The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-01-13
COLUMBIA. s. G.
Friday Morning, January Is. 1871.

State, its Eananeos and indebtedness.
The Comptroller Generals report is,
at last, at hand. There is no subject In
which the people Of the State aro moro
vitality interested, or as to which there
should be the most searching investiga-
ton and strict accountability than the
finances OF the State. There never has
been complete and satisfactory ac-
count. While tho public mind perceiyes
every day evidences of the most extrava-
CANT and continued expenditure, sap
ping all the energies of the people, and
the industrial resources Of the State, all
the accounts have been partial and oc-
oasional. The report, now furnished,
is too long for publication. 1t is doubt
less as favorable as could be presented,
but even as it is, shows condition of
liability and indebtedness, especially in
view of the present character of the
Legislature, which cannot but produce
the most profound thought and anxious
consideration.
The Charleston Courier has prepared
the following abstract of the report,
which will convey clear and intelligent
idea Of the present condition Of the
finances of the State. with its liabilities
and expenditures:
The first statement exhibits the debts
and credits of the State at this date,
exclusive Of those arising from transac-
tions connected with the support of the
recent civil war, and of State officers
who have held Office before and during
said war;" Reference to the statement
shows q balance against the State of
$1,774, ,003.11.
Statement No. 2 exhibits the receipts
and expenditures at the State Treasury,
during the fiscal year just closed, show
ing balance on hand at last report, of
$3.50, 1852. SO; total, 81, ,832, ,O13.40.
The sum total of expenditures during
the year, is 81, $50. s4O.82. leaving a ba-
lance in hand of 81, 172.58.
o. Statement No. shows that, Of the
above expenditures, the sum of $751;
008.86 was paid on accounts of expenses
which are properly classed as extraordi-
nary, leaving balance of 81, ,049, ,S31. SO.
To this amount must be added the
following sums paid by the Financial
Agent of the State, whose report was
delayed for long and unusual period:
Coupons (gold.) $279, 1885,; premium
on gold, 1884, ,362 SO; total. 1868, 491;
amount of balance alluded to above,
$1,049, 81. .96; making q total of 81, ,413,-
2.96, as the ordinary current expenses
of the year, including tho sum of $751;
360.44, paid for interest on the public
debt.
EXTRAORDINARY EXPENSES = Under
this head are classed S34,2l for fitting
up the State House, and $25, SIT paid to
the Treasurer for purchasing gold with
which to pay the interest on the State
bonds. The enrolment and organiza-
tion of the militia cost the State the
snug little sum Of $9O,344, besides
$4,000 for the purchase Of arms; md
on the same table is credited $540, ,293
paid to II. II. Kimpton, ''hnving been
returned to him" The sum of 81, 97O
was paid for fitting up the Governors
mansion.
ASSETS. s.-Statemont No. 5 shows the
assets owned by the State, consisting
principally of shares held in various
companies, and received in lieu Of ad-
vances made to such companies. These
assets, on the 1st of November, 1869,
the following have been sold, under the
provide for sinking fund and the man
agement of the same, viz: Shares in
Greenville and Columbia Railroad Com
pany, $433, ,96O; shares in South Carolina
Railroad Company, $4,000; shares in
South Western Railroad Bank. $G,O0O
Total, S463, ,960. Leaving on hand the
amount of 50, 290, 700.
FUNDED DEBT.-Statement No. 6 ex-
hibits the funded public debt on the 3lst
of October, 1870, amounting to 81, $685.
908.9S. Included in this amount arc the
fire loan 5 per cent. bonds, amounting
to S4S4, ,444. 81, payable in London, and
past due in 1868 These bonds are held
in Europe, and the Comptroller holds
that the assets of the Bank of the State
are liable, and fully sufficient, to meet
the payment of the same. There was
due also over 1904, 900 of fire loan stock
on the first of the present year, and the
State agent advertised to pay them.
RAILROAD LIABILITIES. These liabili-
ties acoruing by endorsement of railroad
bonds are classed under the head of
contingent" liabilities. It is the same