Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1842-12-10


Der last . 90
Leaving in the Treasury on that day, S2O,i74 rs
From the foregoing statement, will appear that the
wants OF the commonwealth made necessary borrow
ON the state banks the of $4,000 before the first
Of October last After that day found indispensable
u obtain the additional OF 100000, making the
whole S36O,OOO all o; which payable the 18th instant
except $4,000 advanced BY the Literary fund the nav
of which may be deferred
The estimates of the income and expenditure for the
year. which were submitted to the last Legislature, being
in their all uncertain and especially SO al
the period when made have been fully realized The
&C ual receipts did equal the anticipated a
suit which chiefly occasoned By reduction in the d.
vdends arising from bank stocks and the expenditures
greatly exceeded the amount which deemed necessary
at the of the Legislative session for the
pubic service The requson of the Board OF public works
IN consequence OF the falling off in bank dividends exceed
ed the first estimated BY the second auditor and
the general semby made &c additional appropriations
which were charged upon the accrling
Inc paper 5ered D, which accompanies This report
Is an estimate of the probable receipts and expenditures
tie current fiscal year, which will terminate 30th Sep
iemoer ls43 The Repayment of the bank loans the
loh ist Will absorb very large portion OF the
expected 20 be accounted for that time am sas
ed that the whole deficiency of the year, which put down
III round numbers 1867 900 will be found not 10 have
been exaggerated This estimate, moreover, does
brace whatever sum may be required for the public
vice, between the ls October and the 18th December
when the revenue of 1913 will be payable.
The product of the additional imposed by the last
legislature upon several subjects has been proved TO
be far less in amount than what generally expeced the
whole sum IN gross, according the commissioner
turns not exceeding S26,0O0 and q small fraction See
statement No. 81 IL will be found also on inspecting the
do ument just referred which exhibits detail the
suits of the taxation of last winter that been in
the past year considerable dimnution in the license
tax item thereof having decreased with the single
exception of the the vendors of lottery tickets
hist the usual product OF the lands slaves, horses
and carriages has been steadily maintained, the
not be affirmed of that class of which depends
upon mercantile and other business pursuits results
% of IN II he
comes my duty In obedience express provisions the
law TO suggest the necessary for relieving
barrassed treasury, and of placing firm the credit
OF the commonwealth In performing this duty fatier
myself that am much the originator any new OF
doubtful suggestion, the organ of n public
e whch holds the preservation of State honour and f.
deity TO all it, engagements Of inesnlable value and
importance. In the first place. will be necessary to pro-
VIDE for the immediate of the treasury and for that
purpose recommend that loan be negotiated redeema
BILE III one, two and three years. sufficient inter-
est 10 being effected without difficulty In the
second place, recommend that additional be imposed
OF sufficient redeem punctuay the loan so effect
ed, al the periods respectively when shall become due
consider that the adoption of this last named To-
wit an increase of taxes is the present condition OF
things, OF material importance give effect renewed
effort TO negotiate loan. 4 pledge from the State 10 pro-
VIDE sure and certain TO meet it, engagements will
immediately inspire general confidence, and enhance the
value OF all State securities, which at present
depressed than any previous time. Ii will dismiss
from the pnbc mind all apprehension, if any should
ls that our commonwealth could be induced by
derailon Whatever, either dsown neglect provide
for heTjust obligations.
1t has been and may again be urged that rather than re-
sort To additional taxation a when even light mpc
sitions would be burdcnsome it would be more advisable
to dispose Of of the stocks held by the State in the va
nous banks; and if believed that such step could tn
ken without rnous loss, altogether dispropor0ned To
any benefit TO be derived from IT, should entirely concur
IN Its expediency. Bank stocks have already fallen far
below the point which the decline the dividends would
reasonably justify in of prosperity and is not
dhculi TO conjecture how much lower they would still fall
large quantity should be suddenly thrown into market.
As might be desirable however, for the commonwealth
to dispose OF portion Of its extensive the
banks, whenever it may be done without injury respect
fully suggest that authority be given negotiate with the
Exchange Bank and the Northwestern Bank of Va for The
surrender Of the state bonds hedby those institutions OK
change for much Of their stock owned by state as
would amountto fair equivalent. These banks hold in
commonwealth bonds about S266 900; and if the ar
rangement could be made, the debt would be
tinguished 10 that amount.
The revenue laws, as now in force, require that the
licenses payable in May should be PROMPTLY ac
counted for the treasury June by the collectors in GER
tain enumerated towns only suggest the expediency of
enlargiag the operation OF the law, apply tue
whole commonwealth. perceive reason why the
hue derived from this should in the hands Of
collectors until the month OF December when in the mean
time, may be needed for public purposes. There would
be no necessity for the collectors attend person the
seat OF government in order make paynen-or even in
csses where private opportunity should occur
scarcely any part Of the where facilities Of transmission
do not exist through the branch banks II would be even
expediont economical arrangement 20 long as the
state Is borrower, 70 allow the collectors additional com.
pensation for prompt payment.
II seems also that a small compensation in addition
10 what tie law gives, might with propney be allowed
such collectors should make settlements in advance Of
the ioral An additional half per cent upon all
paid before the LIST 18th October would itself be
trivial charge the public, and might frequently yield
seasOnable relief.
In the commissioner fail deliver the land and pro-
perry books 20 the collectors the period precisely desg-
mated by ow-an additional time IL allowed the collectors.
= settle their accounts corresponding with the delay de
verng the bJOk3-and the collector may, moreover re-
n I.a
each day that the books withheld. As the common
wealth likely - be aggrievod than the collector by
the commissioners negligence would be expeden
mend the law make IL the duty Of the auditor de-
duct the forfeiture from the commissioners pay The date
Of the shers receipt for the books will furnish the
sary Information az this Office
renew the rocomme ldaon which made 20 the last
Legislature, that the Of Shes aud guards for
Transporting unatcs 20 the hospins should be settled
by the courts Of directors those institutions, and not NJ
this Office; the latter mode being attended by much iscon.
vcnience in practice, and having the effect moreover OF in
directly increasing the annual appropriations for the support
OF the hospitals. The suggested change could not be- re-
asOnably objected 10, especially II accompanied by pro.
vision that the directors be- left unammoed in the pur
chase Of clohingor the unacs, which now, for the
part urnahed from the penitcniary and the deducted
from the annual appropriations the hospital. In
similar institution the clothing advantlgeonsy manufac.
tured or made up by the inmates themselves.
In connection with this subject suggest whether
better mode could be devised for maintaining unatcs