Below is the OCR text representation for this newspapers page.

li\r JOHN H. CHRISTY DEVOTED TO NEWS, POLITICS, AGRICULTURE, EDUCATION AND GENERAL PROGRESS. $2.00 per Annum, in advance. VOLUME XXI. ATHENS, GEORGIA, WEDNESDAY, JANY 27, 1875. NUMBER 43. THE SOUTHERN WATCHMAN PUBLISHED EVERY WEDNESDAY. i^ r corner of llrotut and Walt Streetu, (up-ntair TERMS. T^VO DOLLARS PER ANNUM, INVARIABLY IN ADVANCE. fall and winter stock of Millinery and fancy goods. MRS. T. A. ADAMS A fcNOIJNCES to the public that she is now rccoiv- • * ini? a lar^c and varied stock of Ladies’ Bonnet?, Fin ADVERTISING. \Jrertifement? will belnscrted :it ONE D0LI.4H INI) FIFTY rENTS por square for the first inser iiot, an<i SEVENTY-FIVE CENTS per .square ssehooniinuance. f>»r uny f iino under one month longer periods, a liberal deiluction will bo made. ^0^ A liberal io luction on yearly advertisements. LIMAL ADVERTISING . Sheriff’* sales, por levy of 10 line? $500 •• inortja!;e sales. 00 days 5.DO Sale*. 40 lays, by Administrator*, Executor?, or Guardian* 0.50 Citations of Administration or Guardianship 1.00 N\>tii'« t * Debtors and Creditors 5.00 Rule* SiA. per ? piarc. each insertion 1.50 Uaretosell ileal Estate 4.00 Citationf »r «lisinii»ion of Administrator 5.00 Guardi b.?.b *f„ ascertain the number of square? bituary, countthe words—on' en lines. A11 fractions arc rasn? ,quar i nn advertMie- hutidrcd beinp ountod a? full professional anb Easiness Carbs. noBB, ERWIX X COBB. U ATrORNEVS AT LAW. ATIIEXS, GEORGIA. Offle, in the Deuprmj Building. Dee2l A A. EDGE, ROOT, SHOE AND HARNESS MAKER, Watkinsvillk, Ga. B 1 id to bis care. ANKRUPTCV.—Samuel I\ Thurmond, Attorney.at-Law. Athens. 0fir*on Broad street,over thr tturc of Barry A S Wiil *ive special attention to case? in Uaukruptcy. io, I j the collection of a I7W.LVKD & OKU, lli Wholesale and Retail Dealer?, and COMMISSION MERCHANTS, Dupree Hall. Broad St, Athen We arc now prepared to * bale, tod will advance cash G a » Cotto when desired. 0et2S. l ENGLISH Sc CLASSICAL SCHOOL, For Roy?, cor. Wray and Lumpkin ?t? , apS—Sm LEE M. LYLE, Pi TTVMORY speek, L.1 GA. jAWYER, ATHENS A* Solicitor General of Western Circuit, will att« the Court? of Clarke, Walton. Gwinnett, Hall, Rati Jackson, Habersham, Franklin, Rabun and W h *oi pirc attention to collecting and other claiu.i thoie counties. March IV, TPDWAKI) It. HARDEN. I d (Late Judge U. S. Court? Nebr and now Judge of lirooks C< Attorney at Law, july23 ly Quitman, Bro> t?ka and Utah, unty Court) County, O' 1 JOBS S. HSTRS. MADISON BELL. TASTES ,t BELL, Attorneys at Law, ill GAINESVILLE. GA. .ft'WILL practice in the counties composing the W#jtcrn Circuit, and Dawson and Forsyth countie* of the Blue ltidge Circuit. They will also practice in the Sapreiae Court of Georgia, and in t ie United State* Court at Atlanta. may 14 P A)YD & SILMAN, ATTORNEYS AT LAW, Will practice in the counti- OHS J. KLOYD, Covington, Ga. mar4 Jofferpo J.'- O’KELLEY’S PHOTOGRAPH GALLERY. Over William?’Shoo store, Broad street, Athens Georgia. sep3. Hat?^ Lacc?, Ribbon?, Trimmings, Ac., which sbe if offering at low pricos. Call,cxnmine and be convinced, t door to Hank of the University, A tb«n*. $cp20 E. A. WILLIAMSON, Practical Watchmaker and Jeweler. A T Dr. King’? Drug Store, Broad Street, will cute ull work entrusted to him in the best and at reasonable prices. JiTdt' Terms positively CASH. exo- style New Finn andNew Goods. GRIFFETH & CRANE A UK now opening at the old stand of Lampkin A Cnnc, No. V Broad Street, a fino stock of STAPLE, DRY ROODS, GROCERIES, PROVISIONS ON ALL KINDS, Hats, Shoes, Crockery, TABLE AND POCKET CUTLERY, In fart, cty Stor and the Fcbl 'cry thing usually kept in a first-class Van —which wo propose to sollat the lowest cast exchange for Country Produce. >octfully solicit the patronage of our friends ublic generally. GRIFFETH A CRANE. DR. WHITTIER: N;. 617 St. Charloa Street, St Louis, Ha, rSriuV. 10 .™ ''**** ■* U> B.rriM., bloc. - r »btck rt.ulu fro a l7wvS..™ l“pr.a.M., .lib anpbrblUl,,! ..eoo.t i/] . i ». f" B . 1 t b, lb. BUI. Of HU. ,,rf hu *■—» o.ubu.b«. i. Nci. I : r ? “4 relUf. Ella. . nUnu of .oterol moilcl oolloiro,, ,nd b.rlo, ibo cib.rl.Dco ■ Iro din. *“ UwM HU POIUOU > I* enable MARRIAGE GUIDE, r«?n)ar book which should be read by ererr- ..‘J r * r*» Pr ertotemrlaUni mar. Lv 6 i! C |*?I d0 •'l.thcnt It. It contains the cream of zperk-ace; also i i kuroye ana America. Sent uml The Best Spool Cotton, I^OR 1 O. N. T I be u to the wise si dozen Spool* FACTURIN julyl—lv f tb ng Machine, is “ CLARK’S hilly that made for and boaring or Manufacturing Co. A word sufficient. ^09^ Price, 75c. pet office of the SINGER MANU G. H. HOPE. Agent. Bishop’s Corner, Athens, Ga. Wagon Yard in Athens. r pH K ?iih?criberbns fitted upand opened a 0afo,cu l fortable and commodioup Wagon Yard, on Ri street, in theneighhorhiiod of the Upper Bridge, where CORN. I ODDER,and ail other necessary supplies can be purchase J on reasonable terms. Charge? moderate. The highest market price paid for Country Produce, an i Bank hill* roedved in exchange for Goods, duly? if WILEY F. HOOD. THE GREAT REMEDY -FOR- T H. HUGGINS, 1/ • holosalo and Rotail Dealer in DRY GOODS, GROCERIES, HARDWARE, .te. Foblft Broad Street, Athens, Ga. TOilS II. CHRISTY, U Pl.in or. l Fancy BOOK AND JOB PRINTER, Broad St., Athens, Ga. Ofice corner Broad aud Wall streets, over the store Jsme* I). Pittard. tf Burns, Scalds, Coras, Poison Oak, Stines of insets and Cutaneous Inflammations Generally. DISCOVERED BY MRS. L. E. BISH, JUG TAVERN, WALTON CO., GA., TAMES L LYLE, ^ Attorsky at Law, D«52 JIM TKIXSVII.LE, GA. JOHN M. MATTHEWS. U Attornky at Law, Danielsviile.G a. Prompt attention w I’.! bo given to Any business on- •uited to his care. MarcbM. TAMES l. long, M. I). tl SURGEON, ACCOUCHEUR A PHYSICIAN, (Ojjic* at Mr. Thom,is Sheaf Store,) Uo >d Hone District, Walton county, Ga. Uffcn his professional services to the citizens of the surrounding country. aug27 K ELIAS, Attorney at Law, • FRANKLIN. N. 0. Practices in all the Courts of Western North Caro lina, and in the Federal Courts. Claims collected in *11 part? of the State. aplfi—ly T IVERY, Feed and Sale Stable, ATHENS, GA. G.4.V.V £ REAVES, Proprietor*. ^.Will be found at their old stand, rear Frank- bo House building, Thomas street. Keep