The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1857-01-13

Governors Message.
Esuss cia.sns ef as Senate and Hsass Of Rsprsss,
tasfssG
Ihave again taken the oath required by the Con-
sttution, and promised faithfully 20 discharge the
responsbe station of Chief Magi strate ofthe State
hav: been called to this high post BY a renewed
pressed in such emphatic manner as to awaken the
most grateful oi my obligation TO them and an
earnest desire to devote all my anerges TO the in
terests Of our beloved State and the welfare OF ts
inhabitants.
In communicating with your in conformity to the
requirements of the Constitution, IL Is for
N graduation, that the State for the last two years
has rapidly advanced in population in wealth, in the
development Of its resources, in educational acili
ties, and in all the elements Of progress which af-
fact the prosperity and happiness of the people, and
tcnd to grateness and renown. kind and beneh-
cent Providence has also shown upon us his mer-
rcst and his blessings. No pestllental or epidemic
'dsease has visited our borders; and unusual good
health has prevailed in ever section ofthe state
The agricultural staples have been produced in a
bundance-all the branches OF trade and commerce
and business have prospered--a steady demand has
sxsted for all the products Of industry and skill
highly renu nerative prces-a sound currency has
uniformly prevailed, and the laborer has been sure
of his reward. religious community should not
withhold tribute of gratitude TO the Author Of all
good for this rich bestowment OF his bountes.
IT. STATE FINANCES.
-. The reports of, the Auditor General and' State
<<tTrensurer will give you detailed and exact Bc-
tcurt OF the financial condition of the State The
amount OF money in the hands Of the State reasu-
ser on the 30th Nov, lsj4. was, 1853 GOA, ,08
And the receipts for the year pending ~
Nov, 30 1885, from all sources were b89, 1896, 90
SO. that the available means for the
year amounted to .sLlH,4ol,oI
The expenditures during that period, M
amounted to 62i,777,6 SO
Leaving in the treasury Nov. 81, 1855, 5i6,633,l3
The receipts into the treasury for the
year ending Nov 30 1856, were 5ll, ,27l 10
SO that the available means for the last
fiscal year have beon 81 oa7, 7,s9is3
Tbs expenditures during the last year
have heen Gag s7o o6
Leaving balance with Treasurer on --
the lat Doc. last, S3ss,Ols IL
OF the amounts charged in the expendi-
lures, there have been paid in the years 49,
debt. lao 3av 10
hnd ofthc inter est on the public debt in
ouding that pa ID on the trust funds. 25a 500 ia
over 1854, AZ 1855 80
Ca account Of tho constant sdii-
tions to the principal of the trust funds.
aud the new b,nls isiasd rr the unadjas
ted portion Of the SO ,O0D loan, which in
forest, was formerly added to the principal.
UnieI the act passed by the last Legisla-
tarc, REQUIRING the state Legislature to 70.
quire i've per cent. interest hpph the [mon.
,esl treasury, deposited in banks, the1ehss
bean received IN the year 1855; for interest,
90 9l3lJ
And IN the year 1856, 81 ,i99 81
Making in the two years, s5l ,6a7 ~
While the amount receive into tho treas-
ury in the two proceeding years was only, 1853 &c
The large dlsoJrsem snt, from tia treasury have
been acco ant Of appropriations made by the last
Legislature for the Asylum IN process ot erection at
Kalamazon and Flint for additional buildings in the
State Prs for the House 0fCurrectiJa for Juren
ie Offenders and ft'r the Agricultural College. while
,hs oriniry expenses of the state overnTnchs have
yielded 10 "A rigid system uf economy, AMI been
y materially reduced. Tn, Whole amount allowed
and paid BY the present Board of State Auditors up
TO the ist OF December last, bsiny period of one
year and eleven months Sa2 220 -
While there was allowed and paid by their prcde
cessors iu tho m,nth Disc. 1851. ,6IO7l 81
Under the law passed Feb. i2 1885, ,eqiir the
holders of tha part paid 5000 % bonds to present
them To b, aljustei, theirs has been refunded.
.,If $I,79s l35 co
AMI there only rem ,ins of that portion of ur in.
dcbteincss ia bonds uniquidated amount equal to
i2l 392 SIS
II i. believed that these bonds will b pres
entcd To the State Treasurer and new bonds issued
therefor. This happy adjustment of the pa t-paid
bonds Of the i've million loan which have long
hung over the State enables us to clearly the
exact present condition Of State Indebtedness.
The funded aud iundaSle debt of the State is as
follows:
University Bonds due July. 1850, %. o.Ooo 90
Detroit and Pontiac Railroad Bonds, due
July, 1853, 81 oJo co
Psatenti,ry B,nl,, due Janu,ry, 1858
oo.0o) oo
Penitcntiary R'nds, due 1869, 40, ,oJJ o0
Internal Improvement Warrant bonds. in
terest stopped and pay able on demand. $3.50 90
ary. 1853, i7T 900 90
The part paid Eve million loan Bonds out
standing when funded, will amount to, l2i.392 SIS
Outstanding Internal Improvement War
rants, 4i5s IS
80. 1856, 81 274,9 ,935 30
It will he preceived that there will fall
r Al. a IF.
January, 1859, ai6oo) 90
On tie & rst Of January, 1e60 40. .0J0 90
And the remainder on the lst of January,
1863. So that our entire State indebtedness
will become due within period Of six years,
No provision has been adopted in conformity
to the requirements of the constitution to
create a sinking fund for the redemption Of
this debt. 1t is, perhaps, too late now to un-
dertakc to provide for its payment by this
mode, but it is our duty to adopt such meas
, ures rs will make certain provision for the
payment of the debt as it falls due. AL
though the surplus moneys in the hands of
the State Treasurer have earned five per cent,
and brought handsome sum into the treas
ury, yet it must be recollected that the State
pays an interest of seven per cent. to the sew
cral trust funds to which this money belongs.
} A proper foresight and economy would there
\ fore seem to dictate that all tho surplus mon
ey on hand should be employed in the re-
demption of our debt, and tho purchase Of
our stocks, even before they fall due.
In directing your attention to this impor-
tant subject trust that such measures will
be adopted as without excessive or burden
some taxation, will soon relieve US from all
Indebtedness on account of the five million
,oan, which in an evil hour our young aud
prosperous State become encumbered, to be
Eemembercd only, as warning against fu-
turc rashness or mprovidence.
I concur entirely with the Auditor Gencr-
al in bic recommendation for amendments,
in the manner Of assessing property, and in
levying and collecting tares. All the prop
erty in the State should hear its Just proper