The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-05-06

CITY FINANCES.

i. LOCAL MATTERS. !.
7 .,.~ CITY FINANCES. r-
The Council at late meeting received q
report Of the Committee on Finance On: the
condition of the finances Of the city, Of
which, at the time, we were able to obtain
only an incomplete summary. The report
has been printed, and latterly corrected,
and We give below adequate extracts:
The report shows the whole amount paid
into the Treasury during the last fiscal year
to have been $3.50, IS, and the amount
of disbursements to have been S678, ,146.66,
leaving balance of sl2, 2,5S4.99. Of the
receipts, there were derived from
Assessed taxes for 1857, s277,ois.os; assessed
taxes for previous years. S5a o5o 81; water works
"a o9sls gas works sl5s ss!ls mi markets 81
rary loans. ss5 900 Bills receiSabIe si2 SIS
hospital, $40, 1855 Shockoe Hill buryins-grotmd,
tne a city, - Oes45 POLICE Sl0beG culvcrts, 81
200. 90; rents, 81, O32 81: fines and forfcitrcs, 81
$780, 81 shows and exhibitions, -, 4 billiard t,-
bles, S5o5.2O wagons, drays, hacks. &c, 50 1885, L.
miscellaneous sources of revenue, s6 255 81; cash
on hand sst january 1861, Sl2, 1914 six per cent
certificates, ST. 400: discount and Interest, $lL-
34i.5o. Total. $780, 731.65. .'
Of disbursements, there were paid
PAYABLE, $23 4l4 IS temporary loans, $50 600 DIS
count and interest s9Sl. 6s gas works $ll GIG: o.
wF water wcrk I'll Eri4ges Sies
department s95, ~ 30; fire department. including
j. e for c poor 5oSa hands cS aad
carts, Sa,367.os; alms-h0use building SIS, a3o:6o,
Sriry scRoos D%s!d s
school. 81 oOG.47; Shockoe Hill burying-ground,
S6Sa.46 !: Improvement of James river, $50, 76O.a0;
city JAIL Sl15.67: hospital 50, 1912: chain-gang,
81, s20.57; 0akwood Cemetery, s2:os6l5; CITY
grounds and buildings, 81, 1856; jury service,
s3,O77 officers of Hustings Court, So 26s so; sea-
gent fund 81, Soe 50 miscellaneous items, 81. So
Total, $67s l4G Co. Balance in the treasury on the
Isl day of February, 1865 Sl2, 5Sl.oo-S60O, 1876
The report then gives the estimate of the
Auditor Of the disbursements for the fiscal
year closing with the 3lst of January, 1869.
They are put down at 1915, ,ll3.4l; while
the receipts from all sources, except such
taxes as may be assessed by the Council for
the year, are estimated at S575, 1l34l.
The report urges the necessity Of the erec-
tion of the new reservoir, recommended to be
built last year, us soon as the money can be
raised without sacrifice to the city. The fol-
lowing items of the report being Of some i'm
portance, we give them in full: H..
The bonds or six per cent. certificates, what Is
more commonly called the funded debt Of the city,
was OH the st day of February 1868, 81 os5, 352
of which S202 5GI.67 has become due and remains
unpaid; and SIS, 2i7.o3 is still due for interest.
Six thousand eight hundred aud fOrIytlrce dollars
and seventy cents Of said interest was due prior tn
January Isl, 1861 and by order of the Council has
to be funded and Ss.a0l.23 due since JANUARY l.,
1866, which has not been called for, and remains
unpaid.
The city owes Stewart, Buchanan 4 Co. $40 900.
divided III ten notes of 81, 900 each. dated in Janua-
ry lsSl for the purchase Of sat ana ns29c 70 ias1
and due on 2lst of May next, for ST. 05s.3.. Also,
5000 e32. AZ city notes issued under an ordinance OF
the Council dated April 10, 1851 remaining unrc-
deemed, and 2d5 I53 small notes issued by reso-
luton of the Council dated April H. lsG2 yet unrc-
deemed; making the aggregate of small notes
Si75. lOi.35; which includes the entire ndchtc!nGSs
Of the city, except some few outstanding bills for
materials for the gus and water works. and work
done upon streets, &C.. which is supposed not to
city, which is demanded, but the city refuses TO
pay for liquors destroyed about the time oi the
surrender of the city in 1855, the amount OF which
has not been ascertained, and is now before the
courts. ..tr.# III st..s .. -.
