The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-01-07
MESSAGE
OF THE
GOVERNOR OF MARYLAND.
M S. ACE
GENERAL ASSEMBLY,
JANUARY SESSION, 1860.

Gentlemen Of the Senate
| and Of the House of Delegates:
and no weiIome you to the discharge of the high
Assembly, after the long interval which the
mas placed between its sessions The fast increasing non
ulaon OF our STATE the rapid extension and variety
her interests, the development resources and III.
protection and encouragement to enterprises needed fo
progress in her commerce and manufactures in her min
ing and agricultural interests to REQUIRE the
frequent assistance of the Legislature whose attention
, T n M OF our system and position,
san taxed by the needs of local legislation and pr
laws to the postponement and even exclusion Of grea
punhc measures affecting the interests the whole State
Since the adjournment of the last General Assembly
the question of calling Convention to amend or alter
the Constitution of the State was, pursuance Of the
law passed to that effect submitted to the peoDle who
on the 18th day of May, 1858, by majority of 1924
votes, decided against the proprety of that
me votes IN ia99r OF calling such Convention
ballots and showing from the whole number that there
were many citizens who did not think it worth while to
| express an opinion upon so important question
This resolution has, therefore, made more than ever
important the short period prescribed by our fundamen
tai law at long intervals for the grave duties of the law
making power. The experience of the mast renders
economy IN the use of that short term Indispensable.
ana an despatch that is consistent with proper de-
hperaton IN passing laws is made than ever i'm
perave by the acknowledged necessities of the public
| service.
To YOU gentlemen, recently elected by the people fresh
from among them, aware of their needs and representing
their wishes the particular wants of your respective
| stituency are doubtless sufficiently well known But
there other requirements of the State and remedies
neeied to which it my duty call your attention in
pursuance of the obligation imposed upon me by the Con
stuon, to Inform you of the condition of the state
and recommend to your consideration such measures m
may Judge necessary and expedent.'
Foremost in Importance because of its relation TO the
public faith is the condition State finances. and II
is satisfactory to be able to declare State is in
this respect in position that abundantly tesies to
the wisdom of the legislation which has secured such re-
suit and the fahfulness Of the officers who control her
Treasury. "
The report the Comptroller addressed to me Jurine
the recess exhibited the condition of the State on the
Both of September 1885, by which it appeared that the
whole funded debt of the State of that day. was nearly
fifteen millions Of dollars S4 s62 against which
is to be reckoned the four millions the sinking fund
showing the amount which the State now paws interest
to be about eleven millions of dollars
This amount, under the operation of the Sinking Fluid
is constantly diminishing, and every citizen refer
with PRIDE as well satisfaction the certainty thus
shown of the ability of the State, only to regularly
meet her accruing obligations of interest aud her respon
sibtes to the public creditor but of rendering her Sc
curites yearly valuable by the gradual absorption
of them, and their final extnguishmen if we viii only
persist IN the prudent financial policy which has led
these results.
The Sinking Fund was still further increased during
the year ending the 30th of September 1850 to the
aggregate of more than four and half millions "a
91522 and comparison of these with the previous fig
ures showing an increase of $3.50 0145 demonstrates
that few years. continuance will entirely discharge the
Indebtedness of the State That Indebtedness for years
nung IKE heavy burden on the people, whose
them in the hope of developing resources of those re-
gons through which the great works of public improve
ments were to pass well in the intention of making
investments which should be profitable to the State or at
least return to her Treasury the sums drawn thence for
interest to her bondholders.
In this hope, far the great railway which unes
her chief seaport to the West is concerned the conf
dence of her legislators was and is comnletelv Justified
anu her investments in bank stock have been profitable
while the arrangements which settled the
some other works of internal mnrovemente bave t
lar prevented their since becoming burden upon the
Treasury But nearly fifteen millions in amount of the
capital and credits belonging to the State equal to her
whole Indebtedness consists in unproducve and inactive
captarom which there seems to be hope of realizing
anything under the present state of affairs OF this
amount OF fifteen millions of dead capital for which the
stare gets no return, more than fourteen millions repre-
sent the Indebtedness of the Chesapeake and Ohio Canal
Company for stock subscriptions s5 OOOl and for
rears of s14 29 paid by State thereon
to which is to be added two millions of dollars in bonds
Nor does there from the report of the President and
Directors, any prospect of reimbursement the CON
trary there appears from the experience past
certainty that the arrears must accumulate
the original subscription of the five million contnue o
remain worthless the State Under such
If thought the Constitution permitted transfer should
not hesitate recommend sale of that work or Of the
States interest therein since such course has been
adopted with the most satisfactory results in other States
Their experience of such things has neen like our own
tat after those great and important works of public
provemen for the development of State have
been secured, by public aid, the profitable results
ana economical management of them when
it'll governed by those considerations only which control
all other investments for profit and return,
Inc provision of our Constitution that so soon as the
public debt shall be paid off, it shall be the duty Of the
Legislature to cause to be transferred the several
ties and the city of Baltimore stock in the i'm
provement companies equal to the respectively
paid by each toward the erection and completion of said
works and the inhibition upon any further State sub.
