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% ^ TH E IOUKXAL L. W, R. BLAIR, EDITOR. Friday, November 30, 1SC6. Governor's Message. We ore under obligation to Col. 11 m. M. Sn a xxox, for a copy of the Governor s Message, which we lay before our readers in exlenxo, to the exclusion of all other matter. GOVERNOR'S MESSAGE, NO. 1. EXECUTIVE DEPARTMENT, Columbia, S. C., Nov. 27, 18GG. Gentlemen of the Senate, and Home of lleprcscntativcs : Your annual assembling at the seat of government has lieretoforo been the occasion of congratulation by the Executive, upon the continued happiness, prosperity and improvement of the commonwealth. I regret that no such' ?n.iTi Ko ex-tended to vou on the ccua^ ~ * present occasion. We no longer hear \ the clash of arms, nor the tread of hostile armies, and our people have escaped the scourge of that terrible disease, "which revels in the shocking carnival of death. Whilst the general health has not been so good, the virulence and "lb align ty of disease havo been mitigated, and a comparatively small fatality has visited the sick room. For these blessings, our thanks aro due the great Ruler of the Universe. In tho depths of humiliation and contrition, let us iuvoko Him to avert the evils that aro upon us ?-to stay the hand of our persecutors, to turn away the wrath, and bring to nought the counsels of those who would oppress and destroy us, and to restore to us the happiness and prosperity - f tmorc! OI iUiXLLUX JViUS,. ,The toil of tho husbandman has brought him a scanty return from his fields?the grain crop is alarmingly small?the cotton in many portions of * the State will not suffice to furnish tho the means of supplying provisions?our population, white and colored, aro abandoning their old homes and country,. and aro emigrating to strange placos, where they can find bread. With loss of labor, our forms must dilapidate, our fields remain unfilled, our granaries continue empty, and our progress in developing the resources of the State must be arrested. The failuro of the earth to make a generous return to the toil of the husbandman, causes the goods of the merchant to rest unsold on his shelves?and keeps tho tool of the mechanic idle?4lie learning of the professional man useless. Tho political condition of the country?tho intolor* nn,ce of our conquerors?the proscription to which we are subjected, by those who should bo our loving brothers, and who wield thfl tho dflsfrim'ftg nf fcl?va great nationr-theso evils intimidate capital, paralyze enterprise, disorgannize labor, and destroy hope and confi denco. The enormous tax on cottou discourages production, and aggravates the financial embarrasment. of the people. Never, therefore, in the history of -the State, has a Legitlaturo assembled under less favorable auspices, to provide "for the wants of an impoverished and disheartened constituency. But these extraordinary embarrassments must be met with wisdom, patience and courago, with energy and hope, and a manly resolvo to subdue and overcome them. "We must keep our population here?we must provide for their present necessities?we must stimulate our wliito population to go earnestly to work, and let them see that labor is honorable and idleness reprehensible. Entering a new year with this fixed determination, our fields mil be better cultivated, and the next harvest timo will find our garners well filled with the products of the soil. The staple crops will bo more abundant, and financal embarrassments of the people will, by consequence, be greatly relieved. Let us cherish hope and practice such industry as shall merit the fulfilment of these anticipations. I therefore proceed to make such I recommendations as will, in my judge- j inent, promote the interest of our common constituency. ii niSTBICT COUIITS. ... l' ' . .? The third Article of the Constitution .of this State, in the third paragraph of .the first Section, directs that "the General Assembly shall, as soon as possible, establish, for each district in the State, an inferior Court or Courts, to be styled the District Court,' the Judge whereof shall be resident of the District,.