The State Finances

That the State treasurer's report reoently published shows a sound and safe condition of the State's fiuances is unquestionably true ; but that it show the maiiageictmt of those finances to be econoiuical and sagacious, as one of our enthusiastic cotemporaries seems to think, is not by any raeans so clear. There is certainly no showing of eoonomy in the fact that the expenses of the State governmetit for the year ending September 3Oth, 1873, were 2,31Ö,942.11, while for the year previous they were only $1,898,386.80. It is true there was a long session of the Legislatura during the year just cdosed and only a short one in the year previous ; but the gross amount of the expenses justly ohargeable to that account do not equal one-fourth of the total increase over last year. The treasury departnient is proba bly not responsible for the increase, nor do we care to claim that it is chargeable upon any one as an extravaganoe. All that we coutend for now is that it does not show any wiiwinmv. There is still lesa to be said of the sa ■ gacity displayed in managing the State finances. Although there has been $570,OüO expended during the year inpaying thebonds of the State, the State debt has not actually been reduced by that amount. The bonded debt on September 30, 1872, lesa cash in the Treasury applicable to its payraent, was $1,534,302.37. September 30, 1873, the bonded debt, less the cash in the treasury, was $1,358,865.50, or only $174,436.87 less than the year before. ïhis state of affairs does not indícate any peculiar sagacity in managing the State nuances ; neither does the fact that there is nearly $400,000 in the treasury, after meeting all niaturing liabilities to be applied to tho purchase of State bonds when they can be bought at par. Tuertare no bonds of the State which mature before 1878, nor any upon which we are paying a greater rate of interest than seven per cent.; and to the people of tho State, it looks like the poorest of policy to draw nioney from them ïli the foriu of State taxes to be kept in the treasury until it an be used in anticipating the payment of six and seven per cent. bonds. What do the poople of Wayne Couuty, tbr instance, think of the sagacity which has taxed them some $50,000 more than isnecessary for State puiposes, and which keeps their money in Üm treasury to pay debts not yet due. The keeping of a large Burplus in the State treasury is not a new feature in the management of State finances. The only object to be gained by it is the favoring some few pet banks with large deposits at a low rate of interest. How large the surplus averages can be estiruated with tolerable ease from a glance at the interest account of the last two years. In 1872 the amount received for surplus funds was $28,095 05. As the banks with which these funds were deposited paid only four per cent. interest, the average must have been equal to more than $7(!0,000 for the entiro year. In 1873 the intereBt on the surplus funds was $32,278. 43, which representa an average surplus, at four per cent., of more than $806,000. With such a surplus as either of these, if deposited wilh solvent banks or properly secured, the State might well feel its financial condition to bosafe, but that the keeping of such a surplus is either necessary or wise we do not believe. - Free Prees. The Saratoga hotels are now all closed, the Grand Union included. The town looks dull and dreary, and the streets are ankle deep with autumn leaves. Work npon the new United States Hotel will continue all winter, and in June, 1874, the magnificent establishment will bethrownopon to the public with approate ceremonies. Col. Boutwell, formerly proprietor of a Montpelier hotel, was called upon to testify at the liquor pro6ecutions there, recently, and, being asked if he knew of any liquor boing sold in Montpelier, bluffly replied that he had sold liquor to eight of the twelve jurymen then impanneled. He was not questioned further. The hop erop of the year has been harvested, and amounts to 11,800,000 pounds in the entire country, of which New York furniHhes more than half, 6,000,000 pounds. The demand will require in addition, the iniportation of about 8,000,000 poundi.