The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-12-14
MESSAGE OF THE GOVERNOR OF
ILLINOIS.


Governor Carlins Message declares the State
to be measurably overwhelmed with pecuniary
embarassments. These embarrassments, he
says, have grown out of the system of internal
Improvements, adopted by an improvidsnt legis-
lation, sat time when the delusive phantom of
speculation seemed ts have taken possession of
the human mind, and led the world into extrav-
sganee and error" To protect and sustain the
credit of the State of Illinois, in this crisis of
herpecuniary affairs, the Legislature is convened
according to proclamation of the Governor,
issued on the 18th of October. We annex, from
the Message, a statement of the liabilities and
resources of the State
The following table will exhibit the financial
condition of the State, her Indebtedness and re-
sources, and the amount of interest to be paid on
the internal improvement debt, on the first Mon
day of January next:
Amount of internal improvement
stock sold for railroad and river
improvements, S3,1S7, 900
Amount on account of railroad
iron, 100000
ESQ 900 advanced byNVright s Co,
of London, amounting to near
S250,0O0, being part of 1900
000o internal imprevem't bonds
placed in the hands of said
Wright S Co., as agents for
Messrs. Rawling * Oakly, Fund
Commissioners, $50, 0eO
| Amount due Bank of Illinois for
money advanced, and interest on
! same, about 23S,00C
Amount due State Bank Of Illinois
for same, $4,000
Internal improvement scrip issued,
about 100000
Unadjusted accounts with contract
ors for work done this year, and
for damages, about 100000
Amount due Bank of United States
for advances on shipments Of
railroad iron, &c, about 20,00(
Total amount of debt on account
of internal improvement, s5,345,OO
Bank and internal Improvement
stock, 2,665,00
| Total bank and internal improve
! ment debt, SS,0l0,OO'
/ For s. SOC, 500 of the above inter
J nal improvement debt, bonds have
been sold upon which interest is
due in January next. exclusive Of
bank and internal improvement
| stock. amounting at that time to
the sum of 1919;
| The residue of the above indebted
ness consists in internal improve
ment bonds sold and not paid
for, moneys advanced by banks
and debts due for internal i'm
provement scrip, and to con-
tractors, Sc, amounting in the
aggregate to 2,7Ss,5O
Illinois and Michigan Canal Stock
sold, 3,4OO,OOC
Amount due to Messrs. Wright s
Co, for 100000 advanced on
contract with Judge Young, a.
mounting, with interest, to 10000
Canal scrip issued last spriag, 100000
Total amount of Canal debt, 3,950,03O
RECAPITULATI0N.
Total internal improvement debt, 5,345,OOO
Total bank stock, 1866, 900
Illinois and Michigan canal debt, 3,950,0C0
Total amount Of debt on account
of banks, internal improvements
and canal, s11, 100000
To which may be added, for reve-
nue. purposes, the following sums:
Amount due school fund, S07 80
Amount due Bank of Illinois for
advances on account OF state
House, so,O97 OC
| Amount due State Bank and for
| Auditors warrants for current
expenses paid by State Bank, 10000 OF
connective Engine Co., 12s, 900 OF
Liability on account of surplus
revenue, 477,919 A
i e ~.