Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1848-01-08
December, 1877, over the same item, on tn. let

tut5 SuiSuiot'oU tuoWes tHSt VIZ TcVeuups uS' 1
sessed and sccruing, within tbe iins noial year
ending on the Both Nov. lart, were not only ..
dequate TO NEE, the demands upon the Treasury.
within tho year, bu; exceeded them BY the sum
OF S:}O2, ,l04 81, a. ubove stated, and II to tins
tuW added the amoun' ot the debt paid within
the year, to wit, $l6N ST AZ, we bsve the sum
Of $463,0; on, us the excess of the revenues
sccruing within the year. over the payment Of
the interest on the public debt, the expenses Of
the government and the other ordinary demands
upon the Treasrry. ,t ~ tog
This presents very encouraging view ofth
improving condition o, the ins noes ot the State.
Il ia the first time since the mencement OF
the internal Improvement system, thot the per.
manent revenues acCtuing with the year, un.
aided from any other source have exceeded or
been equal 10 the demands upon the Treasury.
Il is true, the interest upun the funded debt, and !
other claims upon the Treasury, during the two !
preceding years, including the payment Of a
portion OF the public debt by The cancellation Of
relief notes, were punciually paid but, in do
ing this the balance which had accumulated in !
the Treasury, on the l,t Dec. 1874. by the |
previous suspension Of the ooyment Of the inter.
eet on the public debt for two and one hsf
years, as we'll ss the amount of taxes then out |
standing, were dcminished each year. until the
last, as is particularly explained in my annual
messages, in 1915 and 1916, to which you are
respectfully referred. ',. .nr.
An estimate Of the receipts and expenditures.
Of the current year, made with much care and
upon consultation with the other officers Of the
government, 10 hereto appended by which il ap.
pears, that the estimated amount Of receipts into
the treasury, from ell sources, for the financial
year, ending on the 3Oth November. is4s is
'H1 s392l 900 90
And that the estimated amount Of
expenditures for the same peri.
cd. including the cancellation Of
5000, 900 relief notes, 10 3s76, 800 90
Which exhibits an estimated excess ..
Of receipts over expenditures OF S343 $40 90
To which add the estimate for the
cancellation of relief notes which ..
are part Of tho public debt, 200 900 90
| And we have the sum Of 4a5,5iO 90
as the estimated excess Of receipts, Of the cur.
| rent financial year ending on the 30th Novem-
Der next, over the payment OF the interest on the
! public debt, and the current demands upon the
| Treasury. -.....
These estimates, when taken 10 the sggre-
gate, consider entirely sale and reliable. Du.
! ring the last few years, the sctual results have
been more favorable TO the Treasury, than we're
anticipated by the estimates. Notwithstanding
the extraordinary floods which occurred during
the past year, the consequent damage TO the
public works, and the interruption OF the trsdo
upon them. tnr abrut two moOihs. the tolls to.
ken by the collectors, within the year according
to the report Of the Canai Commissioners. a.
mounted to the cum Of 81 .5Sl ,575 81, being
&e2S6,O6l II, more than wac tsken IN the pre-.
ceding year, and exceeded the estimate made
for the last yenr. near ono hundred thouesnd
dollars. Had no Unusual interruption Of bus .
ness occurred, the smeunt tsken would certain.
ly have reached eighteen hundred thovsa nd
dollara al .t.
The estima,e Of canal and railroad tolls. for
the current year, is seventeen hundred thou.
sand dollsre which. there 10 good reason to be-.
lieve, 10 rather below than above the amount
which will be received. The expenses Of ~.
pairing the damages 10 the public works. BY
the foods Of the past year, will principally fell
upon the current yesf. They are. however,
included in the estimate Of the expenses Of the
year, and will not effect the results presented
, in tie preceding calculations.
The amount Of relief s-ues in circulation. on
the first Vi D.cemher last, S93i .664, OF which
$1,000 were cancelled al the Treasury, ou the
3lst Of Dec, leaving $ssl, ,GGi sill,u,standing.
The means Of the Treasury, it 10 believed, will
be adequate 10 the cancellation ot the whole
amount now in circulation. within the present
and succeeding year Many o: them are 40 de
faced 90 10 be- almost illeg hIr. aud are unfit oI
circulation besides they vnmie the currency
and furnish On excuse TOR the use of small nn,es
from other states. in violstion Of Inv, and les
asn the circulation Of gold and silver among the
people. Justice to the public creditors, who are
compelled 10 receive them in payment of thciI
interest. when they sre below par. ss we'll as ,t
the people at large. imperntivrly demands ihs
they should be taken out of circulation as soon
ss practicable. l. therefore. recommed iht
passage of law, allowing such Of the Banks al
have issued these notes, to fund them at a rot.
of interest not exceeding six per cent, per an
mum payable semi annually. and that all th'
!. surplus means in the Treasury, beyond the pay
Q ment of the interest on the public debt and tn,
!. current expenses of the government, be sppii"t
J. fret to ths redemption OF cancellation Of ibos,
= that may rems in in circulation. as tkey com,
o into the Treasury, and then to the payment o
the amount funded by the banks.
}. The resources of the Treasury will he cuff
n eient to cancel all that mny be received in pny
. ment Of dues to the Commonwealth and Il
b pay the hanks the amount funded within tw,
e years. BY THE process, should the hanks aprr,
Il to fund any considerable portion Of them, the,
i may ell be taken out Of circnlaiIon within tn,
j. present year. II may be urged. that ss thes
q notes do not now beer interest. they ought M
81 10 be converted into debt on which interce
% will be payable. THE. however. ia but Q gu
perfcal view of the subject. There is no hon
ger any excuse for q continued violation Of "
10 public faith, by the paymen, OF the public cred
itors, in q depVeciated currency. and the sma
amount Of interest which will have 10 be pa i'd
il the banks agree to fund u portion Of thes
notes, will be- more than pensated by relicy
" ing the character Of the State from the cnntnu
alton Of this set OF injustice. aud the people frer