Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1863-01-15
ten ms OF ADvERTIaanG.


/
made during the year, was I6s
| A list OF the names OF those pardoned b =
the Governor. with brief state meut Of the
reasons therefor, is herewith presented, in
9 communication from Judge Hoffman,
Private Secretary. !,
The report Of the Commissioners Of the
Reform School and Farm, in fairfield county
herewith, presents q most gratifying exhibit
Of that Institution. The number 10 aften-
dance at the close Of the year, was 1857
Tbs total expenses of the Institution for
the year, were Sl6.670 49, Tie high
character Of the gentlemen 10 charge of
this Institution should command fof their
report you favorable consideration.
The report of the State Treasurer, hare.
with submitted, Is a gratifying exhibit Of
our financial cohSition
Il will be seen that the payments into
the Treasury from all sources, during the
fiscal year ending on the 18th Of Noyem ber,'
1852, was &c, ,239. 323 IA, and that the
payments therefrom during the same perio.l
amounted to s5. S9O.0i3 80, and that the
cash balance in the Treasury, on that day,
was $i75, 456 49,.
Under the authority derived from the Aot
entitled IAN Act TO establish the ln1epen-
dent Treasury OF the State of Ohio, - passed
April i2th, 1858, Royal Taylor, Esq, of
Cuyahoga county, Ohio, was, on the 18th
day OF September, A. ID. 1862, appointed
to examine the accounts Of this department,
and count the funds in the iron chest. ,..s
Mr. Taylor S report of this examination,
which was made without m5,hent's prsyi-
GUS notice to the Treasurer, herewith sub.
mitted, proves, what all who know the
Treasurerand his assistants had reason to
believe, that they are honest men and com
petent accountants.
In calling your attention TO the report Of
the Auditor OF State, you are invited, really,
to the consideration of true, perfect and
full history of all the Operations of the
State government for the past year. This
oiilcer ls entitled to great credit for the care,
skull and labor he has bestowed in preparing
this Important document. His several
recommendations are entitled TO your fullest
consideration and confidence; and without
troubling you here with particular recital
OF them, L commend what he has said 10
your favorable action. .t.Lif
1t will be seen from this report, that the
total amount Of taxes levied during the year
1861, was $ll,07l.l2 SO; that the ordinary
expenses OF the State government for the
year, were s7l5,4l4 l3; and that there was
paid, for interest on the State dsbt, SS74,.
3S9 SS.
That the entire indebtedness ofthe State,
on the 5th day Of November, A. D. 1851
was $l4, S97, ,27S 81, OF which there was
paid, during the year, the SUN of $780,
$40 70; leaving due, November Is, 1862,
Sl4, IA, ,666 81. ~
That of this debt, the sum of 81. y7e. $40
% is irnedueihle; that of the -bslsuee. $751;
SS3 sc is payable, both principal and inter.
est, at the State Treasury, and is designa-
ted, from this fact, as the Domestic Debt of
the State, and is supposed to be owned,
mainly, by our own citizens; and that $l3,-
2S3, ,SlS 80, the balance of the redeemable
debt, Is payable, both principal and interest,
In the city OF New York, from which fact it
is called the Foreign Debt, owned partly by
citizens of our own STATE, but mainly by
citizens OF other States. ....... -,
BY the Act of January l6, 1862. entitled
An Act to authorize the banks tempor-
arily to suspend specie payments" &c, II
is provided, that ANY solvent banking in
sutution OF this State, availing itself of the
provisions Of this ssuspending act, shall, du-
ring its continuance in suspension under
this act, ifreauired by the Treasurer of
State, furnish him with sight ex-
change, payable in New York, in coin.
for its own notes, in the proportion that the
circulation of such bank bears to the circu-
lation OF all the solvent banks OF this State,
at a rate not exceeding one half of one per
cent. premium, to the extent required to
pay the semi annual interest on the present
Foreign DeLt of the State, and so much Of
the principal as IL now or may be provided
for by law" .siiia58
All the banks of the State, / believe,
availed themselves of the provisions of this
act; and hence became liable, on presenta.
ton of their paper at their counters, each
for itself, to furnish their several propor-
tions ofthe coin required. 81
The sum needed to pay the July inter.
est was s405, ,S25 90, which was promptly
furnished by the several banks, without sx-
acting the presentation Of their paI er, thus
saving to the State the expense incident 70
asserting and presenting their paper.
The difference between coin and currency,
or legal tender notes. prevailing for the past
few months, was so great, thar II was scarce
ly to be expected, that thi, libsrality on the
part of the banks Would be repeated, for
our interest becoming due January 1st, 1863,
amounting TO 993, 500 co. Hence, the g.
nancial officers of the State wisely provided
themselves with the notes of the severAl
banks, for presentation. Thus provided,
the several banks promptly met the demand
upon them. The interest, therefore, UPON
tnat portion Of onr debt, made payable out
Of the State, has promptly cen paid in ooin.
The, interest upon our domestic debt has
been paid, like all ordinary transactions b.
tween man and man, in what is known as
currency, which is now, aud has been for
some months past, about thirty per cent be-
low coin 1t is difficult to fnd any good
| reason for making this difference With 1our
creditors. 1t is therefore recommended
that you make provision for the payment of
interest in coin, upon all ofoifr debt, or that
all be paid in the legal tendor notes or ths
Federal Government. The banking inter.
est is not alone interested iu this question.
1t is true, that for the past year, tbis inter-
est has sustained the burtheu; but il is Idle
to suppose that it will continue to do. 20, for
any considerable length OF time. Much as
the bankers may desire to continue in the
business Of banking, II Is safe 70 assu,pd< -
they will be governed by what Trey may
consider their ultimate interest And 1t re-
Quires but little knowledge of the business
to see, that they cannot make money in
purchasing coin at thirty per cen'.. md sell
ing il at a half per cent. A failure, thsrs-
fore, on your part, 10 relieve the banks from
the provisions Of the act heretofore recited,l