Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-11-14
Financial Operations OF Board OF Public Works with IN,
Sfate FRA


SEcoND ArnrToR's oFFcE, VIGGiSGA Nov lst 1858.
SIR; have the honor TO transmit here with in cunfor.
NIFTY to Law the following statements A. and C. exhibit
ing synopsis financial operations of the Board Of
Public Works with the Treasury during the fiscal year
ending 3Jth September ls53 the condition of the Inter
nal Improvement Fund the end Of the Sime wear and
the transactions OF the Sinking Fund since rginiz ltion
uoder the ace passed March esq., 1853 the 3Oth Sep
TENDER, 1858.
1t will be by A. that the receipts o, tue
Treasury, account of the Internal Improvement Fund
amounted To s5osTi2s 81 aud with the balance on hand
al the commencement Of the last fiscal year. made an ag
gregate Of $5,o2,I7S 2S. There disbursed during
the same period, s5,oio,639 3d. leaving balance the
Treasury, on the Is: October, 1853 of sol SIS G4
The sum OF si22yiI vG received account OF
dSdend bond7 and interest the productive invest
inentS of the Funds. and premiums loans Obtained
This amount IL sS,3il 81 than received from
the same sources during the year endng 3Vh September
ls52.
1t is c';mated that the receipts on account of produc.
tive investments, TOR the curreu year, will exceed by
considerable amount that at the las; wear The surplus
amount o: cd receipts after deduc,ing all legal charges
upon the dud for internal improvement; ia applied to.
wards tue payment OF interest the debt of the Common
wealth.
There received account of registered and cou-
pom bonds the sum of 81 o5O|S6 81. Deduct from said
amount the of S33 500 an Investment made bv the
Board Of the Literary Funl and 5000 lit hay
N: been Improperly rcceived-ar the increase of the
outstanding public debt; during til, last fiscal year,
amounts to i.O2G. $50 81.
The aggregate Outstanding public debt of The Common.
wealth On the lst October last, after dsducng the
amount redeemed, per exhibit Of the Sinking Fund il
ascerlainel u be :ls,cil,775 50.
IL i deemed proper here to state though not meuiio
Ell III the annexed statements that the euuated value OF
the productive investments held 10y the Internal Improve
ment Fund, and tic Commonwealth proper, TO obtain
which the debt OF the COmmouwe tth was incurred Is
estimlted at as BOO BY equaieI value l. meant tina,
amount which, six per cent Yields the revenue of these
stocks Therefore, the Outstanding deb oil Virginia on
tue ~ oc.ber le5S less the above value ofnvesments
Is gg2O2T5 So.
The disbursements onaccount Of loans to Internal In
proveTncnt Companies 20 be redeemed ia thirty Years
amounted 10 81 ,7uu.uO The sum of - $50 80
was paid on account Of subscriptions aud app OPERATIONS
for purposes Of Internal Improvement
Statement IL shows that the Internal Improvement fund
possesses productive investments amounting 226
80, winch - an increase Of - 993,2l2 SO over the
amount held at the end Of the fiscal year for 1852 In
arriving a: this result have deducted from the amour,
stated ia the report Of that year. the Of 10000
loaned to the RiPpahannock Company, which, though
cured by bond aud mortgage, then. is now
productive.
1t il pleasant TO be able note the gradual and perma
nent increase Of productive Investments
Statement is brief exhibit of the operations Of the
sinking fund since its organization.
The Commissioners Of said fund Organized under the
act passed March 26th, 1858. and in formy to the
goth section Of the 9Th article of tho Consultation unor
principles which insure the payment Of the interest aud
the gradual extinction Of the public debt OF the Common
wealth The establishment Of this fund should and mus,
necessarily place the credit Of the Commonwealth upon
the highest ground OF the public debt existing on che
lat day of January, 1882 there authorized be
deemed certain certificates amounting $l27gOO. Oi
this amount there has been redeemed STA BOD CT and
the residue the holders thereof have presented for
dempton. The Interest upon the thus author
lied TO be redeemed stopped the Let August last the
time advertised for it, redemption.
The balance in the Treasury the credit ofhe sink
fund on the lst day Of October 5j3, IL s37ji 50.
IL u deemed unnecessary into details thes,
will be found in the report required to make the
General Assembly
an, very respectfully your obedient servant
WM. l.. JACKSON, Second Auditor.
| To bis EGcelleDcy, JosEPH JoHSsoS,
Governor Of Virginia