Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1863-09-16
STATE DEBT SINKING FUND.


.-. STATE DEBT SINKING
The committee would call the attention Legislature
the general the fund.- The Auditor reports
balance due the fund s67s626 which, present would
absorb all the money in the Treasury and leave the Treasury in
debt onehaf million the appropriations
exceeding the and the money apart for the demp
ton of the State debt the last applied the purposes intended
1t should be the business of the officers immediately after the
received apply the the purpose prescribed by
law and leave it to be preyed every other appop
ton. The the above fund
Office satisfactory. regarded special
fund.- but only expended public
other for the money! and in the books his Office
made Auditors report which shows receipts for 1861
be s2637 81 and disbursements of bonds be
s259 a. but there satisfactory showing when how that
expended The report the fund
received the United $4,000 Treasury which
sold for S432639 80 which presume and al
though the bonds purchased nomnay price
sold still the loss the State s17
361 20 1t also, from comparing dates that the redemption
going simultaneously negotiations and
selling Of them, the necessity for which the committee
comprehend
By of the special approved June g. 1861 the officers
of State authorized to make temporary loan in order pu
chase supplies for troops the service of this State provide
transportation of provision this
made including however, back December, 1850 which
amounted in total January 81, 1862, 81 495735 33
Upon which paid debit. ............. 1,5335i9
Over paid S37s14 80
This payment presumed interest," and
makes formidable item in the past expenditures
The committee 60 back and Judge of the necessity
loans given a very
liberal construction the law which limits the necessity pur
chasing supplies and providing transportation troops the
service the State Besides place during
the period when being negotiated
the proceeds of which these be paid The committee
not desire be censoous but think the record of transactions of
such Importance and delicate nature should accompanied
by explanation of the for DOING especially times
like these, when public officers should be rigid
actions and careful in their
ACCOUNTS GOVERNMENT.
Government as shown
by the Auditors report:
By cash s1eo.oe1 OF
By Treasury Notes 100000 %
There is unsettled balance sufficient to pay the
State tax 769,144 o.
These amounts have been paid the State
made for carrying war; nothing the
report Office upon
what vouchers these
there be due the State But from report
Governor reference purchase and disposition of
find that the and vouchers paid from the
Fund have forwarded Washington. also find the
Military forwarded certified
copies the in the Auditors Office The Governor
have most of these his also his
message, from data in his hands,
State s35964 70 This would the floating
said and reduce the slOOOOO
ing that amount legacy of debt after the Federal
should returned all war; except
Contingent Fund used for the benefit of
soldiers and for payment of State defense of
border The items which have provide this year,
and will have to during the
may be said large portion of this pay
by the General Government the State That
collected the Federal year. revenue
in the State will far exceed the above Besides
the productive of the State begins feel
the loss of labor of many the citizens the army
less able stand heavy taxation than
years ago.
From these facts and premises the committee the
conclusion that the of finance pursued