-while in office: shall be elected by the General Assembly for four years and shall be re-eligible?which Court Shall have jurisdiction of all causes wherein one or both of the parties aro peretms of color, and of all criminal cases, wherein the accused is a person of Color-; and the General Assembly is empowered to extend the jurisdiction of the said Court to other subjects." It is unfortunate that1 this clause was inserted in the Constitution. The first paragraph of the Section declares, that ' the judicial power shall bo vested in such superior and inferior Courts of law and Equity as the General Assem"bly shall, from time to time, direct and establish and this sufficiently comprehensive to authorize the establishment of any inferior Court which the wisdom of the General Assembly may determine whether it be a Police, District, County <Sr Magistrate's Court. Here, the largest discretion is given you; and ( euoh tribunals may be established as ' experien<fc.for necessity may dictatate; j but the clauses already quoted require ' the" ^General Assembly to "establish i District Courts," and these Courts must I *-*' St jlimi^iiiiwhim" i." niirrrw Le continued until the Constitution is amended in the prescribed manner, or tho instrument itself will be violated. In order that the largest discretion may be allowed the General Assembl}", in devising the best judiciary system to meet our wants in the recently changed relations of society, I rcooommond that the present General Assembly provide for an amendment of the Constitution, by striking out the third paragraph in the Article aforesaid. The next General Assembly can consummate the amendment, and then, tho Legislature will bo left, with unrestricted discretion, to establish such superior and inferior Courts as, to them, shall seem meet.? Whilst this amendment is being consummated, the District Courts maybe put fully into operation, and one year's experience will, probably, decide whether they arc adapted to the wants and meet the necessities of the public. If they should be found impracticable, inefficient, or too expensive, they may be abrogated, and some better system may be instituted. We arc thrown upon novel times, and all our legislation to meet our new situation is purely experimental. It would not be wise to discard and repeal the legislation of each preceding session, because it failed to work smoothly or give entire satisfaction. When deficiencies are discovered, remedy them, by amendment or modification. No human wisdom is equal to the task of giving a perfect system of Courts and Laws, when an ancient system must be revolutionized, to correspond with radinal changes in social, domestic, industrial and political relations. After one year's fair experiment, it may be found that the District Court is the desideratum. The Act of the last session, "to amend the Act establishing District Courts," requires essential and material amendments, to reduce its expenses and secure its efficient operation. The boundary of its jurisdiction shoukl be more distinctly defined. The services of a Grand Jury; as part of its machinery, should be dispensed with.; the authority conferred on the District Judge, to examine and dismiss frivolous eases, renders the existence of such a body unnecessary. There is a well .defined distinction between misdemeanors and crime. It is only when the prisoner is charged with crime, that he is entitled to be tried 011 presentment found by a Grand Jury. Petty larceny, and other petty felonies, may be declared, by statute, to be misdemeanors; and defendants, in all 'jhisdemeanors, may~i*otried without presentment or true bill found by a .Grand Jury. The venire for the Petit Jury should be reduced to eighteen. In the District Court it would be seldom that two panncls would be required; and the Court, on such occasions, could be employed with other business not requiring the aid of a Jury. The Jury duty now exacted will be very onerous on the people, and, as the law stands, it cannot be performed at an expense of less than eighty thousand dollars per annum. The modification suggested would reduce the expenses to onethird of that sum, for both superior and inferior Courts. The expense, to the Treasury, of Juries might be dispensed with entirely, by taxing a Jury fee in every ease tried. All traverses and imparlances should be abrogated in the District Court; and all indictments, recognizances and other papers, in the Superior Court, not disposed of, and in which jurisdiction is given to tlic District Court, should be transferred to'the District, and made valid, as if originally returned to that Court. The District Boards should be required to make their annual returns to the District Judge; and it should be made the duty of the latter to examine the same, and to enforce the law against them for misfeasance, malfeasance, or neglect. of duty. When the District Judge is interested in any case, civil or criminal, of which his Court has cognizauoc, it should be transferred to the Superior Court for trial. The Court should be invested with exclusive jurisdiction, in cases over one hundred dollars, only where the contract, express or implied, between the employer and employee, is for ag-! . li ill nil i" ricuicurai laoor. ?nc law now provides that a prosecutor, who institutes a frivolous or groundless prosecution, may be adjudged to pay the costs of such prosecution. This is an ample safe-guard against groundless prosecutions ; and the law should be so amended, that the party making complaint before a Magistrate should be granted a