The Howard union. (Glasgow, Mo.) 1865-1866, 1865-11-16

exchanged for seven per cent, bonds OF the
Pacific railroad, guaranteed by the State
for the construction Of the Southwest Branch
of the Pacific railroad.
| herewith transmit a statement Of the
State Treasurer, showing the condition Of
the State Interest Fund. The total amount
Of bonds Of the State loaned to the railroads
including the bonds guaranteed by the State,
is 1923, ,70l 600, on which the accrued and
and unpaid interest up to January, 1866,
will be $6,3l6,O90, the annual interest be.
ing 81 l,3O7,65O.
In my Inaugral Message I made some
suggestions in reference TO this indebted
ness, and committee was appointed by
you to consider the subject during the re-
cess. The restoration of the credit of the
State by providing for the over due interest
on these bonds, without creating an ad.
ditional burden Of taxation, is question Of
the highest Importance as Is also the secu-
ring of resumption of the prompt pay
ment of interest as early as it can be done
with certainty of continued ability to main
tain such payment in the future; and these
considerations may induce me, during the
session, to communicate specially TO you my
views in reference to those questions.
THE WAR DEBT.
The total amount Of Defense Warrants
and Union Military Bonds issued for the
pay Of the Enrolled Missouri Militia fol
services rendered prior to the 10Th of Feb
runry, 1865, including the loan by the
banks to Gov. Gamble to purchase arms
together with interest on said bonds ant
loan TO this date, is $7O46,5 ,575. The ap
preparation made by the act of February
2Olh, 1865, will fall short of the amour
due the Enrolled Missouri Militia for ser
vices up TO that date the sum Of say $500,
COO. There is due the Missouri Militia
called into service at the request Of Maj
Gen. Dodge, commanding the Department
of the Missouri, including expenses atten
ding the enrolling and organization Of th
Militia say $500O00. There is due 70
irregular claims and the Quartermaster'
Department, say $250,0O0.
have caused all the evidences 10 be pre-
pared for again presenting the claim for thi
debt to Congress, and confidently rely o.
the justice Of that body for the reimburse
ment of the State in the sum we have thu
been compelled to expend in defense Of th
flag of the Union.
RAILROADS.
Our railroads occupy the foreground {
the picture which reason and experienc
present OF the coming greatness Of ou
State.
The completion OF the Pacific Railroad t
J. the Western line Of the State, is a subjec
of sincere congra ulation. The business c
this road will exceed the most sunguine ex
pectatons, and though its earnings ar
pledged till 1871 TO pay advances made fu
its completion, we may rest assured OF th
p prompt payment after that date, of acc.uin
z interest on the bonds loaned the road |
: the State The State has been liberal in a:
u sistance to this great enterprise, and Il
: men who have brought it to q successfr
: issue by the use of their time and indivit
ual credit made il a first class road, ar
secured the State beyond peradventure fro
o ultimate liability for any part of the 7,00C
e 900 of bonds loaned 10 it, may well be prot
e of their achievements. But the great
). praise is due the liberal people Of St. Lou
d whose crowning act of pubio.sp spirited ge
= erosity gave the last loan, without which
7 could not now have been completed.
n THE SOUTHWEST BRANCH RAILROAD
/. has, by mere operation Of law, become Il
property of the State. | recommend III
/. provision be made for dispOsing of it
). terms which will secure its completion.
need not urge the Importance of opening
!. highway 10 the Southwestern portion
It our State, for the Thousands of immigran
$ who are looking thther for homes, and VIII
II finding there all they desire in the way
P resources and advantages, would soon,
e their enhancement of the taxable wealth
that region, amply compensate the State Fl
j. oil liability assumed in the construction
J. the road.
:, The liability of the State on account
n this road is $4,5OO,OOO, with overdue i
:; terest, say TO the lst of January neA
e amounting to say $l,35o,O0o. To perm
e this interest to 60 on accumulating at Il
1t rate of $270,000 per annum, while Il
e Southwest remains shut cut from commun
n cation with the centres of trade, is poli'
e for which hope the members of this le
d islarure will not become responsible.
If The building of this road can now be s
J. cured. Before the euterprising capital
o not cnly does there lie the indescribab
,r rich country embraced in thirty counties
Southwest Missouri to be drained of