The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-01-05
Public debt Nov. 30 1859. as above. .sa2sl4. .soNS

Public debt Nov so 1859, as above .s99, ,sl4 54OQ5
Reduction Of the Public Debt
At the commencement OF the present admins ra-
ton in January 1867 the total outstanding Indebted
ness OF the State was thirty-seven Million seven
hundred and four thousand, four hundred and nine
dollars and seventy seven cents. Since then, and
up to November 30. 1869, the sum OF four million,
eight hundred and eghty-nine thousand. eight hum
have been paid, and at five per cent, the sum OF
s244,4s344, in interest, is annually saved
to the commOnwealth Consequently, the total
SS mo%Realn on usss No1emser So as isss cUnl, %as
thirty-two millions eight hundred and fourteen
five cents
The reduction during the year ending November
90, 1869, amounts TO four hundred aad seventy-twO
thousand four hundred and six dollars and eighteen
cents
ASSETS IN SINKING FUND.
The assets remaining in the Sinking Fund are as
follows viz. Bonds OF the Pennsylvania Railroad
Company, six millions three hundred thousand dol
lars Agreeably to an act dated March 80, 1862 the
cations OF the Sunbury and Erie Railroad Company
being third mortgage bonds, to the Allegheny Valley
second mortgage bonds of one hundred thou
sand dollars each, making in all three
million million nv fye hundred nun; d. thousand dollars,
Company, and guaranteed by the Pennsylvania Rail-
| road Company, the Northern Central Railroad Com
panv and the Philadelphia and Erie Railroad Com
pany, payable to the Commonwealth as follows viz ::
The principal OF one OF said bonds t1OO OOO) shall
l. 1876, and SO c1ntinuing annually thereafter until
the said Of three million five hundred Thousand
dollars shall be paid, with interest thereon from
January |, 1872.
The citizens OF Pennsylvania have always borne
taxation not only patiently but cheerfuly and they
are still as willing as ever to contribute to the pay
ment OF all the obligations resting upon the State
but they expect their public servants who are en-
trusted with the management OF their affairs to act
upon the most prudent and economical basis. In
word, they demand reform I'm the management OF
the financial affairs OF the State and as far as pos
sble, the retrenchment or all unnecessary eXpend-
lures.
On the 30th OF January last, replying to @ resolu-
ton OF the Senate, said
have the honor to acknowledge the receipt through
the clerk of your honorable body, a COPY OF the
following resolution, passed the 18th inst
"Resotued That the Governor be requested to sabmt
plan to the Senate the State by
the accumulation OF large amounts of surplus funds in
tho Treasury.
reply beg to direct your attention my message
of January T. 1853 in which say the balance in the
Treasury might be rendered prod uctve by being invested
in the bonds Of the State bearing six INTEREST,"
and to the message of January g. 1909 where remark
they with safety and benefit to the State be employed
in the purchase of its outstanding bonds and saving
the interest them which would accumulate prior to
their maturity"
Since making these suggestions, and maturey delbe.
rating upon the subject have to change
my mind in relation thereto and submit the same
plan, specifically set fo th based the following
statement of the loans of the Commonwe ath. viz
Amount of due loans including bank charter loans