CONNECTICUT. 



205 



of exchange, bank chocks, and promissory notes, or 



;ll.|c or l'MtimnTl!illl l'H]KT, 111) trrllU-d ulnl 



iiri is the tirHt day of tliu wi-i-k, commonly 



>uti.luy ; uiul all notes, tlruftM, chocks, or otln-r 



r negotiable paper fulling duo or niatur- 



: i-iiluT of said holidays shall ho deemed as 



having matured 011 the day previous. 



Tin? action of Congress upon tho tariff, tho 

 debt, and tlio finances, is stated else- 



The following message from the President 

 was received, but no act was passed in com- 

 pliance with the suggestions: 



WASHINGTON. D. C., July 15, 1870. 

 To th Senate and House of Itepraentaticet : 



Your attention is respectfully called to the neces- 

 sity of passing an Indian appropriation bill before 

 tin- members of Congress separate. Without such 

 appropriation Indian hostilities are sure to ensue, 

 ami with them sutlVriug, loss of life, and expendi- 

 tures vast as compared with the amount asked for. 



The latest intelligence from Europe indicates the 

 imminence of a war between France and North Ger- 

 many. In view of this, a sound policy indicates the 

 importance of some legislation tending to enlarge 

 the commercial marine of this country. 



The vessels of this country at the present time are 

 insufficient to meet tho demand which the existence 

 of a war in Europe will impose upon the commerce 

 of tho United States, and I submit to the considera- 

 tion of Congress that tho interests of tho country will 

 bo advanced by the opportunity to our citizens to 

 purchase vessels of foreign construction for the for- 

 eign trade of the country. An act to this effect may 

 bo limited in its duration to meet the immediate 

 exigency. 



The loreign mail service of tho United States is, in 

 a large degree, depending upon the Bremen and 

 Hamburg lines of steamers. The Post-Office Depart- 

 ment has entered into contracts in writing with the 

 two companies above named and with the Williams 

 & Guion lines, respectively, for a regular and con- 

 tinuous service of two years. Tho only arrangement 

 that could be made with the Inman and Cunard lines 

 is temporary, and may bo broken off at any time. 

 The North-6erman lines are first class in point of 

 speed and equipment, their steamers usually making 

 the trip across the Atlantic in from twenty-four to 

 thirty -six hours in advance of the Williams & Guion 

 line. Should the North-German steamers be block- 

 aded or impeded by France, our postal intercourse 

 with foreign nations will be greatly embarrassed 

 unless Congress shall interpose for its relief. 



I suggest to Congress the propriety of further post- 

 poning the time for adjournment, with the view of 

 considering the questions herein communicated. 



U. S. GKANT. 



On July 15th both Houses adjourned, and 

 the session closed. 



CONNECTICUT. The financial condition 

 of the State of Connecticut appears to be pros- 

 perous in a high degree. Besides paying the 

 interest on her funded debt, she has been for 

 several years making payments on the prin- 

 cipal. Thus, in 18G9, she paid the sum of 

 $346,600; thereby reducing her liabilities to 

 $6,808,925.23; while she had a surplus of 

 $548,403.31, carried to tho credit of the new 

 account for tho fiscal year, beginning with 

 April 1, 1870. 



The value of the taxable property in the 

 State is advancing rapidly. Its increase last 

 year was little less than ten millions; the 

 grand list for 1869 having been $322,653,488, 



against $312,524,408, for 1868 ; which last sum 

 exceeded by some eight millions the amount 

 assessed for 1867. 



The revenue from tho State tax of 2i mills 

 on each dollar, assessed in the grand list for 



1869, amounted to $900,914.45. This sum, 

 together with tho moneys received from the 

 savings-banks, mutual and foreign insurance 

 companies, and other sources, including the 

 collection of State and commutation taxes that 

 had remained unpaid on April 1, 1869, raised 

 the receipts in tho fiscal year ending March 31, 



1870, to a total of $1,738,766.49. 



The expenditures during tho same year, in- 

 cluding the interest paid on the funded debt, 

 but exclusive of the sums employed in the pur- 

 chase of State bonds, and those expended on 

 public buildings and institutions, a.> appropri- 

 ated by the Legislature, were, in the aggregate, 

 $1,227,797.48. The debenture and contingent 

 expenses of the General Assembly for the ses- 

 sion of 1869 were $26,349.47 less than for the 

 preceding year. 



Of the State claims against the Federal Gov- 

 ernment for expenses incurred on account of 

 the late civil war, the sum of $21,400 was col- 

 lected last year. A large portion of these 

 claims, to the amount of above $200,000, still 

 remains unsettled. The Federal Government 

 refuses to allow them, objecting to the vouch- 

 ers presented therefor, on the ground that 

 certain required formalities were omitted on 

 the part of the State at the time when those 

 expenses were made. It is anticipated that, 

 under more favorable rulings at the Treasury 

 Department in Washington, about a third or 

 fourth part of these unsettled claims will be 

 allowed and paid, as they are no less just than 

 those which have been paid. 



Four banks not organized under the regula- 

 tions of the national system still remain in 

 Connecticut, doing business under the laws of 

 the State. They are banks of discount, with 

 an aggregate capital of $1,450,000, but issue 

 no circulating notes. 



On April 1, 1870, there were in the State 

 fifty-eight savings-banks; three of them had 

 been chartered by the General Assembly at 

 the session of 1869. The amount of their de- 

 posits on January 1, 1870, was $47,409,804.11 ; 

 which exceeds by more than six millions the 

 amount of their deposits on January 1, 1869. 

 The sum of their loans, secured on real estate, 

 was $27,081,162.73. 



The railway interest in Connecticut appears 

 to be steadily growing in importance and mag- 

 nitude ; and the service of the several roads is 

 improving with regard to facility and conven- 

 ience. Concerning their value of stock and 

 length of line, as well as the extent of their 

 working expenses and earning?, an abstract is 

 exhibited in the following table : 



Chartered capital of railroads |38,646,800 00 



Capital paid In $24.618,877 69 



Amount of funded and floating debts $9,897,013 68 



Cost of equipment of roads $81,091,779 88 



Number of highways crossed at grade 998 



