"'l'2
BY Tom b. BRATTON.
" :,V0L.;39,
GOVERNOR’S MESSAGE.
Tothr lt'jnornhh. [hr Srrwlaa and Mtmlers of Ihe
J,m “ V R'pr'tenlalioc, of the General Assembly :
™wl^^ r r"* Ula ‘° yoa> H ll citizens, oo Ilia an.
nndof which you have can.
veqcd «l illb seal of Government. An nil wise and
henificem I rovidenco has greatly Moaned our country
pf w"f !°J“ r h “ j- 1 The dm °S
r.nTiee h g ?" ° f P“'‘l»nM-lho WeslingS-of
wilnoeeed within her limits ) N
Simlund f ■" y in ? u< ’ D « s » f iiitornal strife been
nfmilled Ip paralyze her prosperity. All Ihe arcnl
■ Bn °H r h ' l,o . N " ,l “'; "«• "«l"d addiUonal
,nd hcr '"•'""tion.or government acnoirod
re wed strength. Agriculture, commerce, trade,
r “' "'5 ”" d soißnccs . !■■»« heen oml-
Z v ;?''"'' “" d C “ oh b »»" distinguished by
home fresh discovery to facilitate its progress.
Another Presidential election has been held
O.tco more the people of this vest country, through
the agency of the ballot Sox, have designated the
citizen, who, for the ensuing four years, is to till Ihe
highest office known to the Consliloliun. The cheer
(ill submission of the minority, in the result of liio
contest, and Iho magnanimity of the majority in iho
enjoyment of their triumph, afford gratifying evidence •
Inal our civil institutions are not, at this day, cn-I
dangcred from the viulenoi nf party spirit. I'ho 1
voice of Iho majority is honored by implicit obo-!
dlooco, whilst Iho rights of the minority are proieclcd i
by the conslituiion and laws. Tho officer thus 1
chosen is lh p rcprcsenlnlivo of tbo whole people, and
js bound by bis oath and the obligations o( patriot
lam, to do “equal and exact justice (null mrn of
whatever persuasion, religious or political.” Rich
successive test of (lie clcciivc foulurc of our govern
moot Jiao boon followed by renewed confidence in
the whole system, and so it will doubtless continue!
Jo be, so long as the exercise of the right of suffrage !
ho characlctizod by inlclligcnco ond patriotism. In '
nil parts of tho civilized world the people arc bt-com- 1
»ng convinced, not only of Hie practicability, but of!
the wisdom ond justice of n government found, d on 1
iho principles of a representative Democracy. Even 1
the firm prejudices of-monarchiNts, ore beginning to I
yield to the powerful evidence furnished by our rx-
poricnco. 7 lie mission of iho present gnnrrahon is 1
lo secure liio fuluio triumph of Hie principles in nlli.
cr countries, by ininsniming to prosier ily, unimpair- '
cd, our model system of fln»eH.num, r T’i..« 11.:, ,n I
bo done, under a kind Providence, I have a steadfast I
belief. {
Al no period since the ncknowlcdgi monl of mir
independence ns n N ilion, li .l vc the people of this
Union enjoyed a higher slate of prosperity, nr enter
lamed a brighter hope of the future. Al peace with
all the world, ard Trued from internal strife between
the several members of the conledere cy, by (lie ready
acquiescence of each in the recent Congressional ad
justment of the controversies incident to the inslitu.
lion of domestic slavery ami the acquisition of new
territory ; when has this Union been more firm ond
perfect 7 Wo may well exchange congraluMtona
on this auspicious picture, ns I run sure wo should
mingle our (hanks to Almighty God for Mis bounlc'
oua goodness and guardian care.
Two statesmen, long eminent in the councils of|
the Nation, have been called Irom amongst us within |
d brief period. Mknrv Ci.ay and Daniei. Wkbntkr
wil] be known no more except in history ; but thal
immortal record will make their good works familiar
to posterity. The tolling of bulls the sable ensign
and the solemn obsequies have manifested lire Na
tion's rcgiol. Whilst thus lamenting the loss of
those patriots, wo should bo consoled by the rI
lection, that they had been spired (0 fill • f, .n
measure of time allotted to man. According to (ho
beautiful figure of one of them, presented in u dis
course at New York, not many months since
measuring timo by ideas and events—they hud bo
come modern Molhusclahs in the extent of what they
)ihd soon of the world, and done for their country
Who could expect more 7 and who ia not satisfied
with the extent of their labors 7
The receipts lo Iho Treasury during the lain fiscnl
year, exclusive of ilia proceeds of lorn*, n mounted lu
iho gross sum o( 34,561.885 50, which nnmunl lid
ded lo (ho bilanco m (ho Trcisury cm tlio I*l of
December, 1851, (leaving out iho (invaluable means
which only serve to contuse the amount.) makes the
• *■! ordinary moans of the Treasury for the year,
$0,104 ( 424 71. The payments, exclusive nf the can
cellation of State slock—llio appropriations lo the
North Branch canal and the Portage railroad imoun
led to the sum of $1,123,262 19, being 8376 Gl)2 12
less than Iho receipts. Of this excess, however, the
sum of $304,024 96 was applied to Iho complei ion o!
Iho Western reservoir—lo re I lying the north track
of the Columbia railroad, and lo other exlraordinarv
repairs on the public wurks. loaving_ n n actual uv.i il
able bal lnro in lho Treasury on iho lo' d• y >-f D ■ •
oembor, 1852, of $671 037 72 But, n mu*l bo <>b
eorved in order lo a correct ccunpn h'-mnon ol the
relative condition of iho Treasury, (hut the unpaid
bil «ncos of appropriations for 1651. amounted to
$621,338 95. whilst those of 1852 only roach the sum
of $529,801 14, showing a in favor of the
latter year of near 81U0 009.
The receipts to the Treasury for the coming year
mxy bo safely os limited «l $1 626,500 Taxes from
;o,| and personal citato and tolls on the public works
are the only sources of revenue in which there can
he any considerable variation from this estimate.
The former of these I have estimated at 81.400.000,
■nd Iho latter st $850,000. To the above estimate*
must be added Hid sum of 8071,037 72. the b.lance
rrmtir.i >g in the Treasury on the laid iy uf Decem
ber, 1852, and thus swell ng lbs whole men ns ol the
Treasury for 1653, lo the sum of $5,297,527 72.
