comparatively new taxes — one on the premiums of insurance companies 

 and one on corporations — are expected to bring in about $500,000 more. 



In addition to these taxes, the State offices and commissions collect 

 nearly $300,000 in fees, and the normal schools, asylums and hospitals 

 turn in about $200,000 each year from various charges connected with 

 their services. 



But this is not all; the State has investments of one kind or another 

 yielding nearly a million a year; or, to be more exact, $938,837, a sum 

 which, at 6 per cent, represents the income of an investment of about 

 $15,500,000. The most important property of this kind is the San Fran- 

 cisco water front, which belongs to the State, and yields about $825,000 

 income, a return which is increasing each year. Another quarter of a mil- 

 lion comes from the quasi-commercial enterprises of the State — the print- 

 ing of school books and the sale of products made by the State prisons. 



In further addition to this the State gets about $250,000 each year from 

 the sale of school lands granted to the State by Congress years ago. The 

 entire proceeds from this source are invested In bonds, the interest of which 

 is used for the support of the schools. 



The foregoing does not include the income of investments made for 

 the support of the State University, which, although essentially public 

 moneys, are, by dictate of the Constitution, treated as a private trust and 

 handled entirely by the Board of Regents. 



Of the $11,000,000 of State income more than half goes for educa- 

 tion in one form or another. Nearly $4,500,000 is each year turned over by 

 the State Treasurer to the counties and school districts for the support of 

 the primary, grammar and high schools. The State's contribution to this 

 object is fixed by law at $7 for each child of school age and is apportioned 

 among the counties and school districts partly in proportion to the number 

 of children and partly in proportion to the number of teachers. The object 

 aimed at and fully achieved is that every boy and girl, whether in the great 

 rich cities or in the more sparsely settled and more remote mountain dis- 

 tricts, shall have an equal opportunity to secure an education. There is 

 one continuous chain of free schools, culminating in and including the 

 State University, where, as in the schools below, tuition is free. The coun- 

 ties and school districts supplement the fund received from the State as 

 they see fit and in general do so very liberally, more than duplicating the 

 moneys received from the State. The State supports the University, giving 

 it from $400,000 to $600,000 each year, as Its needs appear, in addition 

 to the income from its investments. 



One of the features of the regular organization of government is the 

 maintenance of special bureaus to look after the different interests and 

 activities of the State. The interests of labor are watched over by the State 

 Labor Bureau, the horticulturists have their State Bureau of Horticulture, the 

 mines have their Mining Bureau, the farmers and stock raisers the State 

 Agricultural society and the State Veterinarian, the fishermen their State 

 Fish Commission, and so on. 



CALIFORNIA'S POSSIBILITIES. 



TRUMAN RBBVGS. Stat* Tr«««ur«r 



GOLD was discovered in California on January 14, 1848, by James W. 

 Marshall, at Coloma, El Dorado County, and since that date Califor- 

 nia has given the world a total production of $1,425,512,689. The 

 greatest output was in the year 1852, when more than eighty-one 

 and a quarter million dollars' worth was mined; then a decline until 

 1865, the amount that year being between seventeen and eighteen 

 million dollars; and in 1904 the product was $16,104,500 in gold and 

 $1,204,354 in silver. 



