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treasury, which has lain uncalled for during a long period of fiscal embarrassment, although Congress subsequently to the distribution, expressly prohibited the Secretary from demanding the moneys without its express authority. Having observed with much pleasure, the introduction into the House of Representatives of a bill which would carry into effect the views I have heretofore presented to the Legislature, I again respectfully submit the inquiry, whether the people of New York expect to withdraw from the endowment and support of the common schools, and other seminaries of learning, the sum of four millions of dollars thus derived, and pay it into a treasury which, when well managed, overflows with the tributes of their own commerce.

Sources of revenue-Auction Sales-Salt. After the canal tolls, our chief sources of revenue are, the duties upon auction sales, and upon the manufacture of salt at the salt springs. Previous to 1858, such sales were required to be made by persons appointed by the Governor and Senate. It was justly urged against that system, that it was a monopoly injurious to trade, and that it unneccssarily increased the patronage of the exccutive, and it was therefore abolished. It has been thought worthy of inquiry, whether the plan now pursued is not defective in provisions for securing the payment of the duties constituting the

revenue.

The salt springs furnish a supply of water ample for the production of half a million of bushels of salt annually; but the demand within the regions dependent upon them, scarce exceeds half that quantity. It has been believed that by a judicious reduction of canal tolls upon the salt manufactured from the water of those springs, the market might be extended, the manufacture increased, and consequently the revenue of the State augmented. To these suggestions, I respectfully add that of a negotiation upon some equal basis with the State of Ohio for a reduction of tolls upon our salt transported upon the canals of that State, which might be reciprocated by a reduction of our tolls upon coal and other minerals from Ohio.

recting the appointment of two Vice-Chancellors in the first circuit, one in the eighth, and an additional judge of the Court of Common Pleas in the city of New York. The Legislature of 1839, reduced the fees and emoluments of registers and clerks in the Court of Chancery by a law which diminished the aggregate compensation annually paid to those officers by about the sum of thirty thousand dollars, The Legislature of 1840 entitled itself to the lasting grati tude of the people, by benign measures designed to produce a reform in legal proceedings. It dissolved the connexion between judges of county courts and boards of supervisors, in the appointment of county treasurers and county superintendents of the poor, a connexion by which judges were made partizans, and the power of the Executive department was exercised to defeat the will of the people in the selection of those local functionaries. The office of Commissioner of Deeds was abolished, except in cities; its dutica were devolved upon justices of the peace, while the fees allowed for those duties were diminished; and thus an office was dispensed with, in which there were about three thousand incumbents, and the burthens of the people were sensibly diminished. A law was also passed requiring all judg ments designed to affect any real estate, to be docketed in the county in which such real estate is situated. This measure has relieved the alienation of land of onerous charges, and much inconvenience, and has removed one of the causes which diverted business from the Courts of Common Pleas into the Supreme Court. The jurisdiction of justices courts was extended, so as to include controversies where the amount involved does not exceed one hundred dollars. It is gratifying to notice the progress of these domestic tribunals in the favor and confidence of the people. Their jurisdiction was originally limited to demands not exceeding five pounds, or twelve dollars and a half. By other laws, the Legislature reduced the fees of many other officers, and diminished the average cost of foreclosure of mortgages to a sum two-thirds less than under the former system, that of collecting debts in actions not litigated to a sum three-fourths less and the costs in litigated suits to an amount one-third less. While there can be no doubt that these measures were in principle

Defective organization of the Courts of law and equity.just and that the reform which has been accomplished was

It was submitted to your predecessors that the administration of justice was hindered and delayed and rendered oppressive by reason of the defective organization of the Courts of law and equity; that the Court of Chancery was incompetent to its important duties; that causes remained on its calendar more than two years; that its patronage and power were too great to be reposed in a single judge, that the Supreme Court was oppressed with business, and could not perform it with the deliberation and despatch required by the public welfare; that Courts of Common Pleas had in a great degree been deserted by suitors, and had the form and organization of courts of justice, while they enjoyed little of the popular respect due to such tribunals, and performed few of their important functions; and that the compensation heretofore paid to registers and clerks in Chancery, and to the clerks of the Supreme Court, to county clerks, surrogates, notaries and Supreme Court commissioners for their services, to attorneys in the collection of debts, and to solicitors, counsellors and masters, in the foreclosure of mortgages, was disproportioned to the services actually rendered, and was unnecessarily increased by the prolixity and tediousness of legal forms and proceedings. It was proposed to re-organize the Court of Chancery and the Supreme) Court, to restore the efficiency and usefulness of the Courts: of Common Pleas, to enlarge the jurisdiction of the Justices' Courts, to introduce greater simplicity and brevity into legal proceedings and to reduce the fees of the various public officers to such a scale as would afford just compensation for necessary services. Although the necessity of re-organizing the higher courts was earnestly insisted upon by my predecessor as well as by myself, has engaged the attention of the Legislature for several years, and has been made the subject of reference to the judiciary and to a special commission, yet such have been the difficulties attending any improve ment, that it has been left for your consideration. The only measures which have been adopted were temporary laws di

