Star of the Kanawha Valley. [volume] (Buffalo, Va. [W. Va.]) 1855-1856, 1855-12-19

ior disbursements during the same
Eperiol, excluding the same funds,
amounted to ~, 49,, SOS 10, shuw1nu
an. actual deficit OF 5,0ls %
which, as before stated, was provided
for by Q temporary loan of 100000,
The Treasurer, under the provis .ons
OF the law, executed his notes to the
Banks. payable until the time, ani /,
sufficient amount cannot be r.ce wed
by that day, it will BE- necessary thell
that these notes be renewed. This &C.
comino lation, it il. un lsrstoo |, thr
banks will not hesitate to expenl.
In . HitiOn to this diticit, exhibited
by 9 comparison between the receipts
AMI disbursements it is properto stlte
that sundry approximations male by
law. anil which were to have been paid
within the last fiscal year, have been
deferred in consequence oil a want Of
fnnls. These amounts in the agyre.
gate, TO about $931,0oo, and Will re-.
qlire an additional amount to be pro.
viledto pay them during the present
year. r.. Et,.l ',:.r F..
During the months of December
AMI January, a large portion of the
Commonwealth revenue is payable
AMI will be received, amounting. it is
estimated. to S1.1310o9. The Intsrst
lue on the public debt. and payable
on the first of January, is $737 900
| While, therefore, the amount in tlle
two monthswill be largely more than
sufficient Tor the payment Of the in,
terest, AMI for the or linarY expenses
OF the government, yet, as tits neccs,
sary to meet the. interest punctualIy.
the Treasurer has been authorized t.
negotiate a further temporary. loan tol
whatever amount may be requisite.
It may be asked, what Circumstances
have produced. this extraordinary de.
iciency in therevenne. The estimates
of receipts an disbursem ents for. the
last two years were ma lie by the Leg.
islature Of 1853. AMI Of course upon
the circumstance then existing, an
upon contingencies which hal existed
before, an which had not previously
proved fallacious, an were there orr
FULLY relic | on, but which under thu
condition of the country. anil its mon.
etary affairs since have entirelyfailel
1t il known to the General Assembly,
THAT the surplus rev.nte of the fund
for internal improyem INT, derive
from the profit upon its pro luctive
stocks, AMI all the premiums upon the
Esale Of State securities, are required
Ito be paid into the treasury. As tho
Boar.lof Public Works were autller.
LIED to subscribe a large amount t.
works of Internal Improvement, IN
10 negotiate the sale Of State bon1stt
meet these subscriptions, anil thes>
bonls were then at premium of five
or six per cent. a considerable sun
4 was estimate Ito be receive from this
source. twas with equal certainty
supposed that the companies, which
hal heretofore punctually pail the
interest upon the. loans male to them
Eby the State, woul | continue to NEE,
their engag sments. But this they
thaye not been able to do, an this re-
source haifailed. Some ofthese com
panies, which at the time of the esti-
mate were paying han lsome diyilens,
AMI lbeen 80 paying for many years,
have, from the necessity of relaying
their roads with heavy rails and from
the pressure Of the times, been forced
to suspend the payment Of div dens
altogether, or to pay them in scrip.
payable at aifuture day. bearing inter.
est. Thus increasing the deficiency.
Byth estimates for the last fiscal
year. based upon these contingencies:
I Ii was calculated that there woull be
received in the treasury. from the sur
plus Of the Internal Improvement
fund $3.50. 97S 90, while the amount
. actually received was only $162, 591
showing a deficit in this item alone toi
/ S46S, 3S7. 09I Under the constitn.
ton AMI laws the commissions OF the
Sinking Fund were required to pay
off that portion Of the public debt re.
lsleemable within the year, andtoliqni,
lslate the interest upon the whole per.
manent debt. To comply with this
requirement, the Auditor was torcel,
unler the law. to place the ainounr t.
the credit Of the Sinking Fund, and
thus pro luce at once the deficiency in
the treasury, It is known also that
THE tax on licenses, TO some extent, il
4 contingent one. The county courts
throughout the State have the power
/ to grant or withhold licenses to ths
. keepers of oriinaries and persons en-.
! gagged in the sale ofar. lent spirits, and
The tax on such licenses depends up.
Ion the grant. \ Unier the hope Of re-
forming the morals Of the people, the
/ friends Of temperance have induces
4 many Of the courts to refuse snch i,
/ censes. From this and other canses
there was a deficit in the estimate OF
lthis item Of Ssh. 029 4s. Add to this
4 the failure on the part Of the James
4 River and Kanawha Company to pa,
the interest on its debt 70 the Com