Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1865-01-12


Interest certificates
deemed. ................ SCI AZ
The fiscal year accounted for in the state
ment of the Treasury Department embraces
the time from the lst of December, 1868, to
the 30th of November 1864. The sinking
fund year commenced the first Monday in
September 1863 and ended the first Tues
day in September, 1864. This will explain
the discrepancy between the statement OF
the Treasury Department as to the reduc-
ton of the public debt of the State, and
the statement embodied in the proclamation
relative to the sinking fund.
Amount of public debt OF
Pennsylvania, rs ii
stood on the 1st day OF
December. r........:... S39, ,496, 500 78
Deduct amount redeemed
at the State Treasury
during the fiscal year
ending with November
80 1864, viz;
Five per cent. stocks. Sl04, 722 IS
stocks. ks.........i...... 1000 90
Interest certificates 227O ll6 992 "a
Public debt Dec l, 1864. s39,379, 6O3 "a
Funded debt viz :.....
Six per cent. leans, ordi-
nary s4OO, $50 90
Five per cent. loans, ordl-
nary. So, COS, ,263 72
Four and half per cent
loans, ordinary ....... 25S, 200 90 &C. 264 094 "
Unfunded debt, viz:
Relief notes in circulation 97,25l 90
Interest certificates out
standing ............. 1906 81
Interest certificates nm
claimed ............. 4, ,44S rs
Domestic creditors
tifcates ........... 724 80 lis, q
SO, ,379, 1898 81
Military loan, peract 18th May 1861 100000 90
Total public debt December l. 1864 s39 379, 1913 "a
The Commonwealth holds bonds received
from the sale of Public Works amounting
to ten million three hundred thousand dol
lars ($lO, 300, ,OoO), as follows:
PENNSYLVANIA Railroad Company bonds sc, 500, 600
Philadelphia and Erie Railroad Com
pany bonds. Observation-Disclosures. 3oUo,uOu
SO, 800, 600
These bonds are in the sinking fund, and
reduce the public debt to $29,O79,6O3 "a.
The tax on tonnage imposed by the acts
of 30th April and 25th August, 1864, has
yielded something less than 5000, ,000--a
much less sum than was anticipated. |
recommend revision of these acts, for the
purpose of rendering this source of revenue
more productive and amending other de-
fects in these bills.
The revenue derived from the tax on
! banks during the year amounts to $539, COG
81, but under the enabling act of the State
so many of our banks have become national
banks under the act of Congress, that this
source of revenue may be considered as
substantially extinguished, and it will be
! necessary In some way to make up the de-
! ficiency from other sources. The act of
Congress authorizes the taxation by the
State of the stock in the national banks i'll
the hands of the holders, not exceeding the
rate of taxation imposed on other similar
property, and part of the deficiency may be
thus provided for.
The amount of debt extinguished by the
Sinking fund during the year is unusually
small, which is to be accounted for by the
extraordinary expenses which have been in
Cured. Seven hundred and thirteen thous-
and dollars (S713,000) have been paid to
refund to the banks the money advanced
by them to pay the volunteers in service
during the invasion of the State in 1868.
One hundred thousand dollars 600, 0,000)
have been distributed among the inhabi-
tants of Chambersburg suffering by the
rebel destruction of their town. About two
hundred thousand dollars $500, ,00O) have
been expended under the acts providing for
the payment of extra military ella ms, and,
Ill addition to these extraordinary outlays,
the amount appropriated to charities was
last year larger than usual.
NO UNDUE APPROPRIATIONS RECOMMENDED.
The national taxation is heavy and must
probably be made heavier, and the local tax
authorized by unwise Legislation and paid
by our people are excessive. In view of
these circumstances, we should endeavor to
avoid increasing their burdens by making
undue appropriations for any purpose,
DONATION TO LOCAL CHARITIES.
In my opinion this matter of donations
to charities is fast running into great
abuse. Houses of refuge, and insane, blind,
and deaf and dumb asylums appear to be
proper subjects of State bounty, because
their objects are of public Importance; and
| to be useful, as well as economically man
aged, it seems to be necessary that they
should be more extensive than would be
required for the wants of particular coun-
ty. But in our system ordinary local char
tiles are left to the care of the respective
localities, and to give the public money for
their support is really to tax the inhabi-
tants of all the counties for the benefit of
one.
RAILROAD MATTERS.
1t being alleged that the Atlantic and
Great Western Railroad Company has not,
in various particulars, obeyed the law by
which it was incorporated, the Attorney
General, on the suggestion of parties claim
ing to be thereby injured, has filed an in.
formation in equity against that company,
seeking an injunction to prevent a contin-
uance of its past and the persistence of its
intended illegal course.
Since my last annual message on the re-
port of John A. Wright, Esq, that the Sun
bury and Erie Railroad was finished, or
dered the bonds remaining in the treasury
to be delivered to the company. 1t is
subject of just pride to the people of this
Commonwealth that this great work is com
pleted, whilst it opens large and wealthy