THE - PAESS, rtrailalign DAILY (BUNDAtEt BIECIPZO,TED) BY JOUN - FORNEY, OFFICE PIO. 417 OIEFAT‘NUT,P3TRESI. DAILY PREEN. iwavr4asamer=fiWM, pueblo totheassriers. „Metlo4 to quheoribers out of the City' et Six Dorxeis Pia Arm% SOUL bOLLASII •os TI GH T MOXTIVII; Thais Dome:as' 701 Ettx htorgue—lnveFiably In ad vent* for the time ordered. • Team ONLY FRIBAs.' . Maid to mi odtan mkt of the (317 et Tuuz Dot. Lam PIM Amprit;in idnooe. STATIONERY. .1860 D 1 MIAS -AND CHAN(IkEI. • ' WM- F. XUR,I)II,Y & EON S. . - ouzeniuT irraiwr, • - 'Below Fourth, intioTtuAr. SAITFAOTOINSte BLANK BOOKS, • 'Mode ort,lnen Stook. Bpooial Orders promptly exeouted. _Ch e eglur, DrolNoteo, -Copying Prone*, Leper mot /121 7. Lopag o v i for o n s wkp A p ri v i m y wk . or ACCOUNT BOOKS. - OLD AND NEW FIRMS. 1111QIIIELINO WHOLB OR PARTIAL SETS the oomlzig season, will gad on our elselvie a LARGE AND COMPLETE ASSORTMENT ma widish o eelset, *min have them made to order of ANY DESIRED PATTERN, OW ru VERT BEST QUALITY OF MATERIAL AND , WORKMANSHIP, Together with s full assortment of FOREtON AND DOMESTIC , COUNTINO , HOUSE STATIONERY, AT TEE 'THEY LOWEST PRICER • MOSS, - BROTHER, 8a 004 , amlat • No. 430 MARKET STAB BT. MILLINERY GOODS. • E 729. FLOWER -& FEATHER STOUR, ImosEsTiggi , STUBiIT, against int, at GREATLY LEDUCED MIMI& out Cairo 'took of . "RADJO_MBI39,_ BRIDAL wase,n9 a rENNOW FLOWER& FEATHE MILLIN Y GOOD& rEIOS.KENNEDY &BRO.. 729 CICESTNIIT 6T.,AND 43 S. SECOND ST. 00324221 • -- BOOTS AND SHOES. 'HAZELIA & HAVER. • MANIIPADTURRIMI AIM WHOLE3AIii MAUER _ • BOOTS AND SHOES. WI 128 NORTH THIRD STIEHL A fall usortman t of City made Boots and Shoes oon *tautly on hand. .10-ti HARDWARE PACKAGE HOUSES. HANDY 16 BRENNER. PM 93, 23, AND '27 NORTH PIPTH STREET PHILADELPHIA. WHOLESALE COMMISSION MERCHANTS, For the tale of ell kinde of ANIBILIOAN MANUFAOraLED H.ARDWAIB., AID INPOITIDS or •BR.MAN, BELGIAN, FRENCH, A.ND HARDWARE AND CUTLERY, feta acnietartrlg ea hand a large stook of Goode Weer PIT HaftZra Niger& BUTCHER'S BILKS, BY the oast or othorwiso. BUTCHER'S EDGE TOOLS, BUTCHER'S STEEL OP VARIOUS KINDS. WRIGHT'S PATIENT ANVILS AHD VICES, It! #ll. CHAIN, £44 other him' to every Yeti* BEA BP'S RPEATIIR .PIBTOL; WEIGHING ONLY 8M OUNCES. S ews NEW MODEL RIFLES AND PISTOLS. IDWAZD B. NANDI. J!10.11. lIIIIIMI2III. 0. POUNIIIO6, W94l' PAOICAGt - HARDWARE HOUSE.—We i,L. would renneotfolli call the attention of the ft m e a s kil i fardvere' 'fat& to our extensive Stook of S - SUSAN. UnßoWiiitS, whiok we offer at a, e rr ky the err for dirstritilsortaSon solicited, and goods de flected either in this city, New York L ioafewurleans. ~ W. 0,143w - ro & Son, 411.00.11M.SRCIE Sloth Immting and C_ innommi on Me ronelln AM Monti ler Foreonn and DosteadoKsrdware. CABINET WARE. VABINET FURNITURE Am) BILLIARD 'ad TABLES. MOORE & CAMPION. No. NI SOUTH SECOND STREET, m connection with their extensive Cabinet Enmesh ore now marnsfao izirilattesitoeluf :Ehave now on hand a isr lyrehed ()ORE it AMPION'S Rd VED EMMONS,' h ere pronounced by all who have used them to open& to Worker& For the re queirti and finish of these, Tables the mum boozers fer to their nuaierbne patrons thrmighout. the Union Who are familiar with the oharsoter of their wort. lyNt4tm DRUGS. CHEMICALS, Pico. DRUGS, ,G 4.95, PAINTS, &o. ROBT. SHOEMAKER & CO. NORTHEAST CORNER NONNI% AND RAOE BTFIENTS, WHOLESALE DRUGGISTS, Importers and Dealers in WINDOW CLASS, PAINTS, Ito., Invite the attention of COUNTRY MERCHANTS To their large stook of Goods, blob they offer at the lowest market rates. noe.tf LOOKING-GLASSES. L OOKING -GLASSES, t reduced prices. J. OCMPLAND,o. at South Fourth street. has or hand ittlle stook of French Fists Mirrors in_ gat tunnel, riehlyornamented or plain. which are olTered Ist be low crepe. Square and oral Portrait, Picture, Ful Photograph Frame,, French Plebe on hand ifOM by sOup.to .t= by 36, at moon below former pries. Were-solicited. JOSHUA COWPLAWD, d9-lm 1i0.53 South Fourth street. SCALES. goroa FAIRBANKS' PLATFORM SOALES Fsele „NI", TIA TAUT Street. JOHN MACKAY'S PURE EXTRACT OF CALVES' FEET. pEttlails bri L i d a gr and i t utr l l i t s i g " :vittL a g tb a en ..oups an ,Einmea. B. ..ld by EDWARD PARRISH. 800 ARCH Street, TRW. WEAVER, RIDE TEENTH and VINE Streets. ,AS. T. SHINN, 1444 BROAD and SPRUCE Alrsata. Hun COAL ,OIL ,W 0115,13. FIRST PREMIUM. AWARDED AT PRINNITYLBANIA, STATE BAIR, 'LOWRY ROOD BTRBBT, WHARF 00IWYL 011102 127 WALNUT STET N. P. 141/MAAN /e. MN A IT TI 0 N I --ASTROLOGY !—LOOR OUT i—Oljeln NEWS FOR ALIA—The never bans him VAN 'BORN Is the best; she 612.0.. orhrip ell others have failed. AU who.are r a lible, o all who a hove bee f !! ugortnnats, deceive d fr br In moo 4Fai n t l l774 /reeve', h er r. She tir n se o eyiit of winning the effeetions of the opposite' sex. It is thin foot with* indoor Illiterate pretenders to try to 'value her, and gopy her advertisement She shove rut: l i ttVeirlgo u gi t o u tle w p i litilit a ledcllA b ag As —rat only person who rap show the dkenew tyloan.grve *nitre nabs rooftop on all the eon. series Mn ' married- dab be tested and proved by Mot • lindw; married - and iiingle,whor daily and mite y nt her. Come one come all Ito No, IS LOMB?, Li met, between Jardoor end 'Arnett ded-nt I'IRAWING AND PADITING MATE- A-. ay. . - ger m. aniii ArAhitelte . Stationary. yd, II 61.0ElpM10311ftiS. at IA .11tl and Yuen , • nt eil or shildron, and also for Artiste and • do- es oadllotizo Prunes. . 4 , • ,,,xi i CloZt a a:14911 7 rono h. -, dank & .TA.NENIIKY, No. 118 South MONTS. Street. WWI tiE AND RETAib. oln-Sm /14LOTITTA TWINE.Just received, a, aortic" let of OteraltiNitti s fir atitay . 421 -n H. afar it. and XI le:Wharves. EPPER.;=—Ait , invoiee received. and fci dale hr - WETHERILL & BROTHER, dU Ma. luot 49 North nECOND &rent. Amor" Du‘ (ILAB2i on hand and tot' paietby WRTHBRILI, lc BROTHER, Non. had 49 North SECOND Street. MEM, MAOHEREL—A , fine invoice of ht54.9.11i, and VllWbffypClo, iOlO , OO. gllto.o l l d irllll ralreMir m. 1 • 0 IT ur • -bated Bitter' are misting iith e g- • 1 I 1, 101'1400 Woman, and permanently en . isr oqt of *want orproor too enlthtu - eatinapt the diary (wort %V 111 t IY rerni ''ll3llCl3l4sbtairtindiug tbrat'an cad n':l posts, .trorcomalliort srvoucDebility, Fever an , kO, , , • TlEt *AB BRA.DIR,Y, it rdn/illiata Arse, eta Km. 111.15 , ,morner siXTgand ett esof mg. L•T't'"-.6IIII.,BOAtiIONYI-' Viirgini , for sale by . , wErmanz & 13403,11 ER. ; 47 as 11.9,rfOrIlt 82COrt U Street. ER- Le.. large and well. uwtodiltoo . ItAlt tar Inenufeetured sad for ma miOntarvia • • . ~\, '. .' \ . 41 I i .//./4,./.." ItlP 4 k )6.. . . , -s, \\\V. i 1/ , '' ''. 7 ''...... -,-,' 41 ~ t.' ( ••• s s ' ..A 4 ,I I / //'. I! . 4 r ' ‘..:;'*'''.-'' (1;1. "1 1 44,1. ' ‘:.' tiTi' .. ;. , ..... \: s. . s .: \ \‘,!: //. ... 44 4. %i r --:--,.. c, ~,,,...*: ..• • .• . 4 ' ..,,._A , . tw .„., ~. r . 2 ., ; „1.; 1 r,,,,,,:......,.., • , .. .. ..... -,. \ • x.... , ' I :''' 0 111 11 ..' ','. I • , Lt . .. . ..,„ ,„,,,,...,:. . • ..10„..,...„..,..„ -,,....-....-...-.t..,,.,74..:.,-„....--,-,...,, .4.... id's ,,.,, ,:,!,....,...„....,....; ::..,. ~ ... 1 ,' ' A .-:-'----.4.. -- -----. •• , . ''. . . ......- ' ' c 'i''.i ............. f....._ ____,7,71.7...,,, ...,,_ .. ,..,..„9,... . , ~ p: 1. : 0, - ;:,..:11 I. :„.. f ., . ,s ; .....:::'. ,.., :. -: ,. - 1 ,11 : 1,4 4 : : • '1L . " , .: .. ,. . ,. ili = 7 o: l 7 - RI fr7.:::_"4.r _ ....-..-_. ( r:I.: ' -.....--c .----,-.--- -_.:......--• -..../... - . 1 . , .. . 1..‘4 : . .: , .... - .: _.........!.....,-• ~ ~ .. . VOL. 3.-NO. 13 3. CIGARS, .TOBACCO, &c. THE CELEBRATED ENELIER MILO PIPE ENGLISH MILO PIPE! ENGLISH MILO PIPE: RUSTED, N. R. corner THIRD and 6 HILSTNUT has juat sewed an aaaortment of MILO'S PREPARED PIPES ! Imported direct from London. These celebrated Putee are of the float Brodleh Clay, and will color equal to the Meerschaum. They are sold with or without Morocco, Tin, or Wooden Oases. ENGLISHMEN ! ATTENTION I I The delight oral' English Smokers is the.Mu.o Pipe Herron, N. E. THIRD and COSTNIJT, hae re edged all the Styles, viz s BATTLE, IIITsLIA RD. ' OoUILISR, LONDON. • SCOTOO, IRISH. GUTTY, MAJOR. Wholesale and Retail, dtt tf gegar lt. R. t tr. MID and CHESTNUT. ESTABLISHED ,1760. • - P'ETFIR. LORIFT , AR,_ •BNuFF & 'TOBACCO MA.NUFACTIIKER, 16 a 18 CHAMBERS tairßE3, Formorw nd ds Oliatharoatreet, New York.) Wouti cell the *avowal stten qoa of Grocers and Dragg ate to am rarragvag. and also the ertielee of his =outgo:ore, vie: - BROAVN I" 9l l 3 Y itaprgaag Di Ta g ai " t i tTgitia, Coarse Itspreo.,. rgisterutoches, L"Allien itit T BVlMUPP. 94nbag‘3. t esp i o . a. ` 4 " 6.0t0k: er f ah Scotok, Irish T eest, Freak Honey Dewßootelt, or bandyloot. TOBACCO. . SMOKING.. . . . MINE CU CHEWING. SHOEING. No.l, P. A. L.. or plain, alt. Joao, No, 2, Cavendish, or meek Elpenlen,' Noe. 14 s', mix'd. Sweet doented Orinoco, °finials,r , _ Nitefoot Tin Foil Ce.vendiali. Pure Turkish. A Circular of Prices will be sent on application. N. B..—Note the new exhale of. Frexh Scotch Bnulf, whioh w ill be found a aneerior artwle for :lipping pun- Moses. . . d&S.3m ZW.ISSL.VIR*I7.4O. no NOATH THIRD staina, Moro for islet largo apply of OIGAR S OF THIS Olin • HAVANA BRANDS. TOBAOOO, SNUFF, PIPES, &o. AGSMS POS. GAIL I AS, %ERMAN 8)101UNG TODASCo AND CIGARS. cooSisSal A MERINO.. 140 bOUTH ritON't 13111.1211, 11l In store and bond, end Mrs far Bala, a Largo bakirtiaaat at OIGARS, Illoosivall Creel from Havana, of *kolas ant favorits Brands. RETAIL DRY GOODS. DECEMBER REDUCTION IN PRICES, L. J. LEVY' ea CO. Announce to the Public and their Customers that In se cordanee with their usual custom at this sermon of the rear , they have reduced the prim of their stook of FANCY DRY GOODS. which comprises manyoholoe and betualfal descent:lone of goods suitable for CHRISTMAS PRESENTS. L. J.L.& Co. have received, this week, a very Gnome collection of Embroidered Cambric lOUs, New Lace Goods, Embroideries, k0.,t0 which there snll be added, on Monday. December 10, several oases of Notrreautes. espemally selected for HOLIDAY PRESENTS. 