Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-05-18
VIRGINIA FINANCES.
Interesting Letter from Delegate
Eugene Wfthers.


Eugene Wfthers.
To the Editor OF the Danville Register:
Dear Sir,-You are to be congratulated
that, owing to your persistent agita-
ton of the question of the constitutional
convention. interest is being aroused
to such an extent that the most pre-
JUDGED supporter or partisan Of the pres
ent system can no longer ignore the fact
that this is the principal question In
Virginia politics. and must be met and
decided at no very distant day.
think that you and your readers Will
find it interesting to peruse the figures
given below, which I have taken from
the reports OF the First and Second audi
tors of the State. and classified in order
that they may be easily grasped and
understood.
/ have endeavored to make a compari-
son of the receipts and expenditures of
the State during the years 1893 and 1894,
ending on the SOth OF September Of each
year.
RECEIPTS.
Year ending September 80 1892. SO, 900, 326 50
Year ending September 30. 1884,. 3,0S3. Isl IL
Decrease for the year 1891. .....s 22o,175 IS
EXPENDITURES.
Year ending September 80. 1884,. 3,602.570 81
Decrease for 1885, ..............$ 15205S 0S
This decrease is apparent, not real. as
I show below:
Decrease In receipts for year
1884,, as compared with the
year 1898, exceeds the apparent
decrease In expenditures for
the same period .......;;::......S es.llI 80
The total excess of expenditures
over rpCeintS during the 6ecal
year ending September 30. 1884,
OF the First Auditor -. 5ls.n9 Sc
Leaving a balance in the State
Treasury on the LIST day OF Oc-
tober last OF .................... 132.2 S 80
Just here let us compare the condition
of the Treasury for the last three years:
Balance in Treasury october i,
1892 ..................... .n,io2, s5s q
Balance In Treasury October !.
1875 OBSERVATION-DISCLOSURES. tols boz %
Balance in Treasury October 1.
Win there be a balance In the State
Treasury on October l. 1896? The de-
crease In State expenses for the year 1884,
as compared with the year 1898. Is ap-
parent and not real. as I said above. /
will undertake TO show that this Is the
case.
In 1893 the Second Auditor, according
to his report. paid out interest to the
amount OF sl,2o5,52.57. distributed as fol-
lows:
Interest on bonds held by the
Board OF Public Works, which
was an investment by act of
Assembly OF the proceeds OF
certain property or the State.
sold to realize fund 10 erect
the new Library building, on
which interest had been accu-
mulating for sevral years......S 81 SO 50
Also one years interest on the
manuscript bond from January,
1884, to July. 1892. given TO the
bondholders committee under
the act OF February 20. 1882. So, 1871 20
Interest on this same bond up to jan
uary. 1898. was paid during 1888 to the
amount Of $50, 1870. but that Is included
In item OF Regular Payments for the
Year"
Also. by act OF February %. 1892, for
funding the public debt provision was
made for the payment Of certain coupons
which had been rendered for taxes. and
these coupons were paid In 1888. and were
charged to interest account
This item amounted to ........s l66.699 %
Regular payments Of interest
Total amount Of items charged '' %
70 interest account for the
year 1883 ...............-.......1 ]. 205 Sc 81
tersst .....,-........:.....,..... s7a.Ss 81
Three extra items noted above
as paid during the year 1898.
but not to be counted as regu-
lar interest payments ........ 631. 1I6 70
Amount of interest paid out by
Second Auditor for the year
ending september .. Iss..;.... 1854 n
normal amount" .-............ 5000 %
Total regular interest paid out