Holmes County Republican. [volume] (Millersburg, Holmes Co., O. [Ohio]) 1870-1895, 1874-01-08
Governors Message.
To the sixty-arst General Assembly.

Fellow citizens of the General As
sembly:
In accordance with the Constitu-
tion, youc have assembled for the
pnrposeiof enacting laws to protect
society and to promote the best in
terests- of the. State The people
have imposed upon yOn, their rep
resentatives, grave responsibility,
and they justly look to you for wise,
judicious and patriotic legislatiopin
return for their generous confidence.
| trust they will not be disappoin-
ted. .s.--' ,e--s-' =.
/ congratulate you that Ohio, dur.
ing thespast year, has been exempt
from the curse of war, violence, pes.
thence and famine; that our citizens
unmolested and uninterrupted, in
health and happiness, have been per
mitted to persue the avocations oI
civil life, while the earth has yield
ed abundant haryests, ,and all depart
ments of business have for the mos'
part prospered. 1t is to be regret
ted, however. that within the last
three months, capital 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 powerless to help them. 1t is
difficult to account satisfactorily, fol
the wide spread financial trouble
which now assails the whole conn
try. Our agricultural, manufacture
ing and. mining industries have beer
unusually prosperous during tn
past twelve months, and the close O
the year has aggregated fair return.
to investments in business enterpri
ses Of every description. Our com
merce is once more assuming i'm
portance on the sea, and our exports
are approximating more nearly il
value to the imports than at any
time since the late war; and yet We
are in the midst of a financial crisis
approaching almost to panic, 1t L
believed the explanation of this stat'
of things is to be found in the vici
Gus system of speculation, which
hazardous in its ventures and reck
less of consequences, employs capi
tai not its own in questionable ano
worthless schemes, gsmbles in cor
ners made by the stockholders, ant
seeks its profit in the distress ant
ruin of honest men. These gambler!
control largely the money market
they advance or. lover the price o.
gold and of stocks to suit their OWL
purposes; they do not shrink from
great risks, because they employ the
means of other men; they have no
dread Of debts, because they nevel
expect to pay them. The whole sys
tenn of wild speculation on borrowed
capital is pernicious in its influence
and disastrous in its effects. 1t in
duces dishonesty and promots ex
travagant habits. 1t ought to bt
discouraged, and as far as possible
prohibited. 10 ssrnsra-cIt .1ol.
But whatever may be the cause o
the present financial pressure, it il
certain that it exists; and it is ar
important part of your duty, gentle
men of the General Assembly, by
the strictest economy in all expendi
tures authorized by you, to relieve.
SO far as you may be able, the bur
dens of the people. 5d- sofsf1f
The following is a brief summary
of the present financial condition OF
80 STATE FINANCES. .Hu.
On the 18th day of November1ss2, lil a'f
the public funded, debt of the .
The redemptions during the year
Loan Loan Of SflssS issS SASS sss.a4@S IS e. y
Loan Loan Of Oflsss ,Ss, ls'iSo S 90 o.
Total s12,4s4 9
Outstanding, Nov. Is, 1873 s,211.0 II
OF the amount outstanding on the
18th of November, the sum of $64,
215 had ceased to draw interest, the
holders thereof having been notified
to surrender their stock for redemp-
ton, so that the interest-bearing
debt of the State is $S,I47, ,847. !.
The funded debt is divided as fol
lows: ....'...-'.. o..
Foreign debt, payable in New
Domestic debt, payable in Column :
bus Az 1,6d5 Oe
Total ~ f... s. All ,O6e Il
The local Indebtedness of theState
on the first day of September, 1873,
was as follows: -.-- sFl.
Netdebt of counties lUS 3,125, ,53I q
Net debt of townships, includ-
ding debts created by boards --
of education other than for .- 81
separate school districts 40l, $40 is
Net debt sfcitiestirst and Sec
Net debt Of incorporated VII !,
Net debr of school districts ....-.y-.
z Especially "a, ,3S9 n
The amount of re imbursable debt,
therefore, is 4+ L,.u iissFl1g .o
State s s,9l1,062 10 -a
Local D,o33, 1913 81
Irreducible debt 4,070, ,4a0 96
Aggregats debts in the State sss,si4e5s 90
The local Indebtedness in this
statement is reckoned to September
l, 1873, and the State TO November
Is, 1873. s7s, ,7a,.
The balance in the State Treasury ..E .1-
isTa. was 447,sss 81
of 81 ,616, ,149 IS. for the fiscal year
ending November Is, 1873 was i Gs5s,77s &C
Total amount OF funds in the
Treasury for the year 90 $e,st4, ,317 so
The Il disbursements, including v.rF .--.
transfers, during the year have
been ~ 5ll5 -GalSl 5i- 6,ssa,7sl Os
Der IS, 1873 1855 4s
The Auditor OF State estimates the ....
= receiptst, including balance on
hand November IS, 1879, for the vi ul
current year, from all sources at $5,s44, ,024 70
The disbursements at '' l'
Revenue Ses2Zi so ,0SS Is -5 gl.
Asylum 1,S32, 800 50
Sinking p i.0S9,TH 55 i.
School ..-.rrf 500 600 90 4 ....-
National Road 1922 "a
-- tsH p .E --
Total if ..I .nHru.. aA 5,el, ,2aa 50
Leaving estimated balance in
Treasury, Nov. ID, 1874 J s5o2,797 II
The taxes levied IN 1872, colecti-
BILE in 1873, were :a... s5.1
State taxes - 1tuH- t9zHCs 444,557 a5
County and local l....- 1854, ,423 49
Oelinquencies and forfeitures 56l 1892 So