Hn ADDEESS WILLIAM B. WASHBURN, LEGISLATURE OF MASSACHUSETTS, January 2, 1873, BOSTON" : WRIGHT & POTTER, STATE PRINTERS, 19 PROVINCE STREET. u . 1873. SEXATE No. 1. ADDRESS OF Jpis (EmIImtg WILLIAM B. WASHBURN, TO THE TWO BRANCHES OF THE LEGISLATURE OF MASSACHUSETTS, JAXUABY 2, 1873. BOSTON: WRIGHT & POTTER, STATE PRINTERS, 19 PROVINCE STREET. 1873. ADDRESS. Gentlemen of the Senate and of the House of Representatives : In accordance with the will of the people, we have assembled here to assume the duties of the executive and legislative branches of the govern- ment of the Commonwealth for the current year. As we stand upon the threshold of this new epoch, with gratitude in our hearts for the abundant mercies of the past, let us look to Him, the source of all power, for wisdom and courage to meet the responsibilities of the future, and dedicate our- selves hi all sincerity to resolute and vigilant faithfulness in the tasks set for our performance. SUMMARY OF FUrASTCE. "Wliile disaster has seriously, though temporarily, crippled and embarrassed many of the industrial and commercial interests of the Commonwealth, 4 GOVERNOR'S ADDRESS. [Jan. * her public finances exhibit gratifying evidence of thrift and security. Under the wise and provident policy of the State, creating ample sinking funds for the liquidation of every maturing instalment of the public debt, more than three millions of the funded liabilities have been extinguished dur- ing the past year, without recourse to ordinary revenue, taxation or temporary loans. The amount thus retired included upwards of two and a half millions of the Massachusetts 5-20 War Fund Loan not absolutely maturing till 1886, but which the surplus accumulation of the - sinking fund established for its payment rendered it advisable to anticipate. With an addition of more than a million to the Troy and Greenfield Railroad and Hoosac Tunnel Loan, by a further issue of scrip on that account, there still remains a net reduction of the funded debt of the Commonwealth amount- ing to nearly two millions of dollars. The appended statement exhibits the transactions of the year in this connection : Funded debt, January 1, 1872, . $29,629,364 00 Amounts liquidated during the year : 1873.] SENATE No. 1. 5 Massachusetts "War Fund loan, . . $2,551,500 00 Union Fund loan, 1861, . . . 363,700 00 State Almshouse loan, . . . 100,000 00 Loan of 1861 (fund- ing debt), . . 100,000 00 $3,115,200 00 Balance remaining . . . $26,514,164 00 Added during the year on account of the Troy and Greenfield Rail- road and Hoosac Tunnel loan, . 1,178,540 00 Total, $27,692,704 00 With these changes the existing debt, all of which is funded, may be thus classified : Railroad loans, $13,303,016 00 War loans, . . 13,519,688 00 Ordinary loans, . 870,000 00 Funded debt, . $27,692,704 00 6 GOVERNORS ADDRESS. [Jan. The only unfunded liabilities remaining con- sist of small sums, for the payment of which the treasury is amply provided. "With the extinguishment in 1872 of the last in- stalment of the loan of 1861 for funding the pub- lic debt, there remain now no funded liabilities for the payment of which the State has not provided a sinking fund ; and any deficit likely to occur in one or two of these funds can be easily supplied, either by transfer of surplus accumulations, or from other available resources. During the present year $425,000 more of the funded debt will reach maturity, viz. : of the Union Fund Loan, $300,000; State House Enlargement Loan, $65,000; and Almshouse Loan, $60,000, all of which will be paid from their several sinking funds. The Finances of 1873. Accepting the results of the past year as a basis of judgment for the present, the ordinary reve- nues of the State may be esti- mated at $2,300,000 00 Adding to this sum the unexpend- ed cash on the same account, will 1873.] SENATE Xo. 1. 7 put the treasury in possession of something like . . . 2,900,000 00 The ordinary expenses of the year, estimated upon present informa- tion, can scarcely be less than . $4,420,000 00 With the material reduction of ordinary revenues under the repealing legislation of 1872, the amount necessary to be raised by a state tax may not be less than two millions of dollars, exclusive of any provision for temporary emergencies or special grants by the present legislature. THE TUSTOJL AST) ITS CCXXXECTIOtfS. The opening of the Hoosac Tunnel from the eastern portal to the central shaft, which event, as you are already aware, took place on the twelfth ultimo, with scarcely an appreciable difference in the working lines from the two faces, must have demonstrated the entire practicability of this great enterprise to the most sceptical mind. The unprecedented flow of water from the head- ing west of the central shaft, obliged the contrac- tors to discontinue work at that point some six months ago. The completion of the connection eastward affords natural drainage, and they will 8 GOVERNOR'S ADDRESS. [Jan. soon be relieved from delay or expense on that account. In a few months the tunnel will be fin- ished to the shaft from the eastern portal, and thenceforward the work will be confined to two faces. Between the shaft and the western portal there now remains about 3,125 feet of rock to pen- etrate, and through this the contractors, who have prosecuted their labors during the season with commendable diligence, expect to have an opening some time before the end of the present year. In order to present the tunnel in a completed state at the expiration of the contract, it will be neces- sary to push forward every branch of the work with the utmost energy. Under chapter 47, Resolves of 1872, there has been advanced to the Messrs. Shanly since the adjournment of the last legislature, the sum of $100,000 from the reserve fund, to secure the pay- ment of which a mortgage of their tools and ma- chinery was taken. There has also, under the second clause of said Resolve, been issued to them certificates of indebtedness to the amount of $200,- 000, payable without interest on the completion and acceptance of the tunnel. The Commonwealth should immediately prepare itself to reap every legitimate benefit to which it 1873.] SENATE No. 1. 9 will be entitled upon the consummation of this vast undertaking. By means of the tunnel our chief city may not only be brought into shorter and more direct communication with the great lakes of the West, but through this channel Chica- go will be brought nearer to the tide-water of our own State than it now is to New York city. In this view of the matter, the interests at stake are of such consequence that they cannot properly be remitted to a careless or secondary consideration. While the tunnel proper has been well con- structed, the road thereto from Greenfield, like all others of which the engineer and contractor are one and the same person, is wholly unfit for any considerable traffic. Built for a temporary pur- pose, and in the cheapest possible manner, the ne- cessities of the immediate future require an im- provement of the grade at many points, a straight- ening of the location at others, a protection of the embankments, an enlargement and a strengthening of the bridges and culverts, and a general renewal of the road-bed and superstructure. Furthermore, a considerable expenditure must soon be made upon the Fitchburg and the "Vermont and Massa- chusetts roads if we would avail ourselves of the opportunities to be afforded by the tunnel. In the 10 GOVERNOR'S ADDRESS. [Jan. location of the Yermont and Massachusetts chang- es are required to shorten the distance, improve the grade, and lessen the number of bridges, while the road-bed and superstructure must be in great part renewed, and a double track laid for the whole or a portion of its length. "Without com- menting on the general management of the Fitch- burg road, it must be said that its equipment is not equal to the necessities of a greatly increased business; its facilities need to be multiplied at least fourfold, by the construction of several first- class grain elevators, and the adoption of various approved appliances for receiving and handling freight. "What shall be done to secure the requisite im- provements on these several roads, so that the Commonwealth may obtain the business naturally coming to the seaboard by way of the tunnel, is one of the most important questions now waiting legislative answer. Properly managed, this line from Boston to the State's western frontier will be