The ordinary expenditures for llio same period, in
cluding everything except new work, may be csti
mated at $4,028,670, which wilt leave a balance in
iho Treasury on the Ist day of December, 185.1. of
$1 271,208. In this expenditure is included $300,-
000 (or the sinking fund, which, added to tho fore
going bilance, makes the sum of $1,571,208; and do
ducting from this, 867 1.037 72, tho amount In the
Treasury on Iho Ist of December last, wo shall find
-rwoflMn •imlimlil* loth* nan.
menlofdebtsand the completion of tbo North Branch
oanyl and the Portage railroad. The result of these
estimates demonstrate most clearly to my mind that
when tho Improvements just named shall have been
completed, should all new schemes of expenditure bo
sternly resisted, at they shall be, so far as 1 am con
corned, the Treasury will bo in a condition to cancel
•I least one million of dollars of tho public debt an
nually.
In accordance with the provisions of an set of the
Legislature, approved the 2d day of April, 1852, I
proceeded lo borrow, on«lho faith of iho Common
wealth, olfht hundred and fifty thousand dollars for
the compfation of tho North Branch canal. Tho
maxlrrum rale of Interest named In the law is 6 per
coni The loan was awarded to Messrs. Harris Sc.
Ca, for 0. H. Flitter, of Philadelphia, Duncan, Shcr-
Win 6c Co., Now York, and George Peabody, of
London, on tits 12th day of Juno last, as follown:
$200,000 at an Interest oMJ por cool, and $650,000
at an Interest of 5 per coni., and tho bonda of (ho
Qtata lasted .accordingly, In tho sums of uno tlious
snd dollars eaoh, free of taxation, with coupons at.
ttohfjdj ro-imbursabla in thirty years after Iholr date.
' ’ ithp 100th section of an act to provide fur tho or*
dlnsry expenses of the government and other purpo*
■os, approved the 4th day of May. 1652, declares,'that
the Qovernor and State Treasurer bo, and they are
hereby authorlxed and empowered lo borrow, on tho
faith of the Commonwealth, during tho year 1852,
at euoh times, and in such amounts, as they may
deem best for llio Interest of the Stale, ony sum not
pxdeediQg five millions of dollars, and Issue the bonds
of (he Commonwealth for tho some, bearing a rale of
iOtqreet not exceeding five por centum pot annum,
payable somi'annually, which bonds shell not bo
subject to taxation for Uny purpose whatever, and I
■hall bo ro-Imburstblb In twenty five years from their |
dato-t and tho sum so borrowed shall bo applied to
Iho payment of tho 6. par cent, loans, that are payable
at the option of tho Commonwealth, after (ho year
and 1647 ; to the cancellation of the oortlllCatei
ssued lodomsstio creditors, ami tha oulel.mling and
aoc.aimsd inlorost corlilioalos, in Iho mannst hois.
ahoh ho I'n °r ! I 0 , U ' 0 ot «»id (ivo milliuna l
five nor PP . 'l d '!! ,ll “ tilmguiahment of any of Ilia 1
fiva per coot, houds of Iho Slalu now oulsr.ndiug,'
and for no oilier purpose,’ " i
In oompliuDco with ll,i, and 11.0 ollisr .actions of
AnHil” 'i 1 " 11 "*, 10 euhjecl, Iho Stale Treasurer.
Audilor General, and my.olf, proeoeded lo malm iho
loan offizo millions. The dolails of our acllon will
”". nd ,l ’° 810l P Treasurer's roporl. Tho 0 per j
coni, bonds, tho domestic creditor certificates, and
certificated for outstanding interest, havo bocn can
colled as fuel ns presented, and the money is now in
the Treasury to pay ofTHio entire balance. On opo
mng the bidsinn the 7th of September, we discovered
that only $3,410,000 had bcoa bid for. and owing, as
wo thoughi.to a slight misunderstanding between our 1
Government and that of Great Drllain on (ho Fish
«ry question winch seemed lo disturb the monetary
world for a short season, the bids were not so favor
i able as wo hod anticipated; wo. nevertheless, felt
bound by tho terms of nur public notice, to accept!
ho amount offered. Tho remainder of (ho five m l ,
,ono lUB *•««" uuccj i„ uio Cancellation or the o per ■
cent, bonds, hy the exchange for (hem of no w bonds, |
.bearing a liko interest, for which exchange the;
.Commonwealth has received a cosh premium of 5
I per cent, winch m a mure advantageous loon for the |
Slate than werothe bids opened on the 7th of Sent,
ember. 1 I
Lil , rr. r T ,am " rcceivodon '•>'» loan amounted to
SiJ4,jJ4 00, which sum, in accordance with Hie
terms of Iho low, has been paid over to the Commis
sioners of tho Sinking Fund, to bo applied to tho
cancellation of Hie public debt. In addition (o the
premiums, there will be annually saved lo the Treas.
ury, hy Hie reduction in the rate of inlrrrst on Hie
renewed debt, tho sum of $30,4.36 62. which for
twenty five years, the period which tho loan lins to
run, wiil amount to a saving lo the Treasury 0f5510,-
915 50. 7 his result Is not quite equal In my expec
tations; but when it is remembered, that all this has
been accomplished without tho exaction of o dollar i
from Hie people, wc have much reason lo be gratified
wiHi Hie issue. I
| In our rffjrls to effect a conv'r-ion of the fi\o per
rent, loans into ne w bonds tic iring 4 per rent inter
est free of taxation, with coupons attached, rntnbur
sable in 30 yr .rs, undvr the Idfiih section of Hi<- h, w
already rc'i-rrcd to, after consultation with n nmnbrr
wo deemed it our duly to send an agent to Europe,
where most ol the five per cent, bonis arc In Id, to
promote, ns far as possible, the desired end. Ai-cnr
dingly, we assigned 10 Gol. J. MTahen. of Philndrl
| phi 1, the performance «f (his duly. This gentleman
I immediately repaired to London, tint! mib«rquentlv to
Pd ns, mid devoted himself, for some weeks, to the
objects of his mission with untiring real and energy
Wln Ist it is true that wo eon cl a 1 ni for his efforts j
the credit of no definite result, wo are nevertheless I
decidedly of opinion, that his mission has born of
great service to the Slate. Mis minute knowledge
of (tie whole history of tin financial difficulties nf
Pennsylvania, their cause and the remedies npplhd,
enabled him lo remove many unfounded prejudices
which were cherished in (he money circles of (hat
country, against the integrity and Inmost purposes of
the dp'ccmlants of Penn. Mr. M’C'uln n thinks lie
could have effected a conversion of 11 luge portion
of the loan nl 4J per cent, hut (ho oflierrs of-the
government had no power under the law (u allow a
greater interest llmi 4 per cent.