necessary, it is complained by many who are conversant with the practice of the court, that some of the laws which have been passed are imperfect, liable to be evaded and in some respects unequal in their operation. Such a result is by no means improbable. There are few of the works of man which are not susceptible of improvement; and certainly all experience has shown, that laws seldom form an exception. If the system which has been substituted in the place of one that had long prevailed, is, in any material respect defective, or unjust, I doubt not that it will afford you much pleasure to make the necessary amendments.

Charitable Institutions.

The charitable institutions under the patronage of the State, have heretofore been commended by me to the Legislature; and I am happy to acknowledge that no appeal made in their behalf has been denied. It was suggested in 1839, that the interests of the State required the visitation of the Institution for the instruction of the Deaf and Dumb. The Superintendent of Common Schools was very properly charged with that duty.

Penitentiaries.

In regard to our Penitentiaries it has been maintained that discipline ought to be tempered with kindness, and that moral influences should be employed to secure the submission and promote the reformation of convicts. Although some improvement had been made in this respect, more may yet be accomplished. It is too often forgotten, that the object chiefly contemplated in the adoption of our Penitentiary system, was the reformation of offenders. This object de rives its importance from considerations of prudence, as well as of philanthropy. The unreformed convict, after being released, spends a brief period in committing depredations upon society, and in corrupting youth, and then returns to the prison to exercise a vicious influence upon his fellow.

prisoners. Reformation can seldom be expected, without addressing the mind. I would have the school-room in the prison fitted as carefully as the solitary cell and the workshop, and although attendance there cannot be so frequent, I would have it quite as regular.

Our Currency.

Our currency was sustained in 1839 and 1840, during a period of suspension in most other States. For this advan tage we are indebted to a supervision of the banks, to the The recent establishment of a separate institution for female establishment of a free banking system, to the repeal of the act prohibiting the circulation of small bills, and to the law prisoners, under the management of one of their own sex, reflects much honor upon the State; and I am happy to add of the last Legislature regulating the redemption of bank that it has realized the expectations of the Legislature. Fe- notes. The policy found most conductive to the public welfare, has been to desist equally from increasing the number males convicted within the district from which criminals are received at the Auburn prison, are now sent to that Peni- of chartered banks, and from legislation hostile to those in tentiary, where they remain until an Executive order is made existence; to correct the defects in the new system of free for conveying them to Mount Pleasant, and such an order banking and to give it a fair trial; to require of all banking institutions and associations, not only a prompt redemption cannot be made for less than ten convicts. This temporary of their circulating notes, but also that such notes shall be at imprisonment of females in the prison at Auburn operates all times kept in good credit throughout the State. These harshly towards them, and is inconvenient in regard to the management of that institution. I respectfully recommend views having prevailed in the Legislature during the last that the law be modified so that females be directly conveyed, have ceased; and it has happened for the first time withtwo years, the public inconveniences which heretofore existed to their proper Penitentiary. The chief obstacle to a reformation of this class of offenders is the inflexibility within thirty years, that the Legislature is relieved alike from apwhich society rejects them after their season of penance is past. those by whom such privileges are held. plications for banking privileges, and from complaints against While the cause of public morals requires their exclusion at least until they have given satisfactory evidence of reformation, humanity and expediency unite in recommending proper efforts to sustain those who are truly reformed. It has been suggested that a retreat might be provided for them at Mount Pleasant, where under the care of benevolent females, they might maintain themselves by labor until by good conduct, they should become entitled to employment elsewhere. Such a plan must necessarily be left to private liberality, and I am informed that such liberality is awakened to the undertaking, and ready to engage in it, if a proper edifice can be obtained. There is a building which belongs to the State, situated near the prison, and now of very little use, which might be devoted to this humane purpose, at least until the experiment can be tested. The whole number of male convicts in the State Prisons is fourteen hundred and twentythree, of whom eleven hundred and fifty-three are white, and two hundred and seventy are colored persons. The number of female convicts is seventy-four, of whom forty are white and thirty-four are colored. The sex has a just claim to extraordinary effort for the reformation of the small number of persons it furnishes to our prisons.

