The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-20

period. Observation-Disclosures. 900
Leaving balance in Treasury Oct l. 1862 81 900 900
The balance of 81 06o is subject TO deduction of
twenty five per centum each year of the revenue re
ceipt for school purposes, amounting to $40 900 and
also 20 such appropriations as may be made by the
General Assembly for extraordinary purposes. The only
bonds authorized and yet liable TO be issued the
5000 600 due the southwest branch Of the Pacific Rail
road, which, with the whole amount issued, make an
aggregate q S23 70l 600 adding the four hundred
revenue bonds (due next july, the proceeds of which
devoted 10 the payment Of interest the aggregate
S24 0l o00-Ss49 900 less than the aggregate amount
authorized. The interest due on January l, 1861 has
been met without any increase OF the public debt but
this cannot be done next July under the existing laws
affecting the public revenue How the necessary means
shall be provided Is question deserving the special
tention of the General Assembly.
We have copy of the inaugural address of
Governor Yates, of Illinois. Financially, it has
nothing of interest in this meridian, except in the
suggestion on banking and the currency, imme
date attention to which is pressed upon the no.
tice of the Legislature. The Governor says
Irecommend as an amendment to the law that banks
should redeem their circulation at central point spe
cited for instance, at such rate will remuerate them
for the necessary expense incurred by this plan What
amendment might temporarily disturb the value OF the
circulation will readily be seen, inasmuch the pract
cal esSa would DC o 70 orins an epos eqa terms aud
sariy discarded and put in liquidation
The Governor thinks that some losses may accrue
to note holders under adoption Of such system
but in his view it would be better to meet with
some loss at present, and place things on bette
basis, than to keep on losing a. they are now
doing. Again he says
recommend also that securities hereafter 10 be depos
ted in trust for issues be restricted to Illinois and United
states bonds. AT earlier date many objections might
have been urged against this provision, but that
circulation is twelve millions, few, presume, will be dis
posed complain should this total no in
for years TO come As the valse Of United States
securities have deprecated very materially FOR the past
few wecks Il might be TO illinois bonds
exclusively; but We may reasonably hope that
admin ,;ra,ion will place the debt upon such
o basis will command the confidence of capital az
home and abroad BY this policy the bonds Of state
will be absorbed for banking purposes and thus with
draw from market 10 considerable extent, and would
consequently be less subject TO rapid fluctuations Of value
The annexed is the statement of the traffic and
condition Of the Hudson River Railroad for the year
ending 30th September, showing that the road has
earned about four per cent on its stock during the
capital stock paid in ,y5s 400
Funded debt, az by last report Sss2 900
Funded debt, now 9,10I 900
Floating debt by last report....... ....... H4,654
Average rate Of interest paid, . per cent
Total cost Of road and equp by last report II 3ss 90
Double track including sidings miles lis, oss
Weigh, Of rail, per yard, on main
Number first class passenger cars. %
Number freight cars ............... 521
Number miles run by passr trains 5io,339
Number miles run BY freight trains, 426.726
Number passengers carried 10 cars 1,637.65l
Number tons Of freight carried. 337 49,
Of iron, repairs and taxes .....,1,.... s27i sto
Expense Of repairs Of machinery .......... 1s7 AL
Expense OF operating the road. ............ 500 $50
tarnings-tfom pass engors. ....... 81 ,194 o38
From freight. .......st.. SI,Iy}
From other sourccs..... 54,sl2
- 2,oa7,I45
Payments other than construction
For transportation ............ 1852 02t
FOR interest. .'s.s.... .ss.s+..s. ooioaf 49,
- L 300 ,672