I r« sped fully recommend passage of ■ law
similar to that of the 4th of May 18.V3, uullinri/ing
the ofiicera ofllio government to cancel the nld five
P «r bonds by -f -* *»"•*, (V„ a n f
taxation, wlih coupons u tin died, bem ing a l<•» r*ie
of interest or bonds bearing fi per cent, on which no
loss than 5j per cent, of u rash premium shall be
poid. The Stale can, in this wii y, I mnfi
dcntly, save n large amount of money, and finally
cancel nil her present bonds,and bo clear of the
trouble and r tponso of keeping linn books and l ran s
’erring her slocks. 'Phis cnnsidcrn'iun alone is n
most desirable end, and would go far towards coin
ponsu'tng lor all the labors and trouble of renew i ng
the bunds (or periods of five, lea, and twenty five
year*.
Tim financial operations of llio year, including llie
North Branch loun of $850,0110, t nm greatly grali
fil'd In discover, has left !■ uI litllo additional burthen
upon flic Treasury. 'l* he I filer rut on t his loon v\ ill
.imnunl to $4 1,500, nnnmil'y. Deducting from this
llio sum o' $120,436 02. the yearly saving secured by
Iho cancel! 11 ion o I our C per cent. debt*, uud wo bn vo
a balance ol intension the Nor'li Branch hmn to
(irovidc fur of $21,003 38. The receipts 1o the Sink
mg fund friim orniinry non me*, on 'o the Hn«i* of
ibe li-cul year, amounted in $221,433 74, which
when added to (bo premiums received on the five
mill ion In i n mill tho t.K from «»»•» P.nn.vlvvnli
r ,1 1 out com piny . in ak o n lot 1 1 of $377,378 40, thn
in I ere* l on which, nl 5 per cent, will mo lie llio annual
h iving nl $18,864 32, and lliu«, together wiih llio in.
(crest saved by ibo five million lonn, ns above slated,
Mill entirely cxti'imM iho whole amount of <ho inter
e.l on llie North Branch loan, lens $3,104 4G.
It is proper lo romaik, In this connection, that a
considerable portion o( llio Stale stock purchased for
the Sinking I’und, wa s not delivered at,the Stale
I*re laur y nnli! after llie clove of the financial year,
mid hence this investment is not slated in llio report
of the Auditor l>onerul. -
The receipts from llio public works for (ho fiscal t
year nl 1852, us appears in the report of tho Canal v
(‘ummi i(miners, n mounted lo the sum of $1.836,81 1 <
40. and the ordinary cxpenHi'tirns for llio same pc- >
nod, lo the sum of 81.033,341 33, leaving n net rev.
enue lo the Stale ofstiti7.47o 13. This result, when i
compared with that uf llio lust »nd proceeding year. I
presents » somewhat flattering picture. It must bo i
rcmumbctcd, linwever, that wo hnvo hod a most
fortunate season. Tho general prosperity of the I
Statu has (ended to swell tho amount of tonnage, i
whilst no interruption of business or injury la the i
works have resulted from fire or floods. It might, t
perhaps, in view ol those things, and (ho energetic 1
competition which lias grown up around us, bo un* <
salh t« anlicinalQ.anv increase ,J - ; - ;
any year hereafter, until (ha North Branch canal I
and the Portage railroad aimll have been completed, t
Pressed on ull aides by rivals of vast power, (ho i
necessity for no economical, energetic and skilful i
management of tho public works is marie manifest, t
The utmost vigilance lo prevent interruptions by i
breaks, the greatest skill lo regulate tho rale of
tolls, nod other details, so ns to soctiro an increased i
amount of tonnage, and the prompt abolition of every <
nnncccsaary office or oilier cause of expenditure, ia i
demondod by llio exigencies which surround ns. i
Tho law passed at (ho last session, forbidding llio i
creation of debts by thu officers on (be public works i
requiring llio payment of cash fur all labor and ma
terials, and monthly returns of all receipts and ex
penditures, has already and will continue lo exercise
a salutary influence. Asa consequence, tho expen
ditures will'bo much decreased, and tho receipts
transmitted lo tho Treasury with the greater promp.
litudo. The administration of (Ills law, however. !
regret to say, lias not boon as efficient as it should
bo hereafter. Its failure was owing, to somo extent,
to a deficiency in tho oppropiiations and to other
difficulties incident lo tho introduction of a now sys
tem of business. Tills and other reforms so wisely
commenced , within n.short period, with such addi
tional retrenchments o« experience may have shown
to bo practicable, will doubtless bo rigidly carried out
in future, by tho ulficors controlling that branch of
the public affairs.
Tho not increase of profits on llio Columbia road
for tills year aver the profits of last, is but little slinrl
of one hundred thousand dollars, whilst the net losses
on tho entire operations on the Porlngo road have
exceeded that earn. Tho direct, unavoidable end inct- ]
I dental expenditures on this latter read,must nccossari- j
ly bo very heavy. Whether it bo proolinahlo to ar
rest this monstrous demand upon (ho Treasury, by |
i any oilier moans than tho avoidance of lha planes, ia ,
i a question 1 am not prepared to answer, for I have
r not looked into tho details of tho eubjoat. Certainly
i a more honoal and devoted public sorvant could not
“ OUR COUNTRY—MAY IT ALWAYS DB RjOp 1
PA!, TIUJIBDAt, JANUARY 13, 1853.
bo found, than Iho gentleman who superintend? Iho stojd. This tendency should not bo stimulated by I
operations of this work for the lust yenr. IW> he anheroasodf paper money. It is ilio pari of wis- I
rnd the Caiial Commissioners concur in iho dortlg restrain, rather thin heighten (his excitement.'
j IboUhls growing expenditure rsowinglothwhcrcns. To IhoMnfluenco of the unparalleled amount of gold
cd business and tbo dilapidated condiluy of iho furrfshed lo tho world by the mines of Coliforna and i
| ro l, ~ „ , /, . Auiraiis, during t ho lent yoar, may undoubtedly be -
, i lie avoidance of these planes—the coyp'ehon or ntlribuled, iu no inconsiderable degree, the produo. I
I the North Branch canal, and the rcla/ng of the tiotjof this slate of nominal values. The careless!
north track of the Columbia railroad, Ao subjects obWrvor may regard this result is a real advance in
which will claim your early attention. /rhesomoas- ihJvaluo of goods and property, when in fact, it is
, uros wero nII in progress when I camo/010 office.— on i a cheapening of thu standard by which these
In a special message to (ho last LogislJuro, I declar. , tlt oro mousurod. Like all other commodities,
ed the opinion, that they wore necessaw to the public m( i) C .y will depreciate so soon as an excess of it bo
welfare, and should be speedily cuTsummatcd. I j,j d j c d in the market.
