Morning journal and courier., 1881-01-06
THE GOVERNORS MESSAGE.

To tue Honorable General Assembly of the
 StGte 0f Connecticut
 In accordance with the custom of our Commonwealth you are assembled to repre- sent the people of the State in their highest capacity, that of making laws for their guidance. At the same time you are called to witness the induction into office of the Chief Execu i've Servant of the State, and to receive from him statement of the condition and needs of the public business. In entering upon this place, with which the choice of the electors has honored me, I wish to acknowledge the sense of the responSi- bility and obligation with which its duties are assumed, and to repeat, in my own words, the pledge which I have just made, in the language of the law, for~a conscien- tious and faithful administration of this trust, to the best of my abilities and my light desire only the prosperity and hap piness of the whole people of the State.
 I congratulate you upon the happy auspi- ces under which your session has begun. Our whole land is at peace; we are in the quiet which naturally succeeds stormy po- litical discussion the issues raised have been decisively and clearly settled, and the choice of the nations chief magistrate has been undis puted. With this question have been set at rest the feelings of insecurity and uncertainty in the business world, which the conditions of the late election seemed to excite and with the return of security we may reasonably ex- pect continuance of the material prosperity by which the year just closed has been marked How entirely the people of the State of Connecticut shall share in this pros perity it is within your power as lawmakers to say.
 STATE FINANCES.
 The management of the finances of Con- necticut have always been conservative, and the past year has furnished no exception to this rule By the reports of the Treasurer AhaT fo 1ac 11,Tr,if ko6 it will be seen that the receipts of the State from all sources during the year ending No vember 30, 1880, have been $1 ,654, S24. .23. The total of expenditures for the same time has been $1, ,6oO, ,3s3. 36, leaving balance from the years business of $64, 40 87. These figures are exclusive of the balance carried over from the preceding year.
 The statement rendered by the Treasurer shows a balance of $842, ,146 95 brought from the preceding year, and an increased amount of $906, 82 carried over to the new &C., count. That this may be properly under stood it should be said that the large balances shown are due to the time of the year to which the accounts are made up. It is in the month of October that by far the greater portion of the money received by the State is paid into the treasury. The consequence is that with the present limits of the fiscal year the treasu- ry begins the year with an amount on hand apparently large, but which must suffice for the expenditures of nearly six months. This is not surplus but current funds that will be- needed to meet coming demands. The Gen. eral Assembly therefore does not sit with large reserve at it's hands from which to make large extraordinary appropriations.
 THE STATE DEBT.
 The condition of the State indebtedness re- mains unchanged. The amount of State bonds now outstanding is, as last year, $4,- 967, 500. Of this $3, 936, GOO bear interest at six per cent, and $1, ,031 900 bear interest at five per cent. In two years, that is, January l, 1883, an.. n..outstanding issue of $877, 900 will become due. earnestly commend to you the consideration of means for retiring as large portion of this indebtedness as is possible. It is probable that part of it will be have to be refunded, but it ought to be as small sum as the government, and reasonable taxation. The day when the debts of a State fall due is as sure to come as the day when private debts are payable. In either case the only way in which to meet that day is by saving With the present rate of taxation, and wise and provident economy in the appropriation of public money, at least the beginnings of a sinking fund may be made by this Assembly As compared with the year ending November SC, 1879, there is an increase in the balance carried over on the business of the last twelve months of $64, ,666 O3, of which $225 16 is to cover an increase in the public debt reported last year. But as an offset against this bal ance there remains uncalled for, of the ap- propriations made last year, and to be paid from the civil list funds, the amount of $76,- 459. .32. The last Legislature felt called. by ments, to make unusually large appropria- tions in some directions By this action it has resulted that the actual payments of the year have exceeded the payments, as estim.