

NEW YORK. 



591 



$1,260,000 coupon bonds. The receipts from 

 the bounty debt sinking fund for the year 

 amounted to $8,928,848.02, from which pay- 

 ments were made amounting to $2,500.250.19. 

 The balance is made up largely of uncollected 

 taxes, payable by the city and county of New 

 York. This sinking fund, including the un- 

 expended balance for the year, amounts to 

 $7,399,841.92. 



The contingent debt, amounting to $68,000, 

 was incurred for the Long Island Railroad 

 Company, and the interest is paid and the 

 payment of the principal provided for by that 

 corporation. 



The expenditures of the State Treasury for 

 the fiscal year amounted to $22,295,343.50, 

 while the actual receipts were only $13,146,- 

 506.58. This leaves an apparent deficiency of 

 $9,148,836.92, which is reduced to $4,808,922.- 

 95 by the application of various sums due to 

 the Treasury. The most important items of 

 public expense are $3,033,585. 55 for education- 

 al and charitable purposes, and $322,258.20 

 for the support of asylums and hospitals for the 

 deaf, blind, insane, and idiotic, not including 

 the sums appropriated for building purposes. 

 The amount expended for the erection and im- 

 provement of buildings and for maintenance 

 of each of the insane asylums was : $21,539.06 

 for the State Lunatic Asylum at Utica ; $190,- 

 225.01 for the Willard Asylum for the In- 

 sane near Ovid ; $203,166.66 for the Hudson 

 River Hospital for the Insane at Poughkeepsie ; 

 $230,000 for the Buffalo State Asylum for 

 the Insane ; $15,000 for the Monroe County In- 

 sane Asylum ; and $44,000 for the Homoeopathic 

 Asylum for the Insane at Middletown. 



The expenses and earnings of the three State- 

 prisons for the year ending September 30th 

 were as follows : 



The excess of expenditures over income was 

 about 45 cents per day for each convict. At 

 Auburn there were 1,113 prisoners at the end 

 of the year, and their cost to the State was 

 about 21 cents each per day. At Clinton the 

 number was 531, and the cost of each per day 

 46 cents. At Sing Sing the number was 1,188, 

 and the expense of each convict per day a lit- 

 tle over 60 cents. It is generally admitted 

 that the system of prison management in the 

 State is a bad one, and an agitation for its re- 

 form has been begun. 



The State Reformatory at Elmira was char- 

 tered in 1870, and $75,000 was appropriated 



toward its establishment. In 1871 $204,000, 

 and in 1872 $200,000 more, was appropriated 

 for the same purpose. Of the entire sum of 

 $479,000, about $320,000 had been expended 

 or paid over to the commissioners to Septem- 

 ber 30th. The institution is still far from com- 

 pleted. 



There was paid for the construction of the 

 new Capitol at Albany during the fiscal year 

 the sum of $856,106.92. 



The rate of taxation in the State has in- 

 creased in ten years from 5 mills to 9f mills on 

 a dollar of the assessed value of property. The 

 total amount of the State tax in 1862 was 

 $6,884,193.77; in 1872 it was $19,580,882.30. 

 In 1862 the tax for all purposes in the State 

 amounted to $19,456,288.40; in 1872 it was 

 $63,511,936,12. The gross valuation of taxa- 

 ble property in 1862 was $1,449,303,948 ; in 

 1872 it was $2,088,627,445. The State tax 

 levy for the current fiscal year is distributed as 

 follows : 



Mills. 



For schools 1% 



For general purposes \% 



For bounty debt 2 



For new Capitol % 



For canal floating debt, under chapter 271, Laws of 



1859 9.80 



For new work on canals and extra repairs 7-10 



For academies and union schools 1-16 



For caual and general fund deficiencies 3> 



Total ". 9% 



This tax on the present valuation will yield 

 $19,580,882.30. 



The system of taxation in 'the State is ac- 

 knowledged to be very imperfect. The valua- 

 tion is scarcely an index of the actual amount 

 of property, and the assessments are un- 

 equal 



A commission has been appointed to in- 

 quire into the whole matter, and report such 

 changes as may be deemed expedient in the 

 revenue laws. The report of the commission- 

 ers was to be submitted to the Legislature 

 of 1873. 



There were on the 1st of July 157 savings- 

 banks reporting to the banking department of 

 the State, with assets amounting in the aggre- 

 gate to $292,305,329. The number of open ac- 

 counts in these at the beginning of the year was 

 776,700, an increase of 64,591 over the preced- 

 ing year. The amount deposited at that time, 

 including interest credited during the preceding 

 year, was $190,783,157, an increase in one year 

 of $26,330,864. The amount withdrawn during 

 the year preceding was $152,956,496, and the 

 amount of interest or profits $16,849,911. The 

 average of each deposit was $344.92. On the 

 1st of October 70 banks of discount were do- 

 ing business under the banking laws of ^the 

 State. The amount of circulation outstanding, 

 including that of incorporated banks, banking 

 associations, and individual bankers, was $1,- 

 902,001.50. The number of insurance compa- 

 nies subject to the supervision of the Insurance 

 Department on the 1st day of December was 

 264, as follows : 