alway on hand good Turn-outs and careful drivers. Stock a t .. ared for when entrusted to our caro. Stock on band for sale at all times. dec25—tf M W. HIDES, • ATTORNEY AT LAW, U.S. Claim Agent and Notary Public, .. Gai.hbsvillk, Ga. Jw* Ofice on Wilson street, below King A Bro’s. Tabruary ly, 1673. C >lirL » K. P. DOWELL PEEI’LES ic HOWELL, ATTORNEYS AT LAW, r-k«. an ^ Kimball House, Atlanta. Ga. IJaACTICK in the State and Federal Courts, and j- ,V tC Q d r °g»»larly all thoCourts in Atlanta, includ- t * 8u P^eme Court of the State, and will argue Urm| B * M,n ^ r ‘®^ ^ or parties, on reaiouable practice in tho Courts of tho counties con NfStUS or accessible to Atlanta by Railroad, sepli pAVILIOS HOTEL, T i• ,, ri _ CHARLESTON, S. C. #tB| ls 'IKsT-CLASS Hotel is situated in tho very •tom* part of the city, and all who ^ill find every convenience aud luxury that ® be procured. Board, per day, $3.00. ti A “ ,LT01I » Supt. Mrs. L. II. Butterfield, —_ D «» ti Proprxelrtnt. J? S. ADAMS, M. D., 0ft* ^ 0R 0*O», AccocruEUR AND Phthiciah. I* u ce Rt > r®*»dence, Mountain District, Walton co« M - i ^ ,TI professional services to the ■——the surrounding country* aug20—ly S c ffiL* U JAS entered against the World, at the lute State Fair at Macon, and isdaily effecting THE MOST i indis ’ should be VNDERFUL CURDS, and ha? becom msablo household necessity. No famil itbout it ! I f. after trial, a fjtuily is willing to live without this eparntion lor Ton Dollars, agents arc authorized to fund the money. * FOR SALE, In Athens—At Dr Win Kiug’s Drug Store and at the Stnro of Judge J D l’ittard. In Wntkiusville—At the Store of Booth JL Durham. In Monroe—At Dr Galloway's Drug Store. At Princeton—By Mr llus.'-elL Address ail orders to WILEY II. BUSH, novlU Jug Tavern, Walton co., Ga. ANTI-PY R0TIC, OR, Grreat Fire-Killer. NO HUMEUG! CERTAIN,SUIIE, RELIABLE. B Y a recent discovery, public a safe, certain and sure cure for are enabled to offer tb public Burns, Scalds, Srald-lli nd, Slings by Insects, Tetter, KlitKlVorn), Piles, Sore Eyes and Old Sores ol long standing. This preparation has been thoroughly tested—in burns always insures almost instant relief—has never failed in a single instance. We have in onr possession numbers of certificates owing tho WONDERFUL CURES effected hy this preparation, which never fails. Every Family should bave a Bottle of it READY FOR USE! ’ one knows how soon a member of the family may netd It. It is a Georgia production and perfectly free from mineral poison. 'il*^L-Foraaloin Athens at tho Drug Stores of Dr. R. .Smith .t Co.and I)r. Win. King,Jr. Orders should he addressed to JARUETT A MULKEY, AugS Walton’s Ford, Ga FRESH OYSTERS 1KD FISH. 1 WILL nerve fine, fresh fish and oysters, at all hours, at iny restaurant on Jackaon street, and will p a good supply for sale. Every thing neat and clean. FRANCIS LOUIS, (Democrat,) NovIS—3t. Propriator. ATHENS MARBLE AHDGRIHITE YARD. A. 11. Robertson D ealer in? M Monuments, Head Stones, CradleTombs, Marhloand Granite Box Tombs. Also, Vascsand Marble Tops for Furniture. Persons desiring work of this kind will do well to examine my designs before purchasing elsewhere. Prices moderate. Work shop adjoining old cemetery, joly22—ly hosiers in * or,i * n »»*Domestic HARDWARE, No. fi,Broad street, Athens, Ga. 11 ADAIR, D. D. S. 0«* . Gaimesville, Ga. _^ ,0 utheast corner Public Square. S Ct WBB8, VIiaI. Itaai. . , "uclesaleand Retail Dealer in FtU 4 DRY OOODS, GROCERIES, Ac. ~ No. n Broad Street, Athene, Ga. P L AIN and Fancy Job Printing, At the Southern Watchman Office. f^POOL SILK! 'j ... THK best and CHEAPEST! G it that man *■ ifaetw J* aviI,ISArjsaiI wjtinaiinsn la Singer Manufacturing Company, U| Hachfou 1 * or 0ie on hinds of Sew- ■jffiSMsaawaaae ~—a. H. noPH, Agent, Athtni, Ga. B«k’u*R^ 0 ! k WR BKLY WITNESS, firing New., »U| ..... n 1 **’ Bleturee and Lira Editorial., at ia iLl 0 ' 1 * 1 * P‘ id ' baa reaehad 75,000 eireu- “ r *« 7»ar«. Send for fraa aamplo copy. HORSES & MOLES. cpiIE under.igned hare e.tabliehed, in addition to tbeir Livery, a regular SALE STABLE, And will, from Ibis date, keep on band, at all time., a full .upply of HORSES & MUIES. Those in want e Stock can be .upplied at i"Reasonable Figures. Give u.'a call. Athens. Nov. 4—tf GANN A REAVES. Brackets! Brackets! BRACKETS) Wall Poeket., Book-Shelre*, Clock B^Shcl'vej/IVi let-CaBes Mateh-Safes, Hanging Bas kets, do—the largest and handsomest assortment ever brought to Athena. Fur sale^l nov25 BURKE’S BOOK STORE. IF YOU WANT TO SEE Fitt© Mules. That will do yon good to look opon, go to.tho old place. no»4—St norl [ & REAVES. Governor’s Message. Fxectttive Department of Georgia, ) Atlanta, Ga., January 13, 1875. $ To the General Assembly : In the discharge of the daty imposed upon mo tiy the Constitntion, I hare the honor to lay before tbo General Assembly the informa tion deemed proper in reference to the condi tion of tho Commonwealth, and to recommend to their consideartion such measures as are deemed necessary and expedient. FINANCIAL. . Most prominont among tho subjects claiming the attention of tbe General Assembly is the financial condition of tbe State. Tbe balanco in the Treasury on tho 1st day of January, 1874. was 8922,55().25. and tho amount receir- cd during tbe last fiscal year was $1,895,116.- 86 ; making tbe aggregate amount charged against the Treasurer last year, $2,817,723.11. Tbo disbursements for the same period amounted to $1,714,564 23, which, deducted from the amount received, leaves a balanco of $1.005,128.88on hand January 1, 1875. The particular sources from which the receipts wero derived, and the various purposes for which the disbursements were made, are stated in the Comptroller-General's report, and need not bo specially set forth in this communication. Tho Legislature, at tbe ses sion of 1873. made an appropriation to pay tho claim of Russell Sage. This claim amount ed to $423,125, and no means having been specially provided for its payment, it was •atisfied out of tho ordinary revenues which came into tho Treasury during that year. This created a deficiency last year which could not he supplied otherwise than by re sorting to tho very doubtful oxpediont of short temporary loans. As an evidence of the im proved condition of tho public crodit, it may here