Count the Cost / An Address to the People of Connecticut, On Sundry Political Subjects, and Particularly on the Proposition for a New Constitution

by David Daggett

APPENDIX.

A View of the Fiscal Concerns of Connecticut.

Capital Funds of the Civil List. Dols. Cts. Funded 6 per cent. Stock, (real capital) - 209,273 83 Deferred —do. - do. - do. - - 148,632 83 Funded 3 per cent. do. - - - 50,038 11 Bank Stock - - - - - 44,725 __________ 425,669 77 __________

School Funds. Bonds collaterally secured - - 1,020,542 27 New Lands received in payment of School Bonds, price at which received, 194,000 Funded 6 per cent. Stock, (real capital) 14,048 Deferred —do. - do. -do. - - - 5,455 7 Funded 3 per cent. do. - - - - 4,570 95 ___________ 1,238,617 29 ___________

Annual Expense of Government. Viz. Salaries of Executive Officers, - - 8,630 Debentures and Contingent expenses of the Legislature for two Sessions, - 17,100 Debenture of the Supreme Court of Errors, 550 Judicial expenses, - - - - 6,100 Expense of Newgate prison, - - - 4,000 Charges of Paupers and Vagrants, - - 4,500 Allowance of 2 dollars on the 1000 of the list being a draw-back from the State Tax, 12,000 Contingent Expenses, comprising all other charges of Government, - - - 6,200 ____________ 59,080 ____________

Means for defraying the annual expense of the Civil List.
Viz.
Annual Interest on the above-mentioned Stock
appertaining to the Civil List Funds, 26,553 54
Duties on Civil Processes, - - 5,700
Annual Tax of 7 Mills on the Dollar,
neat amount, - 35,700
_____________
67,953 54
_____________

N.B. One eighth part of all the State taxes and one tenth part of all rateable polls are abated for the relief of the indigent.

The yearly Interest of the whole School Funds would be - 74,179 88 Deduct the Interest on that part which lies in lands, and also on those Bonds whereon Interest has not yet commenced, amounts to 7, 324 12

N.B. Several Bonds draw Interest in present year, which were not on Interest last year.

And the whole present annual Interest will be 66,855 76 Add to this the allowance of 2 dolls. On the 1000 of the List, - - 12,000

Total annual amount payable for schools, 78,855 76

Drawable from the State Treasury annually,
by the people in their capacity of
School Societies, - 78,855 76

Payable by the people into the State Treasury
annually in taxes (including duties on
civil processes) only the sum of - 41,400

Balance drawn out beyond what is paid by
taxes and duties, - - - - 37,455 76

From the foregoing view of their financial arrangements, it appears that the people of Connecticut not only enjoy the blessings of Civil Government free from expense, but even receive from the public Treasury yearly, in sum of 37,455 dollars and 76 cents more than they contribute to in taxes, &c.

Who can behold this uparalleled situation of finances, taking into view at the same time our embarrassed circumstances at the close of the late war, when we were not only destitute of any funds except direct taxes, but incumbered with a debt of two millions of Dollars, and not admire and appreciate the faithfulness and ability of those who have so sucessfully managed the public affairs of this State.