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650 JOURNAL OF PROCEEDINGS. [Mar. 4,
000; and the Northern Central Railway Company will, hereafter,
furnish money to pay interest upon $1,500,000, leaving to be de-
rived from other sources, interest on the sum of $7,998,916.02.
The Sinking Fund holds of this debt, $3,426,749 95, of which
amount there was purchased during the last two years $556,045.-
24, and there has been called in lor redemption, and paid for out
of surpluses in the Treasury, for those two years, the amount of
$211,433.31. So that during the last two years there has been
absorbed of the Public debt, absolutely, by cancellation and re-
demption, the sum of $211,443.31, and virtually by purchase, for
the Sinking Fund the further sum of $556,045.24, making an
absorption actual and virtual of $767,478.55, within that period.
This very favorable summary of the finances of the State, fully
justifies the Committee in the expression of the declaration, that
our public debt is now a matter of such easy control, that nothing
short of some great public revulsion, will prevent its entire liqui-
dation long before it falls due.
For a more full and explicit statement of the condition of the
Treasury, the Committee have annexed the following tables,
which give in detail the different sources of Revenue:
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The Funded Debts of this State, as of 30th
September, 1855, amount to the sum of
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$15,132,909 00
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The character, of the debt, viz.,
3 per cent debt, $500,000 00
4½ per cent. debt 100,000 00
6 per cent. debt, 3,933.324 38
5 per cent. debt, 10,599,584 62
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15,132,909 00
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The Treasurer of Maryland, on 1st December,
called in and redeemed of the five per
cent. debt.
Nominal amount of State debt,
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211,433 31
$14,921,475 69
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The Baltimore and Ohio Railroad provides (see
ch. 386, of 1838) the interest on $3,200,-
000 00, which is placed in London at the
cost of said Company,
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3,200,000 00
$11,721,475 69
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In order to show what amount the State will have
to provide the interest on, from direct tax,,
&c, the following Companies, &c, sup-
ply the interest on so much of the main
debt:
Northern Central railway pays
on the sum of..... $1,500,000 00
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