New-York tribune., 1875-01-26

leaye. balance OF S1oosias 90 on hand Jan. l. 1875
priston to paw the claim Russell sage. Tais oaim
amounted 20 s423,1SS and no means having oeen ~
cialy provided Tor its payment was sat neo ou o,
ordinary revenues which came into the Treasury anfnH
that year. The reported increase In the vhus m noo ooo
Sycp and ssoye the yaus repctsd for previous
This increase produced, In part W ~. ,rom taxa
tom Ba, srisr making full The repeal Of
TINS exemption re"rnSa rSa 1nS %g. %a
According 10 the statement presented by the Ireas
amdaed ae on jan is75 10 principal and
Interest due thereon the present year amonnt ~
Included in this the first nstalment OF tl0Oe OF he
per cent bonds issued under the authority OF the act
approved Feb l9 1873 The Treasurer states tha IN e
0 a pG d no osber with tHe unpaid interest
thereon amounts to $323400. II is suggested bV the
former agent OF the state and not returned 70 ,ne
treasury for cancellation IL should here he stateh tnat
the failure upon the part OF this agent to make sush re-
turn has produced serious inconvenience ana
loss TO the treasury. - cr.. 4
Co., the agent Jdst referred TO- We're conVerhx 70 "a
paid up bonds Of the State, and desiring 10 re-
eve tue Treasury from all complications growing VI
their transaetons as agent directed the Atcfrey
cral to proceed to NevYork 0ud obtain u pCSS'Oe,
settlement OF tGeir account with the State Up0n hls
return this ocer reported that ne found IL mp sslo "
effect a satisfactory settlement OF the account tnH W.
Clews positively refused TO permit an examlnauoh oi
books aud vouchers unless the account which ne nar
rendered against the State were nr
ton cond not he comned with Tne chief objection to
the account rendered was that many OF s of
those y6u hers IL produced would necessarily nave ID
voysd an inspection OF the books and papers OF tne
ISrney neral requested TO be furnished with lnorh
ton IN reference 10 the bonds which had goue n9 .n
hen Teurped by them TO the Treasury. THIS requesc
was also refused. II is rumored that tuls nrin nas
recently been adudgcd bankrupt, and II Us now hNpsu
iot satsfaetory information In reference TO the state
securities IN ts possession may DO optaineo ~ po
By reference TO the report OF the Bond Committee
made 10 the Legislature at me summer session Vt cd
void by the act approved Aug 9s, isT2 Henry Cews&
Co. hold Ss0Oo0 " currency bonds issued under no
withstandng the action Of the Legislature declaring
bonds invalid this agent has trdnsierteu OF ~
some other way converted the same 10 his own use'
To prevent the injury TO the public Interest key 20
result from unauthor zed or unawini neeouaton O
our securities would suggest that all tie Dohds IecoS
nzed TO be legal aud binding on the STATE fe1ed Iuns
the late Administration, be Withdrawn rom circuallon
tonor and Greet be issued lieu thereof Tbs acton
would IN my jud gment be beneficial 10 the pnble credit
Imposition aud fraud There being no reason TO
believe That railway companies, whose prop rty mas
been taken possession by the State for nOupaynent
OF interest will be able TO make any arrangement W
resume possession OF their property IIespecumy suE
cest the prnprety OF authorizing the ifsue or an
amount OF State bonds sufficient to redeem tue Oopns OF
the companies upon which the state Is ha9o, dneSe n
dorseJ bonds Will look TO she State alone ior lay
men' II is not probable; 'nt tH eiOre eIcbanSs
npon reasonable terms the securities held ny them LOT
state bouds. Respectfully recommend tne ad"pioi' "a
a measure giving elIeet to the foregoing suggebtlOns
The Governor estimates the receipts for the hsca
year ending Dec ST. 1875 Ut s5sS,62s Ss aud tho dis
! bursements at &409,5Ss.
He rehearses the history OF the construction and op
Grafton OF the several railroads IN the State ami Gays
Reelection has satisfied Inc that additional leglsatlon
is REQUIRED check the evils likely to now from tue u
wise policy OF granting the aid Of the State 10 worAs
oy internal Improvement Experience has SHOWN thst
n Is amot Impossible to guard the public interest go
~ Irevcnt injury the under these grants IHe
larger portion OF financial troubles OF late ycars
may Ge traced directly to this misGhleNouS pohcy'