From Senate District Number Thirteen, From Senate District Number Fifteen, From Senate District Number Sixteen, From Senate District Number Seventeen, From Senate District Number Eighteen, From Senate District Number Twenty, From Senate District Number Twenty-one, From Senate District Number Twenty-two, George Geddes. From Senate District Number Twenty-three, S. H. P. Hall. From Senate District Number Twenty-four, William I. Cornwell. From Senate District Number Twenty-five, Timothy S. Williams. From Senate District Number Twenty-six, William M. Hawley. From Senate District Number Twenty-seven, Jerome Fuller. From Senate District Number Thirty, From Senate District Number Thirty-one, John T. Bush. From Senate District Number Thirty-two, Frederick S. Martin. Mr. Brownson announced that Mr. Charles Colt, elected at the last general election to fill the vacancy in the office of Senator from the Twenty-ninth District, occasioned by the resignation of Allen Ayrault, was in attendance, and Mr. Colt took the constitutional oath of office, and was qualified. On motion of Mr. Lawrence, Resolved, That a committee be appointed to wait upon the Governor, and inform him that the Senate is in session, and ready to proceed to business. Ordered, That Mr. Lawrence and Mr. Fine be such committee. Resolved, That a committee be appointed to notify the Honorable the Assembly that the Senate is organized and ready to proceed to business. Ordered, That Mr. Martin and Mr. Smith be such committee. On motion of Mr. Little, Resolved, That the Clerk be directed to invite the clergymen of this city, having charge of congregations, to open the daily settings of the Senate with prayer, in such order as may be most convenient for themselves. On motion of Mr. Cornwell, Resolved, That the Clerk of the Senate furnish to each of the members, officers, reporters and messengers of the Senate the usual articles of stationery, including penknives of the usual quality, and of American manufacture, and that the expense thereof be defrayed from the contingent fund of the Senate. On motion of Mr. Brownson, Resolved, That the Clerk of the Senate furnish to the Lieutenant Governor and each of the Senators, such newspapers as they may respectively direct, not exceeding in amount two daily papers. Mr. Lawrence, from the committee appointed to wait on the Governor, reported that they had discharged said duty, and that the Governor replied that he would immediately transmit a message to the Senate. Mr. Martin, from the committee appointed to wait upon the Assembly, and inform them that the Senate was organized and ready to proceed to business, reported the discharge of said duty. A message from the Assembly, delivered by Mr. Cross, from a committee of that body, was received, announcing that the House of Assembly was organized and ready to proceed to business. A message from the Governor, by his Private Secretary, Robert H. Morris, jr., was received, and read, in the words following: Fellow-Citizens of the Senate and of the Assembly: The commencement of another year has brought you together to discharge the high trust with which you have been commissioned by the people of this State, of enacting laws for the government of nearly three millions of freemen. Before you enter upon that important duty, permit me to congratulate you upon the circumstances under which you meet. The year which has just closed, has been one of unusual prosperity to the people of our State. The Almighty Ruler of the Universe has been pleased to vouchsafe to us a continuance of his many blessings; the influences of religion and learning have been extended; the labors of the husbandman have been crowned with the rewards of an abundant harvest; the mechanic and artisan have enjoyed the well-earned return of their honest industry; commerce and manufactures have continued to engage the enterprise and the intelligence of a large portion of the people, while the Arts and Sciences have gradually spread their influence, and are developing new sources of wealth and prosperity. Prominent among the benefits which the past year has brought, is the restoration to our country of the blessings of Peace. While other nations have been threatened with famine, or ravaged by pestilence, or convulsed by foreign wars, or by civil commotions, our thanks are due to Almighty God for His signal blessings conferred upon our country. We enter, then, upon the duties of our respective offices, surrounded by these evidences of the welfare of our people, as individuals, and of their prosperity as a Commonwealth. The public confidence in the credit of our State was favorably exhibited by the terms on which the loans, authorized by the act of the last Legislature," to provide for deficiencies in the Sinking Fund under the provisions of article 7 of the Constitution," were taken. A part of these loans were taken at par for stocks bearing five and a half per cent. interest, redeemable in the year 1855; the balance was issued at six per cent. interest, also redeemable in 1855, for which a premium, averaging 2.80 per cent. was obtained. The entire debt of the State at the close of the last fiscal year, and the annual amount of interest payable thereon, was as follows: $1,241,082 39 $22,703,343 23 In addition to this, there is a contingent liability of the State, arising from the loan of its credit to certain corporations, (which have hitherto paid the interest,) amounting to,.. Making the entire outstanding debt, both direct and There was on hand, on the 30th Sept. last, a surplus 1,233,905 60 $23,937,248 83 There was a deficiency in the General Fund Debt Sinking Fund, of $1,008.97, which had been advanced from the revenues of the General Fund,. 1,008 97 Making the total liability of the State, on the 30th Sept. last, above the means on hand for its redemption, 114,944 43 $23,822,304 46 The revenue of the State for the last fiscal year, was as follows: I. General Fund. Surplus revenue the 30th Sept., 1847, ... constitutional Permanent revenue, exclusive of the $111,665 93 appropriation of 188,030 60 238,303 74 $200,000 annually, from the surplus of the canal revenues,. State Tax,.... .... Miscellaneous and temporary receipts, Sundry receipts, for which previous advances had been made, or which were to be withdrawn subsequently from the Treasury,. II. Canal Revenues. Tolls, includ 20,065 14 71,823 83 $629,889 24 The payments out of the Canal Revenues above mentioned, amount Expenses of collection, superintendence and ordina $3,204,070 16 nary repairs,..... $855,850 64 Appropriated and set apart by article 7 of the Constitution unusual prosperity to the people of our State. The Almighty Ruler of the Universe has been pleased to vouchsafe to us a continuance of his many blessings; the influences of religion and learning have been extended; the labors of the husbandman have been crowned with the rewards of an abundant harvest; the mechanic and artisan have enjoyed the well-earned return of their honest industry; commerce and manufactures have continued to engage the enterprise and the intelligence of a large portion of the people, while the Arts and Sciences have gradually spread their influence, and are developing new sources of wealth and prosperity. Prominent among the benefits which the past year has brought, is the restoration to our country of the blessings of Peace. While other nations have been threatened with famine, or ravaged by pestilence, or convulsed by foreign wars, or by civil commotions, our thanks are due to Almighty God for His signal blessings conferred upon our country. We enter, then, upon the duties of our respective offices, surrounded by these evidences of the welfare of our people, as individuals, and of their prosperity as a Commonwealth. The public confidence in the credit of our State was favorably exhibited by the terms on which the loans, authorized by the act of the last Legislature," to provide for deficiencies in the Sinking Fund under the provisions of article 7 of the Constitution," were taken. A part of these loans were taken at par for stocks bearing five and a half per cent. interest, redeemable in the year 1855; the balance was issued at six per cent. interest, also redeemable in 1855, for which a premium, averaging 2.80 per cent. was obtained. The entire debt of the State at the close of the last fiscal year, and the annual amount of interest payable thereon, was as follows: $1,241,082 39 $22,703,343 23 In addition to this, there is a contingent liability of the State, arising from the loan of its credit to certain corporations, (which have hitherto paid the interest,) amounting to,.... Making the entire outstanding debt, both direct and 1,233,905 60 $23,937,248 83 |