Year: 1869

Felloao. Citizens of the Senate
ant Gentlemen Of the House of
Representations In transmitting
my second annual message to the
General Assembly, il gives me
much pleasure to congratulate you
npon your occupancy of your new
halls of legislation, which contrast
so favorably in appearance and
adaptation to their purpose with
those you recently occupied. May
their lustrious beauty be typical of
the Frightening prosperity Of our
beloved State, Of her unstained
honor, and untarnished credit and
may it witness the purity, the pa
trioti,m and the wisdom of her
councils, until her principles are
as firmly established as tho foun-
dations of this edifice, and peace
and prosperity prevail within their
borders.


THE STATE DEBT.


The following statement exhibits
the Indebtedness and the assets of
the State, October 3lst, 1860 {:
Funded debt of the State six mil
lions one hundred and eighty
three thousand three hundred and
forty.nine dollars and seventeen
cents. The total amount of assets
held by the State on that date was
two million seven hundred and
fifty-fonr thousand six hundred and
sixty dollars; interest falling due
during tho fiscal year of October
30th, 1869, three hundred and
Lightweight thousand six hundred
and ninety.thrce dollars and eighty
six cents. For a full and detailed
statement of the financial condi-
ton of the State, would respect.
fully refer you to the reports of
the Comptroller and Treasurer
The State debt is comparatively
small, amounting in the aggregate
to about six millions one hundred
and eighty.three thousand three
hundred and forty.nine dollars.-
The taxable property, at q low val
nation, will amount to one hun
drcd and ninety millions o: dollars.
During the past fiscal year, at a
season, too, when our capitalists,
merchants, farmers, mechanics,
and others had all their money in.
vested in their various branches of
business, q million of dollars for
taxes was received into The State
Treasury. To more fully illustrate
the ability of cur people to meet
all necessary taxes, We may refer
also to the payment by our citi.
tizens into tho Federal Treasury,
as Internal Revenue, a tax amount.
ing to the sum of S2,622, 800 6S,
making an aggregate of taxes paid
into the State and Federal Treasu.
ries the past year Of over three
and half millions of dollars.


REDUCTION OF TAXES.


I wonld here recommend that
you memorabilia your members OF
Congress to use their efforts for a
reduction of the Internal Revenue
tax collected, to such an amount ss
will meet the liabilities of tho
General Government, but relieve
our people as much as possible OF
the tax collected to pay the Ma.
tional debts. We believe that the
present generation shonld not be
compelled to pay too much of the
debt of great country that is TO
be left by them as a rich inheri.
tance to posterity. The present
tax system was new to our people,
and it could not, perhaps, but be
expected that much dissatisfaction
would be felt in consequence OF
the change. But 1t is gratifying
to be able to state that the taxes
have been paid as promptly as
those of any State in the Union.


When the present State Govern.
ment came into power, we tound
that the Provisional Government
controlling the State from the close
OF tho war, bad contracted many
debts, for the prompt payment OF
which, as well as to meet the cur.
rent expenses OF the State Govern.
ment, it was necessary to provide.
Among the liabilities was a float
ing debt amounting to $477,965..
80. This debt was due to various