dred and eighty-six dollars, nineteen cents, a schedule of which disbursements, with the proper vouchers, will be duly laid before you. It will be seen by this statement that the expenditures have exceeded the appropriation in the sum of $886 19. I had proceeded with the utmost precaution in order to avoid a result of this kind, but the increased expenses incident upon supplying the places of those workmen rendered unfit for duty in consequence of sickness, as well as unlooked for difficulties and expenses connected with the transportation of provisions, &c. rendered it impossible to make accurate estimates, for which reason, after the principal expenses had been incurred, I was under the painful necessity, either of leaving the work, at a season of the year most favorable to conduct the operations, or to exceed the amount appropriated for that purpose. Had a different course been pursued, the state would have been subjected to great loss and delay in the progress of the works, which has thus far been avoided, and notwithstanding the condition of the funds, I am still continuing the work, though in a manner which will render the expenses inconsiderable. The commencement of a work of the character of that under consideration, necessarily involves the expenditure of an amount, for the erection of houses and work shops, for clearing grounds, for machinery, for implements, &c. which must render the first expenses much greater than those which will follow. In consequence of the limited amount appropriated for that purpose, only a portion of this has been accomplished, and the sum which will be required for a successful continuance of the work will, therefore, be considerably larger than would otherwise be necessary. With a sufficient appropriation for the current year, we may hope to be able to make such additional improvements in the grounds as will be required, to erect work shops, &c., to complete the shafts to the rock, and secure them from the influx of fresh water, and unless some unlooked for accident should occur, to sink with the augur through four hundred feet of rock at each place, making the sum total as estimated, inclusive of earth excavation, nine hundred and seventy feet. There will be required for this purpose, under a system of rigid economy, the sum of $12,350, which estimate will include the amount of $886 19 before stated to have been advanced upon the work in progress. In closing this subject. I cannot refrain from alluding to the present state of the salt spring lands. The fact that we have a grant of seventy-two sections of land, located in different portions of the state, much of which might be made available, yet producing no revenue, is one which deserves attention. Situated as these lands now are, they are subject to constant waste from the loss of timber by intruders,-a source of loss which is daily increasing. Some portions of these lands, which will never under any contingency be required for salt purposes, may be made available by lease, at once, the only course which can be pursued in conformity with the act conferring the grant, while the measures now in progress will fully test the condition of the most marked springs, and either lead to a result which will add much to the prosperity of our state, or teach us that some other method will be required to render the large amount of salt lands held by the state of any real value. It is desirable, therefore, in order that the whole subject may be placed in that situation which will prove most beneficial to the state, that the works now in progress be pursued to a final result as speedily as possible, for until it be done, no decisive steps can be taken with any other than a portion of the lands, and the interest upon the amount which is thus lying idle would soon make a return of the amount expended by the state in making the improvements. With this view of the subject, laborious as is the task of conducting these operations, in connexion with the other severe duties I am called upon to perform, the task is made light by the hope that in the end it may not fail to lead to results of the most vital importance to the prosperity of our young state. All which is respectfully submitted. DOUGLASS HOUGHTON. (No. 2.) State Treasurer's Report. STATE TREASURER'S OFFICE, Honorable President of the Senate of Michigan: SIR In compliance with the laws regulating the duties of Treasurer, I herewith present the following statements of the business of this department for the year eighteen hundred and thirty-eight, viz: First. A staternent of the current expenses, for general pur poses. Second. A statement of receipts, from all sources, applied to the payment of the current expenses. Third. A quarterly account current with the general fund. Fourth. An account current with the sinking fund. Fifth. An account current with the contingent fund. Sixth. An account current with the penitentiary fund. Seventh. An account current with the Ypsilanti and Tecumseh railroad company. Eighth. An account current with the Allegan and Marshall railroad company. Ninth. A statement of the bank fund. Tenth. An account current with the internal improvement fund. Eleventh. A summary statement of funds on hand, and to what account they stand due. Twelfth. A statement of moneys received on account of sales of state stocks, and how applied. Thirteenth. An estimate of expenses for the support of government for the year eighteen hundred and thirty-nine. Fourteenth. An estimate of receipts applicable to the support of government for the year eighteen hundred and thirty-nine. The expenses of the state for general purposes, for the year eighteen hundred and thirty-eight, amount to the sum of one hundred and sixty-eight thousand four hundred and eighty-five dollars and nine cents, to which add balance due the Michigan state bank on the first day of January last, fifteen thousand sixty-seven dollars and ninety-two cents, makes the total expenses of the state for the year eighteen hundred and thirty-eight, amount to the sum of one hundred and eighty-three thousand five hundred and fiftythree dollars and one cent. The receipts from all sources, applied to the payment of the above, including eighty thousand dollars returned from the internal improvement fund, amount to the sum of one hundred and seventy-one thousand nine hundred and ninety-nine dollars and seventy-seven cents, leaving a deficit in the receipts to meet current expenses, of eleven thousand five hundred and fifty-three