Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1875-12-23
The State Financial Outlook

king should die who then would be ruler ?"
1.-THE jack
The State Financial Outlook.
The Richmond Whig says official documents
present the following outlook, On the lst of
October 1874:
The balance in the treasury was 1872 1911 70
Amount borrowed from banks, SC. $50 tOJ 90
Receipts from ali other sources
during fiscal year ending Goth
September, lS75.."...."...."."... 24l7 100 IS
Revenue, including tax assessed
on licenses in 1874, less cost of
assessment, collection and dein-
D quents ....;..."............. 81 ,7SS, $50 Al
Receipts from other SOURCES than
taxes on property and licenses 679. 25l So
S2,4l7,79o 05
Interest annually due on sll sc.
counts, per Governors message. 50, OBS. O3b "a
Amount of interest paid last year
on all ccounts................... l4l1345 Ill
Showing deficiency to be provided
for ............ S6l7, 69l 90
The Auditors estimates for the present fiscal
year:
Total net revenue for the present
FISCAL year".... ...... 81, 13S, 53S ~
Hs'iha'eo current expenses..".... l,0OO,UOO gu
TO be applied to interest and to
any outside or extraordinary ap-
OBSERVATION-DISCLOSURES. S73S, 533 d
lfall be applied to the payment of interest it
would be equal to not quite "a per cent. on the
debt
Thetull interest on which is... s. 1875, 1874 81
Amount after payment of current
expenses applicable to interest,". 73S, 53S Al
Deficit in interest account for pre-
sen! current year, to be provided
tor by September SOth, 1870. ST, 296 1877 81
The Auditor estimates the annual
amount needed for current inter-
est NJ per cent. at............... 81 200 900 90
Estimated amount applicable to
interest. ......... 7ss 5ss A.
Dedclt..".."". ACKNOWLEDGEMENTS. $4Gl 46l SO
These estimates are based on the existing rate
OF tax, Oh cents on the 800 value of land and
property upon present values, including licenses
The roasseSsment OF lands now in progress,
and to be concluded within this current year,
shows large reduction in values, $50 great rs
seriously to all C! the revenue Of another year"
says tho Auditor. This reduction, it is thought,
will certainly not BE- loss than ~ per cent.
The assessment of rnal estate in
1914 Was. S21S 1856 t3S 10
~ per CT. reduction III VaIue.... 5OG97, III W
Which reduction in values 1t the rate of so
cents in the 500 value will lessen the Auditors
estimates of receipts from taxation S253, 4sG %
and tho surplus applicable to interest and To
outside appropriations will be reduced from
SI3S, 55S Al 10 S4S5, 052 AZ, and the Governors
balance will be raised from SGT 69l % to 1871,
III 49, and the deficit in tho interest At per ct.
per snnum will be increased from $4G, 46l SO
to S7l4,9i7 IS.
Now as TO the debt. Of this there arc two
classes, ono represented by bonds with coupons
receivable for taxes, which are known rs con
soils. the other class with coupons non-receiy-
able for taxes, called ''peelers." The "cunsols"
represent the funded debt, the ''peeers' the UNI
funded debt. The peelers are So called because
they represent that portion of the debt funded
after the repeal Of that provision of tina funding
bill authorizing the issue of bonds with the coli-
pom attached receivable for taxes. The consols
amount to $50, 2231 ,0l5 80, and bear per cent
interest," It's coupons being receivable for taxes
the peelers to So, 40 IS.
Revenue estimates from present
nScal year .......................S ST. 1873 5,S AZ
Amount Walcn may be paid in
coupouS..... Observation-Disclosures. l2!422l 90
Balance after receipt of coupons
1or interest. Observation-Disclosures. 524 BIT So
Amount required for support of
government ........ ........ 600 600 90
Deficit in amount required to pay
current expenses...... $475 682 Al
with entire amount of interest upon ''peelers''
left unpaid.
If the Second Auditor is correct, and onlv
about $500 600 of the coupons will come in an
nually Tor taxes then the balance, after paying
"consoP' interest applicable to the payment of
Current expenses of the govern
ment. would be...... .... 1888. 53S AZ
Leaving an annual deficit Tor tina.
purpose OFF,. ACKNOWLEDGEMENTS. 16l,4 6l SO
S1,OOOoOO 60
Leaving unprovided for ''consop'
coupons unpresented. ............. $3t2, 220 "a !
Six per ct. interest on peeleIs...... $50 Dt4 IS
Deficit in meeting current expenses Isl, 4 i So |
Probable total ...... Sl,O3O345 50
Putting the "peelers'' at per Ct,
the total deficit will be............ S844,77T 81
We present these figures to the Finance Com
! nlttee That they may ponder them during the |
holidays. Gloomy as they are, we must meet |
mem face to face" How, we will consider |
upon their reassem5lage.
The ancients did not have the cravat. This
important feature of gentleman's toilette,
this strip of stuff which costs him more trial |
and trouble, more primping and patience, than
Oil the rest of his vestment, was an invention |
Of the Croats. They were first worn at the
French court by some officers just home from
Germany. They became the sensation Of the
court and the saloon. Statesmen, cou,tiers,
beautv wisdom and pit uara ot