If the result should prove the correctness of this estimate,
a large increase of’ revenue will be secured to the general
Treasury and to the Schools:

A re-assessment is necessary, aiso, that the burthens of’
taxation may be equally distributed. In some portions of tine
State, property has greatly enhanced in value, in others, only
to an inconsiderable extent. Many persons, too, regard-
less of’ the moral and political obligation to bear their just pro-
portion of’ the taxes necessary for the support and good credit
of the State, secrete their securities, and perhaps other pro-
perty, when others, more honest, and the farmer, mechanic
and-tradesman generally, are assessed to the full value of their
estate. This inequality is a heavy grievance, and is aggra-
vated by the lapse of time.

There are other subjects of interest which I desired to refer
to, but in the absence of accurate information and for the
want of time, they are deferred. It will be my agreeable du-
ty to furnish any other facts, within the reach of this Depart-
ment, which may be desired by your Honorable Body.

It is gratifying to be able to state, in conclusion, that
although the condition of’ the Treasury is such as to demand
grave consideration and careful economy in the expenditures,
yet, there is no sufficient cause for the apprehension of serious
embarrassment. Unless there should be some untoward in-
terference with the revenues of the State, in the year 1867
will again commence the rapid reduction of the State Debt.
Within the current year all liabilities on account of’ bounties
will probably be discharged, after which, the excess of’ reve-
nue over the ordinary expenses of the State, approximating a
half million of dollars, annually, may be applied to that
object.

In the discharge of’ the onerous and complicated duties of
this Department, it affords me pleasum’e to say, the hearty co-
operation and valuable assistance of the Treasurer has been
readily given.

Respectfully submitted,
ROB’T J. JUMP,
Comptroller.