Az .
• 27:, --•" - ,1
di •
Hi
Vlreoforti opovtev.
da, Wednesday, Jan'y 12, 1847.
EV
The Previa* at the Late Eleetlaa.
We again say, that we are mortified and aston
/ ishetl, to see Gov. Shank's election claimed as a
triumph , overthe principlei of the Proviso: - Tliat
the. Washington Union should say so, is not a mat
ter of wonder, tor' our great grandfalher..Ritrhit, is
so far past the,grand climacteric of life, atito permit
his credulity to be easily imposed upon. Nothing
would be too strong a dose for hint, provided it
bore the stamp of an official, and mime authenticat-
Oil by one who sucks at a Entail WA of the govern
- meat.- But that onr wtonby friend of the Penny)-
. vanian, who whilome, as editor of the Lancaster
Intelligenier, was so highly respected among the
rr Young Democracy," and gained' himself such ere
dit for his - independence and straight-forwardness
should permit the Slander to go imrebaked, much
less to tacitly. sanction it, by the admission of arti
cles into his columns, asserting this flagrant false
. hood, is indeed surprising. Can it he possible that
he will r.
4 now A. suppliant hinges alba knee,
...That that may follow fawning,"
or tat he will permit his independence to be cor
yupted, or his perception of the Right perverted, by
all the offices ni the gift of Government ? We have
a better opinien, Y here, in the North, and expect
hint to speak-Rut boldly and fearlessly for Truth,
",though the Reavens fall."
This infamous slander upon the intelligence and
patriotism of the people of this State, is doubtless
..caused by the belief (hit the Honorable Secretary
of State, in his letter to the Becks County Meeting,
incorporated the doctrine therein contained, into
the creed of the Democratic party, and so made it
a test at the electicst This is a great mistake. No
one man can speak for the Democracy of the State.
They are not to be bought and sold like sheep in
the shamble; nor will they permit themselves to
be shoverbout on the political chess-boani„to im
prove any man's game; especially when asked to
. N support so monstrous a doctrine as legalising Sla
very in Free territory.
_The people of Pennsylvania were too proud of
their present excellent Governor--than whom, a
purer or worthier man never was at the helm of State
—to sacrifice him after the Secretary's letter had ap
peared, even when his election was at the risk of
being misrepresented. This letter would have been
- most slisastrous, putforth at the eve of election,upon
almOst any other occasion, But the people had too
much confidence in VILANCIII It. Suesk, to believe
for a moment that he favored the doctrine of the
Buchanan Compromise. Ile has stood up for the
R,mrr against
_the most powerful influences that
ever corrupted legislation, as no other man except
Hickory ever did. his interposition has saved
community from many fraudulent schemes, and
hilfirmnessUverted many evils which venal legis
lation has endeavored to force upon them. He is
tired most deeply in the 'hearts of the people of
Pennsylvania. The late election is the highest
compliment that could be paid him, and a three.
fold honor, after, the renowned letter written by the
Secretary of State.
k was an ungenerous attempt' to make capital
out of another man's popularity, and showed but
little regard for the success of the Dem'ocratic party
' in this Stale. The intention was plain : If the par
ty was successful, to claim i 4 as the baits of the
Burks County letter; if unsuccessful, to charge the
defeat as the products of the Proviso; consequent
ly, the Washington Unioe rays awe have carried
Pennsylitmia against the authors of the Previa°
Fathrr Ritchie have acme, or the gender ofyour
paternal cognomen will haie to be changed ! You
can make no man of common intelligence believe
that. Say, rattier, we. have, carried Pennsylvania
against those who would sacrifice its best executive,
to answer their own, ends. Why, who were Gov.
. Shank's firmest friends in the State t Who labrir
• ed more zealously for him than the Membet of
' of Congress, and the papers of this Congressional
/*strict ! The warmest friends of the Proviso were
:west zealous for Gov. Shrink's re-election ; and if
they thought for a moment that it would be charg
ed as &victory fur slavery pmpaganclism, by late
rested and selfish politicians, they' relied on their
gym protestations; the high character of their can
didate, and the . intefligence of the people of this
State es an answer to stair err untoended allegation.
ltd the Reponer we repeatedly stated that the
-PrriViso formed no issue at the coming election ;
that it was not a question of party, and he who
sought to make it aech, was its enemy. Ms. Wil
marbfinself, at Weller/enough, declared it was in
ab way involfed in the election, and has ever de
- prated my attempt to make it a party question.
its friends have nnitormly ancl folly declared it wee
rio issue at the Gubernatorial efeetiOM Wier desir
ed it Who. Made it a test, in any way ; mach
kr&F opposition. to it the tcuch-stone of fealty to 'the
Democratic party? Those who week' seek such
a result, are enemies to freedom, hostile in feeling
to the Denrineratie party, and would endanger the
perpetuity of our Union to• answer their purposes of
setraggrandizeinent.. God grant they many never
affect it !
The Tariff of 14416
..--..
.• Vice. President Liave•thecasting - roter
for the Tariff of ttS4S, the Pennsyltt
__wet stood almost solitary and alone,
in the state, as the deferiders of that vote:' Eric
Chtemer.
"" Almosts alone; indeed, were the Penntsylva•
maw add Observer. 'They had but about half ado
zenimnictenions--and among that ball dozen we
„with pride,. was the York Gazette. Now,
its be difficult to find.half dozen, deinocratic
or federal, to sustain the monstrous wrong to. which
that carte gave a death blow."—York Gazette.
