vi

with this Department, extending through four years, he has
established the character of a faithful and diligent officer.

"THE FUNDS."

STATEMENT E is a report of the Free Schools Fund and the
Sinking Fund. There remained in the Treasury on the 30th
of September, 1859, to the credit of the Free Schools Fund,
$24,427.87, and the receipts in the fiscal year were from the
tax on the capital of Banks $24,740.54, from dividends of
Bank Stock held by the Treasurer for the benefit of the said
Fund $11,140.66, from State 6 per cent, stock $530.16, from
surplus revenue $34,069.36, and from investments made for
the use of Common Schools, under the Act of Assembly of
1858, the sum of $10,413.54, making an aggregate of $111,-
322.13 ; and the disbursements for the same period were $91,-
889.90, thus leaving in the Treasury, to the credit of the
School Fund, on the 30th of September last, $19,432.23.

The character and amount of Stocks held for the benefit of
the Free Schooip in the various counties, appear in STATE-
MENT G of the Appendix. The whole amount is $322,267.34.
The average total receipts for the use of Free Schools are
about equal to the interest, at 6 per cent., on $1,300,000,
without reckoning the annual appropriation of $400 to certain
counties by an Act passed at the January session, 1860.

The receipts for the use of the Sinking Fund constitute a
part of Statement E, and amounted in the fiscal year to
$245,387.02, the whole, of which sum, with the exception of
$5,157.68, was promptly applied by the Treasurer to the aug-
mentation of the said Fund. The sum of $5,638.29 was
transferred as surplus cash. The purchases made by the
Treasurer, during the past fiscal year, for the benefit of the
Sinking Fund, were of Currency State 6 per cent, stock
$21,053.59 ; of 5 per cent. $217,000.54, and of 4 1/2 per cent.
$2,200, The Sinking Fund on the 30th of September, 1859,
amounted to $4,582,975.22, adding the purchases made in
the year, and the cash (standing in the Treasury to the credit
of the said Fund, it appears on the 30th of September, 1860,
at $4,828,387.03.

It will be observed by a comparison of Statements E and F,