ILLINOIS. 



345 



the State debt up to July 1, 1871, will amount 

 to $4,211,103.03, which will be increased by 

 the 1st of January, 1874, by the receipts from 

 the Central Kailroad, to $5,311,103.03. This 

 will be more than sufficient to liquidate the 

 whole outstanding debt of the State, and the 

 Auditor estimates that the necessity for col- 

 lecting the two-mill tax will cease after one 

 more levy, the receipts from the Central Eail- 

 road being sufficient to pay the remainder of 

 principal and interest. 



The receipts into the Treasury during the 

 fiscal year amounted to $956,478.43, and the 

 warrants drawn thereon to $1,670,004.42. The 

 amount of the School, College and Seminary 

 Funds, on the 1st of September, 1869, was 

 $1,165,407.32, upon which interest was paid at 

 the rate of six per cent., amounting to $69,924.- 

 43. Of this amount $12,445.99 was paid to the 

 Normal University, $2,913.51 to the Institu- 

 tion for the Deaf and Dumb, and $54,564.93 

 distributed to counties. The school-tax, dis- 

 tributed to counties in addition to the above, 

 was $900,000, making a total of $954,564.12 

 distributed for school purposes. The total 

 assessed value of property in the State, accord- 

 ing to the assessment of 1868, was $463,776,494, 

 and according to that of 1869 it was $486,954,- 

 577, showing an increase of $23,178,083. 



The assessed value of railroad property 

 (with the exception of the Illinois Central) was 

 as follows : 



The county, township, and town and city 

 debts, are as follows : 



The following table shows what portion of 

 the property, according to the assessment of 

 1869, was personal and what was its nature : 



COUNTY DEBTS. 



Railroad debts 



Other than railroad debts 



Railroad subscriptions not yet debts. 



... $2,152,566 

 ... 6,807,298 

 ... 7,078,933 



Total $15,538,797 



TOWN AND TOWNSHIP DEBTS. 



Railroad debts $1,697,028 



Other than railroad debts 473.528 



Railroad subscriptions not yet debts 4,474,400 



School debts 10,702 



Total $6,655^658 



CITY DEBTS. 



Railroad debts $1,964,250 



Other than railroad debts 13,080,704 



Railroad subscriptions not yet debts 1,354,500 



School debts 316,000 



Total $16,715,454 



Grand total $38,909,909 



Of this amount, however, it will be seen that 

 $12,907,833 are returned as railroad subscrip- 

 tions not yet debts, leaving the amount of 

 actual debts $26,002,076. 



In consequence of the extraordinary ex- 

 penditures under the appropriations of the last 

 General Assembly for the benefit of several 

 charitable and educational institutions, and for 

 the Constitutional Convention, it was found 

 necessary to increase the levy of 6 mills on 

 the assessment of 1868, to 13 mills, to meet 

 the ordinary expenses of the State government 

 and the deficiency of 1868. The Auditor, how- 

 ever, is of the opinion that the assessed value 

 of the taxable property of the State is only 

 about one-fourth its real value, and that the 

 rate of taxation is not exorbitant, or relatively 

 greater than that of other States. 



The State bank system is virtually abolished, 

 only two banks remaining in operation the 

 "Sycamore Bank," and the "Cumberland 

 County Bank." The former had a circulation, 

 on the 1st of December, of $87, and the latter 

 of $419. 



The report of the State Treasurer shows the 

 following condition of the Treasury : 



Amount on hand December 1, 1868, and 



amount received to December 1, 1869. . . $4,325,623 82 



Amount paid out from December 1, 1868, to 



December 1,1869 2,562,649 12 



Total amount of funds in the Treasury, De- 

 cember 1, 1869 $1,762,974 70 



The Treasurer says: 



' In July, 1861, the bonded debt of the State was 

 $12,327,166.36. On the 1st of December, 1866, it was 

 $8,595,343.02, which was increased, in 1867, by the 

 issue of bonds to meet the expenses of the peniten- 

 tiary, $50,000 making a total debt, in 1867, of 

 $8.645,342.02. On the 1st day of December, 1868, the 

 debt was $5,988,453.53. On the 1st day of December, 

 1869, the entire debt, including $20,136 which has 

 been called in by proclamation of the Governor, 

 which has not been presented, and on which interest 

 has ceased, is only $5,124,995.64. 



The amount of principal of the debt paid from 

 December 1, 1868, to December 1, 1869, was $863,- 

 457.89. This amount was paid from the State Debt 

 and Illinois Central Eailroad Funds, and by the 

 Trustees of the Illinois and Michigan Canal from the 



