the State
was brOke-neVer heard anyone say
the State was broke and whatever
we have in the State treasury is
from the efforts of governors and
administrations which preceded his,
and any effort to give him credit for
same merely shows the lack of other
justification for his return to office.
Nearly a year ago we made the
statement that there was S11.O0O,OOO
in the State Treasury and we favored
the calling of a special session of
the Legislature to appropriate ST.
10000 to help unemployment. Gov
ernOr Buck was reported in the Will
mington papers to have promptly
said there was no such amount avail
able. We answered by quoting from
his RehobOth speech of week or so
previous. Shortly after that, big
heads appeared in the newspapers
lauding the Governor for paying off
several million of State bOnds-they
were sold back to the State, how
ever, it was learned afterwards
merely changed from one pocket to /
the Other-borrOwed from Peter to !
pay Paul.
All the appropriations made by the |
last Legislature amounting to seven
or eight million dollars and payable |
before the end of the fiscal year end
ing June 80, 1882, have probably
been expended, while revenue re-
ceipts have been falling off daily, yet
we are today told there is over $13,-
100000 in the treasury. We don't
believe there is any such amount of
cash in the bank There may be cash
and our own bonds in the treasury
to that amount, but we make the
statement without fear of truthful
that there is not en-
Ough cash in the treasury at the
present time to take care of our
bonded debt sinking fund Obliga-
lions, plus that which has been allO-
Gated to schools, plus the apprOpria-
lions authorized by the last Legisla-
ture, for our State operation and
program for the fiscal
year ending, June 80, 1888, which
amounts have been authorized but
not paid.
Where we are going to be June
30, 1888, is what the people are in
.erested in. We may have any
amount of cash now but if that cash
S promised and its expenditure an
icipated, all we will have then with
which to carry on our enormous Op-
,ration cost, will be what we collect
n the meantime, and those cOllec-
ions promise to be less than half of
what they have been in previous
rears. When ones accounts payable
md obligations which of necessity
must be paid, exceed ones actual
ash on hand and anticipated income,
he fact that we have few of our
,wn cancelled notes in our safe de-
Dosit box doesn't and shouldn't keep
is from worrying about what is go
ng to happen to us financially in the
lear future. Why can't the newspa-
,ers be frank with the taxpayers
instead of trying to lull them to
leep as to their financial security,
merely to ballyhOo this or that Of
cial whom they hope to perpetuate
n office?