House of Refuge.

The success which has crowned the benevolent efforts of the founders of the House of Refuge, has induced an opinion that it would be profitable to establish a similar institution in the western part of the State, where the subjects of its discipline could be maintained at much less expense than in the city of New York.

Imprisonment of non-resident debtors.

The law which authorized the imprisonment of non-resident debtors, against whom no fraud was alleged, was repeated at the last session upon the ground that the practice operated injuriously to trade, and was inconsistent with the benign spirit of our code. There remains now only one relic of that usage in this State. Imprisonment for debt is allowed in actions brought in the federal courts; and by the laws of this State, our jails, designed only for the custody of criminals, are permitted to be used as prisons for the confinement of debtors under process issued by the authority of the United States. If you shall be of opinion that no principle of the Federal Union requires us to extend our courtesy so far, we shall no longer witness the imprisonment of honest, but unfortunate debtors, with the sanction of this State.

Agriculture-Free Labor.

While the most careless observer can scarcely fail to perceive that political power in this country, resides chiefly with that portion of the people which is engaged in agriculturehe who studies the operation of our system will find in the influence of the agricultural classes, a guaranty of peace, good order and the stability of our institutions. It might therefore be expected, that the policy of our government would be such as to favor the first and most important department of national industry. But no such favor has been extended; at least to the agriculture which employs free-labor. Our workshops are chiefly in Europe; and yet the productions of the grain growing states, are virtually excluded from European markets by the operation of the corn-laws. Nor is this all. We import productions similar to those of our own soil; hemp from Russia, wine and silks from France, wool from Spain, and linen from Great Britain. The attention of the Legislature has been called to the subject of agriculture, less from the hope that direct relief could be afforded, than under a belief that our fellow-citizens engaged in its pursuits, might be assisted in gaining the attention of the Federal Government. Two plans for promoting agricultural improvement have engaged public attention. One contemmodel of that established in Berkshire county in Massachuplates the foundation of agricultural societies, upon the

setts. Associations of this kind have been heretofore formed

in this and many other states, and have been productive of very beneficial results. The other plan proposed the establishment of a Board of Agriculture; and was advocated by an eminent citizen, now deceased, who adorned his life and

enriched the State by studies exclusively practical, and eminently useful.

Against a state debt and a national debt.

But I confess that

We have many earnest admonitions against a State debt, and a national debt, from those to whom this generation is indebted for all its experience of either. the debt which it seems to me ought most carefully to be avoided, is that which results from an unrestricted importation of foreign luxuries, without an equivalent exportation of this State, alone, pay annually for foreign wines more of agricultural productions in exchange. The inhabitants and for foreign silks an amount not less than the original than the interest upon the cost of all its canals and railroads; cost of the Erie canal. Two provinces in Italy, with a population less than that of this State, and a climate represented as less genial to the inulberry and the silk worm, export silk of the value annually of twenty-five millions of dollars. I cannot believe that our country, and especially this State, will always be content to retain its tributary condition. I have observed with pleasure that the School District Li

Uniform laws on the subject of bankruptcy. The Legislature at its last session, communicated to our representatives the opinion that Congress was imperatively required to exercise its constitutional power of passing uniform laws on the subject of bankruptcy. I beg leave to refer you to the views of that interesting subject which were sub-brary now in the course of publication by the enterprising mitted to your predecessors, and to suggest a renewal of instructions during the present session of Congress.

Harpers contains several interesting and instructive treatises upon political economy and agriculture, which cannot be

without their just influence. The fruits of the seed thus scattered, are sure to be gathered. It is only to be regretted that this generation should not allow itself to anticipate them. Militia.

