Number.

II. PUBLIC DEBT.

Statement of the condition of the Three per cent. Bonds, at the close of the Third Fiscal Year.

Bonds signed and delivered.

50 1,000 50,000 $300,000 $290,100 $172,775 $117,325 61,651 01 96,442 88 213,767 88

2.

SEVEN PER CENT. BONDS,

Issued under the Act of April 28th, 1851.

Whole amount issued up to June 30, 1852, $417,000 00

Amount redeemed to that date,

Balance outstanding June 30, 1852,

Interest accrued and uncalled for,

4.

Exhibiting the amount of Comptroller's Warrants outstanding at the

Balance outstanding at the close of the second Fiscal Year, June 30, 1851, - Amount issued during the third Fiscal Year,

Amount redeemed at the Treasury during that period-in Cash,

Funded, under the Act of 1851,

(G.)

1. Three per cent. Bonds,

Interest on same,

2. Seven per cent. Bonds of 1851, Interest accrued and unpaid,

3. Seven per cent. Bonds of 1852, Interest on same,

4. Comptroller's Warrants outstanding,

5. War Debt

(H.) STATEMENT OF THE CIVIL DEBT OF THE STATE,

Add Debt to the "School Fund," for lands sold,

Total Debt, Dec. 15th, 1852,

771,190 05

190,080 00

$2,349,483 83

(X.) STATEMENT OF THE WAR DEBT OF THE STATE,

The entire Civil and War Debt of the State existing at the close of the late fiscal year, it will be perceived, is $1,782,458 96, and up to the 15th of December, 1852, is $2,159,403 83, of which amount it is expected that the sum of $771,190 05-being the War Debt-will be eventually assumed and paid by the General Government. The debt to the School Fund, to be added thereto, is $190,080 00, making in all $2,349,483 83. The three per cent. Bonds are now being redeemed by virtue of the legislation of last session, as rapidly as money is received into the general fund for that purpose the sum of $102,138 17, principal and interest, having been paid from the commencement of the present fiscal year to this date, and it is expected that the entire issue can be thus redeemed within a period of three months from this date, thus relieving our people from the further payment of an onerous and oppressive interest, that is now fully equal to the principal outstanding, and leaving no obligations of the State in circulation drawing any interest, other than our seven per cent. bonds.

It will be seen that the sum of $397,000 is now outstanding of the 7 per cent. bonds, emitted under the Act of April 28, 1851, one-half of which sum matures on the 1st day of March, 1855, and the residue on the 1st day of March, 1861, all payable in the City of New York.

The 7 per cent. bonds issued under the Act of May 1st, 1852, amounting to $790,500 00, are all payable in the City New York on the 1st day of March, 1870. The payments of the interest accruing semi-annually on our funded debt-considering both funds in the aggregate-are amply provided for by the tax of twenty-five cents on each one hundred dollars of valuation for this purpose, and the sacred character of these obligations are solemnly recognized and established by the past legislation of our State.

The permanent provision made for a certain revenue for the liquidation of this interest, will yield an annual surplus, which is to be devoted to the redemption of such a proportionate part of the principal as it may be adequate to redeem, under proposals invited and accepted for that purpose, by the Act of May 4th, 1851; and when the extent of these permanent provisions for the payment of this interest, and such portions of the principal as the surplus, periodically accumulating, will redeem, become