Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1881-12-23
THE STATE DEBT.


Messrs. r. II. Maury 6 Co., give the
important summary of the state
nent of Auditor Massey of the State debt:
From the report Of the Treasurer we
have the pleasing information that the in
come of the Commonwealth, Including a
small balance left over from the previous
year. $25 ,92O.47,) for the year ending Sep
TENDER 80, 1881, was $2,632, 345.s7, while
The disbursements were but $2,152, 02s.17,
thus leaving an unexpended and unappro-
priated balance in the Treasury of $780,
317.7O It will be understood that there
is included in these disbursements the tax
able coupons that have been paid in for
taxes, and generally all that mature have
been bought up and used for that purpose
and also the item of interest paid on bonds
held by colleges, 500, 1858, mentioned in
above statement of the debt.
The intelligent Auditor, MI. Massey, in
his report says: II had the pleasure of
exhibiting gratifying degree of improve
ssment and ease in our financial condition
Sin my first report-(t THAT for last year, 1t
It's exceedingly gratifying now to be able
ssto report the continuance Of this i'm
''provement, and to show that our financi-
''al condition is better now than it was at
ssthe close of the last fiscal year,"
He says that the amount of what he
calls regular disbursements-that is the
regular expenses of the State proper, [uot
counting the expenses of the schools or
the interest paid the bondholders-and 9TH
er incidental expenses, were $76l $3.50. But
it Will be found upon examining the items
which he gives as making up the sum,
that it includes that portion of the inter
est paid to the bonds held by colleges, that
1t also includes large arrearages and ad-
vancements paid, and other expenses, lsuch
as the penitentiary CHARGE which will not
recur, and therefore ought not to be con-
sldered a part of the regular expenses of the
government. These items, which we think
should therefore not be included in the reg
ular expenses, thus understood, aggregate
over 5000, 1000, SO that these regular ex
penses" did not exceed 1851, $50. From the
same report we find that the full school ap-
preparation was 1854, 672. Say for govern
ment and schools, ST. ,O66,322. Now deduct
this from the income, as stated by the
Treasurer, So ,632 ,345, and we have bal
ance Of 81 ,5e6,023, and applicable to the
payment of the interest on the public
debt, which interest as has been shown
above is but 81, sos, 331.
These figures demonstrate fully the cor
rectnsss of the views and estimates which
we gave last Summer, Of the probable ex
pense of the State. At that time, doubt
less for electioneering purposes, they were
challenged and denied by Readjusters, but
they are now shown, as above, to have
been actually less than we calculated. We
then estimated the expense Of the State for
this year at within $696,000; and taking
the disbursements Of the previous year as
basis of calculation, deducted therefrom
all debts charges and expenses which would
not recur, thus ascertained that the ex-
penses of Government and schools would
not exceed 81, $50 900. They have actual
ly been but s1,O66,332. We mention this
only for the purpose of indicating to our
friends with what weight our estimates
upon these matters may be received, and
of showing them with what care they are
prepared. Our tabular statement OF the
debt shows that the deficit of full current
interest this year was only about $3OO.0
and the Treasurer reports that there was,
at the close of the year, an unexpended
balance in the treasury of $4S0,317! And
yet for this trihe, with a prospect before
us for great material improvement, and
financial prosperity never more promising;
| with ample and increasing funds-more
than enough to meet all Of our obligations
the Republican debt-payers Of the North
| have Joined hands with the Repudjators
here to prevent the Debt-payers of Virgin
ia from paying her debts and sustaining
| her good name and reputation. She has
| this year paid all Of her accruing interest
81 .523, 516-save $500 900, and still Gen.
Grant undertakes to say that Virginia has
| paid nothing since the war; whereas. in
| fact. she has paid S14,272, 657 of interest
alone. We have estimated that our future
| income will not be short Of SIS, 900, and
| are confirmed in that opinion every day
| The Improvement in our railways viii
| from them alone bring an increased reve-
| nue. of about 900 next year which has
| already been assessed. The penitentiary
| will, next year, probably yield net reve-
nue. of not less than $4,000, and the in
creased values from new capital, and in
vestments of all kinds within cur borders
will swell the amount above the figures we
have named. An indication of these in
creased values and strange commentary
upon the late re-assessment of our lands
by the Readjusters, is found in recent
experience in Warwick county, where a
few hundred acres needed by the Chesa-
peake & Ohio Railway Company were
valued for condemnation for its purposes
by sworn appraisers appointed by the
court, at within 100000 of what the he
adjuster assessors had, about year before
valued the entire county at.
DEMOCRATIC CAUCUs.-A caucus of