The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1860-01-12

were for the preceding year, it is source
of congrstulation that, under such oir-
cumstaUces, q result no favorable has been
produced by the ordinary operations OF
the Treasury.
For nearly two years past, the State
has been entirely free from the ownership
or management of canals and railroads,
aud the gratifying result, thus far, is,
that her public debt is now less than it
has been since the year 1912, and is de-
creasing at the rate of nearly one million
of dollars per anuum. It is now morally
certsin, that nothing but the grossest mis-
management Of the financial interests of
the State can prevent its sure aud speedy
extinguiShment. Why should not Penn
sylyaDia press onward until she is entire
ly free from debt She is no longer en-
gagged in the construction OF great works
OF internal Improvement, nor is she the
proprietor of railroads and canals. Re-
lieved of these, governmental action is
greatly simplifed. and is now happily lin
ited to suhjects Of purely governmental
character. Having ceased to be interes-
TED in ordinary business pursuits, it il her
plain duty to devote her best energies to
relieving her people from the burden of
sn onerous debt When this great result
shsll have been accomplished, the neces-
sary expenditures of an economical ad-
mi0strstjou Of the government can be
readily met without the imposition of
State Tax on real aud personal estate
the remaining sources of revenue being
more than suflicient for all legitima ate pur-
poses. Until that end, so anxiously look
cd to. is secured, true wisdom, as we'll as
sound policy, dictates. that our resources
should be carefully husbanded that none
OF our present sources of revenue should
be cut of or diminished-that all depart
ments of government should consult
proper eoonomy--that all extravagant and
unnecessary appropriations should be a
rolded--and that every new scheme for
embarrassing the tresrury sho1ld meet
with marked coEde.2 nation.
Encouraging, as arc the results of the
past tTo years, it must not be forgotten
that We bave just com mmouced the pay
ment OF the principal OF our debt; and
that to prevent nisapplication of the
public 6napces, aud thereby Insure con.
tinuance Off reduction, fom year to year
is msnfestly the first duty of those placed
By the Constitution in charge of the pub
lic Treasury, aDd to whom belongs the
exclusive right OF raising, econonzing
and spproPriating the public revenue. |
earnestly commend this whole subject to
the careful attention of the Legislature
entirely satisfied, that, as it is the most
vital OF all the interests com uitted to the
charge Of the General Assembly, it will
receive tbat consideration which its impor-
tance so eninently demands.
In my last annual message, [ comnu-
nicsted to the General Assembly all that
up to that period, had been done under
tie act, entitled Gan Act for the sale of
the State canals" approved April 2l,
1883. Since the adjournment OF the last
Legislature, satisfactory evidence having
been given to me, Of the compliance OF
the Sudbury aud Erie railroad company,
with the conditions mentioned in the third
section OF the sct referred to, the State
Treasurer, under Dy direction. has deliV-
cred to tie company the canal bonds for
two millions Of dollars, deposited in the
Treasury under the provisions OF the said
act.
The railroad company has also become
entitled TO. and has received, one million
Of dollars, OF the mortgage bonds refer
red to IA tho sixth section Of the same act,
leaving mortgage bonds amounting TO Two
and hsli millions of 6ollsr., still re-
naming 10 the Treasury of the Coiomon-
wealth, to be delivered to the company,
from time TO time, pore l2aSSu, with the
progress OF the work, as asoertained by
the returns and estimates OF tde chief en-.
ginasr of the said company When the
bonds last mentioned, shall have been sur
rendered to the company, as directed by
la W. the State will still hold, as absolute
owner, three and half millions OF doll
lars of the mortgage bonds of the compa-
ny, payable in the gear 1872, snd in the
Six succeeding years. as mentioneo IN the
act Of Assembly, wth interest, at the rate
OF five per ceutuw, payable semi annual
ly, on the thirty 6rst days of January
and July Of each year. Interested, as
the Com moswesIth is, in the early COM
Pietlon of this important thoroue bfare, it
affords me great pleasure to be abls to
inform the General Assembly. that the
progress Of the work, for the past year,
has been highly satisfactory.
The Eastern division of the road, ex-
tending from Sunbury. 10 the county of
Northuu berlsnd, to Wbetbam, in the
county of Clinton. distance of eighty
one mites, is 6nisbed;passenger aud freight
trains passing over it daily. The West
srn division, extending from the city of
Erie, to the borough of Warren, in War
rem county, q distance of sixty six miles,
e, also, CON pleted, with regular passen-
yer and freight trains now running over