809 and 811 CHESTNUT STREET. dl-0 LADIES' FANCY FURS. GEO. F.. WOMRATH. NOS. 415 AND 417 AROH STREET, HAS NOW OPEN HIS USUAL OIIOIOE ASSORTMENT OF FURS, Mae of otialr endeoted bl Motell In Europe during the put Spring. oeSS-gm CLOAKS! CLOAKS I I IMMENSE ATTRACTIONS. EVERY NEW STYLE. EVERY NEW MATERIAL. THE LARGEST STOCK IN THE CITY. ;sr Prizes more reasonable than at any other estab lishment. IVENS. nl9-ti 93 SOUTH NINTH STREET. CLOAKS I CLOAKS 11 THE GREATEST OF BAR¢AINS D. ID CLOAKS EVER FERE IVENS, . 93 13011TH NINTH STREET. LIONS CLOAK VELVETS. All widths of these goods in brilliant blacks. They ate composed or pure tfilk i and considered the best manufacture that. resoheis this market. Imported expressly for our retail sales hy RPLESS BROTHERS CHESTNUT and EIGHTH Strati& CLOAKING CLOTHS. Fine Bleck Cloths avd Beeman. Ladies' Black Cloakinns, Slab to Overcoat Cloths, 4111 to ace°. • ireu-coat Cloths, IPA to U. lack and fancy Cassimeres, Extra heavy fanny Winter Satinets and Union Caainneyee. )od and cheap Venial/I,Bllk, Pluckk Valenela , • Dope wear—soodi espeoialhaeaptee to. d 7 COO CUARD, NI It and MARKET. A.: . - ()LOA S. raincla °l Bl 6 2 f ici, m Blll.o l° Ost lack Beaver o vioaks, 810 to 819. Blank Trioot Cloak., vo to 319. We are now selling large quantities from a large, fresh, and clean stook. Cloaks made tq order and gua ranteed to fit and pleats. coormt, k CONARD_ dl7 NINTH and MARKET. COMMISSION HOUSES. FROTHING - HAM & WELLS. 24 SOWITI FEONT, AND 36 LETITIA STREET, Are AGENTS for the este of Goods Manathetured by the following Cogripanitet, viz Ha sea° yam Bassi Pape, LITICiaI . .8 , N1911.1 .M 8971013, BARTLIT. Brawn,Bleaaked, and Goland Sheeting', Gldrtings, ham and Dnlie, ROBESON'S BLUE PRINTS, RAIODIN COMPANY'd TWEEDS AND COTTONADEB in great variety. WASHINGTON MILLS (Formerly Bay State) bawls, Plano and Table Covers, Printed Felting', Flannels, All-Wool and Cotton Ware Cloths, heavy big anti blue Beavers, Caasimeres, and Tricots. Also, Her SAM /Atlanta. and Tweeds. al-'tutu-ern FARRELL& MORRIS. CHESTNUT STREET, IMPORTERS. COMMISSION MSEC HANTS CLOTHO, CASSIMERZe, DOMINO, AND SPRING AND KIDAIMBR 00ATIMOB, MANTELETS, PANTALOON EITNITII FROTHING/LIAM & WELLS, 36 IiETIT/A STABET, AND 30 BOUTS FRONT STREET. COTTONADES. 6attebte for both Clothiers and Jobbers, in large variety. BUMMER. coATirms AND oAlsll.PallltlirCd Made by Washington hillbs. Orders for thew desirable goods for Berths trade SHEPLEY, HAZARD, it HEITOHERSON, NO us CHESTNUT ST.. 0011.11118819 N 10110HANTS FOR THE SALE OF PHILADELPHLA - MADE ' GOODS. 0441 'l),,e Vl-„ess THURSDAY, JANUARY 5, 1880 Publications Received. FROII J. B. LIPPINCOTT .t CO.: Footfalls on the Boundary of Another World, with Narrative Illustration's. By Robert Dale Owen, formerly member of Congress, and Ameri can Minister to Naples. 1 vol. 12M0., pp. 528. Philadelphia : Lippincott 't Co. Manual of Publio Libraries, Institutions, and Societies in the United States and British Provinces of North America. By William J. }theca, chief clerk of the Smithsonian Institute. Philadelphia : Lippincott & Co.—A work too important to be hastily passed by with a mere acknowledgment. We shall notice it in full in a few days, in conjunction with another most mei ful book—Triiner's Guide to Amerloan Litera ture. The Organon of Scripture; or, The 'Minoan Method of Biblical Interpretallon. By 3. H. Lamar. Lippincott. Poems liy Two Friends. Follett, Foster, is Company: Columbus. Lectures on the Philosophy and Practice of Slavery, as exhibited In the Institution of Domestio Slavery in the United States; with the duties of Masters to Slaves. By William A. Smith, D. D., President of Ilan delph•Macon College, and Professor of Moral and Intellectual Philosophy t Edited by Thomas 0. Summon', D. D., Nashville, Tonn. Steve:A xon h Evans.—A very able and temperate view, from a Southern aspect, of Slavery in America. Messianic Prophecy, and the Life of Christ. By 'William S. Kennedy. New York : A. S. Barnes & Burr. Sermons for the Poople, upon important sub „loots. Selected from eminent Divines. New York : A. &. Barnes (lc Burr.—Au admirable en leotion, the best ancient and modern preachers having boon laid under contribution. The Christian's Instructor. By Rev. Josiah Hopkins, D. D. Fifth edition—revised and en- larged. A. S. Barnes A Burr. FBOK HAYES ot ZELL History of the Religious Society of Friends, from its rise to the year 1828. By Samuel M. Janney, author of The Life of William Penn, &o. Vol. I.—lt was very desirable that a good History of the Sooiety of Friends should be writ ten by a competent person, and Mr. Janney ap pears to have brought to the task large know ledge of his subject, liberal impartiality, and great acqualntanoo with the old books in which the early portion of the subject is contempora neously treated. The work will be completed in four volumes. FHOAI S. HAZARD, JUN.: Re-Statements of Christian Dootrine, in twen ty-five Sermons. By Henry W. Bellows, Minis ter of All-Saints Church, N. Y. Pp. 434. Now York : D. Appleton & Co. FROM IMES CHALLEN & SON : A Laddor to Learning for Little Climbers showing how Play and Study may bo combined. By Anna M. Hydo. English History Condensed and Simplified for Children. By Anna M. Hyde.—These are excel lent books for young people, and might.be ad vantageously used In schools, and for home in struotion. FROM G. G. EVANS An Overland Journey, from Now York to San Franclmo, in the Summer of 1859. By Horace Greeley. Now York : Saxton, Barker, & Co. 116011 CIIARLIG DE SILVER Praotiaal and Progressive Latin Grammar; Elementary Course. By Thomas Clark. A now and carefully revised edition, to which has been added a Second, at Full Course of the Latin Grammar.—We believe this to be the beet ela• mentary work on the Latin language ever pub. Babel PROM T. B. ?MERLON tt. BROTIMAII : Christian Believing and Living. Sermons by F. D. Huntington, D. D., Preacher to the Uni versity and Plummet Professor of Christian Mo rals to Harvard College. I vol., hmo. Boston: Crosby,Hiehols, A Company. Life of Lafayette. Written for Children. By E. Cecil. With six colored illustrations. Boston : Crosby, Nichols, St Co. A -well•exeouted bio graphy of one of the most chivalrous ohtimplona of liberty during our War of Independence, and for the succeeding half century. , Ftto)l J. McFentax, Ancina 'form : The New American Cyclopedia. A popular Dictionary of General Knowledge. Edited by George Ripley and Charles A. Dana. Vol. VIII. pp. 795. Articles Fugger to Haynart. New York : D. Appleton A Co. FROM W. B. ZIEBER : The Art Journal for December. London: T. E. Virtue.—A Monumental Group, by J. H. Foley, galled "The Tomb Revisited," and first class lina-engravings from pictures in the Royal Collection, Buokinghem Palaoe, by Wilkie A. Greene, are the principal illustrations of this number. There are numerous wood-engravings of the highest merit, and a great quantity of letter-press, almost exclusively upon art and Da accessories. FROM TICKICOR A FIELUI, DORTON: Tom Brown at Oxford, No. 2. Boston : T. F. Seven Years and other Tales. By Julia Revanah. Boston : T. tt F.—This is not so neat reprint of Miss Kavanall'a excellent book as that simultaneously published at a lower cost, by Ap• pleton A Co., of Now York. It appears as the first number of T. A F.'s Standard Library of Fiction." The Banking System of the United States, its Defects and the inception of a Remedy by the State of Pennsyl vania. (Communicated.] A mysterious languor has long prevailed in all departments of trade and commerce throughout the United States. Two years or fliers ego the banks at large suspended specie payments. The suspension was not of long duration. It was gene rally regarded as the effect of a popular panic. Resumption was effected gradually throughout the whole country; confidence was said to have been restored ; money became, in mercantile phrase, " a drug;" speculation revived 14 some quarters; im portations increased correspondingly with specu lation, and our country again wore the aspect of strength, except in the eyes of a few, whose erne. Hence pronounced the strength to be only the strength of fear. Such men did not pretend to say that the patient had not a good constitution at the bottom ; but they then averred, and they still aver, that there is something wrong in the action of our commereial and financial system. Else whence this dullness of real estate, this depression of legitimate trade, this want of confidence amongst men of capital, this unsteady and excitable money market, this complaint, common to merchants, farmers, bankers, planters, manufacturers, alike, to say nothing of spooulatora ? all of whom say either loudly or quietly, and emphatically, that there is no life in trade. Now, this state of things is plain evidence of eon coaled ineolvenoy, somewhere, to an enormous ex tent. If nearly the whole population of the United States were either producing or trading legitimate ly, snob languor and depression, such uncertainty and want of deadens° in the future could not by possibility have existed during two suocessive years of good orope and of perfect peace. It is therefore safe, or at least it is most prudent, to assume that the present finanoinl condition of the United States is She to that which prevailed in our country between unoriginal suspension of payments under the sweep lug oriole of 1837 and ultimate liquidation and per manent resumption in 1842. It is greatly to be hoped that the two years which we have already suffered aro not to be prolonged into tive such years as we had under the tedious but mighty death struggles of the United States Bank of Pennsyl vania. BATINIATI The suspension of 1837 was purely a domestic!, affair. Land-speculation bad, in 1835 and 1838, taken the place of farming. The result was, that in 1837 flour wee about twenty dollars per barrel In the United States, and exchange from the United States on Great Brittain was at about twenty•five'per