The examiner. [volume] (Louisville, Ky.) 1847-1849, 1849-01-06
ssS.97l 81

Contingent expenses, Su w
Making, 2se,5l4 s.
Surplus for ls49, ssS.97l s.
II sppesrs from The foregoing that the Sinking
Fund has, in the course OF the present year, no
only furnished the means OF paying Prneinally TIT
interest Of the public debt, but also OF extinguish
ing so ,OGS of the principal. And the estimates
| made for the year lS49, assures us OF an equally
favorable result, ard exhibit balance, after pay
ment OF interest, of fS3,gal 81, applicable 10 q
further reduction of the debt. The payment oil
the semi-annua interest due on the lst January,
has been fully provided for. And, so far, II IS be-
ieyed that the expectations OF the General Assem-
by have been fulfilled, by the operations and ef-
ieels of the Sinking Fund. These results, and the
prospects for the future, show the solldlty OF our
means and our credit, and will be Just source oil
Qualification 10 the General Assembly.
Our State debt Was created, chiefly, IN The con-
slruclon of works of Internal improvement, and
dates its origin froIl the overthrow of that system
/ by the General Government IL having been set
| lied, AT Washington, that there could be no nm
pTOyements within The limits OF kentucky that
/ would properly fall under the head of National
works, il became necessary for the General As
semby, in order that Kentucky might not he put
| Al disadvantage BY the superior public spirit OF
/ other States, 10 undertake the improvement OF
| our own roads and rivers. This was necessary TO
facilitate the intercourse between the People, 10
stimulate their industry and aid their commerce
/ thus enabling them 10 come into equal competition
with their rivals an enterprise and business. IL The
application otthe money appropriated Tor these OBJ
| iects hes not, always, been the most economical
and judicious, yet the system was lnquestionably
ounced in a split Of patriotism, and in laudable
desire suitably 10 improve the country Providence
| has assigned us. When due allowance is made
Tor the Disadvantages attending first experiments,
and the unavoidable concessions necessary 10 Ie-
| concile conflicting interests and insure hamoni-
] IN n
| complain Of Our citizens have, certainly, de-
rived great advantages from the public works even
| IN their present incomplete condition, and the
/ State is receiving an increasing remuneration
from the tolls collected from The roads and rivers.
\ There is much reason TO hope that these receipts
WILL in a few years, directly contribute, largely,
10 the discharge OF the debt incurred in their con-
MISUNDERSTANDING entirely out Of the calcula-
ton the increased value of lands and property and
the new sources OF wealth 10 which they have CIV.
en- rise, and lhst greatly augment the annual rev
I snu~.
The course OF legislation for the last few years
/ indicates, clearly, the popular Will that nothing
/ should be done 10 diminish the power OF the State
/ 10 redeem, At maturity, her outstanding bonds,
| and 10 meet, with unwayefing pEOnptness, every
| payment of interest al the places and times when
aud where they may tall due. ! accord, most I'M
reseTy edly my appreciation Ia the stern honesty of
people that bids them he Just, before they con-
| suit their convenience, Their comforts or then
I
/ mend any measure thai may haEsrd that sound
4 PriEciple-a principle important for the good
/ name OF SlaIe as % sn Individual Nor would J.,
| AT the same time, advise the unwse economy that
buIes the talent, intended for increase, through
| au unfounded fear hat we are serving hard mas
] teTs. know thatOut constituents desire us 10 do
all that may be done, within the limits of sslulsry
| prudence, 10 develop the resources OF the State.
