The weekly Placer herald., 1853-01-01
State Finances.


As the finances of the State of Califor-
MIA have attracted considerable attention
of late, and as various statements have
been put forth-some evidently in order
to advance, and others to depress the
price of state securities-we have thought
proper to procure an abstract of the rev
enues and expenditures of the State for
the last fiscal year, together with our in
debtedness, and publish them. t.
The amount of civil warrants issued
during the fiscal year ending June SOth
1852, was $925,694 Sc. The amount of
civil warrants issued from July LIST, to
December 18th, 1859, inclusive, was
$992,79S O4. Thus, from July 1st, 1851
to Dec. 10th, 1852, a period of seventeen
and a half months, the State of Calfor-
MIA issued, in warrants, one million three
hundred and eight thousand four hundred
and thirty-two dollars and sixty cents.
The estimated revenue of the State for
the fiscal year ending June 9oth, 1859, is
as Ows.-Tax on real and personal
property, all Of which goes to the interest
and school funds, $l5O,O0O Passenger
tax, all of which goes to State Hospital
$15O,00O; Auction and Gaming tax, three
and fourth to the General Fund
$5OOOO; Poll tax and tax on foreign mi
ners, all of which goes to the General
Fund, $9O, ,000-Making the entire reven-
ue of the State-$44O,O 900. t... t..
of this amount there should be deduct
ed at least one hundred and fifty thousand
dollars to pay the accruing interest upon
the civil debt, and for delinquents who
will never pay their taxes, thus leaving
but two hundred and ninety thousand dol
lars to meet an indebtedness of 1925, ,694-
Sc, which accrues annually.
The Audited State Debt, June SOth,
1852, was as follows:
Civil Debt, $1,27O,555 s9
War Debt Audited, 1000 Is
Total, $1,7s2, ,45S 90
Audited Debt, December 18th, 1859,
was as follows: .... III.
Eivil Debt, $l.S9S, ,203 IS
War Debt, III 100 O5
Debt to School Fund, l99,oso 90
Total, $2,949, ,4S3 SO
10 this should be added about five hun
dred thousand dollars of war debt, por-
ton of which has been presented, but for
which no provisions have yet been made
by law.
Thus it will be seen that the debt of the
State of California, on the 18th Decem-
Der, was $3.50, 4S3 So, or very nearly
three million dollars.
From this statement it would seem that
we are lncurring an annual expenditure of
nearly ono million dollars, while the rev
enue applicable to meet this expenditure,
IS but two hundred and ninety thousand
dollars. In a word, the entire revenues
of the State of California are insufficient
to pay the interest upon her public debt,
and support her hospitals. We are ac-
tualy running IN debt, each year, nearly
seven hundred thousand dollars, when
the State constitution expressly forbids
our running in debt one dollar.
1t must be evident THAI we cannot long
continue our present system of expendi-
lures. We must retrench, or the credit
Of the State will be entirely Destroyed
we cannot continue to expend such
enormous sums of money as we have up
to the present time, without involving the
State to such an extent that it will be i'm
possible to extricate her from her embar.
easements. We cannot, year after wear,
go on increasing the public debt at the
rate of seven hundred thousand dollars,
and this too in violation of the clause in
the Constitution, which forbids the crea-
ton of debt to exceed three hundred
thousand dollars, sexcept in case of war;"
or where the people have decided by a
direct vote, in favor of incurring such in
ueDtedneSS II3nps and Trnne ecri9f
The ewing" is informed by Mr. A. III.
Powers, who is engaged in the business of
getting out the posts for the contemplated
telegraph line between that city and Ma
rysvllle, that the work is rapidly progress
ing, and that it will probably be completed
through the entire route by the first of
April next. About 5000 posts will be re-
quired for the work as far as Livermore's
ranch, on the opposite side of the Bay
There are now twelve teams employed in
hauling them from the woods to the va
rious stations. The posts are standing
between San Francisco and San Mateo,
and the wire is daily expected. In all