Press enter after choosing selection

The Governor's Message

The Governor's Message image
Parent Issue
Public Domain
OCR Text

It was impossible ibr us to publish this lengthy document, without excluding noarly all other matter. We f hall endeavor to condense the substance of it in n small space. Gov. Baiïky thinks that it is vcry important that the entire population should be educated - and to do this, there must be schools, and laws respeciing thetn, and these laws must be known to the people. He recommends that the whole system be revised,and hereafter ultered as little as possible. In 1840, seven branches of ihe Univerjsilywere in operalion, and 247 sludents ; listructed, and $10,188 37 was expended íbr salaries and teacher?. Mr. B. thinks this too much. The University buildings thus far, have cost $49,764 41 ; and lbo cabinet and Library have cost $9,777 42. Provisión should be made in some woy to elect members to Congress undcr the apportionment soon lo be made, either by general ticket or by districis, The last method is recommended. The Land Distribution act is not approv ed by the Governor. Distribuling a revenue, and supplying its place by addinonal taxation, is poer policy. Besides, tho Western States, manufacturing less (han the Eastern State?, and consuming moré foreign arlicles, will bear o greatcr ehare of ihe burden.Adetniled account of'our several picces of Inteinal Improvement, being no less than fifteen in ali, is given - showiug their length; estimated cost; amount expended; amount appropriated, and balance unexpended. They foot up as follows: 590 miles of the railroad begun, 33 miles of canals, and the improvement of five rivcrs. Estimated cost of the whole $10.489,275, though their real cost.would probably nol be let than 15,000,000. Amount appropriated, $2,842,113; of which have been expended $2,329,268, leaving an unoxpended balance óf $512,846. The Central and Southern Rail roads are the only works that ore available. - Net earnings of both for the year ending Nov. 30th $27,950, being iittle more than one per cent on their cost, and probably less than their dilapidalion. Total atnounl expended on all the public works for the year ending Nov. 30th, $419,139. The present prosecuiion of these works, except where a small amour.t wiil render them productive, must be abandoned. The wholo indebtedness of the State at this time, is $0,260,000. The annual interest on this sum at 6 per cent is $375,617. There is due to the State on the Five miliion Loan, from the Morris Canal Company, $852,625, from the U S. Bank, $1,306,312; on bonds issued for the Penitentiary, $20,000. Total amount due, $2,198, 937. This sum with proportionate interest deducted, will leave a State Debt of about $4,000,000. Some collateral security has been givcn by the Morris Canal Company for the pay ment of their debtto this State, butwhether t is ofmuch value, is unknown. The United States Bank has given no security. It is said that that instilution is rotten, and that our bonds, which were given fur the five millions when the loan was made, have been pledged by the Bank in foreign countries. It is recommended to appoint one or more persons to get up these bonds, and make a settlemcnt with the Company and the Bank. The faith of the State should be preserved inviolate. AH legal and moral obligations must beacknowlcdged and fuliïl'ed. Tlmannunl interest on all iho bonds of: the State is about $350,000. But should! an equitable settlement of affahs be made vrilli the Bank and Company, the amount will be much, reduced. The State can, if tchooses, sell the 500,000 acres of land givcn tis by thé National Government to cancel iís bonds. The Scrip should be witbdrawn from eirculation as fastas possible, and no more! issued. Tiie Governor comes out sfrongagainst 'n irredeemable currenoy, and recomHfènds !h inimediate fyrjfeiture of ihe char tors of uil 13nnks ihat du not pay specie on deraand. The Director-s and Stock-holders should be personaliy liable for the debis of Ihe bank. We likc ihcse lasi scggestion8. The people of this State have been cwrsed with a wretched j eiatèd currency longenoogh; The massage iá well wriuen, and givts a ciear ond distinct view of the afluirá of the State.