750 



VIRGINIA. 



Government. The following were the State 

 officers during the year : Governor, Philip W. 

 McKinney, Democrat ; Lieutenant-Governor, J. 

 Hoge Tyler ; Secretary of State, H. W. Flournoy ; 

 Auditor, Morton Marye ; Second Auditor, Josiah 

 Ryland ; Treasurer, A. W. Harman ; Attorney- 

 General, R. Taylor Scott ; Adjutant-General, 

 James McDonald; Superintendent of Public 

 Instruction, John E. Massil; Commissioner of 

 Agriculture, Thomas Whi^ehead ; Railroad 

 Commissioner. James C. Hill ; President of the 

 Court of Appeals, L. L. Lewis. 



Legislative Session. The General Assembly 

 of 1893-'94 was organized Dec. 6, 1893, and re- 

 mained in session until Dec. 20, when it ad- 

 journed to Jan. 1, 1894. The chief work finished 

 was in deciding the claims of candidates for 

 office. Charges had been made that the Hon. 

 Thomas S. Martin, candidate for the United 

 States senatorship for the full term beginning 

 March 4, 1895, during the last campaign for 

 members of the Legislature, had illegally used 

 money and men in the work of providing for his 

 own election to the United States Senate. A 

 joint legislative committee of seven members 

 devoted several days to the hearing of testimony, 

 and finally reported that there was no evidence 

 to show that any improper methods or means 

 had been used by any candidate for the United 

 States Senate. The General Assembly adopted 

 the report and elected Mr. Martin. Gen. Lppa 

 Hunton was elected to the United States Senate 

 for the short term. Gov. McKinney sent to the 

 Legislature a special message on the subject of 

 taxation. 



Finances. The annual report of the State 

 Treasurer for the fiscal year ending Sept. 30, 

 1893, shows a balance on hand Oct. 1, 1892, of 

 $1,117,205.73 ; received in the fiscal year 1892-'93, 

 $3,297,576.56 ; disbursed 1892-'93, $3,750,973.40 ; 

 balance on hand Oct. 2, 1893, $663,808.89. The 

 total balance in the treasury to the credit of the 

 several funds on Oct. 2, 1893, was $992,435.50. 



The annual interest on the public debt is 

 $554,947.44; on the college fund, $146,067.32; 

 making a total of $701,014.76. The interest paid 

 out last year was $1,205,542.07, or $504,527.31 

 more than the interest account for the coming 

 year. This difference is due to the fact that last 

 year two years' interest was paid on the public 

 debt, it having accumulated during the process 

 of debt settlement. The two years interest pay- 

 ment also accounts for the discrepancy between 

 the balances of 1892 and 1893. 



The securities deposited with the Treasurer 

 by foreign insurance companies amounted in 

 1893 to $2.098,236.37. From the statement of 

 the Virginia debt made by the Second Auditor, 

 showing the amount funded, and the principal 

 and interest unfunded, under the act of Feb. 20, 



1892, the following is taken : Owing to delay by 

 the distribution commission in fixing the rate of 

 funding, a manuscript bond for the sum of $16,- 

 359,860 was issued, on which the State duly paid 

 interest for two years, to and including July 1, 



1893, amounting to $654,394.40. The manu- 

 script bond being surrendered to the State July 

 21, 1893, it was canceled and filed in the treas- 

 ury, and new engraved bonds were issued in lieu 

 thereof, as follow: Issued to Bondholder's Com- 

 mittee, $16,359,860; to Commissioners of the 



Sinking Fund, $281,503.49 ; ready to be issued 

 to Commissioners of the Sinking Fund when 

 called for, $20,771.68; total issued and ready to 

 be issued, $16,662,135.17. The coupon bonds 

 under this act are transferable to registered 

 bonds, but the latter are not transferable to 

 coupon bonds. The amount of each class out- 

 standing Oct. 1, 1893, is as follows : Coupon 

 bonds, $16,121,000; registered bonds, $515,100; 

 fractional certificates, which can be converted 

 into either coupon or registered bonds, $5,263.- 

 49 ; total, $16,641,363.49. The debt unfunded is 

 as follows : Principal, bonds, and certificates 

 issued under acts passed prior to April 17, 1861, 

 under act of March 2, 1866, also sterling certifi- 

 cates issued under act of March 30, 1871, com- 

 puted as funded at two thirds on account of the 

 deduction of West Virginia's proportion, $545,- 

 933.01 ; consols, act of March 30, 1871, $1,015,- 

 493.30; peelers, act of March 7, 1872, $38,781.- 

 11; ten-forties, act of March 28, 1879, $309,- 

 900; total, $1,910,107.42. From this deduct 

 two thirds of old bonds held by United States 

 Government and various internal improvement 

 companies, which are not fundable, $431,957.33, 

 and there is to be funded $1,478,150.09. Inter- 

 est tax-receivable coupons (estimated), $1,000,- 

 000 ; interest on consols and peelers, registered, 

 $105,676.75; two-third interest on old bonds, 

 $892,209.11; black scrip, $104,491.62 ; total, $2,- 

 102,377.38. Deduct two thirds of interest due 

 United States and words of internal improve- 

 ment, $688,164.43 ; also interest due more than 

 thirty years which never will be called for, 

 $250,000 ; and unfunded interest will amount to 

 $1,164,212.95; unfunded principal is $1.478,- 

 150.09; total, $2,642,363.04. This amount, fund- 

 ed at the same rate with that already funded, will 

 yield, in new bonds, $1,798,047.16, which, with 

 bonds already issued and to be issued, $16,662,- 

 127.10, gives the total debt under the act of Feb. 

 20, 1892, as $18,460,1 74.26. But it is almost cer- 

 tain that the issue will never exceed $18.250,000, 

 so that the following may be considered a correct 

 statement of Virginia's debt: Principal out- 

 standing bonds under act of Feb. 14, 1892, $6,- 

 331,581.40; under act of Feb. 20, 1892, $18.250,- 

 000; total, $24,581,581.40. Annual interest 

 3 per cent, on $6,331,581.40 is $189,923.60; 2 

 percent, on $18,250,000 is $365,000; total, 

 $554,923.60. 



Taxation. The value of real estate owned 

 by whites is $296,371,055 ; of personal property. 

 $90,373,044 ; the value of real estate owned by 

 colored people is $9.829,583 ; of personal prop- 

 erty, $3,465,370; total real -estate valuation, 

 $306,200,658 ; total valuation of personal prop- 

 erty, $93,838,414. Total tax assessed against 

 whites, $1,824,153.74; against colored people, 

 $172,391.28 ; total tax, $1,996,545.02. The live 

 stock numbers 1,779,629 head, and is valued at 

 $21,863,600. The receipts from the oyster tax 

 for the year were $32.865, an excess of $17,865 

 over the receipts of 1892. 



Railroads. As there was no construction of 

 roads in 1893, the total mileage in the State i? 

 3,862'64 miles. The gross earnings were $31,- 

 765,330.81, an excess of $2,062,304.22 over 1892. 

 The amount of tax paid by the railroads was 

 $508,702.98, which is about one sixth of all the 

 taxes collected. 



