Annual Report Of The State Treasurer

OTATE TREASÜUEH S UFFICE, i Lansino, Dec. 1, 1862. ) To ths Legislature of the State of Michigan : Gentlemen- I beg to submit herewith a statement of the financia] transactions of this departtnent, as aho an exhibit of the various funda of the State, íor the fiscal year ending November 30th, 1862 : The total amount of receipts of the oflice for the fiscal year, is $1,124,505 10 The balance against the treasury, andjin my favor November 80, 1861, was, 27,179 79 The total of payments for the year is 896,020 09 Leaving a balance in the treasury of 200,794 62 81,124,595 10 WAR DEBT. During thu past year, I have sold $158,200 of the war bonds authorized "an act authorizing a war loan," approved May 10, 1867. ■■ These bonds were mostly sold early in the year, to meet the war expenses incurred in 1861. The amount received for the bonds sold was 150,539 95 To whieh add for accrued interest 2,578 80 And for premium on gold received ■ for bonds, 31 88 Total, $153,150 02 8TATE DEBT. The funded debt of the Stute is as folio ws : 1. Fuil paid "$5,000,000 loan" bonds, 0 per ets., due January lst, 1863, $ 177,000 00 2. Adj usted bonds, Cper ets., due Jan. lst, 1863, 1,746,185 00 '■',. 'IVmporary Loan, 7 per et., due Jan. lst, 1878, 50,000 00 4. Renevved Loan, 6 per et., due Jan. lst, 1878, ' 210,000 00 5. Canal Bonds, 6 per et., due . Jan. lst, 1879, 100,000 00 0 War Loan, 7 per et,, due Jan. 1,1888, 507,300 00 7. Outstanding Infernal ImprovcïiR-ui Warrant, 3,553 i I'UNDAIILE DEBT. 8. ?M0,000 outstanding part paid " $5,000.000 Loan," which, when fuaded will amonnt to, 80,999 80 Total funded and fundable debt $2,981,038 55 THE TRUST FUND DEBT Is made up of the tollo wing items to-wit : Prhuary School Fund, 1783,801 73 Unlversity Fund, 155,887 3;i Normal School Fund, 22,453 47 Eailroad Deposite, ' 2,217 32 Total, $964,359 85 During the past year, the balance of the " Penitenliary Bonds," araounting to 813,000, has been paid. Under the provisions of section 7, of 'An act authorizing a war loan," appruved May 10, 1861. and of section 1 of' " An act to provide a tax for interest on the war loan," approved May 10, 1861, the sum of -40,072 99 has been received, which is applicablo to the war onn zinking fund. The reqiiisite drawings of the numbere of our small war bonds, to be redeemed, was made on the first of October, and the numbers drawn have been advertised for redemption on the first day of January next. ([ annex a statement of the numbers designated for payment.) - This will reduce the "war loan" debt to $567,227 01. It will be further reduced by about $43,000, which will be applicable to tbb sitiking fund at the close of 1863. In pursuance of sec. 9, of " an act to próvida means íor the rodemption oi the bonds of the State, rnaturiog January lat, 1863, approved Mïrch llth, 1861," I issued a circular to the holders of sueh bonds inviting an exchange of the six per cents, authorized to be issued by the act. In response to this circular a portion of our bonds have been exclianged, and sealed proposals invitod íor the parchase oí the balance. Undor the law, these proposals are to bereceived on the firstday of December, ia the city of New York. Upon the completion of this negotiation, it 7ü be made the subject of a speciul report to the legislatura. TWO MtI;LION LOAN BINKIKS' FÜND. Under the provÍ6ÍonsAof section 4, of act No. 122, approved March 11, 1861, the sum of $21,506 98 has been levied in tho State tax of 1862, which wÜl be applicable to the sinking fund of l'two millioo loan " at the close of the year 1863. Section 6 of the same act'ajso provides 'Uhat all moneys which inay be paid into tho Treasury liter Jan'uary, 1863. to the . credit oí the ■Primary School, Normal School and University Punds, shall be set apart and in Hke manner applied lo the purchase of ' bonds issued undül' this act. This tviee and liberal provisión íir the gradual but certain retirement of our bonds has had the effect to advance theif value in the iiiarket, and to materially promate the credit of our State, which issoon to talie rankamong the most favorod in the land, It is therefore respeotfnlly suggeated that no legislation heroafter shouid be permitted, the eöect af which vvoulJ aliénate these funda frqm the olijoct oontempjatod nodor the law above referred to. AU of wliioli is respeotfally submittei by J. QWEN, TreasLiiür of the State. JL3ET In ancient days the precept was, " Know thyself. In moderu times, it has hoen supplanted by the far more fashionable maxim, "Know thy nyiyJibor, aud cycrythingabout him-" ■ 4 lady who hss been onmiziug law. is in th-3ï3 3P' fcarful, ner maridoubt regarUing t'it.gality oi' she says, tal condition. Just hear vLatirriago ia " Lotteries are illcgal, airVc !'' _ Bhottld the greatest lotteryjiit riglit 'va think the lady in ways t. lia l