IV

"THE FUNDS."

Statement No. 5, contains a report of the Free Schools Fund,
and the Sinking Fund, constituting "The Funds."

By a reference to this Statement, it will appear that the
Free Schools Fund had to its credit, in the Treasury, on the
30th of September, 1855, the sum of $30,055.73, and there
was received, during the fiscal year just closed, on account
of this Fund, the sum of $69,888.44; and there was ex-
pended, for the same period, the sum of $68,020.24. It will
also appear that, on the 30th of September, 1856, the Free
Schools Fund had remaining to its credit in the Treasury
$31,923.93.

Statement A, comprises that portion of the School Fund
which consists of Bank Stock and Cash, belonging to the
Counties.

Statement No. 5, also furnishes an account of the receipts
and disbursements on account of the "Sinking Fund" in the fiscal
year ended the 30th of September, 1856.

The receipts were $237,102.65, the whole of which sum
was invested for the use of that Fund; so that there was no
balance remaining in the Treasury, to its credit, at the close of
the year.

The Sinking Fund has been increased from the sum of $3,-
426,749.95, (which was its amount on the 30th of September,
1855,) to the sum of $3,676,065.35, which was its amount on
the 30th of September, 1856.

The character of the Stocks purchased for the Sinking
Fund, during the fiscal year, appear in Statement B, of the
Appendix.

By a comparison of this Statement with Statement No. 5,
it will be seen that while the addition to the Sinking Fund has
been $249,315.40, yet $237,102.65 only was expended to effect
the increase, the State being thus saved in the purchase of Stock
$12,212.75.

The exclusive control of the Sinking Fund is with the Trea-
surer, and its present condition clearly evinces the faithfulness
and ability of the distinguished gentleman, to whom the people
have entrusted its management.

DIRECT TAXES.

Statement No. 6, will show that the receipts from the Direct
Tax for the fiscal year are $330,594.42, of which sum $115,101.-