The New York herald., 1848-12-20

since 1885; and the movement is likely to continue,
until 1t nearly reaches the esme extent. The most
sxtravsgsnt antcipatons have been formed relative
to the supply Of bullion from Caifor mia and II one
half is realized may look for temporary indaton
In prices for every species Of property which specu
tion be carried on, to enormo rs extent. The
addition Of large amount to present supply Of
gold would create expansion in paper
currency the effect Of which be very easily i'm
agined. The expansion in this State would not per.
bsps be large In Others account Of our pscu-
liar system Of banking; but our safety fund banks
would doubt 60 to the full extent Of the law regu
latiug their circulation, and free banks far
their securities would permit The receipt Of twenty
millions of gold would increase paper circulation
full one hundred millions Of dollars This inhation
ofpublic credit would create Of course correspond
ing imitation in private credit activity in all the de-
partmsnts Of industry, and, natural consequ
an advance in prices for property Of all kinds.
The Committee Finance in the Legislature o.
Virginia has made Q report the revenue nd ex
pendtures Of the State The aggregate amounts to
3 Of which the State agent holds the amount
Of S76 or making the actual debt outsta nding
$8.9e389l 80. The whole amount of funds held by
the State s $11 517 $40 28 of which amount nteres
and dividends only received So so7 ,633 60 The
State liable for guaranteed bonds for different works
to the amount Of So ,7S9 49, The earliest period
for redemption for any portion Of the debt January
1st 1885, when $245 900 of per cents will be due
The committee do not point out any in which this
amount can be raised.
The condition Of the revenue of Virginia Is highly
satisfactory. The balance in the treasury the LIST
of October last, $1c4 1856 5S, which, with the est
mated for the present fiscal year, will leave
large balance hand on the LIST of October, 1849
FINANCES OF VTnGINIA-REcEIrTs AND ExrENDI-
Balance In the treasury tho 1st October
Estimated receipt. for the fiscal year which
viii terminate on the lst October $780, S56 937 91
Total resources ces.......$9 .$951l23 40
Estimated for the period. 1926 1919 81
Probable balance in the treasury, 1st octo-
Der 1872. .........." .plo4SZS %
On the first of January three months after the close
Of the next fiscal year, two hundred and ferty-ave
thousand dollars Of the debt will fall due, requiring
loan Of hundred and siseen thousand dollars from
some source, to meet the payment required.
The General Assembly at Its session of 1916 autho
rsed liabilities to the amount Of So 800; Of which,
up to the first day Of October last, $S49,453 SO
paid OF the remainder 1t is highly probable tina.
about $2s1 900 will not be required $744 900 of the
loan to the James river company is provided for eav
Ing Al ofthoee appropriations for which pro-
vision must be made at early day. At the last
zion various acts passed authorising liabilities to
the amount of 81 $780, OF this about $4,000 hs,
been paid, and upwards of $500 600 will certainly
be required OF the residue, amounting to about
$1,000 oOO it is highly probable nothing will be called
for except the sppro prstions to the Shenandoah
company, and the Alexandria and Orange Railroad
Company, two improvements Of great Importance to
the country through which they pass to Of the
principal of the State So that the almost certain
demands upon the treasury under the various laws Of
the last two sessions, will amount to not less than
$4,000 O0O exclusive of the loan the river and
Kanawhs company of which large about ST. 900
will be required in the years ls49 and 1850.
The finances Of North Carolina not repre-
rented by tho Governor being in very prosperou
condition The State debt amounts to $3.50 50O Of
which 100000 payable after $780, and $3.50 500
pay able by after ls45 these nts
have been assumed by the State in aid Of the Raleigh
and CASTOR Railroad Company. To meet the interest
Of these debts the requires per
and $25 coo sinking fund, making aggregate o.
SO 900; the current expenses Of the governme
amount to $40 0Oc; that income Of $40 900 is
required to enable the treasury to meet its payments
The preeent income of the State is 500 000 This it
estimated, might be raised to 500 600 by levyug
and tax and poll tax, and with this there will bs
q d0nc1eDcy Oh S4u,OUU 10 DC maue UP from otner
sources. The Governor recommends issue of State
bonds having ten years to rum to meet the interest
the $4,000 debt and the nstaments aud interest Of
the other making proper provisions for redemption Of
issue Of bonds at the end Of the ten years by
establishing q sinking fund of about $25,000 per
apnum.
The eonnexion Of the finances Of the State with
thoee Of the Raleigh and CASTOR Railroad Company
has involved the State in heavy responsibilities The
disbursements Of the road exceeded its receipts ist
year about $25 900, and the Governor recomm mends
the Legislature to adopt such measures as the s1-
gencies OF the require. He suggests that Of
the following methods be adopted list. resale to
the former stockholders by compromise Of the suits
now pending, If suitable terms be offered. I'd To
tain 1t permanent property of the State, after
pairing It in the best 81 To unite it with
the Raleigh and Charlotte road connecting with tha.
from Charlotte to Columbia, s. c md thus complet-
ing the great chain of southern r6ads.