Year: 1876

tFCCtS


HARRISBURG, Penn, Jan. 4.-Gov.
Hartranft's annual message was submitted
to the Legislature to-day The finances of
the State, the debts of cities and the bur
dens of municipal government, and the
| riots during the Spring in the mining dis
| tricts are most interesting topics which he
| discusses. Extracts are given below:
THE STATE FINANCES.


The appropriations made for the fiscal
year ending Nov. 30, 1875, exceeded the
receipts of the general revenue fund S515,-
S2l 22, and with like appropriations and
| receipts the deficit for this year would be
doubled. 1t is estimated however, that
the revenue of this year will be s5OO,OOO
less than that of last year, which would
make the deficiency at the end of the current
fiscal year about 81 100000, unless the ap-
preparations can be reduced The appro-
prlations are already made for that part of
the fiscal year embraced between Dec. l :,
1873, and June l, 1876. Moreover, the
principal appropriations, such as for schools
and the ordinary expenses OF the Govern
ment, are fixed by the Constitution or by
law, except those for public charities, and
these will demand unusually large amounts
at this session by reason Of their failure TO
receive anything at the last. 1t is mani
fest, therefore, that the appropriations can
not be materially reduced, and the def
cheney must be provided for either by the
imposition of new taxes or the division into
the general fund Of some of the revenues
now flowing into the sinking sund To levy
new taxes ut a time when the business and
industrial interests are Frustrated would be
unwise and great hardship, and would
justly meet public condemnation. The ne
cessity, therefore, of the redistribution of
the revenues is obviously duty that is
urgent and demands your immediate atten-
ton. BY virtue Of constitutional amend
ment, the Sinking Fund was created for
the purpose Of gradually reducing the pub
lie debt at 4 time when it exceeded $40, ,000,-
600. An annual reduction of S250,000
and the payment Of interest of the entire
debt were It's only requirements, and they
have been faithfully fulfilled By the Sink
ing Fund Commissioners since the creation
OF the fund in 1857.


With the present distribution Of the re-





Sinking Fund after the payments which
the Constitution requires over 81 ,25O, 900,
and when it is remembered that the amount
Of interest TO be paid will annually decrease
and the receipts be greater, owing to the
natural accretion Of the taxes, the amount
Of this balance will be augmented from year
to year If this surplu. is annually applied
to the extinguishmcnt of the debt, a care
full calculation will show that in ten years
the entire indebtedness of the State will be
redeemed However desirable this reduc-
ton may be and gratifying as it certainly
would be to the Executive, under whose
administration large portion of 1t would
be made, yet the diminution of the taxes
Of lS73 to the amount Of 81 900 900, and
the $1,000 additional expenses made neces-
sarv by the new Constitution in behalf of
common schools, the Judiciary and LegIs-
laturc, and the claims Of deserving public
charities forbid this large reduction as the
revenues are now distributed. By another
calculation it appears that by taking one
third Of the corporation tax which the Le-
gislaturc assigned to the Sinking Fund and
dedicating this one-third to the uses OF the
general fund, the whole indebtedness can
still be liquidated in Is years. Without
additional taxation fund may thus be
created that, with the other revenues OF
the general fund, will, with prudent man
agement, possibly be sufficient to meet all
the necessary and proper expenses of the
Government. and ] recommend that this
change be made.


At the end of the last fiscal year there
remained in the Sinking Fund the sum of
S934,02 SO. There can be no further re-
demption of public debt until August, 1877,
as all State loans reimbursable prior to that
time have been paid and in the mean time
the Sinking Fund, in addition to the above
amount will cotinue to accumulate large
balance, which there is no authority to IN
vest. | therefore recommend the enact
ment of law authorizing the Sinking Fund
Commissioners to invest the surplus funds
in the bonds of the State or the United
States, as they deemed most advantageous,
which. ia accordance with the provisions OF
the new Constitution, are the only invest
ments that can be be made, and these IN
yestments be directed to be made monthly.


MUNICIPAL GOVERNMENT.


There is no political problem that, at the
present time, occasions so much Just alarm,
and is obtaining more serious and anxious
thought, than the government OF cities;
whose administration in many sections OF
the country is fraught with perils, not only
to the material prosperity of our people but
to the welfare and permanence OF the he
public. 1t is not, therefore, incumbent up
on o those who are charged with the conduct
of public affairs, as well as those who are con-
cerned for the good and honor OF the coun-
try, to carefully and diligently inquire into the
causes of these mischiefs that attend upon
the rule of our cities, and see if they spring
from or are the actual development OF any
inherent in the existing systems OF govern
ment. or are the outcome OF a merely