Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1858-01-01


fiscal year december l. 1857. as follows, viz:
FUNDED DETr
& per cent loan. ...........s ilolSO 90
........... 5o'.'5.-l2 %
=. c,. :. 100000 90 ,,o -, 70, 3.
UNFUNnEp DIET
Relief notes in circulation. Sl4Gi2l 90
Interest certificates outst,ndg 2Si' 81
" unclaimed i,i+S IS
Domestic creditors. ...... SOS 80
Total untunded debt........ - 1751I5 20
Total debt December !, ls57... ... $50 I73s -
Total debt December / ls56.......... $40 s35 25
d" l, ls57............. 81 ssl ,75s -
necrease during late fiscal year Oa7 IS
These statements exhibit the gratifying fact, that du
ring the past fiscal year the public dtt has been rrcu
ced eight hundred and twenty thousand ninety
dollars Snd iity five cents. During the period
large appropriations and paymepts were made on ac
count Of public mpro for old and unsettled
claims adjusted under tie act OF last session, and
other extraordinary Irrlr-es.
The condition Of the Treasury por to the suspension
of specie payments hv The Banks justified the sppropr
alton of at least two hundred thousand dollars in
payment of the public delft, and arrangements We're
made by the Treasurer under the direction of the Com
msi9nsrf nus sEsl @ S tFf s stn n and and IT, Il cu"nt nanra
embarrassment of the country. the proposed payment,
from prudential motives postponed Had this pay
been made in ad iitou 10 the vmens already
ported, the statements and calculations submitted in
my last annual Message in relation To- tr early PAYMENT
and final eXtinguishmeut Of the publ. debt, would thus
far have been sustained by their actual yeicatiOn-
The that prevented their realization it is beev
ed will to affect njurously h revenues of
the Commonwealth. Actuatei by that inicruitahle en-
ergy that has characterized the American People
faterng for moment but not dsheartened by the ad
circumstance, that surround us-rOused TO more
vigorous action by disaster and defeat progress can
not long be checked. prosperity long he inter
rupted Confidence the nsitye, Yet powerful agency,
that binds in unity and strength the great financial
commercial and industrial interests OF country and
he denly
cial and commercial distress and affecting the revenues
of the Commonwealth; but with the advantages result
ing from the rapid development of resources during
the last quarter of Il ceniury-the immensely valuable
increase of our agricultural mining and manufacturing
all the element of material wealth in midst,
its restoration at early period Is not probemaiica
Returning confidence will be the herald of returning
prosperity NOtwthstanding then, the sent embar
rassment and gloomy condition Of the country after
careful consideration OF the present and prospective
dion of the finances and resources of the Common
wealth, cannot hesitate reaf'rn my belief " that
the time is far distant when Pennsylvania will stand
redeemed from the oppression of her public debt, and
her people be relieved from taxation imposed TO meet
its accrung interest and maintain the faith and credit
of the Commonwealth, and that ry practising strict
economy in all departments Of the Goverument-svoid
ing extravagant exTenditure-refusing to undertake
any new schemes of internal Improvement, and holding
to rigid accountability the receiving and discussing
of the the realization these views may
be anticipated with confidence
As corrohoative of the opinion and heretofore
expressed brief review Of the operations Of the Trea
payment of the debt of the Commonwealth may not be
inappropriate In my annual message to the Lea
gsature the fact stated. that during the three
years intervening between December l, 1851 and De
cember l.'ls5i the public debt had been increased one
million five hundred and eighty-four thousand three
hundred and fty-nine dollars and thirty four cents;
and that the total debt the close OF the fiscal year
December l. 1854 forty-one millions, six hundred
and ninety eight thousand, i've hundred and ninety
FIVE dollars, and seventyiour cents, (:+lG9s, 595
"a At the close of the late fiscal year, December
l, 1851, three years later the funded and unfunde
debt. as before shown, thirty nine millions. eight
hundred and eighiy-One thousand seven hundred and
thirtyght dollars and twenty two cents; $50 3s
22) decrease in three years, million eight hundred
and sixteen thousand. eight hundred and fty-seven
dollars and mty-twO cents, 81 Sl6,sJ1 81
Thus in three years tn" public debt has been decreas
ed, by actual payment and without resntng to the
pedient Of temporary loans million eight hundred
and sixteen thousand. eight hundred and fftyseven
dollars and tfy-two cents If 70 this he added the
of four hundred and fourteen thousand, nine hundred
and twenty dollars and twenty-nine cents ili g2O 80
in the sinking fundand applicable 10 the payment
Of the funded debt the redu tion will be two millions
two hundred and thirty.oDe thousand seven hundred
~ 81
These facts are not only gratifying, but encouraging
II has already been stated that there Is in the sinking
Fund the sum Of seven millions five hundred thousand
dollars-bunis Of the Peuusy vania hailruad lomft'
bearing interest the rate of ve per per an
num- payable semi annuaii, and pledged 10 the pay
,nt ~ The nIud.i Icut. II this sum he added to the
rrluc.- - stated, have presented TO yirtu
a. If not actual decrease Of the State debt Of nine
millions hundred and thirty thousand seven
hundred and seventy dollars and eishyone cents,
tSg13l517 SD showing the total funded and uniunded
debt the State the rst day Of December 1851. To
have been thrty-onc millions, nine hundred and sixty
six thousand eight hundred and eighteen dollars and
forty-one cents ls3l 9dd,sls ~
In anticipation of the sale OF the Main Line and the
decrease IN the public debt the tax, by of
the last regular session, reduced from three to two
and one half mills the dollar reduction equal 10
sixth of the imposed for state purposes prior that
act. These facts speak for themselves Well may the
people be congratulated such auspcIous beginning
the process Of liquidation and well may they with
ndnce anticipate the day Of their deverance from state
taxation. Financial and commercial embarTass may
postpone nothing but uu~se legislation and the impru
dent or dishonest management Of finances, pre-
the early realization of their well founded aniicpa
tons
The condition Of the public works their general opera
ton the receipts and expenditures during the past fiscal
year will be presented you in detail the Report Of
the Canal Commissioners.
The total receipts the Treasury. from the public
works the year ending November 30 1857. including
receipts from the Nam Line up the first day August
last, were million three hundred and ght thousand
1--WE hundred aad ninety eight dollars ad sixty cents
Isl sos 500 G2l. The aggregate expenditures for the
same period were one million three hundred and twelve
thousand hundred aud i've dollars and sixty
cents (Sl 3l2 7'5 o. the expenditures exceeding the
revenues four tousand hundred and dollars
and I'VE cents, - .l07 %
The receipts the Treasury from the several Divisions
were as follows. viz
MliR Line 70 August lS57 .....-..... SIe65jO 80
SUsqgehauua North and West Branch D-
VISIONS. ..-.....-..-..--... ZeLtIo 30
Delaware Division. 22so.S d