APPENDIX. Annual Report of the State Treasurer. STATE TREASURER'S OFFICE, To the Legislature of the State of Michigan: } Herewith is submitted statements taken from the books of our office showing the amount paid into the treasury to the credit of the several "funds," and the amount drawn from them during the past fiscal year, ending November 30th, 1847. The balance on hand at the close of the year is $64,470,33, of this amount $4,731,17 is deposited in the Phoenix Bank, New York, to the balance of interest due for 1846 & 1847, on that portion of Michigan state stock, issued on account of the "five million loan," which has been acknowledged and adjusted, leaving a balance of $59,739,16 remaining on hand. The Auditor General reports $2,165,88 of outstanding warrants drawn on the general fund. All demands upon this fund have been promptly paid during the past year, with the single exception of the interest on a portion of the general fund state stock held by one of the departments of the General Government, which was not paid, as the state clains damages for interruption of work on the Saut St. Mary's Canal, by the General Government, which is unadjusted. Attention is called to this subject in the report of the Auditor General. Public notice was given through the state paper on the 9th day of July last, to the holders of treasury notes, (state scrip,) bearing interest, that funds were on hand for their redemption, on presentation at the state treasury, and that interest would cease from the date of the notice, in accordance with the provision of "act No. 65, 1841," under which they were issued. There has been cancelled and burnt during the past year, $23,274,00 of state scrip, leaving a balance of $1,726 unredeemed and outstanding. Under the 7th section of the act incorporating the Michigan Central Rail Road Company, they were permitted to deposite in certain cases with the State Treasurer, money which had been adjudicated for "right of way." They have paid into the treasury $1,699,02, for which they hold my receipt as State Treasurer. This amount is not charged to this office on the books of the Auditor General, neither are the receipts countersigned by that officer, as is done in every other case of moneys received into the treasury, and which has always been by our laws deemed so essential as a proper check upon the receiving officer, as there is no law authorizing or requiring him to do so. As a portion of this money may remain for many years in the treasury unclaimed, on account of minor heirs or defective or disputed title, I would respectfully suggest that provision by law be made for its safe keeping and proper disposal. Heretofore the interest due semi-annually on the 1st day of January and July on the "university state stock" was paid in May for the whole year. The university fund not being prepared to meet the January interest when it became due, as its annual collections of interest were not made and paid into the treasury until March and April following, by anticipating, (which I shall do,) the amount payable on the 1st of February from the Michigan Central and Southern Rail Road Companies, as a specific state tax, a portion of which is set apart for this purpose by law, an amount sufficient will be sent forward in time to pay the interest on this stock due January 1st, 1848. GEO. B. COOPER, State Treasurer. |