With the Observer we are• not 'acquainted, but
we trahritte in the Gazette a faithful and zealous
ut...laborer with the then Democratio papers of this
District - in support of the Tariff of 1846. As the
- - Gazette t r ul y ny e , the -plaice of their course is now
generally 'conceded, and the- fanner opponents of
therm* tariff; are now endeavoring to see which
shall outvie the ether-kr protestatiensef affection for
the ashasure which was to ruin the country. They
• have teamed a lemma, which aril/ we trial be of
service w them.
.11..CALuoip, editor of the Owego Advertiser,
has been elected Clerk of the' N, fork State S,enate.
11/Martis Vast - Mares est Me Prseadlowsey.•
We are ivstifled to observe the attention of. the
Delrater: ,taploly,fammt to be distimusbod
et prr , Awns V:4lt the.nrigt
shen:fiir theiresiderily. ie
Pad* f°r znaP Y_lirOenati vitt b° v O9 l
thal4nutualfisa in its innipityof its meinbers, which, was ever the ewe indication Of ita
sue
cesajprior to hie rejection by the National Conven
tion; entfEjlistins defter hinfluiditiatitiendelia
sufficient reason has been, or can be, assigned-for
that rejection. He received a majority of vote*,
and a decided-expreseuon in his laver, from mote
than three-fourths of., the, thentocracy of the .Union.
The claims of the seVenil tilisdidittes at tbei time,
wet° fultLantLfredY. (1113, X/1 13 4'Y
meetings of the people, and so general an enthusi
astic was the preference for Marlin Van Buren, that
Mr, Buchanan felt it his duty to withdraw hip
name, thereby leaving Mr. Veit Buren almost the
only occupant of the field. By refering back to the
Demperatic papers of the country, it will be found,
that with but few exceptions, his nomination was
-regarded as settled-; -requiring only the forms ora
National Convention, to make him Legitimately he
nominee. The convention assembled,' authorised
arid required by three' fourths of the Democratic
electors of the Union to nominate Mr. Van-Boren.
The delegates from this 'State were so ksabected,
.but with others, they corubined to adopt a rule, by
which the voting for him would be a mere farce;
and thus was the solemn action and decision ofthe
people treated. Of what use was it to say, that in- . ,
structions were obeyed, by voting for Van Buren
until his nomination was out of the question; when
those very men had erected a guillotine to'behead
him. We repeat, there has not ban, nor can there
be assigned a sufficient reason for his rejection.—
Then whyinay not the friends of justice and intm
rity persist in the vindication of one, than whom,
our Country banterer imd, a paper or a better states
man. His measures, so replete with -justice and
equality, have been and are now sanctioned by the
people. His administration, has, since been the
polar star of the Democracy; helitendiy hung out
our lights, that have guided us or. in the enjoyment
of a true adminiitration of the government. We
may be permitted to speak plainly on this subject
at this time. is a seasonable period. No Dem
ocrat need attempt to conceal the convictions of his
mind, as to the effect on the party, made by the
rejection- of Martin Van Bum. That, leaven is at
w5O, diffusing itself throughout the Union, and
stain the standard of that best of men is raised.
the pure in principle are rallying around it. The
Dernbcracy never have, and never will condemn a
faithful public servant, We hope yet to see the
flag of Martin Van Buren waving on every hill, in
every valley, and hung out at every hamlet, with
this inscription on it, lays:Garry sccev TIFIVOSPEL
NM
MI/1
Philadelphia for Dallas.
The delegate 'election, which took place in the,
city and county of Philaaelphia, on Monday 3d
inst., resulted in the triumph of the friends of Gro.
M. DALLAS. In the city the delegates elected stand
thirty-eight friendly to Mr. Buctuffax, and forty--
seven for Mr. Dallas. In the county, the result was,
forty wards for Dallas, to eighteen wards for Bu-
chanan.
APPOINTMENTS NT THE GOTERNOR.--Willianf
Colley and John A Speaker, to be Associate Judges
for the county of Sullivan.
lion. Roman WiLara, has been appointed Re
venue Commissioner for the Judicial District, com
posed of Lucerne, Bradford and Tioga Counties.
Proceedings of the Penn'a Legislature.
Iperteepotbdenee of the Reporter.)
IhRILISIRTRO, Jan. 5, 18471
Both branches of the L%islature organized yes
terday. In the Senate, Mr. Williamson, the old
Speaker, was again elected Speaker by the vote of
the whip—the dements" voting for Mr. Hill of
Westmoreland comity, The Senators were all pre
sent except Mr. Black.
° Mr. Benner of Philadelphia comity announced
the presence of Capt. Small, who was elected last
year, but did net take his sent for the reason that
he was in Mexico,. fighting the battles of his coun
try. Capt. Small came forward, was qualified* and
toook this seat as a Senator. It was said that then
Whig Senatoni intended to raise a constitetionad ob
jection to his taking his seat on this,gromxl that he
was an officer of the army of the VniOti , States.
They had the question pp in cauctav, where the
more wise and prudent ones prevailed, and the
projecti well fin them, was abandoned. The Capt.
is a very gentlemanly, talented mei, and will make
an able Representatiie. He is quite a lion here.
Mr. litunmersly, the old clerk, declined being a
candidate for re-election, and the Whip have
nominated Mr. Pierson of Somerset co„ as his suc
cessor, They have made several changes in their
nomination for the other offices, among which is
one for Transcribing Clerk in place of our friend
Chapman, of the Susquehanna Register, I know
not what objection was made to Chapman, unless
it be that he is too honest in - politics for the Federal
wireworkets. Of course allNhe whig nominations
wiS be seinue4 as they have five majority in the
Senate:.
