Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1863-01-22

Leaving balance in the State Treasury
to the credit of this fund, Dec. 3lst
1Sk2. of !

Leaving balance in the State Treasury
to the credit of this fund, Dec. 5lst,
Aoo1, VIZ 1l9,9l5 o.
The expenses oi the State government,
exclusive of the cost of permanent i'm
provements, such as the enlargement OF
the capitol, the additions to the state pris-
on, insane hospital, and other public insti-
tuuons, of The interest on State loans, of
the cost of supporting the varions benev-
olent institutions Of the State, has been
quite uniform during the past four years
Expenses for the year 1859, as shown
by Governors message of 1861 ...... SlSS,S36 46
Expenses for the year 1860, as shown
by Governors message of 1861 ..... 1871 O5
Expenses for the year 1861, as shown
by State Treasurer's eport of 1861 $50 535 Is
(The estimate for 1861 is for the fiscal
year, but will vary but little from the
expenses OF the calendar year.)
Expenses for 1862, for fiscal year.... 1S9, 996 81
calendar year.... 190,941 20
SCHOOL FUND.
Owing to the financial crisis of 1885,. and
consequent fall OF The prices OF ali landed
property, much OF which had held 3 high
imaginary and speculative value, the in
come OF this .und, which is devoted to the
support of the common schools. as well as
that of other trust funds Of the State.
whose income depends upon the receipt of
interest on lands sold on credit and on
loans made upon mortgage, has been
steadily decreased from year to year, large
torteitures OF lands sold occurring contn-
ually, because the purchasers of those
lands are either unwilling or unable to pay
the accruiDg interest on the balances up-
paid, thus increasing the unproductive
and decreasing constantly the productive
CaDital OF these funds,
The condition of the productive part of
this fund Sept. 3Oth, 1862, was as follows:
Due school land certificates. 2l2 $40 10
Due school fund loan ........ -. S97 425 Is
Du1 on swamp land certificates, S51S.-
537 81, of which one-fourth belongs
to the school fund 1854 81
Total fund......... .....S2, 219 EOS SO
The total productive fund on the Col
responding date OF the preceding year was
s., 45S, 35l 40, exhibiting decrease of
the productive capital OF tie school fund
during the past fiscal year OF $3.50, 445 90
This decrease shows the wisdom of the
law OF last year authorizing the invest
ment OF tie school fund in the boLds of
the State. While much and unavoidable
loss occurs constantly to this fuad from
loans made In small amounts to private
persons, no better and safer borrower can
certainly be found than the State, dimin-
ishlGg at the same time the expenses of
Infringement of the fund. Under this law
$65, 0C0 of the school fund have been i'll
vested in the bonds OF the State, but
these Investments were restricted to bonds
already issued at the time Of the passage
of the law. | would respectfully recon-
mend that the law be so changed as to a.
low the investment of this fund in any of
the bonds issued by the State of Wiscon-
sin, and call your particular attention to
the observations on that subject in the re-
ports of the Commissioners OF School and
University lands, and of the Supe.intend-
ent of Public Instruction.
The transactions in the School Fund
Income during the calendar year were as
follows:
Balance on hand Dec. 31st, 1861 ...... 24,S6O IA
Receipts. ............. .......... $50 OF 81
Total sum- 204,SSI IL
DisburSem 1901 10
Bal. in treasury Dec. 3Ist, 1862 49,. sSs,7o7 II
SWAMP LAND FUND.
The following are the transactions dur
ing the calendar year in the Swamp Land
Fund Income, which consists of the inter-
st arising from the swamp land fund: