Year: 1879

CRACY.-We published yesterday brief
synopsis of some of the facts which will
be embraced in the annual report of the
Sta Treasurer in regard to the finances
of the State. Many Of the facts and
figures We gave may be OBJ aimed from
the volume of Digested laws. The
statements show the entire Indebtedness
of the State in January, 1915, to be ST.
172 S35 80. Since that time payments
have been mado which reduced the
bonded debt to $953,0OO. This shows
yearly reduction in four years of $54.-
9jS 81. This reduction has been effected
in the midst of the severest times our
State has known, and when a terrible
drain has been made upon our people to
pay enormous taxes to the United States
government, which is now promised to
b, reduced by an incoming Federal Dem
ocratic policy. The reduction of the in
terest account also, will be considerable
and should the Legislature follow the
policy indicated in the GAZETTE, and
which the previous Legis' ature wished to
inaugur ate, and substitute a bond of a
lower rate of interest for the present SIX
per cent. bonds, which we believe is
in reason and should be done, it will be
seen that the State debt may be very
rapidly reduced during the next four
years. We, therefore, confidently look
for this, and knowing the incoming
Executive and his fine business qualities;
his anxiety to make his administration
one of the most prudent and economical
character, We feel no hesitancy in pre-
dieting greater reduction in our indebt-
edness in the next four years. This fact
will 20 far toward making a small three
or four per cent. bond of the State pass
rapidly in the exchange of business, and
almost as convenient as bank notes.
And if they were made payable at stipu-
lated periods, say to the amount of 500
600 or $40, 900 each year, they would be
bought up and held as rapidly as the de-
mand notes of the government were.-
Or they might be taken up and Cancelled
iii small amounts by the State Treasurer
as presented to the extent of The treasur-
er's receipts, thus saving interest ins cad
of leaving the money of the State idle
in the vaults of the banks. These mat
ters, however, will present themselves to
the mind Of every intelligent reader; be-
cause they interest every citizen who
feels deep interest in The honor and
prosperity of the State. Bat there is
ano her matter to which we wish to call
the attention of our friends, and es-
pecislly those who have come among US
within the last seventeen or twenty years.
They no doubt feel deep interest in our
local government, and hope to see it kept
in safe hands. 1t will be rem mber, d
that when Senator Salisbury spoke in
the Opera House in November Last, he
declared that the Democracy had con.
Quoted every part of the Sla ate govern.
nent for the last sixteen or seventeen
years, and in all that time there ha,
not been single defaulting officer, ant
that every dollar of the public money
of the State had been honestly ap
piled as Indicated by the laws; ant
this remark has never been denie,
and remains to-day unchallenged. Is no
this something of which we may fee
proud; does not every Democrat ant
every citizen of Delaware feel pride il
this condition of affairs ? Certainly h,
does. He could not be a good citizen
wishing for the good of the State, an,
not feel animated by its honest record il
such times as have passed when it SCENE,
almost the fashion to depart from tru
rectitude and old-fashioned honesty. Gu
Democratic State officers, from the Gov
ernor down TO the lowest, during all thi
time, are surely entitled to claim our re
spect and admiration for this. 1t was bu
their duty, it is true. But 1t is just here


A| wa" NoSS hiS uuty uoIioIS Ills ever


friend. And the people do feel this in
debtedness they do honor the men, an
the memory of the men who have thu
sustained so fully and fairly the fai
name of our noble little commonwealth


But there is still another point we wis
to call to the minds of the best class
citizer s-those who take a deep intere


in the education of the children VII


see in the eradication of ignorance


sure aba ement of vice and progre!
toward more exalted civilization. W


allude to the "School Fund of Del


ware. The money handed over TO OF


commonwealth by the economical a,


ministrations of those sterling old Dem


Gratis that managed the government aft


the war Of 1S12-15, amid the gre


achievements Of which the immortal he


of New Orleans rose to power and inf


ence. Under the administration of Gen


raj Andrew Jackson fund was accum


lated in the government treasury


about forty millions of dollars. Til


money was not foolishly squandered


the building Of costly post-ofiices or su


sidipc IN railroado or sfao mhoat onr,,ar