In the home, aen. Parker of tyccrming
county, the nominee of the Democratic members,
was elected by the unanimous vote of his party
.friends. Oa taking his seat he delivered a very
neat and pertinent address, of which I enclose a
copy. 'The selection of Gun Packer is ahappy one
for the entire House, and especially so for the mem
bers of his party. His great experience in public
basinesi, his acknowledged talents, and his excel
lent business habits, will render` im one of the beet
and most popular Speakets that has occupied the
chair for years. Mr. Jack, the Democratic clerk,
who watt turned out last year by-the whips has re
ceived the nomination almost nnaniesomfy for re
election ; and a Mr. McCreety-of Philadelphia ca l
lir nominated foi. 4 Serarrant at•attas--both will be
elected, of eTrnie.
Tad" et trZ o'clock, the Govetner ermimanica
ted his towage to both bosses. It is an mils and
strongly Democratic document, reflecting itt a Most
lupid and forcible Manner the great principles for
while the party fought, in the great and Onions
struggle on the 12th of October. It will be read
with pleurae' by every true Democrat in the com
monwealth •
Very little other business has be done as yet,
except the avointment of the usual committees to
inform the respet;tive Houses and the Governor,
that they were organized. and ready to proceed to
business:.
The Governor bas been quite sick for several
day but ie now recovering. G.
w ~ a
Werhlish this weerGor Shank's message to
te LfOrlw#,.. leis unusually M4o4* plaiK
topteltenillte and written dinumt thif
1 -3 1
ifinenrie*o! sniiil are exhibited krn. .irmerv . i#
,conditgo.- viiillr: upon the suttees till
kill Whe n
inlilet ,4,. gP . - nil satifactionkL . tis tAi i
all thee) in oppeliticia are vieirea with
distrust.
iirehT4lierio'laerice' nl~h!liee~ii
the proceedings of a meeting held in Bulli to coun
ty;; also . of a meeting held in Athens; and the re:
part of the meat Terryiown Mew Meeting, by a
rP ee ! atc l• ;
. • • .
Artoirtfickr . lor
Watford Countp,
'Mar Bridibid Reporter.)
Ihrisperity of Ilyidtimed County.
Masan &irons :—T - rigret exceedingly to see
the progress of improvement in onrecnnityao much
impeded in contequence of the come mot* by
a few LAID hang.,
The truth is, we are in a situation almost Its des
plorablf i were the people m the oldconnttiestm
der the feudal every seeder occupy
ing land was compelled to. de sertice fo his Lord.
The landedintereses in Bradford Co. are held by a
few individuals who hive purchased them in tor
a mere song, compared 'with what they now charge
the settlers for them, For instance / the lancls. of
" The Rank of North Americal!whO had contracts,
bonds and mortgages &c., againit the settlers,
amounting to about one hundred thousand dams,
besides a large body of lands unsold, have recently
been purchased by a company in this county for
the sum of thirty five thousand dollars, and lam
credibly informed that said company now demand
from the settlers the utmost farthing of principal
and interest. Now what is to tr . .done The set.
tiers cannot pay this amount, even if they were to
be driven off their lands. They are generally poor,
but honest hardworking. men, and most of them
have large families to support; they have gone up
on their lands, cleared up and improved them, con
fidently looking to a compromise with the holden;
of the lands, such as would unable them to eventu
ally pay for their farms. So far as the original hold
ers were concerned they hare not been disappoint
ed in their anticipations. They were willing to
make such compromise as the settlers could live
by, and with that view and in order to place the
Lands, at the disposal of men in neighborhood of the
settlers, they disposed of all their interest, amount
ing, in contracts, bonds and mort,, , Yages and land, to
a considerable amount over 5100,000 for 5a5,000.
The present company by demanding every farthing
of the settlers, propose to make on • the operation
some seventy or eighty thousand dollars.. Trial
OUGHT Nor ro DO rr, and if I am not mistaken as to
the kind of stuff the settlers are' made of ? they can
not and will sot do it.
There ane two questions to be considered. First,
the settlers are not satisfied (as they ought not to
be until they have the means of knowing)' that the
pretended holders have the legal title Jo saiskland&
Secondly, If theybave the tide, the settlers are una
ble and unwilling to pay for the lands more than
three times the • amount the present pretended holders
paid for them. Should it appear that their title is
good the settlers will be willing to pay them a rem.
sortable profit upon their investment, Ikeppose they
were to make five or ten thousand dollars, that is
a splendid fortune ;at that rate the settlers could
probably eventually pay for their farms and support
their families. Something must be dotie
ately to bring about union among the settlers. I
am informed that with a view to make arrange
ments for that purpose, a meeting is to be held on
the 20th inst., at West Burlington. I hope it will
be well attended..
Jan. 10, 111.113., A Frowns TO THE SKTTLI r
eaS.
- •
Apirraerr of the receeptHr and payments at the Stat
Tree:in/mfr. defrost year $847, uPith ewe es(intale
of the same for the year 1848.
Receipts. KeeeiPuir Ibo. Estiinsie, taia
Lando, $16,293 04 616,00 q 00
Auction potamissione, 21,700 00 21,000 00
Auction dude!, 83,831 0/1 65,000 00
Tax on bank dividends, 128,807 13 123,000 00
Tic on corporation stocks, 124,806 80 126,000 011
Tax on real and pemonal
estate, 1,390,781 19 1,409,000 06'
. -.
