New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-01-11


This looks well, and gives promise of good
fruits IN the future, should no grecnback heresy
disturb the country. Against the aggregate
debt there are, beside, the balances OF various
sinking funds to be placed, which in all, amount
to $3.50 SO 81, leaving the actua CeDt uhpIo-
vided for $44,il4,502 50. The state has NJ un-
fuii1o1 or floating debt all Hquidated claims
being provided for in the annual appropriation
bills, and paid from tho proceeds OF the taxes
levied to meet them.
The general fund debt, which has not been
changed during the year. consists OF half
million Of AstOr stocks, nearly five millions of
deficiency loans, $4,000 Indian annuiteS, and
few small items. OF the principal only
$3.50 is payable this year, abOu. million IN
1870, 100000 in $780, SSOO,OOO in, 1878, ana
the nature and operations of the various sink
ing funds, and passes thence TO the bounty
debt.
This cheerful legacy of the great Rebellion is
In lce ss7 e4E in 1867. seosesOOO Reduction during
This debt is in s24,905, 900 of registered stock,
and 2,454 900 coupon bonds The bounty debt
reached its eliminating point on the 3Oth OF
September, 1866, since which time the claims
for reimbursement presented TO the Paymaster-
General, and audited by that officer under the
acts OF 1865, have been paid in CASH. 1t IS be-
Eeycd that all valid claims under these
acts have been adjusted, and that no fur-
ther advances Will be required. With
u
amount of nearly S4,OO0000, the payment of
the debt muSt proceed with great rapidIty,
and it must be distinguished IN 1884, unless eN-
tended with the consent of the holders. Inc
means for paying this debt are raised by tax
levied from year 20 year by the Legislature
This tax last year was mills; this year 10
mills viii ansWCT--a reduction OF nearly ~ per
cont Mr.. HillhGusc remarks:
The high paid oh the bounty dent rendering " q
iaHom1 " iII ~ ,1 r ~, ~ ~ the
sinking fund without advancing the price beyond what
Il would be PROPER 10 Pay Dt I'm il1fG TniTm glE d
siTable that should Dee paid Oh as last as pctcape OF
extended WIN he consent OF me holders ~ lover
Whenever 10 De- required. for less than seven per ceL
Its six per cent stocks have usually commanded
q premium. ana five per cent ISSUES have been taken
at par. The decline ia the pnce OF five and siS per cent
et0cks compared with the stocks II the National COY
bio tc fact That the latter are PAYABLE M cnin II has
not however, upon tie whole, been Disadvantage, since
q large a'H" d.. ' ''' So' ~ - I.s ii,n n.y. 80
was received i0 them when they were Issued Inc az
eragc premium paid for the bounty DEBT STOCK pHV-
chased Wa G. per rcnt. nearly. 60
The canal dcOt is S15. 733, OC0-two and half
millions less than in 1866. Against this stands
q balance in hand Of S3,2149l2, leaving the
actual debt at Sl2,5iS,1lS. As the canals are
always before the public, We need not dllate
upon their financial history at this time.
One of the most interesting passages IN the
Controllers report is upon local, OF town and
county debts. He says:
A. these local burdens affect tho sources Of revenue
equally with those resting the State at large, their
amount The annual rate at which they are being paid ~.
aud the time required fer ,hcr final extinction, qucs-
fions Of great Importance II appears that their total
amount at the date of The returns. dcducting the bal
in tie sinking funds applicable to lie laymtn Of
certain OF the city debts, Was SoeOo 20, c4ss- as
follows:
For bcuntles and war expenses. eo8.Tia 81
For roads and bridges. 45i6JS 50
For miscellaneous purposes 4255o'sN Us