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LANSING:
JOHN A. KERR & CO., PRINTERS TO THE STATE.

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REPORT.

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STATE TREASURER'S OFFICE,

Lansing, Nov. 30, 1866. The Treasurer of the State of Michigan has the honor to submit to the Legislature his annual report: The balance of cash on hand, Nov. 30, 1865, was.. $468,401 81 The receipts of the fiscal year are, ..

1,901,990 69

$2,370,392 50 The total payments for the fiscal year were,..... 1,791,385 18

Leaving a balance in the Treasury, of..

$579,007 32

Annexed hereto is a statement of the sources from which the money was received, and the accounts for which the payments were made. I also add the ledger balances, showing the condition of the various funds and trusts.

WAR FUND.

During the past year I have issued $370,000 of “war bounty bonds,” under the provisions of “an act authorizing a war bounty loan," approved March 2d, 1865. Of this sum, $118,000 was exchanged for soldiers' bounty certificates, by an arrangement with the Quartermaster General, as stated in my last annual report, and the balance, $252,000, I purchased for the sinking funds, and for the investment of the proceeds of the educational trust funds, as provided by act No. 134, of the laws of 1863, and act No. 309, of the laws of 1865. As the expenditares for the war are now nearly closed, it is not probable that any further issue of bonds will be necessary; but in case the amount now in the hands of the Quartermaster General, and to the credit of the war fund, is insufficient to pay the bounties yet

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due, provision of law should be made for supplying the money from the general fund. As the Auditor General's signature to the coupons, on the war bounty bonds” last issued, was engraved, they could not be used hereafter, and I have destroyed all the remaining sheets. A new bond will have to be engraved and printed, in case you decide to issue new bonds, for any deficiency that may occur, rather than supply the money from the general fund.

STATE DEBT.

On the 1st day of January, A. D. 1861, the funded and fundable debt was as follows, to wit: 1. Penitentiary bonds,..

$13,000 00 2. Internal Improvement warrant bonds,.

50 00 3. Full paid five million loan bonds,..

177,000 00 4. Adjusted bonds,

1,737,185 00 5. Temporary loan bonds,.

50,000 00 6. Renewal

216,000 00 7. Canal bonds,

100,000 00 8. Part paid five million loan bonds, adjustable at 91,992 63 9. Outstanding Int. Imp. warrant bonds,

3,615 16

Making a total amount of.....

$2,388,842 79

Since January 1st, 1861, the following new loans have been issued, to wit: Two million loan, Act of March 11, 1861, issued

in liquidation of adjusted bonds, and 5,000,000 loan,....

.$2,000,000 00 War loan, Acts of May 10, 1861, and March 14, 1863,....

1,249,400 00 War bounty loan, Act of Feb. 5, 1864,...

500,000 00 March 2d, 1865,... 715,000 00

$4,464,400 00 Adding the debt as per the preceding statement, 2,388,842 79

$6,853,242 79 During the above period the following amounts of the above bonds, have been redeemed and canceled, to wit: Full paid "5,000,000 loan bonds,".

$165,000 00 Adjusted bonds,.....

1,733,185 00 Part-paid 5,000,000 loan bonds,

19,671 38 Penitentiary bonds,

13,000 00 Internal Imp. warrant bonds, ..

50 00

3,615 16 Temporary loan bonds, .

50,000 00 War loan bonds,..

136,800 00 War bounty bonds, (Act of Feb. 5, 1864,)... 500,000 00 War bounty bonds, (Act of March 2, 1865,).... 252,000 00

Total of payments,

.$2,873,321 54

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6's,

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Which leaves the funded and fundable State DEBT AT THIS DATE, as follows: Sault Canal Bonds, 6's, due January 1, 1878,.... $100,000 00 Renewal Loan Bonds, 6's, due January 1, 1878,.. 216,000 00 Two Million Loan Bonds, 7's, due Jan. 1, 1868, 250,000 00 6's, « 1, 1873,

500,000 00

1, 1878, 500,000 00 6's, “ 1, 1883,

750,000 00 War Loan Bonds, 7's, due Jan. 1, 1886,.

1,111,500 00 War Bounty Bonds, 7's, due May 1, 1890,

463,000 00 Adjusted Bonds, past due,...

4,000 00 Full paid Five Million Loan, past due, .

12,000 00 War Loan Bonds, called in Jan. 1, 1866,..

1,100 00 $125,000 of Unrecognized Five Million Loan Bonds, past due, and adjustable at

72,321 25

Total bonded debt, Deduct debt of Jan. 1, 1861,.

$3,979,921 25

2,388,842 79

Showing net increase of bonded debt, during past six years, .......

$1,591,078 46

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