502 



MICHIGAN. 



in anticipation of the maturity of the bonds, 

 by far the larger proportion of them having 

 yet sixteen, and the war bounty twenty, years 

 to run. 



The now outstanding bonded indebtedness is 

 as follows : 



Two million loan bonds, 6's due Jan. 1, 1873 $459,000 00 

 Two million loan bonds, 6's due Jan. 1, 1878 437,000 00 

 Two million loan bonds, 6's due Jan. 1, 1883 726,000 00 

 Renewed loan bonds, 6's due July 1, 1878 160,000 00 

 War bounty loan bonds, 7's due May 1, 1890 478,000 00 

 Canal bonds, 6's due July 1, 1879 83,000 00 



Total Interest-bearing Bonded Debt. . . $2,343,009 00 

 Matured adjusted bonds, interest stopped, 



payable on demand 3,000 00 



Matured, full paid, 5,000,000 loan, interest 



stopped, payable on demand 3,000 00 



War Loan Bonds, interest stopped, payable 



on demand..... 3,05000 



Outstanding, part paid (unrecognized) 



bonds, $57,000 adjustable at 32,978 49 



Aggregate Bonded Debt of the State .... $2,385,028 49 



The provisions for meeting the payment of 

 the instalment of the two million loan ma- 

 turing January 1, 1873, are 



Balance to credit of two million loan Sink- 

 ing Fund, November 30, 1870 $312,867 07 



Anticipated receipts thereto, during 1871 148,495 73 



Anticipated receipts thereto, during 1872.. . . 148,495 73 



Giving for available means prior to ma- 

 turity of bonds $609,858 53 



Deductinz amount of instalment due Jan- 

 uary 1, 1873 459,000 00 



Surplus of resources of Sinking Fund over 

 requirements for coming two years $150,858 53 



An amount which may be invested*in the pur- 

 chase of bonds in anticipation of their maturity. 



The amount of the reduction in bonded 

 debt, as stated above, does not fully measure 

 the relief to the Treasury from future de- 

 mands on account of such indebtedness. 



Attached to the bonds outstanding Novem- 

 ber 30, 1869, were unmatured interest cou- 

 pons, amounting, at their face, to $1,723,527 93 



November 30, 1870, the amount of such cou- 

 pons was 1,539,270 00 



Showing that, consequent to the reduction in 

 the amount of the Bonded Debt, is a reduc- 

 tion in the future demands npon the Treas- 

 ury, on account of such debt, of $184,257 93 



There will accrue, upon the bonded debt 

 computed upon tbe amount outstanding No- 

 vember 30, 1870, during the fiscal year ensuing 

 that date, interest to the amount of $140,380, 

 to meet which only a nominal sum, in ex- 

 cess of the specific tax receipts applicable to 

 the payment thereof, will be required. 



The%mount and apportionment of State tax 

 for 1870 was for purposes and under acts 

 as follows : 

 ^ mill two million loan Sinking Fund tax $38,495 73 



Military tax 3,803 40 



University aid 15,000 00 



1 mill, general purposes 307,965 84 



Aggregate of State taxes $395,264 97 



The valuation of the property of the State, 

 as last equalized in 1866, was $307,965,842.92. 

 The assessed valuation in 1870 was $266,929,- 

 278.49. The Auditor-General estimates the 

 actual cash value at about $800,000,000, or 

 about three times the value as assessed. 



The school statistics for the year are as fol- 

 lows: Number of counties reporting, 64; town- 

 ships, 858 ; districts, 3,108. Number of children 

 between five and twenty, 384,554. Number 

 that attended school during the year, 278,686. 

 Number attending under five and over twenty, 

 6,404. Number of volumes in districts libraries, 

 97,101. Volumes added during the year, 8,377. 

 Paid for books, $11,235,86. Stone school- 

 houses, 78; brick, 538; frame, 3,867; log, 627. 

 Value of school-houses and lots, $6,234,797. 

 Graded schools, 231. Visits by county superin- 

 tendent, 6,621. Visits by directors, 12,521. Qual- 

 ified teachers employed males, 2,793; females, 

 8,221. "Wages paid male teachers, $548,421.52; 

 wages paid female teachers, $844,807.07. 

 Average per month to male teachers, $52.62; 

 females, $27.31. Number of volumes in town 

 libraries, 53,725 ; added during the year, 4,247; 

 new districts organized, 182. Number of pri- 

 vate or select schools, 139 ; pupils attending the 

 same, 9,613. School moneys at hand at begin- 

 ning of year, $300,477.81. Two-mill tax, 

 $405,111.64. Eeceived from primary-school 

 fund, $177,313.79; from tuition of non-resident 

 scholars, $26,064.14; from district taxes, to 

 pay teachers and incidental expenses, $1,034,- 

 788.77; from other district taxes, $707,790.10; 

 from tax on dogs, $25,893.81 ; raised from all 

 sources, $474,323.72 : total resources for the 

 year, $3,154,221.28. Paid for buildings and re- 

 pairs, $852,122.62; paid teachers, $1,391,- 

 801.61; paid for all other purposes, $545,629.55: 

 total expenditures for the year, $2,783,943.22 ; 

 amount on hand at end of year, $470,289.46 ; 

 total indebtedness of districts, $861,409.94. 



The students attending the State Normal 

 School for the winter term 1869-'70, 277; for 

 the summer term following, 248; number 

 graduated, 17; receiving training certificates, 

 80; number from the normal department, acting 

 and trained as teachers in the experimental 

 school, 90; pupils in experimental school, spring 

 term, 126; summer term, 133; fall term, 104. 



The Superintendent of Public Instruction, in 

 his report, complains of insufficient salaries in 

 the Normal School, and says: ""We have been 

 compelled frequently to part with our best 

 teachers, and that too when they had become 

 thoroughly familiar with the duties of their 

 special departments, simply on account of the 

 inadequacy of their salaries." He also discusses 

 the question of compulsory education, and, after 

 referring to the systems prevailing in the dif- 

 ferent countries of Europe, proceeds to say : 



The free schools of this State have not been in 

 operation long enough to determine their complete 

 power and influence in securing the attendance of all 

 who ought to be found in school. The results have 

 been gratifying, but as yet fall far short of reaching 

 the desired end. 



There are many of our citizens whose education is 

 very limited, if not entirely wanting, who are utterly 

 indifferent to the education of their own children, or 

 of those under their care. There is no power in our 

 school laws to require the attendance of a single child ; 

 they are present or absent, as the parents or guardians 

 may choose. The claim is made and insisted upon, 



