The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1870-03-01

Gov, MORTOMS SPEECH
IATriNDiANAPoLla. s
FE1LowEksNs i q y /.
IN repdess to an invie tions from
many fdsads, Sand ns4obet}iehee tony
own wishes, l have returned home to
! meet the Republicans of Indiana in
council, and shall begin what I have to
/ say to night by short review of the
financial condition Of the, State. -
FINANCIAL AFFAIRS OF THE STATE
On the first day of July, 1919, the
debt OF the State, as reported by the
Auditor, stood as follows:
Outstanding bonds not sure nde ed $3.50
under "Butler R;lP'. 81 72s. 0o0 90
under "Buser Bill' 1896 900 90
Two and a hall per cent. stock is ~ - -
sued I'm Ter 'tBHtler BA". d656,2O7 SO
Making total OF the bonded or foreign
oeDt ..-.. SS,044, 207 50
To this should be added the amount of
the do nestle debt October 81 1949. 215,s30 90
Making the entire debt. 259, 1877 SO
On the rstsof January. 1857, at the close
Of Governor Wrights administration, the de-
mestlc debt had been extinguished. and the
bonded or foreign debt was $7.772 ,311. Show
ernor Wright's administrator Of S487 1926 So
Tins amount of reduction in seven years. du>
ling period of general prosperity and pro-
found peace, was very small, but it was much
better than what followed under the admins
tration of Governors Willard end Hammond
at the close Of their administration, January,
1861, as shown by the report Of Auditor John
w. Dodd, the amount of the debt was sIO,>
1872 %, having been increased during the
four years So .4O6 ,965 90. And thus the Re-
publican Administration commenced in Janu-
airy, 1861, with debt Of S 10, lis. 267 O9, as an
Inheritance from the Democratic party. In
orderto raise money te prosecute the war, the
State issued, during the summer of 1851, two
millions Of War Loan bonds, and, during the
summer Congress levied a direct tax OF the
State OF 1904 .S75 81, ~ hch, add ed TO the War
Loan, made an Indebtedness of 50 ,5O4 ,S75 SO,
incurred on account of the war. the national
direct tax was assn med and settled by the Re-
publican, State A administration without suffer-
ing it to be levied upon the people. It will
be seen that thetend Of the fiscal year in 1862
found the State with debt Of S ID .O84 O91 AZ.
old and new. The report Of the Auditor, for
the year 1859. shows the State debt now to be
as folio VS.: saot7 81 a-1a ~ 42
Old Bonds not surrender under -
Butt Biz -.-..--- -. .-..S 195, 600 od
Two and a half per cent. ste cks -. 4,74o Il
war Loan Bonds -. -..-.. 49, 10000 90
Showing an aggregate of foreign bond
ed DEBT oil 81 ,049 $50 46
Bond to the School Fund. 3,5al ,3l6 Is
University Bonds Observation-Disclosures. 1855 90
Making total debt. Foreign an Domes-.a sva
tic .................. ....s5 597 81
Showing the amount of the debt paid off
since the first of Move mber, 1862, to he ST.
428,lo co. The bond to the school fund of
S355l,316 Is. tie State owes to herself, and
is never to be paid, the obligation amounting
to this !: that the State will, semi annually, for
the support of common schools, pay sum
equal to the interest on this bond at the rate of
SIX per cent. per annum but as, in the abb
sence OF this arrangement, the State would
have to raise like amount for the support o
common schools, the indebtedn ess is only nom
inal and not real; 50 that, be whole deb
which the State is now liable to pay amounts
only to 50, 1Oi281 43, for the discharge OF
which am informed that Governor Baker ex-
poets the funds to be in the State Treasury
within the next eighteen months, or by the
first ofJuly, s1S7i. El -1tGe-l4# zs sfz 80
This result of Republican administ ration
within the last nine years is highly gratifying,
and gives assurance for the fidelity and ability
OF, the administration of the Republican party
in the future. - $500. ..--.ss -. - -
What have stated, however does rot in
clude all that has been accomplished in the
last nine years. The Northern Prison Debt
has been paid and the Prison completed ;; the
Hospital for the Insane has been greatly en-
larged and improved; the Soldiers Home, she
Normal School Building, the Building for the
Supreme Court and State offices, and House oil
Refuge have been erected and paid for and APP
propriaticns made: and paid out, or Tor which
the money is in the Treasury, for the State
University, Female Refornratory. and enlarge-
ment for the institute for the Deaf and Dumb
at an aggregate cost of sos, liz 81. e
IF all this does not make the contrast
between the Republican and Democratic
adniinisti atoms sufficiently striking,
many other things might be referred to
and among them the last item Of DEM
ocratic State financiering in investing
S13O, 0G0 of the school fund in gold
gambling house in New York, a part oil
pended cash, the officer, however, re-
fusing to conform to the Democratic
practice of giving his note for the bal
ance wheG he went out. @
Ard as an evidence Of the gene ral
prosperity, patriotism ard devotion Of
| the people ofiIR.iana, as shown by re
ports made to che Adiutant General by
| the various County AUDITORS, it n.Sy be
/ stated that the counties, cities, town
4 ships and towns paid FROM money rails
! ed by self-imposed taxation for the re
| lief of soldiers and soldiers families
| for bounties, and for miscellaneous mil
itary purposes. $40, 25S, GAO, all Of which
has been paid, and nothing is left be
hind but vi eaasmory Of the good deed:
l that were dose. s1ae re- aa
| And it may further be said that, q ur
! ing these nine years. the general man.
] agement of Our iaffaisS in relation Il
education, to the. courts to the s1steu
4 of taxstion anG the general manner o
conducting the ,iaublic business, ka
been vastly improved. Especially ha
the Common School system been eleva
4 ted from its previous unorganized ant
4 imperfect condition, until it is now sec
ond to none outside of New England
and is rapidly growing better from yea
I to year and as an evidence of the in