The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1858-01-07
Ohio Under Republican Rule.

Aside from the interesting facts relative to our
state debt contained inthe following article, which
we take from the Columbus Gazette, il pays just
tribute to the present excellent management of the
financial affairs of the State.
Our PUBLIC DEBr--THE JANUARY INTEREsT.-
The public debt OF Ohio Is divided into three clas-
ses foreign, domestic and irreducible. The
foreign debt of the State amounts to about 3d.
1000. The interest on this sum is ut the rate
Of six per cent per annum payable semi-annually
10 New York, except Sl, $780, which is at the
rate of five per cent and is due in 1865. Of the
per cent. debt, the sum OF 1914 3, ,325 will be-
come due in 1860, 1.-TWO years from this time,)
The domestic debt of the State is only ss277,-
707 The interest on that sum is also at per
cent, aud is payable scm-annually, at the Treas
dry in Columbus. These sem-aunual payments
require about $S30,00O TO meet the demand each
year.
The irrreducible debt OF the State amounts al
this time to S2, 398 49l, and is composed OF
school and trust funds, derived from the sale OF
section l6, school lands the Virginia Military
school lands the Western Reserve school lands
the United States Military School lands; Ohio
University fund, &c. &c. The State pays interest
on this sum TO the various purposes for which th.
fund is devoted. This sum, last year, amounted
TO 1888, ,420.
The interest upon the foreign debt is paid OH
the first of July and January, annually. Crcum-
stances well known to the public, have tried the
credit and character of the State during the past
year, but we are rejoiced to say that wo have ri.
umphed oyer all Obstacles and have promptly
met all our pecunary obligations. The alarming
fact was proclaimed, just before the July interest
became due, that there was a deficit of over hal
million of dollars in the Treasury. The Fund
Commissioners were obliged to borrow nearly
$500, 900 to meet the emergency. But, such has
heretofore been our promptneSs,aud high character
for pecuniary integrity, tha. the necessary means
were at once rendered, and our July interest wa.
all paid at the day il was due
| The January payment then became matter o.
soicitude. The Treasury was empty The inan
cia revusion that had swept over the country was
severely tel; in Ohio, aud it was apprehended thai
our people would find great difficulty in paying
their taxes. Beside the County Treasurers art
not required to settle and pay over to the Treas
urer OF State the funds in their hands before the
month of February, at least month latter thar
the time when the money to meet our interes
must be in New York. Many intelligent persons
felt serious apprehensions that our State would b,
compelled to sustain a severe blow, by failing tC
respond to the demands upon her, at the required
timo. But the officers of the State, having thi
business in charge were wide awake The Audit
| or Oh Stnte, uTcW upon tTcaSurcrS OIL tno Vountic
in favor Of the Treasurer of State, for such sum
as in the aggregate would enable him to procur
the necessary exchange upon New York for th'
emergency on the first day of January. The Stat
Treasurer at once notified the County Treasurer
of what was expected of them and to their homo
as n class be it said, they have nobly and prompt
" responded, The State Treasurer has been abl
to furnish to the Fund Commissioners the enlir
amount that is required to pay the January inter
est, ($i20, ,000) and last Monday Auditor Wrigh
aud Attorney General Wolcott started TO New
York with this fund in their pockets.
i When it is remembered that all these thing
have been done out of tho ordinary channel, wit
an empty Treasury, and in the midst of II most sc
vero financial crisis, they furnish the very best evi
drnce to the world ofthe great pecuniary resource
and capacity Of Ohio, aud of disposition, unde
all circumstances, to meet with promptneSs an
good faith all her moneyed obligations. We prout
iy present this result 10 the world, and ask n II
membrance of it as the best evidence we can furl
lish of beth capacity ana sound public faith
II is also an item OF interest TO the tax payer
to learn that the present Treasurer of State hG
arranged for this sum $4,000 al an expense tc
premiums OF oaly ~ ,02i.SS, being less than on
half of one per cent for these drafts on New Yorl
This, in view Of the times, and the high price {
exchange speaks well for the skill and managemeI
of the Treasurer. 1t is about 81 800 less tina
the State has paid at any time for several yea
past.
In view of all these facts, We are sure the ia
PAYERS of the State will cxclaim "Well done,goC
and faithful servauts
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