GOVERNOR'S INAUGURAL MESSAGE. Gentlemen of the Senate and House of Representatives: Having been selected as representatives of the people, and having taken the oath of office, we are now assembled in accordance with the provisions and requirements of the Constitution, for the purpose of inaugurating another biennial term in the political history of Michigan; of examining critically the condition of the State, and of considering what legislative action is required to promote and secure the best interests of those whom we represent. Relying upon our capacity and judgment-upon our integrity and honesty of purpose-our fellowcitizens have delegated to us, to a certain extent a least, the exercise of their political rights; and have conferred upon us the requisite authority for the proper performance of the duties thus imposed. Before proceeding to the fulfillment of those duties, it becometh us to pay our vows of obedience to the Ruler of the Universe, and with grateful hearts to acknowledge his bountiful goodness. Since the representatives of the people were last assembled within these Halls, a beneficent Providence has watched over the interests of the State, and health has prevailed within her borders; and notwithstanding the shadows that may have clouded our National horizon, we have been graciously surrounded with peace and prosperity, and are now permitted to assemble under favorable auspices; and although our granaries may not have been filled to overflowing, yet the earth has yielded an abundant supply for all our necessary wants-industry has found an abundant reward, and all the channels of business have been more than ordinarily prosperous. Let us, then, with profound gratitude for the mercies of the past, look to that same guidance for wisdom in the future, in our endeavors to promote the continued welfare of our noble commonwealth. The Constitution of our State provides that the Executive, at the close of his official term, "shall give to the next Legislature, information by message, of the condition of the State, and recommend such measures to them as he shall deem expedient." This provision of the Constitution is sufficiently clear and explicit where both the retiring and incoming executive officer is the same person; but when such is not the case, as nothing is said in the Constitution in reference to the duty of the Executive in this particular, at the commencement of his official term, it may be somewhat doubtful how far his duty requires of him specific recommendations, which may be but repetitions of, or perhaps in conflict with, those made by the retiring officer, and must necessarily be made in the absence of a full knowledge of all the facts. But if the Constitution does not, an unbroken custom does demand of him at least a brief inaugural address, and a failure to comply with the public expectation in this regard, if not unconstitutional, would at least be singular. The condition of our country, and the present and prospective high rates of taxation, require that appropriations and outlays of money should be made with great caution and prudence; not that prudence which is merely another name for parsimoniousness and meanness, but that prudence which is liberal without being profuse and extravagant. True economy avoids all extremes, and looks to the saving of money by a rational and judicious expenditure of money. The policy of the Legislature in the enactment of laws should be such as to secure the best interests of the whole State; and all mere local or special legislation, designed to promote the exclusive and separate interests of some particular section, but which would be to the detriment of the interest of the State at large-no matter how great the benefit may be to that section-should be avoided. And, on the other hand, legislation for the promotion of the interests of any particular locality should be freely and promptly made if the benefits to be derived therefrom should exceed the expenditure thereby incurred on the part of the whole State. FINANCE. The financial affairs of the State are in a prosperous condition; and the receipts and payments of the State Treasury during the fiscal year ending Nov. 30th, 1864, have been as follows, viz: The total receipts into the Treasury were $2,444,242 25, and were derived from the following sources, viz: Balance of cash in the Treasury, Dec. 1st, 1863,.. $354,121 08 751,117 31 The payments from the Treasury amounted to $2,004,194 98 and were as follows, viz: Paid on account of General Fund,........ $478,114 56 1,250 00 160 86 137,154 86 120 00.' 42,590 31 40 00 State Building Fund,............. Asylum Fund,..... Swamp Land Fund,.. 11,410 50 5275 72,011 00 171,470 44 Leaving a bal. in the Treasury, Nov. 30, 1864, of 440,047 27 .$2,004,194 98 $2,444,242 25 STATE DEBT—(INTEREST BEARING.) Canal Bonds, 6 per cts., due Jan. 1, 1878,...... Renewal Loan Bonds, 6 per cts., due Jan. 1, 1878, "2,000,000 Loan" Bonds,7 per ct., due Jan. 1, 1868, Is made up of the following items, to-wit: War Loan Sinking Fund, 1-16 mill tax,...... War Loan Sinking Fund, from surplus of taxes levied for interest,.. $10,753 49 30,674 00 "$2,000,000 Loan" Sinking Fund, mill tax,.. . 21,506 98 Primary School Fund, from July 1st, 1863, to July 1st, 1864,.... 131,892 19 University Fund, from July 1st, 1863, to July 1st, 1864,.... 24,455 59 Normal School Fund, from July 1st, 1863, to July 1st, 1864,....... 2,510 93 Total,... $221,793 18 My predecessor has recommended in his valedictory, a continuance of the financial policy adopted by the Legislature of 1861, upon the recommendation then made by him in his Inaugural, and which has since been steadily pursued, viz:-That we |