Of this amount, the large sum of $391,500 is to be provided for early in 1855 and 1856. The annual State tax of $400,000 being all engrossed by the ordinary expenditures of government, and the sales of public lands having been stopped for the present year, the Treasurer says the resources for the payment of the public debt falling due in 1855-6, are reduced to the following: Assets in the Land Office due or maturing before 1856 So much of cash on hand as can be spared 100 shares in Augusta Bank..... Notes due at the Treasurer's office prior to March 7, 1856. Total...... The receipts from the Land Office in 1853, were... MASSACHUSETTS. $321,000 80,000 8,000 2,000 $361,000 $85,430 27 The Report of the State Auditor of Massachusetts says the entire debt and liabilities of the Commonwealth, including over five millions of scrip loaned to aid in the construction of sundry railroads from 1837 to 1841, is $6,853,730 76; increase during the year, $168,000. The amount loaned to the several roads is amply secured, and a fund has been created to meet the payment of over $1,100,000 of the balance. There remains of the funded debt unprovided for, $475,000; and temporary loans or floating debt, proposed to be paid by State tax, $220,000 -total, $695,000. The property of the Commonwealth, including the security held for its loan to railroads and real estate, &c., valued at $2,079,796, amounts to $11,092,457 61; surplus resources, $4,238,727 05. The various productive securities in the hands of the Treasurer, including those in the Western Railroad Loan Sinking Fund, amount to $4,422,714 27-all well secured, and averaging over six per cent per annum. The public lands in Maine, valued last year at $616,000, have been sold for $646,000, and the proceeds divided between the Western Railroad Stock Sinking Fund and School Fund, which last amounts now to $1,244,284 05. The Auditor gives the following statement of receipts and expenditures for the past year, including for extraordinary as well as for ordinary pur Payments, $2,181,379 95, showing an excess of payments of $63,174 88. Cash on hand beginning of 1853: Ordinary revenue, $8,684 02; school fund, $133,052 54; for hospital and alms-houses, $124,408 02. The payments were: Legislature, convention, salaries, &c., $87,488 70; school and other funds, $502,896 24; interest on scrip loans, $56,350; new lunatic hospital, $200,845 01; temporary loans repaid, $446,800; five per cent loan paid, $100,000; cash on hand, $202,969 66. The ordinary receipts were: VOL. XXXI.-NO. III. From revenue... Total....... ... $595,684 32 | State tax, in part......... $285,605 00 $882,289 82 $40,551 01 $874,488 70 $7,800 62 66,808 25 393,994 68 376,791 06 $17,803 63 To discharge which there are available means amounting to ..... Increase during last year...... Of the State revenue, $117,667 60 was realized from transit duties and taxes on the Camden and Amboy and New Jersey Railroad Companies, and the Delaware and Raritan Canals. The Free School Fund is $393,994 an increase since last year of $17,203. The whole receipts from public works since 1833 have been $1,579,558; of which $1,339,765 have been from the joint companies, $217,883 from the New Jersey Railroad Company, and $21,910 from the Paterson Railroad. PENNSYLVANIA, The Message of Governor Bigler to the Legislature of Pennsylvania exhibits the finances of the State in a favorable light. His summary is as follows: At the time of his induction into office, December, 1851, the liabilities of the State were as follows, to wit:— Relief notes, per act of May, 1841.... 650,163 00 Certificates for unpaid interest on the public debt, for the years 1843, 1844, and 1845, with their accumulated interest.. 204,680 20 Domestic creditors' certificates.. 82,932 74 Total liabilities December 1, 1851....... $40,154,457 48 Add loan of April 2, 1852, for the completion of the North Branch The floating liabilities of the Commonwealth, and current demands upon the treasury at this time, are For the construction of a new road to avoid the inclined planes on the For the completion of the Western reservoir.. Various public improvements have been undertaken by the State in For the North Branch Canal. $1,223,429 00 335,500 00 656,034 90 53,380 41 1,000,000 00 For the new locks on the Delaware Division. 