B, ci° n, |j rl ? in /V ,osc vicWB ‘ ' . . I 4 common effort, uetioms to mo, might be wisely
ohouid Iho Ocncral Assembly ado*l this pojuy.it mofle, throughout our vast country to prepare the
will bo for them to provide the mosi/s to sustain the p/mimcla of circulation for this great increase of
I reasury under this increased demand upon its re- coin, Bank notes of a loss donommaiion than five
sources. In another part of this coramunicaluß, 1; dollars, now occupying a largo space in those chan
have given you my views touching i(a future <fn-, nuls, should bo forced to give way for the precious
dilion. No permanent loans, it seems to me, slould mclals. Pennsylvania,! nm confident, will most
, hereafter bo made for nny purpose whatever;nor vhcorfuHy, now «n.i hereafter, perform her „haro of I
, should the Sinking Fund be diverted from its IrgUi , tru groat wm It ; nnd I hopu v-. t vUnr°>. no remote \
( m *lo cods. The General Assembly may, howevtr, in pokgd, a general movement of nil the Slaton on this
f ar it.e irnmvd'Slo j suUjlcl first lo remove from circulition all notes
; completion of these improvements, decth it wise to u nd(r five dollars und next the fives also.
; authorize the anticipation of the surplus wKch may J| m fully aware, that in declaring this sentiment
i #c r k ° 10 ir rcnflur y f° r one iwo yo»rs. I Ql , encountering s strong adverse feeling, nor om
( WhenlhoforogoingBchomcssh.il bo completed, I intangible lo iho difficulties winch wmld surround,
the government, in my opinion, should abandon en i (fl , m ,. lir:t l il( l,.|.hon; but, entertaining the conscious
| lirely tbo policy of const, uctmg improvements of. belief ns 1 do. Hint it is the (rue policy or onr conn !
this character. The circumstances which mode H I iry. m rrguds her commercial rivalry with other |
rig i nn wise for the Slate to pnrtcipnto In such j notiuis, 1 nhould bo unworthy of ymu respect, or of!
' worh ' have psssed away. Grand aunties have been |u, B confidence of the people, if I did not eo declare. !
\ constructed'through nearly nil parts of tbo Slate, The of the precious metalsTo points .
w it s tn ividuol capital li'is increased, nnd in rapid-, rermto from our commercial emporiums, should be |
y occupying every feasible scheme of Iho kind.— . faciln.ilcd by every proper moans. Such dislnbiilion
With my present impressions, I shall, under allcir- cannot be fully accompli shed, so long as the chan-,
cumsiances, rests! the commencement of any now nels of circulation oro supplied with small piper
projrc s o l lie character. issue? livery merchant should endeavor to draw!
An unpleasant misunderstanding has existed for coin in'., il.c mleiuir of the country; not only bo.
; Pomo ,Hnc between the Board of (Jamil Comiriision cause il is tlie besl currency for the uso of the peo i
era and the Icn nsjlianin railroad company. Tho pie, bul became of the groat protection it offordal
points In the controversy have been passed upon by aJ T„i ll8l die consequences of commercial revulsions. 1
iho highest judicial tribunal in tho Stale,and Iho When ibeso cmuc, and the bonks at the seaboard
decision on each made know nln Ibc public. close nnd cm.niry paper depreciates, the merchant!,
1 , f,,til,Q gemcnl of ihc public works is nn im’o con ,|irn f.. 11 bark on this coin for relief. But if we
pcnccut branch of the public service, ond has hern desire to have ihc precious metals amongst us wc
confided to the care of ngcnl s selected by the people. muR , rn: ,ke room for them. Both will nut circulate
Jl might seem unbecoming, therefore. in an officer of ot „ ]0 Bjmo limL>i jn [ilo same channels. There is.
-!.! f ! d „ rP ? r ! l mC l U _!i ,f . 11,0 e ,,verr " i npnl 10 discuss the |)or | ia{lß . no principal in political economy more com* !
present discharge Hie lroullcshmo"^ulTcs'«pp>rT# ih‘. i Q kind? of currency, differing' in value, cannot’
ing lo the office of Canal Commissioner; nor can ctrcuUto at tbesomo ’ I itnc. The less valuable of
any good result from a discussion of the policy winch ,| i( , , wn Wl n i,o constnnily nn the surtaro nnd obirud. ■
has heretofore governed (ho rsnnsylvauia railroad ■il f upon the use of iho public, whilst tho more
company. precious article w ill retire to quiet vaults. |
Aa 11 iitizen.aru) an u public cfliecr. 1 hnvo ever
full a deep interest m (lie vucrevs of tho great niter
priro commenced by this company, and luvo inclin
ed lo f.icdil 110 Ms objects no far hr they miy he con.
1 sislonl with tho interest of lire Suio. Thin corpora
tiou should be allowed lo enjoy iih legitimate rights
without being permitted to infringe Ihoso of ll.c
Slate.
ll ia a caoao of regret llinl feelings ahoulii have
been excited, calcululcd to IcyuJ to an unnccosaaiy
rivalry let ween the main lino Sj,pte improve
ments and the l’enn«ylvanla ra MfolWTThcso avenues
of communication between llio cast and (ho west
' a ho old bo made to move in harmony, no far oa that
■my ho practicable. They will doubtless bo com
petitors for certain It mils of tonnage, but in the mam,
under proper iegnl.il mn«, the conflict could not be!
very injurious to either. The railroad, with n single
truck, cannot litvo llio cap,icily to transport more
ib.in imo ball the lonciupe destined :• ■ 11 llio west to
Hie cast, nor is the ril.ito line ntlMi'cd to
iif ’ , ..ji., .i, j. I cm aci
ni* reason why one of llicae great improvements
shon'd bo so conlrolcd as to destroy the other. In all
their elements, llioir objects and conacrjiijncce. they
arc both eminently Pennsylvanian, and hliould, it
seems to me, bo bo conlrolcd us to promote tho trade,
commerce and general prosperity of the Slulo. will luvr in oilier countries, whilst at the flame
The interest winch llio.SMlo has in the receipts inm*. it rr-tards rather than facilitates their produc
fiom Hus hrunrli of her improvements should bo jj un- |) ilm< gives llio lureign producer llio op.
