FINANCES OF THE STATES. (Continued from page 347.) VERMONT. THE receipts and disbursements of the State of Vermont for the year ending September 1st, 1863, were as follows: The United States on account of allot- 771,327 30 1,853,874 28 $2,852,451 99 Disbursements. $37,008 60 Salaries... 31,037 50 Military warrants drawn by the Governor. $148,956 25 Extra pay to Vermont soldiers after mus ter in U. S. service.... Direct tax to U.S..... Loan of 1861, paid. 182,166 34 99,500 00 983,332 22 179,407 80 88,000 00 339,000 00 The total funded debt of Vermont, Sept., 1863, was $1,130,723 62. This debt is made up as follows: The current liabilities of Vermont, September 1, 1863, were.... $900,000 00 205,000 00 25,723 62 $1,130,723 62 $453,478 176,804 $276,674 $1,336,673 To meet which the State had resources amounting to.. Excess of current liabilities.... The estimated ordinary and extraordinary expenses of By taxes. Total... $545,000 791,673 1,336,678 According to the last census, the value of the real estate of Vermont is $92,205,049; and the personal property, $122,474,170; making total valuation, $214,679,219. WEST VIRGINIA. The Treasurer of the State of West Virginia, Hon. CAMPBELL TARR, in his report, under date of Jan. 20, 1864, gives the receipts and disbursements of the State, from the date of its organization, June 20th, 1863, to Dec. 31, 1863, as follows: Taxes on savings institutions, bank dividends, and dividends on the State's interest in the N. W. Bank of Adjutant General..... 66 66 Adjutant General's Clerk..... Contingent expenses Adjutant General's office..... "Militia, State, Nov. 19, 1863.... "Special appropriations. 66 "D. Lamb.... 66 Contingent expenses, Auditor's office.. $306,925 40 Disbursements. $18,790 77 1,830 54 2,375 77 163 00 322 21 3,091 24 11,963 23 1,805 43 5,036 63 7,998 20 274 06 633 33 126 11 118 50 1,630 57 $724 47 Dec 7, 1863.. 951 75 1,000 00 2,676 22 $215 45 The Constitution of this new State prohibits the creation of any debt, except to meet "casual deficits in the revenue, to redeem a previous liability of the State, to suppress insurection, repel invasion, or defend the State in time of war." Thus far no debt has been created. An equitable proportion of the public debt of the Commonwealth of Virginia, prior to the first of January, 1861, is to be assumed, and the liquidation of the same is provided for by the creation of a sinking fund. The debt of Virginia Oct. 1, 1860, was as follows: Amount of 5 and 6 per cent registered debt.... Sterling bonds (5 per cent), payable in London....... Total debt Oct. 1, 1860.... $18,758,641 63 12,624,500 00 1,865,000 00 $33,248,141 63 The State of West Virginia claims that it should assume only that portion of this debt which was incurred for expenditures made within the limits of the State of West Virginia, amounting, probably, to about one fifth or one-sixth of the whole. KANSAS. The following table shows the receipts and disbursements of the State of Kansas for the year 1863: Leaving a ballance in the Treasury, on the 31st of De cember, 1863.... $168,521 15 $11,231 78 The item in above disbursements of "State warrants redeemed " refers to State liabilities issued in payment of the expenses of the government. Amount of these warrants issued during 1863 was..... Amount of warrants issued during 1863... Total.... $96,790 96 30 00 $96,820 96 2,842 77 37,658 32 $137,322 05 $30,473 95 Amount of warrants outstanding Jan, 1, 1864...... Debt. The following is a statement of the funded debt of Kansas: Amount of 7 per cent bonds... If we add to this the warrants still outstanding: As above.... We have the whole debt of the State..... $204,000 00 44,300 00 500 00 $248,800 00 $30,973 00 $279,273 15 IS THE PRINCIPAL OF THE FIVE-TWENTY U. S. BONDS PAYABLE IN GOLD. In the February number, page 129, (referring to the 10-40 stock) we remarked that the "law authorizing it provides that it shall be paid, principal and interest in gold, whereas the law authorizing the 5 20's provides only that the interest shall be paid in gold." Since then several of our subscribers have written us, questioning the correctness of our assertion respecting the 5-20 stock, and asking for an explanation. We have not, however, referred to the subject again, thinking its discussion could do no good, and knowing that no words could make the statement clearer, since the simple reading of the two acts is all that is necessary to convince even the most skeptical. Last month, however, we published two letters written by the Hou. E. G. SPAULDING, in one of which he states, in substance, that the principal as well as interest of the 5-20 bonds is payable in coin; and we have now received a letter calling attention to this disagreement between our statement and Mr. SPAULDING's assertion, and intimating quite plainly that as he introduced the bill, he must be right and we wrong. The following is the letter; and, lest we may be considered as endorsing, by our silence, the error of Mr. SPAULDING, (as we published it) we add a few words in reply: WM. B. DANA, Esq.: NEW YORK, May 26th, 1864. DEAR SIR.-In the MERCHANTS' MAGAZINE for February, article "Commercial Chronicle and Review," we find it stated that the law authorizing the 5-20 U. S. six per cent bonds provides only that the interest shall be paid in gold; whereas, the 10-40 five per cent bonds are payable, principal and interest, in gold. In the May number of the MAGAZINE you published two letters of ELY SPAULDING to MORRIS Ketchum, |