RECEIPTS AND EXPENDITURES OF THE UNITED STATES. The subjoined statement of the receipts and expenditures of the government of the United States for the fiscal year ending June 30th, 1850, is derived from the report of the Secretary of the Treasury, as published by the Department, December 18th, 1850: RECEIPTS AND EXPENDITURES. The receipts and expenditures for the fiscal year ending June 30th, 1850, were: Receipts from customs... Receipts from public lands... Receipts from miscellaneous sources... Receipts from avails of stock issued for specie deposited.. Receipts from avails of treasury notes funded............ $39,668,686 42 1,859,894 25 Leaving a balance in the treasury July 1, 1850, of. PUBLIC DEBT OF THE UNITED STATES. The annual report of the Secretary of the Treasury, dated December 18th, 1850, furnishes the subjoined summary account of the public debt of the United States. According to the last annual report from the Treasury Department, the public debt, on the 1st of Dec. 1849, including $18,821 48 in treasury notes and stocks, was $64,723,515 16. Since that period the following reductions have been made, viz:— On account of the debt of the cities of the District of Columbia, as sumed by the act of 20th May, 1836.. On account of the old funded and unfunded debt.. Of treasury notes... And of the stock of 1847. Total....... $60,000 00 3,149 12 1,877 67 430.250 00 $495,276 79 The above stock was purchased at market rates, through the agency of Messrs. Corcoran & Riggs, and which, but for the great demand for government securities, increasing their price beyond the limit fixed by the department in its instructions to its agents, would have been somewhat increased. The public debt on the 30th November last was $64,228,238 37. Old funded and unfunded debt, redeemable on presentation...... Debts of the district cities assumed by Congress, $60,000, payable annually.... Five per cent stock per act of August, 1846, redeemable August Five per cent loan of 3d March, 1848, redeemable July 1st, 1853.... Total.... $119,585 98 900,000 00 303,573 92 6,468,231 35 4,999,149 45 3,198,686 03 27,135,122 00 154,328 00 15,740,000 00 209,561 64 $62,228,238 37 DEBT AND FINANCES OF VIRGINIA, SEPTEMBER 30, 1850. STATE STOCKS HELD BY OTHER THAN STATE AGENTS. ........ Issued for internal improvements.... $8,585,082 30 $9,035,189 30 HELD BY STATE AGENTS OR INSTITUTIONS. By the Literary Fund, (increase in 1850, $9,450,). $1,105,556 50 1,481,468 91 Liabilities for subscriptions to internal improvements, to be provided for by loans, of which about $2,000,000 will be required in 1851.. Total Liabilities for guaranty bonds issued by companies $9,035,189 30 4,632,868 49 for internal improvements.... Guarantees authorized, not yet called for Total Subscriptions authorized, but not applied for.. Grand total....... $13,668,057 79 $2,844,374 00 1,103,520 00 3,947,894 00 $17,615,951 79 844,000 00 $18,459,951 79 FUNDS AND RESOURCES OF THE COMMONWEALTH, EXCLUSIVE OF STATE BONDS. The difference between the interest, which will accrue on the debt for internal improvements, and the probable receipts for dividends and interest on stocks held by the Board of Public Works to September 30, 1851, will be about $370,000, to be paid by the stock from other sources. Of the $4,801,678, "stocks in improvements not completed," the following are the principal items. The works are all in progress. James River and Kanawha Company.. Virginia Central Railroad, (towards the Ohio).. Richmond and Danville Railroad, (to Upper Roanoke) Virginia and Tennessee Railroad, (Lynchburg to Tennessee). Alexandria and Orange Railroad Chesapeake and Ohio Canal.. Rappahannock Navigation.. Rivanna Navigation... Giles and Kanawho Turnpike.. Hardy and Winchester Turnpike Blue Ridge Turnpike.. Moorfield and North Branch Turnpike.. $3,000,000 338,300 512,488 185,000 139,552 281,111 45,500 35,373 27,491 19,900 14,600 17,625 29,104 13,200 14,541 13,300 The item of $323,500, included in "works transferred, &c.," will be refunded in stock of the Petersburg and Lynchburg Railroad, now in progress and likely to prove productive, as it will connect with the railroads now in course of construction to Memphis, Tennessee, forming a contiguous line from the James River to the Mississippi. NEW FEATURE IN BRITISH BANKING. The Royal British Bank, London, has announced a novel and important feature in banking, namely:-that depositors may obtain promissory notes on the amount of their deposits, which may be given as security; the notes to be unindorsed, and the interest to accrue to the depositor. DEBT AND FINANCES OF OHIO. The following summary statement of the financial condition of the State of Ohio is derived from the annual message of the Governor of that State. "The finances of the State are in a sound and prosperous condition. The interest upon the State debt has been punctually paid from the current resources appropriated for that purpose, and a large surplus remains, which is applicable to the reduction of the principal. The following is a summary statement of the