NhOm tAe Me,p.Hapen Hsrald.
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ZA. MT. Speaker Cleaveland took the Chair and the House w1S called to order few minutes before 10 o. Prayer by the Rev. Mr. Croswell.

 | The Roll was then called, and quorum being pre-. sent, (l52 members answering to their names,) the House proceeded to business

 point Committee to wait on the SeRaie and inform that body that the House was organized, and ready Messrs. Griffin and Woodruff appointed that Com mttee.

 MT: Johnson, of Plain6ed, moved that Committee pc De appointed, m connection with q Committee of the Senate to wait on His Excellency the Governor and morn nm that the Legislature is now convened and

 e bnS anf Peady to receive 8ny F. B Johnson and Boordman appointed the Commit.

 A communication was received from the Senate. informing the House that that body was then conven. ed and ready to proceed to business.

 , At IA before II, His Excelency transmitted, by the hands of his Private Secretary the following Mes sage, which, with the accompanying documents, waa read, a1d on motion of MT. Beardsey, 20OO copies were oFsered to be printed for the use the members

 ommttee appointed at the last session. would be con.

 MT. Boardman offered a resolution that Comn,i.-

 sage as relates to the expedency of receiving that por u9n 9t the surplus revenue accruing this State- ea Brds BRadssed sHd Mes' s Bssrsey Nse Wlghtman, and Fuller, (one from countyj were ap. pom1nted mt on that Committee.

 ;.. aisO oHered resolution, that Con1-

 1!e.ee o pc appointed on go much of the Governors

 Message as relates to the disposition of that portion of meon ne Spgs % M Fsvsnne accrng to this sae which, was not deemed expedient receive the money, tho appointment of the last committee would be unneces- sa5yo was laid e 9n s the table,

 Congress referred to by the Governor in his Message were ordered to he printed for the of the members

 Adjourned to o'clock P. M.

 MESSAGE.

 Gentlemen of khe Senate and

 Gentlemen 0f the House of Represenfat;pes

 Soon after the close of the last session of the Gener. al Assembly, a communication received from tho Secretary of the Treasury of the United States, enco- by the Congress of the United States in relation to tho pubic money; and inviting my official attention to tne thItesnh m section of this act so far connec mat the nal action of this State, the subject should be comm1ncated to the Treasury Department as ear.

 as p6ssin,e; The letter and its accompaniment arc By the thirteenth section of this act it is provided

 That the money which shall be in the Treasury of the mons dsy posted with such of the several States in proportow 5G % her respective representation in the Senate and sha by law, authorize their Treasurer or the com petent authorities to receive the same on the terms herclnater specied and the Secretary of the Treas competent authorities receiving certificates of de- pos therefor, signed by such competent authorities, in such form as may be prescribed by the Secretary and legal obligations and pledge the faith of the State. for the sefe keeping and repayment thereof and sha pledge the faith of the States receiving the same to to time, whenever the same shall be required by tho Secretary of the Treasury. for the purpose of deay- mount of the five millions aforesaid; Pror;ded, That any State declines to receive its proportion of the surplus aforesaid on the terms before named the sae shall be deposited with the other States agreeing to accept the same deposit in the proportion aforesaid And ProUded further, That when said money, or any part thereof, shall be wanted by the said Secretary be called for, in rateabIe proportions within year, as nearly as conveniently may be, from the different States with which the same deposited and sha!n not from any one State, in any month, without prev. ous notice of thirty days for every additional sum of twenty thousand dollars which may at any time be

 By the fourteenth section of the same act is also provlded-"T the said deposites shall be made with the sa!d States m the following proportions and at the of January eighteen hundred and thirty seven or as soon thereafter as may be one quarter part the July, and quarter part the first day of October. all in the same year." It appears by the Report of the Secretary of ths President at the opening of the present session Con gess that the amount to be distributed under this act will probably somewhat exceed one hundred and amount to be distributed to this State therefore, will not vary much from one million of dollars 1t is with particular reference to this act of Congress and that this State might be enabled to decide respecting thu reception and disposition of this money that you have been convened at the present time.

 The question first presented to our consideration. spects the reception of this money on the terms apec fled in the act referred to. Whatever differences of opinion may have existed respecting the policy or ex- Pediency of the act of Congress it is presumed that little, if any, will exist on the question now presented more especially as the subject comes to us divesed of constitutional difficulties.

 fits reception should be determined upon, the next thing be settled is, it's dspoeitien; and on this ssb- ect would suggest that by the terms of the act to merely deposit, abe to be called of our hands on the occurrence of contingency, with respect to which there IS and must necessarily be, the utmost uncertainty. That we receive the money on the terms of the act and pledge ourselves to faithful comph- of the trust good faith and good policy equally quire that the principle should be kept as far as prac- date control; and that the interest only should be garded as the property of the Sate and subject to it's dispositions This may be accomplished without the creation of any new officers and without any ateri- thorzing the Commissioner of the School Fund to loan the same on mortgage security. as the moneys or mas fund are now loaned Ifany opprehension should be entertained that particular portions ot the state wou3 danger in this respect would very easily be obviated by suitable legislative provisions r

 We arc next presented with the question, What shall be done w,th tie interest? This is very in- porant question, and it's decision very interesting conseauences are dependent. 1t has engaged my most serious and anxious thoughts and after viewing the subject in all its bearings. and avaing myself of all the light and assistance to be derived from the means within my power. have come to the conciG- sion that no better disposition can be made of this n terest, than by adding it to the Scheo Fund of this State. -, lar and hve each child iv