warrant, upon his own recognizance, to prosecute, without requiring security. To require sccnri- i ty to prosecute, is .to deny justice to 1 the poor, the ignorant, the dependent and the friendless. . These are the classes that it is the peculiar province of the law to protect; those who have wealth and friends, can readily secure the protection of the law. Doubts have arisen whether the Superior Courts of Law can take , cognizance of any offence committed by a person of color, under the clause ! n the third Article of the Constitution which declares that the District shall have jurisdiction of all cases in which a person of color is interested, or to which he is a party. The Civil Rights Act, passed by the Cnngress of the United States, "which must be respected and obeyed until pronounced unconstitutional by the Supreme Court of the United States, gives the person of color the same rights in all the Courts, State as well as Federal, as arc enjoyed by the white race; and so long as white persons are triable only in the Superior Courts for felony, the same privelcgc must be; accorded to persons of color, notwithstanding the supposed prohibition in the State Constitution, as the Constitution of the United States, and the laws passed in conformity thereto, is the supreme law, of the land. If the Civil Rights Act should hereafter he declared unconstitutional by the Supcme Court, or should it be repealed by Congress, the question under - the State Constitution might then be full of embarrassment. CRIMINAL LAW. The establishment of aPenitcntia ry requires material* changes in tnc punishments imposed in tlie Criminal Law. Murder, arson and rape, should he punished by death, The numerous catalogue of felonies punishable by death, some with and others without the benefit of clergy, should be abridged, and confinement at hard labor in the rcniteutiary be substituted, in most cases; The extreme penalty attaching to many of these felonies is revolting to humanity, and juries not unfrequently fail to find real offenders guilty, because the punishment is made, by its enormity, disproportionate to the offence. It should be left discretionary with the Judges in the Superior and District Courts to punish by imprison-1 mcnt at hard labor in the Penitentiary, or by whipping, in all cases of larceny. Punishment by the lash is so degrading, that it should be imposed upon the most incorrigible offenders alone. A convict, who serves out his term of imprisonment in the Penitentiary, even for an infamous offence, may reform; but one who has been whipped at the whipping post, must be ovorwnelmed with such a sense of shame and degradation, that he cannot command moral courage sufficient to enable him even to make an effort at reformation. I feel it incombont on me to call your attention, specially, to the gross neglect of duty, on the pact of soiuo_pf_ the Ohui invalid Tailors In this State, in al lowing prisoners to eseapfe. l'roin their custody. Unofficial information has been received at this office, that nearly scvonty. prisoners liavo escaped from the jails of this State since their custody was turned over by tho military to the civil authorities. Some of these criminals were under sentence of death, and many were charged with tho highest crimes against society. Every effort to onforcothc Criminal Law, and suppress crime, must bo unavailing, unless the custodians of prisonous who linvo been aiTested and confined in jail act with more vigilance and fidelity. The existing law pronounces the most rigorous punishment against Slierilfs and Jailors for voluntary or negligent escapes, and it is found wholly inadequate to arrest the growing evil. It is difficult to satisfy a Graud Jury that their friend, whom they have aided to elect Sheritf, or Iris agent, the Jailor, would permit a prisoner to escapo?their good will toward the delinquent leading thorn, to be readily satisfied that the escape resulted from the insecurity of tho jail.? It is even moro difficult to secure the presentment of tho Commissioners of Public Buildings for their neglect of duty, in fuiling to make the jail secure, and hence the public suffer without a remedy. When a bill of indictment is found, it is traversed, aiul when the defendent is finally brought to trial, positive jwoof cannot bo offered that the escape was voluntary or negligent, and the defendant is acquitted.' The General Assembly, since 1839, .has been almost annually passing laws, to enforce J.T ?r.? I tut? jJUUUi. Iliunui? KJJ hjn\DX?iio \jx OU111 duty in civil and criminal matters, und the end is as far as when legislation on this subject commenced. There is but one means of effecting a cure for this chronic disease?it is to provide a law for tho summary removed of a Sheriff, either through the judicial or executive department of the Government, for willful and persistent