Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1864-01-20
GOVERN oR's MESSAGE.

Fl GEaTLEuEN' The past year has afforded
ns new cause for thankiulness to the Al
mighty for the moral and material bless
ing' which he has bestowed upon Us.
The balance in the Treasury on Noyem
Der 80, 1869. vas $2l72, S44 10; Receipts
Curing fiscal year ending November 80,
1865, $3.50 ,I5l Gj Total in Treasury for
fscal year ending Nov. 80, 1868, 81, 4G2
29j 70 The payments for the same period
have been - 3l3, ,g64 % Balance in the
rlreasury Novembe; 80, 1863, 50, III ,23l 10.
Ine operations Of the Sinking Fund dur
ing the last year have been shown 10y my
Proclamation of the 9Th day Of Seplem-
iber last, as follows: Amount Of debt Of
Commonwealth reduced, S9j4,72O ~ a.
,ioiluws, Coupon loan act, May 4, 1862,
500, 900 90; Five per cent, S19O, l6 50 ;
Four and oHe-half per ceat, S63, GOO 90 /;
Relief notes cancelled, SyB3 90 Domes-
bic creditors certificates, Sl3 90; Interest
certificates paid, 81 90; Total, $9j472O 40,
n Amount 0: Public debt of Pennsylvania
a it stood on the LIST day Of December
lS62, $40, 4iS.2 81 Deduct amount re-
decmed at the State Trcesory during the
.sscul year, ending with Nov 80. 1868, viz
riye per cent stocks, SSSS, 400 IS; Four
and a half per cent stocks, 500 600 90 I;
R,Ier notes, $l09 % Domestic creditors
.sr,.ii,,tes, IS 2G Making 9jl.Gl7 O4
publ,c de5, December lst. 1863, S3G, ,i96-
5o6 Is Funded debt, VIZ: per cen!
loan., $iO0G3O OO Funded debt, viz: D.
ler cent loans, S3j ,7O9 0Sj As; Funded
siebt, viz: y per cent loans, S2GS, 300 %
Total funded debt, $50 ,37S SIC 10. I'm
funded debt, VIZ; Relief notes in circuIa-
tior, SQ7 2jl 90: Interest certificates un-
claimed, $t,443 IS; Domestic creditors
csr,ificates, $72l32 Total unIunded debt,
$ll7,7S0 80; Total funded and ungunded
debt, $50, I96 500 Is; Military loan per
Act of May ljth, 1861, $4,000, 900 %; To-
lil Indebtedness, 1896, ,59G 10.
BY tho act of 18Th May, 1861, author
hing the military loan of S., 100000, a tax
OF one half mill was laid on real and per-
sOnal property, to furnish fund for e.
desmlng the same | recommend that
she commissioners Of the sinking fund be
directed 10 invest the proceeds of the tax
in State loan, so that it may be drawing
interest, 10 be like manner invested, or
that they should apply such proceeds d =
sectly TO the purchase OF ertiticates OF
the military loan. and cancel such certiIi-
calre a, shall be purchased.
4 Although our finances are still in a
teWlhy condition, II is necessary toinvlta
she serious attention of the Legislature to
the confederation of tho means of main
taining them urimpuired in future.
Ry the act Of l2lh June, 1919, it was
oroyidcd that the interest on the State
loans should always be paid in specie or
It's equivalent, and that whenever the
funds in the Treasury should be Of less
value than specie. the difference in value
should be ascertuiued and certified TO the
Goyernor, who should thereupon issue his
warrant to the agents or banks authorized
10 pay such interest on behalf of the Com
nonwealth, to allow such difference to
parties receiving the interest, or at the OPP
lion Of the parties to pay the same in
fpecie.
By the act Of llth April, 1862, it WAS
provided that for tho purpose of paying
ia specie or its equivalent. all interest that
should thereafter be due 10y the Common
wealth, as required by the act of 18th
June, 1910. the several banks who should
avail themselves Of the provisions of that
ac,, lof llth April, 1862 and who should
refuse to redeem their notes in specie, on
.demand, Mt any time within ten days uI-
-On or after the time when such interest
Should become due, should thereafter,
when required 10y lie State Treasurer by
notice in writing pay into the State Treas
ury, in proportion 70 the capital stock
ruid in OF each bau<.their ratable proper.
Hiou of such premium for gold or its
rqgiv.len.. rs shoIll have been actually
pad Iy the State.
By Tue act OF the 30th January, 1868, il
syas provided that the State Treasurer
eboull exchange with the banks AZ
amount Of currency sufficient to pay tht
iuierost on the State debt falling due OF
the hral days OF February and August
1864 for tho saile amNuut Of coin. ant
Should give 20 the banks specie certificate
,of exchange. not transferable, pledgn!
Ghe faith uG the State 10 return said coir
In exchange for notes current at the time
on or before the first Monday of March
lS5i. such certificates TO bear interest n
Ahc rate Of - ser cent. per annum.
Under the pvegisious of the act Of lS6,
CERTAIN banks paid into the State Ireasur!
" w. N' Nv 90 Az tAlNlNaiGuJ iva OOi'i w
the payment Of interest on the public
debt
Under the act Of 1868. specie certif
Gates have been Giyeu to the banks, amount
ing an the whole to 81 ,9jS,9 ,9O4 o., which
with The aoeruing interest, will fall due OF
the frst Monday Of March next
As the provisions Of this act were of
Temporary character, the only acts no,
in force 90 the subject are those of lSl
aud 1862, above mentioned, under whicI
IL will be the duty Of the State authorize
10 paw The interest on the lst February
1864, and thereafter, ia coin or its equivi
lent. and look to the banks that may b
4 liable under the act of 1862 for Reimburse
ment Of the premium paid by the Con
monwealtb.
In the face of all tao difficulties, To
/ Commonwealth, actuated by sentimen
which does its people honor, has hithert
paid its interest ia coin or its equivalent.
Existing circumstances make /. neeessf
ry to consider now the fair extent OF he
Just obligations.
Ine eXi~anc,aR ne tho tinnea have cor