Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1859-01-12
GOVERNORS MESSAGE.


To TIE Honorable the Senators and Members of the
HOnSe of Representatives. Of tie Common
aceaM Of Pennsylvania
GENTLEMEN Although the year just closed
has been one of great depression in the busi-
ness and monetary affairs of the country, am
| happy TO be able to announce to the Represen-
tatives of the People, that the finances OF Pc mn
sylvania in most satisfactory condition.
The receipts of the Treasury, from all sour
ces, for the fiscal year, ending on the 30th day
of Nov. 1858, were 81, ,139,77S 35 and the ex-
penditures, for all purposes, during the same
time, were S3,775, ,S57 OF. Leaving an excess
of receipts over expenditures of 1868 ,921 %.
| This exhibit shows that there was actually
in the Treasury on the Ist day of December,
1858, the sum of $393, ,92l 29, more than there
was on the 1st day of December, 1857. In ad-
dition 10 this, among the expenditures for the
year, were Loans redeemed $3.50, ,306 IS; Re-
| lief Notes redeemed S41 ,071 90; Interest Ger
| tifcates redeemed SIG 20; making of the
| public debt funded and unfunded paid during
the year the sum of S42l ,494 So.
If we add to this the excess of money on
hand, at the end of the fiscal year, over what
remained in the Treasury, at the same time
| last year, VIZ: S363, 921 %, we have the sum
of S7S5.4l5 ga.
But this is not all. The amount paid on the
public improvements, including damages and
old claims, during the fiscal year, S34l =
| 036 So; while the amount of revenue from the
same source, for the same period, was only
| S95, ,010 06; making an excess of expenditures
over receipts, which happily we will be reliev-
ed from in the future, of S245, 1866 50.
This sum should, also, be credited to the op-
| erations of the Treasury, during the year, for
| it was an extraordinary expenditure, which can
! not again occur; and was, in fact, reduction
of the liabilities of the Commonwealth, to that
| amount. If we add this sum to the amount of
debt, paid, and the excess of cash on hand we
have for the year, balance in favor of the re-
| ceipts, over the ordinary expenditures, amount
ing in the aggregate to 81 ,03l ,3S2 36.
But from this, however, should be deducted
the extraordinary receipts, which were, lst.
The amount paid by the Penn'a Railroad Com
pany, OH the principal of the debt due by the
said Company, for the purchase of the Main
Line 100000; and 2d. The amount received
from the Girard Bank, for loans of the Com
monwealth sold by that bank, S2S, ,000-in all
Sl2S,OOO; which, deducted from the foregoing
| aggregate of $ ,03l ,3S2 Sc, leaves the true
balance of the ordinary receipts over the Or
dnary expenditures for the fiscal year at
S903, ,3S2 sc.
The funded and unfunded debt of the Com
| monwcaltli, on the lst day of Dec. 1857, was,
Funded debt, S39, ,734 ,592 81; Unfunded debt,
| Sl75 l45 40; making the entire dett OF the
State at the period named S39, ,909,73S %.
| The funded and unfunded debt of the State
at the close of the last fiscal year, Dec. 1st
1853, was, Funded debt, $50 ,35i ,2S5 67 Un-
funded debt, $l33, ,95S 90; making the public
debt on the 1st of Dec. last S39, ASS, ,5i5 81.
Since the close of the fiscal year, the Com
nlissioncrs of the Sinking Fund have redeem
cd of the five per cent. loan, the sum of $500,
1872 81, leaving the real debt of the State at this
time, funded and unfunded. S39, 9,26S, Ill 16.
To meet this, besides the ordinary sources
of public revenue, the State owns bonds re-
ceived from the sale of the public works, and
| which | have every reason to believe are well
secured, amounting to eleven millions one
hundred and eighty dollars. Deducting
this from the outstanding debt, it leaves to be
otherwise provided for, the sum of S2S ,0S1 =
Ill l6. 1t is believed that, with the existing
sources of revenue, and the observance OF
strict economy, this sum may be reduced
during the current year, ut least 81 900 900.
The present would seem to be the appropri-
ate time, e,-when our nation is at peace, and
when health and reasonable prosperity prevail
within our own borders,-to greatly reduce
the public debt. We have but to carefully
husband our legitimate resources, avoiding
extravagant and unnecessary appropriations,
and practicing proper economy in all the de-
partments of Government, to render the en-
tire extinguishment of our debt a fixed fact
within very brief period. To carefully
guard the public treasury at this interesting
epoch in our financial history, is so manifestly
the duty of the public authorities, that ! can
not for one moment believe that any other
pQlicy will be proposed If there be any,
who, relying on the improved condition OF
the finances of the State, would encourage the
adoption OF new schemes fer depicting the
Treasury, or would cut Oft the sources of our
present revenue, and thus reduce it. let all
such efforts, coming from whatever quarter
they may, be Sternly resisted. Let Pennsyl-
vania be just before she is generous. Let our
good example be light in the pathway of ouI
sister States, as well as an admonition to our
own local governments. This is due alike to
} the favors which Providence has so bountful-
/ ly bestowed upon us, and to that high charac-
ter for honesty and integrity which has ever
} distinguished the people of this good old Com
monwealth.
In pursuance of the act entitled can Act
for the Sale of the State Canals" approved
| on the 2lst day of April last, 1 did, the
Governor of the Commonwealth, on the 18th
day of May, 1858, convey to the Sunbury and
Erie Railroad Company, all the public works
belonging to the Commonwealth, then remain
, ing unsold, consisting of the Delaware Divi-
: sion-the Upper and Lower Branch Divisions
the West Branch Division-and the Susque-
hanna Division of the Pennsylvania Canal
with all the property thereunto belonging, OF
in anywise appertaning, and all the estate.
, right, title and interest of this Commonwealth
therein, for the sum of S3.500,000. To Sc
cure the payment of this sum, the Sunbury
and Erie Railroad Company paid to the State
Treasurer its bonds, secured by mortgage
as directed by the act, for the amount OF the
purchase money. The company, also, COM
piled with the provisions of the Act which re-
quired it, as additional security, to execute
and deliver to the State Treasurer mortgage
Q on the Delaware Division for S1,000,OO0-a
mortgage on the Susquehanna andW estBranct
Divisions for S500, ,000-and a mortgage on the
Upper and Lower North Branch Divisions fol
$500 900. The deeds and mortgages were al
. executed under the immediate supervision o
the Attorney General, and were in strict con