cent. premium, or fifteen per cent. above par. The National Government was then hopelessly entangled withthe bead of the elm try; and neither the United states, as a confede ration, nor any ainglo State of our Union, enjoyed In Europe any mob confidence as is implied in the word credit. The crisis that swept over the United States In 1857 was, on the oontrary, mainly of an indirect or reflected character, being attributable primari ly to the exhaustion of Europe generally, and of Prance particularly, from the effects of the Russian war. The drain of treasure to go East, and to return no more; the enormous outlays of tho great military Empire for armies and fleets, soon put the Bank of France upon the purchase of coin at a premium. Now, when the notes of the Bank of France ware below the value of speme, in 1854, 1855, and 1858, every banker and financier throitgla out the oivilised world should have understood that the Bank of France had virtually suspended oash payments. What is suspension in tho daze o bank but Inability to keep its notes exchange able without premium for specie? During the time abovemamed of Frenoh ember PHILADELPHIA, THURSDAY. JANUARY 5, 1860. rassments, the banks of the United Statile opened . themselves to draught of the white of their specie • reserves at any moment. There was more or lees specie at all times in tho vaults of the banks of our seaboard. The aggregate =mitt of that specie was quite immaterial in practice, for the enormous capital anti credit of the dealers in European ex change, who are concentrated in the city of New York, enabled them to keep ' 6 co call" at all times such an amount of money as would at any moment drain our batird of their gold and Giver coin, anti leave our people—the people of the whole United States—temporarily, at least, with nothing but paper currency as a measure of value. In August, 1857, a email cloud suddenly gathered, a general blackening of the heavens immediately en sued, and a Storm of portentous violence °rumbled many structures, which a few days before had been supposed to be of prodigious strength. That storm soon reached, Great Britain. The Bank of England bad, by loans to bankers on bills of exchange, previously put herself, moot in judiciously, in the power of the "leading draw. ore," and eho was therefore obliged to ask the fridul: genus of the Ministry, and of Parliament, foe an Issue of one-pound notes, or, in other words,. for a virtual ausponsion of cash payments. Since that, time she hoe adopted the rule of lending no more to the class of customers who humbled her to nave themselves in 1857. It is competent for tho people of the United States, it is competent for the people of any State in the Union, to protect themselves against future debasement of the currency, and we propose to inquire how that protootion %nay be effeeted. An excise of oonsldorable amount, in the nature of a stamp-tax on bankers' European iixobango, drawn or sold in the United States nt loowJn time - than three or tive days' sight would be a constitu tional and effective measure for adoption byout na tional Legislature. There is but ono reason why bankers check on Europe at sixty dap' lisp, and that reason is plain. It is to gain an enormous and overgrown credit, by means of which they get the control of the speoio boats of the currency Of the country for the benefit of Europe, in time of &mice, or of war, or during the painful suspense of a do. bious poems. Wby should the banker, who chocks from Now York, or Philadelphia on New Orleans at sight, chock on Liverpool, or London, or Paris, or , Hamburg at sixty days, get from his onstomerS for foreign exchange the notes of our own banke in paymens of that time-exchange, lend "on the money so borrowed on Iris credit, and thus get; without any sort of taxation, a monstrous oonir6l, for foreign account and interest, of the metallic fora. , , datione of our currency ? But the matter above indicated belongs to us as a matter of general interest only. Our concern; as a State Doi:naive and as a State Legislature, id with the currency of our own Commonwealth; and , hero we should boar in mind that a sound currency is of the highest importance to any oomniUnity; and that the State which best regulates its own currency most, in the long run, have the most prosperous and virtuous population. Suspension of cash payments by banks demoralises the whole community. Their example is pregnant wi,th mis chief; and disregard of all contracts follows close. ly on suspension, stay•laws, and all other 'oonse games of a bad currency. The banking law of this Commonwealth, (the act of 1850, we mean) is full of absorditk4 and unreasonable provisions. It requires country banks to maintain their issues at a eertain7alue elsewhere than at their own counters ; and under color of this provision the banks of the oily of Philadelphia lately endeavored to regulate the rs ! demption of the notes of the country banks,pd al most to monopolize the oiroulation of ban Te notes throughout the State. We can see no reason why it is not just as proper fur city banks to redeem at convenient points in the country as It Is for country hooka to redeem in the principal thy of the State. Nay, we go further as to city Unita, for we do not see any good reason why they should wish to make currency at all. Cities are, orehoull be points of purchase and sale, points of aArose lion of cash capital. City banks should therefore,; by all means, be bard-money Country banks, on the other hand, represent MAW , ly a population subsisting by agricultural or Inimul featuring or mining industry. Aare—in the count try we mean—la the labor, and here only should bo the temporary facility and convenient breakwater against unfeeling hard-money apt:ciliation whieh bank-note elroulation is designed to p! 0 " 14 4.4" 1 * city is a vast commission house, having abundant credit for its own good and for the good of the Com monwealth, without any adventitious help from bank note circulation. Tho simple plan, therefore, for tho good of all stases, is to offer to tho city lac duceuients to maintain a purely metallic currency, and to suffer the country banks to go on without any other proviolon of law than that they shall, as they value their charters, redeem on demand at their own counters. Recent legislation (rays an cot of Assembly approved —, 1858) has given to individuals the right to contract as to loam of money at rates of interest above six par contain per annum. To extend a like benefit, or any part thereof, to a hank enjoying tho privilege of nicking currency—that is to say, a circulation of notes of the low do. nomination of five dollars—would evidently elevate such corporation above an individual who, what ever may he lie wealth, cannot lawfully issue a circulation payable on derpand. utif a bank were allowed to charge seven per cent= per ag o= in commutation for the renunciation of all circulation of its own or other notes below the denomination of ten dollars, eight per cent. for a like renunciation as to denaminationsbelow twenty dollars, and nine per oont. for renunciation of all circulation below fifty dollars, probably .ail the banks of the city of Philadelphia would, in the end, come up to the lest•named highest ratio of commutation. The dixuso of notes below fifty dol lars would make the currency of our great me tropolis, and reflectively that of the State at large, Independent of those fluctuations which must, front time to time, so greatly convulse our sister State and city of Now York so long us tho specie of her bunks is under foreign control, which way at any moment of political or commercial disturbance sweep away the precious metals to another conti nent, and leave In the bends of ber citizens a oUr 'tau which the Comptroller of the State cannot find immediate means to redeem, although it theo retically rumps firmly on the loans of the Empire State. Under the liberal privileges which bavirre - elt suggeiited as to the rates of discounts by banks re nouncing circulation, the instituting so commuting could afford to pay into the treasury of the Cons. monwealth a moderate tax on the large deposits which they enjoy by virtue of their location in larger cities. We would suggest one-tenth of one per cent. per month, payable at the end of oaoh month, on the average not or real deposits of said month, to be verified by the joint oath or solemn affirmation of the cashier and prieeipel bookkeep er of each bank; the amount of the aforesaid ta* to ho pledged by act of Assembly as a sinking fund fur the redemption of the loans of the Common. pealth. If we are right In the premises with which ilds lino of argument was begun—to wit: that a vast amount of conocaleal bankruptcy exusts throughout the United States, depressing energy and logy mate enterprise, and involving trade and es/a merce in great hazards—then we cannot too speedjly proceed in a reformation of the banking system of our State. In 1811, a national bankrupt law developed the existence of an amount Of insolvenoy which had existed during several , yeara of mysterious previews depression, but which few persons had suspected to exist to such an altruting extent. Why should not the Logialatureviof this Commonwealth make at once eueh enactments, ip respect to currency, as will, in any contingency, make the hard-working farmbre, metsitanics, miners, and manufacturers of Pennsylvania com paratively tale in their property and in tht fruits of their honest toil? Why should we aontemplato with patience the possible substitution of irreaemnable paper for precious metals In this ooniteetion we may remark that, in 1842, the lion. 