guarded IV nil jealous care ; m doing lbi«, however, p orllUll , v „| Miami I jcUu mg al llio low tales of his
we should mil forget that I ln» is not ihc only nilcrosl own Cn , ;illrVi an ,| siting at llio n.(V«U-il prices of
involved —ih il Uioeo ol Undo and commerce, nro 0()r< . ( r pceivpr his pay, nol in nor drprrria
quilo a. tmporlai.l for the people. A policy looking , mt |n „ oU) and 6l | vrr . | t ~ ibis Rialc
c.clumvcly lo .1,0 fotn.fr ol llic.c ooß.idoralwo., of Ula „ any m 1,., f.-aliiro In Ihn
.nau.urul.ly dc.lrny boll. .mere.... Mo f „ lin , llllMo , f „ r ,,,
oivc no income for iho coders of tho government 1 ’ 3 , . ,
willnm. „.do .nd lonnngo. Wo m ,y have .1,0 Utlor "'"I"'"' " 11 " n ' r ,s ‘ -11
~,.1,001 11,0 (iinncr. Oor rlTorlo ol.aald ~o lo ooooro llio Alum,-..,, |,.n,1„00r in o„r ion mn.l.Hn.
both. K tho lorcoof eompeiHinnlrom foreign U»«l* Npcc'dl Irnishiiinn m create corporations Imfl
should dclo.il us in Una, wo should I lie n yield much usually occupied much ol the 111111* ol the (tcncral
o( llio revenue lo save the Iradc, rather Ilian lose Assembly- 1 bis wll doubtless ho press
bolh. lam nol inclined lo excite alarm iu relorcnco ed up,mi ym r mu** l ler.ill m duri no iho coming vp«.
10 the success of llrn State lino. I believe lint il sion. 11 l*. nghi and proper, iherefore, lh.it 1 t-hml .l
will continue, under tho worst circumstances nnlici- defiant lo you fully and frankly my views touch
piled, to roceivo a lair share of the through and iag ihiß wj-.-lo subject.
local lonmigo. What is most lo bo desired is, Tiu-s«- <uiihci.il holies arc created by extending
Uiul llio (utilities possessed by ihoeo groat artificial !a an association of individuals powers and pnvil
bighw jya shall be united, us far ns possible lo conn-, rges nol enjoyed by tho mass of ilm people under
luruct tho influence of l/iolr rivals outside of *^ ,tr l (he general laws of the Siulc. One (mportnnl
Slate. 'I ho exorcise of » wise discretion, euc In* I c | Hfl , Q f {hose Benins to result from public ncccsfli- j
should, end doubtless will, govern tho action ol those |o (lJJtfe nQ but , ho prO[Tlot } on Q f p „b-f
ml 1 uslod will, llio control ol I'.io .object, may. .1 .. ro „ vtim .„r n . An ..her, I, owe,or, nr-ems .0 look I
I, I, 10,0 lo Iho ...0.0.000, ol .hi. d0.,r.,0 o ooH. |>rivn „ „| por.ioo in.rrclr.l.
There arc still (••‘Circulation about six hundred J ‘ 111
11. and d 011.,. oTrto rol.of i..u0., . 000„d,r.,b10 A,noon the for,nor ,n.,y hr rU.., d rorpo rJ ,„,„. lo
of which 1,.V0 bocomo .o delated and need I arilllalo 1,0 rons,.of rondo, hridooa, r«n»l,,
«. lo rondo, Ihoir fu.uro uso a1.u0.l .10pr.t1.0.U..- ro.lwoyo, &0., .1.0 d.rocl londonoy of whirl. I. In
About s’.>o,ooo of tho old Holes vveru cancelled at pr » nom tho comfort am, prosperity of llio people,
llio Treasury during ihc pint your, under the pm- generally. To accuiiphsh ilicsn ends, ihc ,ioe.-
voiuns ol llio act of tho ll>lh April, lot'.), and a like ~U ' l ,n of capital under corporate powt-r ■», i;n p-w ng
amount of new notes issued by certain banks, lor only a limited liability on ihc corporators, may he
winch the Slulo insiilulnms two per cent wisely encouraged. I n rclcrcimc to such, Ihn pol. l
Tho ctliciciiry of the law o( lb.il), prohibiting |( ,y (J (' jj, 0 Stale seems to bo well •*ntll«*.l. In tlin
circulation ol tho small issues of oilier Slates, bus jailer class may bo placed nil kinds of corpora ,
been grevily weakened by Iho continued uso of tho Ul)|) , l 0 promote tho ends of individual gain, as;
robot issuch under llio denumiualiun of live dollars. , nnt * c with tbn ordinary businosn cnlorpnscß |
Tho presence of those notes familiar.fes llio people of (he oountry Wi(h ti[ , 0 B „ r |, t I P n,«l a . |
lo tho uso of small paper, and prevents tho c.rculu- ijo|) of the Coramonwe(l i, h ha 9 bopn oxiromrly
lion of coin ; whilst Iho oltiocrs of tho law, in many nu . orta j n
instances, make this a protest lo ovado thu duty of 1 1 •
scrutinizing this currency. Tho law of Idol) never 1 entertain tho opinion dial, an a general rule,
will, 1 foar. ho thoroughly vindicated so long as this corporations of this character are not essential lo
depreciated paper is poruuilcd lo supply tho channels ii, o public weal—lliat whatever legislation may
, i i..„ 'IV ~,M..ly lllls evil, ll.rna u» #oPn , f.» fnvilUniv I lit. bualnrsa of mining
hove suggested ihornaolvos in my mind. Tho fir-t nm f manufacturing and the various other pursuits!
is — lo allow all holdnrs (T Ibcso notes lo convert p i>r w | ucb cnrporalo powers oro usually Bought J
them into Slulo bonds, booring a rale of interest nol H |, ou | d ;1 , f., r A 9 pnnaiblo, bo ucnornl in its rlmr
exceeding ("our por cent.,in sums ol nut l C s. than aolpr Bnd bo nvarlnblo nlikf lo nil. 'rimro is, it'
on, Ihuusmid JolUr.. I 1.0 ».c u ,,d ~-.o 11.0 „„ avl ,|„ nro , 0 |,„ fmu.J .„ Iho Im.ory
moon, of tho bmh.ng f o„d to hdr c.. 001. inon.- (:„,n,.,0,uvr,,1ih, or 1,, il.ol of any oll.or
riioso notes uro an much a debt agonist Iho btnto os . 1
oro hor hood., and 1, woold ho lo 6 ...,„.10 work Slnlo, tho, .1,0.0 orco, ... pros., or. morn B „cro»..
of 11,,, fond, to lolto Ihc... „ul of 0...10,100. Tho fully mnnoood by .p.0.nl oorporoiions . hor, h) in-
Ihird in-in .poly lo Ui.h ~..r|,o.c, nil lb. |„o.ni„in. : divld..alt. or ii8.0010,...ns undor (fonoral lowb. .
