The Van Buren press., 1873-01-21

so much UlSoatieIACliou asu uisS"n'e
being removed, perfect civil and political
freedom and equality will be rsstersd,sn,
tire peace, harmony and COED VIII VIII
prevail, and the necessary werk OF re
construction finally completed. II pos,
sibls this proposed amendment should
be submitted to a popular vote in time 70
enable the general assembly at their
present session to pass suitable laws to
carry the same into practical effect.
In the event Of the adoption and rati1'
cation OF the proposed amendment II
will be necessary to amend the reglstra'
ton act 90 40 to mako 1t conform to the
new features of the organic law In
view of this, | would recommend that
the present registration books be retain
cd as the basis of future rsgislfAtlon,and
preserved among the records OF the 70
spectivs counties. and that tho county
clerks be required to keep the same open
to public inspcs ion, and enter therein
the additional names Of all qualified
electors who may apply for registration
with such ample provisions and penal.
ties as will sfrectually guard agsinstfraud
or imposition,
When we entered upon the late psliti.
cal campaign in the state, we challenged
the support Of the people on shs faith o.
pledges then made, among which are the
following The amendment OF the
school law 80 as to dispense with the oi-
fee of circuit school superintendent; the
adoption Of an amendment to the con-
situ.ion reducing tue number Of supreme
Judges; the consolidation Of the offices
of commissioner Of immigration and
state lands and the commissioner ofpub-
lie works and internal improvements
the submission TO tho people Of the elect
tion Of all officers, state county and town.
ship, not prohibited by the constitution
the exemption of three hundred dollars
from taxation in the case Of each citizen
and the reduction Of the homestead, 'n
q proper constitutional amendment. to
an amount Of real and personal property
consistent with the protection of the un.
fortunate and the safety OF commercial
transactions.
The people having generously given us
their support is the election OF the candl-
dates put forward on the state ticket, VIC
are bound by every obligation OF honor
and good faith to redeem those pledges.
In conducting the affairs Of the admins
tration, ! shall endeaysr, to the utmo
Of my ability, to fulfill to the very letter
every premise then made ! would
therefore, earnestly recommend for your
serious consideration the measures re-
rsrred to; and | here take occasion to
assure you that ! will most heartily co.
operate with you in the enactment OF ali
such measures of reform US will curtai
our expenditures and tighten the bnrder
Of taxation that 10 pressing 80 heavily up
on the people.
The financial condition Of the state will
claim your most earnest attention. Ih'
legislature Of 1868 made provisions fol
funding q supposed pre-eAistlng indebt.
edness of the state, ameunthgto the snn
Of four millions Eve hundred and twenty
thousand dollars "a 500, 900, under cir
cumstanees, l regret TO say, that have
created grave suspicious In tho public
mind that a portion Of the amount al
least, was fraudulently funded. through
the efforts and connivancs Of indi>idu ais
who were prominently connected will
tho transaction. 1t would, therefore, bt
sminently proper that you institute such
proceedings as will lead to q thorsugt
investigation Of the matter, and thereby
strengthen confidence in our financial
system, and bring the guilty parties, il
any there be, to condign punishment.
Under the provisions Of existing laws
the sum Of four millions nine hundred
and fifty thousand dollars (S4,95O,0O0
in bonds have been issued to aid in ths
construction OF railroads, and the furth
er sum Of two millions nine hundred and
ninety six thousand six hundred aud for
ty nine dollars and seventy one csat'
(s2. 900. $40 ~ to aid in the construction
of levees Over one million dollars ol
the last mentioned bonds have already
been retired, and ihsrs 10 no reason to
doubt that the whole amount OF the lsve'
bends will be absorbed and cancelled by
the fund arising from the sale OF the
swamp and overfio wed lsuds Of the state
before or by the time they mature The
bonds issued to railroad companies are
mere contingent liability In distinction
from actual Indebtedness, as the law au
,hsrize their issuance operates as q frs
mortgage on the railroads to which they
have been awarded, thus amply indemni
wing the state against any loss whatever
from this source. In addition 10 ths,wt
find an outstanding floating debt amount
ing to about one million and twsnty.hv'
thousand dollars (Sl 5,000) in th'
form Of auditors warrants and treasur
ers certificates. coming under the gener
al designation OF state scrip, which may
properly be regarded as the only increas
cd iaaaaeotedness Of the state since the re
construction OF her government
The mere amount OF state indebted
ness. when compared with the grsat nns
rapidly increasing resources OF the coun
try, 10 relatively small and insignificant
But when. in connection with the forsge
ing statements. we are confronted by tn
depreciation Of our public securities IL
the msney markets Of the world, II i
manifest that some fatal defect exists il
our financial system or that q suspicion
attaches to the validity Of our sbligs
tions Whatevsr may be the cause y
this depreciation, it becomes your dutl
to investigate the whole subject. and /
possible ascertain where the defect ex
is.s, and whom found, boldly and manfnl