Report of the State Treasurer in Obedience to An Order of the House of Delegates : January Session, 1853 1853
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That upon those sterling bonds issued by the State, on account of the said company, not yet con- verted into currency, and at this time amounting to £660,500, which, at 5 per cent, interest, is £33,025, equal to $146,777 78 Amount carried forward.
Amount brought forward. . . $146,777 78 Which, with cost of exchange and commission of placing and dis- bursing the same in London, as above estimated, is 17,613 33 Together, making as the sterling interest to be provided for by the said company, $164...,391 11 Which, being deducted from the above annual in- terest and cost upon the whole funded debts of the State, leaves as the amount to be provided for by the State, and to be paid from the Trea- sury, in pursuance of an appropriation, 678,954 69 Subject, however, to such variations as may result from the conversion of sterling bonds into cur- rency, and the price of exchange upon London.
2. That amount which the State now pays directly from its Treasury upon those of its sterling bonds issued on account of the said company, and which, in pursuance of chapter 41, of 1847, were converted into currency, (the interest on which was necessarily included in the calcula- tion of the currency interest above,) now amounting to .£59,500, which having been converted at $4.84 to the £, is $287,980, the interest whereori the said company reimburses to the State upon draft from the Treasury De- partment, amounting, at 5 per cent., to 14,399 00 Which, being deducted from the above, leaves as the nett interest and charges thereon, at this time, to be provided for by the State, $664,555 69 Or, in other words, the whole amount of interest and charges thereon, upon the funded debts of the State is.
What to read after Report of the State Treasurer in Obedience to An Order of the House of Delegates : January Session, 1853 1853?
You can find similar books in the "Read Also" column, or choose other free books by Maryland. Treasury Dept. to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
That upon those sterling bonds issued by the State, on account of the said company, not yet con- verted into currency, and at this time amounting to £660,500, which, at 5 per cent, interest, is £33,025, equal to $146,777 78 Amount carried forward.
Amount brought forward. . . $146,777 78 Which, with cost of exchange and commission of placing and dis- bursing the same in London, as above estimated, is 17,613 33 Together, making as the sterling interest to be provided for by the said company, $164...,391 11 Which, being deducted from the above annual in- terest and cost upon the whole funded debts of the State, leaves as the amount to be provided for by the State, and to be paid from the Trea- sury, in pursuance of an appropriation, 678,954 69 Subject, however, to such variations as may result from the conversion of sterling bonds into cur- rency, and the price of exchange upon London.
2. That amount which the State now pays directly from its Treasury upon those of its sterling bonds issued on account of the said company, and which, in pursuance of chapter 41, of 1847, were converted into currency, (the interest on which was necessarily included in the calcula- tion of the currency interest above,) now amounting to .£59,500, which having been converted at $4.84 to the £, is $287,980, the interest whereori the said company reimburses to the State upon draft from the Treasury De- partment, amounting, at 5 per cent., to 14,399 00 Which, being deducted from the above, leaves as the nett interest and charges thereon, at this time, to be provided for by the State, $664,555 69 Or, in other words, the whole amount of interest and charges thereon, upon the funded debts of the State is.
What to read after Report of the State Treasurer in Obedience to An Order of the House of Delegates : January Session, 1853 1853?
You can find similar books in the "Read Also" column, or choose other free books by Maryland. Treasury Dept. to read onlineMoreLess
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