The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1843-02-17
Govcrnor'. sle..nse.--s.a,. Bank.
EXECUTIVE DEPART mENr,
Springfield, Feb. 8, ls43.

Springfield, FEB. 8, ls43.
To The Senate and House Of Representatives
The State Bank has filed in the Secre-
tary's Office written consent, under its
corporate seal, to the provisions of the
act entitled IAN act TO diminish the state
debt and put the State Bank into liQuida-
,ion," and has also delivered to me one
million seven hundred and eighty-six
thousand dollars in state bonds, and also.
the further sum Of two hundred and eigh-
ty-seven thousand FIVE hundred and one
dollars and fliy-one cents in AUDITORS
certificates; making in the whole the
sum of two millions seventy.three thou
sand five hundred and one dollars and
iifly-one cents of state debt, which is at
once and forever extinguished under the
provisions of the above reciled act. The
occasion is fit and proper for congratdla-
ton, that we have thus fortunately and
happily made a commencement in the
great work of extinguishing the state debt;
and that we have succeeded in dissolvng,
without loss to the state, the odious con-
nection between bank and state, which
has heretofore existed in The business Of
bank speculation.
One hundred thousand dollars of the
bonds delivered 10 me, had been hypothe-
Gated to the bank, by the Fund Commits
sioner, for a loan Of fifty thousand dollars.
which had not been repaid. The delivery
of these bonds has extinguished that debt;
in addition TO which, the bank has entered
a credit in favor of the Fund Commissio-
ner. for the further sum of fifty thousand
dollars, to be taken into account, on fl
nal settlement with .ha. officer.
The Auditors certificate were the evil
dences of claim of the bank on the state.
for moneys paid in redeeming AUDITORS
warrants, and were equal to SO much
cash advanced TO pay current expenses.
By getting up these certificates, a debt is
ex,inguished to the amount of $751;
sol 81, contracted to pay ordinary ex-
penses, and occasioned by TOO liberal
appropriation of money from the treasury.
and deficiency Of revenue.
This claim being now extinguished,
am happy 10 state that settlement has
been made between the Auditor OF Public
Accounts and the bank, and that the Au-
ditor has obtained from the bank full re-
receipt for all demands arising out Of the
connection between the bank and the trea-
sury. The state now owes the bank
nothing on account Of that connection;
and the debt due by the state TO others, on
account of the ordinary and domestic adj
mnistra,ion of the government, has been
so reduced, that on the LIST day Of this
month, it amounted only TO the sum Of
S40,s5s 90, in place Of S32s, $40 40, the
sum to which it would have amounted if
this arrangement with the bank had not
been made. This debt Of $4O,S56 % is
not due TO the bank, but to individuals
who hold that amount Of outstanding Au-
dtor's warrants, which have not been re-
deemed by tisesbank. ~ t-o
tits proper, also, 10 remark, that have
been informed at the Treasurer's Office.
that there is now in the treasury the sum
of S2S.l59 OIL, in the notes Of the two
banks, which, although greatly deprecia-
ted, can be made available, by authorising
them to be paid out at two dollars for one,
to reduce the present Indebtedness Of the
treasury to s26,77s 81; thus placing the
state in better condition. in regard TO iis
debt, contracted for ordinary expenses.
than il has been in for many years past.
With little economy and wise foresight
as to the future, the treasury may easily
be kept in this enviable condition.
As yet there has been no settlement be-
tween the Fund Commissioner and the
bank and | am, therefore, not pref pared
at this time, TO inform the general assem-
bly, how an adjustment Of the accounts be-
tween them will result; though Ihave
;eason 10 believe that no great difference
exists in the accounts on either side. 80
. The bonds and certificates received from
the bank have been duly registered in the
Secretary's Office; and | will be prepa-
red, agreeably to law, TO produce them, in
front Of the State House al Q o'clock, on
Thursday, the OH day Of this month,
that they may be destroyed in presence
Of The general assembly,. = ei.ip'
am, most respectfully, 20.
~" .4 liies&iN THOMAS CORn