The Cass County Republican. [volume] (Dowagiac, Mich.) 18??-1880, 1861-02-07

the judgment of your committee, the
best interests of the State, no less than
the well-being of the Trust fund, de-
mands that as soon as the finances of
the State will allow, the annual receipts
from these sources should be withdrawn
from the General fund, and be safely
invested in the bonds of this or some
other State.
AS the tares of 1861 and 1862 will
not De received into the treasury, until
1862 and 1868, and must be relied upon
to meet the expenses of the govern
ment for those years, your committee
have prepared and herewith submit ia
bles showing the estimated revenue and
expenses of the State for the fiscal
years ending November 80, 1923.
Table A exhibits the estimated reve-
nue. and expenditure for the present
year, showing a deficit at the close of
the year of $lS4,593 81. Tables b
and G exhibit the estimated revenue
and expenses for the fiscal year ending
Nov. 80, 1861, showing deficit at that
time of S76, ,l4O IL. Tables d and E,
the estimated receipts and expenditures
for the fiscal year ending Nov. 80, 1868,
with surplus at the close of that year
of S5O,S SO.
These tables are made upon the basis
of State tax of two mills on the dol
lar valuation, for each of the years 1861
and 1862, and upon an estimated taxa
able valuation of one hundred and six
ty millions of dollars.
As the State board of equalization
does not meet until August, no positive
valuation can now be fixed upon; but
in the opinion of your committee, pru-
dence will not allow higher estimate
than S16O, 100000, this sum being one
million of dollars more than the aggre-
gate assessed value of the real and per-
sonal property of the State, as taken
from the records of the several counties
by the United States census marshal,
but the true valuation as estimated by
the late Auditor General would exceed
this sum by more than one hundred
million of dollars.
Should, however, the State board of
equalization fix the taxable valuation at
$3.50, 100000, the aggregate of the
State tax for 1861 and 1862. would be
increased $4,000 for each year, leav-
ing still a deficit at the close of 1852
of $50, ,14O II, but surplus at the close
of 1863, of S139, 800 SS.
Should the taxable valuation be fixed
at 5000, 900, 900, the State tax for 1861
and 1862, would be still further in
creased $4,000 for each year, leaving
surplus at the close of 1862, of S3,.
$50 SO, and at the close of the fiscal
year ending Nov. so, 1868, surplus OF
S2l8,SO9 SO.
The debt of Michigan is compare
lively small. The State has steadily
advanced in population, prosperity and
wealth. Few States possess so many
advantages to insure continued in
crease in population and prosperity, as
does Mich. Yet, truthfulness compels
us to say, that the present condition o
the State rs not free from financial EN-
barrassments. But this condition of oul
finances can be readily accounted for
/. From the fact that, during the las
six years, cery large appropriations
have been made to the Asylums anc
other State Institutions, without provid
ing taxation sufficient to pay them
Your committee have been not little
surprised at the facts which examina
tion has brought to their notice, an(
they have prepared table, herewith
submitted, (marked +, showing th,
amount of the State taxes for the las
six years-from 1855 to 1860 inclusive
land also the sums paid during tn,
, same period, to the six State Institu
tions. From this table it will be seer
that the aggregate State tax for the 81,
years, amounts to the sum Of $632,
456 40, and that, during the same period
there has been paid from the Treasur,
(including the sums now due upon ol,
appropriations and included in the es
innate of expenses for the presen
year, to the two Asylums, Reform
School, Normal School, Agriculture
, School, and the State Prison, the larg
sum of $93O,5l3 "A, showing that tn
State has paid to these six State Inst
tutions, during the last six years, $29s,
057 "a over and above the whole amour
, of the State taxes for the same period
1t is true that during the six years
, the debt to trust funds has been in
. creased,
To the Primary School fund s2oS, 800 9
University so, 669 9
\ Normal Hop Z
Total S274, e42
But, on the other hand, the funde
and fundable debt to the State has, dul
ing the same period, been lessened i
+ the sum of 1929, ,4O2 OF.
The deficit at the close of the preser
year may also be accounted for in Ar
! other way. The Legislature of ls5
u appropriated the money thereafter
be received from the sale of the swan
lands to the opening of roads and ditcl
: es, and to the reclamation of thes
D lands. But the Auditor G General hat
J, in his estimate of the revenues of th
s State for that year, included estimate
e receipts from the sale of these lands,
> To the amount of $l00, 900
= Add to this the deficiency in the
counts of the late State Treasur-
er, as per table A S0,043
II And the sum included in the same