Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-12-08
GOVERNORS MESSAGE.
Gentlemen o. tic Senate,
and House of Representatives.:

You have been sent mp TO ihiS place Dy ua o
people of Indiana, charged with the execution OF "
most important trusts The great interests OF the
state, be they civil or political, are almost exciu- l.
sivey in your keeping aud never before--i speak /,
il advisedly--never before have you witnessed h
period in our local history that, more urgently I
called f,r the exercise of all the soundest and best
attrlu es Of grave AM patriotic Legislators, than
tho present Extreme prudence AMI foresight, ,
frug ,iity aad economy--decision and energy l.
pron,iness AMI perseverance, should unI iestson-
ably mtrk the whole tenor OF your future con
duct of legislation; for by these only that sue
cess crn be insured to one splendid enterprises
a speedy AMI adequate realization of profit to our
many bur.hens and expenditures and above all,
an undated conf lencc in own ability and re-
:
The truth is-and it would be folly to conceal
tive have hands flll-fuli to Overlooking.
and therefore to sustain ourselves, to preserve
the credit and character ofour state unitnpairea
and TO continue her hitherto unexamPied march to
wealth and distinction, we have not an ho,ir OF
time nor a dollar Of money, nor a hand employed
in labor, to squandcr and dissipate upon more OBJ
iects of ideness, or taste, or amusement. "ehave
the most pressing need for the whole OF them,nor
this only, require that they should be con
centratcd mnch possible, and skIilfully and
energetcally applied TO the great business IN
hand. If such result can be brought about !
and nothing but the ilberai opposition nf
local indv dual interests TO prevent i'll have
no hesitation in saving that Indiana IS still safe
To make these things sufficiently manifest IT
seems mo, both right and proper ,tiat we should
attempt here what some perhaps would call a spe-
cies of political recL oning: la other words that
should carefully endeavor to cast about us IN
view Of approaching difficulties, to ascertain, 1t
can, true position, the exact measure OF
our strength-embracing as it must the full OK
tent of our several means and resources. Such
exhibit il is very evident will better than any
thing else, prepare the people TO act with the
tn le he
ures and to fortify themselves and the state most
successfully against the several shocks OF any
and every trial.
In the prosecution of so desirable scheme let
us, ere setting out, accurately determine hrst
what tho present liabilities of the state amount to,
and secondly, what sums must be annually rails
ed to meet liquidate the demands accrulng
therefrom. BY referring to the reports OF our
Canal Fund Commissioners, we learn that the
State has borrowed for internal improvement
purposes up the first of January last, three mil
lions eight hundred and twenty seven thousand
dollars: One million three hundred and twenty
seven thousand, for tho Wabash and Erie canal
and the remaining two and u half millions for the
benefit Of our other works.-Upon tho whole of
this sum, with the exceptions of a hundred thous-
and dollars, the state pays an annual interest OF
five per ccnt-for the hundred thousand she pays
six per cent.-Which makes her interest account
alone for 1889 amount to hundred and nine
ty-two thousand three hundred and fifty dollars
This therefore, in part, furnishes an answer to
our second query, inasmuch as this is the sum 10
be provided for and paid by the state, not only
for the coming but for many succeeding years.
With this knowledge before the questionable
important question! forciblv presents ITSELF wha
provisions have e predecessors tHaIe '<
enable VS. to discharge so considerable bnrthcn
Independent of taxation, l confess that can nam
but two items; first the interest arising from tn
balances due upon the sales OF canal lands; ane
secondly the proceeds of the third instaimeht c
the surplus revenue; both amounting to not NOR
than forty five thousand dollars, which substrac
ed from the hundred and ninety two thousan
three hundred and fifty dollars leaves deficit
one hundred and forty six thousand eight hund e
and fifty dollars to be levied out of, or charge
upon the pockets Of the people.
If this development does not starte or asto
ish it should, least, il occurs to me, wake us
to a lively sense OF the critical popularity OF o
situation, and of the absolute necessity OF our
recting more of our immediate attention and 81
dy to our financial operations than we have m
erto done. ltmay be asked, and with the gre
est propriety too, is it possible that the sum
forty five thousand dollars, is all that our mea
exclusive of taxation, IS capable OF producing,
of being applied to the extinguishment OF {
yearly bnrthens2 To answer this question sat
factorily it is requisite that we should exam
facts. On the first of January last, the state
sold canal lands to the amount of SAG, SO4 d"lla
-36S, 900 Of which remains in the hands of
purchasers sub ject TO an annual interest OF SIX
cent. leaving. however, ,SG4 dollars toget
1888, in the possession of the state for inv,
ment. The had also received from
| Treasury of the United States S60,254 dollars
three fourths of her share OF the surplus reve
! making in all l ,429, les dsllsrs.-Ths SUM thu
fore. take it, constituted at the commencen
of the present year the absolute capital capab
productiveness which the state held at her di
sal. 1861, l2S dollars which mo
in hand or which had been in hand. Ii pro
ly invested-in Bank stock for exampie-v
should this latter sum have produced! Not
than ten per cent, or lO6, l II dollars, the o
atoms OF the Bank for the same -eriod mos
deniably prove; ada to this sum the 1850
lars, the interest on the 1868 900 dollars aud
have les, 1872 dollars the whole amount "
might and ought to have been produced from
States capital this year. Yet it is, wher
come TO close our accounts. and to pay our
at the end of the year find the proceeds OF
capital so disposed of, or the capital it elf
aged, that can only hsoster from II Is
dollars to apply TO our Internal Improvement
II avails US nothing, | apprehend. TO be told
$4,000 dollars in addition to the 40, 500 has