The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-01-12
Governors Message.

Germs however, actively developed by recent
events, will mar the harmony and unanlm'ty
with which the members OF the Legislature
will devote themselves to promote the inter
interests, and improve the domestic policy OF
our own State. Il
The recent election of President aroused an
unusual degree of popular excitement, attend
ed with much acerbity and fears. ne CRISIS
has passed, and the votes OF four million o.
sfreemen have allayed the excitement and tears,
and the people have returned to their usual
peaceful avocations, and have found good /
where only evil was prophesied; and evince
determination to sustain the right by what |
ever hand administered. And in like manner
it is to be hoped their representatives. IN the
Legislature will forget the angry discussions
in which they elsewhere participated, IN the
eagerness and unity with which they Will
direct their efforts to secure the prosperity Of
the State.
The State is prosperous in all her interests
and maintains a growing and commanding
position among her sisters in the conlederacy
The laws exert their benign influence and are
respected by the people. Though the asrlcuI-
tural interests of some portions OF the state
have been seriously affected the last season by
the drought, yet we have abundant reason to
be thankful to experimenting Providence Tor
the lnQutDeraDic DleSSll5S USSlo"S A vi 10
STATE EXPENDITURES.
The first subject demanding the attention
of the Legislature, is the financial condition oil
the State Economy has been observed-the
interest on the State debt paid, and the i'm
portance of its reduction not overlooked. The
expenditures for the year ending Oct. 3lst,
1856, were $147, 442,61. For the year ending
Oct 31st, 1856, they were S5J, 1922. SO. The
of tba tho "a W
caused by expenses of the Legislature. The
amount of the expenses Of the last, for State
of 100000 inhabitants, is believed to b? pro-
portionable less than any other State III the
Union.
RE-APPRAIsMENT.
The first matter that should receive the at
tention of the Legislature is law providing
for the re-appraisment Of land for taxation,
and it should be done so that the county Of
fcers could begin their labors before the close
of the session.
OLD STATE BANK.
The corporate powers of the State Bank
will close in January 1859. The State has a
deep interest, as Joint owner, in the successful
settlement of it's affairs. In the main the
bank has been we'll managed, for the profit Of
the stockholders and for the interests of the
people, No institution has enjoyed a wider
credit or more general confidence Of the pub
lie. In its original organization there was no
fvoritism in the distribution OF its stock,
which was was taken in small amounts by
onr farmers, mechanics, and mechants. 1t be-
gan its operations, therefore, under auspices OF
favorable public sentiment, and throughout
it's course was sustained by the most decided
marks of friendship and good will at the hands
of our citizens. Like all banking corpora
tons, however, it has had its hvorites in many
portions of the State, and has been, in many
respects, a splendid monopoly.
By the statements of the President it will
appear that the funds of the State in the bank,
after paying the bonds given for the stock
will amount to nearly two million, if the bank
be prudently managed. Efforts will be made
to divert this vast fund from its appropriate
channel, and, in some manner, to control 1t
for the promotion of private interests. In an
ticipation of such efforts, it is earnestly re-
commended that no sales, or transfer, of the
interest of the State in the Bank, shall bl
permitted either to individuals or copora
tons.
THE STATE FUNDS IN THE OLD BANK.
The charter makes ample provisions fol
closing she affairs of the Bank. The fund.
belonging to the State are to be collected IT
cash and paid over to the Sinking Fund Com
missioner to be by them invested, as the Law
may direct, for the purposes of common schoo
education. A fund so sacred, and for pur
poses so beneficial to the people Of the State
should be, forever, preserved inviolate. /
should not be permitted to tempt the cupiditS
Of individuals, or used to augment The pow
ers, or swell the Golfers of any corporate mo
nopoly.
The present mode of Investment of tb,
Sinking Fund, is, chiefly, in mortgages upor
the real estat, of our citizens The faciltie
thus afforded for narrowing money, create
spirit of speculation often terminating il
bankruptcy and ruin to the borrower. TIL
long lists of lands forfeited to the Fund, 70
the non payment of principal and interests
admonishes us to seek for some other mod
of Investment, which shall be equally safe AM
productive. | have repeatedly suggested an(
now renew the recommendation, that tn
Sinking Fund Commissioners should be au
thorzed to invest this Fund in the bonds of til
State, under limitations as to principal am
market value; thus changing the character O
our obligations from foreign to domesti
debt; the interest upon which, when collected
from our own people, shall be Immediately re
imbursed to them, in the accomplishment c
that high and most enobling object of human
government, the education of our youth.
is high trust, and will be most truely per
formed, when we shall connect the education
Of our children with the character, integrit
and honor of the State. In this manner a
least one-third Of our whole foreign indebted
ness may be absorbed; lessening the burden
of the people, and elevatng the financial char
acter of the State.
STATE DEBT.
The amount of the outstanding funded del
of the State Is:
OF five per cent stock, NEUTRALITY-SUSPICIOUS. l5G $50
vi TWO ana half cent stock. D t2JII
SOyO. OIf
The market value of which, estimating tn
per cent. at "a, and the 2115 per cent at