The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-03-16

prise, bat they have rival In this city which they
osnnot successfully compete with. tr..-...
The Finance Comuittss Of the lower house Of tho
Legislature Of Virginia have reported bill, which
unsnimously ordered to its ssgrossmsnt the gra
dual redemption Of the pubic debt Of the State. II
proposes the repeal Of the act creating sinking fasd
and the csnselng Of ell the osrtiacstss Of State
stosk purchased by the and that them
tsrss to the lst Of JAM lSis also proposes
that the bonds Of the James River and Ksnawha coa
psny by the State, and heretofore held BY
the Commissioners Of the Sinking Fund, be ira nfsrsd
to and vested Ia the president and directors OF Tho
Board Of Public Works subject to be disposed Of
part Of the fund for interns improvements It also
proposes that the Of one hundred thousan nd dol
Oars bs annually set apart and paid BY the
rant Of the auditor the order the Board Of Public
Works, to b spilled by the board to the gradual
dsmption Of much Of the public debt - shall be
due or rsdesmsbs from time to time And II, In any
year. the funds in the treasury shal be insufficient to
supply the annual appropriation, tho Board Of Public
wsrks shall be empowered to raise by temporary loan
so much a. may be necessary for that purpose. In
like manner, If the annual appropriation to the grA
dual redemption Of the public debt be insufficient to
redeem any certificates Of public debt falling due and
payment be demanded by the holders the Board Of
Public Works shall be authorised to raise by tempo
much may oe necessary TO effect such redemption
and al state stock deemed shall be osnoelled and
filed in the treasury Office Of the Common wealth
There Is NO doubt but that this bill will pass both
houses Of the Legislature ana tAke effect Immediately
Nothing tsnds much to raise the credit Of the In
,dsbted States, both at home and abroad, such evil
.denoss Of determination the part OF the people
through their representatives provide for tho ns
and prompt liquidation Of the debts - they reach
oturity.
The report Of the Albany Savings Bank, for tho
year ls4S given very favorable account Of the inst-
tuition, its condition at the close Of the year.
ALBANY SAvisos BAsK-lsIs
Amount due depostors the jan le4s SLOT 81
Amount received from dspostorn from LIST
January, lS48 to let January, 1919. 30z 200 43
Amount cIedtso TO depositors for Interest
from lst January lS48 70 January l849 80 30I 4e
10lo,ls7 81
lSAS. ......... o07 ,062 46
733,l25 Us
Amount invested on oons ana motteags... 5000 90
Amount invested In stocks Of the United
States, Uni,sd States Treasury notes,
bonds OF tho Corporation OF the city Of
Albany, stocks OF this State, aad other
States. according TO law 3l4oso OF
in this city on the LIST January, lo49. 8S3,1o5 o.
7ss l25 o6
There POI accounts open, the greater part for
Loss INA ono nuuWou payments 60 Qep0g1-
tors for the year. exceed the receipts $4772 o. The
great number Of deposors favorable feature In the
operations Of ths nstitution and s evidence Of
thrift and economy the industrial classes Of Albany
Savings banks exert wonderful influence upon the
working Glasses The facilities they afford for the safe
keeping Of small sums OF money, where they
drawing interest from tho day Of che deposit creates
disposition to accumulate and in this way FERNS the
nucleus Of small fortunes. The fact that the indus
trial GLASSES commence and extend their deposits In
those institutions gives greater interest the
government under which they live, and makes them
better members Of society. They have grestsr in
terest In the preservation Of peace sad the moral
Husnce IL therefore Immense 1t should be the aim Of
rulers to encourage the formation and growth Of
these banks and such is the disposition Of nearly
every one that when nucleus Is IL Termed, tho desire
TO becomes stronger the greater the amount
accumulated.
The annexed statement exhibits the quantity of each
description OF exported to the United States from
Canton, In each Of the past fur yssrs:-