129

145

M. S. Latham

128

332

333 340 341 353 354 355 371 383

384 386 390 391

394 420 433

250

133 531

250

136 40

250

136 10

The total principal is thus seen to be six thousand nine hundred and fifty dollars, and the total interest up to May second, eighteen hundred and sixty-two (the date of the maturity of the bonds), three thousand We have made a seven hundred and sixty dollars and fifty-four cents. careful comparison of these bonds with the numbers of those paid at Washington and by the State, and are satisfied that none of them have ever been paid, with the exception of Bond Number Three Hundred and Forty-seven, issued April fifteenth, eighteen hundred and fifty-four. By reference to the official list in Appendix, it will be seen that the General Government has redeemed a bond of that number and denomination. We do not know of any duplicate having been authorized by statute for In this bond, nor does the register give more than the one number. fact, the bond here corresponds exactly with that set out in the bond register. Both are for the same number and denomination, and both purport to have been issued to D. B. Kurtz, on the fifteenth of April, eighteen hundred and fifty-four. The question arises, how did this bond get here? Setting aside the improbability of any one counterfeiting the bond and all of its indorsements, including that of Kurtz, and the fact of its never having been in the office of the Third Auditor-for it lacks the indorsement of the War Debt Commissioners-we are driven to the supposition that the number Three Hundred and Forty-seven in the official list is a clerical error. At all events the bond is here, and bears every evidence of genuineness.

Our examination of Bond Number Four Hundred and Thirty-three for one hundred dollars disclosed the following singular state of facts: It appears that two bonds of one hundred dollars each, numbered four hundred and thirty-two and four hundred and thirty-three, were issued to A. W. Bee by Act of the Legislature approved May fourteenth, eighteen hundred and sixty-two (page 554 of Statutes), in lieu of Bonds Numbers Three Hundred and Forty-four and Three Hundred and Forty-five that had been issued November twenty-fourth, eighteen hundred and fifty-four, and that there is no record of any bond for one hundred dollars numbered Four Hundred and Thirty-three having been issued on June twenty-first, eighteen hundred and fifty-six. Of course, this bond could not be one of those issued to Bee, because his bonds were issued in eighteen hundred and sixty-two, and were to bear the same date, by the terms of the statute, as those bonds which he was to surrender, viz: November twenty-fourth, eighteen hundred and fifty-four. picion attached to this bond is not relieved by the fact of its lacking the seal of the Treasurer, which its fellows exhibit; but as the genuineness of the bond will have to be passed upon in the process of funding, we deem it unnecessary to discuss the matter further.

The sus

If payment were made of the bonds above tabulated, there would still be outstanding of the bonds of eighteen hundred and fifty-one, three thousand dollars, being three bonds numbered One Hundred and Seven, One Hundred and Eight, and One Hundred and Forty-two, and of the bonds. of eighteen hundred and fifty-two, seven thousand seven hundred and fifty dollars. As one half of these latter (three thousand eight hundred dollars) belong to the old issue of eighteen hundred and fifty-two, and were not presented to the War Debt Commissioners, and as but one thousand three hundred and fifty dollars of these have ever been presented to the Legislature, and none of them were laid before the Board of Examiners, it is but fair to presume that nearly half of the bonds of

eighteen hundred and fifty-two, still outstanding, will never be brought forward for payment.

Deeming the following table may be of some service, we have taken the pains to construct it, premising that the "old issue" of eighteen hundred and fifty-two, comprises those bonds that were issued prior to January first, eighteen hundred and fifty-four, and the "new issue,” the bonds that were issued after that time:

will be an easy matter, by means of the official lists above referred to, to correct and complete them. The want of that information which these lists furnish seems to have been the motive that determined the conclusion of the Board of Examiners, it being deemed that this information could only be procured on the personal application of an agent of the State. After this determination, however, some of the claimants succeeded, after a delay of some months, in obtaining those official lists of which we have made such good use, and which we beg leave to append to this report as an appendix.

The amount of the detached coupons is given by the Commissioners at one hundred and seventy-two thousand eight hundred and twenty-eight dollars and fifty-four cents, and by Adjutant General Kibbe at one hundred and seventy-seven thousand one hundred and ninety-six dollars and twenty-three cents. How General Kibbe arrives at these latter figures he does not tell us, nor do we deem it material to ascertain, even if we could do so. The Commissioners' figures are adhered to in all of the official reports; and besides, as many years have elapsed since the coupons were detached, your committee doubt if more than three fourths of them could be presented in shape for payment.

