The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-04-03

So06O
= The leading items of import during the week
foowsCoee $7S, 703 furs, $33 33l sugar, Sis 1877;
cutlery, al 500; tin, $lS 493; tea sos, 464 Watches
$40 443. The aggregate last week unusually limited
This moderate importation at this season is very
favorable feature in foreign trade any exhibit
Of this kind strengthens materially position in the
adjustment Of balances. We glad to these
siona checks in the mportations for they to
large our means Of payment through our exports
The Commissioners OF the Sinking Fund of the State of
Ohio in their report to the Legislature of that State
gives very interesting facts relative to the opera
tons Of the fund and the progress Of the reduction
payment of the public debt II appears to that the
finances Of that State managed with great deal Of
judgment and skin. 1t will be recoected by many
that the State Of Ohio was, not many years SINCE
plunged into the greatest financial difficulties and embar
easements by the reckessness, ignorance and exrava
gance of these who at that time controlled the public
and expenditures The credit Of the State was
nearly ruined and narrowly escaped delinquency and
perhaps reputation Fortunately better counsels pre-
vailed at the seat Of government and the finances of the
State taken out of the hands Of Wall street stock
jobbers and from that time the improvement has been
gradual and the credit of the State stands high
rs any other in the Union.
Curing the past year the domestic debt Of Ohio has
been reduced in the Of s1o4 697 leaving unpaid
balance of 1901 2S TO- part of which, except
70 is payable until after 1863 The certificates OF this
debt now outstanding are in the ownership of the Sin
dependent" and ''frce banks" of Ohio.
The Commissioners have purchased six per cent GER
Acates of the foreign debt falling after the 3ls Deem
ber 1885, to the par value of and paid for the
the gross of Ola IT, being the rate of
~ per cent premium. The amount of interest which
the State would have paid said bonds the LIST day
y~zA l-lA A.. .rlo1 nnfn
49, and the aggregate amount Of interest which they
would have drawn from the State in they had been
left unpaid till maturity, (three and half years. is
$15,466 SO.
Besides the Ohio stocks Of 1885, six per cent stocks Of
the United States purchased by the Commissioners
at aggregate cost OF $11q 50 at premium rang
ing from OK to 221s per cent The Commissioners de-
cned to make further investments in stocks of the Uni
ted States account of the high rate Of premium which
they commanded in the market, and from apprehen.
sion that they might become deprecated II the efforts
which making by the Pacific Railroad companies to
interest the general in their schemes should
be successful.
or the State debt due after 3lst December 1860 the
commissioners, previous to 1st Of January last, pur
chased the par value of $14 A. for which they paid
premium of eight per cent Had these bonds remained
unpaid until maturity, seven years and haf) the in
terst due by the State thereon up to that PERIOD would
nave ahiouhte" 10. 300 7bb 40
Deduct premium paid in their purchase S44 81
Amount saved above cost Of purchase. $50 921 10
1t will thus be that Notwithstanding the embar
easements by which the action Of the commissioners have
been rammeed the purchase Of Ohio bonds which they
have succeeded in making, has saved the State the
sum Of SCOOPS
The suggestions and figures contained in the extracts
copied below, are Of general interest,"
The Commissioners are constrained however to remind
the Legislature Of the fact that neither the debt due in
1885, much less the debt due in $780, DO met at its
maturity without providing by additional taxation the
necessary 10 accomplish end desirable to
the property holders Of the State An intelligent people
viii not expect their public liabilities TO be paid of with
out themselves frat furnishing the money to accomplish
H. Neither viii they claim, after the proper facts hare
been placed before them that this dcsirab bio end can
attained except by the payment Of taxes than
assessed the property Of the State during the seven
years ending the 18th Of November, 1852 For the
satisfaction Of the legislature and especially for
the consideration of the tax payers Of the State Com
mtsiorers beg leave to present few facts and figures
exhibiting the annual amount of the foreign and domes
tic debt OF Ohio and its aggregate reduction during the
Ierod just named II may be proper state that the
heures presented in this table have been carefully CON-
piled from the annual reports Of the Auditor Of State to
the legislature.
FcRneS AND DoNEsrIc DEBT Ono
n.3a