Litchfield enquirer., 1869-05-13
GOVERNORS MESSAGE.

:" GOVERNORS MESSAGE.
 M,'. President and Gentlenaan of tae Generdl l. Assembly - s-s a.e<"
 The people of the s5ats $ s fh their isaslasive aahhH executive affairs for the e lsuing year, let us assume these responsibilities, seek ing Divine aid that we may discharge our duties i'll manner to best promote their interests. After long and finally victori- ous struggle to preserve the integrity of the nation, in which our State bore an honorable part, we have had several years of peace, during which, our social and in dustrial relations have been gradually as- suming their normal conditions. Tie past year has been one of marked prosperity with us, both IS State and Nation. A new National Administration has come in ! to power which promises the best results. Most of the States lately in rebellion have been reconstructed, and, under the ener- getic and patriotic leadership of our new 1 ly chosen President, to whom we already owe so much. the others without doubt soon will be. Loyal sentiments and ac- | tions will soon be, not only tolerated, but held in the highest respect throughout our entire country. Free Labor, Free Schools, and Impartial Suffrage, cannot fail soon to place the Southern States where they should have been long sinca, as much dis I tinguished for their patriotism and intelli- gence, as for their productive capacity.
 The financial condition of our State ap- pears from tho report of the Treasurer to be satisfactory and encouraging. At the commencement of the last fiscal year the total funded debt of the State was $9, 705, ,- 400. Deducting from this the amount to cred it of the sinking fund (S1 1862, ,307. .35). the 1 bonds purchased and burned ($124, ,300), the bonds purchased and still on hand ($675, ,600), and the cash on hand ($568, 200 55l, the total liability of the State overand above its cash assets, was, at the end of the last fiscal year, March 3lst, 1869, Six Mill lion. Nine Hundred and Seventy-Four Dollars and Ten Cents, o($6, 974, ,992. l0). against $7, ,324. 236.7l last year. It will be seen from this, that the reduction of the State debt the last year was $349 PA, ,61 against $337, ,340. 85 the previous year. . s6 | In explanation of this reduction, 1t may be stated that the suit brought by the State to test it's right to tax that portion of the deposits of Swings Banks invested in I Government Securities, having been taken to the Supreme Court of the United States and there decided in favor of the State, taxes were collected from the various Banks which had not been previously estimated, to the amount of $144, ,495. 61.- e .r..+-s - favorable decision having been ren-, dered in the case of the State against the Hartford National Bank, which was com menced in 1866, the 1850 shares of it's stock owned by the State, were sold in pur- suance of a law passed in 1865, and with 1 the accumulated dividends. realized the sum of $303, ,44O.44. .at ..s ss ..ss.sl.4..) as
 In the suit of the State against the Phoe- nix National Bank, the Supreme Court of Errors decided in 1867, that the State was entitled to the ratable share of the surplus of that Bank belonging to 1920 shares of its stock. formerly owned by the State in ! addition to the par value of the shares. ',s l The whole value of the stock of the State at the time of the conversion of the Bank into National Institution, with interest, was subsequently ascertained by the Supe- was paid to the State by the Bank during l the past year. =} sAt i5-1@A i"Ta These sales and collections exceeded the estimated value of the Bank Stocks owned by the State at the commencement of the year, by $107, 1886. 28, which. added to the sum collected from the Savings Banks, amount to $252, ,351. .89. As this amount is the accumulated profits of previous years, and is no part of~the receipts of last year, 1t should be deducted from the decrease of the debt during last year, in order to de- termlne the true condition of the finances. By this 1t appears that the actual excess of current receipts over expenditures for the | year was $S6, ,S52 72. 5e}.s o9 ieTs8 za4s5s .sa
 And when we take into account the fact that last year our tax was reducd from three mills to two and one-half, it is an en- couraging state of things, and indicates that the present rapidly increasing wealth of the State will eventually enable us to reduce taxation and the public debt at the same time. .,hss.f,e4 ....s,..s =. f..,.,.s | The grand list of taxable property in the State last October, was $3l2, ,574, ,40S-, be- ing an increase over the previous year of $7, ,827, ,305, or nearly million dollars more than our entire State indebtedness. <ee.,,.
 The entire receipts of the State during the last year were $2. .380. .79O A Of which $757, ,2S6. 10 came from the two and one- half mill tax $432, 199.64 from Savings Banks. S228, ,308. 94, from Railroad Copora- tions, $l26. 400. .Sl from Mutual Insurance Companies, $287, ,O0O from sale of Bank OGOckS, SzO4s S06. 2S from Bank Dividends and the balance from Miscellaneous Sour ces. .s z,
 The total expenditures for the year were $2. .526, ,045. .S1-of this $799, 300 were for the redemption of bonds. $492. 1928 were for in- terest on the public debt, $2O5, 250 for pub lie buildings and institutions, and $117, I l5465 for the maintenance of Soldiers Children.
 The State has claims against the General Government amounting to more than | $2OO. 900, which have heretofore been dis. I allowed. By new rulings in the Treasury Department, it is thought that if properly ] presented our claims will be paid ziies
 Irecommend that authority be given to effect a settlement. is at1ea | According to the Report of the Com missioner of the School Fnnd its capital of $2, ,046. 1O8.87 is unimpaired. Of this amount $209, ,812.61 is in bank stocks SIS, 900 is in Connecticut State bonds, l $27O. 798. 61 is loaned on bond and mort gage in the State of New York, at 2 per cent, and $l, ,440. .807. S9 is loaned mostly in this State on bond and mortgage at 6 per cent. s-..z--
 l The number of children. between the ages of four and sixteen returned on the | t- ~