The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1859-01-15
Finances Of the States.

and while they all show healthy and pros.
porous state, the memory of most Of our rea
ders will enable them to contrast the pres
en-: condion with that Of the same States
twenty years ago, when Illinois bonds sold
for II cts. on the collar in New Nork, and
Pennsylvania bonds for 37i cts.
ILLISoIs.-Govsrnor Bissell gives our State
debt IS follows:
Total Improvement debt. 80. 81 $50, CSC ! s
Total Canal debt. ........... i, ISL CTS. sc
Total arrears of interest funded
and refunded . 1880, S14 AZ
1915, 083.41
From which deduct pr CT fund
il the treas. TO. called for ne, G204S
Total State debt of Illinois, LBS, 453 90
Besides the above balance Of S776, 629, IS
in the treasury applicable to the reduction
OF our State debt, the State has has also in
her Golfers the following pleasant balances
most of which could be used in paying
debts if our creditors would only be willing
to give up their bonds dollar for dollar
Bal. of revenue" unexpended 1858, 074. -
. "interest fund.- 9 223 AZ, IS
Central L r. fund % 1858, so
non resident land fund q 1881 ,G7
The State is able to pay promptly every
six months the entire interest on her debt
is rapidly accommodating an enormous " sink
ing fund, and has more money in the trea-
sury than she needs to defray the ordinary
expenditures Of government
PESNsYLvASIA.-The Governors message
states that the finances Of the State are in
most satisfactory condition. The receipts
in the treasury for the fiscal year were over
$4,000. 600, expenditures three millions and
three quarters, The balance en- hand is over
three quarters of a million, and the entire
State debt nearly forty millions.
He recommends great reduction in the
public debt, locking towards its ext!ngu;sh-
ment.
Speaking OF the sale OF the main line, he
says that after the contract for the sale of
the Delaware division was entered into he
was informed higher prices were offered by
responsible parties, but, in his opinion, it
was then too late.
VIRGlSIA,-The Richmond Enruirer gives
the folio ING exhibit Of the easy and sub.
stantial condition Of tie financial affairs Of
the State Of Virginia:
I" The last legislature passed en- act post.
poulng the payment Of tho taxes into the
treasury, by " hich three fourths will be paw
able on the first day of February next, and
allowing an additional time Of six months
for payment from the time the commission
ers book were delivered to the Collectors
Tn er the operation OF this act, with less
than three fourths OF the taxes beng paya
bic the FRS; Auditor has paid the entire
interest payable by the State on the fiji St
pr-xinIo at London, New YORK, and at the
public Treasury az Richmond. He has a.
so paid the capitation tax and interest set
apart to tEe literary fund, the one per cent.
sinking fund on the public debt, and has
ample means remaining 20 satisfy the ordi2a-
r, charges oil government upon the treasu-
~. Besides this, with V gorous effort, the
First Auditor has collected Of arrears oftax-
C. due TO the State. and, with other mean.
ut command, sufficient amount to retire
81, GOO OF the one year treasury notes, which
had been issued to meet temporary charges
upon the tire; sUrv.
1t is also gratifying to learn that al bal
ances 10 public boards of the State have
been entirely paid off, and that the only
floating debt OF the State consists of Treasu
~ notes payable in twelve months, amount
ing to about $SoO,OGO. The one-fourth Of
Ind taxes Of the piesen; year, yet to be paid
will be sufficient, above the ordinary char
ges, to irduce this outstanding, floating debt
about five or six hundred thousand dollars,
.Ff hf It, g L
ing only two or three hundred thousand dol
lars to be paid by next years taxes, after
which. (as the present rate of taxes produ-
about $500, 600 surplus above the inter
est and sinking fund upon the public debt
and ordinary charges in support Of govern
ment) our taxes may be reduced"
New IoRK.-The Govesnsr's message pla-
ces the varied affairs Of the State plainly be-
ore the public and in 4 light not over-fatter-
tering to The pride Of the people. Tee Gov
erner says: " The funded debt on the 30th
of September, 1853, was So 0,9l3, 2JS77 Of
which So, sos, GOO 81 was the general fund
State debt, and 24,3O7, 7O4 40 was the canal
debt. OF the genera! fund State debt $3.50
600 become due IN 1852 and $4,000 be-
comes due in 1860. There is also a contin-
gent debt for stock issued TO certain railroad
companies, amounting to $4,000"
Gov. Morgan says that for the last fiscal
year, after paying the expenses Of collecting
pcrinteEdence, and repairs, chargeab ole
upon the canal revenues, there is deiicien-
cy ofS7 6,574 O3 81 the sum needed TO pay
the interest, and provides Sinking Fund"
to meet the first constitutional requirements
Of ST, Iu000 The interest upon the canal
d.bt alone is annually $i,35S, S92 80, The
interest upon the &C eral fund debt is an
Eualy $354, 600 10. If the entire surplus
revenue from the canals was now to be ap-
PR priated to the payment of interest on the
canal debt there would be deficiency Of
1866, sos 80.
Ii the general fund debt should b. includ-
ed, there would be a deficiency of S1l2,Tl0
Il 10 be provided for in some other man.
ner From a statement made to the Cover
nor by the Auditor of the Canal department,
1t appears there have been drafts made by
the Canal Commissioners up to the 30th
September, 1898, for 81 $50, O33 80, beyond
the .lliiy OF the treasury, meme of which
have been paid, and the amount of these
drafts will, In the opinion ofthe Auditor, by
the lst Of January, 1853, reach Sl,700, 600
From another source, the estimate for the
same period. and for the same object, is
$4,000, 100. Anything but fiatterns state
OF III pgs, certainly.
The Washington correspondent OF the
Pest says, that the reason that the Repubi-
cans OF the Illinois Legislature would not
tnke their seats on the first day was, be-
cause It was understood that the Democrats
t .aa agreed to elect successor to Nr. Trum-
uuIi, whose term does not expire for two
years.-N. Y. Tel. Despatch.
| All CANNON No such thing was thought
or talked OF at Springfield. The Republi-
can members kept away simply because one
or two OF their members were absent. and