The whole indebtedness may be tabulated as follows:

RECOMMENDATION.

The committee would therefore recommend in conclusion that the whole indebtedness be funded, the Funding Act to provide for the issue of bonds of the State to the amount of one hundred and ninety thousand dollars, with interest at the rate of seven per cent per annum. A tax of three fourths of a cent on each one hundred dollars will be amply sufficient for the purpose; indeed, this rate will doubtless prove to be too high in the course of a few years.

Thus, for an insignificant tax, would the State be finally relieved of an obligatory indebtedness that has vexed her for years, and her people receive yet another illustration of that nice sense of right which is no less necessary to the honor of a commonwealth than it is to that of an individual. GEORGE C. PERKINS, Y JOHN MCMURRY, WILLIAM MINIS, HENRY LARKIN, STEPHEN WING.

E. B. MOTT, Jr.,
JACOB WELTY,
W. N. DE HAVEN,
ROBERT BELL,

J. H. COOPER,
P. B. BACON,
W. A. ALDRICH.

Senate Committee.

Assembly Committee.

List of Seven per Cent California War Bonds paid by the

United States.

Hundred and Twenty-six, Three Hundred and Thirty-four, Three Hundred and Thirty-five, Three Hundred and Thirty-six, Three Hundred and Thirty-seven, Three Hundred and Thirty-eight, Three Hundred and Thirty-nine, Three Hundred and Forty-two, Three Hundred and Fortythree, Three Hundred and Forty-four, Three Hundred and Forty-five, Three Hundred and Forty-six, Three Hundred and Forty-seven, Three Hundred and Fifty, Three Hundred and Fifty-seven, Three Hundred and Fifty-eight, Three Hundred and Fifty-nine, Three Hundred and Sixty-six, Three Hundred and Seventy, Three Hundred and Seventyfive, and Three Hundred and Seventy-six. A true list.

WM. THEO. VANDOREN, Clerk.

THIRD AUDITOR'S OFFICE, January 10th, 1872.

First-Bonds with interest upon the coupons up to the first of January, eighteen hundred and fifty-four:

One thousand dollar Bonds Numbers One to Three Hundred and Forty-one, inclusive.

Five hundred dollar Bonds Numbers One to Ninety, inclusive.

Five hundred dollar Bonds Numbers Ninety-two to One Hundred and Eighty-five, inclusive.

Five hundred dollar Bonds Numbers One Hundred and Eighty-seven to Three Hundred and Six, inclusive.

Five hundred dollar Bonds Numbers Three Hundred and Eight to Three Hundred and Ninety-nine, inclusive.

Two hundred and fifty dollar Bonds Numbers One to Sixty-eight, inclusive.

Two hundred and fifty dollar Bonds Numbers Seventy to One Hundred and Five, inclusive.

One hundred dollar Bonds Numbers One to One Hundred and Fourteen, inclusive.

One hundred dollar Bonds Numbers One Hundred and Sixteen to One Hundred and Thirty-one, inclusive.

One hundred dollar Bonds Numbers One Hundred and Sixty-four to Two Hundred and Eighteen, inclusive.

One hundred dollar Bonds Numbers Two Hundred and Twenty to Two Hundred and Sixty-seven, inclusive.

One hundred dollar Bonds Numbers Two Hundred and Seventy-two to Two Hundred and Ninety-six, inclusive.

Second-Bonds bearing date subsequent to the first of January, eighteen hundred and fifty-four, with coupons paid to the first of July, eighteen hundred and sixty:

Five hundred dollar Bonds Numbers Four Hundred and Three, Four Hundred and Nine, Four Hundred and Ten, Four Hundred and Eleven, and Four Hundred and Thirteen.

Two hundred and fifty dollar Bonds Numbers One Hundred and Eight, One Hundred and Nine, One Hundred and Ten, One Hundred and Twenty-one, and one Hundred and Twenty-two.

Two hundred and fifty dollar Bonds Numbers One Hundred and Twenty-three, One Hundred and Twenty-four, One Hundred and Twenty-five, One Hundred and Twenty-six, One Hundred and Forty, and One Hundred and Forty-nine.

One hundred dollar Bonds Numbers Three Hundred and Two, Three Hundred and Twenty-four, Three Hundred and Twenty-five, Three