The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1860-01-19

ana Is now naHpliy HHlteu 10 SUBJECTS OF
purely governmental character. Hav-
ing oeasea to be interested in ordinary
business pursuits, tits her pisir duty TO
devote her best energies to relieving her
people from the burden of an caerous sebt
When this great result shall have been
accomplished, the necessary expenditures
| of an economical administration of the
government, can be readily met without
the imposition of State tax on real or
personal estate--the remaining sources of
revenue being more than sufficient for all
legitimate purposes. Until that end, so
anxiousfy looked to, is secured, true wis
dom, as well as sound policy, dictates,
that our resources should be carefully hus-
banded-that none of our present sources
of revenue should be cut off, or diminish
ed-that all departments of governments
should consult proper economy-that
all extravagant and unnecessary appropri-
ations should be avoided-apd that every
new scheme for embarrassing the Treas
ury should meet with marked eondemna-
| tion
Encouraging, as are the results of
the past two years, it must not be forgot
ten, that We have bSst just commenced the
payment of the principal of our debt; and
that to prevent a misapplication of the
public finances, and thereby insure con-
tinaance of lis reduction, from year to
year, is manllestly the first duty of those
placed by the Constitution in charge Of
the Public Treasury, and to whom belongs
the exclusive right of raising, economic
ing and appropriating the public revenue.
| earnestly commend this whole subject
to the careful attention Of the Legislature
-entiFel y satisfied, that, as it is the most
vital of all the interests committed to the
charge Of bke General Assembly. it will
receive that consideration which its irn-
portance so emihently demands.
In my last annual message, | commu-
nisaaed to the General Assembly all that,
up to that period, had been done under
the aes, easftfed q AR Act for the sale of
the State canals" approved April p,
1853 Since the adjournment of the last
Legislature, satisfactory evidence having
been gwen to me. Of the compliance of
the Sunhury and Erie railroad company,
with ths conditions mentioned in the third
section Of the act referred to, the State
Treasurer ander my direction, has deliv-
cred to the 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 referred
to irf the sixth section Of tbs same act
leaving mortgage bonds amounting to,
two and half millions of dollars, still re-
naming in the Treasury Of the Common
wealbh, TO be delivered to the company.
'from time to time, pari passn, with the
progress of the work as ascertained by
! the returns and estimates of the chief
engineer Of she said company. When
the bonds last mentioned, shall have been
surrendered to the company, as directed
by Law, the State will still hold, as abso-
lutte owner three and half millions of
dollars, of the mortgage bonds of the
company, payable in the year 1872, and
IN the six succeeding years. as mention
ed in the act of Assembly, with interest,
at the rate of five per centum, per annum,
payable semi-annually, on the thirty-frst
days of January and Jaly Of each year
Interested, as the Commonwealth is, In
the early completion of this important
thoroughfare, it affords me great pleasure
to be able to inform the General Assem-
bly,, that the progress of the work for
the past year, has been highly Satlsfacto
ry.
The Eastern division of the road, ex-
tending from Sunbury, in the county of
Northumberland, to Whcthem, in the
county of Clinton, distance of eighty
one miles, is finished; passenger and
freight trains passing over it daily. The
Western division, extending from the
city Of Erie, to the borough of Warren,
in Warren county, distance OF sixty-sIx
miles, is, also completed, with regular
passenger aad freight trains now running
: over it daily. Making one hundred and
; forty seven miles of railway, along the
line of the route, that have been already
brought into practical operatien-one
! hundred and soven miles of which, ex-
elusive Ct sidings, were finished during
ahe past year. On the intermediate por-
) tom of the line, between 81 borough of
1 Warren and Whetham station, distance
of one hundred and forty miles, ninety five
and half miles are graded, leaving but
forty four and half miles yet to be
graded, to place the whole Of the an6n-
ished portion of the road in a position to
, receive the superstructure. If no unto
ward event shall delay its vigorous pros
/, ecHtioR, another year viii not pass be-
. forn tho entira limo of fha road will ho