Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1844-01-11
SI,oSo,83a So

So that il appears more money has actually been
paid @ ii by the Commonwealth, for educating her
people. than the amount of State tax paid into the
Treasury.
i, will be entirely practicable to make provi-
sion FOR the payment OF the semi annual interest,
on and after the first of August next. And. to
provide for every possible contingency, the State
Treasurer might be authorized to borrow, if ne
ccssary, sufficient sum 10 make up any dehcien-
cy. and the and other receipts OF the State.
applicable TO the discharge of interest, be pledged
specifically for the re payment OF such loan, and
applied as soon as received.
The arrears of interest due in 1912, and Feb
ruary and August, ISl3. have been funded. in
conformity with the acts Of Assembly upon that
subject THIS was The most tnat could be done
for our creditors. under the circumstances, and
If, hereafter, provision be made for the punctuaI
discharge OF the interest. it viii, believe. be as
much as could reasonably be expected by the hol-
ders of our loans.
There is now due from the State 10 certain
banks the sum of 81, 628 63, on account of the
issue OF notes under the act of 1tth May, 1911,
which bears an interest of Cne per cent BY viz
tue OF the act Of Assembly, passed the Sth day Of
April last. entitled An act to provide for the pay
ment OF Domestic Creditors" &c. these notes are
10 be cancelled AZ the rate of one hundred thous-
and do.lars per month. The funded dobt Of the
State bears an interest OF five and SIX per cent.
payable semi-annualy If this cancellation be
continued at the same rate, it is very certain this
interest cannot be paid. as very large proportion
of taxes and tolls will be paid in funds Of this de-
scrip;lor. 1t is, therefore, for the Legislature to
determine which Of these measures II is the policy
OF the State to pursue.
The revenues derived from the public works
during the past fiscal year, although not realizing
the estimates which were formed al the commence
men: of The year, have yielded veIv handsome
profit to the Commonwealth over the expenditures
required for their maintenance. The report ofthe
Canal Commissioners. which will be laid before
YOU, aHl 10 winch your particular attention is in
vited exhibits in detail the receipts and eXpendi
lures upon the several lines of canal and railroad
BY that document. it appears, that, from the early
closing OF the canal by ice in the latter part OF
1912, and its late opening from the same cause in
the following spring, the nayigable season o! 1913
was rendered about eight weeks shorter than that
OF the previous year. i combination, likewise
took place among the boatUen on the Delaware
Division. winch existed ior Sereral weeks, putting
a stop to transportation. and causing loss Of rev.
enue To the Commonwealth Of not less thln $30.-
O00 Notwithstanding these lmpediinents, added
10 that experienced from the high foods Oh the
.unia,a in September last the tolls amoun; 10 81,
0i-.Sli II. being IN increase over the receipts of
1912 OF S71627 ;. An abstract of the receipts
and expenditures on the several lines exhibits the
following result