Delaware Republican. (Wilmington, Del.) 1843-1874, 1866-01-15
Governors Message.

STATE OF DELAWARE, ExEourIvs DEPARTMENT.
January 9Th. 1866.
To the Senate and House OF Representatives oi
tho State ofDelaware, In General Assembly
| met
The financial condition of the State is a
| subject demanding the serious and deliberate
consideration of the General Assembly. Until
the commencement of the late disasteroas
civil war, such thing as State debt was, In
reality, unknown TO our people. The resour-
| ces OF the State had been amply sufficient TO
meet her ordinary expenses, and the policy of
the State, as Evidenced by her legislative ac.
ton, to guard against State Indebtedness,
| seemed to be we'll settled Nor was thls policy
departed from until the happiness, nay. the
very lives of her citizens demanded It, The
various acts OF Congress oonscripting all the
male inhabitants OF the State betwean the ages
OF twenty and forty-hse years, into the militia
~ service OF the Federal Government, aud the
drafts ordered under those acts, rendered
legislative action for the relief of her citizens
subject to draft imperative Under these cir.
cumsiances the Legislature wisely determined
10 extend the credit of the State 10 aid her
citizens in relieving themselves from the ope-
ration OF draft by the proouration of substi-
tuies. For this purpose the STATE Treasurer
was authorized and directed by au ACT OF the
Legislature entitled "An act to relieve the
people OF this State from draft :" passed at Do
ver August l2th, 1864, 10 cansa the honda Of
the State to be made to an amount not exceed
ing one millioD-of dollars, the bonds to be OF
the denomination OF one thousand dollars
each. In obedience to the provisions Of said
act, Loxley R. Jacobs, Rsq., then the Treasurer
OF the state, did caVse the bouds OF the State
to be made He soM at public auction, In the
city OF Wilmington, six hundred snd ffty
bonds OF the denomination Of one thousand
dollars each, amounting 10 the sum OF siI
hundred and fifty thousand dollars; he also
sold through r. R. Robinson h Co. aud McLeAr
4 Son, brokers, one hundred bonds amount
ing to one hundred thousand dollars. Bonds
were also taken by several banks OF the State,
amounting to two hundred and thirty thous.
aud dollars, which, added to the amount OF
the bonds disposed OF as before stated,
amounts to the sum OF nine hundred and eighty
thousand dollars. There has been sold by L.
Tharp, Esq, the present State Treasurer, IN
der the provisions OF similar act of the Leg.
isatnre, passed at Dover, February 18th. 1850,
one hundred and thirty bonds, amounting 10
one hundred and thirty thousand dollars,
which, added TO the before mentioned sum of
nine hundred and eighty thousand dollars;
will amount in whole to the sum of one mil
lion one hundred and ten thousand dollars.
This constitutes the entire Indebtedness Of
the state, axcept one hundred and seventy
thousand dollars, bonda tor which were issned
and loaned TO the Delaware Railroad Company
under the provlsiens Of an OF the General As.
sembly entitled, IAN act concerning the Dsla.
ware Railroad" passed at Dover, February 2s,
1888. As security for this loan, the State has
a mortgage guaranteed by the Philadelphia,
Wilmington and Baltimore Railroad Company.
and also "A Sinking Fund, by the operation of
which the whole number of one hundred and
seven bo nds will be paid before maturity
II will therefore be perceived that the State
can noti for any practical purpose, be consid-
cred, and in TACT Is not, indebted In o sum lar
ger than that before stated, viz; One million
one hundred and ten th ousand dollars. For
the liquidation of this debt the General Assem-.
bly, wisely provided, by acts oontemporaneous
with that which created II. By the first section
Of an act Of the General Assembly, passed at
Dover, October 2T, 1894, entitled, "a supple
ment to an act entitled AN Act 80 raise Teve-
nue. for this State passed at Dover, August
IL, 1894" it is provided as follows "That the
money which from time TO time shall be paid
to the State Treasurer for the uss OF the State.
under tho provisions of the act to which this
is supplement, shall be and the same Ia here
by appropriated to the payment of the inter-
cat and principal OF the bonds of this State,
issued under the provisions of an act Of the
Legislature OF this State entitled, AN Act for
the paymsnt OF the lately created debt of this
STATE, passed at Dover, August LIZ, 1894, and
all act entitled, An act to relieve the people OF
this State from draft passed at Dover, Aug.
II, 1864"
l suggest, as matter worthy the consider
alton of the General Assembly, whether it will
not be proper so to amend tho above quoted
section as to mako it's provisIons apply to the
bonds issued under the provisions OF the act
passed at Dover, February Is, 1868, entitled,
"An Act TO relieve the people Of lhis State
from draft" There was but one hundred and
thirty bouds disposed of under ths proyis-
ions Of this act they were issued and disposed
OF for the same purpose as those OF she prsce-
ding acts, and should be secured by the same
guarantees. In this connection subjoin the
following statement of revenue which has pas
sed into the hands of the State Treasurer. un-
der the provisionss of the act to raise revenue
for this State, before referred to, for the IL
mon his preoe ding the fret of November last.
la wit;
Tax paid by the P. W. & B. Railroad.
DecAmbar laRa NJ 6a2 AZ