The Somerset reporter., 1895-01-03
FOR ANOTHER TERM.
Officials of the State Government Are
Indicted Into Office.

Governor Cleaves' Address.
Gentlemen of the Senate and House of Repre-
sentatves
By the stuff RACES of the people, the legislative
authority of the state has been committed to
your care. That the power will be wisely
exercised, in the interest f good and progress
siye government is the confident expectation
of those who have conferred on you these n.
p'rtant responsibilities
State Finances
The financial condition of the State as shown
by the excellent rcport of the State Treasurer.is
most gratifying. The receipts from all sources
for the ycaEendng December 81, 1898, including
the balance in the treasury January l. ls9j,
We're 50 lG9,5 $50. The disbursements during
] that time w re s. ,s33,NSi.7l. The receipts for
the year ending December 81, lsa1 including
the balance in the treasury January /. ISL.
/ were SlSSi, 6sN.Ol. Tho disbursements during
| the year We're 81 ,52S, 1913 10. There was bal.
ancc in the treasury on the first day q
January, 1888, of sos 1895.
Without special reference at this time to our
financial history and the yalor and patriotism
] of cur people during the war for the preserva
ton IF the Union Sni the years that closely
followed, it VIII be observed that the ne.
indebtedness on the thirty first day Of
. December, 1874, after deducting the amount
. III inc SINKING 1unti was SO,DfO,Sib, nearly
all of which was incurred for war pur
poses and which amount the an
-nual interest charge was 1884 ,252. During thu
following twenty years there was Paid Oh t'sis
debt $3,l6i $40 reducing the bonded indebted
moss of IN state, on the thirty first day of ID,
cember, 1891, t. 50, 4030b), and reducing the al
nual interest charge from Sj3l?51 in IL. L.
less thru $4,000 at the present time Tn nX
cellcnt financial history m1r.es the ltc Q .ane.
aud wisdom of our people an their + pre-
i stntativos,
TIL ont ,talding bonds of the State. bsarin.
interest ut per crntun, cpm'nln1 preni,tG4a
Our cities and towns, in making the Il
porary and permanent loans, are negotiating
their securities on II per cen tum basis, and il
many instances for less The bonds OF the Stat,
! and Of her municipalities are among tn
choicest investments, and are in quick de
maud, not only by our own people, hu.
throughout the financial centnrs of New Eng-
/ land and the middle states. The high financial
| credit of our State and of h II various munich
palities rests upon IA permanent basis, and will
be secure in the future under the operation of
existing constitutional provisions, limiting l.
obligations to he incurred by the State Al
plac ny restraint upon the power of ON
mum ciralitlcs to create an indentenos b
You'd the limit expressed in the constitution
/ 1t is undisputcd that these judicious constitu
| tional safeguards are the urd rlying forces
that give us our great financial strength ana
,hat tti ~ ~ wv '''s'
temporary Loan.
Ihtre was oUVstandlng against the State :.
the hrst Gay of January lSE', IL temporary lof'
of $000O0 that had existed for Soy, raj years.
rms loan hld reached the CONSTITUTIONAL limit
OF the power OF the legislature TO Great mGebt
eaneSs' except Tor suppresslhg lhsurrect o.
repclhhg INVASION or Tor purposes OF war. Not
only our nhahclal creolt, but safe AMI con
SENTATIVE monetary policy for the future re-
CURED that TINS loan should be paid, and pad
from our receipts without increasing STATE
| taxation. ms imperative necessity WIS upon
us, al q some deserving measures, requiring
Appropriations OF money at the last session oil
the LeglSia'ure'w compelled to yield to this
demand
/ am piet-e TO state TO you ana the people,
,ha' during TN" past tWn years the entire
temporary loan oil %RJ'o)O has been pad from
the receipts OF th' treasury. In addition Ia
thi9' Fi"'''" ma p''h l't''u from inc treasury
fins reducin,. thn stnt,. ,,rbt durinr tbn ,a.,.s
| 1sq2 and Isoi y a ana md o,,. i,,5..t L..
NOT loss tb,n a. nDo "a, +bo FIT l,,. -; -
nary l1l5 "a. brf,ro = a ed tle unavnand II
| balance in th, treasury N,ul SIX 1q5 -. more
than sufficient tn moot an onr nntst,n Jin,.3,,
rent liabilities
CT. r.,
nv
, ne . ~, LAX toI 'he year 1913 was two ana
,n, i'''i 'i "'ii7 on " no l"'' i',' ~ ioi
io'i was VI Il "'9i1 Oh Two ana ohe-hall M
hi'Nii'7 'u''''!pn IN 'h' nt't' TAX Tor -
pa" v"' y, t,'r'i, FROM IL c"'iui eN't3i :
won 'i'i Ni' '''' thero VIII ne Solhe f'tiieti'
IN or rcoo'P', 'he present year from th' var