neglect of duty, or for misfeasance or malfeasance in executing liis office. The laws now provide for tiro removal of a Sheriff from office, on conviction before a Jury; but it is believed that the}' have not been enforced in a single ca60, sjneo 1 S'-'lU. Is it not notorious that somo of these officers should have been removed? Judge Wardlaw has devoted much time in preparing a liill which will be submitted to you, defining tho duties and jurisdiction of District Courts, and embracing the subjects of the domestic relations, and a codification of tho criminal law. Ilis long experience on the Bench, and his acknowledged ability, will secure, a respectful consideration of his labors. COMMISSIONKUS TO TAKE ACKNOWLEDGMENT Or DEEDS, &C. J? OTA It I ICS VU1IUC. ( Tho Acts of the General Assembly cooler upon the Governor authority to i appoint "Commissioners to take acknowledgment of deeds," iq the several ' States and Territories, "to bo used and recorded in this State the Commis sioners to continue in office during his I pleasure. The duties of these officers, "in taking the acknowledgment or proof of any deed, mortgage, or other conveyance of any lands, tenements or hereditaments, in this State, or of any contract, letter of attorney, or any other ! writing under seal," are very inipor- j tant to the interests of the public, and ; some rule should be adopted to furnish the means of verifying such certificates with reasonable certainty. This may bo attainod by requiring every person appointed or to bo appointed a Com| missioner to forward, / within ninety days, to the Secretary of State, an impression of his official seal on wax and on paper, together with his autograph: and upon his failure to do so, the appointment of each defaulter should be annulled. Notaries Public arc, likewise, appointed and commissioned' by the Governor, and aro invested with grave official duties. The Secretary of State alone can certify to the official charac ter oi a iNotary I'udiic, ana ne can make no suck certificate with safety, unless he chances to know the handwriting. Every Notary Public, now holding such commission, 'or who may hereafter be appointed,, should likewise be required to forward to tho Secretary of State, an; impression of his official seal on wax and paper, with his autograph, within sixty days, or his appointment should bo revoked. coxokessiox.vl ut/kctions. The last Congressional election in this State was held jnirsuant'to a resolution of the General Assembly, imd" there is now no provision of law for holding future elections. Although our Representatives last elected, have not- been permitted by the Congress of the United States to occupy their seats, it is the duty of the General Assembly to provide, by general statute, for the holding of general elections for each succeeding Congress. Tho convenience of tho people would indicate that these elections should bo ordered biennially, on the day that members of tho General Assembly uro chosen, to wit: The third V/1 dncsday in October, of each odd year. Representatives to Congress would then take their seats the following December, coming fresh from the people, and represent popular sentiment 011 the public questions of the day, with more certainly than if elected as heretofore, the October year preceding the meeting of Congress. If an extra session of Congress should ho called v o .1 .i? jii... i ueioro inc ciciy hauu jui luu uiuuuun, the Governor might be authorized to order, by proclamation, the elections at an earlier day, and thus secure the representation of the State at such extra session.' JtfltrsWCTloa: 1LEHIJTF.D Dl* TIIE MILITARY TO THE CIVIL AUTHORITIES. * Tho Acts passed at the late extra session, wore transmitted to the Military Commandant of i ho Department of the Carolines, at Charleston, and on the first day of October last, by General Orders, he remitted all cases in which the inhabitants of this State were concerned, civil and criminal, to the civil authorities. If equal and exact justice is meted out to all the inhabitants of tho State by courts and juries ?if the frecdmcn receive that protection of person and property which the laws now guarantee them, wo will not again be adjudged by Provost Courts and. Military'Commissions, and we will vindiuato before the world, our high sense of moral right, by enforcing impartial justice, whether tho suitor be humble or exalted. Experience will demonstrate the wisdom of. your enactment authorizing negroes to testify in all cases. It takes away tho impunity which bad men have long enjoyed, in tempting these ignorant people to'perpctrato crime for the benefit of the tempters. Tho result of the experiment at the Fall Term of tho Courts has beon entirely satisfactory, and most of the freedinen who have been called to tli> witness stand, have manifested a highly creditable desire to tell