74 The Financial History of Connecticut. 



To show clearly the complete change of policy during this period 

 in regard to the laying of duties and licenses, the average yield from 

 these sources from 1818 to 1833 is compared with that from 1833 

 to 1846. The average annual revenue thus arising during the former 

 interval has been shown to be seven thousand nine hundred thirty- 

 six dollars ^ ; but for the latter it was only three hundred eighty- 

 four dollars. 



4. Tax on Non-Resident Stock. 



In the alteration of the tax system made by the legislature at 

 its May session of 1819, non-resident stock of Connecticut insurance 

 and turnpike companies, as well as non-resident bank stock, was 

 subjected to state taxation. Such stock was to be listed at six per 

 cent of its value and all taxes arising from it were to be paid into 

 the state treasury. ^ This method of taxing non-resident stock 

 was changed in 1830 in such a way as to increase greatly the revenue 

 coming from this source. From April 10, 1818, until March 31, 

 1830, the total amount raised by this tax was eighty-seven hundred 

 dollars, an annual average of seven hundred twenty-five dollars. 

 In 1830 a law was passed directing banks and insurance companies 

 to pay to the state treasurer a tax of one-third of one per cent on 

 the value of aU their stock held by non-residents of the state.^ The 

 next year this tax was raised to two-thirds of one per cent.^ Under 

 this law the tax on non-resident stock yielded from March 31, 1830, 

 until March 31, 1846, the sum of forty-five thousand seven hundred 

 sixteen dollars. This is an average of two thousand eight hundred 

 fifty-seven dollars per year, which is almost four times as much 

 as the average under the old law, and it shows the efficacy of the 

 new method as a producer of revenue. 



5. Forfeited Bonds and Avails of Court. 

 The receipts from forfeited bonds, fines and avails of court for 

 this period were seventy-one thousand sixty-three dollars. This 

 is an average of two thousand five hundred thirty-eight dollars a 

 year, an increase of a little more than one thousand dollars over 

 the average for the years 1798 to 1818 inclusive. 



6. State Prison. 

 A new source of revenue appears during this period in the state 

 prison. In 1827 the state built a new state prison at Wethersfield 



1 Of. p. 73. 



'"■ Public Statute Laws, May 1819, chap. 2, see. 11 



•^ Public Statute Laws, May 1830, chap. 28. 



■^ Public Statute Laws, May 1831, chap. 27. 



