The American annual cyclopedia and register of important events of the year Volume 12 - Softcover

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1873 Excerpt: ...the State has unadjustod claims against the Federal Government, for advances made during the war, amounting to $505,478.52. Holders of the honds have been notified of the readiness and desire of the State Treasury to pay the principal, with accrued interest and without discount, but they have declined to receive the money and surrender the bonds. While the sinking fund yields more than is required for the redemption of tho State indebtedness as it falls dae, the revenue is insufficient to meet the expenses of the governnient. The Governor for two years past has urged upon the Legislature some action which should remedy this difficulty. Iu his last message ho recommended that the Commissioners of the Sinking Fund be authorized to invest so much of the cash and oash assets on hand, belonging to tho sinking fund, in 5-20 bonds of the United States, or other equally good and convertible securities, as will be sufficient to pay off tho outstanding redeemable bonds, and that such securities should be held by the commissioners for that purpose and no other, and that all the other resources of the fund, "except the five cents now imposed by law on the $100 of taxable property," be diverted to the revenue proper. The amounts paid out of the Treasury during the past two years to various charitable institutions and other objects named, together with the revenue collected and the surplus remaining for general purposes, are exhibited in the following statement: the mineral wealth of that section. The Elizabethtown, Lexington & Big Sandy Road has been completed from Lexington to Mount Sterling, and during the year 1873 will probably be extended to the mouth of the Big Sandy, to counect with the Chesapeake & Ohio. Great improvement has been made in tho m...