Tamura licenses, ' 34,963 13 40,009 00
Retailers' heehaw, 143.084 70 150,000 00
Pedlars' lierniMma, 2,291 04 2,800 00
Brokers' limas, 6,698 al cow 00
Theatre and circus' Reenact 930 00 1,000 00
Pamphlet laws, 398 29 400 00
Militia. line* 11.090 37 15,000 00
Tar en mita, &c.,. 47,184 67 60,000 00
Tax on certain officers, 13,611 56 1) 1 ,000 00
Collateral inheritaree tax, 42,743 55 50,000 00
Canal and raiimed toll, 1,687,995 61 1,700,000 00
Canal fines, dm., 5,018 07 5,000 00
Tell on earoffinent oflimnr, 2,490 00 • 3,099 00
Tar ow loans i 118,977 90 120,009 00
Loans, 220,089 89
Dividend. on turtipilor mai
.lock., bridge stc
1,076 79 ' 1,000 00
Mellolion lands, unit 25
Accrued interest, 2,043 $0 2,900 90
Refunded cash, 2,242 69
&Ants, 8,000 00'
Pees of the public officers, .1,257 41 1,500 00
Miscellaneous, 6,379 18 6,000 00
$3,97'7,025 89 $3,921,900 00
Balance in the Treasury
Dee. 1, 1848 & 1847. 384,876,10 680,890 85
$4,361,704 39 #4,802,790 83
AssYlarr of the receipts mid manner at the State
Treasury, for thefileat ?at 1847, sea ale atimate
of the eame for the year 1818.
Payments. Payments, DV. _ Estimate, 1847.
Public bnproweinents, 0690,575 95 0771090 00
Expenses or government, 300,113 37 k 210,000 00
Militia expenses, . - 116,8111 75' 20,000 00
Pensions and grataidee, 24,850 13 23;000 00
Charitable institutions,- 29,090 0 20,006 00
Common achords, , 796 . 8 04 04 • 200,000 00
Loans, 289,064 46
Interest en hone, 2,002410 41 6,000,0011 , 00
Guaranty of interest, 30,800 06 30,000 00
Domenic creditors iat'st., 5,133 bi 5,860 00
Conceited relid notes, 150,000'00 380,014 00 .
Dotnager melba public
worts, 11,467 21 KM &V
Ravenna Conaniusisnear, 98.20 2,300 80
Public bolilinP4ls masoas, 1,802 3 7 JAW 00
Eastern rearm& redie Penn. '
mak _
__
..._ icsur tr . f r IMI OR
that.*look at Weald* 16,550 99: , . 3,400 05
Peoitentiso7, 14,915 00 15,000 00
&Si Library, 1,934 80 1,000 00
goose of Riefopt, 4,000 00 4,000. 00
Cooveying fogititeo, . 079 67
Pochooto, , 00 2,000 00
Niciamoo km*
1,751
51
Abatement or state tas, 40,369 57 40,000 00
Philadelphia riots, 41 00
Miscellaneous, 5,229 3S 6,000 00
IP;680,1113 74 $3,510,300 00
ilehaseeia the Lamp
Der.4 o 1847 & IMMO 85 111,096,400 85
$Oll, l /04 ao 44,601,710 e 5.
. ,
thi•Left
JO* 4, SIN&
•
ik.-sraitaiji Ole;
Cog 7- ' 1 4 108 410 064 47 , i'•
Asaitst fistiflamitttiP ,
new to the Great God, crowd themselves upon the
Representatives of the people, at this annual med
ia*, Alntedeaccdttiag , a.pent , yearjeekteses ,
the; reward of honest iodeerry, itt ry Orsinie of.
the citizens.. Animated with health and enconrag.
.tiaiiew, their have - ettemdily progressed in the
the, accomplishment of their destroy, and while en
terprise has been highly favored m the develop.
nienf Of oh, gent iiso4toes, the abseiling piriperes
dad Sae of rociai otganitaticki, religion, mondity,
education, refinement , ham hem
cherished and advanced.
Althoogh peace andr Inniquaityr hive reigned
within the borders of ' State, we are identified
with' end deeply ' in l ima war with Mexi
co, in which the a • le engaged...-s war with
which the prudence, , and desire riffle
people to retain friendly relations, could not &telt ;
and which was eventually foiced upon us, by the
duty that Mete ttpottevery well regtdaied I3otern•
meat, to protect the rights *fits citisehs i and mak
fain the bourn of the nation,
it t =i, our tm ho l erests, and our 1n talons,
are peaceful. The people e their
bands the sovereignty of the notion, and exact from
their enters obedience to their will. By their eon
trolling influence, they sanction and preserve the
cardinal Wiley of maintaining amicable relations
with all other nations. By them the tights of Ame
limn citizens, in all parts of the world, arid the ho.
nor of the nation are held sacred. Violation, of
these national rights and national honor, append to
the justice, and invoke the power of the wholepee
& for their vindication. The war of 1812, with
England, arid the existing war with Mexico / are
illustrations of this distinguishing feature in thecha
racter of the American people, Patient of niury
while wrongs am sufferable, and reasonable hem
or a returri to amicable relations, upon apritable
principles, can be entertained, yet no nation may,
with impunity, violate the obligations of treaties, or
break faith with the United States,.