It was submitted to your predecessors, that while we are obliged by the laws of the United States, to preserve an extended and inconvenient organization of the militia, it would be just and consonant with the spirit of our institutions, that the taxes and burthens of the service should be reduced and equalized. Our fellow-citizens are enjoying the fruits of such a reform in the reduction of military fines, which was effected by a law passed at the last session.

act passed in 1839 has had a beneficial operation in preventing what was called colonization in wards and towns, and in securing a more satisfactory scrutiny into the qualifications of persons whose right to vote is questioned at the polls.— The act of 1840 regulating elections in the city of New York has been universally satisfactory in its provisions for dividing the wards into election districts, and reducing the period for elections to one day. Although the registry of voters under the law is alleged by many to be imperfect, and by others has been deemed altogether unjust and unnecessary, I am free to acknowledge my conviction that it has excluded many illegal votes; and I am not possessed of any satisfactory evidence, that its operation has deprived any citizen of his suffrage. Legislation concerning the elective franchise ought never to be governed by partisan views. The present season of repose from political contest is favorable to the adoption of measures which will be satisfactory to all. I recommend that the time allowed for holding the general election and for the canvass in the several towns be reduced to one day, and that to facilitate the proceedings and promote the convenience of voters, the towns and wards be divided into election districts proposed by some of our fellow-citizens to add a registry of voters in cities and villages, while others will desire its extension throughout the State. The principle involved in these propositions is very simple. If a law establishing a registry can be passed, which in its operation will exclude no legal voters, and if illegal voting can in no other way be effectually prevented, such a measure ought to be adopted. But no law ought to be passed which will cause unnecessary inconvenience to legal votes. Your better acquaintance with the exigencies of the case and with the sentiments of our fellow citizens will enable you to dispose of the subject as will be most conducive to the general welfare.

The rank and file of the militia are mustered twice in each year, once by regiments, and once by companies, for the purposes of inspection, review and martial exercise.These parades would, perhaps, be less inconvenient if they were ordered on consecutive days. Experience, however, has proved that they are entirely insufficient for instruction in military science. The number of days assigned for such duty will certainly not be increased. The law of Congress would be complied with by an annual muster for inspection by their respective inspectors. To those measures it will be on one day only; and for this inspection, a parade by companies would be more convenient than one by regiments.Uniformed volunteer companies might be safely relied upon for police, and the formation of such companies would be encouraged by abridging their term of service, and by furnishing them with arms from the State Arsenal under proper restrictions. This would not affect the law prescribing the drills of officers, non-commissioned officers and musicians; and it might be beneficial to extend to this class some or all of the privileges allowed to uniform companies. Regimental courts-martial are inconvenient and oppressive. If the commandant of each company were required to report all delinquencies to a justice of the peace, that officer could be charged with the duty of imposing and collecting the penalties prescribed by law.

Principle of the Society of Friends.

I recommend that it be made a felony for any unqualified person wilfully to vote, or cause his name to be registered; and that punishment no less severe be visited upon the unworthy citizen who shall aid or abet such crimes. He who gives and he who takes a bribe should not only be severly punished, but be for ever afterwards disfranchised. I recommend that the disfranchisement in such cases be made a part of the punishment incident to conviction in the same manner as the incompetency to give testimony is in convictions for perjury.

It is a well settled principle of the Society of Friends, that its members can neither conscientiously bear arms, nor contribute for military purposes. The Constitution defers to these scruples, by exempting those who entertain them from the performance of military duty; but it exacts a commutation, the avails of which the law directs shall be applied to It is too much forgotten that in establishing universal sufthe support of the militia system. To this commutation the frage, we have brought into operation a new element of gov Friends raise the same conscientions objections, and urge it ernment. It is the equal distribution of political power among in a manner sufficiently general and persevering to show all the citizens over whom power is to be exercised. Univerthat it is neither temporary nor capricious; while their known sal suffrage is the condition by which we secure universal liberality proves that the objection does not arise from any acquiescence of the laws. But it is a mighty element of unwillingness to bear an equal portion of the burthens of power, and requires the most perfect safeguards to secure its government Every year produces instances in which the conservative and rightful action. We must not only estabproperty of Friends is sacrificed or their persons imprisoned lish all needful safeguards, but we must constantly maintain for concience sake. In such cases, I have never refused to them, and after all we must look more to the moral elevation remit the penalties imposed. But such a practice, if it should of electors than to penal enactments to secure the purity of become general, would be an exercise of the pardoning pow-elections. No efforts which overlook any class enjoying the er to abrogate a part of the organic law of the State. I am elective franchise can be effectual to accomplish this great aware that the question has its difficulties. It is supposed object. that the grievance can only be removed by an amendment of the Constitution and there is not yet any sufficient evidence that the people are prepared to make this concession to the conscience of those who ask it in that inoffensive spirit which marks all their public actions. I assume to speak only my individual sentiments, when I say that I respect the princi-pelled us to divide it, we annex the following condensed ple out of which the difficulty arises. Believing that war is view of the statistics of New York furnished by the "N. Y. the chiefest of national calamities, I am quite willing to see Times." the principle of non-resistance obtain all the influence it is likely to acquire in this country, which, above all others, needs peace. For this reason, as well as because I regard concessions to conscience in matters not affecting public morals, as essential to religious liberty, I should cheerfully

