The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1855-12-04
GOVERNORS. MESSAGE.
Fsiier- Cssi,sas Of tAe Stna.s

4 ==ess s-sF IVA of fhe House OF Dktsgdfcs.
In accordance with the provisions OF the now
constitution, making tho sessions az The rcnsr.,
assembly btenhie, two years have elapsed sinca
the assembling Of the last legislature; and am
happy TO inform you that am not aware that any
OF tho essential interests of the commonwealth
| have suffered. On the contrary, time has been as
fordcd the people to examine and test the bearing
sna effect OF the various laws enacted by your
predecessors. The credit of the state has not been
endangered by heavy additional appropriations
aud the large expenditure incident to session ~
the general assembly has been avoided All which
tend to demonstrate the favorable working of our
organic law. - =
After this long interval allow me 10 tendc, ,o,
my salutations, and to congratulate you upon the
general prosperous condition of our beloved conn.,
! monweath. There has not been but one G rc,m.
stance 70 mar our felicity. and that am happy to
say is at last passing away. The pestience which
has prevailed for the last three months in the CITY
@, Nor1oik and town Of Portsmouth has cast a
sioom over the whole state. We sincerely lament
with our fellow citizens the ravages and desoation
which death has wrought among them IL has
awakened the deepest sympathy throughout our
own borders, aud proved that the kindly ties of
orotheriy affection peryade sister statea, who,
win our own people, have contributed largely to
relieve the wants and minister to the comfJrt of
the hlcted We can but entertain the hope that
with the return of the citizens to their homes and
the restoration of their ealh business and COM
meree VIII revive and renewed prosperity may
att end them. Viewing this visitation as a subject
for humiliation and suitable opportunity for ae-
krpwiedging our dependence upon a kind Provi.
d6 nee, thought it proper occcsion for setting
apart a day of thanksgiving, and recommending
6 observance throughout the state, under sense
OF gratitude for the removal of this impending at.
niction and for the unnumbercd blessings hitherto
bestowed upon people. In accoi dance with
tbis Recommendation, the day was observed
/ In the discharge of the numerous responsible
| duties which deyolve upon you, as the chosen re-
preventative of free and enlightened people, am
sure You will not for moment cease to remember
that tho honor, interest and future welfare of the
| commonwealth has for a season been committed to
your guardian care, and that upon your action, at
TINS eventful period of our history, depend
| an mo efnite time the veal or woe of our common
couD'trv.. s-s
I;regret that the situation of the finances of the
commonwealth will not enable mc to present them
as IN prosperous condition. But while this Is un-
do ubtediy true, apprehension need be felt that
nple provision will not be promptly made to meet
every liability and to place the treasury hereafter
in position not TO BIO jeoparded by unforeseen
contingencies The people of this ealth
place too high an estimate upon the necessity of re-
deemng her pIghted faith ever to object to the
taxation necessary to meet her engagements, and
their representatives will with alacrity provide
| the revenue TO meet the emergency. .-.~.-i
From the reports OF the accounting officers, you
viii perceive that there has been during the last
fiscal year, considerable deficit in the treasury
To supply which it was necessary to resort to the
power vested in the executive, of raising by tempo
rary loans on the credit of the state, the amount
required by the want. Of the treasury This
amount was readily furnished by the Bank of Vir-
/ ginia, the Farmers Bank, the branch of the Ex-
change Bank at Richmond, the Merchants and
/ Mechanics Bank at Wheeling and the Northwes.
tern Bank of Firgnis. The interest on these loans
has been paid out of the civil contingent fund
The entire receipts of revenue into the treasury
exclusive of the Internal improvement fund and
the Literary fund, shown by the exhibits of tha
auditor of public accounts, amounted to 81 746,-
a5S o9, which, with the balance in the treasury at
tho end of the preceding fiscal year, of $50. .e9l o.
1 makes a total of 81, ,797, ,St9 II. The warrants
the same period. excluding the same funds,
amounted to 81 80, ,S6s 10, showing an actual de-
felt of S3a5,0lS "a, which, as before stated,
provided for by temporary loan of $500 600. The
treasurer under the provisions of the law, executed
his notes to the banks, payable the 18th instant
But the revenue of the state is payable until
that time, and a sufficient amount cannot be re-
ceived by that day it will be necessary then that
these notes be renewed This accommodation it
Is understood, the banks win not hesitate to extend
In addition to this deficit, exhibited by compar-
lson between tho receipts and disbursements, it is
proper to state, that sundry appropriations made by
| law and which were to have been paid within the
last fiscal year, have been deferred in consequence
4 of want of funds. These amount, in tho aggre-
| gate, to about S230G0O, and viii require an addi-
tional amount to be provided to pay them during
the present year.
| During tho months of December and January
! arge portion of the commonwealth's revenue is
payable and viii be received amounting, if is esti-
mated, to 81 l30 COO The interest due on the pub
| lie debt, and payable on the LIST of January, is
$727. 600. While, therefore, the amount in the two
months will be largely more than sufficient for the
payment of the interest, and for the ordinary ex-
penses of tho government yet, is necessary to
meet the interest punctuay the treasurer has been
| authorized to negotiate a further temporary loan
| for whatever amount may be requisite.
| 1t may be asked, what circumstances have pro-
duced this extraordinary deficiency in the reyenuef
The estimates of receipts and disbursements
for the last two years were made by the legisla-
ture of 1855 and of course upon the circumstances
tknr
existed before, and which had not previously
proved fallacious, and were therefore fully relied
on but which, under the condition of the country
and its monetary affairs since have entirely failed
1t is known TO the genera assembly that the sur
plus revenue of the Fund for internal improve
ment derived from the profits upon its productive
stocks, and all premiums upon the sale of state
securities required to be paid into the treasury
As the Board of Public Works were authorized to
subscribe large amount to works of internal inl-
provement and to negotiate the sale of state bonds
to meet these subscriptions, and these bonds were
then at premium of five or six per cent. q consid-
cradle sum was estimated to be received from this
source. 1t was with equal certainty supposed that
the companies, which had heretofore punctually
paid the interest upon the loans made to them by
the state would continue to meet their engage
ments f,ut this they have not been able TO do,
and this resource has failed. Some of these com
panies, which at the time of the estimate were
paying handsome dividends, and had been so pay
ing many years, have from the necessity of re-
laying their roads with heavy rails and from the
Pressure OF the times, been forced to suspend the
payment of dividends altogether, to pay them in
scrip, payable at future day, bearing interest,"
thus increasing the deficiency
BY the estimates of the last fiscal year, based
upon these contingencies it was calculated that
there would be received in the treasury, from the
I surplus of the internal improvement fund.- $780,
975 SO cents, while the amount actually received
| was only ,59l, showing deficit in this item
alone of S46s 3e7 60 cents. Under the constitution
| and law, the commissioners of the Sinking Fund
were required to pay off that portion of the public
debt redeemable within the year, and to liquidate
the interest upon the whole permanent debt To
| comply with this Requirement, the auditor was
| forced under the law to place the amount to the
| credit Of the Sinking fund, and thus produced at
| once the deficiency in the treasury. 1t is known
also that the tax on licenses, 10 some extent is
| contingent one. The county courts throughout the
state have the power to grant or withheld licenses
to the keepers of ordinaries and persons engaged
In the sale of ardent spirits and the tax on such
| licenses depend upon the grant. Under the hope
of reforming the morals of the people the friends
of temperance have induced many of the courts to
| refuse iieensas Ern1u other rauaaa