The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1863-01-09
Governors Message.
Gentlemen of the Senate and House Of
Representatives

Gentlemen Of the Senate and House Of
Representatives
The people of Minnesota may justly con-
gratulate themselves upon the continued
prosperity of this State, during the past
year. notwithstanding the unparalleled
atrocities of the Indian war.
In agriculture, the chief interest of our
people, we have kept up with the progress
of former years, and our wheat and other
cereals are quoted, in the great grain marts
of the country, as superior to like COM
modities of other sections of the North
west.
The extraordinary abundance of our har-
vests has attracted the attention of the
world, to the superior fertility of our soil !:
while every years experience has extended
the ealth-giving reputation of our climate,
and invited multitudes of invalids from dis
tant lands to repair their shattered frames
in our pure and invigorating atmosphere /;
and we now await, with confidence, the sup
preston of the rebellion in the South, for the
restoration of business and the great growth
and prosperity that benifcent Providence
has in store for us.
While the grand thoughts inspired by
the fact that million of armed men are
maintained by the General Government in
active service, with the daily reports Of
battles fought and victories won, of cities
subdued and States conquered, have the
the effect, | fear, to dwarf in the public es-
timation the comparatively small concerns
of young State, trust you, gentlemen,
viii have proper appreciation OF the du-
ties we owe to our Minnesota, and will see
that amid the clangOr Of arms, while we
perform all our duties to the imperilled
{Iovernment Of the nation, that our own
duties to the present and the future OF this
Commonwealth will be so discharged that
when the cloud of war shall have rolled
away and peace again smiles upon us, all
the interests Of the State will have been so
guarded and directed that we shall march
on to the ful6lment of our bright destiny,
without hinderance because of any action
or any omission Of ours.
FINANCIAL CONDITION OF TIE STATE.
The credit OF the State as exhibited i'll
the market value of our bonds, must be
highly gratifying to all who reflect upon
luC OCDlcSSlOH Dut u "" JS.sitS ciilNS
weighed down all our securities.
Our eight per cents. have repeatedly sold
for lO4 to LOS per cent, and the loan au-
thorized by the act of September p. 1862,
was negotiated at rate Of interest, when
the premium paid is considered, of less
than seven per cent.
The items OF our permanent debt are as
follows, viz:
By act of March 18th, 1858, @ Sper cent, $3.50, 900
By act of Sept. q, 1862, O. per cent, 100, 900
Total. 1850 900
The loan of 1862 was contracted solely
for the purpose of meeting expenditures
growing out CT the Indian war; and the
whole amonnt will doubtless be returned to
us shortly, as am informed by the author
tiles of the United States in Washington.
The cash payments on the sales OF school
lands will probably continue to yield from
ffty to one hundred thousand dollars per
annum TIE funds from this source, with
whatever we may receive from the United
States on account of our war expenditures,
might be invested, by the purchase of our
eight per cent. bonds, if they are to be had
at par, or if not, in interest paying stocks
of the United States, so as to accumulate a
fund to meet our eight per cent bonds
when they become due in November, 1867.
IN this way the obligations of the State
will be provided for, certainly, and no part
of the revenue will at any time be idle, and
the temptation will be lessened to direct
them to temporary Or improvident uses.
4 sinking fund commission, to consist of
the Auditor, Treasurer and Attorney Gen
eral might be created with authority to in
vest from time to time, the funds as they
accumulate.
The report of the State Treasurer ex-
hibits the transactions Of the financial year
in most satisfactory light.
The receipts into the treasury from all
sources, were as follows, viz
Taxes for State purposes, Dec. 1, 1861, to
Dec. l. 1862 mills, $133, 600 Il
mills. es,275 81
Sale of School Lands, cash proceeds IL, 2,433 40
Rents Of do do interest, grass, &C.,
Board Of U. S. prisoners in penitentiary I,4OS IS
On account of per cent. fund on sales Of
Balancein Treasury Dec 1st, 1861, 1923 AZ
Making total of 1921 ,os1 Is
The disbursements from December lst
1861, to December lst, 1862, were as fol
lows
Paid Auditors warrants, sis7.5o5 Il
Paid Sec'y of Treasury Of Uuited States
on account of war tax 47O30 II
Balance in treasury December LIST, 1862, 86,555 81
Making a total Of s221, ,os1 IS
The balance belongs to the following
funds, viz:
State Revenue, 1882 40
War tax Of United States, 1926 7G
School Fund, permanent, 12, ,433 40
School Fund, interest account, 5,295 "a
Interest Improvement fund, 94S OF