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Just sent 10 the Legislature states that


1.-The income OF the State from all sorrces, during hsDr
same period have reached the sum OF si 7V4 65 oi WIZ
however iS3 73 have been applied TO the reducone e1
principal of the public debt. Tine current income he, hst
fore eccseded the ordinary expenses Of the sate s c{
year Ia portion Of IT, however, subject TO undawn appE ~
lions, amounted TO s705S 90 To which mny be added "a "a
$500, being the unexpended balance oil the conuhse0
placed the hands OF the Executive.
In relation to the Public Debt the Governorsays:


81 recommended TO the last Legislature TO take spedJ =
effective measures for the payment OF the pubc y ls% M mi
amounting three md half millions OF dollars, sSg
the interest which, including charges. exceeded pei
rected to redeem at the rate OF hye hund'ei th2Iss
lars year. An act was passed requiring the Bank sf M
for the payment of The nstalmenis Of the Geo -
Ing due the snt OF January. lsb and o. ano5.' y,
to 800 co., and 10 deliver to the Comptroller Genea y
cancelled the evidences Of Stale debt IN lis pcSseon -
amount of s45,2D Ofhe eyldanee Of Stale debt .ea I
amount of debt, the liquidation OF which was pfoydea ~
the act of lest session. ssol !, nbout four na IT,
thousand per for two years. am happy 70 s1y
last, and that he cancelled s47 S g Of tho public det
ing something tnn required OF II and1 90
that Will pfoydefo for the punctn paymea, of the ''s'
OF 1915 and as they become due. H.


The Governor, nudng to the strong pctnre drawn |" ~
President of the Bank Of the State oil the dissfo" c
quences attempting collect large sun. hfo' ss'
half millions from its debtors for The purpose of On
Public Debt. recommends the matter to the con'ce'aau
the Legislature, and says:


Is Il for 10 slurnber such volcano! io7, ~.
Just regard for the safety and welfare Of the conmunyg
that efficient should be taken 10 remove Ito
the earliest possible PERIOD, engine so desHucye ~,
fraud accident, overnight might at any nioment pss
fatal operaton2 II III least worthy your coa,seiss n
whether TO incur the risk OF forever; ana sy ~.
be lost cannot be closed seven without ceso
the State"