Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1858-01-07


stand redeemed from the oppression of her
public debt, and her people be relieved from
taxation imposed to meet its accruing interest
ana maintain the faith and credit of the Com
monwealth, - and that ''by practising strict econ
omy in all departments of the Government
avoiding extravagant Notwithstanding to
undertake any new schemes of internal i'm
provement, and helding to a rigid accountable
ity the receiving and disbursing agents of the
State, the realization OF these views may be an
ticipated with coufidence.''
AS corroborative of the opinion now and
heretofore expressed, brief review Of the op-
erations of the Treasury during the past three
years, as connected with the payment OF the
debt of the Commonwealth, may not be inap-
propriate. In my first annual message to the
Legislature the fact was stated, that during the
three years intervening, between December ],
1851, and December ], 1854, the public debt
had been increased one million, five hundred
and eighty -four thousand, three hundred and
ffty-nine dollars and thirty-four cents; and that
the total debt at the close of the fiscal year,
December |, 1854, was forty-one millions, six
hundred and ninety-eight thousand, FIVE hun
dred and ninety dollats, and seventy-fou
cents, (S4l ,695, ,595 74.) At the close of the
late fiscal year, December !, 1857, three years
later, the funded and unfunded debt, as before
shown, was thirty-nine millions, eight hundred
and eighty-one thousand, seven hundred and
SSl, ,73S 22) decrease in three years. one mil
lion, eight hundred and sixteen thousand, eight
hundred and ffty-seyen dollars and ffty-two
cents, (sl,sl6,857 52)
Thus ~ three years the public debt has beed
decreased, by actual payment and without re-
sorting to the expedient of tempoI AIRY loans, one
million, eight hundred and sixteen thousand,
eight hundred and fifly-seven dollars and fifty
two cents. If to this be added the sum of four
h.ar1 a IL
and twenty dollars and twenty nine cts. (S4I4,-
920 30 now in the sinking fund, and applicable
to the payment of the funded debt, the reduc
ton will be two millions, two hundred and
thIrty-one thousand, seven hundred and seven
ty-seven dollars and eighty -one cents, 80, ,23I,-
TT 7l.)
These facts are not only gratifying, but en-
couraglng. 1t has already been stated that
there is in the Sinking Fund the sum of seven
millions, five hundred thousand dollars-bonds
of the Pennsylvania Railroad Company, bear
ing interest at the rate of five per centum per
annum, payable semi-annualy, and pledged TO
the payment of the funded debt. IF this sum
be added to the reduction before stated we
have presented to US a virtual, If not an actual
decrease, of the State debt Of nine millions
seven hundred and thirty one thousand, seven
hundred and seventy-seven dollars and eighty
one cents, S9,73l, III Sl:) showing the total
funded and unfuDded debt Of the State on the
first day OF December, 1857. to have been lhr-
ty one millions, nine hundred and sixty-six
thousand, eight hundred and eighteen dollars
and forty one cents 1881 ,966 613 AL
In anticipation of the sale OF the Main Line
and the decrease in the public debt, the State
tax, by an act of the last regular session, was
reduced from three 10 two and one-half mills
on the dollar; reduction equal to one sixth Of
the tax imposed for Slate purposes prior to that
act. These facts speak for themselves, Well
may the people be congratulated on such an
auspIcious beginning in the process of lquida-
ton, and well may they with confidence antic-
pate the day OF their deIiverance from State
taxation. financial and commercial embar-
rassment may postpone, nothing but unwise
legislation, and the imprudent or dishonest man
agement of our finances, can preventive early
realization of their well founded anticipations
The condition of the public works, their gen.
erai operation, the receipts and expenditures
during the past fiscal year, will be presented TO
you in detail in the Report of the Canal Com
mssioners.
The total receipts al the Treasury, from the
public works, for the year ending November
80, 1857, including receipts from the Main Line
up to the first day of August last, were one
million, three hundred and eight thousand, five
hundred and ninety Eight dollars and sixty-two
cents, (Sl,308, ,596 62.) The aggregate expeu-
ditures for the same period were one million
dred and five dollars and sixty cents, (Sl,-
3l2.705 67;) the expenditures exceeding the
revenues four thousand one hundred and seven
dollars and five cents, (S4,l0 05)
The receipts at the Treasury from the sever
al Divisions were as follows, viz:
Main Line, to August /, 1857, S196, $50 33
Susquehanna and North and West
Branch Divisions, 2S7,7lS %
Delaware Division, 224, ,329 "a
The receipts from the Delaware Division are
less than those Of the previous year. The COM
pletion Of rival Railroads and other causes,
have lessened the receipts from this important
division of our public works; and 1t is feared
will continue to decrease them. Its manage
ment has been satisfactory, and compared with
other divisions of the public improvements,
economical The ret revenue, at the Treasu-
ry, was STA 00l 81, decrease of S90O93 %,
as compared with the receipts of the preceding
wear. In addition 10 the ordinary expenditures,
the sum of sac, ,263 was paid for the enlarge
ment and improvement Of this division.
The North Branch Extension OF the Pennsyt-
vania canal, although so far completed in the
fall Of 1856, that boats freghted with coal and
other products, were successfully passed thro'
its entire length from Pittston TO the Junction
canal, yet in consequence OF large portion oil
the "Horse Race DAM having been carried
away by the freshet Of last spring, business on
the canal was suspended the greater part OF the
past year. Ii was repaired during the summer
and in the fall business was resumed along its
entire length Soon after, the same dam was
again extensively injured by a sudden and
heavy freshet, and the greater part ofthe canal
rendered useless for business. An appropria-
tiou will be required to reconstruct the dam.
This canal although useful and valuable, ap
pears to be doomed TO failure and Disaster
These are the fruits of former Encouragement
and fraud in its construction. Every effort has
10 a. tha n 4 n
agement. and to complete and render useful
this division of our public works. Under prop
er management it can be successfully accom-
pIished.
In pursuance eff the act of the 10th day of
May, 1857, providing for the sale of the Main
Line of the public works, after giving the no
tice required by law. | caused the said Main