The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1865-01-13

Raj. IN Treasury, Nov. 80, 1864, ,94Z, 2O3 63
The operations of the sinking fund during
the last year have been shown by my proci;.-
nation CT the 27th day of September last, as
follows:
Amt of debt Of Commonwealth
reduced s268, 500 50
AS follows, viz:
Five per cent. loan of
the Commonwealth, S2GS, sos 03
Interest certificates re-
deemed, 26l AZ
3G8, $50 so
The fiscal year accounted for in the state
rnent of the Treasury Department, embraces
the tiule FROM the lst Of December 1853, TO
the 30ih of November, 1864. The sinking
fund year commenced the first Monday in sep
tember, 1853, This will explain the discrep-
aacy between the statement of the Treasury
Department as to the reduction Of the public
debt of the State, and the statement embodied
in tie proclamation relative to the sinking fund
Amount Of public debt Ut Penn
sylgania, as it stood On the st
day Of December, 1863, $50, ,496,59G 78
Deduct amount redeemed at the
State Treasury during the fis-
cal year ending Nov. 80, 1864 lI6,992 81
Public debt Dec. 1, 1864, 39,379, sos o.
Funded debt, S36, 264, ,095 y
unfuuded debt, 1850 -
36,S7e, COS 81
Military lean, per act 18th May,
1861, 100000 90
Total public debt Dec. |, 1861, 39,379, 403 %
The Commonwealth holds bonds received
from thn nf lao ,,,,rI-c
$I0,300, 900, as follows:
Pennsylvania railroad company
bonds, $500. 600 90
Philadelphia and Erie railroad
company bonds, $500, GOO 90
slo,3o0,Ooo 94
These bonds are in the sinking fund. and re-
duce The public del.t to $29,O79, COS -qi.
The tax on tonnage imposed 6y the acts Vi
30th April and 25th August, 1864, has yielded
something less thaa 5000, 000-a much less
than was anticipated I recommend revision
of these acts FOE lie purpose of rendering this
source of re gcrue more productive, and amend
ing other defects in those bills,
The revenue derived from the tax or banks
dalina he year amounts to $3.50, COG 81, but
under the Grabbing act Of the State so many OF
our banks have become National banks under
the act ot Congress, that tEis source of rcve-
nue may be considered &s substantially cxtln-
guishcd, and il will be necessary in some way
to make up the deficiency from other sources.
The act OF Congress authorizes the taxation
hy The State Of the stock in the National banks
in the hands Of the holders, not exceeding the
rate Of taxation imposed on other similar prop
erty, and part of the deficiency may be thus
provided for
I ! T. al. -
ing fund during the year Is unusually stnsll,
which is to be accounted for by The extraorrii-
nary expenses which have been incurred. STi3,
600 baye been p;il to refund 10 the banks the
money advanced hY them to pay the volunteers
il service during the invasion Of The State in
1868. 100000 have Teen distributed among
the inhabitants OF Chambersburg, suffering by
the rebel ,iestrucl ION Of their town About
5000, 900 haze been expended under the acts
providing for the payment OF extra military
claims, and in addition TO these extraordinary
OUTLAWS, the amount appropriated to charities
was las; year larger than usual
In rnv opinion this matter of donations to
charities is fast running 10 great abuse. Hou-
ses Of refuge, and insane, blind, aud deaf and
dumb asylums, appear to be proper subjects oi
State bounty, because their objects are of pub
lie Importance: and 10 he useful, and well and
economically managed, il seems TO be necessary
that they should be more extensive than would
be required for the wants of a particular coun-
ty But in our system, ordinary local charities
are ielt to the care of the respective localities.
and to give the public money for their support
is really 30 tax the inhabitants Of all the coun-
ties for the benefit of one.
The national taxation is heavy and must
probably be made heavier, and the local taxes
authorized by unwise legislation and paid by
our people are excessive, gInview Of these cir
cumstances we should endeavor to avoid IN
crestsing their burdens by making undue appro-
priations for any purpose. s.i (. s...zs--1
1t besg alleged that the Atlantic and Great
Western railroad company has not in various
particulars obeyed the laws by which it was in
corporated, the Attorney General ton the sug
aestien Of parties, claiming 10 be Thereby injur
ed) has fled an information in equity agains
that company, seeking injunction to preven
a continuance Of lis past, and the persistence
in it's intended illegal course.
Since my last annual message the report
OF John A. Wright, Esq, that the SnnburJ
and ELe railroad was finished, | ordered thu
bonds remaining in the treasury to bs delivered
10 the company.
1t is subject of just pride to the people o
this Commonwealth, that this great work i
completed and whilst ii opens large and veal
thy part of the State to the commerce Of tn
seaboard, and untcs capital and enterprize with
In our borders, it secures to the Commonwealth
the payment OF sums due her from the company
In my special message Of Both April last, t