The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1874-01-15
GOV. MOVES MESSAGE

In accordance with the COnstitu-
ton you have assem- bled for the pur-
pose of enacting laws to protect sOeie-
" and to promote the best interests
of the State. The people have impos-
ed upon you, as their representatives,
a grave responsibility, and they justly
look to you for wise, judicious and
patriotic legislation in return for their
generous confidence. I trust they will
not be disappointed.
congratulate you that Ohio, during
the past year, has been exempt from
the curses OF war, violence, pestilence
and famine; that our citizens, unmo-
Tested and uninterrupted, in health
and happiness, have been permitted
to pursue the avocstions of civil life,
while the eartE has yielded abundant
harvests, and sll the departments of
business have for the most part pros.
pered. It is to be regretted, however,
that within the last three months, cap.
ital and labor have been embarrassed
and distressed that workmen have
been thrown out of employment, and
that those who have abundant means
are, for the time being, powerless to
help them. It is difficult to account,
satisfactorily, for the widespread f.
nancial trouble which now assaiIs the
whole country. Our agricultural,
manufacturing and mining industries
have been unusually prosperous during
the past twelve months, and the close
of the year has aggregated fair returns
to investments in business enterprises
of every description. Our commerce
is once more assuming importance on
the sea, and our exports are approx
mating more nearly in value to the
imports than at any time since the
late war; and yet we are in the midst
of a financial crisis, approaching al
most to panic. 1t is believed the ex-
PLANTATION Of this state Of things is to
be found in the vicious system of spec
ulation, which, hazardous in its ven
tures and reckless of consequences,
employs capital not its own in ques-
tiOnable and worthless schemes, gam
bles in corners made by the stock job
bers, and seeks its profit in the dis
tress and ruin of honest men. These
gamblers control largely the money
market; they advance or lower the
price Of gold and Of stocks to suit their
own purposes; they do not shrink
from great risks, because they employ
the means Of other men; they have
no dread of debts, because they never
expect to pay them. Ihe whole sys-
tenn of wild speculation on borrowed
capital is pernicious in its effects. 1t
induces dishonesty and promotes ex-
travagant habits. It ought to be dis.
coursged, and as far as possible pro-
hibited. But whatever may be the
cause ofthe present financial pressure,
it is certain that it exists and it is an
important part Of your duty, gentle
men of the General Assembly, by
the strictest economy in all expendi-
lures authorized by you, to relieve, so
far as you may be able, the burdens of
the people.
The following is q brief summary of
the present financial condition of the
State
STATE FINANCES.
On the 18th day Of November, ~,
the public funded debt Of the
rss ssss ssas@pl1ons ssi during the year ''''' 81
IesS q ,sss-...----..---s. s loe@
T0s,, hosn 81 81 isss isss..'-'-...-. i@ al
sSI2,4S4 "
l
Outstanding MOVIE. ISIS. ,2ll, ,O62 10
or the amount outstanding on the
18th of November, 1878, the sum oi
l264, ,2l5 had ceased todraw Interest, the
holders thereof having been notified
surrender their stock for redemp-
ton, so that the interesf-bearing fund
ed debt of the State Is s., 146,8 ,847.
The funded debt Is divided as fol-
lows: ,--5 l.--...----
Foreign Debt, payable in New :,
York City ~
Domestic Debt, payable in Colum- =,
l'oo0 !"
The local Indebtedness of the State
on the 1st day Of September, 1873, was
IS follows.
Net debt Of 8, 5sSSI 2
Net debt OF townships. including
debts created By boards CT edu-
cation, other than for separate :.
| school districts--------..-.-.----- 4Oi solO Il
Net debt Of cities tnrst and sec
ond class l4,ozs ileo z
Net debt OF incorporated villages 75 $50 3
Net debt Of school districts (sPe- -
ctal) AsS4osoos
=
The AMOUNT of re-imbursable debt
therefore, is
s.ata s,zlI,os2 10
ALosal...--.-....-.--s......2 2osoSsslS 81
rl - ~ --aTl