Jasper Republican, Volume 1, Number 4, Rensselaer, Jasper County, 9 October 1874 — A Specimen Brick From New York. [ARTICLE]

A Specimen Brick From New York.

A good illustration of the difference between Republican and Democratic rule is furnished by New York. When Gov. Hoffman turned the government of that State over to Gov. Dix there was a deficiency of over $6,500,000 in the State sinking fund, and now, after two years of Republican administration, this deficiency is made good and $15,000,000 are placed in the funds, being the full amount required by law up to the present time. The deficiency was not a defalcation, but an unlawful expenditure. The amount now to the credit of that reserve is there in compliance with statutory provision. In 1868, when Hoffman came into power, the fund was intact. Gov. Dix explained the deficiency which occurred during the Hoffman administration as follows, in his first message:

During the last few years the sums voted by the Legislature for various objects were greatly in excess of the current revenues. By this improv! dent legislation deficiencies to the amount of more than $6,000,000 accrued, and were left to be provided for by succeeding Legislatures. I believe it to be a just and salutary rule that no appropriation of money should be made without providing simultaneously the means of payment. No better safeguard could be found against extravagant and Inconsiderate legislation; for it is hardly to be supposed that a legislative body would have the recklessness to run a State in debt by wasteful expenditure, and incur the additional odium of laying taxes upon the people to defray them. The money thus voted for appropriations in excess of the taxes was supplied by taking it from the sinking fund. The accumulation of the reserves required by law was a gradual work. It has at last been accomplished. The people of the Empire State will hardly consent to turn the Governor who has acchieved this result out of office, and restore to power the party which is responsible for the unlawful extravagance which depleted the sinking fund. — Chicago Journal.