Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1858-12-23

year CHUNG september oU, 1901 were $l,I1oO0 0U;
and for the fiscal yer ending September 80, 1858,
81, 541 ,941 22-making, with the balance on hand
November, 1856, the sum of So, $50, 6s7 "a. The
disbursements for the fiscal year ending September
80, 1857, amounted to s. O94, 2O7 So; and for the
fiscal year ending Sept 80, 1858, 81, 6s6, 400 IL
making for the two years So, 3O,6l6 46, and leav
ing on hand the sum of $106,021 4s.
The receipts into the Sinking Fund were $29, 25O
being dividends on State stock in the Raleigh and
CASTOR Road This paid in December 1867,
and the like sum has been will be paid for 1865
The amount first named was invested by the Com
missioners in State coupon bonds.
The Treasurer estimates the income of the public
fund from October 1, 1853 to September 80, 1859,
from ordinary sources, at $516,961 80; and from
1859 to 1860, at $511, 500 6S-making together
$1,02s,522 So The disbursements for the same pc
Rod for ordinary purposes he estimates at 81 Osl
O09 AZ, leaving deficit for the two years of $52
4S6 49,
The Treasurer then gives full statement of the
public debt, showing for what purposes contracted
and when it will fall due. The total funded debt
amounts to $6,s79,5O5 90. This does not include
$55o,OOO, endorsements for corporations. The an
nual interest on this funded debt is $412,77O 80;
paying $ls 900 per annum interest on the bonds of
the Cape Fear and Deep River Navigation Company.
This makes the whole amount of annual interest
paid by the State s4so,77o Of this interest the
sum of 1850 so is payable in Raleigh on regis
tered bonds, and the remainder in New York on
coupon bonds.
The income of the Literary Fund from all sources,
principal and otherwise for the two fiscal years
ed including balance hand November l, 1856,
was $5s3,S69 II; and the disbursements for the
same period $505, 202 81 leaving to the credit
of that fund October 1, 1858, $7s166 SO.
We make the following extracts from the con-
Guiding portions of the Treasurer's Report:
1.-The receipts from ordinary sources into the
Treasury for the last two years, would have consid
erably exceeded the disbursements for that period
but for the action of the Legislature in certain par
tculars, which could not be anticipated at the time
the estimates on which the Revenue Law was based
were sent to that body, and from other causes l
will name some of them: In the first place. the an
tcipaed receipts were diminished by the passage of
law diverting from the Public Fund into the Sink
ing Fund, the dividends from the Raleigh and Gas
ton Railroad 500 $50, and by the extension of the
time of payment of the bond of the Seaboard and
Roanoke Railroad Company for $5,3S7.14, which |
had estimated among the receipts, while the dis
bursements were increased to extent which could
not be anticipated when the estimates prepar-
ed follows: The appropriation for the statue of
Washington $12,277.19; the order to issue $780,
600 State bonds to the Albemarle & Chesapeake
Canal Company, on which have to pay interest
S22, 500; the payment to the University of Sc 900 ;
and the payment of $26,97O on the bonds of the
Cape Fear Il Deep River Navigation Company
though this latter put down as contingency
that mi ht happen, but was not deemed probable
the Company up to that time had promptly met
its interest There has been also falling off in the
last two years in the collection on bonds given for
Cherokee lands, to the amount of 81 ,497 These
together amount to the round sum of $1O3, 1851 33 ;
besides, under the act of the last Legislature have
had to advance to the Insane Asylum a larger
amount than has yet been returned to the Treas
ury by pay patients and the counties liable for in
digent patients This swelling of the disbursements
by the action of the Legislature to extent not
anticipated at the beginning of the session, and the
presentation of demands not expected and therefore
not provided for, has happened different times be-
fore, and has given rise to the necessity of making
temporary loans under resolutions to that effect
shown by former reports from this and the Comp
trollers office, in anticipation of the revenue, and
the payment of these when the revenue comes in
This continual round of borrowing and paying up
has become embarrassing to this Department and
will be more for the present fiscal year. For in
stance, the demands upon the Treasury, between
now and the coming in of the revenue by the Sher-
ifs, may be put down follows:
Amount due in New York, january
/, 1859, $109,S 90
Amount due in New York, April l,
1859, 59,sso 90
Amount due in New York, July 1,
1859, 1O9,S75 90
LIST Monday in Jan. and July, 1859, 5000 90
Amount due in Raleigh, LIST Jan. and
July, 1859, 1920 80
General Assembly, and part expenses
of the State, $4,000 90
$780, 80
Amount on hand, Oct.
l, 1858, $1O6,021 4S
Due in New York, Oct
1, 1858, 5s11O 90 1911 4S
...,... $4O29 1913 80
respectfully submit, therefore that authority be
given to sell at long period, say thirty years,
100000 of State bonds, and the placing of this
amount in the Treasury, that the Department
may be free of debt when the Sheriffs pay in the
annual revenue One reason for this recommends
ton is, that our bonds are now commanding high
er price in New York than they have for some time,
owing mainly to the great accumulation of money
at this time, at that and other points. Temporary
loans can no doubt be made usual, while steps
are being taken for this permanent loan.
Though 1 presented in special report of the
18th December, 1856, to the last Legislature, the
| Oh 1