A Board of Railroad and Warehouse Commissioners, elected by the people, was established in 1875, under a provision of the constitution requiring the General Assembly to establish maximum rates and provide against discriminations.4 The homestead of a housekeeper or head of a family, together with the rents and products of the same, is exempt from levy and attachment except to satisfy its liabilities at the time he acquired it.
Other liabilities 6,456,200
With the two previous loans above mentioned, £T5,50o,000 capital liabilities were paid off, the work of reorganization had made considerable progress, and £T2,000,000 remained in hand at the beginning of1910-1911to continue it.
It was intended to assign to the war department £T3,804,918, to the grand master of ordnance £T358,108, to the admiralty £T93,912, and to the ministry of finance £T2,443,202 for the payment of the war indemnities in Thessaly and other urgent liabilities, the estimated aggregate extraordinary expenditure thus amounting to £T6,700,140.
In 1908 the state debt was $816,785, and the assets in bonds, railway mortgages and bank stocks exceeded the liabilities by $7 1 7,779.