ho stated, howover, that uo difficulty was fouud in raising the required amount, at a reasonable rato of interest. The steady growth in the wealth of the State, as shown by the Comptroller General’s report, cannot fail to ho very gratifying to the pooplo. The re ported increase in the value of taxable prop erty for tho year 1874, is more than $30,000,- 000 over and above tho value roportod for the previous year. This increase was pro duced, in part, hy the repeal of tho law ex empting a certain amount of property from taxation. Hut after making full allowance for tbo repeal of this exemption, it appoars that the. net increaso in tho value of taxable property returned was $12,700,376. I may bore be allowed to note for commendation tho thoroughness and accuracy exhibited by tho Comptroller-General in preparing tho different tables contained in this report. I unite with tho Comptroller-General in recom mending that his office ho relioved of tbe duty of consolidating and taking care of tbo agri cultural returns. Tho reports ef tax receiv ers to his offico, in my judgment, furnish the most economical and reliable channels for the collection of agricultural statistics. Tho law should he so amended, however, as to secure with reasonable certainty all the information desired, and to this end Tax Receivers should be obliged, as a part of their official duty, to collect and roturn tho required statistics. Other amendments of tho tax laws are recora mended by the Comptroller-General, which aro respectfully roferred to tho General As sembly for consideration. According to tho statement presented hy tho Treasurer, the funded debt of the State, not yet matured amounted, on the first day of January, 1875, to $8,105,500. Tho principal and interest due thereon the present year amounts to $670,385, Included in this is the first instalment of$100,- 100 of tho 8 per cent, bonds issued under tho authority of the act approved February 19, 1873. The Treasurer states that, in addition to the foregoing, thoro is also oatstanding, $269,500, past due bonds, which, together with the unpaid interest thereon, amounts to $323,400. The report contains a full and par ticular descriptive list of those last mention ed bonds. It is suggested hy the Treasurer that a large amount of the same was paid hy a former agent of tho State, and not returned to tho Treasury for cancellation. It should here ho stated, that tho failure upon the part of this agent to make such return has produced serious inconveuieucc, and probably loss to the Treasury.! Having loason to believe that Messrs. Hen ry Clews ic Co., the agent just referred to, wero converting to their own use paid up bonds of tbo State, and desiring to relievo the Treasury from all complications growing out ol their transactions as agent, I directed tho Attorney-General to proceed to New York and obtain, if possible, a settlement of their account with the State. Upon his return this officer reported that ho found it impossi bio to effect a satisfactory settlement of the account; that Mr. Clews imsitively refused to permit any examination of his hook and vouch ore, unless tbe account which ho bad thereto foro rendered against the State wero first paid. It hardly ueod he stated that such an unreasonable condition could not bo complied with. The cbiet objection to tho account rendered was. that many of its items were not supported hy proper vouchers. Tho exami nation of these vouchors, if produced, would necessarily have involved an inspection of the books and papers of tbe agent. A settlement having been thus refused, the Attorney-Gen era! requested to be furnished with informa tion in reference to tbe bonds which bad gone into possession of Messrs. Clews & Co., and which had Dot been returned by them to the Treasury. This request was also refused is rumored that this firm has recently been adjudged bankrupt, and it is now hoped that satisfactory information in reference to tbe State securities in its possession may be ob tained at no distant day. By reference to the report of tbe Bond Committee, made to the Legislature at tho Summer session of 1872.lt will be seen that, in addition to tbe bonds de clared void by tbe act approved August 23d 1872, Henry Clews & Co. also bold $800,000 of currency bonds. Issued under tbe act of Au gust, 1870. There is reasou to believe mat, notwithstanding tbe action of tbe Legislature declaring these bonds invalid, this agent has transferred, or in some other way converted tbe same to his own use. To prevent tbe In jury to tbe public interest likely to result from any unauthorized or unlawfol negotia tion of our securities, I would suggest that all tbe bonds recognized to be legal and binding on tbe State, issued during tbe late adminis tration, bo withdrawn from circulation, and that other bonds of similar ameuDt of proper tenor and effect be issued iu lieu thereof. This action would, in my judgment, pe bens ficial to the public credit, and wonld effectu ally protect tbe Treasury against imposition and frand. There being no reason to believe that tbe railway companies, whose p has been taken possession of by tbe State for non-payment of inteaest, will be able to make any arrangement to resume poeeession of tbeir property, I respectfully suggest thepropn ety of authoring tbe issue of an amount State bonds sufficient to redeem tbe bonds tbe companies upon which the State ft liable. These companies are insolvent, and tbe bold ers of tbeir endorsed bonds will have to look to tbe State alone for payment. It is not pro bable, therefore, that tbe bondholders wonld hesitate to exchange, upon reasonable terms, the securities held by them for State bonds. In settling tbe details of each an arrangement, a material benefit might be secured for tbe State without doing any injustice whatever tbe holders of tbe bonds. Believing that tbe interest of tbe Commonwealth would be sub served thereby, I respectfully recommend tbe ndoption of a measure giving effect to tbe foregoing suggestions. The follow ing estimate of tbe Treasurer^ showing tbe probable receipts and disburse ments at tbe Treasury, for tbe fiscal year end ing December'S!,T874, with such alterations , in my judgment, tbe public interest de^ Bonds, is rospectiully submitted : RECEIPTS. Cash balance in Treasury De cember 31, 1874 From general tax of I875.._. From general tax of 1874 Rental of W. ft A.R. R Insurance tax 1875 Railroad tax 1875 Express Company tax 1875... Dirideadi Taxes of formeryears unpaid. Hire of convicts From all other sources niSBUr.SXVEETS. Civil Establishment $100,000.00 Legislative pay-roll 100,000.00 Lunatic Asylum 115,400.00 Pay of Chaplain and Trustees 2,000.00 Deaf and Dumb Asylum 13,500.00 Academy for the blind 11,000.00 University of Georgia 8,000.00 Printing fund 20,000.P0 Contingent fund 20,000.00 Public buildings 20,000.00 Executive Department _ 10,000.00 SuperintendentPuhlic Works 2,000.00 Clark Wild Land Offioe 1,200.00 "accino Agent 300.00 Educational fund 150,000.00 School Comm’r and Clerk.... 