The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1858-01-14

y
the Cshal Bank Of Cletelkhd, making an
Aggregate Or 1855 sos, ,O5j Of which b die.
bufsed III payments for the Slate, S6t7s444,.
:O1i and paid oter TO his successor. in differ
ert Sums OF pi different times, $303 ,S65,.
o.; being the Whole stnohht thus obtained
and appropriated, except 81, 1864; Of which |
Last sum he retained Tor exchange, claimed I
10 have been paid for the January interest, !
s2,735,54. The small balance is included
in the fefslcaton as reported by the present
Treasurer.
But no, on.y was there this actual deficit
IN cash means, but debts also existed, con.
N,rscted in 1865, and, as TO the greater .por,
;,Ion without warrant Of law, to the amount
OF e6s9 ,G66,75. TIE dcbu originated in
sppUIes end ltbor, furnished to the State
and its Ia, tituti0ns, iUr the most part in
GOOD filth; aud the creditors, therefore,
could not properly be denied payment.
The actual condition Of the treasury is
exhibited by the following statement:
Arrrekn,r Of sums deposited with failed
sankt end siarkeTs, rctstned tor ex-
change and uhiawfuy ubs;rreted, seS, ,0C4 s6
Add the amount retained as cxchnl ge paid
= for January interest, 1855, c.YeS 81
Also the amount Of debs Of lsSS Vnraid, ssO66S IS
The total amount: I,44s,s ,s06 0,
This tctGl exhibits the amount by which
the condition OF the treasury was worse thar
it would have been had no money been de-
posted except with repositories, giving
ample securities; had arrangements been
made with these dupoeitories, as they doubt
less might have been, for the payment OF
the interest on the State debt without cost
for txchanee; had no money been unlaw.
fully tbstrbcted; and had no debts been
unlawiuly created 10 be paid ,ut Of the re.
venues Of tu6se qucnt years.
rnw II trcm this total Of SI,IIS,:6 cS
There he deducted the reported balance
ofNovemtsT l3i le5S, 'oS''o Gu
rh,,.,m,.r,.n ;HtaS es
The remainder Is the amount let, "rh
En tmIty treatury, ts tharQe upon tie
rsyt tuues Of 1885, 6 and subsC quent years;
except go far IS ems to meet il might be
Irth ed frt n. lie claims against derositurles
and eFainlt tie cx. x.T1eusurers ahd their
,ureties; cr from revenues due in 1885, bIt
net then paid. From these sources have
been in ftCt received:
Ps,msnts by pariel ReCkel on ae'ouLt
,fGrposit with Dayton Psnk, &l5.MOto
JExCs bshkG duo IN 1855, paid in SO, l26' %
Total, M.SM !
irs ,o Ike shove SUMS sums, we're M '~o' ~ S,sSs,2so .,
lie aggregate disbnrs, ments as IhcWnby
He Audher'a drafts, including S5lp,HS
IS. yEia Oh account Of debts Ot lsS:-5,
were '''X'X'" a
Fires, NJ di<bu,.s nents above receipts. l.3,357 s.
TO which should he Dddtd the deficit OF
cash means, November IS, lE55v Es,SS4 u
NJ issss s,325 s
NalirE m stertgtts whrh had to be rro'
Vided n, m other sources than NVcLues
Fnd was probably, In part, provided
through umi orsrI loans By lreSturer oo. o,c :.
Gibson, 4S'Ni1 :
1he aggregate rceei, is Of 1857 were S,ls9,is5
She aggregate dsturpt mcIris tbtho~nty
AUDITORS drafts redeemed, !Ni'''' Z
r.ee.s Of receipts above drstA redeemed, 47.4es I
E5==z
The amount uppro> ided for from reSeive
November IS. 1853, was, as sSen above, 2ce,ol2
aIVs Of reee,pu, eTt "''' '' - lS7,4ss c
p,d ,here rer Mrs .tn unrrr,idcd for 1850
To tliG should ts added tie eAtess OF war
rantA isteed Bt owe Grrnnts redeemed,
nf which &12l,lE5 S9 wsTo paid b! the
sussscnen,, ss en- Ri ,cC7 I
dtie amc urt due the Seneca reurD
CcmnrSy, ora ~, '> ' ''' " Ito,Oco c
ara m tte event Of Judicial decision af-
filming the Canal Contract. for ihs DIFF
ference between SctuaI cost and con"
tract Price of repairing seciioES9,3, .,
.Inde e, tie further sum 0s t'..@I :
,ss7' Of 35I,ss5 @
From tie foregoing statements, it ap
reare that tie expenses Of 1866 ant
1861, have been met from tho revenue o
these wears without the aid Of any balanC'
from the year ls54-5; end that on actus
deficit Of Cprb means at the close Of thu
vesr OF Sg9,43s,s6, has been supplied, an
debts contrsc cted in 1S54-5, to the amount O
ebl9,6e5.75, have besn paid, with no mem
derived frsm that year, except $l4l '59
frorn bank taxes and the Dayton Bank de
rssit. II there hod been no defalcation
The means in the treasury would have beeI
annie to pay the debts Of 1855, and NEE
all other demands, including the considers
bic expenses stte nding the organization
two new institutions, the Farm School an
the Asy lum fer Idiots. II there had bee
no debts. the defalcatiOn would not hav
.cnsibly embarrassed the operations Of tn
trt asury.
FUNDS to SUPPLY, in part, the drain Q
these debts and the deficit created by III
defalcatior, have been obtained ihroug
Temporary orrsngeme nts, to the amount G
LbCut S35O,OOO. These funds have bee
slreaJy reimbursed, in great part, oct OF tn
current revenue. 1t will now be nccessur
oreiues the appropriations Of the eurren
yrer by Ian equnl amount, or TO authorize
temporary lean to make good the dehcienc
eLd TO increase the tsxes Of the coming yea
ky the fa.all aCti,isn aeoGed 10 diseharg
it.
It Las been pre- posed to raire tie neces
tsry trm by the sale OF the public property
have on former occasion expressed my
self in favcr Of such q sule, under Prora
guards and for fair prices. But snlcs
prices below the rctunI valhe Of The PROF
erty ere warranted by no principle Of polio
OF economy; nur ought the proceeds Of th
sales, when made, 10 be applied to uny ott
er purpose ttaa the reduction OF the publ
d.bt. .... ....
! am confident that the p,opie would pre-
fer q lliL hi increase Of the rates Of taxatio
and half a Mill on the dollar will anpl
fufice-to an increase Of the public deb
r to diversion of the proceeds Of the Pu!
lie property to any other purpose than it's n
6ucticn.
The folk wing schedules will exhibit Il
hxable properly OF tie State as valued f
rxation; the respective amounts Of Stat
county ard local trxes, and the total amour
Of taxes levied in each Of the last shrt
years: r..
We give the substance Of the schedules