consent to the amendment of the Constitution in this respect.

Elective franchise.

I have on all proper occasions directed the attention of the Legislature to the violations of the elective franchise. An

(CONCLUSION NEXT NUMBER.)

The great length of the Governor's Message having com

Statistics of the State of N. Y.

tics of the State of New York, we gather from the late mesThe following summary view of the resources and statissage of his Excellency the Governor to the Legislature. Albany Evening Journal.

Amount of revenue from Auction sales, to 30th Sept. last, $164,621 38.

Nett revenue from canals to 30th September last, $1,020,815 59.

40

STATISTICS OF NEW YORK.

Tolls received during the last season of navigation $1,775,747 57.

Productive capital of the School Fund, $2,033,807 95. Income from Literature Fund, $46,935 84.

Number of students in the different colleges in the State is 662.

Number of students in academies and grammar schools, 34,803.

Number of children attending Common Schools about 570,000.

Total number of children between 5 and 16 years of age in the State, about 600,000.

Number of School Districts in the State 11,000. District School Libraries, estimated number of volumes, 1,500,000.

1,050,000 00 2,500,000 CO

For the enlargement of the Erie canal..... 6.500,000 00
For the Black river canal....
For the Genesee Valley canal
For the Oneida river improvement..

Aggregate State debt.

50,000 00 .$15,004,746 33

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Leaving a clear surplus after paying the inter-
est on the debt for the enlargement of the
Erie canal, and the $400,000 annually
loaned to the Treasury, of..

Number of convicts in Auburn State Prison, on 30th The Commissioners of the Canal Fund estiSept. last, 667.

Excess of earnings over expenses in the above Prison, $6,919 37.

Number of convicts in the State Prison at Mount Pleasant

832.

Excess of earnings over expenses in the above Prisons, $6,044 14.

Whole number discharged the last year from both Prisons, by pardon, 54.

Number of convictions for murder for the last two years, 16. Of these, 9 have suffered the penalty of the law-4 pardoned or sentence commuted to confinement in State Prison-1 new trial granted by Court of Errors-and 2 awaiting execution.

Erie Canal.

Amount expended for enlargement prior to 1st January, 1940..

S69,171

$4,609,661

Amount expended for enlargement during the last year,....

2,500,000

Amount surplus revenues of canals applied to same purpose,..

Making the aggregate sum which on the 1st March next will then have been applied to this great work,.......

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$7,533,832

.$23,112,765
7,538,532

There will be required to finish enlargement the sum of.....

Erie Railroad.

.$15,573,934

Length of road 446 miles-45 miles completed-72 miles graded-91 miles under contract, and the company about closing contracts for 188 miles-the whole to be completed within the period of two years; cost of the road estimated at $9,000,000; amount expended is $1,300,000; the credit of the State granted to the company was $3,000,000.

Auburn and Rochester Railroad.

This road will be finished within the ensuing eighteen months, which will then make a continuous line of railroads

from Albany to Batavia, and leaving a distance of only 40 miles between the Hudson River and Lake Erie not traversed by railroad.

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$398,095 95

$570,000 00

$779,324 36

$379,211 01

$400,113 35

Aggregate number of citizens enrolled, 183,100-of whom 7,536 are cavalry and horse artillery. 9,082 artillery. 157,661 infantry, 5.669 riflemen, and 3,582 enrolled in independent companies.

The State owns 292 iron and 255 brass pieces of ordnance, with arms and equipments for a force of about 50,

000 men.

