Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1863-01-15

ends on the 30th of November, and the Sink
ng-fund year on the first Monday of Septem
ber. This is the reason for the apparent de-
fcency in the amount of debt paid as stated
in the Treasurer's Report, and by the Com
missioners cf the Sinking Fund
Under the act Of the llth Of April, 1862,
l appointed William McCelland r. B. Me-
Combs, and NJ Russell Thayer, Esqrs, as rev.
enue commissioners, who have printed re-
port, and will no doubt submit the result of
their labors to the Legislature, to which l
invite attention.
| refer to the reports Of the State Treasur-
er and Auditor General for the details of the
financial affairs of the Commonwealth The
reports of all the Surveyor Generals, Superin-
tendent of Common Schools, and State Ii,
brairan, will exhibit the state department un,
der their care.
In accordance with the act Of 10Th Februa-
ry, 1862, The quota of this State Of the direct
tax of the United States, amount to one mil
lion nine hundred and fortysix thousand sew
en- hundred and nineteen dollars and thirty
six cents, was, on the l4th June, 1862, paid
to the United States, partly by relinquish-
ment of portion of the sums claimed by this
State from the Government and partly in
cash, after dedUcting the Is per ceut. allowed
by the act of Congress for prompt payment
Pennsylvania thus paid her quota Of direct
tax before any other State, There is still due
to the State, principally for advances since
made for transportation and equipment CT vol
unteers, about three hundred thousand dol
lars.
On the Goth February last, | issued MY
Un nj oT;b ha tO
deliver to the Philadelphia aud Erie Railroad
ed with the State in conformity with the act
OF May I, 1861, On the Goth OF November
issued a similar warrant. Both warrants
were granted after receiving reports from j.
A. Wright, Esq the commissioner appointed
for the purpose, that the proceeds of the bonds
previously issued had been appropriated III ac-
cordance with the provisions Of the law The
company has now received three of toe five
millions of bonds deposited in the State Treas
ury With the proceeds of the bonds issued,
ffty-two miles of road have been completed,
making, with what had formerly been finished
total of one hundred aud ninety nine miles,
leaving eighty-nine miles unfinished, of which
nearly all is graded aud ready for the iron -
The bonds still in the Treasury will yield an
amount ample to complete the road, and thus
open this important route of trade end COM
merce The development of the vast mineral
and other resources of our northwestern coun-
ties by this means, will undoubtedly in a few
years render valuable the securities Of the
Sunbury and Erie Railroad Company, now
forming part of the Sinking Fund Of the Com
monweaith.
The interest on the State debt was paid
iu August last. in specie or its equivalent, in
conformity with the existing law, at the ccst
of one hundred and forty six thousand six
hundred and tbirty-one dollars and twenty
two cents ($l46 63l, ,22), for the difference
between specie and paper currency, CT which
the banks, under the provisions of the Of llth
April, 1862, have already ref nded to the
State one hundred aud forty Thousand seven
hundred and sixty dollars aud thirty cents.
This burden On the banks has become heaV-
ier than il my judgement ought to be borne
by any special Interest.
Unless the Legislature should otherwise
provide, it will be the duty of the State Treas
urer to pay in like manner the interest which
will fall due hereafter. We should all be care
fol not to violate the faith or impair the cred
it of the Commonwealth. The serious and
careful consideration of the Legislature is in
Vited to the whole subject.
In my opinion there are already more iu
corporated banks in the Commonwealth than
are at present required for the public conVen-
ience, and | therefore recommend that no
more shall be incorporated.
On the 7th of July last, a call was made
by the President for three hundred thousanu
This Stota ha1 lraoIV Suppiipl
nearly one hundre and ten thousand men, yet
her people promptly bestirred themselves to
respond to this new requirement. Although
it was believed that no bounties would be nee
essary to induce the men Of Pennsylvania 10
enter the service of their country on such an
occasion, yet, as some of the neighboring
States offered large bounties, it was thought
not right to expose our citizens to the tempt
alton thus offered to them to enlist in regi-
ments of other States. There being no sp
preparation for the payment of bounties, |, of
course, could not direct them to be paid out
of the treasury, and it was evident that to
call the Legislature together and wait for the
negotiation of any loan, which might be an
thorized for the purpose would be attended by
injurious delay. Under these circumstances |
confidently appealed by proclamation to
people who have never faltered in the perfor-
nance Of any duty of patriotism, calling on
them to raise, in their several counties, the
sum necessary to insure their proportion of
the quota of the State. This appeal was ef
fectuallv answered Public meetings were
held, aud liberal amounts subscribed by indi-
viduals. In the city of Philadelphia, besides
a very large fluid thus raised, the municipal
authorities contributed heavily from their com
mon treasury, and in several counties the
country commissioners, generally under the
guarantee of few of their eminent citizens,
devoted country funds to the same purpose
| recommend that these proceedings be legal
lied, and submit to the wisdom of the Legis-
lature the question of what legislation would
be lust and nroper on the whole subject. that