80,000 00 Total new improvements $2,143,915 31 The following were the sources of revenue of Pennsylvania for the last The Governor of Maryland, in his message to the Legislature of that State, gives a favorable exhibit of the public finances. The whole amount in the treasury during the new fiscal year ending the 30th of September, 1853, (exclusive of $243,519 27, received for and credited to the several funds,) was $1,170,505 47; of which $1,000,053 19 were the actual receipts of the year. The expenditures for the same period were $825,147 67; and the balance in treasury at the close of the fiscal year was $345,357 80; subject to charges, (inclusive of current interest on the public debt,) amounting to $342,650 98, and payable on and after the first day of October. The whole amount in the treasury during the year estimated to the 30th of November, (exclusive of $299,005 56 received for and credited to the several funds,) was $1,387,972 19, of which $1,217,519 91 were the actual receipts to that date, showing a decrease of $62,433 36, as compared with the receipts of the year 1852. The expenditures amounted to $1,193,569 59; and the balance in the treasury on the 30th of November was $194,402 60. During the same period $55,036 68 were disbursed in aid of the sinking fund, and $112,990 37 to the redemption of State stock. If the two amounts last stated are added to the balance remaining in the treasury on the 30th of November ($194,402 60) it will show an actual surplus revenue for the year of $362,420 65, after paying $673,371 73 for interest on the public debt, and $352,170 81 for all other purposes. At the close of the fiscal year 1852, the sinking fund amounted to $2,728,076 01; and on the 30th of November, 1853, to $2,922,750 87; showing an increase for the year of $194,674 86. It is now-Jan., 1854— a little over three millions of dollars. The gross amount of the new taxable basis is $261,248,660, which would appear to exhibit an increase of $68,462,081 over the assessment of 1852. The actual increase, however, (making allowance for that part upon which the tax is payable directly into the treasury,) amounts to $49,667,825. SOUTH CAROLINA. The Governor of South Carolina, in his message to the Legislature of that State, gives the annexed exhibit of the public finances on the first of October, 1853, the close of the last fiscal year : PUBLIC DEBT AND ASSETS. 5 per cent Loan Bonds, payable in London 1858 and 1868. 6 per cent Fire Loan stock, payable in 1860 and 1870... $937,777 78 805,590 15 6 per cent of 1839, (balance past due not bearing interest) 8,418 03 5 per cent 1838, balance... 45,214 03 8 per cent at nominal value, $117,438 40, but at market price would amount to.. 73,936 18 Total....... $1,870,936 76 The treasury has paid from the sinking fund, since 1st of October, $6,032 50 of the 6 per cents of 1839, reducing the balance to $2,385 80. The bank also holds of the 5 per cent stock of 1838 the sum of $6,679 11, and also $7,441 53 of the three per cents, which was purchased with the sum of $4,668 16. The amount of indebtedness is diminished by these several payments and purchases. The assets of the State consist of the Bank and various railroad stocks. The assets under the charge of the bank may be summarily set down as follows: Total funds in the bank, as exhibited by the annual statement, 1st October, 1853 Deduct bank liabilities, issues, deposits, etc.... Balance, being assets, the property of the State Greenville Railroad Company.. Wilmington and Manchester Railroad Company Charlotte and Columbia Railroad Company Total...... $7,919,932 49 4,086,590 22 $3,833,342 27 641,000 00 348,000 00 200,000 00 69,200 00 50,000 00 84,000 00 $5,175,542 27 In addition to the funded debt due by the State, there is due to the bank the sum of $177,691 22 for cash paid to the South Carolina Railroad Company, when $25 per share on the stock of that company was called in. As the whole par value of the stock is set down among the assets of the State, it is necessary to notice this debt in an estimate of her finances. The profits of the bank during the year have amounted to $330,000, exceeding the profits of the previous year $21,594 93. From these profits have been paid the fire loan debt, $100,963, and the balance carried to the sinking fund amounts to $229,037. The account exhibits a larger balance than usual; but the bank has advanced to contractors for arms, &c., about $51,000, which is a set off against this balance. The sum of $75,500 has also been advanced to the Greenville Railroad Company, which is the amount of the assessment on the stock held by the State in that company, and which, if paid by the State, will make a further reduction of the cash balance in the treasury. The bank holds the notes of the company, with security, for the amount of the advance. To pay the public debt, the State has the following resources, if they could be applied to that purpose:-$939,000 of stock in the Bank of Kentucky; $290,000 of stock in the Northern Bank of Kentucky; $40,600 of stock in the Bank of Louisville; and $600,000 of stock in the Southern Bank of Kentucky; to which may be added $150,000 of stock in the Lexington and Frankford Railroad, and $74,519 50 bonds on the Louisville and Frankford Railroad Company-making, in all, the sum of $2,094,119 50. The State has, in addition, $694,239 98 stock in turnpike roads-supposed to be worth about twenty-five or thirty cents on the dollar-besides her investments in rivers, &c. TENNESSEE. It appears from the Report of the Controller of this State, that the amount of money received into the State Treasury, for the two years ending on the 3d day of October 1853, was $1,202,857 04. The whole amount paid out for the two years ending 3d of October, |