New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-01-08
GOVERNORS MESSAGE.
STATE OF NEw-YORK, EXECUTIVE DEPARTMENT
ALBANY, Jan. z, 1868.

with the blessings Of peace and prosperity.
duties of the utmost decacy aud responsibility upon the
legislative department OF the Government Inc , COZ
ing subject Of consideration Intimately connected as IL
S. with our general affairs and engroSsing as 1t should
large measure Of public attention.
the report OF the Controller which commend TO care
% S sd%s II the de6f Of the state seember 80 1857
after deduetng the balance Of sinking funds unapphed
There is a natural and just solcitudc as to the ability
regard to the continued with which taxation has so
far been borne aprehended IN some quarters taI
there financial trials impending which Will prove ar
than any in the past 1t seems to me that
there is Ouly required prudent economy III all matters
pertaining 10 the administration OF Government ana a
thorough revision OF the whole tax and assessment
system TO yindcate reasonable expectation OF our con-
tnued prosperity Our wealth and our resources are so
vast that reasoning founded upon our past eonacI
applicable now Material wealth every form has I'M
Inensely increased This is conspicuousy true OF New
seen that the York CITY banks in November 1860 as
represented by their conducted business OF one
hundred and Twenty-Five millions OF dollars ana at the
TWO hundred and forty eight millions Of dollars or more
than double the business of 1890 Hardly less significant
if not in great ratio is the advance IN most de
parmcnts Ofbusncss and enterprise as VIII be FOUND ny
reference to the tables of commerce and tunnage ral
road and insurance capital, mercantile, manufacturing
and mechanical empoyments ana the value Oh real ana
The amount TO person of tax for 1866 paid to
the General Government upon an approximate estimate
duties, S 49, making a of s19 95. Placing pOpu
laton at f3nr millions 1t would amount 20 Inc SUN b %.
aggregate of State county town, and city taxes can
hardly exceed this sum by millions of dollars. II the
of taxable property the true index
of its real value the burdens Imposed might be regarded
with great uneasiness If not with just alarm But no
such dqutude has been felt at the ceners of business
real property has maintained its prices, manufacturers
have prospeed, and trade has been reI9uneTatNe Ac
cOrdng TO the OF 1865 In an area OF 2S22 acres
are improved and value Of the farms is placed at
anne SE Twenty three hundred and VoHe
dolarsan increase Of thirteen mountaineering per cent
IN five years; and the valuation OF farm stock agrcu
factues swels the amount TO twenty four hundred and
seventythree millions three hundred ana nmetyagat
thousand, five hundred and fortynine dollars. rms
enumeration does not include the amount invested S
other items OF personal property II is probable, now
think is safe to that the aggregate valuation
Of the whole real and personal properly OF the state vi"
against sixteen hundred and sixtyour millions one
hundred and seven thousand seven hundred anu ISen
which their equalization was based. Upon tins state
and local taxes taxes would be less than per cent
May we not take another of the and inquire
productive Class are able from the annual Pros Of labor
R Rd S 10 Of doar axnon The
OF our population according TO the census Oh $500, re-
ales aud males under twenty-five and over sixty years
of producers have left 742G6 persons IL
burden Of taxation that the average paid by each
about one hundred and fifty dollars, full one-haIf OF
1T IS understood that large number OF these seven hund
red and fOrtywo thousand one hundred and slxtyslX
persons from their wealth pay many times one hundred
and fifty dollars follows that the remainder pay less
knowledge OF the true value OF the property each ana al
possess, would be indeed light 1t Will be borne IN lnnd
from the extnguishment Of debt and the increase OF
population and wealth.
II is error however to suppose that females and
minors contribute nothing to our practical resources
that az invested capital is productive to the community
well to the party making the investment. and that
very large proportion OF the wealth of the state is
owned by females by minors, and by citizens who have
passed the limit OF three score years These though not
for the most part active aboers through the invest
ment OF their property IN the various departments OF cor
panies banking and manufacturing and all other similar
corporations, awaiting themselves constantly of the
agency Of others 10 advance general interests and
prosperity and augment the wealth Of the state They
property thus invested sharing the burdens com
laws
The conveyance Of vast interests in York as the
great commercial and financial center OF the nations our
extensive operations delicate as they are important ana
tle large share we are called upon 10 eonrDuie 10 te
support Of the General Government seem TO JUSTIFY more
extended discussion.
able to discuss, or important to settle the question
whether the Rebellion could have been suppressed with
none will doubt that could have been But the public
and its great burdens we may yet CON
atuate ourselves that they Tar short OF the aVered
depore the disasters of the struggle, may also
oce in its eompensations Among these may o be Ionnd
pies development of the patriotic endurance o. our
people and the assurance 1t brings Oh the staDy OF our
debt created in maintaining the perpetuy Of our
Government and in defense of Invaluable rights Is one
which all honest men VIII agree must be paid III y one
for the payment OF which we have ali pledged our rain
II our interest to it, 1t Is essential to the
preservation Of public credit no less than 70 te
maintenance Of personal State and our National
honor There is hardly man, woman, child that has
not an interest in public securities Tnere are three
hundred and ninety millions IN legal tenders ana rae
tional currency and nearly three hundred millions OF
bank notes secured by Government bonds. There are
sixteen hundred National banks with four hundred and
nineteen millions OF capital, and hye hundred ana Sixty
millions on deposit, with their oIcers ana
There also, State banks, INDIVIDUAL
bankers, trust me- hre, ana marine INSURANCE voi
and 10 this add the sayings banks, whose aggfe-
Hundred and thirty-One millions OF dollars with over i've
hundred sand depOsOrs All these institutions not
only have directly or less Of Government securities
all THEN debts and liabilities are payable IN the lega
tenders OF the Government Not 10 dwell on inns VAST
securities it is enough to say that IS dent one %
the Government which was saved 10 the people VINO
aved IT, IL iust however, 10 the Government ana he
people alike, that this obligation should pe d
"A shall most conuuce 10 lne IhttIesI
honor OF both the puehc snOna not Dc If the
undue burdens by forcing tue prematuIe pageht VI INC
prncjpal nor should We fail 10 PROVIDE iOr the prompt
payment Of the interest ana such LeuucU oi INC sch
cipal as will not impair our productive energies. 9ucn
forced payment is uncaed for by prudent regau 10 te
public faith the public good ana a. ~ REQUIRES con
inued heavy taxation, may wisely iorDear 10 Apply
such the fOrbeaance ana patience OF le peope
We nave thoroughly educated III inc 1Octno enat
every generation far as possible should pay us own
There are exceptions however. TO this correct rule;
most prominent among them Is the case before US III
which great trials have been endured and great sacrifices
made only protect the present rights OF te pep
ME lint 10 perpetuate the blessings OF good government
ciobed down by the and devastatons OF
formidable war known 10 history LOT th pche
of the coming generations well as for the safety ana
security of Inc present require time for the renewal
OF our Industry repensh our means ana 10 gather
~ vii me honor enough When the not far distant u-
ture from recuperated energies the Durden WIN pe
lighter ilume our history WIN tne uVV VI orc
called upon, therefore by every consideration OF interest
Of evila viii