408 F. G. Young A statistical abstract of the administration of this issue of "relief bonds" follows : SOLDIERS' RELIEF BONDS Authorized October 24, 1864 Date of > Treasurers' Report Total Bonds Issued to date Amount of Bonds Outstanding at the Beginning of Period Debt Reduction During Period Outlay in Payments of Principal Interest Payments Payments for Advertising Call Total Payment* 1866 1868 1870 1872 1874 1876 1878 1886 81,474.00 92,395.00 93,637.00 93,637.00 93,637.00 93,637.00 93,637.00 93,637.00 5,633.63 12,815.49 9,353.31 8,669.25 6,675.67 1,597.85 5,633.63 23,070.99 29,361.52 23,693.53 32,148.77 21,583.85 81,474.00 82,242.00 61,183.00 46,027.00 20,747.00 761.00 761.00 11,395.00 21,059.00 15,156.00 25,280.00 19,986.00 10,255.50 19,936.21 14,935.28 25,280.00 29,986.00 72.00 89.00 193.10 141.53 141.53 141.53 Soldiers' Relief Bonds Notes. i 866. Secretary of State's Report, pp. 4-5. "The amount of bonds issued under the second, denominated 'Relief,' to Sept. 1st, 1866, is $81,484.00, and I am informed by the Adjutant General that two thousand dollars in addition will be required, exclusive of the amount due to the officers and soldiers who were in the service more than thirty-six months and hence entitled to pay." 1868. Treasurer's Report, 1868, p. 40. Amount of bonds redeemed is given as $11,395.00. The Secretary of State's Report, 1868, p. 16, gives the amount issued as $92,395.00. In computing the amount outstanding the Secretary sub- tracts $10,255.50, the sum paid in redeeming these bonds during this biennium, from $92,395.00. The outlay for redemptions is confused with face value of bonds redeemed. The bonds were redeemed at varying rates of discount. 1870. Treasurer's Report, 1870, p. 26. 1872. Treasurer's Report, 1872, pp. 132-8. "Cash on hand, applicable to inter- est and redemption, $14,370.96." 1874. Treasurer's Report, 1874, pp. 100-108. 1876. Treasurer's Report, 1876, p. 121. An error of 10c, making Outstand- ing Soldiers' Relef Bonds $761.10, instead of $761,00, is brought forward from this time on. 1886. Treasurer's Report, 1886, p. 129. A payment of $141.53 to W. H. Judson, "1 bond, 20 coupons," was made from Soldiers' Relief Fund, but the debt statement, p. 10, shows no reduction. Evidently this bond held by W. H. Judson had been lost sight of in the Soldiers' Relief Bonds account. 1901. The Treasurers' reports from 1876 on to 1901 give in their debt state- ment the item $761.10 as the amount due on the Soldiers' Relief Bonds. In the report for 1901, p. 105, and later ones the names of four holders of bonds out- standing are given and the whole amount due as $551.00. There is no explana- tion of disappearance of $210 of account. The essential character of the state's indebtedness repre- sented by the "bounty" and the "relief" bonds can probably be best brought out through a reference to the congressional policy of reimbursing states for all outlays incurred in securing the "common defense." It has become the rule of Congress to reimburse the states for all such military expenses. These payments originated with compensations for special expend-