New counties in New Hampshire.-The Legislature of New Hampshire, at their late session, passed an act forming two new counties from a portion of the territory of the coun ty of Strafford. One of the new counties, consi-ting of the towns of Alton, Barnstead, Centre Harbor, Gilford, Gilmanton. Meredith, New Hampton, and Sandbornton, is named Belknap. The Superior Court is to be held once a year in the county, and the Court of Common I leas twice a year, at the town of Gilford. The other new county is named Carroll, and consists of the towns of Albany, Brookfield, Chatham, Conway, Eaton, Effingham, Freedom, Moultonborough, Sandwich, Tamworth, Tuftonborough, Ossipee, Wakefield, and Wolfborough. One term of the Superior Court and two of the Common Pleas are to be held annually at Ossipee. The Superior Court for Strafford is to be continued to be holden once a year at Dover, and the Common Pleas Courts alternately at Dover and Rochester.

The Hon. Samuel W. Bridgham, Mayor of the city, died at his residence, yesterday morning at 8 o'clock. Gen. Bridgham was elected Mayor, upon the organization of the city government, and has been annually re-elected without any serious opposition. He was one of the oldest members of the bar of this State, and throughout his long life maintained a character for integrity and probity, which secured as a magistrate, he filled a place which it will be difficult to to him the confidence of all who knew him. As a man and supply.—i'rovidence Jour. Dec. 6.

Cold Weather.

The Boston Journal of December 26, says-Yesterday, Christmas morning the thermometer was lower in this city by eight degrees than on any preceding day this winter. At 7, A. M., it stood at 44, and did not se during the day higher than 14; at 11, P. M. it was at 7, but during the night the sky became overcast, and this morning at sunrise the the mometer stood at 104, and at 10 A. M. at 16. The .......$1,412,961 62 least altitude in this city in December, 1889, was 93. and in

Debt of the General Fund, exclusive of what

is called the permanent loan to the Treasury from the canal revenues....... Debts for the lateral canals that are completed, including the recent loan for the Chemung Canal....

Debts contracted for unfinished works, viz;

December, 1838, 8; but in the latter year an unprecedented event took place, viz: on the 25th of November, the altitude 3,551,784 71 of the thermometer at sunrise, was only 5, or 2 degrees lower than on the coldest morning in December,

1841.]

REPORT OF THE PHILADELPHIA, WILMINGTON AND BALTIMORE R. R. CO. 41

Report of the Philadelphia, Wilmington and Baltimore R. R. Co.

Philadelphia, January 11th, 1841.

To the stockholders of the Philadelphia, Wilmington and Baltimore Railroad Company. The Board of Directors of the Philadelphia, Wilmington, and Baltimore Railroad Company, in compliance with the requisition of the acts of incorporation, submit the following anhual statement for the year 1840.

At your last meeting, you are aware that a difference of opinion existed between the Board of Directors and the Post-Master General, as to the sufficiency of compensation proposed for carrying the mails. A committee was appointed from among you to negotiate with the Post-Office Department, for the transmission of them between Philadelphia and Baltimore; that Committee subsequently concluded an arrangement in behalf of the company, with the PostMaster General, to continue from the first of April, 1840, until the expiration of one year, by which the company contracted to carry or the railroad, one mail to and from Baltimore, and the intermediate places, daily during the year, and a second mail daily, (Sundays excepted,) from the first of April to the tenth of December, 1840, for which service the company were to receive $30,600 per annum.

As had been anticipated, the unseasonable hour of midnight at which the train of cars carrying one of the mails, was required to leave Philadelphia, increased the expenses, and prevented many by the inconvenience and risk of night travel, from passing over the road, who otherwise would have availed themselves of its facilities. As had been desired by many of the stockholders, the experiment has been tested, and convenient as the frequent and speedy conveyance of the mails may be to the public, the Directors are convinced that the continuance of the arrangement on the same terms, beyond the time contracted, will be detrimental to the interests of the company; this subject will require early attention, as the agreement expires in April next, at which time a contract if possible should be concluded, whereby the present inconveniences suffered by the company, may be avoided. Allusion was made in the preceding annual report, of the probability of the bridge across the river Schuylkill at Gray's Ferry, being made toll free; since that time the Market street bridge at Philadelphia, has been freed, and an uninterrupted communication opened to the citizens with the country; this measure has rendered so essential to the interests of the southern district of that city, the freeing of the company's bridge across the Schuylkill, that the Directors are inclined to sacrifice, in part, the convenience of the company to the interest of the public, and forego the original intention at the time of building the bridge, of retaining the entire control and possession of the structure, as necessary to the perfect accommodation of the railroad travel; with this view, a proposition was made last June to the commissioners of the county of Philadelphia, to relinquish the right of charging tolls for an annual sum, which the Directors estimated as only sufficient to compensate for the yearly interest on the money expended for the site and construction of the bridge, and the expense of its future maintenance; the proposal was submitted to the County Board, and referred to a Committee, who still hold it under consideration. Notwithstanding the Market street bridge has been toll free during the greater portion of the last year, there has been but the slight difference of $174 03 between the amounts of tolls received from the company's bridge during the past and preceding year. The whole amount of tolls received the past year, being $5,340 97, and that of the year preceding being $5,515 00.

