Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1874-12-04


sioners of he Sinking Fund:
The amount Of debt September 30.
1874, Exclusive of bonds and certif-
cafes held by the Literary Fund and
the Sinking FUND.- ,95i,0l0 IS
The debt as reported goth September,
1873. S30,iI3.74l ~
But from this is now de-
Quoted bonds purchased
by commissioners of
Sinking Fund S499 $3.50 II
And by Board of Educa-
Observation-Disclosures. 2,lO0 90
- 52l.73N "A
Tn. amount Of tax-paying coupon
bonds issued to this date PSI 100 90
And registered bonds and fractions
which may be converted into such
bonds 2957 ,915 So
Residue of the debt funded and that
which may be funded into bond. not
receivable for taxes............... s9,7l7,994 IS
The amount Of deferred interest over
and above that provided by law 10
be paid, for which .n-interest bear
ing certificates have been and may
be issued ard for which no pro.
vision has yet been made by the
General Assembly, observation-disclosures. 81 S2S,12i IS
Amount Of ta1-paying coupons, in
Guiding those of July, 1874, outstand
ing this day, at face vaiue, is ...... l7.5o5 o"
The portion OF the debt recognized by
this State due by West Virginia,
in certificates issued and to be issued
Of July /, ISL is............... l5.239,31O Is
INTEREST.
By act Of April %, 1874. the Governor, the
Auditor Of Public Accounts, the Second Auditor AMI
the Treasurer were constituted board charged with
the duty Of determining when, in their judgment, the
condition OF the Treasury would warrant the payment
OF the interest payable on the lst of January and st
Of July, 1874, at the rates paid for the last two
years, avng regard to the surplus in the Treasury
AID the accrung revenues, and the amount necessary
to the support of the Government.
We commenced paying the January (lS74) interest
on the lst Of July last, but the condition OF the
Treasury not warranting the payment OF the July
(lS74) interest, no action has been taken by the
Beard in relation it. 1t is believed that it will be
practicable to pay it on the lst of January next
No provision exists now for payment OF interest
for January and July next except to schools and col
leges and to the Board of Education.
1t will be that the interest to be provided for
on the public debt proper for January and July,
1873
Al four per cent. six per cent stock
and three and oue-third on the five
per cent. iS.......... Slleo,los 10
Under existing laws, lu interest TO
schools and colleges for next fiscal
year............... ........... 1922 50
Arrears OF interest due and uppAld At
this date at the rates prescribed by
law ................ S9,5l9 20
Total for next fiscal year..........S2.O9 t,1%0 -
LITERARY FUND.
The condition Of this fund is subs tantiay the
same as at the last annual report. large portion
OF the stock then held has been funded under the act
of March 60, 1873. The seven per cent stock held
BY the board amounting 1919 0n0 and the accrued
nteres, thereon to Isl of july 1871 $780, has
not been funded there being auth crit. in the
funding act for issuing bonds bearing than siI
per cent interest. 1t is treated, however, stock
funded at six rer cent,
Statement under letter represents in detail the
stocks held by the board, rece pts and disbursements
the interest, and other matters pertaining To the
subject.
II will be seen that the amount os stock
on which interest is payable is....... l,426255 %
Which, at the rate Of interest stated
Tor January and July, 1875, is....... S%,90T 81
To which add arrears of interest 10
date .................... ............. 5+,357 %
Making amount of interest to be paid
in next fiscal year. Sl"S.26o =
REcAPIrULATIoS
Of interest due, and that which will re payable
in the fiscal year at the rates stated under the
several heads Of report
On public deb, proper ................ s2.O9473o 10
IN Literary Fund Observation-Disclosures. l3e,2t5 ~
On Sinking Fund .................... 252,l39 80
Total. $2,4>5,l3i 81
deem il proper TO call attention TO
the fact that it will appear by refer
encc TO the annual report of the Sec
ond Auditor that lst October, 1872,
there was outstanding and NOT called
for balance of cash interest
Of V4,-io 10
lst October, 1873, balance
OF cash interest of........ ss0.059 81
And by this report. Let
October. 1874, balance Of
cash interest of ........ S9l SAG 40
nd il Is reasonable to expect that
about the amount will be in
arrcar the current fiscal year.
Assuming. however, that the balance
thus remaining in the Treasury
tine ensuing wear will be only....... $3.50, 900 OH
Il will leave the sum of............ $l,735l34 80
But estimating that million dol
lars Of coupons may come into the
Treasury for revenue, an addition
must be made to the above OF
third OF that sum for the difference
between the face value of such cou-
pons and the amount payable by
The above estimate 333 1873 23
Making amount to be provided for in
money for the current fiscal year... S2oos.+hs -
1t will appear that the amount o: tax
paying coupons past due, including
those for July, 1874, now outs:and-
ing at their face value, is.......... ShlI.ooo w
There Is no record in this office By
which it can be ascertained with any
decree of accuracy where our public
deb, is held, but estimate THAI
there is owned By citizens and cor
porations in Virginia, as funded,
about ................. $4,000, 900 20
In her States of the Union about. 900. 900 90
And in Europe about 100000 90