In defence of these just righte r the Filter of this
people is resistless. Every citizen fields himself
responsible, end the army springs into existence,
not by courscriptiorui,.contrects for enlistments,
but by the voluntary impulse of independent free
men, animated by patriotism and urged onward to
deeds of heroic valor, by the approbation of the
whole nation. This invincible spurt glided by the
science and skill of the officels , has bed our armies
in Mexico, from one victory to another, and from.
one great ,winmph to a greater, and will lead them
still onward, until apermanent and honorable peace
is secured. While the honest pride of every Ame
rican is gratified, by the great achietements of out
soldiers, hitssonfidence in our free insittiticria, and
in the means to defend and preserve them, is
strengthened.
Tn the support and prosecution of the seer in
Which we are engaged, Pennsylvania has given to.
ken of her ancient and uniform fidelity to liberty
and the honor of the nation. tier voluteers were
among the first to tender their services, and in eve
ry enconnter with the enemy, have magnified the
military fame of the Commonwealth, by deeds off
•romantic chivalry and noble daring. In these great;
achievements, many of our heroes have fallen in al
foreign land. The moans of the winds of Heaven, ]
in painting through the long graretin their garves, are
re-echoed by the sighs of their friends in the father
land, and the sad requiem is tilu.st tribute to thek
sofferings and their valor,
The finances and credit of the State—the amoursi
and condition of the public debt, and the means of
reducing it, are among the objexta, which claim the
first attention of the `ReprersentatiAae of the peopilet
The amount of the public debt, on the Ist Decem
ber, 1846, was $40,789: 7 577 Ot)
On the Ist December. 1841, it args f
according to the iteport of the
Audifor General, as follows, viz:
rENDE,D DEBT.
S
per cent. stocks, e 1.72L315 Oft
afi 37.907.000 37
41 900 ore on
Relief issues in circulation. WHIM 00
interest certificates outstand'it, 353.1193 trt
Interest certificaus unclaimed, 4,439 WI
Interest on unclaimed and out-
standing cettificstes. to 1 psi
Cent. to Ist August, 1e45, time
of funding,
Dollestie creditors,
Oeitig 8160. 627 4 8
less than it tires 011 the fst of December, 18411.---
This payment,- of the reduction of the debt, witlr
in the last financial year, was effected by the can
cellation, at the Treasury, of one hundred and fi fty
thousand dollars of the relief issues, and by the re•
ceipt of State stocks in payment of old debt', which
is allowed in certain cases by law.
There would have been two hundred ibotesand
dollars of the relief issues cancelled, within the
year, in accordance with the requirements of the
law, but the payment of the interest which fell due
on he first of February last, left the Treasary so
much exhatieted, that the amount which should
have been cancelled on the 31st of Airirch, was not
then on hand. It will be recollected that it became
necessary to anticipate a portion of the means of the
year by a loan of $200.000 00 to meet the interest
which fell due on the Ist of February.
The bafante in the Treasurypn the Ist
December, 11146, was 8384,678 70
The receipts inte the Treasury, during
the financial year ending the 30th
Nov., 1847, from ail spumes, includ
ing the loan of 8200 ; 080 0 above
referred to, were, 3,977,025 89
Making 817 aggregate of 4,36/1704 59
.The payments made out of the. Veto ,
bury, during the same period,. fad". ,
ding the* payment of the loalt of
8200,000, were, 3,680,817 74
Leaving the- balance in the Treasury,
on the let Dec., 1847, 640,890 85
being 8996,712 15, more than it was on the Ist
Dec., 1846. E
The estimated amount cif . 3= Habig -
outstanding taxes, .orr the tat Mo.,
1847, was, 538,881 00
and the estimated amount of thesame,
Boa Ist Dec., 1845, was 541,68 S St
atria' exhiliits an increase; in this
item, of
To which add the increase of the bat•
mace in the Treasury) of
and werhavoibe sum of g 02,404 51
as the e increase of thetalance in the Trea
sury, an a Mtastanding taxes on the Ise Decem
ber, 1846:
This calculation shows, that the revenueseuess
ed and waning, within the financial year, ending
it
on the 30th Nov. last were not only adequate to
meet the demands n the Treasury, within the
year, but exceeded ern by the man of 8302,404
51, as above stated, d if to this mnu be added the
amonnt of the debt paid withfir the year, to !RM.:-
8100,027 49, we have err sear of 8463422 00, as
the mime of the revenues accruing within the year,
over the payment of the interest oaths public debt,
the oarsmen of the government, and the other or
dinary demands upon the Treamiry.
'nits presents a very encotungingview ofthe im
proving condition of the finances of the State. II
is the fins time, since the commencement of the
internal improvement system, that the permanent
revenues accruing within the year, unaided from
any other source, have exceeded or been equal to
the demands upon the Treasury. It is trine, the in
terest upon the funded debt, and other claims upon
the Treasury, during.the two preceding years, in
chiding the payment of a portico ofOm publiedebt,
by, the cancellation of relief notes, were punctually
paid ; but in , doing_thie, the 'balance' which had ac;
cumulated in the Treasury, on thelist Dec. 1844,
by the previous stupension of the payment or the
interest ott the public debt, for two and one-ball
years, as well as die ainoent of tareithen otitstand•
4 4.4541 EO7
94.005 47
X 10,628,949 51
6,192 36
296 f 212 15
AarigiatOWWW4ran
linnieniniit Wilkins& in - nIY
to
Itif t telt -4841 ,01$ 6 , 3 thi c kyggitic
10'
Anmiamm of,,the receipts and eapindiforesiof
cuOtta do tokith much care, lad upon
,9.cial w ittiAle °WTI ° 11 ; °C ,
Clrytiesinteda=killeelbrai:Ptrl
*ll Josems - forthe fintmcid,Tear, ending
on the Mb Nov . 1848; is j_ $3,921,900 08
And that the eatlated amount or ex
111hiattiWItirtNelititiolosditt,in7F4:-
eluding the cancellatkin of 8200,000
toilet tuxes, is 3,576,300 00
In h exhibits sliest:hosted mess of
. L TINTO!". over expentlitorpa, of
rardialk- eat/I/madame loathe can.
