Count the Cost - LightNovelsOnl.com
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The yearly Interest of the whole School Funds would be - 74,179 88 Deduct the Interest on that part which lies in lands, and also on those Bonds whereon Interest has not yet commenced, amounts to 7, 324 12
N.B. Several Bonds draw Interest in present year, which were not on Interest last year.
And the whole present annual Interest will be 66,855 76 Add to this the allowance of 2 dolls. On the 1000 of the List, - - 12,000
Total annual amount payable for schools, 78,855 76
Drawable from the State Treasury annually, by the people in their capacity of School Societies, - 78,855 76
Payable by the people into the State Treasury annually in taxes (including duties on civil processes) only the sum of - 41,400
Balance drawn out beyond what is paid by taxes and duties, - - - - 37,455 76
From the foregoing view of their financial arrangements, it appears that the people of Connecticut not only enjoy the blessings of Civil Government free from expense, but even receive from the public Treasury yearly, in sum of 37,455 dollars and 76 cents more than they contribute to in taxes, &c.
Who can behold this uparalleled situation of finances, taking into view at the same time our embarra.s.sed circ.u.mstances at the close of the late war, when we were not only dest.i.tute of any funds except direct taxes, but inc.u.mbered with a debt of two millions of Dollars, and not admire and appreciate the faithfulness and ability of those who have so sucessfully managed the public affairs of this State.