3,700.00 Supremo Court Reports 3,600.00 Solicitor Gcnoral cost in Su preme Court Old debts W. ft A. R. R Public debtand interest due iu 1875 £670,333.00 Principal Keeper Penitentia* ry 2,000.00 Agricultural Department.... 10,000,00 Geological Survey 10,000.00 All Special appropr : ations.... 200,000.00-$!,400,583.00 Balance in Treasury Janoary • 1S75 $1,403,128.88 900,004.00 300,0(0.00 300,000.00 20,000.00 10,000.00 500.00 200,000 00 10,000.00 10.000.00 30,090.00 $2,685,620.88 2,000.00 25,000.00 $1,086,045.88 In tbo foiegoing table I have made no esti mate for the Atlanta University. Fer reasons briefly given in another part of this communi cation, eo appropriation ought, iu my judg ment, to be made for that institution. MACON AND BRUNSWICK RAILROAD. Accompanying this communication is a state ment made up from the monthly reports of tbe Receiver of tbo Macon and Brunswick Rail road, showing tbe receipts and disbursements on account of the property in bis bands, since tbe same was taken possession of in behalf of tbo State. For reasons set forth in my last annual message to tbe General Assembly, it was found necessary, on taking possession of the road, to continue to receive as money tbe change bills heretofore issued by tbe company for convenience in its business. All tbo net earnings of tbo road since its soizure have been applied in tbe redemption of these bills. As fast as redeemed, tbe bills have beon deposit ed in tbe State Treasury, where they remain subject to examination by the General Assem bly. Somo time before tbe road passed inte tbo bands of the State, tbo company executed deed conveying considerable property to cer tain trustees, to be used in redeeming the bills, and this property is now in the possession of tbe Recoiver, and when sold, tbe proceeds thereof should be used to reimburse tbo Stato for tbe amount paid out in their redemption. Tbe amount of these bills still in circulation, according to tbe best information of tho Re ceiver, is $16,749 50. Having beon led to believe that an arrangement might bo made, whereby tho company would be enabled to pay the accrued interest on its bends endorsed by tiio State, and resume possession of tbe road, and entertaining doubts whether tbe property could be disposed of for its value, I deferred any action looking to a sale of tbe same, until tbe month of September last. Having then become satisfied that tbe company would not pay this past due interest, and believing that it would probably be for the interest of tbe State to divest tbe company of its title to tbe jroperty, an order was issued directing the ■teceiver to advertise a sale of tbe road and its equipments on tbe first Tnesday in Decem ber last. Before tbe day of sale arrived, bow- evor, I felt it to be my duty, after an examina tion of the records of tbe company, to with draw tbe property from tbe market, and to submit tbo questiou of tbo proper disposition to be made of tbe same to the General Assem bly. In explanation of this action on my part, the following statement is respectfully submit ted : The Legislature, at tho adjourned ses sion of 1872. adopted a joint resolution declar ing “ that the State’s guaranty placed on tho bonds of tho Macon and Brunswick Railroad Company is binding on the State." At tbe time of tbe adoption of this resolution, tbe Legislature bad before it what appearod to bo sufficient evidence of tbe validity and regu larity of tbe endorsements, and especially of tho endorsements made under tbe act approv ed December 3, 1866. These endorsements received further recognition by tbo Legisla ture in tbe annual appropriation act of 1874 and no doubt ns to tbe validity of tbe last named endorsements arose in my own mind, □util tbe recent examination of tbo company’s records referred to above. A brief review of the history of tbe company just hero may aid the General Assembly in solving tbe grave questions here presented. In tbo President’s report, submitted to a meeting of the stock holders of tbe company, held tbe first day of February, 1866, that officer used tbe following lauguage: “ From tbo necessity of keeping the accounts for tbe last four years in tbe depreciated cur rency of tbe Confederate States, tbe balance sheets of tho Treasurer present an exaggerated statement of tbe cost of tbe road, through its various items of expenditure. Assuming that we are able to liquidate tbe bonds and out standing liabilities during the coming year with tbe assets in band, which I think can be done, or nearly so, having thus do debts, the amount of stock paid in should give tbe cost of the road. This will simplify tbe matter very much. Tbe stock list gives not quite $800,000 in round numbers. We have, then, for this sum of $800,000, a Irst-olass road fifty miles long, equipped and running, together with seventy miles additional ready for tbe iron rails, clear of incumbrance or debt of any description. Deducting $200,OfiO, as cost of the seventy miles of grading, we have $12,000 per mile as the average cost of tbe fifty miles of running road—an extremely low figure ior (this) description of road." From the forego ing statement of tbe President of tbe oompauy, it appears that, so early as February, 1866, as much as fifty miles of the road was fully com pleted and in running order, at a cost of $12, 000 per mile, and. that in addition thereto seventy-five miles bad been graded at a coat of $200,000, and was ready for the superstruc ture, and that tbe property of the company was “ clear of incumbrance or debt of any de scription." So far, it appears that tbe road has