'bury Clay, no hard-money 111121, admitted—or rather stated— that the k-note currency of the whole United States was at that time as nearly as poasible equal to, and not greater than, the whole estimated amount of gold and silver coin in the country. The ourronoy was then pure ; the United States Bank of Pennsylvania, and many minor bankrupt banks, having then Just died, after many hard struggles. The report of the Secretary of the Treasury of the United States shows that, immediately after the suspension of 185 T—that Is to say, whilst all the banks in our country were endeavoring, not to ex-: pond, but to liquidate and to reams) specie pay monts—the aforesaid report, we any, shows that then signin, fora few months, just about two years age, there Was an equalization of bank-note ear rency and of colts throughout the United Stalea. Now, utter two years of unprosporous distrust, growing' out of paper expansion, bank-note circu lation, throughout the length and breadth of the lend, Is greatly in excess of the specie lands. It behooves the Commonwealth of Pennsylvania to take the lend in establishing the oiresdation of gold and silver only, at least In our commercial metropolis. Max Kimain.—A man named John Cloud, a resident of the suburbs of Columbia, wee killed by the passenger train of ears on its way down from Marietta to Columbia, on kiaturdsy morning last, running over him, between the tunnel at Point" and St. Charles foremen The unfortunate man was dreadfully mangled, He skull Wok smashed, and his leg crushed off near the ankle. Doubtless, whiskey was the prime cc the fret cause of his death, a bottle of It being fund on his per son.—Harrisburg Union. GOVERNOR'S MESSAGE EXECUTIVE CUAMBER, 11ARRISOU140, Jan. 4 1880. To the Honorable the Senators and Members of the House of Representatives of the Com monwealth of l'annxylvania GENTLELINN : In complying with that provision of the Constitution of Pennsylvania which makes it the duty of the Governor, from time to time, to give to the General Assembly information of the atm° of the Commonwealth, I Elan moat happy, on thin ocoasion, again toaeongratulate the represen tatives of the people upon the highly favorable oondition of the Oneness of the State. • The receipts at the State Treasury, from all sources, for the flood year ending on the 30th of November, 1859, were $3,820,350.14, to which add balance In Treasury, December 1, 1858, $892,027.70, and it will bo seen that the whole sum available for the year was $1,718,377.00. The expenditures, .for all purposes, during the same period, were $3,879,054 81—leaving an available balance in the Treasury, on the Ist day of December, 1859, of $839,323 09. Included in the expenditures for the fiscal year are the following sums—Vie : Loans redeemed. sates cancelled .. 4.137 el interest certi fi cates p aid 4,813 30 Making of tho public debt notually paid. - during the year, the sum or 80,24 60 The tundod end unfunded debt of the Common- wealth, on the let day of December, 1858, was as follows: EDEI=2II 6 per cont.loardi 6 do Total funded debt UNFUNDED DEBT Relief notes outstanding. Interest certificate. .. Lo do unclaimed. Domestic, creditors Total unfunded debt. . ... 13.3,958 W Making the entire debt of the Dounnonwealth, at the per iod named, $39,484,213.117. The funded and unfunded debt of the State, at the close of the last fiscal year, December 1, 164, stood as foklpws : 6 loans por cent a . 4% do 4 do . Total (Orland debt ......... ............ 37 !MIT:CUED inair. Raliaf notes In circulation . 8101,213 00 Interest °orb finatea outstanding 11,513 82 Do unclaimed ... . 4,410 3-.4 Domestic creditors 802 GO Total unfunded debt . , 124.977 70 Making the public, debt on the first day of De cember lest, $13,638,961.07. Since the oleic of the fiscal year, the commission ers of the sinking fund have redeemed, of the live per cent. loans, the sum of $lOO,OOO, leaving the real debt of the Commonwealth, at this time, funded and unfunded, $33 478,961.07. If we deduct from this sure the amount of the bonds received by the Stale, from the Ale of her public works, and now held by her, as follows : Bonds of the Pennsylvania Railroad Corn- BL a la e pany • • • •• • • • Bonds of Wyoming Canal Compeer Total ~......911,081e00 00 we ha1e527,301,1161.01, the remaining debt of the Commonwealth, the principal and interest to be provided for, from the ordinary souroes of revenue. It will be observed, that from the let day of De cember, 1838, to the 31st day of December, 1859, a period of thirteen months, besides meeting all the ordinary &mends upon the Treasury, there has boon actually paid, on the principal of the public debt, $1,009,282 60. When it is remembered that, during this period, the law reducing the State tax upon reel and per sonal estate, from three to two and a half mills, has been in full force, and that nothing for the last year has boon received from the Pennsylvania Railroad Company, on account of tax on tonnage, making the receipts, from those two warm of revenue, lees by four hundred thousand dollars, than they were for the preceding year, it is a souroo of congratu lation that, under such oirotunstanees, a result eo favorable has been produced by the ordinary ope rations of the Treasury. For nearly two years past the State has been entirely free from the ownership or management of canals and railroads, and the gratifying . result, thus far, is, that her public debt is now less than it has been since the year 1812, and is decreasing at the tato of nearly ono million of dollars per an num It to now morally curtain that nothing but the grossest mismanagement of the financial in terests of the State can prevent its sure and speedy extinguishment. Why should not Pennsylvania press onward until she is entirely froo from debt?' She is longer engaged in the construction oft groat works of internal improvement, nor is elm the proprietor of railroads or canals. Believed of these, goveromental notion is greatly simplified, and is now happily limited to subjects of a purely governmental character. Having sensed to bo in terested in ordinary business pursuits, it is her plain duty to devote her beet energies to relieving her prople from the burden of an onerous debt. When this groat result shall have been accom plished. ihu_mbormary. enomditurees of at economi cal administration of the government can be readily met without the imposition of a State tax on reel or personal estate—the remaining sources of revenue being more than sufficient tor all lo etiolate purposes. until that end, so anxiously looked to, is scoured, true wisdom, as well 11.3 sound polio', dictates that our resources should be carefully husbanded; that none of our present merest of revenue should be cut off or diminished ; that all departments of government should consult a proper economy; that all extravagant and un ueeessary appropriations should be avoided, and that every now scheme for embarrassing the Tree sury should meet with marked condemnation. tncournging, as ere the results of the past two jears, it must not be forgotten, that we have but ust commenced the payment of the principal of our debt; and that to prevent a misapplication of the public finances, and thereby insure a continu• once of its reduction, from year to year, is mend• featly the first duty of those placed by the Consti tntion in charge of the public Treasury, and to whom belongs the exclusive right of raising, econo mising, and appropriating the public revenue. I earnestly commend this whole subject to the care ful attention of the Legislature—entirely satisfied, that, as it is the most vital of all the interests coin. witted to the charge of the General Assembly, it will receive that consideration which its import ance so eminently demands In my lost annual message, I communicated to the General Assembly all that, up to that period, had been dune under the act, entitled An act for the sole of the State canals." approved April 21, 1858 Since the adjournment et the last Ilegisla tore, catialuctory evidence having been given to me, of the compliance of tho Sunbury and Erie Railroad Company, with the conditions mentioned in the third section of the act referred to, the State Treasurer, under my direction, has delivered to the eompany the canal howls for two millions of dollars, deposited in the Treasury under the pro• visions of the said act. The railroad company has also become entitled to, and hos received, tine million of dollars of the mortgage bonds referred to in the sixth section of the coins act; leaving mortgage bonds amounting to two and a half millions dollars, still remain ing in the Treasury of the Commonwealth, to bo doliverod to the company, " from time to time, pare jeers,,, with the progress of the work, as as certained by the returns and eetiinates of the chief engilieCr of the said company." When the bonds, last tuentloned, shall have been surrendered to the company, as directed by law, the state will still I bold, as absolute owner, three rind a half millions of dollars of the mortgage bonds of the company, payeblo in the year 1872, and In the six succeeding guars, as mentioned in the not of Assembly, with interest, at the rats of five per centum per annum. payable semi annually, on the thirty•first days of January and July of mica fear. Intorested, as the Commonwealth is, in tho ugly completion of this important thoroughfare, it atiordr Ice groat plea sure to be ablo to inform the General Assembly that the progress of tho work, for the past year, has been highly satisfsotory. :rho Eastern division of the road, extending from Sunbury, in the county of Northumberland, to Wetham, In the county of Clinton, a distance of eighty ono mike, is finished; passenger and freight trellis passing over it daily. The Western division, extending from the city of Erie to the borough of Warren, in the county of Warren, a distatico of sixty•six miles, is OW completed, with regularpassenger and freight tralus now running over it daily. Making ono hundred and forty-so. von tidies of railway, along the lino of the route, that have boon already brought into practical ope• ration—ono hundred and seven miles of which, ex dusts o of sidings, wore finished during the past year. On tho intermediate portion of the line, be. twee,, the borough of Warren and Wethnin sta• Lion, a distance. of one hundred and forty miles, ninety•five mid u half