Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1849-01-11
S3,7l6,6Oll Q
ESTIMATED revenue over expendi-
tures,)

(Estimated revenue over expendi-
tures,) S13j,3CO 4
From the foregoing statementit it would apDr
should the estimates of receipts and expenditn.s
be correct, and they doubtless approximate d.
truth, and should not unforeseen casualty occr
that the revenues will at least equal the exDs
dtures of the year. Admitting, however the cr
rectness OF the estimates, it is apparent the Sa.
is placed in condition no better by the lapse
time, as no material diminution, if any, Of t.
public debt is effected. Indeed, even the T
ment of the annual interest has depended, an
will depend on the anticipation of revenues ws
pery belonging to the next fiscal year. A sys
tenn of providing meunS to meet the liabilities
the State, which pays no part of the debt an
meets the payment of the annual interest
drafts on fund raised for the discharge of ami
er duty, and which collects from the people uI
wards of two millions of dollars yearly, requir
supervision and amendment. A careful revis
OF the revenue laws Of the Commonwealth
creasing the tax on such items as will bear wr4
out injury an addition to their present burtha
with due economy in the appropriations and
penses of government, would not only place d /
treasury on a sound basis, with regard to the al
set apart for that purpose, create sinking ia /
to meet the amount now due and demandabe
the State. A result of this character wouil 4
honorable to the Commonwealth, and gratifIrI
to the citizens. Confidence would be nmei
atey restored to the community public cre
would be permanently established, and the Tras
sury relieved of a portion of the public det
The amount now demandable is two mIi@
three hundred and twenty-six thousand five hus
dred and eighteen dollars and ninety -four cent
When the faith of the state is involved, no tma
should be lost in adopting measures to restore
credit.
To form fund for the liquidation of the res
due ofthe public debt is an object not less imp
tant than the one just suggested. Pennsy Ivan
should no longer bear the burthens which IcT
oppress her citizens, without, at least, a vigOr
and manly effort to relieve herself from her "a
bllItles To the Legislature belongs the duty
devising such means, and enacting such laws
will best promote the interests of the people,
efforts so laudable will at all times receive
appreciation Of, and be aided by such suggestOi
as may present themselves to the Executive.
more favorable opportunity may present Itself
the present session, than will soon again be
fered Many ofthe banks of this State have
en- the requisite notice, that they propose to aH
for renewal of their charters, and would 50
gest, should it coincide with your views, the p
cy of exacting from each of these institutions to
may come before the Legislature, the payne
off certain percentage on its capital, in addlii
to the taxes already assessed on banks by eGs
ing laws. A sum raised in this way might io7
the nucleus of a sinking fund, which, hOwe
small, would regularly increase in importar
and value by the assistance it might receive tn
that and other sources. The charters of all
banks in the Commonwealth will require rene
al; the increased prosperity population and
siness OF the country, may require add@
banking facilities, and during each year So
amount could be added to the fund The in'e
ment of the fund thus created in the purcble
State stocks, (the present revenue laws Of 4
State being preserved, and the interest on soS
purchased, being again invested in the ~
way, would Increase the fund while it dilninG"
the debt, until all would appreciate its impe
tance and consider it with favor Should 7
sources of revenue become of greater value
may be reasonably anticipated, large baan'
over the expenditures of government will aefI'
to the treasury, fixed proportion (which Gov
properly be added to the fund. Thus would
increase in triple proportion, until the enOrnS
debt, with which we are encountered, would
finally extinguished. Whatever may be theEIS'i
of the Legislature in regard to the plan suggs'
ed, it is ardcnty hoped 1t will distinguish its p