Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1826-01-25


same time IAo'ioo %
Probable surplus, after meeting the en-
gaeements of the Board within the
Sser $12,156 OF
The state of the Fund as herein exhibited TO
the view of the General Assembly, presents an
Improvement which cannot fail to be satisfacto-
~ to the friends to a system OF Internal I'M
proyement. The Permanent Fund under the
act creating it, does not admit OF an augmen-
tation by any means in the power OF the Board
to adopt. The Disposable Fund has, however,
been increased by the sum fS47, $50, and the
balance in the Treasury on the 3oth November
last. exceeded that reported on the Soth Novem-
Der preceding, by the sum Of S5,sS3 70, Civ
ing an increase Of S53,l6373 The capital at
this time, consisting of Permanent and Dispo-
sable Funds, is S2Oo3,23l 70. The increase
of the capital consists Of stocks acquired by
appropriations to Companies incorporated by
the General Assembly, and, although 1t gives
the assurance that at future dav the fund may
be more generally useful in promoting the OBJ
iect for which it was created, does not afford
the means Of giving aid or assistance to any
ne " works of improvement within the pre-
sent year, as the charges upon the fund are OF
more certain character & can be more correct
" ascertained than the receipts, which from
The sources whence derived must be In great
eeree coniectural, and the latter exceeds the
former by so small an amount, as not to war
rant an engagement on the part OF the Board,
to be complied with, within the period named
During the present year payments IN full on
account of subscriptions to the Fauquier and
Alexandria Turnpike Company, the Manches-
ter s. Petersburg Turnpike Company, and
Roanoke Navigation Company, and in the next,
to the Fairfax Turnpike Company, the Lynch
burg and Salem Turnpike Company, and the
Slate River Turnpike Company, amounting to
Se7. $50: will have been made, and the income
Of the fund being relieved by that amount, the
natrouape of the commonwealth through the
hoard. NAV be extended to other and new works
of Improvement in sections of the state which
have received little or nc benefit from the fund.
This expectation was expressed and INDUCED
in by the Board in their last annual communi-
cation. in which, however, they were disap-
nointed by the burthen thrown upcnthe income
of the fund in being made chargeable with the
payment Of interest on the loan created for the
imnroyement Of the James River. The amount
paid on this account last year was S45,59S ~,
from which may be deducted the surplus tolls
OF l4,SSI ,QOIS. SShtS3 eiio PAe'' -
dollars, received on the loan OF 100000 dolls.
amounting to 24,3s7 dolls, o. cents, which Will
give the actual amount Of interest paid. The
interest payable on these loans this year is So
e7s dolls. so cts. which cannot be expected to
be reduced by surplus tolls, and premium on
the last loan of 100000, (if it shall be added
to the fund.- more than $4,000, which Will
leave chargeable upon the income, and to be
paid on account ofthat improvement prior to
the soth November next The sum OF 846,673
81. This view Of the revenue OF the fund shews
tina, the payments on account OF interest on the
lanes River Company loans is nearly equal to
one half of the annual receipts. An increase OF
tolls under the new tariff, which has recently
GONE into operation, may, however, be caleuia
ted mon, and farther improvement IN the re-
ceipts of the Company, arising from an IN
crease Of products, which may seek a market
by this navigation, may be expected 10 take
mace. II these expectations are realized, ana
ali must concur in the hope that they may De,
the disposable fund will be received in an exact
ratio with the improvement in the Revenue Of
the Company. e
A comparison Of the receipts OF the last year
with those of the preceding year. exhibits an
increase of revenue, and saving OF nearly TWO
third. of the cost Of surveys, &C. OF the preSl-
Gus wear, was effected IN the last: the expense
that will be incurred during the present year
will be uncomfortable, and il is satisfactory 10
the Board to have it in their power to say, that
al the same time their revenue has increased,
osprSh