miles aro graded, leaving but lorty-four and a halftones yet to be graded, to place the whole el the unfinished portion of the read in a position to receive tho superstructure. If no untoward event shall delay its vigorous prose cution, another year will not pass before the entire lino of the real trill Ito finished and in ties ; thus allotding a ilizaot and continuous communication by railroad from the city of Philadelphia to the harbor of Erie. By tho teenty-seemid section of the act up prol d the ljth day of Aptil, 18111, entitled "An not to incorporate the petinqlvania Hothead Com pany," it is piovidcd " that all tonnage, of what see; or kind or description, except the ordinary baggage of passengers, loaded or received at Har risburg or Vitt4burg, or at any internirdinto point, and carried or conveyed on or over said railroad, more than twenty miles, between the 10th day of March and the let day of December ' in each and every year, shall be subject to a toll or duty, for for the use of tho Commonivenith, at the rata of are Olt, per male for each ton of two thousand pounds; and it shall be the duty of cold company, between the :10th and :10th days of July, and be. tweet, the let out lath days of December, in ouch and Lvery year, after thlity mites or more of said railroad shall have been completed and in use, to cause to be made out, and liled with the Auditor cur rot, a I, cc and correot stetetnont, exhibiting the amount of said hilltop, so landed or received, and the dietetic° co carried end imivoyed, dating the respeetive periods intervening between the said 10th day.of March slid the ',lllth day of July, end between the wild 20th elJuly and the lst of De °ember, in ettela and or cry year ; which said state ment shell be verified by the oath or affir mation of the 'Tech log or tbrwardlng agent or agents, or other proper officer or °Meets, of sstd eompany having knowledge of the pre mises; and at the time of fille t ; wild statement, en ni before the said Uri) day of July, and the 10th Jay of December. In each and every near, the said comp my doll pay to the Wale !Preabnrsr the amount of said toll or duty Eli 11110,1011 g, for tllO use or the CGIMII O rIWr all h, during tile lezpecilve inter vening periods before mentioned " And. in a sup. plement to the act just referred to p 1, ,, ed on the same day, it wag further provided, that In moo raid company shall, ht any time, fail to pay the tell or charge on tonnage, 'whirl, may accrue, or be come duo to the Commonwealth under the provi sions of said act, the voice shah be and remain a lien on the property of the sold eempany, and shall have precedence over all oilier liens or imam broncos thereon until paid." By the not of the 7th of March, 1840, the tax on tonnage of Elven:11110 por ton, por mile, from the 10th of March to the let of December, was umlauted to a tax of three mills per ton, per mile, during the whole year. Subsequently, by the act ot the 7th of May, 1855, lumber and coal were made exempt from the ton nage tax. In pursuance of the provisions of the several acts referred to, the Pennsylvania Railroad Company has paid into the Treasury of the Comnionvrealh the following sumo, viz : For , the Neal rear ending November 30, 14.51, 17 , ; : 54 03 6.5,713 USA, 112 liso 3o 11,5.5. 129 2.51 •• 1.511, 22,1 MS 01 1n37, 171,933 16 4. 1030. 224333 02 Since July, 1858, the railroad company has re fused to pay this tax, and consequently there is now duo from said company, on that account, ex clusive of interest, the sum of $350,405 00. On the 21st of February, 1959, an account wits settled, by the Auditor General, against the coin pany, for the tax on tonnage, from the 21st day of July to the 30th day of November, 1850, inclusive, amounting to the sum of $87,375.22. Frtitn - this settlement, the company, on the 10th day of April, took an appeal to the Court of Common Pleas of Dauphin county ; and, in the specifloations of oh jeetions which wore filed, it was averred that the tax was unconstitutional, and an opinion to that effect, signed by eminent °mined, was filed in the office of the Auditor General, at the time the ap peal was entered. In August last, the cause was tried, and atter it full Investigation end argument, the constitutionality of the law imposing the tax was affirmed by the court, and a verdict and judg ment rendered in favor of the Commonwealth, fur the =omit claimed, with interest. The ease has since been removed, by a writ of error, to the Su premo Court of the State, and will, probably, be heard and determined, by that tribunal, in the course of the present winter. On the 25th day of August last, another account was settled against the company, for the tax on tonnage, from the 30th day of November, 1858, to the 20th day of July, 1850, amounting to the sum of $150,388.58, from which an appeal has also been taken by the railroad company, and which will probably be tried during the present month. As this question largely }zircons the revenue of the Commonwealth, and as the principle involved is ono of the first importance, 1 have deemed it a duty to lay before the General Assembly, somewhat in detail, the history of this tax, and the present condition of the legal controversy growing out of its imposition and enforcement. It will be observed that the plower of the State to grant chartered rights and corporate privileges to a ralload com pany, upon the condition that It shall . pay to the Commonwealth a portion of its earnings, in the shape of a fixed tax upon the freight carried over the road, is questioned by the company, and that, too, after the grant has taken effect, and while the corporation. is in the full enjoyment of all the bene fits conferred upon it by its charter. The question, it is true, is a legal one ' and its decision, therefore, rests with the judicial department of the Govern ment; but I have not the slightest doubt that the decision, when had, will entirely vindicate the right of the Government to impose the tax, and to compel corporations of its own creation to obey the law from which they derive their existence. When it is remembered that the tax was originally im posed in order to indemnify the State, to some ex tent, for losses which she was eure to sustain from a competition which was inevitable between the railroad authorized and her main line of public, works; and that this competition did, not only se riously affect the revenues of the Commonwealth, derived from her public, improvements, but ulti mately induced the sale of the main line to the railroad company itself, at a price many millions of dollars below what It would have produced in the absence of such competition, it is certainly not to bo presumed that the Commonwealth will will ingly yield her demand for revenue from this source, until she is, at least, fully indemnified for the pecuniary injury sustained in the depreciation of her own property, by her liberality extended to the company which now denies her power to en terse a contract, voluntarily entered Into, upon a consideration entirely adequate. The annual report of the Superintendent of Common Schools, with the tables and documents accompanying it, will exhibit the condition of the vast engine of social improvement to which it re lates engine number of pupils, in all the public schools of the State, is 631.851 ; of cahoots, 11,495; and of teachers, 14,071. The sande have been in operation, on an average over the whole State, five months and nine days. The average salary of male teachers is $24.36, and of female metiers $17.79, and tho cost of instruction per pupil fifty-three mints per month. The average tax for tuition, to , is 'about five and a half mills, and for building purposes about three and one-sixth mills on .the dollar. Including the city of Philadelphia, the entire coot of tuition, de., was $2,047,661.92; the building expenses, $331,413.85; and the whole ex pense ot the. system in the State, for the year, $2,579,075 77. Though the school year ending on the first Mon day of June last, was one of unusual difficulty in money Weirs, yet the system manifests en encour aging activity in all its departments, while the rate of taxation, both for tuition and buildings, would appear, from the official report, to have somewhat decreased. lint, it is by a contrast of the present condition of the system with that of 1854, when Dal - agencies now operating so benefi cially were created, that results are most plainly seen. Within that period, the whole number ut pupils has boon increased nearly one-seventh—of teachers, one thirteenth—and the salary of teach ers, the best index of improvement, one-sixth for males, and one-fourth for females. These results, with the others which the official report will ex hibit, unerringly point to the duty, as well as no comity, of the utmost oars and attention, on the part of alt public agents, to this primary social Lion—primary in importance, no less than In the career of each citizen. To strengthen, to retain pure, and to properly direct, this tocintain-head of eociiil influenue, to, it seems to tue, the great duty of the law-maker, in his highest and most respon sible capacity, as the framer of the future of the State, 8445,130 00 119 t2O 90 07 369 eou 00 IX,OOO 00 SD :ZS .0 67 6105.:20 00 23,357 12 A,AI3 Si LO 640,636 00 37,676 153 87 MS 200 00 WO OiX) DO CNA (Kra (X) 2i1,m3 Oo The attention of the General Assembly was called, somewkat at length, to the existing condi tion and further requirementeof our wheel system, iu the annual message of last year. It is not, therefore, necessary to repeat the suggestions and conclusions then presented. They are again, how ever, commended to your favorable consideration; the events and experience of the intervening pe riod, having Increased the conviction of their pro priety. This is especially the ease in regard to the plan devised by the net of 20th of May, 1857, for tho duo training of teachers for the cowmen schools of the State. A full supply of competent teachers is admitted by all to be