NEW HAMPSHIRE (October 1, 1869).-$2,749,200. INDIANA (October 31, 1869).-$5,460,597 61. The debt of the State during the past year has been reduced by $1,734,488 33. On or about July 1, 1870, there will be a further liquidation of that debt to the amount of $500,000 or $1,000,000. The policy of the State is to withdraw all its bonds now in the market, and reinvest them in the School Fund. MISSISSIPPI. This State issued, about thirty years ago, $7,000,000 of bonds in favor of several banks, all of which have repudiated. There is also a partially recognized debt contracted in 1858 in aid of railroad construction, which amounts to $2,275,000, and twelve years' unpaid interest at 7 per cent. It is claimed that the stipulated value was not received, and that the State is not therefore in honor bound to pay the whole amount. A proposition to devote 500,000 acres of lands owned by the State to the full liquidation of the debt is to be voted upon by the people on the 31st May, 1870. RHODE ISLAND (April 19, 1870).-$2,916,500. Since September, 1, 1868, the debt has been reduced by $172,000. 6 Apr. & Oct. Oct. 1, 1871 Providence $500 6 Mar.&Sept. Sept. 1, 1882 Providence 1,100,000 6 6 Apr. & Oct. April 1, 1883 Providence 239.000 736,000 6 Feb.& Aug. Aug. 1, 1894 Providence 841,000 WISCONSIN (October 1, 1869).—$2,252,057. The greater part of the State debt is not redeemable, the same being a permanent provision for the support of schools. OHIO (November 15, 1869).-$10,016,581 86. The The debt has been reduced during the year by the sum of $516,093 57. Commissioners of the Sinking Fund have also purchased of the loans of 1870 $19,000; of 1875, $29,700; of 1881, $111,943 59—total, $160,643 59, which they can cancel at any time, or exchange for loans matured or to mature in a short time, as they should deem best for the interests of the State. ILLINOIS (December 1, 1869).-$5,124,995 64. 1847. 1847. Interest Bonds.. Various..... Internal Improvement B ds (old). 6 Jan. & July After 1870.. New York.. 46 In 1870. $2,000 00 1,607,811 20 1877. 982,426 33 279,000 00 6 6 Mar.&Sept. 1879. 1879. 66 1879. 45,000 00 (in $5008).. (in $1008).. 6 6 46 * 1879. 1839 ** 1879. 57,333 33 46 1840 "regis'd "1870. 219,600 00 £100 stg... 66 1870. "1870. £225 stg.. 6 Apr. & Oct. "regis'd 6 $1,000.. 6 Jan. & July 66 1841 Bonds called in, not surrendered 2,136 00 Since December 1, 1869, and up to May 1, 1870, the State debt has been reduced by about $350,000. During the year 1868-69, $799,411 14 was paid on the principal of the bonded debt of the State, or including payments made by the Canal Trustees on the registered Canal bonds, the principal of the State debt bonds reduced $864,162 87. The State receives from the Illinois Central Railroad Company seven per cent. of the gross earnings of that road, in consideration of the grant to it of its lands. The revenue from this source amounted last year to $464,933 31. The following table gives the aggregates of county, town and township and city debts: Of the above, Chicago has issued $11,080,500, and Cook County, of which Chicago is county seat, $2,818,300, or more than a third of the whole. MICHIGAN (April 30, 1870).—$2,505,528 49. Sinking Funds-War Loan Bonds, 1-16th, and Two-million Loan Bonds, 1-8th mill tax on the dollar of taxable valuation. The Trust Funds are chiefly composed of State bonds purchased with their revenues. In this manner the Government designs to withdraw its bonds from the market. The interest-paying debt, which, on November 30, 1868, amounted to $3,571,500, stood, on April 30, 1870, at $2,401,000, the difference, $1,170,500, having been absorbed by the Trust Funds. SOUTH CAROLINA (November 1, 1869).-$6,667,793 68. CONNECTICUT (April 1, 1869).-$6,674,992. Of the original debt $3,025,008 have been canceled by the operation of a sinking fund, leaving outstanding $6,794,992. There are also war claims against the General Government amounting to $200,000, applicable to the reduction of the outstanding debt. Under an act of the Legislature the Treasurer is authorized to issue registered bonds in exchange for coupon bonds. |