The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1874-01-23
GOVERNORS MESSAGE.
To the Legislature:

WCobCih pOIJlOuS. EOIu, Dd
hour, Harper, Ness and Comanch
j. counties have been organized vi
der the general law. A significan
and cheering indication of the fl
ture of the state is found in tn
: gradual extension of settlemen
and the corresponding extensio
Of our frontier limit. The crud
and erroneous ideas which fol
. merly prevailed as to-the adapta
bility of very large properties
ofour soil to profitable cultivation
ideas which took form in tn
early biographies and in the 70
mances of early adventurers-hav
been exploded by the test of &C
tual experiment, and individual
enterprise has so far extended it
operations as efHectually to de
monstrate the capacity OF TIT
state to support with its produc
tions many millions OF inhabitants
The history OF the nation fur
nishes no parallel to the rapiG
growth of our state, whether il
population or in the varied evi
dences Of productive wealth.
Substantial improvements among
the older settlements are not less
noticeable than the multiplication
of new farms and the establish
ment of new communities. To
this cad the enlargement of the
means OF accommodation by
the construction of railways, the
increased and increasing interest
manifested in the cause of popular
education, and the comparative
financial independence, secured by
the increased production, have
largely contributed. The fruits
of the labor devoted to the i'm
provement of fences and farm
houses; to the planting of trees !;
to the erection of excellent school
buildings, and to the numberless
enterprises, general, local, and in
dividual, which tend to the adj
vancement of civilization, arrest
the attention of the observant Wis
itor, and are full of hope to the
thoughtful citizen. Wherein leg
islation may be made effective in
promoting a continuation of such
enterprise it is your duty to legis-
late, as it is the duty of all citl-
zens to encourage it by their in
fiuence and example.
THE FINANCIAL CRISIS.
II the progress of our state has
been remarkably rapid, 1t has
doubtless been somewhat impeded
by the financial crisis which has
so recently prevailed, and from
which we have not yet entirely re
covered. To the precipitation of
this crisis many causes have con-
tributed, the principal among
which, perhaps, are the mania for
Improbable railroad building
upon borrowed capital, and the
absorption of capital, through the
Ubiquitous process of watering
stocks" To such an extent has
the system Of borrowing upon in
adequate or worthless securities
been carried, that American credit
abroad is now utterly Frustrated,
except as regards such undoubted
securities as are beyond the reach
OF material depreciation. To
these causes of disaster - to be
added, in my judgement, the man
ifest tendency of governm ent pol
icy prematurely to hasten the re-
turn of specie payments by undue
contraction of our present circu-
lating medium. The business in
terests of the west demand more
rather than less currency, and it is
to be hoped that Congress will
correct the vicious policy which
has increased, if it has not direct
ly oceasioned the embarrassments
of the country. The monopoly of
the national banks ought to be
summarily disposed of, and free
banking system established.
STATE FINANCES.
The reports of the auditor and
treasurer exhibit the financial con-
dition of the state. Our total IL
abilities are 81, 345, 400G7, and our
resources $576, 1881. OF our
bonded debt, $685., 125 belongs to
the permanent school and sinking
fuAds, and is in the vaults of the
treasury.
The receipts into the treasury
for the general revenue fund dur
ing the past year amount to STA
5000, and the expenses of the
government, as appear by the ex-
hibit of warrants issued by the
auditor, $446,376.76. There has
also been paid out, in the redemp-
ton of warrants outstanding at
the beginning of the last fiscal
year, upward of 100000, leaving
a balance in the treasury belong
ing to this fund of $6,001.S6. For
the first time since the organiza-
ton of the state the year has clos
ed with no warrants outstanding,
and n balance in the treasury.
Since the Goth of January last, our
state warrants have been as good
as the national currency. 1t is
hoped that our financial interests
may be so managed in the future
as to continue this condition of
affairs. To ensure this, it is nee
essary that a due regard for econo-
my should be observed in all pub
lie matters. Extravaganza in pub
lie expenditures should at all
times be avoided, but it is es-
pecially important now, because
of the general depression of bust
ness and the consequent scarcity
of money. Measures providing for
the expenditure of money should
be carefully considered. The ap
preparation bills cannot be too
rigidly scrutinized.
a very small proportion of the
tax which the people are annually
called upon to pay is for state
purposes. Tue levy last year, tc
supply the general revenue fund
was four mills on the dollar. iii
) can be reduced below that figure
: this YEAR,, without detriment t
, the public interest, it should bC
done. t-.H-
The manner in which the fund
! belonging in the treasury hav,
been kept has been q subject o
r much discussion. An examina
5 ton of the reports of the audito
6 and treasurer, and the several re
o ports of the board of state officers
whose duty it is to examine int
q the condition of the treasury, wi
= give you full information upo
this subject.
N THE TAX LAWS.
D The assessment and collectio
y of taxes to meet necessary publ
expenditures should be so regula