The financial condition of Fredericksburg is good, and her credit is undoubted. It is true that the debt of the city is large, but for every bond issued there is something substantial standing for it, except nearly $120,000 of ante-bellum bonds, issued by our forefathers in an honest and earnest endeavor to secure for our people improvements of a permanent and profitable character. But the improvements proved worthless to the town. Those who voted for them have passed over the river of death, leaving this indebtedness as a legacy to their descendants, and we take great pleasure in providing for it. The other bonds were issued for improvements the town needed and was compelled to have. They are all in use at present, successfully operated, and are valued far in advance of the price paid for them by the city, and it is only a question of private or corporation ownership, as to whether it was a wise policy for the city to erect and operate them. The City Council thinks it acted for the best interests of the town and the people back it up in that opinion. Nearly all of the bonds issued by the city bear four per cent., were sold at or above par and purchased mostly by our own citizens. This, it would appear, is a strong indication that our financial affairs are in a satisfactory condition. PRESENT COMMERCIAL CONDITION. The commercial prosperity of the town is probably far in advance of what it ever was before. We have now about one hundred and fifteen wholesale and retail stores, each one doing a thriving business. In these stores the customer will be able to find any article of merchandise he may need and at as low price as he could find it in the larger cities. In the last few years there has been a spirit of improvement in business houses, and at present there are to be found store-houses that would be a credit to a city of larger pretentions. So changed is the business portion of Main street by reason of this enlargement and ornamentation that citizens of the town have often had to inquire for the places they wished to visit. In addition to this, our manufactures have increased and are still increasing, and in them hundreds of persons find employment at living wages. Among the manufacturing institutions may be mentioned two large flouring mills, one woolen mill, one pants factory, one silk mill, two sumac mills, three excelsior mills, one mattress factory, two pickle factories, one canning factory, one shoe factory, one shirt factory, one spoke factory and six repair shops. The assessed taxable value of property in town is, personal property $703,782, real estate $1,676,133, making a total of $2,379,915. Besides this, our several banks, in their periodical statements, made to the Government, show largely over a million dollars on deposit, subject to individual checks. In view of these facts truly it may be said that Fredericksburg is in a prosperous commercial condition and is rapidly adding to that prosperity. LINES OF TRANSPORTATION.