Darling, was authorized at the last session of the Legislature, to apply for and obtain from the Treasury Department, it is thought best to make no change but let the estimates remain. as shown by the table. The amount, therefore, to be raised, provided your committee's estimates be correct, is $73,500. Your committee have estimated the assessment of property for the year 1849, under the provisions of the law approved August 21, 1848, at $20,000,000. This may not be a correct estimate, though it is believed that the assessment will exceed that amount, rather than fall short of it. Your committee, taking that amount for a basis, recommend that a tax of four mills, per centum, he levied on the taxable property of the several counties within the State, and report a bill for that purpose. This would produce the sum of $80,000, exceeding the estimated amount by the sum of $6,500, an amount of excess small enough to meet contingencies. Should the amount of taxable property exceed the amount before named, a larger sum would of course bə raised. Should it be so, it would be much better than a deficit; as an overflowing treasury would raise State credit, and place our State in an enviable financial condition—a condition highly desirable. Your committee believe the amount of tax before mentioned will produce more than the estimate, but do not believe that it would be safe to reduce the rate. According to the annual report of the Secretary of State, the counties of Washington, Portage, Rock, Calumet, and Dodge, made no return of merchandise and stock in incorporaied companies, for the year 1848, and therefore the amount of State tax against those counties was less by something like $2000, than it should have been. Your committee, believing that it is no more than right that those counties should make up the deficit, have inserted a section in the bill herewith reported, to require them to make up. Your committee have made no estimate of expenditures for locating and erecting a State Prison, not knowing whether any provision will be made at this session of the Legislature for that purpose or not. Should there be, it will not probably be necessary to increase the rate of taxation for that purpose, as the amount provided for the payment of the canal bonds can be divested, (and will be sufficient for the present,) as said bonds do not fall due until some time in the year 1851, and provision for their payment can be made out of the revenues of 1850, should this course become necessary. All of which is respectfully submitted. JOHN B. SMITH, Cn'n. C. LATHAM SHOLES. L A ACCOUNTS-George E Graves, 43; Cooley and Cowdery, 54; |