Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-10-22
NUMBER II.
The Governors Message.
Gentismen cfthe Senate aai House Of Rep
rekeDfafires

The Governors Message.
Gentismen ofhe Senate ani House Of Rep
reSentGtiues
Having been elected to the Office Of Chief Mag
istrate OF this State, with a most earnest appre-
citation Of the great responsibility which the
action Of the people has imposed upon me, | have
met with you, as required by the Constitution,
to give to you such information and assistance
as may be in my power, and be required by you
10 enable you faithfully to guard the interests Of
the Commonwealth, provide for the support of
its government, and consider and decide upon
such alterations and Improvements, as you may
deem necessary, Of its laws and its policy
trusting that in the performance OF my duties
may enjoy your confidence, and, if need be, have
the benefit o. your kind forbearance; but above
all, that we may each be gifted with that wis
dom which cometh only from God, without
whose approval and assistance States, well as
individuals, are powerless for good, and whose
acknowledgment and worship have been made
by our fathers the corner stone Of our Republic.
During the past year peace has prevailed
throughout the land, contrasting most beauti-
fully and significantly with the stormy excite
ment Of the years Of warfare for our National
existence. through which we have so recently
passed. The earth has yielded bountiful crops
to its cultivators. No generGl epidemic, or dis
ease, has prevailed within our borders. And
business Of all kinds has progressed without
serious reverse, or financial disaster. For all
which grateful thanks are due and should be rev
erently returned to the Divine Providence, from
whence all blessings Aow.
FINANCES
The details Of the present financial condition Of
the State, and Of the receipts and disbursements
for the year. are shown by the Reports Of the
Treasurer and Of the Auditor Of Accounts which
will be laid before you. The result may be briefly
stated
The total funded debt Of the State at the pres
ent time, is one million seyenty-ive thousand
dollars, Isl ,O75, 600, 90, which sIm, how
ever includes twenty-seven thousand five hun
dred dollars, (S27 100000 Of bonds due in
1876 and 1873. which have been purchased hy
the Treasurer and have not been cancelled, but
are held by him with a view Of exchanging them
if found expeiient, for bonds due in ISL. The
excess Of current liabilities over current re-
sources. is tweuty-one thousand one hundred
and eight dollars and forty-eght cents, (S2l,-
lOS,4o). The present apparent total liability Of
the State is therefore one million ninety-six
thousand one hundred and eight dollars AMI
forty-eight cents, 81 ,O96, los, As. But against
this is 10 be offset the present amount Of the
sinking fund, which is seventy-fve thousand SIX
hundred and ninety-tour dollars and two cents,
(-7j,5t4 o. and tWenty-seven thousand i've
hundred dollars, 81 10000 Of bonds held by
the Treasurer as before stated mixing the net
liability not provided for, nine hundred and
ninety-two thousand nine hundred and fourteen
dollars and forry-six cents, (=932, ,9l4, ,46). For
all purposes except that Of exchange, these
bonds held by the Treasurer may be treated a.
paid, in determining the present financial con-
dti0n Of the State.
At the commencement Of the year the fund
ed debt was one million two hundred snd
twenty-seven Thousand dollars, e ,-27 ,O0OOO)
The excess Of current resources over current
liabilities was seventeen thousand four hundred
and ave dollars and f1rty-nine cents, (Sl7, ,405.
4g) Leaving the net Liabilities at that time one
million two hundred and nine thousand five
hundred and ninety four d1llars and fifty-0ne
cents, tSl 20. .j545l.) But the amount Of the
sink NJ fund then on hand, which was hfty-nine
thousand SIX hundred and thirty-seven dollars
and seventy-oue cents, (-Js, ,ta1-ll,l was ap-
piicahle in reduction Of that um,-ieayiug the
net liabilities Of the State not then provided for
one million one hundred and forty-nine th0us-
and nine hundred and ffty-slx doliars and eighty
cents, 81 IA, ,55i-s0)
The funded debt has been reduced during the
wear one hundred and seveuty-nine thousand
five hundred dollars, (Sl79,j ,j00G0,l which
sum includes the bonds purchased, but no; can
celled and the net reduction OF the total liability
# the State during the year. treating those bonds
as paid, has been one hundred ami hfty-seyen
thousand f1rty-two dollars and thirty four cents,
lSIj7,042 SD
At the close Of the war in lo65 the funded
debt was one million six hundred and hity thou
sand dollars, (Sl650, ,OO0.0 land the total labii-
ties Of the State were one million eight hundred
,ui thirty-iour thousand one hundred an1 sixty
three dollars and niuety-six cents, (SLs3Ll63.
SOD During the four years which have elaosed
since that time the funded deb, has been reigcei
* hundred ani two thousand five hunirei dol
lars. S6U2, ,50O0JJ and the total liabilities not
provided for, have been reduced eight hundred
and forty one thousand two hundred and fifty
nine dollars and fifty cents, (Ss4l ,25+.50}
The bonds Of the safe 10 the amount Of four
hundred and eighty thousand dollars. (S4su,-
900 00l tall due June ISL; Of which four
hundred and four thousand three hundred and
ive dollars and ninety eight cents sol ,30j.ss)
remain uuproyiiei for; and provision should be
made for their prompt payment at maturity. As
the Auditor Of Accounts gives no very certain
assurance that any considerable amount will be
received within that time from the General Gov
ernmeut in further payment Of the clam Of the
the necessity Of increasing the present year and
the next year the amount appropriated to the
sinking fund. The amount appropriated for
that purpose in ls6S was one bundrei thousand
dollars, (Sl0O 00O00;) but the amount actually
applied TO that fund from the tax levied in lS6S
has been but sixty thousand dollars $50 600 00.)
And # the excess Of the cnrrent expenses over
the current resources, ,-twenty-one thousand
one hundred snd eight dollars and forty-eight
cents. (S2l. Joss, bad been paid from the
syails of the tax il would have left applicable 80
the sinking fund from that sCurse but thirty
eight thousand eight hundred and ninety-one
dollars and ifIy-tNo cents. (S3S. S.S9l.52.) in
stead Of one hundred thousand dollars (Sl0O.-
600 00,) as was intended This Is due 20 the
fact that the amount required 10 be paid during
the year for the expenses Of the State. allotment
claims, Gains for the State pay due to soldiers
IN the late war. and other matters, other than
payment Of interest on bonds and loans. has
largely exceeded the amount estimated At the
commencement Of the year, upon which esti-
mate the amount Of the tax levied in 1865 was
based
1t IS obvious, that for the purpose of meeting
the current expenses Of the present year. and
such claims against the State as are due and
Outstanding, and making necessary provision for
the redemption Of the bonds due in ISL, a
larger tax must be imposed than was levied in
lS6S.-the necessary amount of which will be
reduced by just so much the aggregate
amount Of the current expenses for the year can
be reduced. 1t becomes, therefore, the peremp-
tory duty, as it undoubtedly will be the pleasure
Of the General Assembly, and OF every officer Of
the State to provide for and practice the strictest
economy in all matters affecting the finances Of
the State.
COMMON SCHOOLS.
| commend to your care the educational inter-
ests Of the Saie,-the common schools, the acad-
emies and colleges. At the foundation Of these
interests is the principle, recognized even pre-
vious to the adoption of the present Constitution
Of the State that the State Is under obligation 10
l. IL.