Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1869-01-13
Annual Message of
GOV. JOHN W. GEARY,
Delivered January 6, 1869.

To the Senate ana Ho"'' - fI:
of fbs Commonwealth Of Psnnsytron1d
GENTLEMEN For the harmony and gen
.rsI relations of comfy and friendship exist
;ng between Pennsylvania and all the other
STATES and Territories of the National Union;
far the present prosperous condition OF the
Commonwealth for the glad signs OF COM
;ng political tranquility; and for the success
which attends the progress OF our free IN
sritutions, we owe heavy debt OF gratitude
m Divine Providence. In view OF the IA
vorable circumstances under which you are
now assembled, it becomes my province and
Su,v. as it is my pleasure, to offer you my
Hearty congratulations, and to tender you
,.orjial welcome to the Legislative Halls OF
tbe State This, indeed, affords me high
:, ratification because l participate with
rouT constituents in the confidence manifest
.J he them in selecting you to represent their
;ndiyidual interests as VIII as those of the
Commonwealth. On your wisdom, integrity,
;ndgment and discretion, all will undoubtedly
rsly for the correct determination OF every
question affecting the largest interests and
srayest responsibilities, and for continu-
sn,e and eveuan increase, of that prosper
irv which has hitherto been SO signally
enjoyed.
II is not without a consciousness of the
great responsibility resting upon me that L
undertake the performance of constitution
al duty, requiring that the Governor shall
from time to time give to the General Assem-
bly information of the state OF the Common
wealth. and recommend to their consideration
such measures as he shall judge expedient
In conformity with this requirement your
attention will be called only to such matters
of public interest as in my judgment deserve
careful consideration and action on your part
during the present session.
FINANCES.
The following is carefully prepared state
ment of the financial condition of the State
for the fiscal year ending Nov. 80, 1868:
The reports of the Auditor General and State
Treasurer show thai the balance in the Treasury,
Nov 80 1867 was S4,66l $50 46; Ordinary re-
csipt. during the fiscal year ending Nov. 80, 1863
s52Isoig IS; DEPRECATED funds in the Treasu-
~ unavailable Sal .032 90; Total in Treasury f.r
6.caI year ending Nov 30, 1863 S.9lS.slS OIL.
Payments, viz: Ordinary expenses during the
fiscal wear ending Nov. 80 1868, s24J4,50 % !;
Loans etc redeemed S4,4l7,463 Ga; Other pay
nsnrs SI2 500 90; Interest Cd loans 81 s79 go 9l
Deprecated funds unavailable Sal, O32 90; To-
tai pa! ments SS.905 4e2 o.
Balance the Treasury, Noyemher 50, 1908,
sl,0I3,4l5 81.
SINKING FUND.
By an act approved April 10, 1868, the
transactions of the Commissioners OF the
Sinking Fund were ordered to be thereafter
reported annually to the 3Oth day OF Novem-
Der. Their last report, therefore, includes
period Of one year and three mouths. :, -.
The following is the ''recapitulation' Of
the operations of the sinking fund, from
September 3, 1867, TO November 80, 1868:
balance in fund. Sept 3. 1867. sl,7S7sl2 Al;
Receipts in fund from Sept g. 1867, to Nov 30,
1865. s3,4IS.s92 81; Total s. l56 sO4 ~.
Paid interest 81 .S0s.0o5 81; Premiums paid as
equivalent for coin $40 90; Loans redeemed
s24l4sl6 81; Total 81 222S7 96.
Balance in fund Nov. 80, 1858, 1884 032 rs.
By the sixth section of the act of May l6,
1861, special tax of one half mill on the
dollar was especially set apart tor the pay
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"
Balance on hand Sept 8, 1857, S3l9.933 IL; The
receipts from said tax and tax gross receipts
from September 3, 1861; to November 80. 1858, a
nOUntt0 S+2S.g79 20; Total S743 9I2 81.
Int. paid in Jan. and July 1868. s169 245 90.
Balance in fund Nov. 80, 1855, s574,667 81.
CONDITION OF BALANCES.
Balance in sinking fund November 30th, 1858,
ss54032 rs; Balance in sinking fund N'vem Der
So, 1855 S5T4s57 81; Total 81 ,50S.T00 l3.
Deduct balance in Treasury, November 30th.
1855 SIOl3,+l5 81.
Balance in favor of sinking fund s4s5 2S4 rs.
REDUCTION OF THE STATE DEBT.
By the report of the Commissioners ofth
Sinking Fund for the year ending September
8, 1867, the loans redeemed amounted to
sl,I9+569 50, and by their report from
Sept 3, 1867, 10 November so, 1868, the
loans nsredeemed amounted to 81, Ala, SIC "a,
making total reduction of the State debt,
IN two years and three months, of four mil
Ion two hundred aud nine thousand three
hundred and eighty-six dollars and fourteen
cents.
Ihe assets remaining in the Sinking Fund
are as follows, viz: Bonds of the Pennsylva-
ma Railroad Company, six million, four
hundred thousand dollars, and bonds of the
Philadelphia and Erie Railroad Company,
Inree million, five hundred thousand dollars.
IEese are non interest bearing bonds and
VII not mature for many years l therefore
recommend to the consideration of the Leg
isia'aTe the proprlety of the passage OF
aF: authorizing the Commissioners of the
SINKING Fund to sell these bonds a; public
sac 10 the highest bidder, and direct the
proceeds to be applied to the liquidation of
the State debt.
S57TU4 40s y =" 49,
UelGet amount redeemed at StateTreasury dur
zoe ns'al year ending Nov. 80, 1868, viz
ss5 Sstt e Leans si354 253 81; q: per cent. Loans
-S''Vvo va' Relief notes cancelled S2I0 90; To-
a. Telaetlon. Ss.4I7 4o3 81.
-oAe debt Dec l, 1858, s33, ,2S6, ,ei6 l3.
Statement showing the condition of the in
SeOted1esS OF the Commonwealth on the first
NIs Ol December, 1868:
la -a9ed debt. viz per cent Loans, S25-3ll,-
-E' , per cent Loans. 81 1871 Sc; ~ per
Loans sii200O 90; Total S33,l72.95l So.
-; -I,etae1 debt viz: Relief notes in circula-
s.'.ti9 V9i Interest certificates outstanding
0...so a. Int certificates unclsimed S4,44S 3S;
TIle TIssle creditors certificates Sf4 81; Total un-
i-5dsd sI,3,ss4 81.
Vts1AI tstAI funded and uufunded S33, ,2s6 s45 Is.
s.,,.J L TIE amount Of the State debt as before
During the last eighteen years there has
T' leu carried upon the accounts of the Au-
No. J,':t GENERAL and State Treasurer, and in
S,sI Si several public statements. deprecated
--ueS unavailable to the amount of forty
ous thousand and thirty two dollars. rec
- the appointment of a joint commit
=! the Legislature. whose duty 1t shall
80 - examine the said deprecated and un-
S1iA9le funds, and dispose of them to the
- advantage of the Treasury or, if found
s.T Ie worthless. to cancel and destroy them,
1lla' Jie accounting officers may be relieved
~ th@ necessity and responsibility of
annually 1 accounting for them.
II tue large cash balance remaining in the
bedisury on the 30th of November, 1867,
r. Uee1 used tor the payment of the twenty
on.se ee million loan and for the liquidation of
Outstanding claims against the State The