the great need of the system, and the first want to be provided I for. Unerring indication', in every quarter, nut only establish this foot, but point to (he general adoption of the proposed tllOllll9, at no distant day The efforts of the teachers, themselves, for profes sional improvement, encouraged and sustained by all who duly estimate the value and influence of the toucher's office, not only foretell this, but the strong public sentiment in laver of institutions fur the purpose in question confirms the probability of this reault. In every quarter, indications of this kind aro perceived, more or lose strong in propor tion to the force of local circumstances. In the Second Normal district, composed of the counties of Lm waster, ncaster York, and Lebanon, an iustitution, up to the full requirements of the law of 1957, has been established and officially recognized, and is now iu successful operation, as a State Normal school. For its details the Legislature is respect. fully referred to the annual report of tha Superin. tendont of Common Schools; but, I should do in justice bottle intelligent enterprise which moulded, and the enlarged philanthropy which produced, this noble institution, as well as to my own feel' Inge, were I to forbear congratulating you upon the result. It is the first fruit of a law which seems to be as muolt in accordance with the cau tious, yet generous, character of our people, as it Is admirably adapted to effect the great end in view. All that seems requisite to give full effeot and general success to the plan is, at this juneture, to guard it from mutilation, or radical change. It the intelligent and liberal minds that aro now weighing the project, and contemplating its exten sion to other parts of the State, be assured that this is the settled policy, their efforts will be con centrated, their activity inereased, and final sue cuss bo hastened. Whereas, radical or important changes will destroy this growing confidence, crush the hopeful efforts now being made, and. postpone for years, if not totally destroy, all hop? of suectss in this essential departmept of public instruction The tree metro will he to cherish the law, and bring it into general operation, by holding out the certainty of State aid to each institution establish ed under it, as soon ae a certain number, to be fixed by law, shall have been legally recognised. and are in full operation. The money of the State appropriated In thie manner will ef f ect mere bene fit, in proportion to the outlay, than in any other of the operations of the system. The instruction of the child is n duty; but the instruction of the teacher is economy as well as duty. It will pro bably be advisable to make ouch appropriations, payable only when the schools are legally recog nized and in full operation, This course will have the double effect of guarding against loss by the State, and of stituutating ipto early existence a eufficiont pumber of institutions to supply the ex isting want in every quarter of the State. The period for the third election of County Su perintendents is rapidly approaching, and the pub lie mind will paturally be turned to the results of the office. My own observation, as well as inform ation from various and reliable sources, leads to the opinion that thin office, when filled by the pro per person, and Its duties discharged in full coin. pilule') with the design and spirit of the law crea ting it, has been of great advantage to the schools. Indeed, no candid person can deny the fact, appa rent to oven alight observation, that more improve ment has been effected in the workings and results of the system, since the creation of the office of County Superintendent, than in any previous pe riod of even double duration. It is true, that when examined by illOorripoteut officers, or crippled by insufficient compensation, little, if any, advantage has accrued. But this is no argument agelnst the office itself; and it is to be hoped that the directors of counties thus heretofore deprived of the benefits of this egonoy, will, at the next election, noting under the teachings of experience at home, and the light of success front other parts, correct this evil and realize the full benefits of this provision of the law. The increasing ease and soundness of our finan cial condition, will, at no remote period, justify an addition to the eonimon-sehool appropriation. The general policy of the State has been that each dis trict shall raise within itself the main support of its own schools; bat, an annual donation, distribu [ebb) amongst them all, in proportion to popula• Lion, has also been a part of that policy. The ob ject of this State grant comes to he two-fold : First --It is a tnoans of securing regularity in the pro• cm:dings and reports of the several districts, so that the Popartment of Common Schools shall bale the requisite information for the duo discharge of its functions: And second—lt lightens, in some degree, the burden of local taxation, to the relief of the poorer mill more sparsely peopled diatriots. An increase of the annual appropriation would en hanoo both •theito objects, and, whenever the fi nances of the government willjustify it, coin. mends itself to the favorable consideration of the Legislature. The aid whioh the Legislature hue hitherto ex• tended to the establishment of tho Farmers' high Sohool, of Pennivivania, stro ng ly eylneoe their high TWO CENTS. appreciation of the advantages which it is antici pated will grow out of that tastitution. While It must be admitted that knowledge is as essential to the art of farming as it is to ail the other employ ments of life, we cannot but feel deeply interested, that a community so peculiarly agricultural as we are should have all the advantages of an education which combines in itself as well the knowledge of the practical art of agriculture as scientific ac quirements In all those branches of learning which are especially applicable to its profitable pursuit. A school where agriculture is practically taught is a new field to which our attention has been called ; and ono which, because of its great importance, well deserves our attention. It embraces the prin ciple, that while yenta are 'taught habits of in dustry, they are impressed with the proud con sideration that the labor of their own hands con. tributes to their acquisition of knowledge. And thus, too, education is brought within the reach of many a brighti genius, who would otherwise struggle and languish for the want of the means of acquiring it Our school, within its limited means, has been in successful operation during the past year ; htv lug under its charge one hundred boys, who, while they are carefully instructed in all those branches of science which pertain to a high order of educa tion, aro daily engaged in all the practical opera tions of the farm—Siting them to return to rural life, and to infuse throughout the State an amount and kind of knowledge tihich must ultimately pro duce a most beneficial influence upon this most cherished branch of industry. I. he practical work logs of the school, for the past year, have impressed the trustees, who have it in charge, with the high est hopes of its complete success. The great in terest which is everywhere felt throughout the Commonwealth, In the further extension and pro gress of tho institution, commends it to our Care and protection. The State Librarian will report to you the com pletion of the descriptive and classified catalogue of the books in the State Library, authorized by the not of the 16th of April, 1855—a work, from the details it embraces, of much labor, but which will greatly facilitate the use of the library. It will be seen, from his report, that the origin of the library dates far back in the history of the provin cial Government; and that it received the fostering care of the Commonwealth during the period of the Revolution. It is gratifying than, notwithstanding the waste to which it has been subject in past years, owing to the want of proper attention—un der the careful supervision of the present librarian it has, since he has had the charge of it, nearly doubled its number of volumes, and now contains in all 22,000 volumes—the largest State Library in the Union, with the single exception of that of the State of New York. The collection of law books, and especially law reports, is considered by those competent to judge, among the best in the country. The library, from its intrinsic value and impor tance, and its historic relations, deserves, and I trust it will receive, the continued liberality of the Legislature. in my inaugural address, as well as in my last annual message, I expressed the opinion that our present banking system was extremely defective, and that, unless it wore radically changed, I should consider it an imperative duty to withhold the Ex ecutive approval from all bills creating new banks Without again giving in detail the reasons which influenced my action on this question, or repeating the suggestions and recommendations heretofore made to the Legislature, it is proper to remark, at this time, that my convictions have been confirmed, by time and reelection—that my opinions remain unchanged, and that I cannot approve of any in crease of banking corporations under existing laws. If corporate privileges, for banking pur poses, are needed to accommodate the business wants of any portion of the State, justice requires that such institution should be compelled to protect the community receiving its circulation, by requir ing that ample security shall be given for the prompt redemption of its notes, the sufficiency of which no act of the corporation could impair. All experience in this State, and elsewhere, has de monstrated that the present system affords little or no protection to notedsolders, beyond the per sonal integrity of the officers controlling the man agement of the Several banks. For a full exposi tion of my views on this question, I respectfully call the attention of the General