The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1873-01-16

ton from that body requesting him to give
bis views as to the best mode Of raising mon
~ to pay the interest on the public debt nd
defray The expenses Of til e State, &c. II is
an able paper, carefully prepared aud forci-
BILE in it's presentation Of facts and arguments.
The late hour at which it was received pre-
vents its insertion in our columns this week.
in full. The following brief summary will
give the general views of the message. Fur
Their reference will be made tosit hereafter
1t recommends the reduction of the principal
of the debt by the sale and application of the
proceeds Of assets Of the railroad bonds and
stock and non-productive property of the
State, by which the proportion of the debt
assumed by Virginia will be reduced to s26-
900, 000 the annual interest upon which will
be 1850 600.
It recommends certain changes and reforms
in the State government, thereby reducing
/ it's annual expenses to 100000. 1t recon-
mends the equalization and correction of as.
sessments and the more thorough assessment
of personal property, by which the total as
| ty will reach four hundred millions the an
nual tax upon which will be two millions
| The tax from other sources is estimated at
$500 coo, making total revenue Of 50 500
900, of which 100000 is to be appropriated
to schools, leaving balance Of s. 400 900
available to pay the interest on the public
debt, and pay the current expenses of the
| State government.
Tie Governor says the interest upon the
bonds funded under the act Of March 80
1871 thai is, the funding act, must be paid,
aud no mode of avoiding it can be devised
even If we desired it. He shows that the in.
terest due and unpaid on these bonds on the
lst Of January, 1873, and that which will
fall due by the LIST Of January, 1874, will
amount to nearly s. soc, 900. which amount,
added to other Indebtedness falling due du
ring the current year, makes a total of over
81, 260 goo to be provided for BY the first of
January, 1874.
The Governor concludes by saying that
his opinion has been deliberately formed,
and every calculation and estimate carefully
| made, and if his recommendations are adopt
ed, every result will be realized.
%-
The State Debt.
The Richmond Wing, Of the l0'eh furnishes its
readers with statement of tne Public Debt of
Virginia, furnished by the aIdi,or Of. che state
We transfer it to our coldmns in order ihst N
who feel like informing themselves on this sph.
ject. may have the opp ortunity
Public debt OF the STATE Of Virginia exclusive of STOCK
and bonds on tie State heongiag the Literary Fund
amounting to 81 ,543Desa5l Sf
PaIN aR4L, MAsefs s0th 1871
Issued under acts passed pgi-
Or to Eth AZ ill ISL. $751; 4a7 1890
Issued under act I'd March
| 1866. authorizing, d ue
| January lst 'e9 and '67,
| TO oe fundsd bearing
| interest," 6576o1s6o
| ---- sasol4,ae7 %
| INrEaEsr TO JULY l. 1871
! On deat issuei under acts
passed prior to 18th april
Prior to aes of 81. March
I 1866 s.sA3,s5to4
----~- S. s9a.cz1 e5
s46,sa421s 3
Amount funded in ooapoM
bonds under act aoth
Il March, 1871 6 15.Oqo.S10
Ditto as amended by set 7th
March, 1872 1910
---- si5,54ssoc
Ditto funded in registered
bohds convertible
coueeas receivable for
taxes, s5,lss.230.0T
Diasa act lth March, IA :3i32l52
----- 5.527. 7Gt IS
The actuaf expenses OF Government, OK
elusive OF interest Public debt rom
October / 1871, to October 1872 s 1,55a,ao7. Is
1.-The present assessed value OF real estate
lsa 2el.4l1 las 80
The present assessed value of Personal
property 1872 1880 40 /
inc present sessed value ofinconle 1872 329n9s07S
NO Whlte males taxed. f6T2 1Ia3lf0
70. eolofed fiales taxed, 1872, 9I,S5500
Amount received frotnssou other than
tax OF 90 cts. on SloJ vaue from October
!, 1871 to October l., '7a 5Ia, 2s8 81
Amount of money in the Treasury to the
credit Of the Commonwealth, January
ist 1873, 65a eos M
Amount of interest the public debt at
4per cent, due and payable on the 1st
4 january, 1878; she expenses of Govern
ment paid to LIST January, 1879 400 9o2 40
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/ S258 1859
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