/ And have fear but that il is within the coTl-
pass OF wise legislation 10 connect together the
broken links in the chain Of impro Semens already
| constructed, 80 as 10 make them conduce 10 lie
| purposes for which they were undertaken, or to
| give such extension % other works as will adapt
/ them 10 the wants OF more extended section OF
/ country, and thus greatly increase the public
wealth without involving us by a uinous enlarge
ment OF the existing debt 10 your better ludg-
menls, however, such subjects may be more pop
eTy submitted, and IL is not Appropriate TO M Of
nee TO say any thing more than TO promise my hesI
| ~ co operation in any measures that will promote
| the general interest without encToachment upon
the resources that necessary 10 eriingush liza
blities already incurred. desire 10 add, that If
| the General Assembly shall find IL necessary, for
any purpose whatsoever, 10 augment the public
debt, they should accompany their legislation with
such provisions, either by an increase OF the re-
sources of the Sinking Fund, or otherwise, as will
insure its redemption at maturity, and The pune
| tusl payment Of the interest. The prompt payment
OF our debt ought not 10 be regarded as question
of eKpediency or policy. II is matter ofduty. The
preservation of the faith and credit OF the State Is
something more Than mere abstract sentiment
that IL is the preservation Gifts honor. IL is part
othe property and strength OF the State, and they
who squsnder it, bring on lamentable poverty and
| weakness.
II The annua. Report Of the Board Of Internal
Improvement you are referred Tor detailed ac-
| count of the condition Of the public works and
the operations of the Board during this year. A
change occurred in the Office of President By the
resignation OF Mr.. Mstcalfe, who, for many years,
had discharged its ard nous duties with credit TO
himself, and 10 the general satisfaction OF the
country His successor has, since his appoint
ment, spared no pains in making himself thor
oughly acquainted with the whole subject, having
visited, in person, all the iworks, either on the
Rivers or Roads, in which the State has any inter-
est, and diligently applied himself TO giving them
| the highest degree OF efficiency and security
From his report, feel confident that you will de-
rive much valuable information; and 10 such sug-
gestions as he may deem proper TO lay before
You, ] would invite your most attentive consider
/ alton. -
Intimately associated with system intended 10
increase the facilities for exporting our products
10 market and bringing in, on the most favorable
| ter MS whatever articles we desife to import, is
the application Of the science OF Geology 10 test
the various properties of the soil, and 10 indicate
| where the valuable minerals with which our State
is known TO abound will best reward the labor ne
cessary 10 uncover them and bring them into use.
1 have received communications from scientific
gentlemen, and been personally applied 10 by
some Of our most successful farmers, TO bring the
subject of Geological Survey befofe the Genera
Assembly and invite their action upon IL There
Is certainly deep interest felt in the subject BY
4 many OF our most valuable citizens and we have
the example of other States TO encourage US, who
have already Teaped great advantages iTom simlla
surve Is. Twenty States have engaged IN this
work, and some have expended large sums oil mon
ey upon il. Something is also due by wsy OF Teci
procity towards those who are thus engaged in ex
tending the scientific knowledge Of their country
aud would recommend an annual expenditure
for two or three years of an amount sufficient Il
deffay the expenses OF General Survey. From
that surrey enough would be indicated TO advIs'
> the country of Che policy OF prosecuting NOR
: thorough and minute survey thereafter
The condition of the Penitentiary is always
subject of interest TO the General Assembly, AM
A il gives me pleasure 10 state that under the man
= agement OF is humane, mild, yet hm aud Jnd
a cious Keeper, il is in most respects, afs SeIln
The purposes for which il was intended. Tn
: number of persons in confinement on the LIST "a
i of December was one hundred and sixty-one.
these, one hundred and fotly-fve white msles-
g thirteen negroes and mulsttoes-two mexicans
and one hlbino. There is not female in the pris
n on. In consequence of the destruction OF th
s buildings by ere and the necessary rebuilding G
them and the construction Of other houses aud IN
purchase of ground and great enlargement OF III
= enclosure, the State has not for some time der
we'd any direct from the labor of the cor
yicis. But am informed by the Keeper tina
there is every reason 10 expect that as snch unfo
/ seen and unavoidable expenditures have nearly al
been incurred, the Institution will soon be able I
s make dividend or profits that will add much I
the available resources OF the Sinking Fund. IN
j. animal report Of the Keeper will be laid befor
you at an early day Of the session
= For an accurate exhibition of the state OF IN
II Public Treasury, You are referred 10 the Report