scrptons to any other internal Improvement companies
while it, in my opinion, forbids meantime the sale or
transfer Of any stock then land now held by the State
in any of the then internal Improvement comnonies
"oud not SO Tar as can learn prevent the General As
semby from making the Canal more available to tLe
Treasury by lease for a term of wears or Inv sna tnr
arrangement with some responsible parties under
legal safeguards, by which that great work MIGHT he
rendered at least not useless or Improbable.
we have had lessons sufficient us the folly of
emparRng IN enterprises which hold inducement
Oh return even we were not restrained by the Cons
utona inhibition that "the credit of the State shall not
ne given or loaned IN any manner to or in aid of any in
divdua association corpor on nor shall the Gene
raj Assembly have the power any mode to involve
the State in the construction of works of internal i'm
provement or in any enterprise which shall involve the
faith credit of the State or make any appropraions
therefor"
The States active and productive capital and credits
amount to more than eight millions of dollars OF this
sum nearly four hundred and seventy thousand dollars
S46S 40666 consists of stocks various banks upon
which the annual dividends have amounted to nearly
thirty eight thousand dollars eight per centum annual
return. Three millions of dollars in the shape of pre
ferred stock in the Baltimore and Ohio Railroad Company
upon which six per cent is assured meeting the vesri
Indebtedness of the State therefor five hundred and y
thousand dollars stock of the Washington Branch Of
nat Road pays from nine to ten per centum; while the
six hundred and eighty five thousand six hundred dollars
invested in the stock of the Ohio Road have under the u
dicious economy of the present management yielded
regular and promises constant return the Treasury
If to these add the payments by that Company
for onefth of the receipts from passengers over the
Washington Branch, about $4,000 nearly we shall find
that of all investments the State has made none have
been more profitable in the return of money than
the sums subscribed and advanced for that
prise without which should have share the trade
or travel of the great West The management of
corporation its rates of freight, it's tolls indeed ali its
pocy are highly important to the State for civil as well
as financial reasons and it gratifying the results
set forth in the late report of the Board which presents
decreased working expenses full maintenance of its roll
ing power, and diminished number of accidents as the
consequences of more complete system of reform al
though inaugurated at period of low rates of
tation, and essened commercial movement From the
promised increase of trade the Inducements and ad
vantages offered, and from perseverance, in proper
he nd ob;I
its present management the most favorable results NAV
be confidently anticipated
The total receipts into the Treasury the year ending
on the both September last, were one million hun,
dred thousand five hundred and fifty two dollars and
seventyseven cents while the whole isburse
ments Tort same period was one million hundred
and twenty nine thousand three hundred and sixtynne
dollars and sixty-two cents
The near coincidence of these amounts while they
should prevent any other than necessary appropriations
indispensable for the pubc.service also against
any immature reduction Of the direct tax After years
OF heavy impost cheerfuy borne respond to engage
ments and uphold the plighed faith of the State wise
economy in the Legislature the gradual increasa of
wealth in the State, the development of her resources
and the activity of her citizens enabled the General As
sembly OF 1896 to reduce the directtax onehd It is
now but one-tenh OF one per cent impost that is
hardly felt and upon basis of taxation which, (except
in the city of Baltimore, where assessment has
Just been completely conessedy does represent the
increased values of land of all other propery
In view, therefore, of the needs of various public ns
utons the necessities of some OF which, the Peni
tehary Tor the suppression of crime and of the Hospital
for the protection of the insane the most pressing
caracer ana winch can no longer be postponed
discredt and dishonor. do at liberty to recon
mend reduction of light State tax as that which
now weighs upon no interest unduy.
When had the honor of addressing the General Assem-
bly, on assuming the duties of my place, called their at
tenton to the provisions ofour penal code insufficient
cy of the punishment awarded to offences the abo
lutte impunty secured to MANY; its unjust indscr
ting severity against others, its inadequacy the ur
gent necessity for reform in this matter respectfully
renew those suggestions to you and earnestly call upon
YOU to make such changes and reforms, shall you
the righfu judges, upon inquiry, expedent to be
made in the Act Of 1909, and its various supplements
The report of the Commissioners to codify the Statutes
OF Maryland now about to be laid before YOU offers a
suitable opportunity for and invites the Introduction of
those changes, which indispensable to make our
laws compot with the requirements of this present day.
with the progress society has made enactment
with the demands of humanity and mercy looking to the
cure and prevention OF crime well Justice in the
punishment of the criminal
see why there should not be shorter terms
OF service in the penentary than two years eighteen
months the minimum now allowed by law; at least as
long as we have no House of Correction the offences of
lighter grade And fail to perceive the necessity or the
roprlety OF that enactment which prevents in all cases
the discharge of convcs between the of October
and April.
The design and intention of this course humane
was that the necessities of the Indictment