been constructed by individual enterprise alone. The act of 1866 already referred to, granted tho aid of the State for tbe completion of the read on the following terms: “ That is •ay, tbe Governor should place tbe endorse ments of the State on the bonds of the com pany to be issued, to the amount of $10,000 per mile for the portion of the read then al ready completed, and tbe like amount per mile for every additional ten miles, as the same was dorsements were made, the Governor should “ be satisfied that as much of the road as the said endorsements shall be applied for " bad been really finished and equipped, and that the road was free from every incumbrance that might endanger tbe security of the State. On the day after the approval of the act just re ferred to, a series of resolutions explanator; of its provisions was provided that' the bonds of the company, to be endorsed by tbe State, shonid not exceed $1,000,000 nntil an amount of capital equal to tbe endorsement was " Iona fide subscribed and paid into said company." bonds to tbo amount of $1,000,000, there should not be any further endorsement, unless an equal amount of capital should bo subscrib ed in good faith and paid into tbe eompany. After tbe grant of tbe aid of the State, it does not appear that any action was taken by the company extending the road until tbe 25th day of Juno, 1868. On that day an agreement, a copy of which is herewith transmitted, was ostensibly entered into by George G. Hnil and Sidney G. Smith, of New York, with tbe com pany, whereby they agreed to furnish material and construct tbe unfinished portion of the road to the city of Brunswick. In considera tion thereof, tbe company agreed to pay tbe said Hull 6c Miller as follows: $1,500,000 of the first mortgago bonds of tbe compauy, en dorsed by the Stato, $1,000,000 of 7 per cont. second mortgage bonds of tbe company, and $1,500,000 of preferred capital stock of tbe company, which should be entitled to receive dividends at tbe rato of 8 per cent, por annum, before any dividend whatever should be paid to tho common stock. It was further agreed that all of tbo said securities should at onco be issued by the company, and placed in tbe bands of Dabney, Morgan & Co., bankers, of New York, as trusteos, who should, upon tbe completion of each section of ton miles of road, obtain the endorsement of tbe State upon tbe first mortgago bonds of the company, and should deliver the securities placed in tbeir bands as aforesaid to such persons as Messrs. Hull 6c Miller might direct, upon tbo estimato of tbe Chief Engineer of the company. The company also agrcod to obtain tbe endorse ment of tbe Stato upon the first mortgage bonds as aforesaid, upon tbe requisition of said trustees, and “to provide that a majority of tbe Board of Directors should each bo a bolder of two hundred shares of tho preferred stock.” It would thus be seen that it was tbe intention of the parties of this agreement to Dsfcr, in effect, tbe entire property of tho Company, and tbo control thereof, to tbe con tractors, and practically to dsnv to tbo com mon stockholders all voice in the management of tbe affairs of the company. It is proper here to add that there is reason to believe that Messrs. Hull 6c Miller were only nominal par ties, and that the real contractors wero per sons known only in tbo records of the company the New York Associates.” These “ As sociates," it seems, employed Messrs. Hull 6c Miller to contract tbo road according to tbe conditions of said contract, and paid them therefor at the rate of $12,250 per mile, this being tbe actual cost of that portion of the road which was built after the grant of tbe aid of tbo State. It uo wbero appears, so far as I have been able to ascertain, that any amount whatever was subscribed and paid into tbo capital stock of tbe company, after the passage of tbe act authorizing the State’s endorsement of its bonds. The fundamental condition up on which tbe additional endorsements wore to be made, after tbe State's guaranty was placed upon tbe first $1,000,000 of bonds, was, there fore, disregarded, aud these endorsements were given, so far as I can learn, without au thority, and in direct violation of tbe law. It also appears that *• tbe New York Associates” irtually acted the double part of contracting with themselves, and that in effect they occu pied tbe positions of both employees and con tractors at tbe same time. In view of those facts, tbo question naturally arises whothor tbe agreement betweeu tbo company and tbe contractors was not itself illegal and void. I transmit herewith copies of a letter aud esti mate of tbe President of tbe company, showing that tbo actual cost of completing tho road and putting it in running order was $12,250 per milo. This estimate ombracos the entire cost of the road, including graduation, trestling, bridgos, piling, statiou bouses, sido tracks, superstructure, irou, and all that was neces sary to the completion of tbe work. Tbo let- ter'of tbe President shows not only the cost ef tbe road as above stated, but also that “ tbo New York Associates" were tbe real contrac tors, and that Messrs. Hull 6c Miller were iu fact employed by them. Tbe Legislature, at its session in 1871, raised a committee, com monly known as tbe “ Bond Committee,” whose duty it was made to investigate and re port upon all tbe bonds and eudorsemouts of tbe State, during the administration of Gov. Bullock. Tbo committee, iu pursuance of its duty, mado an examination of tbe endorse ments placed upon the bonds of tbo Macon 6c Brunswick Railroad Company after tbo adop tion of our present Constitution. Upon refer ence to tho report of that committee touching said last mentioned bonds, it appears that the only witnesses who were examined as to the cost of tbe road wero President Hazlohurst aud Messrs. J. P. Giraud Foster, Morris K. Jessup, and D. Willis James, understood to bo tbreo of “ tho New York Associates.” Those wit nesses testified that, " Tbo Macon and Bruns wick Railroad cost, for building and equip ment, twenty thousand dollars por mile, fully ten thousand dollars per milo of which were paid in and invested in good faith by tho stock holders, independent of and outside of (the) State's ondorseraout. Tbe compauy received one million nine hundred and fifty