The Speaker, by unanimous consent, announced the follow ing: SENATE CHAMBER, Lansing, January 2, 1873. ( To the Speaker of the House of Representatives: SIR-I am instructed to return to the House the following concurrent resolution: Resolved, By the House (the Senate concurring), That the joint rules of the Senate and House of Representatives in joint convention of the last Legislature be and they are hereby adopted as the rules of the present Senate and House until otherwise ordered; In the passage of which the Senate has concurred. Very respectfully, JAMES H. STONE, Secretary of the Senate. The communication was laid on the table. Mr. Shaw offered the following: Resolved, by the House of Representatives of the State of Michigan, That the Clerk of the House be and is hereby instructed to procure from the clerks of the several counties of this State, certified copies of the assessed and equalized valuation of their respective counties for the year 1872; Which was adopted. On motion of Mr. Grant, The House took a recess until five minutes to 11 A. M. AFTER RECESS, The House was called to order by the President at five minutes before 11. Roll called: quorum present. The Speaker, by unanimous consent, announced the following: SENATE CHAMBER, Lansing, January 2, 1873. § To the Speaker of the House of Representatives : SIR-I am instructed by the Senate to transmit the follow ing concurrent resolution: Resolved (The House concurring), That the Senate and the House of Representatives meet in joint convention in Representative Hall to-day at eleven o'clock, to hear the message of the retiring Governor; Which has passed the Senate, and in which the concurrence of the House is respectfully asked. Very respectfully, JAMES H. STONE, On motion of Mr. Shaw, The House concurred in the adoption of the resolution. Mr. J. Walker moved that a committee of two be appointed to wait on the Senate and inform that body that the House was ready to receive them in joint convention. The Speaker appointed Messrs. J. Walker and Hoyt. After a short absence the committee reported that they had performed the duty assigned them, and were discharged. The Sergeant-at-Arms announced the Honorable Senate, who were conducted to seats. PROCEEDINGS IN JOINT CONVENTION. The joint convention was called to order by the Hon. Henry Holt, Lieutenant Governor and President of the Senate. The roll of the Senate was called by the Secretary thereof, and a quorum of the Senators were present. The roll of the House was called by the Clerk thereof, and a quorum of the members were present. The President of the Senate announced that the joint convention had assembled for the purpose of receiving the message of His Excellency, the retiring Governor, Henry P.. Baldwin. Senator De Land moved that a committee of five be appointed to wait on His Excellency, the retiring Governor, and inform him that the Senate and House were assembled in joint convention, and were ready to receive any communication he may be pleased to make; Which motion prevailed. The President announced as such committee Senators De Land and Emerson, and Representatives Grant, Miller, and Withington. After a short absence the committee reported that they had performed the duty assigned them, and announced His Excellency, retiring Governor Baldwin, and the State officers in attendance. Governor Baldwin then read his message, as follows: Gentlemen of the Senate and House of Representatives: I greet you at the opening of the new year and of another biennial period of our history, with congratulations upon the favorable auspices under which you have assembled to legislate in behalf of the material interests of the State. Never before has the prosperity of the entire country been so gratifying, and its influence with other nationalities so commanding. Success in a degree unprecedented has attended our agricultural, manufacturing, and mercantile pursuits; labor has found ready employment; has been properly appreciated and well rewarded; the tide of immigration from the older countries of the world has steadily augmented our population; educational advantages have multiplied, and now are offered freely to all classes and conditions of people; and peace, with all its blessings, prevails at home and with all the nations of the earth. Amidst this general prosperity, Michigan has not been behind any of its sister States. For a long period after its organization, the marked advantages which our State possessed were but little known and appreciated. The fact that its heavily timbered lands could be brought under cultivation only by great and patient labor, sent many of the seekers for new homes to the prairie States. During the last few years, however, the superiority of its location, the great value of its forests of timber, its immense and rich mineral resources, its healthful climate, its productive soil, beautiful lakes and rivers, the high character and flourishing condition of its educa tional and charitable institutions, the prosperous state of its finances, the light burden imposed upon the people by way of taxation, and the general prudence and economy of its government, have come to be fully understood and appreciated, and have all combined to give our State the prominence and high character to which it is justly entitled. Our vacant lands are being rapidly taken up by industrious and intelligent settlers. Railroads are being extended and traverse the State in all directions, and we may safely predict that its present prosperity and rapid growth are but the harbingers of its future greatness. A brief statement will show the satisfactory condition of the State FINANCES. Balance of cash in the Treasury Nov. 30, 1870.. $458,307 97 Receipts for (10 months) the fiscal year ending Balance in Treasury Sept. 30, 1871. Receipts for fiscal year ending Sept. 30, 1872. $694,122 66 2,181,498 22 Receipts for the two months ending Dec. 31, 1872 357,110 19 Total... $1,334,334 22 Disbursements for the same time.. 567,363 76 Balance in the Treasury Dec. 31, 1872 $766,970 56 The estimated receipts and expenditures for the fiscal years ending Sept. 30, 1873, and Sept. 30, 1874 are as follows: For the year ending Sept. 30, 1873, including balance in the Treasury Sept. 30, 1872. Expenditures for the same period... Balance Sept. 30, 1873... $2,438,300 08 2,081,004 23 $357,295 85 Receipts for the year ending Sept. 30, 1874. 1,260,900 00 Disbursements for the year ending Sept. 30, 1874, 1,089,510 00 Balance Sept. 30, 1874.. $528,685 85 The estimates for the present year include the payment of all demands upon the Treasury now due, and all appropriations heretofore made and payable prior to or within the year 1873; they also include such amounts as will be needed for the current support of the several State institutions, and all other appropriations now recommended. The estimates for 1874 are made upon a basis of an aggregate State tax of one mill on the dollar; they also include all appropriations herein recommended for that year. Neither of the estimates include the payment of other State Bonds than those already matured. The funded debt, January 1, 1869, was $3,614,078 49. Of this debt $1,538,785 71 have been paid, and the sum of $313,000 has been placed in New York for the redemption of the same amount of six per cent bonds, maturing on the first day of the present month. Since January 1, 1869, $51,000 of War Bounty Bonds have been issued for the payment of soldiers' bounties, under Act No. 85, Laws of 1865, all of which have been purchased through the sinking fund and canceled; the virtual payment, therefore, of the bonded debt of the State within the last four years is $1,902,785 71, being an average annual reduction of $475,696 42. The payment of interest on the |