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enue from specific taxes is rapidly increasing—and it is not unreasonable to expect that in a few years there will be sufficient realized from this source to defray all the ordinary expenses of the State government Limited biennial sessions of the Legislature will materially lessen the State expenditures, and proportionably relieve the people of the burthens of taxation. The educational funds, with the liberal provisions of the last Legislature in favor of schools, are amply sufficient to secure the universal education of the youth of the State: RECEIPTS AND EXPENDITURES FOR THE YEAR ENDING NOVEMBER 30, 1851.
Expenditures. Receipts. The balance in the hands of the State
Treasurer on Nov. 30, 1850, exclusive of amounts to meet outstanding warrants upon the General and Primary School Interest Funds, was.
$35,360 27 General Fund, ...
$149,151 37 210,049 22 Internal Improvement Fund,
139,188 82 100,900 57 Primary School Fund,..
40,540 22 Primary School Interest Fund,
49,160 29 35,044 27 University Fund,
11,534 52 University Interest Fund,
9,837 91 9,724 53 Normal School Fund, -
3,060 69 3,601 05 Normal School Interest Fund,.
36 65 206 28 Asylum Fund, ....
1,602 18 729 95 Central Rail Road Deposits,
141 81 Southern Rail Road Deposits,
606 00 Contingent Fund,
337 50 State Building Fund, .
1,453 57 *Balance charged State Treasurer, Nov. 30, 1851,-...
449,750 45 449,750 45
*To amount add $147 98, for outstanding warrants, which will make $97,391 21, the amount in hands of State Treasurer Nov. 30, 1851.
EXHIBIT OF FUNDS. The foregoing table shows the several funds belonging to the State, all of which will be treated of under their appropriate heads:
EXPENDITURES. Salaries Public officers, (see statement No. 1,)..
$10,508 52 Expense of Judiciary, (see statement No. 2,),...
7,663 19 Legislative Expenses,
53,801 27 Expenses Public offices,
3,174 53 Expense of sales, disbursed from proceeds of sales, ....
14,653 61 Expense of sales refunded,
310 6 Delinquent taxes, &c., refunded,
19,155 61 State Library,
27 75 Interest on bonds, exchange, &c., 15,1197 Sundry awards by Board State Auditors, 730 96 Perfecting census returns, .
556 23 Coroners' fees,
181 32 Wolf bounties,
272 75 Expense State Prison,
6,000 00 Sundry appropriations by Legislature, 1,813 63 Expenses Convention, (Act 79, 1851.,) - 4,552 15 Paid sundry counties, .
9,013 50 Expenses State Board Equalization,... 40 18 do Mich. State Ag. Society,
1,000 00 Cost of suits,
691 72 Salt spring lands,....
1,108 36 Specific taxes, (see statement No. 7.,)... 27,717 30 Rec'd from sundry counties,
71,199 29 Redemptions, State tax lands, &c.,-.... 23,112 88
Proceeds of sales, ...
There is now due and payable out of the above fund $20,610, for interest on General Fund Bonds--$19,140 00 of which is due the United States, on bonds held in trust for the Cherokee tribe of Indians—but, as the amount advanced by this State ($17,193 70,) for the regiment raised here during the late war with Mexico, and which is a just and proper charge against the United States, remains unprovided for, I see no reason why we should not continue to neglect to pay the interest on the bonds thus held, until this advance, as well as the claim for expenses incurred while a Territory, in maintaining our Territorial boundary, shall have been adjusted. The Legislature of last winter passed a joint resolution relative to those advances, and requested our Senators and Representatives in Congress to use their influence to procure the passage of an act or joint resolution, by Congress, authorizing or requiring the proper officer of the treasury department to allow and pay to the State the money thus expended.
Our delegation, in compliance with the above resolution, will no doubt use all honorable means to procure a final and equitable adjustment of these claims.