tbousaud dollars of bonds under tho act of 1866, and six hundred thousand dollars of bonds under tbo act of 1870. Tbe amount of money paid in and invested in good faith by the stockholders will cover tbe first endorsement fully, but not tbo second." Tbe Legislature, acting upon this testimony as reported by tbe Bond Committeo, adopted tbe resolution to wbioh reference has already been made, recognizing tbe validity of said en dorsements. It cannot reasonably be suppos ed tbateitbor the committee or tbe Legislature were advised of tbe cost of tbe road, as set forth of tho company, which it may becomo neces sary to repoal. It may also become necessary for tho State to continuo to bold tho road for a longor period than two yoara to which time it is now limited by law. In that event, it is hoped that tbo act iutposiug this limitation will bo modified, and that tbe Governor will bo authorized to koep possession of tbe road until tbe same can be disposed of to tbo best advantage, both to tbe Stato aud tbe company. NORTH AND SOUTH RAILROAD. Tb e North aDd South Railroad Company hav ing failed to pay tbo interest on its bonds en dorsed by the Stato, I ordered all tbo property of tho same to bn seized and takon possession of on tho 23d day of April, 1874, and appointed Edward A. Flewcllcn, Superintendent of Public Works, as agont of tbo State, to manage and control the same. Tho law under which the seizure was made requires tbo Governor to hold the property at least six months before offering it for sale, and tbo seizure baviugboen mado the latter part of April, no sale could thorctore, have been mado earlier thau Novem her. Tbe road has not been sold for the rea son that it was not believed that anything ap proaching its value could be obtained in the present condition of tbo monoy market. It is hoped, howover, that this state of things will not continuo long, and that somo arrangement may be made by which the property can be dis posed of without great loss to the public treas ury. The road sustained serious damage the past year from freshots, and tho repairs ren dered ne.-essary in consequence thereof made it impracticable for tbe agont to apply any part of tho earnings to the payment of the in terest on tho endorsed bonds. It is not prob- ablo that tho future earnings of tho road will bo sufficient to meet this interest. It will be necessary, therefore, for tbo Legislature, at tho present session, to make provision for its payment. MEMPHIS BRANCH RAILROAD. The Memphis Branch Railroad Compauy having completed and equipped tbe first sec tion of five miles of its road, as required by the act entitling tlio company to the aid of tbo State, applied for tho endorsement of its bond in May last. Aftor causing a thourough exam ination of tho affairs of tbe company to bo made, I placed tho State's guaranty on its bonds to tho amount of $34,000, this being ono half tho value aud cost of tho section complet ed and equipped. Tbo section of tho road was finished, and tho application for tho State’s endorsement was made, before the passage of the aet approved February 25,1874, repealiug tho provisions of the several railroad charters theretofore granted, which gave State aid to such enterprises. In my judgment, tbe appli cation came within the saving operation of that clause of said last named act. which provides that any company which had already acquired a vested right to the aid of tho State shonid not be affected by the act. It may bo added that the commissioners who examined tho road reported that more than $100,000 had beon in good faith invested in said company by private individuals, and that satisfactory evidence was exhibited, showing that there was no lien or incumbrance upon tho property of tho compa ny which ceuld endanger tho prior lion of the Stato. STATE AID. Reflection has satisfied fno that additional legislation is required to check the evils likely to flow from tbo unwise policy of granting file aid of the State to works of internal improve ment. Experience has shown that it is almost impossible to so guard tbe public interest as to provent injury to the same under these grants, Tho larger portion of our financial troubles of lato years may bo traced directly to this mis chievous policy. Tho act approved February 22,1874, repealing all existing railway ebartors so far as the samo provided for State aid. ex cept in cases where tho right to the same had already become vested. What would amount, under tho law, to a vested right, is a mooted questiou. It has already been claimed that tbo more acceptance of the charter by the company, without more, would havo tho legal effect of vosting tins right to tho aid therein granted. If this claim should bo allowed by tho Courts, the object sought to bo accomplish ed by the act would bo entirely defeated. The Codo, howover, as will be seen by reference to section 1862, authorizes the withdrawal by the State of the franchises granted in certain cases. Indeed, the franchises granted to rail way companies, since the enactment of this part of the Codo, w ere granted and accepted subject to tho right of withdrawal, unless otherwise expressly provided. I would there fore, respectfully recommend that in all cases where the same can bo done, the franchises to those railroad companies whoso charters make provision for Stato aid, bo withdrawn by legis lative enactment, unless thoy shall, within prescribed time, renounce respectively all right to claim or receive tho aid granted iu thoir several charters. STATE UNIVERSITY. The report of tho Board of Trustees of the Stato University shows that the receipts from all sources, during tho collogiato year ending July 28,1371, amounted to $40,011 84. The University is roportod to bo in a prosperous condition, and tho devotion of the students to their studies during tbe last collogiato year, is highly cominondod. The number of uow students received the present year has ex ceeded anything in the experience of tho past, I invite attention to the report of the Board of Visitors, who attended the examination of the Senior Class, prior to the last commencement. This report is very foil, and the thoroughness with which the board discharged its duties re fleets great credit upon its members. Attention is called by tho board to a defect in the