the truth.' Tho extension of the privilege has had a salutary influence in encouraging and elevating their moral sense. Many of them appreciate their obligations to society, and readily assist in bringing to punishment cvil-dbers of their own color. They aro invaluablo to tho productive resources of tho State, and if their labor bo lost by removal to other sections, it will convert thousands of acres of productive land into a dreary wilderness. For llus reason, I havo felt it to be my duty to discourage their migration. Tho short crops of tho pr sent year should stimulate the planter and farmer to renewed enorgy and enterprise. Ho will, however, find his lands of little value, if lie cannot command labor to cultivate them. If tho negro remain here, his labor must bo made sufficiently remunerative to subsist nnrl nlnthn him comfortablv. Schools must bo established to odueato his children, and churches built fur his moral training. Tho experiment of free labor, "whilst it has not boon entirely satisfactory, is far from a failure. "Where the blacks ( have been adequately compensated aiid kindly treated, tlioy have general- : ly labored faithfully. Suddenly re- ] lieved from the controlling will of nth- ( crs, and exempted from the coinpulso- i ry labor which had, through life, been ] exacted from them, they havejierformed, 1 during tho present year, an amount of ( voluntary labor which may well excito < sui-prise. The indolenco of some, and ] the improvidence of many, will doubt- i Less cause them to undergo much suf- i fering before tlioy are educated fully to . the necessity of constant and untiring s 1 / f to * labor, and to. proper tkrift and economy. ;r vi | *;V Humanity and sound poBcy unite in demanding that we_ should provide- for tho aged, the infirm, and the helpless, and 1 therefore respectfully Recommend the passage of an Act making it incumbent on the Commissioners of tho Poor to provide suitable buildings at tho various District Poor Houses for tlioir accommodation and to subsist them. The Regents of tho Lunatic Asylumhave wisely and humanely niade provision for the reception and treatment of insane colored patients, and the Commissioners of the Poor in the several Districts should be required to make the same provision for their support in the Asylum as now exists for, white pauper patients in that Institution.? Tho idiotic and epileptic' may be well taken care of at tho District Poor House. , i-ni THE FINANCES OF TUF. STATE, TAXES AND TUT? HANK OF THE STATE. The taxes levied under the Act of December, 18G5, amount to four hundred and. nineteen thousand six hundred and sixty-eight dollars and seventy one cents, ($419,668-71.) There has been paid into the Treasury, throe hundred and twenty-seven thousand geven hundred and thirty-seven dollars and ^twenty-seven cents, (?827,757.25.) Collectors commissions, 32,869 96 Freedmen's returns unpaid, (principally capitation tax) 21,819 07 Jury tickets deposited by . Tox-Collectors, 7,962 11 Tax executions issued and' in hands of Sheriffs and balances duo in hands of Collectors, 29,780 32 Total, ' 'ji ; $419,668 71 This estimate does not include executions issued by the Tax-f'ollectors, ftgainst persons who have failed to make returns, and who have been double taxed. The statement of the Comptroller-General is herewith transmitted for your information. The entire revenue received into tho Treasury from Taxes, Bills Receivable registered and carried to cash and other minor sources is $447,743 97 There has been paid out by the Treasurer, on appropriations, " 304,7.48 97 Leaving in the Treasury a balance, on tho 31st October last of 173,056 03 Subject to draft, of which j.. sum there was in National currcucy,. 73,245 35 The Treasurer has, in obedience to the Act of 21st of Scpiember last, "to provide for the redemption of Bills Receivable, issued by this State,'' promptly exchanged National currency for the Bills Receivable when presented. This will rapidly reduce tho amount he held on .31 st October. The undrawn, appro priatipnv and such additional appropriations as may be mudo at tlio present session, must be paid principally, in Bills Beceivable, until the taxes lor the fiscal year, commencing the 1st of October last, shall be paid. into the Treasury, which payments should be required to be made by the Collectors as oarly as June next. If the General Assembly re-enacts the clause in the Tax Bill of the last year, requiring that all taxes shall be paid in gold or silver, National currency, or Bills Receivable, and continues the authority to tho "Treasurer to exchange the Bills Receivable for National currency, there is no good reason why the value of the former should not be at par with the .latter. The Comptroller-General estimates thb appropriations for the present year at three hundred and ten dollars, which sum will bo increased, if tho recommendation hereinafter mado, to provide for the payment , of tlio public debt, should ho adopted. by you. The payment of .tales is, at all times onerous 'to t". 