Assembly to my last annual message. The reports of the Auditor General, the State Treasurer, the Surveyor General, the Adjutant General, and the Attorney General, will be laid before you, and will show, in detail, the operations of their respective departments for the past year. Deeply impressed with the belief that the pre sent mode of receiving, keeping, and disbursing the public revenue is entirely unsafe, and inade quate to the oomplete protection of the interests of the Commonwealth involved, I again respectfully, though earnestly, invoke legislative action on this highly important subject. The receipts and dis bursements of the Treasury are each, annually, from three to four millions of dollars. At times there is on hand a balance exceeding one million of dollars. Tho State Treasurer gives security to the Commonwealth in the sum of only eighty thou sand dollars. Ile deposits the money of the State when and where he pleases, and it is paid out upon his own check exclusively. Ills accounts are set tled by the Auditor General onee a month, and this is, apparently, the only safeguard provided by law to prevent the illegal use of the public fonds while under the control of the State Trem rer. That the Treasury of the Commonwealth has hitherto escaped from disastrous defalcation owing to the integrity of the officer, and not to the efficiency of the laws, sad while our main reliance in the future must be on the honesty of the' officers to whom the department is entrust ed, it is, nevertheless, the plain duty of the government, by proper legislative enactments, to prevent, as far as possible, the illegal, improper, or fraudulent use of the funds of the State by a faith less or dishonest public agent. I respectfully re commend, that provision be made by law that no money shall be deposited in any hank, or else where, by the State Treasurer, without first requir ing security to be given to the Commonwealth for the prompt repayment of the sums deposited ; that all cheeks, is,ucd by the State Treasurer Omit be eountersigned by the Auditor General, before they are used; and that daily accounts of the moneys received, deposited and disbursed, shall be kept in the office of the Auditor General as well as in the Treasury Department; and that weekly state ments of the balances in the Treasury, and the places and amounts of deposits, shall be kept in a book to he provided for that purpose in oath de partment. Tho ColurnissiOliera appointed in pursuance of the resolutions et the 19th of April, 1854, to revise the penal code of this Commonwealth, have presented to me their final report, which is herewith train witted to the General Aammbly. Its importance to our whole community, and the great labor de voted to its preparation, commend it to your early and earnest attention. The manner in which the duties of the commission hove been performed can not fail, in my opinion, to receive your approba• tion. 1 commend to your fostlfcre the State Lunatic Asylum at Harr ; the Western Pennsylvania Hospital for t rine, at Pitts burg; the Asylum for tile Blind, at Philadelphia; the Asylum for the Deaf and Dumb, at Philadel phia; the Pennsylvania Training School for Idiotic and Feeble minded Children, at Media; the Douse of Refuge, at Philadelphia; and the Western Rouse of Refuge, at Pittsburg. These excellent, charitable, and reformatory State insti tutions have done, and are doing, almost incalcu lable good in the relief of suffering humanity, and in the reclamation and reform of the erringyoung. They havestrong claims upon the continued bounty of the Commonwealth. The annual report of these noble charities will be laid before you, and will exhibit, in detail, their operations during the past year. I refrain from recommending, as proper objects for the bounty of the State, a number of benevo lent and charitable associations, equally humane and beneficent in their operations; because they are entirely local in their elaaraoter, and however meritorious their claims may be, and uoqaestiona bly are, upon the respective communities for whose particular use they aro founded and conducted, in my opinion, they have no claims upon the treasury of the State, which can be recognized with a just regard to the interests and rights of other sections of the Commonwealth. The editor of the Colonial Records and Pennsyl vania Arshivey has prepared a copious index to the whole work, which trill ha laid before the Legida tare at an early day of the session. This publica tion is row completed, and it is a satisfaction to know that tho records of the colony, as well as thoso of the State, preceding tbo adoption of the Constitution of 1790, era now of easy access to the public, and in a condition which renders their en tire destruction impossible. .T recommend that a suitable sum be paid by tho Commonwealth to the editor of tbo Reciords and Archives, for the work performed by him since the discontinuance of his Calory. I have so repeatedly presented my views to the Legislature, of the evil, arising from local and class legislation, that it is not necessary again to repeat them. I desire, however, to call the attention of the General Assembly to the feet that we have, on our statute books, general laws providlngfor the in corporation of railroad, turnpike, bridge, plank road, gas, water, insurance, nod other similar cora ponies, and that all corporate powers granted by the Legislature, to suoh companies, should be under these general laws, so that there may bo uniformi ty in the provisions of similar association, and that the time of the General Assembly may not be cc copied in passing bills of great length, when a simple reference to the detatis of the general laws would answer every purpose. The practice of sending to the Executive a large nuns or of bills hamodiately preceding the final adjournment of the Legislature is highly ob• jectionable, and ought, ae far as practicable, to bo discontinued. Its necessary conskluence is either to compel the Executive to approve hills which he has not fully examined, to sign them after the final adjournment, or, if ho disapprove them, to return them to the next General Assembly, with his objections—thus imposing upon a succeeding Legislature the final disposition of bills, with the origin and passage of which it had no connection. To illustrate the evils resulting from this practice, it is only necessary to inform you that, of the largo number of bills presented for my approval, within a day or two of the adjournment of the last Legislature, I em constrained, by a sense of duty, to return, with my objections, twenty-three to the present Legislature for reconsideration. It is apparent from the exhibit of the financial condition of the General Government, recently made public, that the wants of the Federal Trea sury will demand a revision of the existing tariff laws of the United States, with a view to en in crease of the revenue derivable from imports. When this revision shall take place, it 13 greatly to ho desired that a proper regard fur the industrial interests of the country will prompt the Congress of the United States, to place her revenue laws upon such a basis as to afford to our great mining and manufacturing interests the largest incidental protection. To substitute pacific tor ad valorem duties, on a certain class of articles which from their nature are of equal or nearly equal value-- or to charge the foreign to a home valuation—with a moderate inerease of the rates now imposed, would, I am satisfied, infuse new life and vigor into all the various departments of Industry. and, at the same time, without impaling burdens upon the people, afford to the General Government a revenue amply sufficient for all its wants The early admission of the Territory of Kansas as one of the sovereign States of the Union, tinder R Oenotitution legally enacted, and fully and tidily THE WEEKLY PRESS. Winuice'Paius will be Boat to Sebes:Ron by mail (per amnia, to edrarloa,) at 11.911 Throe Cori Bo," 1.041 Firs Ct . ridlat " IN Teo " ILO. Twesty Cocoas," (to see address) D a Tweet, Copies, Or '• Ito address of Isaiah !baboon bard Dash— For a Clab of Twenty-oda or ever, we Vie seed as extra copy to the getter-up oldie Cate Sir Pastmaatan ars maenad to Let as siesta far Tan Waspu Paris. CALIFORNIA PRES& lamed amt-moaulty Lit tuns for the CaLifurali Moamar& ratified by the direct votes of a large majority of the peoplq of the Territory, will remove tram the National Legislature a subject which has hitherto, in no inconsiderable degree, attracted the atten tion of the nation, and which, from the nature and extent of the diseus.ioos in Congrere, has been productive of much elimination sad recrimination between the various sections of our common coon try. Popular sovereignty having finally pre. veiled, in the full, free, and fair adoption of the fundamental law of the Territory. according to the wishes of the people, this vexed and dangerous question, in that Territory, may now be considered as satisfactorily and perpetually settled. Copies of the correspondence between the Gover nor of Virginia and the Governor of Pennsylvatia, on the subject of the recent outrage at Harper'e Ferry, are herewith transmitted to the Legislators". The letter addressed by the Governor of lirginia to the Governor of Pennsylvania, wan missent to Ifarrisonburg, Virginia, and henee 1113 not re ceived until the first day of December, one day before the exemation of John Brown ; and, there fore, it was impossible to reply to it, by mail, In time to reach the Governor of Virginia before the execution. The answer was consequently seat by telegraph, which will account for its brevity and aententious character. The recent seizure of the publio property of the United States at Harper'a Ferry, and the invasion of the State of Virginia, bye small band of despe radoes, with an intention to excite the Aare popu lation to insurrection, have drawn attention to the dangers which beset our Federal relations. It is a source of satisfaction to know