294 FINANCES, UNITED STATES. 



FLORIDA. 



The statistics of 1876 as compared with those 

 for 1875 are as follows: 



18T6. 



18?5. 



STATES AND CITIES. 



FLORIDA. According to the latest official 

 reports, the bonded debt of Florida is $1,381,- 

 600, including $132,000 bonds of 1857, held by 

 the Indian Trust Fund, to offset which the 

 State has claims against the Federal Govern- 

 ment for expenditures incurred in suppressing 

 Indian hostilities. Without these, the debt .at 

 the beginning of the year was $1,249,600. 

 Adding accrued interest and deducting bonds 

 in the sinking-fund and cash applicable for 

 the reduction of indebtedness, the net debt 

 stood at $1,195,320.48. There were also war- 

 rants and certificates outstanding to the amount 

 of $134,437.20, making the total indebtedness 

 $1,329,757.68. The receipts of the Treasury 

 for the year 1875 were $384,735.24, and the 

 expenses $290,561.43. Controller Cowgill, in 

 making an investigation of the warrants issued 

 from time to time, found that there were $17,- 

 479.91 unaccounted for, and suggested that 

 proceedings be instituted to recover the losses 

 sustained by the State during the administra- 

 tion of Treasurer S. B. Conover. The cost of 

 the government in 1876 was $190,000. The 

 regular tax-levy of the State is seven mills to 

 the dollar, yielding about $180,000, and there 

 is a license-tax which yields about $40,000 

 yearly. 



The question of the proprietorship of the 

 Jacksonville, Pensacola & Mobile Railroad was 

 passed upon both by the Supreme Court of the 

 State and the Supreme Court of the United 

 States early in the year. By a decision of the 

 Federal Court in December 1875 it was settled 

 that the lien of the State on account of unpaid 

 purchase-money, due from the sale by the 

 trustees of the Internal Improvement Fund in 

 1869, was superior to all other claims, and D. 

 P. Holland, a subsequent purchaser under exe- 

 cution, and other defendants, holders of guar- 

 anteed bonds of one of the old roads by the 

 consolidation of which the Jacksonville, Pen- 

 sacola & Mobile was formed, were enjoined 

 from interfering with or disturbing the State 

 of Florida or its agents in the possession and 

 control of the property. The State court de- 

 cided in January that the bonds issued by the 

 State to aid in the construction of that portion 

 of the road from Quincy to Mobile were un- 

 constitutional, and that the State was not 

 bound for them, but that its lien as a trustee 

 in behalf of the holders of the bonds still held 

 good. The decision of the lower court was 

 affirmed, and the defendant (Holland) was per- 

 petually enjoined from interfering with the 

 possession of the road by the State. On the 

 1st of May an order was made by Justice Brad- 

 ley, of the United States Supreme Court, direct- 

 ing that Robert Walker, the receiver appointed 

 by that court to take possession of the prop- 

 erty, deliver it over to Dennis Eagan, Com- 

 missioner of Lands and Immigration of Florida. 

 The Executive Committee of the Republican 

 party of the State, consisting of eleven mem- 

 bers chosen by the State Central Committee 

 appointed by the Convention of 1872, issued a 