6 public, but is peculiarly oppressive to the peoplo at tho present time-' T e ordinary expenses of government, however, must' be met, and the faith and credit of the Stato maintained untarnished, and taxation is the only resource left us. The burthen should be rendered as light as possible, by the most rigid economy in making appropriations, and by requiring a strict account ibility from all public fuac ionarios. Material changes in tho subject matters of taxation and modifications in the rates are requisite to render tuxaAT\ni.nocti.rt A ocnctr.1*j ctinilM i 11UU H-OO waivw* be required to make new assessments of'the value of lands, and town twidcity lots. The Capitation Tax is onerous, and is not proportioned to the general scale of taxation; it should bo reduced ; at least one-half, and tho . employer j shoul^ bo hell liable for every poll in ; bis sorvico on 1st March next. A gen- j eral system of licenses to lawyers, doc- j tors, dentists, millers, cotton' pickeries i for toll, merchants, shop-keepers, trades- < men, auctioneers, livery stable keepers, 1 hotels and eating houses, non-resident 1 merchants and drummers, and others , should bo introduced. Taxes should be i imposed on money at interest, bonds t and solvent credits, also upon all arti- J clc8 of luxury, embracing jewelry, gold ' and silver plate, and watelies, carriages, s buggies, all horses not used for agricul- 3 tural purposes, pianos, playing cards, t etc., upon the capital stock of ail incor- r porated companies, including railroads j not exempted by law from taxation, t legacies, distributive shares in intestate n estates, pistols, bowie-knives, patent I aiedicines, and the gross profits of bro- \ leers, factors and banking incorpora- lJ :ion,s. Tho taxes heretofore imposed j-, )u express, telegraph, gas-fight and in- 1 i ura nee companies may be very mate- l dally increased .us these companies aro v ealiring large profits on their several c nvestmonts. * All public officers ivho, by lav.-, have a seal, hould be required to affix a stamp, in value t< i. i from fifty cents to two dollurs, regulated by thdir value or importance, on all papers where,the seal isfuscd, the party procuring the paper being 'required to reimburse the officer for the sdme. And lastly, a tax should be levied on all salaries and incomes exceeding five hundred dollars. A Tax Bill embracing these new features would raise a-sum abundantly sufficient"*!** meet all the current wants of the State, and provide for .-the rgradual -redemptti^ of the j public debt. The paymertt of ta^tjsttlfcsficv- A icd would full principally upon the wealthy fl and-those whose employments tbw ready cash, and would occasion comparative-' 1 ly little inconvenience to the tax-payer, I Heretofore} thViht'crcst on the publifc debt lias been paid By. the-Bank of the State- of South Carolina, but its loss of assets, growiugout of the war, together With its larger outstanding circulation, precludes' the possibility of relying further upon it; and"the debt, principal and inteacst, must be met by taxation. , . The Treasurer, with the assistance of am additional clerk, can pay out, in future, all claims from his own counter; and I recommend that an appropriation be mtule tomeet the salary of such clerk, and that.the Bank he discontinued as tho fiscal agent of the State. . The loss of assets, .and Iff# imposition,, by the general bunking law of Casgresav of so? heavy a tax on the circulation of all other than"5fiitionat 'Banks, make Itnianifesf^thai the Bank'oft tfie Stateo? "South Carolina can never' resume "'business ; and 7 recommend . that its charter be revokod or declared forfeited, aiid its books, papers'andlimcts put in the hands of Commissioners for as early liquidation as may be practicable.' TAX-COLLECTORS. ' '' ' The Tax-Collectors have heretofore been elected for the Election Districts'inwhich they reside. Since the abrogation, of- the Parish system^ the former legislation has not been changed, and Collectors are still elected by .the Voters within the formef'Pariah lines: Beaufort," constituting, now, but a. single Election District, still has four Tax-Collecors; and, Berkeley .Election. District. .has ciglitJnx-Collectors. The reason for a TaxCollcctor in each Parish ceasing. to>ii8t, the law shoupi be so modified as to elesi one for each Election District. The additional nunibers require an increase of the'books to be furnished byMho Treasurer, and a larger numbqr of returns. The commissions are insufficient t? induce business men to accept of these small places ; in one of the Parishes, the Collector's commissions arc less than fifteen dollars; and in another, St. John's, Colleton,) no