Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1849-01-04
but also to commence paying off outsland.

ing bonds.
Such is part Of the history of our con-
dition a few years back; and such is the
history of our condition now. The chan
ges have been important and fortunate for
us. We owe much to the favors of kind
providence for this improvement in our
condition, and much to the fact that we have
manfulIy put our own shoulders to the
wheel; something to the distress and misfor
tunes of other countries, but much to the
good health and bountfu harvests of our
own; and much more 10 wise legislation
the freedom of trade.
REVENUE.
Our revenue is ina good condition. The
amount received in the last two fiscal years
ending the thirtieth of September, ls4s,
is $435,643. From this sum however,
should be deducted 10000 dollars borrow.
ed under an act entitled ian act to sustain
the credit of the State" This deduction
would leave of net revenue for the last two
fiscal years 4l6,643 dollars. The revenue
for the two preceding fiscal years was only
330,76S dollars. The two sets of figures,
show an increase of revenue in the last
two fiscal years of $3.50 dollars. The
increase in the year 1889 over that of
1886 is 1896 dollars, and over the year
1885, 6O,l27 dollars
The amount of revenue expended du-
ring the same period, including the pay
ment Of interest upon the State bonds is
about $4,000 dollars, leaving on hand
over $4,000 dollars. The revenue for the
next two years, will hardly fall short of
100000 dollars; and the expenses will be
only about that of the two last years, say
$4,000 dollars, including $4,000 dollars
interest upon State Bonds; leaving sur
plus to be applied towards the payment of
debts, of $1,000 dollars.
These figures show a prosperous condi-
ton of our revenue, and ifno change is
made for the worse, instead of borrowing,
as we have heretofore done, to pay interest
upon State bonds, we may now commence
discharging the debt hanging over the
State. In fact the work has already been
commenced. Under the act to sustain the
credit of the State, the executive was au.
thorized to borrow the sum of $4,000 dol
lars. Of this sum, the Treasury having
been previously exhausted, first, by the ses.
sion of the convention, and, second, by
the session of the Legislature soon after
wards, 10000 dollars were borrowed and
no more; being $1,000 dollars less than the
act authorized the Executive to procure
This was not actually paying debts, but it
was avoiding the contraction of them,
where it had been supposed it might be-
come necessary to contract them. But
over and above this, one bond of 10000
dollars, given to the Branch Bank at Jack.
son, has been paid off and the bond can
celled and filed in the Auditors office. This
is the commencement of the discharge of
our public debt, and is an epoch in the his
tory of our State which deserves to be
marked and remembered. We should now
congratulate ourselves on having reached
the end of our road in extravaganza, and
for the future we should continue to re-
trace our steps, never looking back till all
our public debts are faithfully discharged,
and the State released from the grasp of
the bond holders. Every item of revenue,
whether small or great, should be carefully
saved; and when not needed for other i'm
portant purposes, should be applied to the
REPORTS.
The reports of the Auditor and Treas
urer, and of the Superintendent of Com
mon Schools, and Of the Inspectors of the
Penitentiary, will be presented to you at
the proper time.
AUDITORS.
In the Auditors Office several changes
have taken place since the beginning of
my dministration-the term of service of
the first incumbent expired-the next, the
Hon. VIM. Monaco, resigned, and soon af.
ter died-and the next, the Hon. James r.
McDearmon, died while in office. Ofthese
two men, it is right to say, that of their
competency and faithfuness, their works
are the best evidence. Both were upright,
honorable and correct; and each ever seem.
ed unconscious Of the extent of his own
worth and merit The loss of these good
men has been unfortunate for the country;
but, from the examinations, the Office APP
pears at each change to have been fortu-
nately filled.
MONEY BORROWED.
The 10000 dollars worth of bonds
previously alluded to--and sold under the
act to sustain the credit of the State, were
sold mainly TO citizens of the State, and
made to bear eight per cent. per annum in.
terest, the lowest rate at which any offers
were made TO take them. A much larger
sum could have been disposed of, had the
money been needed for State purposes
but care and economy and improving reve
nue. enabled us to meet our obligations
without involving the State TO any great