(list moy bo received from a farihor conversion of| Whilst in tho ospoftenoo of nil, U is mndo very
tl>o present debt into now coupon bonds, is suggest-1 apparent thal individual efforts and experiments
cd in another ptrl of this communication. Should ,am much less liable lo entail Injury upon society
tho latter idou moot your approbation, tic Smking|al large. That energy, independence, Integrity
Fund cun bo mndo tho instrument of purfo'inrng the and purity which usually characterlzoß Indivldunl
praclicol work of cancellation. Uy tho adoption ol operations, are not, as □ general rule, so well rnaln
this policy, ibis illogiumiiu currency would bo ro. i k ij n eil in iho elfuris of artificial bodrufl. Ambition,
moved from tho cbuirnola of circuUtiun without p r j de iind responsibility, ilia groat incentives to
entrenching upon the present mcniH of tho Trofsury, ac <j oni neom. to Homo extent, lo loan limit proper,
or imposing now burthens on tho pnoplo. With the, mllairnco ovur individuals thus associated tngeth-1
ncocosaory legislation, I conhdcntly believe lliat this, , nro |e Htin oB9, inefficiency find prodigality are
end can bo accomplished. . _ 1 1 100 often the Iruits of u ligM interest and limited
I l.upo, llioroforo, most uincoroly. ho. llio a onar,l on ,h 0 nor. of Ihnso onlni«.pd will.
Afntiinblv n tho cxarc so of its wisdom, may dovifo , r0H l )01 *" 11 ■> ,1 . ,
. A a«. Zlo of bringing about a speedy oano'ellar.o. tho management cf Incorporated 00mp.n1...
oftbcao notes. I But why should lh««o special iMvilogesbe do-
Tho oujronoy of tho Stale generally, seems to bo In , sired 1 Are they intended to shield the pur lies In
a aound.oondillon, and to bo sufficient in tiro aggro- . ttfanied fro«*» '*»** full faro* of llio losa wtieru an
gate uinounl, lo onawor llio ends of trade and com enterprise may proro unsuciJossful 1 li so, how
niotco. An Inorcaso of paper circulation, at this BlU |) wo grant such great advantages to one okli
time, would, in my opinion, be nnwlso policy. Tho | yiul> nnd deny thorn to another \ l''i|ualily of tigltts
logilnnalo ends of business do nol euoni lo demand n a || i B nn olemonlnry principle of our government,
suoh incronso. Indeed lira fact cannot be disguised, therefore, for mining, rnunufaoturing und other
that to a considerable extent llio present upward ton- purBl ,j JB| corporate powers nro lo ho granted, how
donoy In the prices of goods and property, is His ‘ ha |VU, o Luiial.vturo tefusn Blmilar privileges to!
consequence of (ho abundnuCo of money. Plus t fannPr IJIO m in er| ( | in tmllor and tho Bhosmu-I
ndv.nco in nom.ii.l ..luo i. r.pld y . ..proaol.lnß «n If ono o |,„ „f oilixon. pro .» h«.o llio op.
u “of a dangerous inflxfian of prices end an .mil-; noea. oo only ft limtled Unbil.ty for the losses, nl
clul expansion in commercial and other busincs* can justly claim a ftko advantage. Wo should
affairs, two 100 clear, ll sooma lo mo, to bo misundor-, thus bo led step by slop in the creation of those or-
!•—lmi-p mciiTnn WBONO. OUR COUNTRY.”
The elTorla ol a single Stale, however, it must ■
ho apparent, can do bnt little in this great reform.
To be complete, U mint bo the w nk uf tho whole
country. Forced vacuums in the channels of pa
per circulation in one State, are readily supplied
h\ the issues of another and thus tho elVorl to in
troduce com is defeat* H. No other feature in th©
policy of our country, I sincerely believe, so deep
ly concerns all our groat interests as this subject
of tho currency. In vain will the manufacturer
rely on the tariff laws f.-r protection against foreign
rompr-UUnn, so lung ns Iho nominal values are l
greatly inflated by an excessive issue nf paper
mnnoy. AM his theorizing about specific duties
and home valuations will avail him nothing, if tho
upward ten lenrv of prices out runs tbn rain of
duty. The paralyzing efT-el of an inflated curren
cy upon all our State and national interests when
oonr<-«i-J ■-•** - y --- *l* r -on ports to invite
such rivalry against all these pursuits, and no rale
of land that tlm wisdom ol (,’ongro«9 can device,
within any re.isonahl© limit, can counteract ils in
fluences. It greatly enhances tho nominal prices
of gnod-i and commoditioa in this, above w hat they
lificitti bodies, until the field of personal enterprise
[would bo occupied by privileged classes— indivi
dual enterprise bo completely prostrated beneath
, lb© power of concenlratod wealth and special pri-'
■ vilegoe, and the relative position of tho pooplo[
i rendered less equal than before this system was
1 cotnrHonccd. Wo must notice, in addition, tho'
palpable Injustice of its practical operations as j
compared with (hose of the individual citizen. A j
corporation is organized on the principle of a Ilm-;
ited liability of tho stockholders—its business Is,
unwisely chosen, or unskillfnlly managed, and it
results in i.ulure and loas. Tho stockholders, In'
such rase, loso the amount they may have paid in, :
and ille remainder of tho loss falls upon innocent
parlies, who, misled by its great nominal capital
have become the creditors of tho institution. An
individual engaged in a similar enterprise, meets
a like fate, and tho last iicm of his personal es.
j tale is sacrificed to pay tho debts ho has thus in
n..rrwl. i
Hut U is said that capitalists will not Invest'
their moans in hazardous enterprises, if required
to hoar more than a limited liability. 1 nmoonft- |
dent that you will agree with me, that this reason
ing in favor of special privileges has no foundation 1
[in correct principle, and is not therefore, entitled
lo favorable consideration. In n mere business 1
[point of view tho position is not a sound ono. If
I a given enterprise bo hazardous, it is the less lia- i
hie to compotiiion and tho more lucrative, i f sue- 1 ,
Icessfnl. lint if it bo a dangerous business, and, ,
: therefore, likely lo result nnprofiiably, upon whom i
i should tho loss falll Certainly it will not be i
contended that it should bo thrown upon innocent '
parties who have had uo agency in tho business. It
i is surely more just and reasonable that those who
iuu lo receive die profits should bear the losses—
, llial those who enjoy the privileges should incur
j the responsibilities. Tho Constitution never in-
I tended lo sustain any other'policy, it never con
templated acts of legislation lo advance one man’s
[jnterest at the expense of an dier’s. Nor am lat
Till convinced that capitalists w onld not invest their ,
mean* under the individual liability principle. It ]
is but :i short period since it was extensively be
lieved that banking capital could not he concenlra
[ led, if iho stockholders were made linblo in their;
short experience has dispelled this doubt and ser- I
ved to deiimriblrato tho wisdom and justice of ibis 1
policy. So it would he, 1 am confident, if this ;
principle were ex tended lo nil corporations design-1
Imi lo f.u'tliintu tho ends of private gam. Capital-,
1 ists who might be apprehensive that their privninl
eclairs w nuld become involved (or the current debts 1
uf the corporation, can employ iho simple and easy '
remedy of making no such debts. Let the con
.traction of n debt bo forbidden by tho laws of the
■ institution. Let their business be Iran-acted on
|llie cash system. Ijy this policy ilicy will givo
‘ j the greater efficiency lo their opsraiions and escape
• | thod reeded liability. Besides, it docs not seem I
: that special legislation for the ostensl
bio purpose of concentrating capital, should at the I
1 same time look lo tho creation nf largo debts. If'
tho incorporation of this principle should do no
more than lead lo tho adoption nf the cash nystem,
n would be tho means nf profit to the corporators
and great good lo the public.