law in tbe letter of the President accompanying 'proscribing its duties. The law requires no this communication. The cost of tbe equip ment of the road cannot account for the dis crepancy between the amount of the cost of tho road as stated in the President's letter and es timate, and the cost of the same as set forth in tbo testimony of himself and the three “New York Associates" before tbe Bond Committee. And os to tho amount claimed to have been paid in by the stockholders, it is not to bo supposed that the committee bad examined the stock book and minutes of the company. These books, now in the hands of tbe Receiver, have been searched in vain for evidence that any stock whatever was actually subscribed and paid in by individuals, after the grant of aid by tbe State. It will not be expected that I should pause to comment upon these and other facts of equal significance disclosed by tbe examination made into tbe affairs of tbo company. I feel it to be my duty, however, to recommend that a thorough investigation bo made, to tbe end that it may be ascertained whether tbe law under which tbe company pro cured the State’s endorsement has been com plied with or not. The public interest requires that this shall b« done. If it should appear that the eompany has complied with the taw, and has thus entitled itself to the State's en dorsement, justice to the holders of its en dorsed bonds demads that the obligation should be acknowledged at once. If. on the other hand, it should be shown that the com pany has not placed itself in a position to claim said endorsement, and that the same has been completed and put in running order; upon illegally obtained, and that the present holders condition, however, that before any each eo- of tbe bonds are properly chargeable with no- j . ~ ^ ' " ifng, f In other words, alter the endorsements of the islaturo, in regard to the Interest upon ■■■ tice of the wrong-doing, then duty to the peo pie already overburdened by debt and taxa tion, requires that this shonid be so declared with equal promptitude. At the last session of the General Assembly I suggested that doubt existed as to the validity of the State’s endorse ment upon the $600,000 of bends of the com pany issued undsr the aet of 1870. I now re- tfully advise that tbe investigation be ex- more tbau that the board shall “ attend the University examination proceeding the annnal commencement, and report to the Governor tbe character of snch examination." Tho powers given to the board are not broad enough to give value to its reports. Authority should ho given to exteud its investigations to every mat ter affecting tho interest of tbe University, is thus only that the report of the visitors can bo made a channel through which tbe General Assembly may receive trustworthy informa tion touching tho condition and wants of the University. I recommend that tho law be amended as here indicated. I further suggest that inquiry be made into the propriety of pro viding for a thorough re-organization of the University. As at present constitnted, the Board of Trustees consists of thirty-five mem bers—a larger numbor, as I am advised, than composes a similar organization In this or any other country. The body is too large for effi ciency; besides, its members are appointed for life, and thus, in some measure, are lefc with out that sense of responsibility which expert onco proves is necessary to secure diligence and faithfuluess in places of trust. In my judgment, the officers of tbe present Trustees should bo madejfor tbe appointment’of a new Board, to consist of not more than nine mem bers. The appointment should be made in the manner which would most certainly secure men of enlarged views, aud of general fitness for the position. Tbo full term of office should be divided isto three classes of three each, to be appointed respectively for two, four and six years. Thus, every two years there would be three vacancies in the Board This provis ion wonld prevent the making of sudden, radi cal changes in the management of tbe Univer sity, and, at the same time, would secure sense of responsibility upon the part of the Trustees. The Board ought to be held direct ly responsible to the General Assembly, and that end, thoy should be required to mako out and submit full annual reports of their pro company by the State since tbe adoption of the present Constitntion. Attention is also called to the appropriation act of the last Leg- tended to all tbe endorsements granted said ceedings, and of tbe condition of the Univer sity. The changes just suggested would iu my opinion greatly advance tbe cause of Univer sity edueatiou in the State. Tbe institution would draw around it tho sympathy and sup port of all the best men of tbe State, and the representatives of tho people would not hesi tate to make all uoedful appropriations for its support and advancement. The people of the State desire to see tbeir University grow and expand, and they fully assent to the truth of the maxim, that the greatness of a State depends upon, and is proportionate to, the higher edu cation of its people. ATLANTA UNIVERSITY. By an act approved March 6,1874, the sum of $8,000 was annually approprated to the At lanta University, upon condition that the in stitution should admit for instruction as many colored pupils from oach county in tho State, freo of charge, for tuition, as thoro are or may be members of the House of Representatives from each county, to be nominated by said members respectively, so long as said appro priation continues. The Governor is inhibit ed from drawing his warrant for the said sum, until tbo Trustees of said institution shall havo submitted a plan for tbe expenditure of the same to a Board of Commissioners, consis ting of tbe Chancellor of tbo State University and two members of the Faculty of the same, and until such plan shall havo been approved by them each year io writing, and filed in the Executive office. The condition upon which a warrant was to be given for the appropria tion, having been complied with, the amount for tho past year was paid over to the Presi dent of tbe University. The report of the committee, whose duty it was to visit tho in stitution, will be found accompanying this communication. COMMON SCHOOLS. The report of the School Commissioner sliows that thero is a school organization in every county in the State, and that public schools have beon in actual oporatiou in one hundred and twenty-five counties the past year. A growing interest in the schools is manifested, and there has been a marked change in public opinion in favor of tbe pres ent system. Tbo Commissioner directs atten tion to the fact that there are $350,000 of school beads now in the bands of the Secre tary of Stato, and claims that tho interest on those bonds from October 13, 1870, to October , 1874, amounting to $84,000. is a debt due from the State to his department; and he asks that the Legislature take somo action recog nizing the validity of the claim. Tbe next amennt of tho school fund, collec ted from all sources, from tbe adoption of the present Constitution down to December 1. 