venation of relief nOtea, which are a
I . 7.'plattrof the trablio•thirri - -
L _ -
Anfl Vie have the rein - - 1546,010 00
as the estimated` excess of receipts, of the ,anent
figantial year , ending on the 30th November beet,
the the papiisest of the interest on the public debt; , the earnest demandi upon, theTreaserys
estimates, when taken I con
e r entirely safe end reliable. ring the list
, years, the actual results' have been. more fit=
vet-able to the Treasury, than were anticipated by
estimates , Notwilhata n ding the extraordinary
ft , ... which otetirred dosing the past year, the
stsipt damage to the public works , find the
.
in , ~, , of the trade tpon them, far tibont Usti
~ ' , the, the tolls taken by thew/ledges, Within the
y I aoconlhtg te the report of thd Caned Certunis...,
la , , o, =owned to the sum-of $1,6810175,1d, •
0U11;08I 11 more than was taken in the' •
inglear, and exceeded the estimate Made r
I. - last year, sear one hundred thoueand , dol
. no unusual interruption of business oceurred„
i 41 3
t amount taken would certainly have . 4eaclied .
teen hundred thousand deltas. 1 :'t
e estimates of canal and railroad tolls; fcrrthe
Eftt year, Is seventeen hundred thousand dol-1
whieh, - there is a good reason to believe, is
er below than.above die amount which will be
eked- The expenses . of repairing the damages
the ee blic ivorks, by the theida of the past year,
ill pnacipally fall upon ; the current year. They
are, however, included in the estimate of the ex-
knees of the year, and will not affect the results
presented in the preceding calculations.
f The amount of relief issues in circulation, off the i
Fae first of December last, was nine hundred and 1
irty.one thousand, six hundred and sixty-lour do
ns, of which fifty thousand were cancelled at the
reasury, on the 31st of Dec., leaving eight bun
red and eighty-one thousand six hi:tricked and sue
-four dollar., still outstanding. The ineans Eddie
t reasury, it is believed, will be gdequate tuthe can
eelletion of the whole amount now in eirtslalke,
iwithin the present and secceedieg year, 14any of
:therm are so defaced, as to be almost illegible, and
`are trek for eirceltaitte I besides they • vitiate ,, the
icarrency, and finiiieb an exerts for the ear of
small notes from other States, in violation of law,
and lessen the circulation of gold and silver among
the people. Justke to- the public Creditors, who
are' el:tripe/Idd to receive them in payment of their
interest, when they are below par as well as to the
people at large, imperatively demands that they,
should be taken oat of etreelkion as soon as pract
icable. I, therefore. recommend' the passage of a
law, lltirwing such of the Banks as have ismed .these
notes, to fund them ate rate of interest not exceed
ing six; percent. per annum payablusemi-annually
and that all the surplus means m the Treasury, be.
yond the payment of the interest on the public debt
and the current expenses of the government, be ap.
plied first to the redemption or cancellation of
those that may remain in circulation, as they come
into the Treasury, and then to the payment of the
amount funded by the banks.
The resources of the Treasury will be sufficient
to cancel all that may be received in payment of
dues to the Commonwealth, and to pay the banks
the amountstunded in two years. By this process,
should the banks agree to fund any considerable
portion of them, all may be taken out oLcirculation
m the present year. • It may be urged, that as thcise
notes do now bft• interest, they ought not to be
converted kW a debt on which interest will be pay
able. This, however, is but a superficial view of
die subject. There IS no longer any excuse fora
continued violation of the public faith, by the pay
ment of the public creditors in a depreciated curren
cy, and the Small amount of Interest, which will
have to be paid, jf the banks agree to fund a portion
of these notes, will be more than a:Ape - n*od by
relieving the character cf the Statte fronr ate con
tinuation of this act of injUsticer, and the people
from leases incident to a depreciated eirculatiod.--=r
This currency had its origin in an - evasion of the
COnstitution, and ought to be 'clotted out of remelt-.
brance.
It may be safely assumed, that we have reaetred
a period, in our financial history, when the perma
nent revenues of the Commonwealth exceed, an
merit!, the interest on the public debt, and the ordi
nary demands upon the 'Treasury, beat least half a
!alien of dollars.) And this excess, it is confident
ly believed, may, by a judicious revision and
amendment of the revenue laws—a prudent and
teonemical cootie on the part of the Legislative and
Exetritive departments of the goverminent, and the
faithful' mierageinent of the public *arks be aug
mented in a few years to one million of d vSars,aa a
a sinking fund, srithod increasing the hardens of
those who no* pay their taxes, on a hill return and
fair valuation of the* prbtreny. This sum applied
semi-annually, with its . interest, to the re
demption of the five per cent. Sttaatte 'mocks, at par,
would discharge upward of sixteen'millions, four
hundred thousand dollars, of tbedelk. in twelve
years, and reduce it at the end of that tithe; to twen
ty-three millions. It is believed that elf the relief
issues will be redeemed and cancelled by the year
one thousand eight hundred and fifty, and lithe op
erations of the sinking fund are then commenced,
oh' the funded debt, the result thus anti!lipated, will
be' reedited' in the' year one thonerand eight hundred
and sixty-two, at which time, there is good reason
to believe, the net income from the piiblie works
wilt be more than sufficient to pay the interest on
the' balance of the public debt, and thereby relieve
the people from all further :duvet taxiition for this
purr. I .
