Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1849-01-18
State Treasurer's Report.

urer, which was laid before the Senate, on
Monday. Ias.:- =
The balance in The Treasury on
the 30lh day Of November, l647,
was s6so,S9o IS
The receipts a, the Treasury dur
ing the fiscal year ending on the
3Oih November, 1S48, amount 10 3 1881 ,776 %
Total amour, of revenue for
l84S, $4,512,667 OF
The payments from he Treasury
for The same time amounted TO $3935,376 6S
Balance, S577,290 80
Leaving balance in the Treasury on The
30,h November, lS48. Of $577.290 SO. TO
this balance the Treasurer has added The es,i-
mated receipts for The mex, fiscal year, ending
on the goth November, IS49. which amoun, TO
$3.S52 800; and deducrng therefrom the es-
limated expenditures for The same period a.
mounting to $3.52s, 500, we have a balance in
the Treasury on the 30h November. lS49, Of
1901 ,09O 39, or an increase over the present
balance of 1923, 800. From this exhibit"
the Treasurer remarks, ii will be seen that
the revenue TO be derived under existing laws,
if properly applied, will enable the Stale TO
meet all IT'S Liabilities, and promptly pay The in
lerest upon the public debt as il falls due"
The total amount of the abatement Of five
per cent. allowed under The act of April, 1914,
to such counties as should pay into the Tfea,u-
ry within certain period, their quota Of tax, Is
Sal ,522 ii. In reference to this system, The
Treasurer, whilst admitting that i, aids much in
bringing funds into the Treasury, during The
fore part of The year, suggests that perhaps
some means nigh, be devised whereby the
whole amount OF Slate tax from the respec-
i've counties might be brough, into the Treasu-
ry within the year, and al less expense. The
cost of bringing money into he Treasury under
the present system, is eleven per cent, upon
The amour, collected, and he thinks some plan
might be devised by which the amount of taxes
may be apportioned TO the respective counties,
and each required to levy, collect, aud pay into
the Treasury its appropriate amour. seml.annu-
ally to meet the interest upon the public debt.
The amount Of relief notes now in circula-
lion, is according TO The report, S7O2,674 and
the Treasurer is inclined TO believe that pub
lie opinion requires their immediate withdraw
al as circulating medium. If they were with
drawn. The law, inflcting penalty for every
attempt to circulate note of less denomination
than five dollars, should be strictly observed.
II the means in the treasury are not sufficient
TO warrant their immediate redemption, he re-
commends that loan be authorized for that
purpose, at an interest Of six per cent, free from
taxation, and reimbursable In two or three
years.
The only Bank that has availed itself Of the
provisions of the ac, Of the llh of April l64S,
authorizing the issue Of Stale stocks bearing
an interest of six per cent. per anuum. on con-
dltion of its redeeming its relief issues, is the
Bank of The Northern Liberties Tha, inslitu.
.ion on the 18th of May last, presented TO the
Auditor General, the sum of $4,000 o: the
notes issued by j, under The act of May lS41,
and received therefor, certificates Of Stale
stock.
The receipts for the fiscal year from the pub
lie Improvements, amounted TO 81 $50, ,555 0S.
The sum expended for repairs and motive pow
er during the same period amounted to ST. ,0OS-
429 7S-Ieaving balance of $542, l25 26 de.
rived from the Improvements.
The report recommends the passage Of the
revenue bills submitted to the last Legislature,
by The late Secretary Of The Commonwealth,
the Auditor General, and The late State Treas
urer, and also slight alteration in the present
revenue laws, so tha. the tax imposed upon
debts due from solvent debtors, may be levied
for State purposes only.
The Treasurer concludes by expressing bis
confident opinion that the State debt can be
paid within tweny6 or thirty years. if the
proper Legislation is had upon The subject, and
that wthou. Increasing the bunhens of taxation
now resting upon the people, Daily News.