The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-05-28

that than three hundred thousand dollars of the in
teros must be paid in checks to DO redeemed with the
first moneys received into the Treasury in the order in
which they presented This is much more favora-
BILE statement than have heretofore consdered pos
sible to make and gives to believe that the
credit of Pennsylvania will be redeemed much sooner
than anticipated. Before the February nsalment Of
the interest the State debt paid laws were pass
cd by the Legislature then in session. providing addi-
tona Of These laws not to 60 in
to operation, rather the proceeds from the enforce
ment of these laws not to be realized until af
ter the LIST of Augustbefore which time another SINH
annual dividend became due. At that time ii within
the knowledge of the government that If the treasury
drained pay the interest," then DUE the treasury
would not be in the receipt Of the funds the LIST Of
August to pay the interest then due. The executive
just previous to the passage Of the bill making appropra
tons for the payment of the interest due in February
sent to the Legislature veto message returning the bill
and recommending only part payment of the semian
nua interest then due onesndaquarter per cent of
the two-anda-half in cash. issuing scrip as usual for
the balance The Legislature did not consider this the
best policy, and passed the bill again. appropriang
sufficient to pay the interest the funded debt
only, which the Governor signed, Notwithstanding his
former veto. The bill became law, the interest was
paid in such funds were in hand, pro rata and the
Treasury drained of every dollar The Governor in
his message expressed his fears that If the Treasury was
drained to meethe Feb August interest could
not be paid in full whcn due His fears will without doubt
be realized but anticipated that the receipts into
Treasury Immediately after the LIST Of August will be
large from the provided by the laws Of
last winter that the checks will be paid off, and the
finances of the State much improved and strengthened
in anticipation Of tho next payment
The three mill tax will DO collected between August
ls ls4S, and February it 1896 The tax on corpora.
tons and dividends is required to be paid between the
18th Of November and the 18th Of January We annex
statement estimating the receipts and expenditures of the
commonwealth from August lst lsas to February Ist
1896
RECEIPTS AND ExrENprruRrs-SrArE OF PESrsvLyAr,A
Tax on real and personal property. 81 900 900
Nett receipts from public works. ... 800, 900
Total estimated receipts. ...,..... 81, $40 900
Expenses OF State government, PEN
Checks issued August ist isls. $3.50 $3.50
Interest due February lst ls46. ss5,026
Cancellation Of relief motel, Sept Dec 100000
Interest on relief notes, domestic cre-
dors certificates, &C.. ........ 30O00-$ 653, 400
Estimated balance in the Treasury Feb s 1915 sls s44
This estimate based principally upon tho increased
the three mill tax will produce Any failure in
the operation Of that law in the receipts from that
destroys the calculation made and leaves us again
in dark The Governor In his message to the Leris
aturc the 2oh Of January last estimated that the ba
lance in the Treasury the let Of August applicable to
tho paymentIof the interest due then would be only
eso00 The late Treasurer Of the state estimated that