collections have been made, because no one, within my knowledge, would accept the office. I recommeiid that the-iaw be so modified as to provide for. the election of one Tax-CollcQlor for each Election Pis* trict. TIIE PUBLIC DEBT. The C'oiopfroller-Genernl and Treasurer, pursuant to the requirement of tire Act of J1..4. O A 1fnvu'nfi^M] ? jat ocpicmuci moi, yi c|/oi vu ?v? hm. v.? men statement shewing the aggregate amount of the principal and interest, calculated up to-July 1, 1807, on the stocks and'bonds past due, which the Act provided, for funding; n copy of which is herewith comppiin^catcd ^ and my proclamation has been issued, calling on these bond-holders to fund tlicrr demands, confoiTiably to the Act. A contract haatfeep made to liayc the bonds printed,'and it ia agreed that tlicy shall bo delivered here by the 10th December, wlron the funding'may be coramonccd. The amount reported. as due, on.tlie 1st day of July, 1807, by the Comptroller and Treasurer, .is one million two hundred and ten thousand eight hundred and two dollars and eighty-five cents, .($L,210,802.85-jf Prevision must be mod*, at tbc present session, to pay the semi-annnal interest on this sum oil the 1st of,' January, 1868. I transmit their statement/herewith. There was no provision made ty the Act to fund the interest now due on the Stocks and Bonds of the Five Loam?the principal of the former redeemable in 1870, and the latter in 1808. The interest due an the let of October last, on stocks and-bonds, was sixty-eight thousand two- hundred and twenty dollars and fifty-five cents ($68,220.55,) and I recommend that authority be granted to fund the interest now due, and tint which will accumulate up to the 1st January, 1869. The whole amount of the public debt, principal and interest, of this State, not including the debts contracted for, or on pobount of the war, was, on the 1st day of. October last, 'five millions two hundred and five thousand two hundred and twenty-seven dollars and savptiI v-fniir OOri 927.74. V Of this umoimt., lour linfidrod'and eighty-four thou-i safid four hurtdjied and fortyfour dollars and fifty-one certts, ($484.4*14.51,) is redeem, able in 1868, arad three hundred and eighteen thousand oue hundred and fifty-nine dollar^ and' twenty-five cents, ($318,159.25,) in 1870. ' The remainder of the defi?, (noji including , three hondrcd and ten thousand dollars, (310,000.) already provided for by Act of 21st Sep, ember last, authorizing its funding) is redeemable from 1875 to 1890. The interest on the whole (except tli? Fir? Loau,) is provided for (if thn holders of tho securities will consent to fund it,) up to the 1st day of Januavy, 1868, by which time it in hoped the Shite will be in * condition to promptly pay interest as it ffiTfs due. The statement of the Comptroller-General, show* ing the debt and the several periods when it fulls dpe, is herewith communicate4. It is, however, eminently proper that some financial scheme should oe now adopted to prepare the State to meet the principal of the dcbt'as it falls due. If the interest is regtt> larly paid on,the debt, one hundred thousand dollars annually set apart as a sinking fund for twenty years, invested in: safe securities, yielding six percent, per annum, tie principal being further increased by, the investment of the interest annually pcpniiflg, tfifl iccumulate the sum of three ipiliiops eight . hundred and ninety-nine thoasa&d ; three hundred and twelve dpllarg, which will bo nearly adequate to the payment of the entivo lebt then due, and I recommend that proper legislation bo adopted at the prcs&t,session :o inaugurate this scheme. Under the Act of September 21st, already referred to, provision was made to fund the nterest on'stocks issued under authority of lie Act of 1863, to continue the construction if the new State House, The whole amount ssued was twenty-four thousand eight hunli.n.1 on.l /iOi fi'lAl f l.? II v k UIIU % II WJ11J \IU11U1 O ^VM1)U?V) ^ *UV 10 iic was not made until some time daring-the ear 1SG-1, wlicn there was a heavy dcjjr^cjar ion of the currency, and when labor pgd uatcrials were in a corresponding degree ipprcciated. Four hundred thousand dolors were issued ip 1?62, yuder authority pf he Act of 1801, when l?fr$r#nd jpaterial hai| ppvcciatcd very little.. In my proclamation cxccptcu tlicsb two issues froin immediate unding until the General Assembly met and letcrmincd whether these stocks should bo caled to the real value received by the State or them when issued. The Convention adoped a rule for the government of trep?0?liofe3 ietwccn individuals during thisetime whiffy ras just and honest, and no voaspn is pepr eived why (he same rule should apt templied iu transactions bet weep the State and Is creditors. If the General Assembly should determine 3 scale these stocks of eithcj: or both issues,