Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1869-01-14

Felto,O citizens Of The Senate and House
Of Representatives of the State Of
DetaUarc in General assembly met


and welcome you to the State Capital and
halls Of legislation. You have been clothed
by confiding constituency with RESPONSE
bic trust. You are their chosen representa-
tives, to whose fidelity and wisdom is COM
mitted the sacred duty Of maintaining the
credit and sustaining the honor Of the State,
and legislating for the welfare of every class
Of her citizens. Ever mindful of our depend
ence upon the Almighty Ruler of the Uni
verse, we should not fail to recognize the
blessings of His providence, manifested by
unnumbered mercies graciously bestowed.
Peace and prosperity prevail throughout the
commonwealth; health and happiness attend
our people, and abundance rewards their
labor, not only in the field, but in all the
useful avocations of life.
The session upon which YOU are just en-
tering promises to be one ef unusual inter
est. Questions Of great magnitude will de-
mand your attention. You will doubtless
approach their consideration free from pre-
judice and personal bias, and in spirit of
perfect fairness and liberality toward those
whose interests and happiness are to be af-
feuted by your action, but at the same time
with the firm resolve to maintain the dignity
of the State and the supremacy of her laws
with unyielding firmness and unflinching f.
deity. To the Legislature, exclusively, is
confided the law-making power of the State,
and every person within her limits owes i'm
plicit obedience to every law enacted by the
General Assembly, and should he held to
strict accountability for every infraction of,
or disobedience to, tie requirements of any
and every such law until II shall be decla-
red, by competent authority, TO he repug-
nant to the Constitution Of this State, the
Constitution Of the United States, or some
law enacted in conformity Herewith.
In obedience to the provisions Of Section
| of Article of the Constitution of this
State, invoke your deliberate and thought
tul consideration to several subjects which,
in my judgment, intimately concern the best
interests of the people.
The finances of the State, though in no less
prosperous condition than at the last meet
ing of the General Assembly, demand i'm
| mediate attention, and are too intimately
connected with the credit and honor of the
| State, and the prosperity and happiness OF
our people, 10 be lightly considered or to
have their consider alton deferred Tor that OF
| more unimportant subjects.
The Indebtedness of the State is made up
of bonds issued at different times under and
by authority and direction of the Legislature.
l i uC DOuus lcSutu uiiucT luC DIOflslOnb VI
| the acts of eighteen hundred and sixty-foul
and eighteen hundred and sixty-tivc may
justly be considered as constituting, and
in fact do constitute, so far as the ultimate
liability of the State is concerned, the entire
| debt of the State. These bonds were dated
January the first, 1865, and amount, in tht
| aggregate, TO the sum of one million ont
hundred and ten thousand dollars. There
are also bonds of the State outstanding,
loaned to the Delaware Railroad Company
under provisions of an act of the Genera
Assembly, entitled, can act concerning
the Delaware Railroad" passed at Dover
February the 2Sth, 1856, amounting tt
the sum of one hundred and seventy thou
sand dollars; and also bonds loaned to th,
Junction and Breakwater Railroad Compa
ny under and by virtue of the provisions o
an act of the Legislature passed at Dover
March 18th, 1865, amounting to the sum o
one hundred and seventy six thousand dol
lars. These last mentioned bonds were is
sued by the State to aid the companies Il
which they were loaned in the construction
and completion of their works of interna
improvement, and are known as Interna
Improvement Bonds" Their payment il
amply secured by mortgages on the road
of the respective companies But If thu
aggregate amounts Of these Internal I'm
4 DIONtuitut DDuub DC uuueu ~ tilC dinOuu
of the bonds issued /" for the relief of per
sons subject to military duty" and "to re
lieve the people of this State from draft,
we have an aggregate of State Indebtedness
real and apparent, of one million four hun
drsd and tifty-six thousand dollars.
The Investments of the State consist of
Shares Of stock in the Farmers
Bank to the amount of $3U5, 700 O
Shares of stock in the National
Bank of Delaware to the amount
of II, 100 0
Shares of stock in Bank of Smyr-
ma to the amount of $500 0
Shares Of stock in Union National
Bank to the amount of $3.50 O
Loan to the New Castle and
Frenchtown Turnpike and
Railroad Company of $4,000 0
Loan to the Philadelphia, Will
mington and Baltimore Rail
road Company of $1,000 0
And loan to Sussex county of 5000
To which may be added the loan
, of the State to the Delaware
Railroad Company of 0,0G0
And the loan of the State to the
Junction and Brcakwatcr Rail-
road Company, of which bonds
have already been issued and
delivered to the president of
said company, amounting to 10000
The two aforementioned loans consist {
5 bonds of the State for like amounts, deivere
to the railroad companies, the payment {
!, which Is secured as before stated. 1t wi
be seen, therefore, that the Investments {
the State, real and apparent, amount, In th
! aggregate, to the sum of eight hundred an
{ fifty thousand one hundred and fifty dollar
, which, being deducted from the real an
| ~ MT in ta1n pf TIM State IN
ing to the sum of one million four hundre
= and titty-six thousand dollars, leaves
h balance against the State over and aboy
:, her investments of six hundred and fl,
thousand eight hundred and fifty dollars.
The income derived from the inveslmcn
{ Of the State has, by existing laws been al
& propriated in part for the support of IL
4 State government and in part for the pu
poses of education. The portion of incom
: appropriated to educational purposes is d.
: rived from the items of the States inves
o ments known as the School Fund, and col
4 sist of
a 254 shares OF stock of the Union
National Bank at ss25 per share,
amounting to sum of $6,350 {
g 240 shares in Farmers Bank at
r Georgetown, at $50 per share $4,000 {
i, 295 shares in Farmers Bank, at
New Castle, at $50 l4,75O
1904 shares in Farmers Bank, at
q Dover, at $50 95,2oO {
n 5000 shares in Farmers Bank, at
:, Dover, at $3G per share,
amounting to lsO, 900 ,
: ia shares in Bank of Smyrna, at
: $50 per share 5,7OOt
J. 81 shares in National Bank of
Delaware, at 5000 per share 7,4O0 {
V Loan to New Castle and French
n town Turnpike and Railroad
c Company of $4,000
Loan to Philadelphia, Wilmington
> and Baltimore Railroad Com
:, pany Of $1,000
/ And loan TO Sussex county OF 5000 {
4 Aggregate, 1896, 400
:, The Treasurer of the State, according to
y report submitted by him and now on file
this department, received from August Is
|. 1867, to August lst, 1868, as applicable
r the support Of free schools, the sum of thi
!. ty-six thousand eight hundred and sixt,
10 seven dollars, of which nine thousand an
/ sixteen dollars and fifty cents were receive
1t from license, &c
10 The State Treasurer also received, ,accor,
. ing to his statement furnished for the info