Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1853-11-17
Fnaroial Operations Of the Board Of Public
Works

Works.
The Enquirer publishes synopsis of the fnan-
ea operations of the Board of Public Works with
the State Treasury, during the fiscal year ending
Both September, 1853, transmitted by the Second
Auditor Ia the Governor in conformity with law.
We extract thorcfrom the following:
The receipts of the Treasury, ON account of
the Internal Improvement Fund amounted to So
Os7, 12S y; and with the balance on hand, at the
commencement of the last fiscal year, made an
aggregate of S5,102,l7S 23, There was disburs-
cd, during the Same period, $5,0l0,632 50, leny-
ing a balance in the Treasury, on the lst of Oct,
1853, of sol SD 81.
The sum Of 9l25,9l7 06 was received on ac-
count Of dividends, bonus and interest the
productive investments of the Fund, and prcm-
inns ON loans obtained This amount is SS,3il-
ii moro than was received from the same sources
during the year ending both September, 1882.
There was received ON account of registered
and coupon bonds, the sum of ~4,o5O, 1S6 81
Deduct from said amount the sum of S23 800. an
Investment made by the Board of the Literary
Fund, aud 5000 returned-it having been inn
properly receivcd-and the increase of the out
standing public debt, during the last fiscal year,
amounts 10 Sl,026,766 81.
The aggregate outstanding public debt of the
Commonwealth, on the LIST Oct. last, after de
Quoting the amount redeemed, per exhibit of
the Sinking Fund, IS ascertaned to be SlS,0il,-
rs 30.
1t is deemed proper here to state, though not
mentioned in the annexed statements, that the
equnted value of the productive Investments, held
by the Internal Improvement Fund, and the Com
monwenlth proper, to obtain which the debt of
the Commonwealth was incurred, is estimated ut
Ss,l2l500. BY equdted raiue is meant that II
mount, which, AT slN per cent, yields the revenue
OF these stocks. Therefore, the outstanding
debt OF Virginia on the st of October 1853, less
al,
50.
The disbursements on account of loans to In
ternal improvement Companies, to be redeemed
i'll thirty four years, amounted to 81 70O,9OU The
sum of 81 l49, 552 81 was paid on account of sub
scriptons and appropriations for purposes of In
ternal improvement.
The Internal improvement fund possesses pro-
dnctiYc investments amounting 10 5000, 226 30,
which is an increase OF 81 ,993,2l2 St over the
amount held at the end of the fiscal year for
1882.
The Commis sioners of the Sinking Fund organ
lied under the act passed March Goth, 1853, and
III conformity TO the 29th section of the 18th arti-
Gle otthe constitution; upon principles which in
sure the payment of the interest, and the gradual
extinction of the public debt of the Common
wealth. The establishment of this fund should
aud must necessarily place the credit of the Com
monwealth upon the highest ground. Ofthepub-
lie debt existing on the lst day of January, 1852,
there was authorized to be redeemed certain Ger
ttcate+ amounting to $4,000. OF this amount
there has been redeemed Slll,566 o. and the
residue the holders thereof have not presented
for redemption. The interest upon the amount
thus authorized to be redeemed stopped ON the
Isl August last, the time advertised for its re
demption,
The balance in the Treasury to the credit of
the sinking fund ON the LIST day of October, 1853,
is SI3,75l 50.