The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-12-15
uent Besides there there are the n. expense. Of

ment Besides there there are the OF
the state which will absorb all TIE funds the treasury
and the sum to be advanced by the bank II these
accounts correct, the Ere government Is upon
the eve Of bankruptcy Such . result will uti.
matey be realized and 1t might we'll first q,
last. Without an immense red iction in the expen
dtures, so that more moderate rate Of taxation will
be sufficient to meet the current expenses there will
be no permanency in the republic. The pc ,pls
not and, what is equally certain they will not, submit
to the enforcement Of such enormous taxes.
The weekly returns Of the Bank Of Frame show
much commercial distress in the French capita The
notes of the bank according to the last reports had
diminished 1883 O00f the COR ercisl discounts
So79OOof the protested and overdue bills had in
creased 9i5 oO0f
We learn that the Erie Railroad Company will pay
the interest the LIST Of January all the
stock-thst issued to contractors well as the
three millions subscribed. Tbs aggregate is about five
millions Of dollars but the two millions issued to
contractors do not draw the full six months
not having been issued long, the sum to be paid
on the LIST proximo will be something les, than
hundred and fifty thousand dollars The Company
have provided for the bonds maturing on the 1st OF
January, by issuing new bonds, drawing seven per
cent interest," for Ave hundred thousand dollars and
giving obligations, payable, We presume, out of
the earnings Of the road during the next year, TO-
the balance, amounting to between one and two
hundred thousand dollars. Offers have recently been
made In Wall street to sell the next July iuteress
on the stock for two and half per cent. ThI,
shows want of confidence in the ability Of the
company to make that payment out Of the nat earn
ings of the road; and that of income is all
they have left it may well be questioned whether it
will be large enough to enable them to pay six aud
gava
dollars 1t look. very much though this important
work would be crushed with its own inmsnse weight
Its liabilities have already reached an enormous
amount, and they are increasing rapidly tina there
great danger of sudden collapse and mother break
down in the management II is strange that our rail.
road managers never learn hing by expere nee or
by the folly and extravagance Of those who ave pre-.
ced.d them.
We stated few days since, that the decision lately
made relative to one Of the assignments Of the North
American Trust and Banking Company had been
made In the highest court of the State. This Is q
mistake; the highest court in the State, under the
constitution is the Court Of Appeals and as that
decision WAS made by the judges Of the Supreme Court
there Is another chan for the stockholders in the
case at Issue. The opinion Of of the ,st dis
tnguished lawyers in the State is tina. the Sup
Court decision will be reversed, and the claims of the
The message Of the Governor of Indiana gives o very
detailed statement of the finances Of the State 1t
treasury during the last year iocludipg portion Of
the previous arrearages Is S4l274s ~ being $50 4o 81
more than was paid in during the previous year The
ordinary expenses Of the State government for
the past year $40 1913 9S showing an excess OF
revenue over expenses Of $333,474 70.
The assessment for ls4s is for State purposes S4ss
627 "A, and for county township, road, and school
purposes collectively $3.50 1862 S. Add to these some
uncolected denquencies of former years Sl357s Is
and the total amount OF the duplicates for 1S4S Is
81 2lO,7s5 o.
The rate Of delinquency in the collection of the !
taxes assessed for 1s47 is but S14 rs tbs $780, while
that on the assessment of 1915 SIT the 500.
The semis interest the State debt was paid
the LIST Of July last the deficiency ia the treasury
having been made up By loan from the sinking fund
and the branches of the State Bank 1t ia designed to
make up any deficiency that may exist in January and
July Of next year Ia the way.
According to the estimate of the ltor after est-
ing all the ordinary penditurss during the current
fiscal year. and after redeeming the estimated mount
Of Slc0 900 of treasury notes principal and interest
there will be left applicable to the payment OF the n
terest the public debt 5000 O00 from which deduct
the loan for the interest of July 1913 $4,000 also the
probable needed to pay the interest and
Ior January, 1s49, S95 0O0 and the amount for
July, 1919, $4,000, equal to $3.50 coo. Thi, would
leave deficit next July Of only $4,000. This small,
balance it is safe to presume, would be overcome b
the increased receipts into the treasury BY the LIST Of
January following But the revenue Is not actually
payable until the latter part Of the winter 1t is cacu
lated that such would b. the result by the 1t Of July
1850.
The number Of polls returned for 1S4S is 1876 265.-
This 10 an increase over the number of ls47 of 1874
while the increase OF 1s47 1916 only 2,762
The value of the entire property subject to taxation
as returned for 1s4s is $l2s $50 1885, being increase
over last year of 81 $50 545 while the of last
year over 1s46 was only Sl,s0s,50e.
The receipts of the Housstonc Railroad Company
for the month Of November, 1s4S, were Sle,l30 OIL
against SIT PAT So for the month in 1S47 show
ing increase this ear of 81 ss2 So This road has
very lar. winter business and upon the clos ng Of
the river Its receipts will show great increase.