Some may view thin pr4positien asoftsionamand
delusive ; but I regard it as entirely practicable un
der a wise and prralent ad MitlatrafitalPf the affairs of
the State The ainienting. trade upon our public
worts, and the consequent increase of busine.tik in
our commercial and manufactuti%!cities and towns,
and the increase or population and taxable property
within our limits, crembt fail, coder a proper en
forcement of the revenge laws of the state, to add
to the means of the Treasury every year. If, hover:.
er this great object is to-be effected, the public rev,
emitter must net be &welted to Other purposes, and
the most rigid eexcemy, and the strictest accounta
bility of the yytdic agents, mns be required and en
forced. It is among the first and highest duties of
those entrusted with the adnihnistration of the gov
ernment,' to adopt the most of .mentis, en
der existing cireenastariem, to increarsepoblic con
fidence and guard against the good faith of the
State being eve? ;gam called in question, to reduce
the public debt, and relieve the people from perpet
ual taxation to pay interest. I, therefore, feel
thilim
pelled by amuse old* to renew recommen
dation contained in the last annual m (re, which
is in these word*: " In connection with is subject
I respectfully recommend to the General Assembly
the propriety and policy of proposing to the people,
an runendinent to the Constitution of the State, un
der the fond of the) 10th article of that instrument,
by which the income from the piblie improvel'
tams,) l after dediasting the necessary expenses for
repairs and uperuttenderiee.ths l emma ari s i ng
from the e
St,4 o
tax on real and personal property, for a
certain per' , an such e th er items of income as it
may be d coed expedient to; include, shall be set
airart end p edged for the payment of the interest
• upon . the priblic (tat, andthe gradual li liquidation of
the principal. Sucliqth amendment, iudieionsly ar
ranged would, I apprehend, meet with the &mid
ed approbation of the people of the Commonwealth.
It would concentrate public sentiment upon a fixed
object—venieve all &mite of the ftilliress of the pub
.„,.,. --:-....
eselay ll* .• , , ~ • 'of the ~.'elQ.
"gaiainnentsas public . ebt. It would giver's., a r e
,!dililoissil sec . _ and . ranee to the pe o pl e and to
blia•-; - itml e i, ' ') in no events eeeld the'
remit*, be wetted from its legithel e o
rest, and ;mould furnish ctmclusiiereasens b for the
ettenel * cheerful payment' of the Mee re •
Au insAusdity:'of • taitatiett ifieftig . 6-01% large
aimentitheleirf Miserly thicel le tax'ander exim m ,
-Iso m eireoing assessm ent, and Ibtf unequ a l ra g;
ation of that which its
,_ , °enemies , to h e a
aublect ofjust esennpl,ii *. : 0 t am well aware the re
niiiinsue.l- ;Mies - • Stith' All subje' e i
= icke
but still the experience s f the operation of nthe s
tem, and the detects I flute bettome icktikei d
will point oat some edieli
be
the grievance:,
,which exist, and wine' sh ould be adoptea 1, t h em
!F
=a l reverstfroy, invite the attention of the
3 A ssem bl y, to * thorough e xaminatieft of
subject. Whateveri ' amount of taxation one mar t
moves by in in
.. , or 'imperfect e re e tn i on
of
the law, ts in impost atirl fraud upon his neigh.
yam ;
bor, who n i akes lila return of his properly, a n d
pays a tax upon a fair Valuation:
Th ere are no en mere intimately eraineet e d
iiith, or 'which ha ve a ere direct influence upon
the interests of the kb than the currency and
the banking /Teethe • '
1
There is good.re to believe, that the par
perity of the ' peop of th e United States, pa r .
ticularly those connee with the agricultural inter
ests, hes been protented, by the removal on th e
part of the British Goiremment, of -the lka d u n e ,
upon our exports ofgrain, and other agrimifie ra l pm
ductions, and the motrifications of our own tad , b y
Which the comenercial exchanges of the two com
ings hate been greatly augmented, without affect.
jeff, injuriously, so eras I sm infoeteed, any of the
great manufacturing interestspr ober induarial pur
suits of our people, J .
Other causes, in et/retina:tied .bit *he:those aped
rid to, hate produced a large hither of ilpecie into
the U. 8,, during the past year, which has gene into
active circulation among the people, or found its
Way into the vaults of the banks. Th is increase of
the precious metals while it shonl&dispeese, in a
great degree, with ;he use of paper currency, has a
tendency trimcrease it by enlarging the neonate the
banks to extend their issues. The etfeet of winch.
if encouraged, will be to proinote sOeemlation, and
over-action in every department of business, and
thus, make the present substantial prosperity of the
people, the means of produCing adversity and de.
pressiori. The Veritions eif the Constituntiorial
Tteasety hate had. sed.no derilbt will continue to
have, a. most salutary latittettce, to restraining the
tendency to excessive bankins by keeping the
public revenues out of the vau lty of the banks; apd
compelling them to be preparedjto redeem their
notes, and furnish , specie, tc meet the wants 'of
those who have cCistorns, and other dries, to pay to
the government.
