Year: 1879

colleague and personal friend


only for add that by the Of the act
creating the Board its legal existence with the close Of
the present day. Respectfully,


w. r. MILLER,


f. w. COMPTON,


U. NJ. Rose.


BONDED DEBT.


The entire question of the bonded debt Of the State is with
the Legislature have taken OCCASION in the past to express
in full opinions upon the subject and have nothing
to say.


Since the last session of the General Assembly, large por-
ton of the bonded debt has been declared by the Supreme
Court of the State, to be void in law. dealing with
this subject that such may be pursued by the Leg
lature will preserve honor and credit State.
STATE SCRIP.


The Auditor and Treasurer with the Board Of Finance
deprecatng the policy of attempting the Of
the Government, by issue Of scrip.


The results of that policy in former times have been sut
GENTLY disastrous to against the renewal Of the expert
ment grated to be able you that owing
error, antedatng the administration Of predecessor
and but recently discovered by research in the books Of the
Treasurer office, the volume of State scrip has been
oversated to the of $631 that but $477
Al of this species of Indebtedness outstanding
So far relates the meeting Of expenses the entire
financial embarrassment of the Government may be said to have
from the issue, and presence in the market Of this
scrip receivable for all Dues except that for interest the
public debt We find ourselves within reaching distance
of relief from this element of public distress resoute
method of dealing with the subject by adequate taxon vii
speedily rid of and the opportunity should not be neg
lected


We have for several years persseny avoided, far
possible the of these notesfor alone they
notes which do not honestly pay the States creditors,
which back only and trve the treasury No State
more than individual support itself upon the





debt by pungng into debt aresh To the s
system, would be reopen the of all nanca
msforunes The Of taxes in scrip subserye ths
interests of the broker overwhelmingly enough doubt
In the way of his busness-cashes at discounts
the warrants issued by the State to its creditors in lieu
currency returns them to the State at par and pockets the
difference 1t subserves other interest The taxpayer
ceyes permanent advantage BY being enabled pay hi
taxes scrip. In effect he citizen, merely buys up hi
paper at discount, and continues, citizen to
the difference, which at last be paid During the past
two administrations when have been compelled ncu
debts have made them short ones have paid other OBJ
repaid the loans promptly The beginning scrip payments
is like the letting out of water


AMENDMENTS TO THE REVENUE LAWS.


fully with the Auditor suggestions respecting the
necessity of amendments the law the subject Of
which in respects is defective That portion Of rela
ing to the of merchants be understood
two officers construe alike and confusion is the result
is also uncertain to the least the law stands
whether between the first day Of August and that Of January
in each alternate twelve months there any officer author
lied to act County Collectors The Shers required
by the statute give bond Collector before the
day of January in each year Many Of these officers fail to
enter into bond within that time Their term Of Office
Collector expires the last day Of July the date by which

ought be permitted remain the liability Of the
Collectors urees this interval and mterreenum should
exist in the Office. Controversies, growing Of questions Of
this character have already asen between countless
State the hand and the suretes Of Collectors the
other which possibly result in loss to the public.


The time for assessment, collection of delinquent
lists sale of delinquent lands and settlement by Collectors
be changed advantage This is especially in the
of lands delinquent for A. the law
follows closely upon
that compliance with the Of the Statute becomes,
really, impossible.


Numerous other defects in the law occur and may be
that the appointment of committee specially charged with the
preparation of amended the subject
revenue would prove of advantage The suggestion
spectfully submitted.


PUBLICATION OF AUDITORS VOUCHERS.


The operation of the law passed the Of the
General Assembly, providing for the publication detailed
statement of receipts and expenditures Of public money has
been TO increase the cost Of printing the Auditors
port from $2244s in of the last preceding ISSUE to


1856. IL in the instance of presentepot A. the pubica
ton furnishes security whatever
the customary examination of te Auditors Treasu
rers books by joint committee ofhe houses, is for
consider whether the benef derived from the
expenditure. offsets the increased CT Of printing.
FORFEITED L4NDs.


elsewhere take occasion infinite my dissent from the
expressed by the Auditor On be subject Of Forfeited