Detailed estimates of receipts and expenditures' have been prepared, purporting to set forth the receipts and expenditures, under laws now in force, for the several years ending respectively, November 30, 1871, November 30, 1872, and November 30, 1873. From these estimates it appears that there will be a balance in the treasury, November 30, 1872, of $892,146 96. It is necessary, however, when determining the amount that, with resources unchanged, may be expended, within the two years ending on that day, for the purposes not enumerated in the table of estimates,' to keep in mind that one month later, -January 1, 1873,-$459,000 00 of the Two Million Loan matures; that $55,950 00 of interest upon the bonded debt accrues on the same date; and that funds with which to pay these demands must be drawn principally from said balance of $892,146 £6. The tables of detailed estimates were prepared before the general tables appended to this report were completed, and hence, before data by which to test the accuracy of the general result thereof were at hand. But from the tables since completed, data by which to test the work of the estimates is furnished, and the following computations have been made to that end: Thus: During the year closing November 30, 1869, the State Bonded Debt was reduced3___ During the year ending November 30, 1870, the reduction therein amounted to.. $570,500 00 658,550 00 $1,229,050 00 $1,130,227 15 Aggregate reduction during two years.. 30, 1868, was 1 Estimates of Receipts and Expenditures, Appendix, p. 46-47. 2 State indebtedness, Appendix, p. 4. The Treasury balance, November 30, 1869, was.. Showing a reduction in Treasury $834,089 72 balance, during the year, of... $296,137 43 The Treasury bal., Nov. 30, '69, was. 8834,089 72 The Treasury bal., Nov. 30, '70, was. 458,307 97 $375,781 75 Reduction during the year.......... Showing a reduction in the Treasury balance during the two years ending Nov. 30, 1870, of. Deducting from amount by which bonded debt was reduced during same period, and it ap- There accrued, upon the bonded debt, during present amount, will be... 1290,720 00 Showing a falling off in the am't of int. upon the bonded debt for the two years ending Nov. 30, 1872, as compared with the amount thereof for the two years just closed, of... $671,919 18 $557,130 82 98,593 28. During the two years just closed there has been paid from the State Treasury, under the provisions of special appropriation acts, amounts as follows: For 1869: 1 General Fund appropriations $181,737 32 Univ. Aid, in excess of $15,0002 Asylum Fund 23,197 02 144,900 00 $191,930 32 Total amount for 1870... Aggregate of appropriations paid during two years 1 Statement G, Auditor General's Report, 1869, Appendix, p. 54. $541,764 66 2 University Aid Fund, Auditor General's Report, 1869, Appendix, p. 16. 3 Asylum Fund, Auditor General's Report, 1869. Appendix, p. 28. 4 Statement G, Appendix, p. 63. 5 University Aid Fund, Appendix, p. 20. 6 Asylum Fund, Appendix, p. 30. Assume that the Treasury receipts during the ensuing two years will correspond with those for the two years just closed'; then, if the expenses for all purposes-except such as are covered by the amount of the above extreme extensions-during the ensuing two years should also correspond with those of the last two years, the sum of said extensions would represent the balance to be found in the State Treasury, November 30, 1872. The balance would then be...... $1,197,488 76 While, however, the receipts to the Treasury for the two biennial periods above considered, from all sources,—except from that of direct taxes,-will correspond very nearly, there will be a falling off in the receipts from this source during the ensuing (present laws and rates continuing), as shown by the statement following: 1 STATEMENT of Amount of Cash Receipts to the Treasury, from all sources, from 1861 to 1870, both years included. a Tax of 1860, not received until 1861; the same of amounts following. b Amount refunded by U. S. on account of War Claim. 66 2 In this computation, and also in those following, no account is taken of receipts in column"From Sale of Bonds"; hence the phrase Receipts from all sources other than direct Taxes" will not be construed as covering receipts in the column "From Sale of Bonds." Deducting this deficiency in receipts from amount as above, and there remains, as balance in Treasury, November 30, 1872... Again: $394,310 22 $803,178 54 $1,229,050 00 The reduction in the bonded debt during the two years just closed amounted to..... The balance in the treasury at commencement of said two years-November 30, 1868-was '1,130,227 15 The reduction in amount of bonded debt has Interest accrued upon bonded debt during $98,822 85 |