1873, was $489,722 42 The sums collected since the last mentioned date amount to $186,- 183 90, and the disbursements to $169,071 84. Tho whole amount of poll tax assessed for the year 1874, and which, by act of February 28, 1874, is retained in the counties, was $199,- 550. Of this amount the Comptroller General estimates that tbe sum of $133,000 has been collected. I concur in tbe opinion expressed by the Commissioner, that the act of the last Goneral Assembly, providing for the payment of the school debt of 1871, ought to bo repeal ed. I also suggest that tbe law prescribing tbo mode in which tho school fund shall be paid over to County School Commissioners be amended as is recommended in the report.— Such paymeuts are at present required to be made at the State Treasury. By tho amend ment recommended, the funds due to each county would be paid over directly by tho Tax Collector to the County School Commissioner. By this arrangement the collections by the County School Commissioners would bo much simplified, and tbe cost of transmitting the money to and from tho State Treasury would lie saved. I concur fully in tho opinion expressed by tbe Commissioner to the effect that tho act of the last General Assembly, giving an aunual donation of $8,000 to the Atlanta University should be repealed. Tho colored as well as the white poople of tbe Statu should bo educat ed, and to this end the tax-payers are w'l’.ing to contribute to the oxteot of their ability. It cannot reasonably be expectod, however, that tbe class upon which the buiden of taxation chiefly falls will cousont to support au institu tion wherein tho mischievous doetriuo of serial equality is pructically inculcated. The wishes and feelings of those upon whom rests tho burthen of supporting tho govornmont should bo consulted in this a3 well as all othor mat ters affecting the public interest. By refer ence to tbe report of the Board of Visitors, who attended tbo annual examination at this institution, it will also bo seen tiiat somo sys tem of theology is taught tboreiu. Adopting tho very pertinent inquiry of tho Board, Whoso theology is it that is taught t With out waiting for a reply to this question, it may safely bo assumed that the teachings upon this subject are sectarian in their character. Tbe Constitution cf tbe State inhibits the granting of a donation or gratuity by tbe Legislature to any sectarian corporation or association. It is hardly necessary to add that the spirit, if not tho letter, of this constitutional provision would be violated by continuing tbe appro priation under consideration to tbis institution. Jut, recognizing tbo duty restiug upou the public to provide for the education of the col ored pcoplo, I respectfully submit the views expressed by tbe State School Commissioner oh tbis subject, with the recommendation that they be favorably considered by tbe General Assembly. DEPARTMENT OF AGRICULTURE. I transmit herewith the first annual report of the Commissioner of Agriculture. This de partment was created by the act aproved Feb ruary 20,1874, but the Commissioner was not appointed until the 26th day of August last. As soon as appointed, however, he ontored en ergetically upon the discharge of bis duties, and has already succeeded in organizing his department and placing it in thorough work ing order. The materials necessary for tbe hand-book required by tbe act are being col lected, and a specimen, showing the manner in which tbis valuable work is being prepared will soon be ready for delivery. A laboratory has been fitted up at the Capitol aud furnish ed with chemical apparatus suitable for con ducting analyses of soils and minerals. Tbe rules prescribed for conducting these anal yses, it is confidently believed, will be effectu al in securing results of great practical beoefit to our agricultural interest. An accurate knowledge ef its condition and wants must necessarily be the basis of all improvement in our agriculture. Recognizing tbis truth, tbe Commissioner has arranged a system for tbo collection ef reliable statistical informa tion. He has already gathered a mass of val uable facta, showing tbe present condition of our agricultural labor system, the amount of home supplies prodneed, aud tbe general con duct, and management of our husbandry. The Legislature, iu establishing this depart ment, took a step in tbe right direction, and in my judgment, the future material prosper ity of the State will depend, in a large meas ure, upon the manner in which it may be fos tered and sustained. Judging from wbat has been already achieved, I think it may be safe ly predicted that, under the able management of the Commissioner, this department will soon entitle itself to the confidence and per manent support of tbe people. GEOLOGICAL SURVEY. The office ot State Geologist, created by an act approved February 27,1874. has been con ferred upon Dr. George Little, who hold, at tho time of bis appointment, a professorship in the Uuiverslty of the State of Mississippi This officer, after organizing his department, entered at onco upon the discharge of his du ties. Taking the field late in tbe Fall, after a hurried preparation, he has traversod nearly the whole of Northwestern Georgia boyond ike Chattahoochee, and has already made a largo collection of specimens, showing the geologi cal and mineratogical character of a number of the counties embraced in that section. The information contained in his report, herewith