The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-01-09

$3.50, $50 90
Estimated payments for the same
period, viz -
Common school dividends. s2S5, 600 %
The capital Of the Common School Fund has
advanced from 81 2i3, 563 80. on the Both of Sep
TENDER, 1919, to 81 go 673 %, on the 30th Septe IN
ber 1880, being an increase Of 81, IO9 81, during
the last fiscal year. (See statement F.) The re-
venue of the fund, during the same period, lin
GLIDING the annual contribution of Sl65, 900, from
The Deposit FUND.- was $500, 1872 10. being an in
crease OF revenue. as compared with the preceding
year, Of sl5,SSS "a. After paying all charges on
he revenue, balance remained in the trea.
sury on the Both OF September last Of $l62 762 03
cal year will be 1886, $50.
The Comptroller deems il safe to recommend
that the annual dividend from the revenues Of this
fund for the support Of common schools be in.
creased from s2s5, COO to $4,000. After making
ample allowance for contingencies, il is believed
the present condition of the fund will justify the
proposed increase; and the yearly addition Of S25,
0O0 TO the capital from the income of the Deposit,
Fund, viii gradually produce the means for eai arg
ing still further the amount of the annual distribu'
ton.
LOAN OF 1892 AND 1909
The Loan Commissioners have proceeded, with
commendabe diligence and fidelity, in executing
the act, passed April TO- 1880 requiring these loans
10 be closed by transferring the mortgages, under
certain conditions, TO the Commissioners of the
United States Opposite Fund. On the 30 Of Septem-
Der there was still outstanding, on the loan Of
1872 $l7,9s2 SO, and on the loan OF lS0S, S2l 757
Il. These amounts have been considerably re-
duced since that day. But il is asceftained that
come losses vii he sustained from failures Of title
insuffciency Of security and delinquencies of COM
mifsioDers In former years.
Every effort has been made to secure the amounts
thus placed in jeopardy. For portion OF the de.
fciency, the counties are liable to the State, under
the original acts and the subsequent provisions EN-.
bodied in the Revised Statutes.
It's tor the Legislature TO determine to what
n HfSNf NE haL. kali L.
the capital Of The Common School Fund, when
definitely ascerained, should be restored from the
accumulation Of revenue now in the treasury. After
the passage OF the act Of April 10, 1850, instructions
were issued 10 the Loan Commissioners, from this
Office, OF which copy is hereto annexed, (marked
CO
UNITED STATES DEPOSIT FUND.
The capital Of this fsnd Is believed TO be in a
sound and healihful condition. The original in
vestmen OF principal being 81 OIL $50 IL has been
preserved entire, all losses having been restored to
the capitol BY the transfer of equal amount from
the current revenue.
u was shown Ia the last annual report from this
Office that the appropriations made by the Legisa.
fure including special grants 20 literary institutions
exceeded the revenue by t23,6s3 3d. This de-
hciency has been reduced to 1913 g. at the close
Of the last fiscal year II is estimated that the
revenues OF the present fiscal year. after paying all
existing appropriations, including the ordinary dis
ribu,ion TO common schools and academies
$1,000 for the Normal school, and o. 600 to asa
denies for instruction ~ common school teachers,
will have surplus Of ell al6 80 at the disposal Of
the Legislature
II is hoped that the income Of the fund for the
current year may be increased beyond the esti-
mates. by the efforts Of the commissioners 10 dis
pote Of the remaining lands bought in for the State
on foreclosure Of mortsges A circular was issued
from this office in March last (of which copy 10
hereto annexed. marked H. urging the commits
sorers To effect sales of these lands as speedily az
practicable and TO take proper steps for the reco
very OF dehclencies due the State on account Of
this fund. Express authority should he given to
the Comptroller 10 compromise and settle with
insolvent or embarrassed debtors for balances re
naming due 70 the Deposit Fund after a sale Of
the mortgoeed property.
UNITED STATES DEPOSIT FUND.
Capital (See statement J
This fund consists ~ the following items, viz
Loans on mortgages in the several
COUNTIES IS, tpU.s Isl 30
State stock, redeemable Let January,
1900, D per cent. ........... 142 500 90
State stock, redeemable LIST July, 1860,
:, 6per cent. .."..... ......... 100 90
Comptroller's bonds, payable on de-
,mand, at g per cent. 33i,739 -
money IN The treasury .............. 1928 81 |
st,0l4,52O III |
Balance due the treasury on the Goth
september, lSi9... -. 1865 50
Amount Of payments from
the treasury during the
yer ending Both Sept.
1850, (see statement b. 255.l50 90
AMOUNT transferred to the
capital a. The fund for d.
mi mutton in the loans I'M
der foreclosure Of mort
cages and failure Of title 1882 10
-. . --ssse,l1 GO
AMOUNT received into the
treasury during the year
ending 10Th Sent. 1870