which appear in the report. And also the memorial of the re gents of the university, asking the state to lease the female semina. ry lot in the city of Detroit, and report adversely to the prayer of the memorialists. C. JOSLIN, Chairman. No. 3 S 1844. Report of the Committee on Ways and Means, in relation to a sale of the Public Works for State Bonds. The committee of ways and means, who were instructed to inquire into the expediency of providing fora sale of our public works for the purpose of thus liquidating the larger portion of our internal improvement debt, would respectfully report: That they have endeavored to give the matter that deliberate consideration which the great importance of the subject demands; and although the tenor of the resolution, and the appropriate functions of the committee necessarily confined them to an investigation of the subject almost exclusively, as to its financial bearings, yet other considerations unavoidably presented themselves with more or less force, all of which, as well as some, perhaps, which may not have suggested themselves to your committee, will doubtless be taken into consideration by the House, in their action upon the question. One of the first inquiries instituted by the committee in the investigation of the subject, was, as to the cost or probable value of the available public works of the state at some given period, and the total amount of the five million loan debt that would be due at the same time, with a view of arriving at the balance that would remain to be met by the state from other resources. The first of July next, as being about the earliest period when such an arrangement could be supposed to come near to any consumation, was selected for the purpose of making the calculations. By an estimate based upon the same, principles, as the statement of state indebtedness on account of the five million loan as of July 1st, 1845, contained in the annual report of the state treasurer, it appeared that the amount which would be due on said loan on the first day of July next, would be $2,805,497 09. This is upon a calculation of the damages on the unpaid instalments |