The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-12-15
msnt Besides there there are the expenses OF

ment Besides there there the current OF
the state which viii absorb ell TIE in the treasury
and the sum to be advanced by the bank. II these
accounts are correct, the Ere government Is upon
the eve of bankruptcy Such . result will ult
mately be realized, and 1t might we'll come first as
last. Without an immense red icton in the expen
dituree, so that moderate rate Of taxation will
be sufficient to meet the current expenses, there will
be no permanency in the republic. The people
not and what is equally certain they will not submit
to the enforcement Of such enormous taxes.
The weekly returns Of the Bank Of Franse show
much commercial distress in the French capita The
totes of the bank according to the last reports had
diminished 1855 O0Of the msrcia discounts
So7s,ooof the protested and overdue bills had in
creased 945 OOOf
We learn that the Erie Railroad Company will pay
the interest the LIST Of January all the issues
stock-that issued to contractors, we'll as the
three millions subscribed. The aggregate is about five
millions Of dollars but the two millions issued to
contractors do not draw the full six months interest
not having been issued long, the to be paid
the LIST proximo will be something less than one
hundred and fifty thousand dollars The Company
have provided for the bonds maturing 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 balance amounting to between one and two
hundred thousand dollars. Offers have recently been
made In Wall street to sell the next July Interest
on the new stock for two and q half per cent ThI,
shows want Of confidence in the ability of thu
company to make that payment out of tbs 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 and
Seven per cent per annum on about ten millions Of
dollars 1t looks very much as though this important
work would be crushed with its own iumsnse weight
Its liabilities have already reached an enormous
amount and they increasing rapidly th at there
Is great danger of sudden collapse and mother break
down in the management 1t is strange that our rail.
road managers never learn anything by expere noe or
by the folly and extravaganza Of those who have pre-
ced.d them.
We stated, few days since that the decision lately
made relative to 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
new constitution is the Court of Appeals and as that
decision WAS made by the judges OF the Supreme Court
there Is another chanc for the stockholders in the
case at issue. The opinion of Of the ,st dis
tipgushed lawyers in the State is tina. the Sup
Court decision will be reversed, and the claims Of the
stockholders upon the assets Of the company much
str6n gthened.
The message Of the Governor of Indiana gives very
detailed statement of the finances of the State
pears that the amount of paid into the State
treasury during the last year. Including portion Of
the previous arrearages is s4l274s a. being $50 4Ol 81
more than paid in during the previous year. The
ordinary expenses Of the State government for
the past year $40 1913 3d. showing an excess Of
revenue expenses Of $333,474 76.
The assesaman 1Sl8 State nurnosea HIS8..
627 A. and for county. township, road, and school
purposes collectively $3.50 362 S. Add to these some
collected denquencies of former years Sl35795 Is
and the total amount OF the duplicates for lS48 is |
81 2lO7s5 o.
The rate Of delinquency in the collection of the
taxes assessed for 1s47 Is but $14 tbs $780, while
that on the assessment of 1sie was SIT the $780,
The sems nnusl interest the State debt was paid
on the 1st Of July last, the deficiency 10 the treasury
having been made up By loan from the sinking fund
and the branches Of the State Bank 1t designed to
make up any deficiency that may exist in January and
July of next year In the same way.
According to the estimate Of the litor after meet.
ing all the ordinary expenditures during the
fiscal year, and after redeeming the estimated mount
Of SC0 900 Of treasury notes. principal and interest
there will be left applicable to the payment OF the in-
terest the public debt S206 O00 from which deduct
the loan for the interest Of July 1913 $4,000 also the
probable needed to pay the interest nd exchanges
Tor January, 1S49, $95 o0o and the amount for
July, 1919, $4,000, equal to $23Oo0o. Thi, would
leave deficit next July OF only $4,000 This small
balance It is safe to presume, would be overcome by
the increased receipts into the treasury by the LIST
January following. But the revenue is not actually
payable until the latter part Of the winter 1t is calou
lated that such would BE- the result By the lt Of July
1850.
The number Of polls returned for 1s4s is 1856 2s5.-
This 10 increase the number of lS47 of 1874
while the increase Of 1S47 1916 only 2,762
The value Of the entire property to taxation
as returned for 1s48 is $12s $50 1885, being increase
over last year of 81 $50 545 while the increase Of last
year over 1s46 was only S1,90s,6o6.
The receipts of the Housatono Railroad Company
for the month Of November, 1s4S, were Sls,lSo 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 closing Of
the river It's receipts will show great increase.