Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1869-01-15

GOVERNORS MESSAGE.
To the Senate and House of Re0resalto
tires Of the Commonwealth Of Peqase,l
Uai1ia:
GENTLEu'ES For the harmony
and general relations of comfy and
friendship existing between Pennsyl
vania and all the other States and Ter
ritories of the National Union; for the
present prosperous condition of the
Commonwealth for the glad signs oil
coming political tranquility and fol
the success which attends the progress
of our free institutions, we owe a heavy
debt of gratitude to Divine Providence.
In view of the favorable circunstan-
ces under which you are now assem-
bled, it becomes my province and du-
ty, as it is my pleasure, to offer you my
| hearty congratulations, and TO tender
you a cordial welcome to the Legisla-
tive Halls of the State. This, indeed,
affords me higher qualification because
| participate with your constituents in
the confidence manifested byataefa IN
( selecting you to represent their indi-
vidual interests as well as those Of the
Commonwealth. On yOur wisdom, in
tegrity, judgment and discretion, all
will undoubtedly rely for the correct
determination of every question affect
ing the largest interests and gravest
responsibilities, and for continuance,
/ and even an increase, Of that prosperi-
/ ty which has hitherto been so signally
enjoyed.
/ 1t is not without consciousness of
the great responsibility resting upon
me that l undertake the performance
! of a constitutional duty, requiring that
! the Governor ''shall from time to time
| give to the General Assembly iufUr-
/ nation Of the state of the Common
wealth, and recommend to their con-
4 sideration such measures as he shall
I Judge eXpedient." In conformity
with This requirement your attention
will be called only to such matters of
| public interest as in my judgment de-
serve careful consideration and action
on your part during the present ses-
sion.
FINANCES.
The following is a carefully prepared
statement of the financial condition of
the State for the fiscal year ending
November 80, 1868:
The reports Of the Auditor General
snd State Treasurer show that the
balance in the Treasury, NcTem-
Der 30 1857, was $t861, ,836 10
Ordinary receipts during the fiscal
year ending November 30, 1868 52l6 Bt9 So
Deprecated funds in the Treas
ury, unayailabie 41,o32 90
Total in Treasury for fiscal year
ending Nov 90, 1868 $9,9IS,9lS Oh
Payments, viz:
Ordinary expenses during the fiscal
year ending November 30, 1868 $2,4j4, sos %
Loans &C. redeemed 4,4l7,463 "a
Other payments l2,s 500 90
Interest on loans 1879 500 81
Deprecated funds, unavailable Al ,032 90
s,go5, ,492 81
Balance in Treasury, Nov 80, 1868 Sl,0I3, ,4Ij 81
Sinking fiald.
By an act approved April 10. 1868, /
the transactions of the Commissioners /
of the Sinking Fund were ordered to I
be thereafter reported annually to the /
30th day Of November. Their last re- 4
port, therefore, includes a period of one
year and three months.
The following is the "recapitulG-
tom Of the operations Of the sinking
VemDer ~, 1868
Balance in fund, September 3 1867 81, 757 ,9I2 Il
Receipts in fund from September g.
1857, to November 3d. ls6S 3,4I6,9 ,9g2 81
5I56 g8i ~
Paid interest Fi,5Us,og5 sA
Premiums paid as equivalent for
coin 80 9S
Leans redeemed 2,4H,8l6 64
1871 90
Balance in fund Nov. 80, 1858 S95l,032 76
BY hesixth section of the act Of May
l6, 1861, a special tax Of OHe-half mill
on the dollar was especially set apart
for the payment Of the interest and re-
demptiOn Of the loan created by an act
of May Is, 1861, entitled IAN Act to
create a loan and provide for arming
the State"
Balance on hand September 3, 1857 1919 ,933 II
The receipts from said tax and tax
on gross receipts from September
g. 1857, 10 November 80, 1865.
amount to AZ, ,979 20
Total 7ls.9l2 81
Interest paid in January and July,
1858 l69.2i5 90
Balrnee in fund November 30, 1868 S57f ,667 81
Condition Of Balances.
Balance in sinking fund Nov. 30,
Balance in sinking fund Nov. 30,
1868 574.6s7 81
81, sos 7Oo 10
80, 1858 I,m3,n5 81
Balance in favor Of sinking fund 1896, ,254 70
Reduction Of the State Debt.
BY the report of the Commissioners
of the Sinking Fund for the year end
ing September 3, 1867, the 'loans re-
deemed" amounted to S1,794 $50 50,
and by their report from September 3,
1867, TO November 80, 1868, the ''loans
A
making a total reduction of the State
debt, in two years and three months,
of four million two hundred and nine
thousand three hundred and eighty-six
dollars and fourteen cents.
The assets remaining in the Sinking
Fund are as follow, viz Bonds of the
Pennsylvania Railroad Company, six
million, four hundred thousand dollars,
and bonds of the Philadelphia and Erie
Railroad Company, three million, five
hundred thousand dollars. These are
nOn-interest bearing bonds and will
not mature for many years. l, there
fore, recommend to the consideration
of the Legislature the propriety of the
passage of q law, authorizing the Com
missiOners of the Sinking Fund to sell
these bonds at public sale to the high
est bidder, and direct the proceeds to
be applied to the liquidation of the
State debt.
Public debt outstanding December
l, 1857, S37s s70l, 400 II
Deduct amount redeemed at State
Treasury during fiscal year end
ing November 30, 1858, viz,
per cent loans, S4,a24, 253 81
4t per cent. loans o. ,O0G 90
Relief notes cancelled 2lO 90
4,4l7.463 81