The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1862-01-16

4
paid, are forwarded to Washington, and
partial repaymepts have already been
made.
1t will be Observed that the receipts
from ordinary sources of revenue, for the
year 1851, have decreased, but, as pay
mepts have been made on some of them
since the settlement at the end of the 6s.
cal year on the first of December, and
moe esy reasonably be expected in ad-
dition to the payments to be made BY the
National Government as hereinafte sta
ted, the balance available in the treasury
will be largely increased.
1t will also be observed that it has not
yet been found necessary to call in all of
the loan effected under the act of the 18th
of May last
To some items. the ordinary revenue of
1861 was in excess OF that of 1860.
The loan authorized by the act Of May
Is, 1861, vas taken at par. This occur
renee, most gratifying under all the then
existing rcuustances Of embarrassment,
affords triumphant evidence of the conf
deuce of the people in the stability and
integrity of the Co d monweal,h, and of
the determination to support the Govern
mcnt.
The operations of the sinking fund du-
riug the last year have been, as shown by
my proclaim alton OF 5th Of September last,
as follows:
Debt redeemed from 4th of Sept.
1860, to lst of Sept. 1861 $300,60I OF
Of stock loans S3O0,050 90
OF int'st on certificates 1880 OIL
OF selief notes All OO
-S3O0,s0l OIL
refer to the reports of the State Trea-
surer and Auditor General for the details
of the financial affairs of the Common
wealth. The reports of the Surveyor
General and State Librarian will exhibit
the state of ihe departments under their
care.
The Commissioners of the Sinking
Fund during the last spring resolved from
the Philadelphia and Erie Gate Sunbury
aud Erie) Railroad Company forty bonds
Of that company for 10000 each, and
a mortgage to secure the same executed
in conformity with the third section Of
the act of March the 9Th, 1851. That
company has also deposited in the State
Treasury its bonds to the amount of five
millions of dollars in accordance with the
9th section OF the same act. On the 9th
of May last granted my warrant author
izing the state Treasurer to deliver to the
said company one thousand of said bonds,
being to the amount of one million OF dol.
lar.. This warrant was issued in coDfor.
nifty With the Law, the five per cent bonds
mentioned in the 6fth section of the act
Except those belonging to the State aud
pow in the sinking fund) having been
previously Surrendered and cancelled, and
satisfaction entered on the record OF the
mortgage mentioned in said fifth section.
Having receised notice from the compa-
ny that the boUds so delivered to the com.
pany or their proceeds bad been appropri-
ated 10 accordance With the provisions of
the law, on the 2lst of June last | ap-
pointed John A, Wright as Com missioner
to examine and to report to me whether
said bonds or their proceeds had been ap.
propriated to the purposes required BY the
act. His report has not yet been receiv-
ed by me.
It is understood that arrangements
have at last teen 70 ade under which the
direct railroad connection between Phil
adelphia and Erie will be completed with
in a short time. 1t is impossible to esti-
n mste too highly the Importance of this
great work to the Commonwealth, and es-
pecially to Philadelphia and Erie and the
hitherto neglected counties near its route
west of the Susquehanua.
By the act of the 2lst April, 1853 for
the sale of the State canals to the Sunbu-
ry and Erie Railroad Company. it was
provided that if that company should sell
said canals for greater sun in the az.
gregate than three and half millions OF
dollars, seventy five per centum OF such
excess should be paid to the Conmon.
wealth by transfer Of so much OF such
bonds and securities as said cospany
should receive for tho same and payable
in like manner.
The company sold the canals. and re.
ported that the share of the profit on such
sale, due to the Commonwealth, was S2el
$50, of which $3.50 was paid in cash, and
for the remaining 1881 900 the Common.
wealth received coupon bonds of the Wy
oming Canal Company to that amount
being portion of bonds for $500 900. is
sued by that company, and secured BY a
mortgage of the Wyoming Canal. former.
ly called the Lower North Branch Canal.
These bonds bear an interest of six per
cent per annum. payable semi. annually
on the 18th of January and July, and the
interest was paid by the company to Jan
usry last inclusive. The interest due in
July last has not been paid. Judg.
ments having been obtained against the
the company on some OF the coupons
for the unpaid July interest,", bill in e.
quit, was fled in the Supreme Court BY
a bond aud stockholder, in which such
proceedings were had, that by a decree
% sde on the I'd of September last. the
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