REPORT OF THE COMPTROLLER OF THE TREASURY.

vii

ment shows a balance on hand September 30, 1908, of $1,238,-
652.40, or a sum less by $126,228.84 than the year previous,
and that too when in this balance is included the $150,000
School Book Eund, which was carried over into the next fiscal
year as authorized by the Act of 1908—so that the cash balance
is really lower by, say, $275,000.

Permit me to show you what is chargeable against this
balance, viz:

Balance in Treasury ........................		.$1,238,652 40
Due Public Schools and Free Books.........	.$627,277 54
Due Tobacco Warehouses ..................	. 268,188 95
Due Loans...............................	8,201 69
Due Oyster Fund ........................	4,463 29
		908,131 47
Balance applicable for ordinary expenses.		$330,520 93

It is true that during a Legislative year, heavy payments
must be -made, not only on account of the maintenance of the
Legislature, but to meet new appropriations which follow each
session. The balance above given represents the fund from
which all these expenses must be borne, since the other items
mentioned, amounting to $908,131.47, must be preserved invio-
late; hence you will observe the very narrow margin upon
which the Treasury officials must work until other funds shall
become available.

SINKING FUNDS.

I invite your careful attention to the exhibits made in state-
ments "E" and "F," showing the condition of the Sinking
Funds, as made during the fiscal year, a condensed statement
of which is herewith submitted:

	Cash Balance.	Bonds Purchased.	Total.
General Sinking Funds ............	$4,100 00		$4,100 00
Consolidated Loan ...............	120.532 50	$23,625 00	144,157 50
State Bldg. & Imp. Loan...........	36,000 00		36,000 00
State Loan of 1902 ...............	41,000 00		41,000 00
Public Buildings Loan .............		98,666 66	98,000 00
Total .....................	$201,632 50	$121,625 00	$323,257 50