The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-01-04
LOCAL MATTERS.
The Public Debt or Virginia. Es7

The Public Debt OF Virginia. Ers
The Second Auditor has laid before the
General Assembly most interesting state.
ment OF the public debt of Virginia onlst of
January, 1871. In introducing the state
ment the Auditor recalls the fact that the
interest due on the public debt on the 1st of
January, 1866. and on the 1st of January,
1867. was authorized by an act passed on
the I'd of March, 1896, to be funded, bear
ing six per cent, per annum interest. I'm
der this act much the larger portion Of the
interest due at those periods has been fund
ed. On the 21st Of March and 23d of April,
1867, acts were passed to provide for the
payment of two per centum interest semi
annually upon the principal Of the public
debt, excluding therefrom the bonds given
for interest on said debt under the act of
March 2d, 1865, such payment to be con-
tinued until otherwise provided by law.
The interest, as directed by these acts, bias
been paid from January 1st, 1867, to Janu-
ary 1st, 1869. as demanded, and none SUBJ
sequent, because of the deficiency of funds
the debt on which interest is authorized to
be paid under these acts La s31 ,939. .I44.59.
The total amount Of the debt, including
interest. on the 1st of January, 1871, will be
$47, 1896, ,839.96. In this the stocks and bonds
of the State held by the Board Of the Liter
airy Fund, amounting to 1,54s,ees.s5, are
not included.
"The inquiry Is sometimes made" says
the Auditor. "by whom the debt of the
State is helds OF course only conjectural
opinion can be expressed on this subject,
but it may be estimated that of the regis.
tered debt about twelve million dollars is
held by citizens of the State, and the bal
ance, about sixteen million dollars, by citi-
zens OF the State and by foreigners. The
coupon debt, amounting to about nineteen
million dollars, Is held by citizens out Of the
State and by foreigners"
The subjoined is statement of the pub
lie debt, issued under acts prior to the 17th
of April, 1861. It is particularly interest,"
| ing, in view of the present discussion In re-
lation to the liability of the State of West
Virginia for the payment of part Of this
debt: t.- .
Six per cent: registered bonds. .s2l e17,5:s 40
Five per cent. registered bonds ...... $1,000 90
Six per cent coupon bol1s .....,,, H. 1oB 900 90
Five per cent sterling bonds fs7s ,ooU l,ssS 900 90
ss.s SIS 40
From this sum should properly be de.
| Quoted the following:
Bonds h Id by the state In
| the name OF the sinking
Coupon bonds lest at sea '''A' ~
in the steamer Arctic. IL, 900 90
l. Fl, sN Sl6 &6
To be deducted, also:
| On count Of bonds SUR ..
| rendered for the pur-
| ch Lee of the Blue tldge "
| railt0ad, and cancelled. 40l7l8 S5
| On account Of redemption
| OF Loan TO the Virginia
Central Railro ad oin-
| p'ny Of Sol0, coo, and In.
tercst. due thereon,
| amounting to $3.50, 100,
| which Is tn he cancelled
| when acted upon by the
Board of Public Works $50, 400 90
On account OF The pur-
| chase oy the RicHmopd
| and D.nrle EaiIIoad
Company OF 800, 900 OF
Stock held by The state
| in said Company y........ leo, 900 90
Glnoant 1f deductions - 81 7l5, ,43S 81
Amount on the 1st OF January, 1871. $751; o3s 1 50
Tat rest due thereon to the lst Of JAN
u&ry, 5slo, ,ls5 4a
| the Ist OF Janu iry. 1871. Ti....'~ ss7 $50 $40 %