dollars and twenty-four cents, which has been made up by an overdraft on the Michigan state bank, and to which amount the state is indebted this day. I deem it my duty to present another view of this branch of the state expenditures, that the legislature may be made acquainted with the true state of this department, in this respect, and provide the means of meeting the contingency. By deducting the eighty thousand dollars returned from the internal improvement fund from the receipts, which has been applied to meet the current expenses, but which does not properly form a part of the ordinary revenue, it will be seen the actual amount received from all other sources, falls short of meeting the demands on the treasury for this branch of the public expenditures, in the sum of ninety-one thousand five hundred and fifty-three dollars and twenty four cents, which has been made up as before stated, by the eighty thousand dollars returned from the internal improvement fund, and by overdraft on the Michigan state bank for the balance. The ordinary receipts of the state, applicable to the payment of its current expenses, except from direct taxes, are limited, and even including taxes, are at present inadequate to the support of government. It will, therefore, be highly necessary, that this department may not be embarrassed for funds, that early measures should be adopted by the legislature, to provide for this branch of the public service. I submit statements of the probable receipts and expenses for the year eighteen hundred and thirty-nine; the former is estimated at one hundred and seventeen thousand six hundred and seventytwo dollars, and the latter at one hundred and twenty-four thousand seven hundred and seventy-eight dollars. Nominally, the amount of estimated revenue, including taxes due for years eighteen hundred and thirty-six and eighteen hundred and thirtyseven, and assessments for the year eighteen hundred and thirtyeight, is nearly sufficient to meet the estimated expenses of the state; but as a large amount of the revenue is to be derived from taxes alone, and as the taxes already due are probably from non-resident lands, and as the assessments for eighteen hundred and thirty-eight will not reach the treasury till quite late in the year, and perhaps be subject to the same contingency the receipt of taxes heretofore has been, delay in the collections and transmissions to this office, I would respectfully suggest, in order to obviate the difficulty which this department will labor under, for want of funds, that temporary loans be made from our banks, for a length of time sufficient to enable the taxes already due and coming due, for eighteen hundred and thirty-eight, to be made available to the treasury. The collection of the amount due from taxes for the years eighteen hundred and thirty-six and eighteen hundred and thirty-seven, may be much facilitated, by so amend ing the Revised Statutes, relating to the return of delinquent taxes to the Auditor General's office, and the issue of state stocks by the State Treasurer, that the taxes due previous to the adoption of the revised code may be included; by which means the state will, from the sale of its stock, in all probability, be put in funds at a much earlier period than by the ordinary mode of collections and transmissions through the several county treasuries; public convenience will also be promoted, and the treasury be more speedily replenished to the amount now due from that source. Including the balance on the first day of January, eighteen hundred and thirty-eight, to the credit of the internal improvement fund, amounting to eighty thousand five hundred and forty-three dollars and fifty-five cents, the receipts from sale of state stocks and the five per cent on the United States land sales, placed to the credit of that fund, amount to the sum of one million two hundred and sixty-five thousand five hundred and thirt -eight dollars and fifty-one cents; and the amount drawn from that fund is six hundred and seventy-nine thousand five hundred and fifty-one dollars and eighty-three cents, leaving an unexpended balance of [Sen. Doc.] 2 five hundred and eighty-five thousand nine hundred and eightysix dollars and sixty-eight cents this day. There is a balance to the credit of the sinking fund of eighty thousand five hundred and sixty-two dollars and forty-five cents, applicable to the payment of interest on state stocks issued for the purpose of interna! improvements. Under the "Act authorizing a loan of a sum not exceeding one hundred thousand dollars, for the benefit of the Ypsilanti and Tecumseh railroad company," approved April six, eighteen hundred and thirty-eight, sixty thousand dollars out of funds arising from the sale of state stocks, has been paid to said company, upon evidence filed in this office, that the securities required to be given had been perfected and filed with the Auditor General. Under the "Act authorizing a loan of one hundred thousand dollars for the relief of the Allegan and Marshall railroad company," approved April six, eighteen hundred and thirty-eight, the sum of sixty thousand dollars, from the sale of state stocks, has been passed to the credit of that company, subject to draft of said company, upon securities being perfected and filed according to the above act. Agreeable to law, state stocks have been issued during the year for the following purposes and to the following amounts, viz: Under "An act to provide for the relief of Detroit and Pontiac railroad company," approved March five, eighteen hundred and thirty-eight, the sum of one hundred thousand dollars has been delivered to said company, securities having been perfected and filed according to law. Under "An act to authorize a loan of a certain sum of money to the University of Michigan," approved April six, eighteen hundred and thirty-eight, state stocks for the sum of one hundred thousand dollars have been delivered to the Board of Regents, the requirements of the act authorizing the issue having been complied with. And under " An act authorizing the building of the state penitentiary," approved March twenty-second, eighteen hundred and thirty-eight, the sum of twenty thousand dollars, and the proceeds of which, amounting to the sum of twenty thousand eight hundred and fifty-three dollars and thirty-five cents, has been paid to the commissioners superintending the penitentiary, as per account rendered. Respectfully submitted. H. HOWARD, Treasurer. |