New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-01-10
ALAB4MA'S BONDED DEBT.

REPLY OF THE COMMISSIONERS TO TIE NEw-NoRK
BoNDHOIDERS-rHEY ADHERE 10 THEIR pBoPO-
sITIoN AND EXPLAIN IFS NECESSITY; -. ,..,o r,ort.
From The diGbGmd C0tiat,0Dhtrs R,pty 10 me AeP-lWh
We appreciate the tone and spirit OF your
communication, and when you and those whom You r. ,
resent discover the into which you have fallen III
your estimate of the resources Of this stale ap TO
the payment Of interest on o bonded debt you VIII We
confident recede from the position yon nave iaAch
and without Hesitation accept tEe proposition Ncn W.
IN good fah nave SUI llitttd 10 thc houclH OF c -
and per cent bonds. as not only lust aud honorable
The apprupldtlnns % pubic schools thliho, po ~" -,
than va ESQ, unless to present low rate o interest or
Inc fund should b. reduced, which YOU as tue
friends OF education, would haIdy Ahyisr lh1 tpiot
tuition makes ii the duty of the General Assembly 10 az
propraie AT least 100000 for The support Of pubic
schools IL may be enlarged but gun0t ne diinlsn'n
To this must be added about 100000 for interest on
l6;h section valuecss 10th aud United states surplus
Fund; 81 600 10 pay interest the University Fund
and $40 10 pay interest the Agricultural ana Ne
arise from donations made by the Federal Goycnmcni
the support of public schools and with lie direct ~
pose. agg ceao s2ii $50. DO you advise atepudalon
OF upon the Treasury Of the stated You quote
supp0ri pf oura-suinI thai Npcn" nI iIrH4'.
may DE limited 10 S265. 900. myt-ah alleged repor oI
tho Auditor 10 the late constitutional IonNtnho;; 80 40
this 10y having seen letter OF Auditor smith lnst
before the NovcnDer election, IN which 10 stated thdl
under the Constitution the State would save about
900 900 Annually. Tli, saving a. stated 10y the AuuI
Consist OF several itcm.-inOst 81 them prospective III
thcir operations. Biennial sessions Of the Legislature
NOT commence before November. ISL II" shai's
OF state Ollie cannot be reduced uuil Their terms
Office Yc. The Judges and CIuccllrsi whose haairn
amount 10 500 900 annually. elected IA November
Is7I Tor years. and all other O VII receive the
salaries now fixed by Law until November next 20 YOU
viii that prospective rctrcnchnen ais nclnnS
g. present state purposes. Nheh you d"'
tho various amounts which necessarily take prcccdenc,
over the PAYMENT OF intcr 1t he bonded debit GU VIII
mad that they a,grc gate about $3.50, I,3 t. WI:
Appropriations 10 public schools ......--... 2ii-sO
Interest ON state obligations. ol'-O'
ro,,, .......................... sss5 ls3
leaving only S2l 500 10 be applied to tine payment Of
Interest ON The bonded debt OF to be- used ior ~ least
year IN the payment OF state ohi!-ton- TINS small
aancc based upon your estiai- Of the annual rev
rne say sd .3f6, ana upon the ascctaned dIsbhrsr
nehs OF The past fiscal year. which cannot be dlmln
isLed but may unayOdahy be increased. Ia no
event therefore do any prospect of reducing the
expenses OF the STATE during the present fiscal year
below the amount expended FOR the year tnains JOth
-cpicm rr last
our plan To devote whatever surplus there may be-
Tor to the reduction OF tie amount % STATE
obligations iu circulation. Hence the provision III
our proposition that ID" nrs payment Oi interest on tc
new bonds deferred until lst Jluuir!, 1871; aud .,
cannot hope toietirU more dian f-uuVuV annually nI
five years propose the low rat" of interest Oh tie
bond. for that period knowing thai the State cannot do
more. - Very respectfully, gro. :: iiousION'
LEVI W. IANILk,
4. b. BLGHEA,
Comm sslOEcrs.