There will be due and payable out of the General Fund, for interest on bonds other than those held by the United States, the sum of $5,910 00. Arrangements will be made for the payment of these coupons on presentation at the Phoenix Bank.
There are some other liabilities against the General Fund, but none which will require a very large amount to be kept on hand, as there will be sufficient received from time to time in the State Treasury, to liquidate all such demands. INTERNAL IMPROVEMENT FUND.
Ce. To balance Dec. 1, 1850,.... $345,225 79 “ interest on five million loan bonds,... 10,770 00
do Intern'l Imp. war'nt bonds, 15,733 50 do Det & Pon. R. R. bonds,..
6,270 00 do adjusted bonds,
10 09 105 11
To interest on treasury notes, .... u do In. Imp. warrants,
part paid bonds paid in by & R. R. Company, “ In. Imp. warrant bonds paid in, " fractnl warrants issued, “ land warrants issued, ... " exchange,
paid C. Britain, (award Board of Auditors,) ... “ refunded to C. H. Abbot, land twice
sold, .... By In. Imp. lands sold, By Mich State bank, &c., assets, ....
instalments and interest from S. R. R. Company,.. * rec'd of U. S. for 5 per cents, * warrants funded,.. * State debt tax,
Debit balance Dec. 1, 1851,.....
4,315 28 10,529 84 40,308 89 321,119 76
8472,859 06 $472,859 06
Large amounts have heretofore been drawn from the General Fund, in aid of the Internal Improvement Fund; but the amount appropriated by the last Legislature, together with other resources, will be amply sufficient for the next two years to meet all liabilities, and the Legislature will, no doubt, continue to make provision for the prompt payment of all demands, without encroaching upon any of the other funds. The $13,260 interest bonds, due January 1, 1850, mentioned in the last report from this office, remain unpaid, not having yet been presented to the Phænix Bank in New York. The State Treasurer however, has made an arrangement with the Bank to take up said bonds when presented, and to notify bim immediately of the fact. This arrangement obviates the necessity of keeping that amount lying idle in the city of New York. There will also be due and payable at the Phoenix Bank, from the Internal Improvensent Fund,
$13,721 04, for interest past due and unpaid, and which will become due January 1, 1852, on outstanding $5,000,000 loan, Detroit and Pontiac Railroad, and adjusted bonds. The Treasurer will forward this amount previous to the 1st of January, and the coupons will be promptly paid. The interest on the Internal Improvement Warrant bonds past due, and to become due January 1st, 1852, amounting to $7,459 50, (exclusive of the bonds that may be issued between Nov. 30, 1851, and January 1st, 1852,) will be paid on presentation of the coupons at the State Treasury.
The amount of interest payable from this fund is liable to be largely increased by the surrender of part-paid bonds, and the issue of adjusted bonds therefor, as interest commences on the 1st of Janua. ry succeeding such issue. There will be at least $9,000 more interest payable on this class of bonds in 1852 than there was in 1851. The Legislature foreseeing this, appropriated for 1852 $75,000 to this fund and for 1851 only $29,000. It is expected that a large portion of the $2,831,000 part-paid bonds now outstanding, will be surrendered during the coming year, as the constitution of 1850 fixes the amount at which they shall be funded, and the holders can no longer reasonably entertain any hope of increasing it. The sooner these bonds are surrendered and new bonds issued there. for, the sooner the holders will commence drawing interest upon the interest already accrued.
Receipts, Expenditures. Primary school fund, ....
..$40,540 22 do do interest fund, .
35,044 27 $49,160 29 University fund,
11,534 52 do interest fund,
9,724 53 9,827 91 Normal school endowment fund, ........ 3,601 05 3,060 69 do interest fund,
206 28 36 65 Asylum fund, ...
729 95 1,602 18 Michigan C. R. R. deposites,
141 81 do S. R. R. do
$ 101,986 82 $63,839 53
The amount now due the Primary School Fund is $238,252 18,