The weekly Lancaster gazette. (Lancaster, Ohio) 1860-1863, 1863-01-15

IOu' hhauSi1l fCVuuitlvus ..-a. saff-t. A.
: 1t will be seen that the payments into
g the Treasury from all sources, during the
| fiscal year ending on the 18Th Of NoVem. 4
. Der, 1852. was S6. 939. .323e IA, and that
5 the payments tbersrom, during the ssms
o period amounted, to $500. 043 .O8, and
: that the cash bslance in the Treasury on
}. that day was S478, ,466 80. tiF 'G9
\ UDder the authority derived from tho
= Act entitled "An Act 10 establish the In.
dependent Treasury Of the State Of Ohio"
passed April. l2th. 1853. Royal Taylor. :
: Esq. Of Cuyahogs county. Ohio. was. on o
9 the 5th day of September, A. D. 1869 Z
appointed to examine the accounts Of lhiA
, department., and count Ito funds iE tie
r iron chest, ESQ
l. Mr. T4ylor'e report Of this sxathinsliop,
o which was made without a moments pre-;
p; Vious notice 10 the Treasurer. herewith
submitted, proves. what all who know
the Treasurer and his assistants had,rea;
son TO b lleve, that they are honest men
. and competent accountants. a~ ~
i In calling your atterton to the repotti
7 Of the Auditor Of State. you are invited a
.eally to the consideration Of a, true, ,.ber-
feet, and full history Of all the operations
Of the State Government for The past year.
This officer is entitled TO great credit Tor B
the care, skill, and labor be has bes,os,>J
l ed in preparing this importaht,iocumsht.
His several recommendations are entitled
to your fullest consideration and conf.
dence; and, without troubling you bere
with a particular recital of them, / com
mend what he has said to your favorable
] action.
II will be seen from this report tlia.
the total amount of taxes levied during
the year 1861, was 81 .07l, ,l27 SO; that
the ordinary expenses of the State Gov-
eminent for The year, were S715.4I4 13.s
and that there was paid for interest on
q the State debt, 1914 .3S9 SO. i. e..
+ That the entire Indebtedness OF the
II State 90 the 18th day Of November. A,
D. 1861. was sI4.s97, ,27s 81, of which
there was paid, during the year the sum
$ Of S755.6IO 70. leaving due Noyembef
18Th. 14,I4l ,666 6I.
That Of his debt the sum Of 1879.
378 20 is irreducibls, tha. of the balance
1857 1888 sc is payable both principal
E and inter, 81, al the State Treasury and
is designated from this fact, as the Do.
nestle debt, Of the State is supposed to be "
owned mainly by our citizens; and that
. sl3,283,77S 80, the balance OF the re,
desmable debt is payable both principal
? aud interest in the city Of New York,
D from which fact it istalled the Foreign
. Debt, owned partly By citiz ne Of our
own lSta,e, but mainly BY citizens Of
: other Stats, -'l
By the act of January 16, 1869, entiI
T lied ".tAn Act to suthorizs the banks To-
suspend specie paymehts," 10, it is pro- ]
u vided that ANY solvent banking insliiu.
! ton OF this State. aIsiliug itself Of the
t provisions Of this suspendidg act. shall.
during iis continuance in sus pension sun-
der this act, If required by tbs Treasurer
/. Of State, furnish him with sight exchange Z,
pay able. in New York ia ccin for It's own
notes. in proportion that the cifcnlatioh
Of such bank bears to the circulslioh Of
all the solvent banks Of the S'ate, at a.
rate NOT exceeding one half Of one per
cent. premium, 10 the extent required to
T pay the semi annual interest on The For.
eign Debt Of the State, and so much Of the
principal as is now or may be provided
for by law. ~. ~ = ~ s8.hafHi
All the banks Of the State believe.
{ availed Themselves of the PROVISIONS Of
: this act; and hence became liable. on pre-
sentation of their paper at their counters.
: each for it's II, TO furnish their several
!. proportions Of The coin required. !, ~
The sum needed to pay tie July in
i terest was S4O5,695 90, which was
= promptly furnished by several hanks,
; without exacting the presentation OF their
paper. thus gazing 10 the State the ex.
}, tpense incident, to asserting and present.
: ing their paper. .40 -.
e The difference between coin currency,
j or legal lender notes prevailing FOR the
1 past few months. was so great that il was
e scarcely to be expected that this LIBERAL,
ity on the par, of the banks would be
repeated. for our interest becoming due
g January lst, 1868, amounting to $685..
|, SOC 90. Hence, the financial officers Of
d the State wisely provided themselves
d with the notes of the several banks. Thus
e provided. the several banks promptly
5 met the demand upon them. .Ths inter-
Test. therefore, upon that portion Of our
n debt, made payable out Of the State, has
$ been promptly paid in coin.
J The interest upon our public debt has
r been paid. like all ordinary transactions,
y, between man and man, in what is kuown
o as currency. which is now, spd has been
), tor some months past, about thirty per
n cent. below coin. 1t is difficult to fnd
any good reason for making this dider:
snce with our creditors. Il is therefore
81 recommended that you make provision
81 for the payment Of interest in coin. upolt
6s all our debt; or that all ybe paid iE the
81 legal tender notes Of the Federal Govern.
30 ment. The banking interest is no. Alons
a interested il this question. Il 10 true.
: that for the past year this ihisTssthas
. sustained the burthen; but il is idlsto
q suppose that it will to do 50. for any con.
n sideaablo length Of time. Much as the
bankers may desire TO continue in the
d business of banking il is saie to assume
IT thai they will be governed BY what they
d may consider their ultimate interest. Aud
% it requires hut little knowledge Of the
Che business 10 see that they cannot
Ie make money in 2ufchaSing coin at thirty