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Annual Report of the State Treasurer.

STATE TREASURER'S OFFICE,
Lansing, December 1, 1849. (

To the Legislature of the State of Michigan:

I transmit herewith statements showing the condition of the sever al funds for the fiscal year ending November 30, 1849.

The balance in the Treasury is $55,957 47. During the past fiscal year every demand upon the "general fuud" has been paid upon presentation, and all of the interest due on the adjusted portion of our State debt, with the exception of $342 12, which has not been presented for payment, and the interest due on $72,000 of our State bonds held by the general government. The five per cent. due us for lands sold within the State, and the advances made to volunteer regiment, say nothing of other claims dae us from the general govern ment, will more than counterbalance the interest due on these bonds The interest due January 1st, next, on our State bonds, amounts to $18,024 03, which will be paid at that time. There is also $47,327-20 of principal of State bonds due January 1, 1850. From our collections into the Treasury during this month, I trust we shall be enabled to pay all of the demands made upon the general fund, with the exception of a small portion of the bonds due January 1st, next, and these during the next month. The difficulty at the present time, in not having the means to send forward to pay these bonds promtly at maturity, arises from the advances made to meet the interest due and past due on our State indebtedness during the last year. While a portion of the interest paid upon our State debt is raised by a tax levied and collected before it becomes due, a part of the interest, if paid

as it falls due, has to be met by an advance from the general fund before the tax can be levied under the present laws. This is a source of great embarrassment to the Treasury, and must increase under the present laws, as we are issuing bonds for internal improvement wrrrants, and the part-paid "five million loan" bonds. I will report at an early day of the session on that part of my daties connected with the banks.

GEO. B. COOPER,

State Treasurer.

Treasurer of the State of Michigan, in account with the State of Mich

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