that the authorities of Virginia possessed the means and the determi nation to punish offenders with promptness and justice; that the military force of the United States was a power immediately available to aid in putting down the outbreak against the public peace; that the stare population were contented with their condition, and unwilling , to unite with disorderly white men in acts of treason and reor der; and that the great masses of the people hare no sympathy whatever with any attack upon the rights and inatitationa of any of the States, and have a deep and abiding devotion to cur . great and glorious Union. To us, 84 Pennsylvanians, it is gratifying to believe that the citizens of this Com monwealth have not, in any manner, participated in this unlawful proceeding, and to know that when some of the guilty perpetrators were arrest-. ed, within our jurisdiction, they were promptly surrendered to tie justice of the offended and in: jured State. The several States of this Union are independent aovereignities, except so far as they have granted certain enumerated powers to the Federal theem ment. In canes not provided for in the Federal Constitution, the several States, in their relations to each other, ought to be governed by the princi ples which regalste the conduct of civilised na tions. These principles forbid, in all nations, "every evil practice tending to excite disturbance in another State;" and are founded on the maxim, that "different nations ought, in time of peace. to do one another all the good they can, without pre judicing their real interests." This maxim, re-mg nixed by all thecivilizel Governments, applies with beculiar force to the several States of this Union, ound together as they are, by a sacred compact for mutual support and protection: and : therefore, any attempt in one State, to excite insurrection in another, is an offence against all the Statee, be cause all are bound by the Constitution to put down each disturbance; and the act of Congress authorizes the President of the United States to call out the militia of the several Statea for the purpose. it is a high offence against the peace of our Commonwealth, for disorderly persons within. our jurisdiction to combine together for the pur pose of stirring up lasarreetion m any of the States, or to induce the slaves in the Southern States to ab scond from their masters ; andit would be proper, in my judgment, for the General Assembly to con sider whether additional legislation may not be necessary to insure the prompt panithemut of sash offenders against our peace and security. In determining our relative duties towards our sister States, the morality of servitude is not an open question, for we are bound by the legal and moral obligation of the compact of the Union, nu der which we have been brought into ex:steam, and preserved as independent States, as well as by the principles of international law, to respect the institutions which the laws of the several State', recognise,) and in no other way can we faithfully fulfil our obligations ac members of this Confede racy, a While I entertain no doubt that the great repub lican experiment on this continent, so happily com menced, and carried forward to its present exalted position, in the eyelt of the world, will continue, under the Providence of God, to be successful to the latest generations, it is the part of wisdom and patriotism to be watchful and vigilant, and to care. fully guard a treasure so priceless. Let moderate counsels prevail—let a spirit of harmony and good will, and a national fraternal sentiment be eultava• ted among the people everywhere—North and South—and the disturbing elements which tempo. rarity threaten our Union, will now, u they have always heretofore, assuredly pass away. Pennsylvania, in tae past, has performed her part with unfaltering firmness. Let her now, and in the future, be ever ready to discharge her con federate duties with unflinching bategitty. Then will her proud position entitle.her, boldly and effectually, to rebuke and assist in crushing trea son, whether It shall raise its crest in other States, in the- guise of a fanatical and irrepressible fon diet, between the North and the South. or assume the equally reprehensible form of nullification, secess.ton, and a dissolution of the Union. Gee central geographical position, stretching front the bay of Delaware to the lakes, with her three 'zil lions of. conservative population, entitle her to say, with emphasis, to the plotters of treason, on either hand, that neither shall he permitted to coerced; that it is not in the pwver of either to disturb the perpetuity of this Union, cemented and sanctified, as it is, by the blood oi our patriotic fathers; that, at every licriflde, and at every hazard, the constitutional rights of tho people and the States shall be maintatned ; that equal and exact justice shall be done to the North and to the South, and that these States shall be forever united, We, as a pcopl e, have great reason to seknowledge the Providence of God, who rules over the nations of the earth. Under Els guardianship, hitherto so signally enjoyed, we feel an unabated confidence in the permanency ot our free Government, and took forward, with cheerful hope. to a future glorious destiny. In the blessings that have crowned our own Commonwealth the past year—in the success that has accompanied all cur irdus trial pursuiL, - -• the steady advance trout educe• tional institutions—in the quiet and peace of our domestic homes—ein all that can advance a, nation's prosperity end happiness—we recognise the hand of the Great Giver of all Good WILLIAM F. PACKER. PERSONAL AND POLITICAL. A RAND ALT.—The ladies of the First parish, of Portland. Maine, have resolved to erect a monu ment to the memory of the late Dr. Nichols, for about fifty years pas:or of that society, and the money is raised for the r urpose. It is to be. we underttard, a statue of St. John the Eranrel:4, life sire, in marble, and is to be executcd by Akers, who is now in Italy engaged upon the work-. The genius of the artist gives ample assurance that the monument will be a worthy memorial of the emi nent divine in whose honor it is to be eruciLd. ard also of the afftionato regard of those who cause it to be done. Ee Gerrit Smith will go to Europe ae soon as he shall be sufficiently restored to health to bear an Atlantic voyage. Bev. Thomas Starr King announced on Sunday afternoon last to his congregation, as sembled at tho Hollis-street Church, Boston, Most , that ho had decided to accept a call to a parish in San Francisco. Ills reasons. in brief, for this course, were that his health had been impaired by constant tabor, and all the circumstances of tbe call to Califbrula were favorable. He trusted that his oonstitution would be invigorated by the cli— mate of San Francisco, and that he might be use ful in strengthening and advancing the denomina- tien in the Golden State. lie referred, with much sensibility, to the ties that would be sundered by the step he had determined to take. Alban Pabodie, who since 1543 has fined the office of city clerk of Proyideucc. , died in th a t city last Monday. death will be a lot 3 to that city. Foreign Items. A letter from Florence sketches the scheme on i t s which Fro 4 Austria aro said to be ft.rreca for the set of the Italian question Austria is to give sett which is to be declared independent, but governed by the Archduk., Ferdinand of Tuscany. Parma, .Slodet.a, end Tuscany, aro to be nutted under a French or Russian prince, to be s t rpointed by the Con gress•, and the Legations are to be re stored to the Pope, who is to inaugurate ouch reforms as will satisfy his subjxts. Tnis is said to be the preposition, but tlo tenter declares his belief that the time has passci for such a compromise. Speaking of the Rums;- nose, he says, , It is necessary to travel throogn the country, to mingle with the people of ell classes, in order to become aware of the deep root that hatred of priestly rule has struck throughout the Legations. It is necessary to see the daily food that the press of these countries supplies t.J popular animosity to imagine the outbreak that will inevitably follow auy removal of the chock that the hope; of better destinies still pats upon ti... 1 pasdons of the multitude." Spain has her work cut out in Morocco. Th-. 3 Government has given orders for a levy of 50.0.0 men neat month—a proof that it has undertaken greater task than was anticipated. Spain brt no glory to reap by the contest beyond the glory of lighting, for she has diAinctly pledged herself to the British Government that she will not, if EII2- cessful, take an inch of territory from the enemy We (liartirit Counties Ilerald) are informed, on good authority, that the Belgian Government has gii on notice to the Hanoveri Government t.) terminate the treaty relating to the Slade tolls. One of Queen Christina's sms has just entered the Military College of St. Cyr. Four young Turks, sent from Constantinople by the Sultan, are also among the latest enrolments Lie Noy,' says that the Duke of Modena is about actually starting a newspaper in the Italian lan guage, to be printed at 'Vienna, and to advc , :ate his claims. that press he abhorred. and that p.,b lie opinion he seamed, he 11,111 - humbly eapidtsat,:e as an auxiliary. Russell, the Time,' corresjondent, I. busy pupating his diary of the Indian campa•gn for publication, and it will be shortly issued, in two volumes, by MeEirs. P.ontledge. He has received 11,500 for the work. Col. reer, the T,r7e.e cur. respondent for the war in Lombardy. is n , i - e• about to poblish his letters, with connecting rum art , and additions. The Cormiiil /gazing is to have three serial stories running at once.—one by Mr. A. Trerop 4 l, one by Mr Tbaokerav himself, and one by a lady, name unknoww. It is to consist of eight Sheet; or 120 pates, with trio illustrations, and is to coil ens Alining. Of course it will need an enormot air` oulation to be at all renanneratillb