5

It will appear, upon an examination of this Statement and Statement
No. 5,that, while the Sinking Fund has been increased by the purchase
of Stock, to the extent of $268,112.42, yet this has been accomplished
by the expenditure of $263,025.87 only, being a saving to the State of
$5,086.55. Such a gratifying result, in the management of the " Sinking
Fund," has been produced by the zeal and fidelity of the Treasurer, to
whose care is confided this branch of the State Finances.

It is a source of much pride and pleasure, that the Comptroller is thus
enabled to report the general finances of the State in a condition so prosper-
ous and healthy.

DIRECT TAXES.

Statement No. 6 will show the amount of receipts, from this source, of the
public revenue, during the last fiscal year.

The entire sum received was $365,837.88, of which $141,606.19 were
paid on account of the Direct Tax for 1855, and $224,331.69 were on
account of former years.

A comparison of these receipts with those of the preceding fiscal year,
will show the aggregate receipts of the last year to have been $27,841.23,
less than those of the previous year, but this decrease is not for the Direct

Tax for the year 1855, but for the years antecedent thereto. Such a result
was anticipated; because the amount of taxes in arrear is fast diminishing.
The receipts on account of the Direct Tax for 1855 during the last fiscal

year, exceeded, by $7,678.47, the receipts, on same amount for 1854, during
the previous fiscal year.

Some specific rule should be made, by which the several Mutual Insur-
ance Companies of the Counties should be equally assessee. In some of
the Counties, the Direct Tax is. paid upon their entire, capital, whether
represented by Cash, Stocks or premium notes, while in other Counties,
this mode of taxation is resisted by these Companies and little or no tax
paid by them.