The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1869-01-08


Governor informs the public that dur
ing these fifteen months just $2, ,414, SIG
a of the State debt We're redeemed.
This proclamation is made the occasion
of much boasting, on the part of the
radical press, concerning the wonder
ful financial management of radical of
ficials in general and Governor Geary's
administration in particular. OF
course the rural Caffres" who dom t
stop to look beneath the surface, but
imagine that everything is gold that
glitters, are in ecstacies over the state
ment made in this proclamation. Our
readers will see its hollowness when
we give it this slight puncture with
our pen.
The Sinking Fund was established
just ten years ago, by an act of the
Legislature (see P,a'don's Digest, page
ga which provides as follows;
"For the purpose of paying the pres
ent indebtedness and the interest there
on, and such further indebtedness as
may hereafter be contracted on the
part Of the commOnwCal the follow
ing revenues and incomes are hereby
specifically appropriated and set apart,
to wit: The net annual income Of the
public works that are now, or may
hereafter be owned by the common
wealth, and the proceeds Of the sale Of
the same heretofore made, and the in
come or proceeds of sale of stocks own
ed by the State, and all revenues de-
rived from the following sources, to
wit:
From bank charters and dividends.
Taxes assessed on corporations and
all the sources of revenue connected
Herewith.
The tax on taverns, eating-houses,
restaurants, distilleries, breWeries, re-
tailers. pedlars, brokers, theatres, cir
cuses, billiard and bowling saloons, ten
pin alleys and patent medicine licenses.
On theatrical, circus and menagerie
exhibitions.
On auction commissions and duties.
On writs, wills, deeds, mortgages
letters of attorney and all instruments
of writing, entered of record, on which
a tax is assessed.
On public officers and all others on
which tax is levied.
On foreign insurance companies.
On enrolment of laws.
On pamphlet laws.
Un IUans vi uIUuey at iulcI u.ot.
All fines, forfeitures and penalties.
Revenues derived from the public
lands.
The excess of militia tax over expen-
ditures.
Militia tax.
Tonnage tax paid by railroads.
Escheats.
Collateral inheritance tax.
Accrued interests.
Refunded cash, and all gifts, grants,
or beque8ts, or the revenue derived
therefrom, that may be made to the
State and not otherwise directed.
The receipts at the Treasury, from
the sources above enumerated, were,
for the year 1867, $5,O2l, l,232,01. Dur
ing the present year they have been at
least as much, and doubtless, largely
in excess of last year. During the fif-
teen months for which the report of
the Commissioners of the Sinking
Fund is made, the receipts at the
Treasury from the above mentioned
sources, were not less than Sc, $50, 100000
We refer to the statistics Of the Audi
tor Generals report to bear us out in
this statement. Now, let it be borne
in mind that the law requires that ev-
cry cent of the moneys received at the
State Treasury from the above-named
sources, shall 90 into the Sinking
Fund for the purpose of paying the
State debt. Hence, during the fifteen
months ending Nov. Both, 1868, there
were in the Sinking Fund
Applicable to the payment
of the State debt S6,2j0, ,OO0.O
Amount ofdeht paidduring
that period 2,14, 4,816.7i
Not applied to payment Of
the debt $3.50, 81
What has become of the 50, ,S35, 1S3. 81
received at the Treasury, payable to the
Sinking Fund, and not applied to the
extinguishment of the State Debt? l.
the Sinking Fund robbed of millions
of dollars annually to defray the ex.
penses of the government, and to make
the people believe that their taxes
| have been reduced
Before our Radical friends indulge
in further Boosting, will they please