VI REPORT OF THE COMPTROLLER OF THE TREASURY.

$448,813.43, while under the increased cost of said licenses
from $250 to $500, by an Act of the last Legislature, Chapter
196, the State received $1,003,784.59, paying back into the
City Treasury the sum of $753,237.14, leaving net to the State
$250,547.45, as against $149,138.34 for the year previous, or
an increase of $100,000. Under the provisions of the new Act
of Assembly, the cost of these licenses for the license year 1909,
will be $750.00, which should further augment the Treasuries
of both State and City, and so long as said statute remains will
furnish a reliable revenue to each.

A shrinkage of $130,000 is shown in receipts from Col-
lectors, but is readily accounted for by a reduction of the State
tax rate, as the receipts into the Treasury during1 the fiscal year
1907 were largely from arrearages for year 1906, when the
rate was 23 1/2 cents, as against 16 cents for the two years fol-
lowing.

The last Legislature passed a law, Chapter 695, which will
necessarily increase the receipts into the Treasury, although its
effects have not been felt so far. This Act increases the tax
upon Collateral Inheritances from 2 1/2 per centum to 5 per
centum, but under an opinion given by Attorney-General Isaac
Lobe Straus, its provisions become effective only upon estates of
persons who have died since the passage of the Act. We may,
therefore, reasonably expect an increased revenue from this
source of $100,000 per annum, which, together with the
increase from High Liquor Licenses, should yield to the State
an increase of one quarter million dollars or more, as the result
of the legislation of 1908.

DISBURSEMENTS.

While the receipts have shown normal conditions with a
steady increase, yet the disbursements have increased out of
proportion to such revenues. The total expenses of the State,
exclusive of the Fund's accounts, were $4,639,483.91 for the
year 1908, while the year 1907 showed $4,139,863.02, or a dif-
ference of $500,000 in round figures. In statement "B" you
will find an itemized account of the disbursements, together
with the Acts of Assembly authorizing the same, which state-