If there ho enterprise* legitimate and useful so ,
amfTt* sf/niMUo \
deemed proper to extend lo such the convenience
of a corporate seal, such cor potation should always
ho Imi i led lo a moderate existence and bo accom-1
panted by tho principles of individual liability fori
all the deb la of the ties octal irn. The convenience i
of special legal organizitinn is all the advantage!
that any association of individuals should ask, and j
ills certainly all (hat any proper enterprise canj
need. 'The salutary effect of this policy would ,
doubtless be, thnt whilst it could not restrain ihej
association of capital for wise and legitimate ends. ■
it would save ilia Legislature the labor of consid
ering unwise nnd visionary schemes, aqd the pub- j
, lie horn their injurious consequences. ,
1 n a message to tho (ioneral Assembly during
, its last session, I look occasion to refer to the
growing inclination for special legislation, and re
commended tho adoption of some measures lorerno
dy t lie evil. A tesolul.on was passed h v that body
million’/, ing the (Jov«rnor to appoi nMh rce com mis.!
«l ■'tiers in prepare general laws fur the considers -1
lion of 111 n Legislature, touching various aubieclsl
therein.named. Aec.ltdini.t7, \u June Ism, I np
' pointed ILm. James M. Porter, F.dwaui A. Pennt
’■man, and J. Kilts Bonham, Lsquircs, commission*
’ 1 ers under said resolution. Tlieso gentleman have,
. for some lima linen devoting ilietnaolvea lo ihc por
. formanc© of (ho duties lluis devolved upon them.
I I ha result of their labors shall b© communicated
to you ai an early period in your session.
The auk of special Ingislalion spams (o have
been n subject nf complaint in tho parly history of
the State. In the preamble in ilio law nf 1701. j
1111 (• n.i♦* d in oln |,iia ih o necessity f>r special nr pri
vate legislation, this complaint is I'rrplv expressed
‘llio volume o| laws for that year numbered fifty ]
nine p.trjus nf a snull honk; in Iftfil, ihcyrounli
eleven hundred of a l.trgo oh«. Tins pvil was thru
m tt h mf.inpy —it is now full grown and should hr (
corrected. I his, in rny opinion, cun only ha do no 1
hy ilia adoption of a lew moro general laws, and
i the rigid admiiiiniration of those already in exist* 1 .
• enco; I deem it right in any that I shall regard the
j maintenance of tins policy as a high obligation lo
1 tho people.
Tho law of 1791, nnd ils several supplements,
make provision lor ilio rrnntion nnd amendment of
corporations for literary, charitable, and religions
purposes, and lo ere.Uo beneficiary sorjelies, nnd
firo engine and hose companies, through lltn instro
>u®ninlny of tl,e AitiMiiry General and tlioKuprrnie
! Court. Tho net of tho !3th of October, 18*J9. ex
tended this power to tho courts nf tho several
counties. The arts of lß3f»hnd IR3B make pro*
. vision for tho association of individuals, through
tho inninuiu'iitnlily of tho Attorney General and j
tho Governor, for tho purpose of manufacturing;
! iron from mineral coal. | n addition to these arts l
tho general manufacturing Inw of IH-19, nnd tin l
I supplements, provide for tho emotion of corpora
tions for liio purpose of manufacturing woollen,
cotton, fUx, and silk goods, or for making Iron,
glass, sail, paper, lumber, oil from rosin, mineral
parols, artificial slate, and for printing nnd pub.
I fulling.
Tim commissioners already named have recom
mended the extension of this law lo the himlnoss |
of mining coal, nnd to the mining and smelting oft
iron, load, copper, and other ores, nnd no to alter '
its provisions as to rondor the liability of tho slock* I
holders mote extensive. They also recommend
the passage of a law giving the courts more geno*
ral powers on the subject of selling real estate by
partios acting in a representative capacity, and
another referring all claims against (ho Common*
wealth to the courts. Those things done, and n
moro general administration of tho law giving (ho
courts the power lo change names, (o erect bor
oughs, lo incorporate bridge nnd rond companies
secured, nnd wo shall have a new ora in the legis
lation of Pennsylvania—-shall save n largo amount
of money annually, and prevent many impositions
in tho shape of husty legislation, based on ex-parlo
| alnlemoms.
These commissioners have also prepared with , i
great cnrn.ti general lax law, simplifying the laws 1
as >hoy now stand—extending (heir provisions 10,
.certain now subjects of taxation, and altering il«j
I features so as tho more completely lo reach men* I
I eya ut interest and other personal properly. fThis
AT $2(11 FEB ASBBB
is a roost intricate and important
should be handled with the utmost care,
not had tho opportunity sufficiently to exapune
this proposed law, to give bq opinion at to its
merits; bot 1 am clearly of opinion that there is
much room to improve the'taz system now In ope
ration.
I The subject of agriculture has not, it seems (o ms,
received that attention in thisSlste which Us exceed-
I Ing importaaco would seem to jastify* It was the
' truthful remark of George Washington, that there is
“no pursuit in which more real or important 'good
i can bo rendered to a country, than by the Improve*
, ment of ifs agriculture." The art of tilling (be soil
in such manner qb to sccuro (he largestyioldof veg
etable matter of which it is capable, and the applica
tion of (lie principles of science to (bat art, ab far as
indispensable to the attainment of (his end, is atpplb
worthy of tho aUenlion of tho best minds of tba
Stale. Agriculture is the primitive, aa it is the most
necessary occupation of man. It was at lha begin-
Marly adapted to tho soil, to the climate, and to tba
habits of the people, end constitutes their greatest
'source of wealtli and happiness. It is tbs agriool*
I liirisl who pays die largest share of (he country’s
taxes in time of peace, ond furnishes the grealaal
! number of her soldiers in time of war. It is (ha moat
steady, peaceful, and dignified, as it is the least ex
acting of all nar groat interests.
