Litchfield enquirer., 1868-05-14
FINANCIAL CONDITION. b

Tho financial condition of the State, as exhlted by the Treasurer's report at the close of the fiscal year ending March 31st, lS6o,, Is encouraging and satisfactory It shows that with proper economy in the sev- eral branches of the puEa4s expenditure, our State debt may be reduced in few years, to such proportions as to Ibe entire- ly manageable under much smaller and less burdensome tax than is now imposed upon the people. Notwithstanding the experiment of reducing the State tax from three and half to three mills on the dol lar, and tho virtual abatement by the last General Assembly of the individual polls from the grand list, sufficient revenue has been realized to defray tho entire expenses of the State, and, at the same time, leave an unprecedently largo balance in the hands of the Treasurer, with which to re- duce the public indebtedness This grati- flying result has been reached under cir cumstances the less encouraging, from tho fact that the debenture and contingent ex- penses of the last General Assembly were nearly third larger, by reason of the length of the session, than the previous year-and the appropriations, especially to the General Hospital for the Insane at Mlddletown, such as to create serious ap- prehension, at the time, that tho financial condition of the State would show any thing but favorably at the close of the fis- cal year.
 It appears, from the report Of the Treas urer, that at the commencement of the last fiscal year, the entire funded debt of the State amounted to nine million eight hun dred and twenty-eight thousand four hun dred dollars. ($9, ,828, ,400.) Deducting from this the amount placed to the credit of the Sinking Fund bonds, burned by order of the last General Assembly, ($l. l.2S4, ,3O7 .35), the amount of the bonds since purchased and destroyed, ($123, ,OOO.OO, the market value ot the bank stock owned by the State, ($383, ,OOO.O and the cash on hand at the close of the fiscal year, ($713, ,455. 94), leaves the present liabilities of the State, over and above assets, seven million three hundred and twenty-four thousand two hundred and thirty-six dollars and seven- ty'one cents, ($7, ,324, ,236.7D. From which it will be seen that the actual reduction in the State debt during the year. was $337,- 34O.S5, against S317 7,O70 the previous year.
 The State tax of three mills on the dol lar realized the last year, a revenue of nine hundred and twenty. nine thousand three hundred and twenty-three dollars and ff- " cAA.So SoAoos ARoA0,oAO.OO,j <auu tu6 cOu- mutation tax, the sum of fifty-two thous- and six hundred and thirty dollars. lS52. 63O). The total receipts from other sour ces amounted to six hundred and four thousand five hundred and eighteen dollars and seventy-eight cents,e f$604, ,518.7 .78) of which amount $2OS, BOA. .6S was from the savings banks, $2O7, ,963 from the railroads, $64. 466. p from the mutual insurance com panies, and $39, ,478. 15 from taxes on non- lresident stock-making the total receipts for the year one million five hundred and thirty-three dollars and thirty-one cents, lSl, 533, S42.31, against three million five
 hundred and forty-six thousand four hun
 dred and seventy dollars and sixty-one cents, ($3, ,546, 470.6D the previous year.
 In addition to this there is now due from the savings banks of the State, and collect
 able under aJrecent decision of the Su-
 preme Court of the United states, about
 one hundred and thirty thousand dollars in
 communication taxes from the several towns
 in arrears, &- Lac .
 The total expenditures during the las,
 year were one million four hundred and l twenty-two thousand two hundred dollars
 and sixty-three cents, ($1, ,422, 200. .e3) against three million four hundred thous
 and nine hundred and ninety-nine dollar, 1 anu AAoSty-ono 4c6ntS, t$o, 4OU, ,SS9.Sl) -tnf previous year. Of this amount, $517, ,963
 00 was paid in interest on the State bonds and $l5O. 900. % in appropriations to th' General Hospital for the Insane at Middle
 town. ,. ls ".'4s- iisiI : 4etaa .o'1 | The balance, in the treasury, remainin, to the credit of the civil list account on tn
 lst of April, 1868, was five hundred ant thirty six thousand six hundred and sixty
 eight dollars, and sixteen cents, ($536, ,66s l6h against four hundred thousand thous