$345,510 00
200,000 CV
Although the restraining influence of this great
measure; upondhe banking system is most benefi
.Cial still it does nett dispense with the necessity of
caution end prudence, on the part of the States: in
every thing pertaining to and banking and paper
circulation.
Moderate dimiimination difses,, 'with a song
currency, limited ko the specie standard, may be re
garded as theneral l and healthy condition of x
country byy whic the pate rewards of labor are se.
cared, and, ail the_great interests of the people ad
vanced, while high duties and a redundant paper
currency operateas unnatural stimulents and ere
.ntelapparant but /delusive prosperity.
Sleeking can contribute so much to the manners.
anop of oat preeent peosperity, es a sound currency.
Pefinsylvama is ,rith 'in prodnictions of almost ev er y
description required hi the Wants of mankind ; aria
nothing is necessary to make ber people the most
independent in ; the world but a proper r et ard for
her true interested To advance these, she most not
be sedficed .frorn her devotion to sound principle.,
by the artificial contrivances of false economists,
whose selfish theories are as delusive,. as they are
deatrective of the public good.
The present is most propitious period, when
there is an akiundatice of gold and silver in the
country, to &eke e determined effort to increase its
cir :illation, and secure to else people the currency
which the wisdom of the framers of the Constitution
of the United states provided. Instead of ereaung
new banks. oe increasing the capital of old ones.
our efforts should be. directed to secure the solvency
of those which already exist, and, thereby render
circulation sound and reliable.
• Impressed With the force of these consuloratiops.
I am cooViacecl that the increase of the banking'
capital of the S(ate, would be unwise and inipelii; :
and I respectftig recommend, that before any one
of the existing banks is rechartered, a search.n.:
scrutiny be instftuted into its affairs. its Li 13114 .,
meat, its - evedit,land its means ; and if it be found
that the notes hive been suffered to depreciate. that
the accommodations have been bestowed upon fa
toriteS, and' large speculators and dealers in Inner,
instead of being diffused among moderate and 'ate
customers; :that the issues hare at one period en
couraged speculators by their excess, and at anoth
er oppresseff honest industry, by the contraction:
in short . ; that the legitimate object for which the
ptivileget Weregrantett, have not been br ram fanh
ful:and judiCioas management accomplished, then
tfie - charter strotild be, suffered to expire by its ova
litaltatiorri nrecfisciantinuance of such ins.itnnoto
will promote the priblic good, and will be hailed
with 61 4 Prubtitiene by but those who have, for pn
vategain, vOested them from the purpose for which
they were -established
• This polity,. so just towards the public, sink it
may, to a moderate extent, diminish the present
amount of banking capital, will strengthen public
confidence in the other banks, and add to the stabi
lity and soundness of the currency. And as it may.
also, inereaSe the profits of existin g banks, beyond
a just compensation to the sbhreholders for their
invesZretratt, and as this excess of gain is derived
front fie sytecial privileges conferred Upon them br
the Legislatetve, I recommend, that the tax imposed.
by the act Of the Ist ISb5, upon dividends
exceeding Six per cent. per anomie', be increased.--=
While the indotement to excessive banking will he
reasounbtylchecked, by the increase of this tax, the
finances oft the State, may be, to some extent, Ito'
proved, and the public welfare promote!.
This policy indicated', will leadib the ext"
cution of the law prohibiting the ciTrulatiod of for
eign notes. ander the denaminanott of five dollars.
as soon as the balance of the relief issues is cancell
ed. This *ate a positive advance.in the improm
ment of the enrreticy,which should be then folioed
by a law (prohibiting the circulationbf all notes.
below the 'denomination of ten dollars. The chan
nels of circulation will then be filled with an al•ie
dance of gold and silver; the public secured aravt
the chancies of loss by broken banks, and depreciV
ed currency: and the way will he opened tit silo
further irrprovernents as the real interests and
venience,of the people may demand,
The cautionary enactments I have snrosied.
not fail to increase, rather than ditnintsh • the am
ount of a:sound circulating medium, fulll ent,:li-1
to the public, confidence. The effect will n:
hr
the specie of the.country into active circulation. '"•"'
furnish the peciple with a substantial currency..43'.
cannot be impaired by bank failures, and 10 re'
strain the tendency of the flanks to foster carol'
gance, in time of prosperity, and check the mean'
of opprestsion in time of adversity.
A the nry has been advocated and litst int o
tice, in sOme of the Slates, Galled FREE DANKO"'
it is based. its part; upon specie, and in part apt.
Slate st4irs, hypothecated with the Governineo . " —
In otherlwords, banks b ecome, the cmhtvr,ol ,
cmcongwealth, by purchasing her bonds ;
are devosited with the government. and the gmeT s
runt endorses, and returns to the bankers.",',„
prepared for circulation, to an equal a mou nt. 1
perceive grounds for confidence in thistr t f. o .
It mu-it 'explode, in a country where it is aaPr e ' r. ,...
any considerable extent; whenever a trrui' i^ ".
curs to eat its stability,. liar it is a deMation
true principles. Bound• and safe banking ca:2;•-,53;',..
be based and condiatterfon money---gor ' d s°.
*either individuals or banks can lend that
they babe not ;• and if they lend credit the xr
of bank notes. without the means to redeem
gold and silver, they commit a fraud upon the c ; h3;
munityt as they lend and put in circulauml• ci
Which is not money, nor the representa tst
money
.If t s syStem of converting State sIN
bankingand hyyothecattne;
a'
st : &N.
fbr the!payment of bank issues. were net