Union County star and Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1859-1864, 1862-01-10
Balance in Treasury 81, ,55l sos ~

Balance IN treasury 81, ,0ol ,bUo 1.
The semi annual interest on the State debt
which will be due and payable On the LIST Of
next month will amount to nearly one million
of dollars.
1t is gratifying to know that the State will be
ready and prompt as usual to meet the interes,
On her obligations.
How much of the balance in the Treasury
may yet be required to meet expenses of our
military operations is impossible to say but the
probability is that the uaeIpended balance will
be sufficient for all those purposes, unless the
State should receive future reQuisition from
the General Government for more troops. Ii
no further requisition shall be made upon us,
the refunded balance in the Treasury will then
oe applicable to the defenses Of our State the
| redemption of her loans, meeting the direct tax
| of the General Gov srnment, or such other pur-
poses as iu the wisdom Of the Legislature may
seem most proper.
By an act of Congress, approved August 5th,
1861, direct tax OF twenty millions
| OF dollars was levied against all the States oi
the Union The quota OF Pennsy lvania, under
that Act, is 81, ,946, 7l9 33 Two modes OF pay
| ment of this tax to the General Government
are presented by the provisions Of the Act. One
is, thai it may be paid by the citizens Of each
State direct ~ collectors To be appointed by the
General Government and the other mode, that
the State may assume and pay the tax and
collect it herself from her own citizens.
would respectfully urge upon the Legisla-
ture the assumption aud payment of this tax
by our State, for two reasons - First The
innovation of fGovernment tax collectors among
our people would be distasteful to our citizens.
who would undoubtedly much prefer to pay the
tax to our own State collectors in the usual
manner Secondly. Because the adoption OF
that course will save about three hundred thou
sand dollars to the State, as an allowance of
fifteen per cent is made by the Act TO all States
who will assume the collection OF said tax.
Under the supposition that the State will
assume the tax, l would respectfully suggest
mode by which our citizens may be relieved
from the payment of it for the coming year
by proviso in the sd section of the Act afore
said, it is allowed that this tax may be paid
and satisfied in whole or in part by the release
of any State duly executed To the United States
of any lquidated and determined claim OF such
State of equal amount against the United
States" 1t is further provided (" that ia case
Of such release, such State shall be allowed the
same abatement of the amount of such tax as
would be allowed in Case of the payment of the
| same in money"
would respectfully propose that the claim of
our State against the General Government for
! military expenses be determined NJ soon as it
can te done, and that the Legislature shall au-
| thorize a release to be made of such claim to
pay the amount Of our State tax aforesaid
| This would relieve us from imposing this tax
upon our citizens for the present year, and it is
| TO be hoped that by the time it would be ne
cesssry TO levy such tax for any succeeding
year, that the existing war and rebellion may
be crushed out and the general business OF the
country will have recovered from its present de-
preston and financial embarrassment, and our
citizens be better able to sustain the burthen of
such a tax.
In this connection cannot but express the
hope that our Representatives in Congress may
be requested by the Legislature to take such
action as shall put the expenses of this unholy
war and rebellion upon the traitors who com
menced and are now sustaining it; that they be
requested to support such measures in Congress
as shall authorize the seizure and confiscation
SO far as it can be done constitutionally, of the
property OF the rebels engaged in this rebellion.
| to pay the war debt OF the Government and
thus relieve the loyal citizens and their chill
dren from the onerous burden of taxation which
they will otherwise have to sustain for wears TO
come.
The State is holder of bonds of the Wyoming
Canal Company TO the amount of s2Sl 900 90.
Upon these bonds the interest WAS punctual-
ly paid up to the 18th Of January last -
In July the company defauted in its in
terest due at that time ard it yet remains
unpaid. Being informed that some action
was about to be taken by the bondholders
to reorganize the company by sale of the
| canals under the mortgage, l addressed q let
| ter 10 the trustees Of the mortgage on the 30th
of September, requesting that they would take
no action in reference TO a sale without first
notifying me rs the representative of the inter
est of the State in the matter. They referred
my letter to c. III. Clark, E>q., attorney for the
bond-holders, who informed me by letter that
he was fully authorized by the large bond
holders to treat with the state for the bonds
she holds, and that it was his and their desire
that the interests of the State should be properly
protected to the same extent as other bond
holden" subsequently, had an interview with
Mr.. Clark, and ascertaned from him that in
consequence of suits having been instituted
| against the company, receiver had been ap-
pointed, and plan matured between the stock
and bond holders to reorganize the company,
and that application would be made to the Court
To grant a decree of sale. The action contem-
plated would result in a substitution of stock
for the bonds held by the State, and a reduc-
ton or loss of about ten per cent. OF the
amount Of her bonds. declined to act for the
State in the matter, for the reason, that had
no authority TO compromise OF make any settle
ment which would not realize to the State the
full amount of her claim. Under these circum-
stances, l would respectfully recommend imme-
diate action upon the part Of the Legislature to
protect the interests Of the State in this matter
At the last session of the Legislature an &C,
was passed Ito change the name Of the Sunbury
and Erie Railroad Company and to facilitate tn,
completion Of . railroad from Sunbury 10 Erie