Hut it is said by many good citizens that there Is
no ulUltyWn (ho application of (he (etchings of sci
ence to the practice of agriculture. This, Id my
opinion, is an erroneous idea. In a late report frbm
the Patent ollico ai Washington, it is eslimsled that
“one thousand millions of dollars would not more
than restore to their original riches and strength the
one hundred millions of acres of land in tbs united
Stales, which have already been exhausted of their
original fertility.” proper application of soieoca
would arrest (ins waste of the elements of the soil.
In Kuropo, tliis process of exhaustion b«s long since
excited alarm. What it is doing in our country, is
shown by thn startling facts already presented. To
counteract its effects in tho former counjry,about
three hundred and fifty agricultural schools haVo
br-cn established ; in tlm latter, there are not a dozen.
The result of the European schools has demonstrated
tho practical utility of scientific farming. These
; inB l tw(,'tmkHtftiVSAkl/liSli!*
lof Hub great pursuit. To place within the reach of
1 the ngi icullorisl, a knowledge of the constituent do
|mcni# of the soil, ond the influence of these upon
| vogcl ition, enabling him to diicovor a deficiency in
| any one ol these original parts, and showing him
[howto restore it without exhausting another—to
i learn Inin to comprehend tho different stimulants for
1 the soil, of mineral, vegetable, animal or liquid ori*
gin, find the proportion of each which the land may
from time to lime require. They also teach methods
of proctical farming—llio use of implements—the
nature of seeds, and the origin end character of in*
' sects destructive to vegetation. What farmer in
1 : Pennsylvania can say (hat ho has never made a mis-
I take in tho use ofmanurcs, or that hia crops have
never baco injured by destructive Insects f And
I where is there one who would not bs willing to Con*
i tribute something to bo protected against such dam*
| ages in future 7
But is i( not astonishing, (hat iu this progressive
.•ouniry of ours, to suited lo agriculture, and lo Ibis
ago of scientific discoveries and perfection in all the
arts, thnfno institution to impart instruction in the
j IPiW’tRM
the Stales and exhibitions have been hold calculated
Ito awaken tho people to (ho importance of (hie enb
[ jeel. Our Stale society, organized about (wo years
I Hinco. has held two exhibitione, which have done
! much good in the way of Bonding to nil parte of the
I State the best breed of domostio animals, the best
I grama and scedi, and (ho most approved agricultural
machinery. Dul it seems to mo, that (he government
might junlly lead herald end coontonanco to thle
good work. In Maryland, an agricultural chemist
has been employed by tho Slate, and 1 am Infbrtu'ed
that tha result of In* investigation! have been highly
sausfactoiy and useful to (ho people. Cannot the
great Stale of Pennsylvania do as much for her far*
men 7 She has expended a large earn in the dovol
npcmcul of her mineral resources, and has char*
ifltied tier manufactures by every proper means, end
it ia right that she should now do something for her
agriculturists. I, therefore, respectfully recommend
Die appointment of an agricultural chemist, with a
moderate salary, lojving (ho details of his duties to
bo suggested by tho State and county societies,
i Tho subject of growing wool, in our State, !•
i «VOT\Ky r-prriot ntlrmum. I the ptoaanrd,
IU thn Into Sum fair, a short time since, of exam
ining un rxtut.etvecanl of specimens of ibis artible
exhibited by Pctor A. Browne, Esq., of Philadel
phia. It Is said to bo tho most extensive, inter
esting and Instructive collection of specimens !□
tlio oniloci Slates, or perhaps in (he world. N 4
man can examine it and not Tool himself edified by
(ho great practical truths which it is calculated to
imptut. It demonstrates most conclusively that
our Commonwealth is peculiarly adapted lo the
production of this article, nnd that in the United
smtoß wo can ruue ns fine fleeces as can be pro
duced in the world; nnd finer than in any other
<• tinny except Saxony.
It appears hy the census of 1850 that PonOßTl
vnni.i haft only 1,823 350 sheep—that Ohio with ft
much loss territory jins 3,907,000—that York
has 3.151,351, and that whilst our consumption of
wool in manulaetures for 1850 wn87,GG0,379 lbl<»
our production was only -1,481,570. France raises
thirty-six millions ol sheep, and F.ngland with less
than half tho advantages of this country raises
forty-sis millions I
This subject is ono deserving the attention of
the people and the government.
I cannot refrain from congratulating you oh tht
evidences of the gren.t prosperity of Pennsylvania
to bo Ibund In tho commib report of 1850. Her ro-
Ia i i vo position to her sister Slates ia-truly a proud
one. Of (lie four large States her per cenlago of
increase in population, since 1810, is the {Rosiest,
and ahu has, besides excelled tho best of her BIS*
turn in the production of wheat, rye, iron, ftDtl
coal.
Her population numbers 2,311,766, being on io
eronae of almost 35 per cent, ainco 1810. Accord
ing to lliis ratio ol growth her people in 1870 will
number near 4,000,000. Our debt of forty millions
is, nt thin time, a charge on eaob inhabitant of a
little over eighteen dollars ; in 1870, according* to
ibis datum, it will bnt little exceed ten. Thoprei
Beni assessed value of real nnd personal estate* ft
$197,030.0 ID. showing nn increase of eighleeirt per
cunt, sines 1810, and according to tins ratio of
growth up to 1870, it will amount to the filial of
$075,973,922. The debt of forty million's 1 was «
lion uf 8 por cent, on tho assessable property b|
18101 on that of 1870 it will be only five por cent,
land eight mills. Dal In the census
I the true value of Hip properly of Iho Jo esti*
I mated at 8722.48G.120; on this sum our-preaonl
debt is but a fraction over 6$ per cent. Who can
1 doubt Iho solvency of such a debtor 7 . m r m
Her productions of wheat In 1810 was 13,919,*
077 bushels. In 1850, 15,192,191, bcipg'an in
creaoo of 17 por oont., at which rate her ylbld'fOk
1870 will exceed twenty millions of bushels, Th'6
name rule of increase is apparent in m, coin, oats,
bailey, buckwheat and Uvu stock. The beoßuedf
1840 ahowa a production for that year of 98,391 j
tons of pig metal—that of 1850, Is 295,702. or an
Increase of 190 per cent. At this mto lfio yield of
would bo \,371,370 lone. Wrought lron;|n
1810 umounted to 87,244 tons—in 1650 ilia.Ls9,r
50(1 tons. On this daium tho production bf'l67o
would bo 560,309 tons. ’ Our woollen mSnuftfc.
lures for 1610 wore valued at 2,819,101 dolUfd,
,1
j'i <i
1 ~J f
m si.