The possibility of the removal of the city railway from along Market street, in the city of Philadelphia, has prevented the directors from having erected a large and commodious depot in that city on the company's lot at the corner of Market and Eleventh street. The question of the continuance of the railway having been partially settled by a report from a joint committee of the city councils, and the altimate decision of that body in favor of its continuance, the company will be enabled to turn their attention to the VOL. IV-6

intended buildings which the location and extent of the ground (being 156 feet on Market street by 180 feet in depth) will permit, to be an improvement ornamental to the city, profitable to the revenue and a great accommodation to the company.

The roadway, excepting a small portion inundated by the late freshet, may be considered at present in better condition than when first opened for public use; the bed of the road, superstructure, and bridges being daily examined, and the slightest dilapidation immediately repaired, this system has been pursued from the commencement of operations, and to a strict adherence to the rule, may be ascribed in a great measure the successful conveyance of the great number of passengers without injury or delay. The engines, machinery, steamboats and cars are in good condition for active service, and will, with the ordinary care exercised by the superintendents, prevent the necessity of new purchases for a long time, unless there should be an extraordinary increase of travel.

In the last annual report, reference was made to a negotiation in England, of sale of the company's sterling bonds; since that time an arrangement has been made by the positive sale of the sterling bonds of the company, payable in 1850, to the United States Bank, by which means the company have been enabled to cancel the whole of its debts and engagements with that institution, and entirely to liquidate all responsibility on account of post notes, or other obligations issued by the Bank in its behalf. The Directors are pleased in being enabled to state that the United States Bank does not at present hold a share of the capital stock of this company, as collateral security for the performance of engagements. They have recently transferred every share of stock they owned or had the control of, in this company.

During the year, 198,189 persons have been regularly entered on the books of the company at its offices, for passages over the road; many others have passed who have not been returned on the waybills. The above return shows a decrease in the total amount compared with the return of the preceding year, which may be attributed to the division in part of the travel, with the morning steamboat route by the way of the Newcastle and Frenchtown Railroad, many preferring that line to the conveyance in cars, leaving Philadelphia by railway at midnight.

The total amount of receipts on the railway alone,* for the last twelve months are $427,973 28, viz : From passengers,......

Transportation of merchandise,.....
U. S. Mail, for 9 months and 18 days,...
Tolls at Newkirk Viaduct,..
Wharfage,
Rents,

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Sum total,

.$355,995 96

36,614 05

24,463 18

5,340 97

1,744 21

3,814 91

$427,973 23

In July last, the Directors were enabled from the revenuć of the company, after the payment of expenses and interest, to declare a semi-annual dividend of 34 per cent. of which you were duly apprized. They are again enabled to declare a semi-annual dividend of 3 per cent., which will be payable to the stockholders, or their legal representatives, on the 5th day of February, 1841.

In conclusion, the Directors are gratified in stating that during the past year no injury has occurred to any traveller on the road, and that since the commencement of operations, it is a remarkable fact, that though more than 600,000 passengers have traversed the line, that but in one instance has any injury happened, and that was caused by the impru dence of the sufferer attempting to get on the train of cars after they had started. Confident in the belief that the public are convinced that conveyance by railroads, when con

The receipts on the Newcastle and Frenchtown Railway during 1840, were for passengers $124,488 22, and for freights $49,075 47, being in all $173,563 69: which, added to the revenue of this company, for the same time, makes a sum total of receipts on the two lines of $601,536 97.

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