Bedford inquirer and chronicle. [volume] (Bedford, Pa.) 1854-1857, 1856-01-11

lzlng these certificates of State stock. ssal-
so by the conditions of the certificates *
sned in pursuance thereof, the time az nav
iAent, after the expiration of the minimum
period; il optional with the debtor-the
eommuonwealth-yet due regard 10 the
credit Of the State requires that provision
sneuld be made for their renewal or re-
demption. To redeem these certificates a
loan would become necessary, as a loan cam
not be effected, in the present financial con-
ditisn of the country, on terms more fa-
yerable to the State, than those on which
these certificates were issued. wauld'rec-
omlneud that authority be given to issue the
! bones of the Commonwealth in renewal of
said certificates, bearing interest at the rate
OF FIVE per cent. per aDaum, payable semi
annually, and ledeeniable on or after the
expiration Of twenty years; and that the
bonds be issued with coupons or certifi-
Gates of interest attached, in sums equal
IN amount the semi-aunual interest there
on, payable on the first days of February
and August in each and every wear, at such
place as may be designated. This change
in the form and character Of the certih-
Gates, it is believed, will be SO aavanta-
geous to the holders, without increasing the
liabilities of the Commonwealth. as To in
duce willing and prompt exchange, at
premium, fer the bonds proposed to be is
sued.
Tie condition of the public works, their
general operation. and the receipts and ex-
penditures for the past fiscal year, will be
presented 70 you in the report of the Canal
Commissioners.
The aggregate receipts at the Treasury
from the public works, for the year ending
November so, 1855, were Sl,942,37G II.
The aggregate expenditures, including ordi-
nary and extraordinary payments, for the
same Period, amounted to S1,S3S,19f Is,
showing an excess of receipts, over all ex-
penditures, of SI03,5S5 53.
The extraordinary payments for the same
year, texeluding SI38, loo 90 paid for re-
laying the south track Of the Columbia
Railroad, and S2S, 900 90 for rebuilding
the Frceport Aqueduct,l were $500, ,427
%. The ordinary expenditures were ST.
lto ,011 ~,
Aggregate receipts as
above stated. SI.s4o 3T6 II
Ordinary expenditure, I.l4s,36S 40
Nettreyenues for fiscal ". S794,o13 81
1his tssluree sgEsiiai,ssts xi.,,l i..-rpsss,
tbs. nett revenues, as compared with the
nett revenues Of 1851, and notwithstanding
the withdrawal of the transportation lines
from the Jiiain line of the Caual. the argre-
gate revenge. tor the last fyeaF have ex-
ceeded the re7aaues of 1854 by more
than tweuty-tlraee shpusand dollars. From
the abundant crops ol the past year, the
improved condition Of tue monetary af-
fairs of The country aud TIE general revival
Of business, a large increase in tLis revenue
for the current year may be confidently ex-
pecied. -
The sum of Si6l,12o p, has beea paid
into the Treasury by the Pennsylvania laii-
road company and other railroad companies,
as TIE tax on tonnage passing over tbeir
roads. This amount largely exceeds ihe sum
paid bv the Same companies ia 1884.
The Delaware division exhibits satisfac-
tory result. The total receipts we're 1892
673 -; expenditures SEQ ,09Ts So; show
ing net revenue of S332,575 So. If all
our lines Of Improvement exhibited siuli-
lar balance sheet, the people woald have
less cause ofeomplaint and mere confidence
in the general oPerat on at thl system.
There bus been large increase in the
business aud tonnage of the Columbia rail-
road, and a corresponding increase in the
receipts therefrom. The operations of this
road for the past year have been highly
satisfactory. The operations OF that part
of the main line from the Junction 20 Pitts
burg, including the Portage railroad, do
not present so favorable a result. The re-
ceipts have greatly diminished, and were
not sufficient TO meet the ordinary expendi-
lures. The revenues from the nt4in line
30 not equal the receipts of the previous
years. The causes ofihis reduction are APP
ed 10 aud enumerated. 1t is but Just to
add that the expenditures on this line have
been much diminished by the avoidance of
die Inclined planes On the Portage rail-
road.
regret to inform you that the railroad
TO avoid the enclincd planes on the Ale
gheBy mountain, has not been completed as
was confidently anticipated. The delay in
the completion of this work has occasioned
much Inconvenience 10 the business Of the
main line and a loss to the revenues Of the
Commonwealth. Tho expenditures have
largely exceeded the original estimates for
It's construction; ana although the sum of
S217, ,730 90 was appropriated at the last
session Of the Legislature for the completion
Of this work. sum covering the estimate
of the Engineer--yet after the expenditure
OF the whole amount thus appropriated, tue
the road is unfinished; and to complete it,
and pay the debts. contracted, the further
sum of S1I7,573 sc, rs now estimated Us
the Engiaeer, will be required. Either tile
estimates have been very carelessly made,
or large SUMS of money uselessly-aud ex-
trayagantly expended in the prosecution Of
this Improvement. As aiding the business
of the Nam Line, reducing still further its
expenditures aud relieving the Treasury,