to errors made by the clerk in copying original sheet of allowances in Second Comptroller's office, the draft issued was only for $39,023 78, which I forwarded by mail to your excellency. From various errors in Second Comptroller's office, and some additional evidence I have obtained since completion of last settlement, a small amount may be obtained from suspensions and disallowances in Second Comptroller's office, and if Congress pass a law to reimburse the Statos for interest paid on money borrowed and expended for the benefit of the United States, a settlement could be readily commenced, as the claim is already on file. It will be seen from the foregoing report that the amount collected since January 1, 1869, is................ $91,421 47 Amount collected by me previous to 1869... ... 233,655 53 ... Total collections made by me is.. ..$325,077 00 It gives me great pleasure to acknowledge the prompt and efficient assistance rendered by the Auditor and Adjutant General in the discharge of my duties. I have the honor to be, Your obedient servant, NORMAL, ILL., January 9, 1871. I. State Agent. REPORT OF THE FINANCE COMMITTEE OF HOUSE OF REPRESENTATIVES. FEBRUARY 16, 1871. To the Honorable the House of Representatives, in General Assembly met: The Finance Committee, to whom was referred the annexed resolutions, direct me to report that they have had the subject matter of said resolutions under consideration, and that they find that the Revenue Fund in the treasury of the State, on February 1st, 1871, after deducting all outstanding warrants to same date, amounted to $1,217,210 31 The estimated amount of revenue derived from the assessments for the years 1870 and 1871, amounts to In making this estimate the committee do not contemplate a higher rate of taxation for the year 1871 than 25 cents on the $100, on the value of $480,000,000, being the gross valuation for 1870. The two-mill State debt tax for the year 1870, will amount to.... The fund to be derived from the Illinois Central Railroad from November 30, '71, to November 30, '72, inclusive, is estimated at.. The amount of revenue from all sources, for the years It is estimated that there will be a deficit in the State And, also, a deficit in the Interest Fund, after the pay- The three items last mentioned, amount....... 2,002,500 00 864,000 00 710,000 00 $4,793,710 31 $67,154 38 113,517 50 598,698 71 $779,370 59 This should be deducted from the said $4,793,710 31, which will leave a net amount of $4,014,839 72, which will be in the treasury during the years 1871 and 1872, to be used to pay the current expenses of the State and such appropriations as this Legislature may make. The Committee direct me to further report that they find that the amount of the estimated expenses, and of the appropriations asked for and estimated for the years 1871 and 1872, amounts to $5,277,294 33, and that the amount of the appropriations recommended and estimated, and the estimated current expenses of the State for the years 1871 and 1872, is $3,955,762 63. Hereto annexed will be found a statement and a schedule prepared at the request of the Committee, by the Auditor, and are marked Exhibit A and B, and which are made a part of this report, and to which reference is made for a more detailed and extended statement. I am further directed by the Committee to report, that from an interview had with Mr. Bunn-one of the State House Commissioners -that the sum of $800,000 is all that can be judiciously expended on said building during the next two years. I am further directed by the Committee to recommend that the esti mated expenses, and the appropriations recommended and estimated in schedule marked Exhibit B, of this report, may be materially changed in detail, but they should not in the aggregate exceed the net amount of the revenue for the years 1870 and 1871, as shown by the statement hereto annexed and marked Exhibit A. All of which is respectfully submitted. W. L. MAYO, Chairman of Finance Committee. By MR. ROOT: Resolved, That the Finance Committee be and they are hereby directed to ascertain and report 1. The amount of money in the State treasury. 2. The amount that will probably be added thereto during the next two years, and the various sources from which the same will be derived. 3. The amount required for the next two years to pay the indebtedness of the State already incurred, and the various kinds of indebtedness, and the particular fund, if any, out of which the same or any portion thereof is to be paid. 4. An estimate of the probable amount of money required for all State purposes during the next two years, other than for the payment of indebtedness, showing, in such connection, the particular purpose. And that such report be made the special order in connection with the special order fixed for Tuesday next. Exhibit A. REVENUE FUND. Revenue fund in treasury February 1, 1871... Assessment, 1870-valuation..... Deduct for surplus and levee taxes-estimated valuation Leaves valuation for State tax (Rev.).... Deduct 10 per cent. for errors, insolvencies, com's, etc.. Net valuation for revenue tax, 1870.... 25 cent rev. tax on $400, 500,000, net valuation for 1870. 25 cent revenue tax on same, net valuation for 1871...... 2 mill S. D. tax on $432,000,000, net valuation for 1870 Total .... Deduct actual and estimated expenses to June 1, 1870.. Estimated amount revenue to be used. $1,229,774 63 12,564 32 $1,217, 210 31 $480,000,000 35,000,000 $445,000,000 44,500,000 $400, 500,000 1,001,250 00 1,001,250 00 864,000 00 $4,083,710 31 598,698 71 $3,485,011 60 STATE DEBT FUND. Amount State debt due and payable.. $2,997,440 47 Less 5 per cent. on registered canal debt, (estimated), paid by canal trustees Gold premium-estimated 11 per cent...... $328,291 80 London exchange on $1,043,488 87-estimated 8 per cent Expense of paying debt... 83,480 12 8,000 00 419,771 42 |