The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1852-06-16

IS fsiihfully observed, 90 q 10 prevent the per-
manent debt Of the city beine increased, be.
Ieanoo of ~ purchaeo e d. cir gsoundes
thoSe b yet permanent debf, tIIe belofe6nen-
toned sum Of 81 ,246,925 81 cents, and Of tenn.
p0rsfy debt, the bonds beforementioncd fos
go 40, and the bank debt 81 155O0O.
Remarks and Recom1sesdAti0ns.
& From such mari of the CITY debt as wss IN.
CURED for Water Works, an income has bsen
derived We also calculate an increase from
the 1880, 900 invested in the Gas Works. But
from the stock in the James River and Kama
whn Company which cost $576, 800. the stock
81 The Richmond and Danvile Railroad Com
pany. which cost 600, 900, and the stock in
the Virginia and 1ennessee Railroad Compa-
nv. which cost 100000, making together
1876. 800. we receive no dividend. Yet we have
to provide for the punctual payment Of the an
nual interest on the whole amount of the city
red for these stocks. as for other purposes;
and under the 47th and 48th sections Of the
City Charter, following, in this respect. the
Constitution of the State. there is to be set
apart as q sinking fund at least one per cent
beyond the annual interest.
When we see. that for the last year, leaving
cut the Gas Works, ION account Of which the
receipts and disbursements nearly balanced
each other,) the income only amounted TO
about $4,000, and when we see that about
half Of this sum is required to meet the annual
charge on account of the city debt, and that OF
the other about $4,000, is annually required
for officers salaries, pay of the Night Watch,
Superintendent of the Poor, Education OF In
dieent Children, and other necessary current
expenses, it is very obvious that such income
as is at our disposal for the improvement THE
city within the corporate limits, is very small,
compared with the many objects which press
upon US, and call for the application of money.
We desire to do with that income as much as
we can towards city improvements, and TO avoid
any further increase of the permanent debt,
unless for purpose, deemed by majority of
the votera of sufficient importance to justify it.
In accordance with the views of the Commit
tee Of Finance, the Council on the 30th of June,
1851, resolved that the Commissioners OF
Streets should abstain from recommending,
and the Council should forbear ordering, the
commencement ofother works upon the streets,
during the ensuing fiscal year, unless under
C rcumstances of very great necessity; the
Council also, when il passed the ordinance of
the 9th of October, 1851, authorizing the issue
of bonds payable to tbs amount of $4,000,
in each of the years 1858, 1854 and 1855, pro.
vided in that ordinance that these bonds should
be paid out of the taxes and other yearly in
come Of the city during the fiscal year in which
the same should be respectively payable.
At the time of the passage of that ordinance,
it was hoped that the proceeds of the bonds for
10000, issued under it, coming in, and the
other income of the city, would be sufficient
to materially reduce the bank debt during the
last, and entirely pay it of. during the present
fiscal year. From what has been said already,
1t is plain that in any such hope we shall be
for it has been stated that the
disbursements during the last fiscal year, ex
ceeded the receipts not less than 81, $50 %,
and, according to the estimates, the disburse-
ments for the present year, even without any
further appropriations, will exceed the receipts
$l5,353 06, making together 63,012 09, sum
exceeding the whole amount of the bonds is.
sued under the ordinance OF October 6, 1851,
thereby leaving the bank debt of $4,000 ex-
listing at the commencement of the last fiscal
year., land increased 10 $55,O0O during that
yea-) unuiminished
This results from the amount of appropria.
tons made after the Chamber lain made ont his
estimates for the last year; and from the dis
bursements consequently exceeding the esti-
mates. Thus for the last year for the repairs
and improvement of streets, the estimate was
SAG, 1860, and the disbursements SCI ,073 35; for
the water rents the estimate was $4,000, md
the disbursements $2l, 52t 80; for the poor the
estimate was $500, and the disbursements
81, 4S6: and for appropriations charged under
Sou VI tuuu, tue was $OUUU,
and the disbursements $6,649 IS, making in
these four items alone disbursement OF abou,
S26,0O0 beyond what was included in the esti-
mates. During the last year an ordinance
passed providing flu Their for the education of
ndigent children, and making an appropria-
hon to repair and fit up the academy building
as an Atheneum, on account of which there
was paid during the last year 81 1886 81, and
balance n remained to be paid this year of 81 ,l8l.
The estimates of this year also include $685.
375 30 for repairs and improvements of streets,
and $lO,00O for building vegetable and fish
markets.
If the Council desires its appropriations to
be met without increasing the permanent debt
d the city, 1t seems necessary on the one hand
10 practise increased circumspection in regard
10 the objects and the amounts of appropria-
ions, and on the other hand to take measures
70 enlarge the city's income. During the late
session of the General Assembly an act was
passed authorisng the Council to assess on the |
sheriff OF the city sum not exceeding $4,000 |
md on the Sergeant not exceeding $500. Ii |
proper 10 avail ourselves of this act; and il |
nay be that there are other new subjects on
which taxes may be laid, and some old subjects |
IN which the taxes may be increased or advan. |
ageously modified. Those will REQUIRE some |
ime Tor consideration, and in respect to many |
u the subjects, it may be too late to act in time
or the taxes of this year. The Committee pro- |
pose to the Council to adopt the following re-
solution:
Resolred, That the Committee of Finance
consider on what new subjects taxes may be |
aid. and on what old subjects the taxes NAV
Dc increased or advantageously modified: and |
hat leave be given the said committee to bring |
q said ordinances in relation to taxes as they
nay deem advisable.
Delinquent Tarpayers-Mr Robinson from the
Committee of Finance, reported the collectors
lst of insolvents and delnqaents for 1851 author
zing the chamberlain to credit the collector with
ne amount found to be correct, and directing said
ist to be placed in the hands of such persons a.
he committee OF Finance may approve, and that
not exceeding 25 per cent, to be al.
owed on so much as may be collected. The re.
port was concurred in.
Observation-Disclosures authorizing the prope.
grading of Cary stleet from Foushee street to Il
corporation line, and appropristing sls5 TO the
repair OF 1lth street from the Northern side of the