Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-01-17
8eotoro enquirer.
MESSAGE OF JOHN w. GEARY,
Governor of Pennsylvania,
TO THE LEGISLATURE, JANUARY s, 1868

MESSAGE OF JOHN w. GEARY,
Governor of Pennsylvania,
TO THE LEGISLATURE, JANUARY s, 1868.
To The Senate and House Of Representatives
Of Feansglvama
GENTLEMEN: Before performing the
customary and constitutional duty of trans
mitting to you information of the affairs of
Z the Commonwealth, and recommending such
measures to your consideration as are deem
4 ed necessary and expedient, it affords me
/ great qualification to tender to you my most
/ friendly greetings oD your assembling at the
Seat of Government, and to welcome you
to the council chambers of the State.
! Our grateful acknowledgements are due to
1 the Benefeent Author of all good for the
continued prosperity aud well being which
| every where prevails, for the abundance
which has crowned the labors of the hus-
bandman, for the general health with which
we have been so signally favored, and for
! all the enJoyments OF peace, contentment
/ and happiness within our borders.
| Our country has Just emerged @om the
/ trials and dangers Of an unrighteous rebel
hon and entered upon period of important
| political struggle arising therefrom. Being
/ convened as the representatives of a conf
| ding constituency grave duties and respon-
| slbIltles deyolve upon you to so legisate
/ upon the great and manifold interests COM
mitted to your charge as best to subserve
/ the welfare of the people and advance the
| honor Of the State The fullest confidence
is entertained that your deliberations will
result beneficially and your public duties be
/ faithfully discharged; and on my part, per-
NIT me to give you assurances of jealous CO.
operation in all your labors calculated to
promote the general welfare.
One of the most important duties devolv-
ing upon the Legislature is the considera-
ton of the public finances Such action
! should be. taken for the provision of funds to
detray the current expenses of the Govern
ment, the preservation of the credit of the
Commonwealth, and the speedy extinguish-
ment of the public debt, as circumstances
shall be found to require. These objects
are Of the highest Importance and claim the
first attention of the Representatives of the
people.
FINANCES
The report Of the State Treasurer
shows that the balance in the
Treasury Nov. 80. 1865, was...... S1,TI,033 27
Ordinary receipts during the fiscal
year ending Nov. 80, lS6T......... 5,423, $50 o.
Loan for the REDEMPTION Of the
overdue ebends.................... 49, 600 600 90
DepreciaJsd funds in the Treasury,
unavailable abIe............................ 1872 90
Total in Treasury for fiscal year
ending Nov. 30 1867 ................ 30,205,395 "a
Payments, viz:
Ordinary expenses
during the fiscal
| year ending Nov.
80, lS61............ S4,5S9 6g6 80
| Loans, &C. redeem'd 20,9lSS29 80
| Deprecated funds,
unayailable......... 1892 90
--- 25,54s,55s IS
Balance in Treasury, Nov. 80, 1867, 4,66I, $50 4s
OF which the Treasurer reports as
applicable to the payment Of
over due loans, the sum Of ....... 2,g37,q7S 55
Balance .............,.... ......., I,723,s57 81
Amount Of the State debt on Nov.
30, . S35, ,622 0j2 l6
Funded debt, viz:
per cent. loans, s25,3lIISO 90
per cent. loans. I2,IO4O25 90
A per cent loans l75,000 90
Unfunded debt, viz:
-'t,ii oaiation ton. -. 96,525 90
outstanding -...,. ....... la,os6 50
-'oi unclaimed s oi '....-., ,......,.- 4,4l8 IS
certiscates, -. A67
Total outstanding. $780, ,fO9 II
From which deduct
amt in Treasury
applicable to the
payment Of over
due loans............ 2.939,97s 55
- S4,766,43I %
Amount redeemed during fiscal
year ending Nov. 80, ls57-........ s55, $50 "a
That the operations of the sinking fund
may be clearly understood, the following
'recapitulation' is quoted from the report
Of the Commissioners for the year ending
Sept. 3, 1867;
Balance in sinking fund, Sept. 8,
1857 S2,752s35l "
Receipts in fund for year ending
Sept. 8 lS67......-..........-....... 3,355Sl0 SO
6,IOs 1852 40
Disbursements:
Paid Interest. .....-...s2, 57j,330 55
Loans redeemed ,79l,56s so
Premiums .....-.-...... 255 90
Domestic creditors IS 90
-- 4,STo,25O o5
Balance in fuud...................... l,7379l2 Al
By the 9th section Of the act of May I6,
1861, special tax of one half mill on the
ment of the interest, and redemption of the
loan created by an act of May Is, 1861, en-
titled An Act to create loan and provide
for arming the State
The receipts from said tax and tax
on gross receipts amounts to-. Sass, ,I7s II
Interest paid in February aud
August, 1867 ...,................- 1925 90
Balance on hand................... 3I9,933 II
Public debt Nov. 30 1867 .S34, ,766,43I %
Assets in Treasury, viz:
Bonds of the Penn
sylyania railroad
company ...... 49,. se,5OQ,OGO 90
Bonds Of the Phila-
delphia and Erie
railroad compgny 3,j00,0Q0 on
Interest on bonds Of
the PhiPa & Erie
railroad company 100000 90
Cash in Treasury. I,72S,s5T 81
------- 13,I23,s57 81
Liabilities in Of assets...... 2l,642 573 81
The above assets will be available as fol-
lows:
BY the act Of May I6, 1867, the Penusyl-
vania railroad company are TO pay on the
above bonds, 100000 year until July 81, /
1890, when one million Of the residue shall /
fall due, and one million annually thereaf- |
ter, without interest, until thewhele is paid, /