The Council has by resolution. authorized the ap-
propriatiOn of two millions Of dollars III bonds to
the Chesapeake and Ohio Railroad Company. No
bonds have been issued. not having been called
for and it is not known by the committee When
them should be called for before the first day of
July next, 1t Will become necessary to make ar
rangements to pay the interest the LIST OF January
The Committee feel gratifcd in being able to
state In this report that the debt of the city Is less
small note issue. At the commencement OF the
fiscal year 1867 the funded debt was 81 o52 osa Y
bank and floating debt at that time $50, $40. 90
making the aggregate OF 81, 1872, $685. February
lst, 1865 funded debt, So Os5 352.72; notes, open
accounts &C., S34, 3O0 25-aggrcSatc indebtedness,
except small notes and appropriation to Chesa-
have not been issued for 81, ll0 G5s. less by
ST. o53. 10 than at the commencement Of the fiscal
year 1867. The committee would recommend y
reduction in the taxes, and the raising of some of
the money needed by sale of ONE real estate
owned by the city, If the real est', market was Was not
would be attended with toe great sacrifice, and
therefore best to raise the amount nC ,ded by taxa
ton. The assessors have not yet finished their
books, but the committee have bccI+ informed Dy
the principal that the real aud personal property
will amount to about twentH-seycn millions.
Taking this as, 4 basis, the committee have no
ducton of the taxes for the present year. There
fore, having doubt that 1t is the purposeof the
In good faith the committee are constrained to say
that the present rate of taxation cannot be reduced
unless the Council will determine at once to reduce
expenses and stop appropriations (Which the com.
nittce most urgently reconmend), or raise a part
of the money needed in some other mode than by
dence that the people of Richmond will meet any
demand which may be made upon them which is
necessary to support the honor and credit or the
city. ..,..e.. {.
In conclusion, the committee fully ex-
plain the difficulties existing in raising
money, the reasons for not having reported
new tax bill, and the necessity for in
creased taxation within the past two years.
Accompanying the report is the follow
ing table of the funded debt Of the city:
The Funded Debt qfthe City February lst, lsea and
49,, ! dates. 1olte1t due.
PAYABLE Nav lst 1852 $50, 600: January Ist, 1870,
S5s I50 july 1st 1870 S22l 2O1; July 1st, 1874 S. 600;
ly lsf 1875 $40 sO0: July 1st, 1876 Sl2 500; July
LIST lsi7 $50 0OO July Ist $780, $5a GOO; August 1st
Isso $40 900 january lst, 1881, $2T ESQ July lst,
1ssI 800 600 July Ist 1882 $50 600; July lst 1889
S5o 600: January Ist 1881, $2l 600 July 1st 1884
lo s37: July lst 1885 $50. 600: July lst 1887 $685.
0OO: July lst 1885, SlD, ,43l. so: January lst 1889,
So5i PCS 55 January 1st $780, SIS 900 July ls 1890
S5O 600 july 1st 1901 $50, 600; bonds issued and
sne and unpaid $2e2 5ea 81 bonds issued by order
of the Council since january! 1886 to pay interest
due prior TO january, 1885, and then unpaid Sl5i
750. Total s., ,o35, 35s. Y. 49,
f Also, condensed list Of city property
prepared by, Engineer Gill, which gives the
grand total valneas 81, l,634, ,O83.5S.
BIC 5AspARaGUs.-Ae bunch of the tallest
gasnaragus WINS sent to our Office yesterday
by Mr. RIM. Thorn. q Placed in the win in
dow, it attracted q good deal Of attention.
.rlKvD, Narh,,rn hna hcnn