receipts and expenditures for the fiscal year ending on the 15th November, 1850: RECEIPTS. General Revenue received during the year 1850. Canal tax, including $125,000 sinking fund Canal tolls and water rents Turnpike and canal dividends Canal lands sold... Surplus revenue repaid School and ministerial lands sold... School fund transferred from taxes collected. Interest upon surplus revenue fund..... Tax on banks and insurance companies Tolls upon Western Reserve and Maumee Road. National Road tolls.. Miscellaneous items. Balance in the Treasury on the 15th November, 1849.. Total amount of receipts during the year. EXPENDITURES. Paid General Assembly, Judicial, and State officers, State institutions, $275,901 02 988,443 29 728,085 73 29,838 20 42,691 43 177,213 85 68,884 88 50,000 00 58,741 88 56,428 95 12,043 93 37,060 11 11,225 12 555,435 40 $3,092,993 80 Interest on Special School and Trust Funds One per cent on surplus revenue.... Three per cent fund paid. On account of next January interest.. Fund Commissioners on account of State debt. Claims transferred to the Attorney General for collection Domestic Bonds referred by the Treasurer... Miscellaneous items paid Total amount drawn from the Treasury... Balance remaining in the Treasury on the 15th November, 1850.... $391,186 48 329,595 00 47,242 66 28,694 66 1,022,358 95 200,000 00 97,272 81 8,530 36 13,246 57 143,332 48 657,886 43 13,382 02 5,400 00 1,799 35 $2,960,927 78 132,066 12 $3,092,993 80 The total amount of the State debt which would have become due on the 31st of December, 1850, payable in the City of New York, was $4,385,650 76. As no means had been provided for the payment of this debt, it was deemed desirable by the General Assembly, to extend the time of payment, by issuing new stocks for the redemption of the certificates becoming due." Accordingly, under the act "to authorize the Canal Fund Commissioners to exchange certain certificates of the funded debt of this State," passed on the 21st of March, 1849, and the act amendatory thereto, passed on the 19th March, 1850, the Fund Commissioners have issued $1,025,000 of 5 per cent stock, payable in the City of New York at the pleasure of the State, after the 31st of December, 1865-$1,516,468 43 of 6 per cent, payable after the 31st December, 1870, and $1,600,000 of 6 per cent stock, payable after the 31st December, 1875. The premiums received upon the new stock amount to more than $300,000, after the payment of all charges and expenses. In addition to this premium, $625,000 of the 6 per cent stock, thus saving in interest nearly an additional hundred thousand dollars. The foreign debt of the State on the 1st of January, 1850, was $16,880,982 50. This debt on the 1st day of January, 1851, will be $16,566,773 69, being a reduction during the year of $314,208 81. There is now in the hands of the Fund Commissioners, and in the Treasury, subject to their control, surplus revenue, sinking funds, land funds, and other means, exceeding $700,000, which is applicable to the payment of the balance of 7 per cent stock. It is not, therefore, deemed necessary to make any further provision for the payment of the stock becoming due in 1851. The means already in the hands of the Fund commissioners, with the revenues and resources of the current year, will enable the commissioners promptly to pay the balance of the $1,500,000 7 per cent stock due on the 31st December, 1851. On the 1st of July, 1845, the amount of the State debt, as stated by the Fund Commissioners in their report of January, 1849, was... The total amount of the debt of the State on the 1st of January, 1851, will be as follows: Foreign debt... Domestic bonds School and trust funds. Amount of principal paid since 1st of July, 1845. $20,018,515 68 $16,566,773 69 493,824 00 1,683,996 63 $18,744,654 32 $1,272,921 36 Add to this the funds now in the hands of the Commissioners and in Total amount paid and in hand appropriated to the payment of the 750,000 00 2,024,921 36 Thus it will be seen by the operation of our present financial system, and the increased wealth of the State, our public debt will silently but steadily diminish, and in a few years be extinguished. DEBT AND FINANCES OF VERMONT. The subjoined statement of receipts, expenditures, and debt of Vermont, is derived from the annual report of the Auditor of that State :- EXPENSES TO AUGUST 31ST, 1850. Legislative, including Constitutional Convention.. Salaries of legislative officers, &c., stationery, printing bills, laws, jour- State Department, exclusive of salary. Auditor's Proclamations, blanks, binding, postage, freight, &c., of Governor and Judiciary and prosecuting crime, including salaries. $26,846 36 9,196 37 2,225 00 133 38 58 70 201 15 49,738 25 672 63 7,415 94 4,136 21 2,130 36 4,112 29 3,006 08 Interest and bank commissioner's account.. Actual expenses. Repaid loans, distribution of peddlers' license money, and balance of Co. clerk's and Auditor's orders... Balance in the treasury August 31st, 1850. Total debt..... $109,872 72 12,380 01 3,122 03 $125,374 76 |