Lnans 10th of April, 1833, over - due temporary J$i00,000 00 -' Loonsot'Uih of iSlay, 1851, over1 due, temporary 101,000 00 Go rtiti cites of 'stock, loans of A- prll i.l34d, G per cent, 00,501 00 Certificates' of stuck, loans - of vurmus dates, 5 per cent, 0,310 04 It el i el nulos cancelled and de stroyed, . 373,040 00 lUiltuf notes jn Treasury, set uaide Jlbr cuieelutioti, 30,000 00 Totl, 1,01,807 64 A required by law, 1 directed the ccr titfcatca and evidences of this iudebted c&so. bo cancelled; and on the 10th ol September, lo57, ia&ued my proclaina '1k.ii declaring the payment, extinguish ment, aud dual dt:-chargo ol' Sl,U-life37.-e? til ot the public di-bt. In addition to the amount reported to by m the Treasury to the credit of the . i-tliking luud, and applicable to the pay . incut of the public debt, the commission via ol the luud now hold Hie sum of 87, 51111,000 bonds of the Pennsylvania Rail road Company, pledged by the law to the pnyiuout of tiie fuuded debt of the Com wuonwealth. " Hy the 4th section of the 11th article of thu Constitution, as amended and rati ,liid by a majority of the qualified voter. , of the State, at the general election held . , on the socoud Tuesday of October, 1857, it i-j jua le the duty of the Legislature, .nt its first session after the adoption ot .. this amendment, to create a sinking fund . . which ahall bo sufficient to pay the accru ing interest on the present public debt nud any additional debt thereafter con , f-titutionally contracted, and annually to reduce the principal thereof by a jum not les-i than $250,000. which "sinkig fum hail consist of the net aunusl income o 'the public works from time to tim, own od by the State, or the proceeds of the bale of the same, or any part thereof, and ol the income or proceeds of sale of stocks ,owned by the State, together with other . tunds or resources that may be desig toil by law. The .aid finking fund may bo increased from time to time by assign ,iK to it any part of the taxes or other icrcnuos of the State, not required for 11(0 ordinary and current expenses of Gov eminent, aud unless in cao of war, inva sion jr insurrection, no part of said sink ing fund shall bs used or applied other wise than in extinguishaeut of a public debt, until the amount of such debt is re duced below the sum of $5,000,000." Tht-! beinii the first session of the Les islature since the adoption of this amend ment, tho duty therin enjoined devolve upon you, and should be promptly and faithfully dichar2od. The funded and unfunded debt of the Stato, including temporary loans, on the Jt day of Ducmber, 1 riofi, as per re ports of Auiilor General and State Treasurer, was as follows, viz: FUNDED DEBT. r per cent loans, '.; ti it Toul funded debt, . UNFUNDED tiKef notes in Sol 1,781 00 38,Pfifi.901 50 ,uu nu 100,000 00 39,863,075 50, DEBT. circulation, $2-20,55ii 00 24,691 37 Ititerucl cerlifi citus outstund- ljture.-t cerlifi- cti.-' unclaimed, Dane4ic credit- U A u ice teipnr iry bun, April 14), IS53, Un4(Uice tempor ary Join, May H.l-?iil, Totnl unfddb'f, 4,443 48 1,164 00 400,000 00 1S4.000 00 834 859 75 I S40,701.8.l5 25 Tlie funded and unfunded debt, at the close nf ilie litsi fiscal year, December 1, 1357, was as tolloivs, ziz: funded debt. cent loan. 8115.160 00 V, per 4 4 J.4 385,200 00 xw.uuu " Toial funded debt, 839,705,592 52 UNFUNDED DEBT. 'RiilHjf notes in circula'ion, S140.431 00 Lrfterent certifi w cates outelan- ding, rlituresl certfi . cuius unclaimed, inetic credt'rs, ' Total unfd debt. 23:173 82 4,443 33 802 50 175,145 70 Tutal debt Dec. 1, 1857, Total debt Dec. 1, 1856, " 1, 1857, 39,881, 733 22 au,wi.oda 2D Decrease durino- the fiscal vcar 820 097 55 .... . . 'l .linen oJn(Ainnni0 nvihil" K n m Cm I o - ' ' flmt. ll.Nl d.irii.f Ififinncf f,s,-al vp7 H,o m.b- iHKC cKuuMKnio cAUiuii lire "rdlHVIi lie'debt bus been reduced ei-ht .hundred and 1 tAvcnty thousand, ninetv-seven dollars and K - i rt fifty-five cents. Duiing the same period lr;jc impropriations and payments were made nacuouiitoi our public improvements, for old and unsettled claims at; fjusied under the itlior nv!r:innliiin. act of lu&l s-ession, and for other ' ,u CV IPiirn frCS. - i i he condition of thn Trpnsnrv nrinr to MipI .. ,.r.- ... i... u...i. j i- i m justified the appropriation ofat least two bun-K dred thousand dollars more in payment of the " public debt, and arrangements were made by riie Treasurer, under the direction of the yoinmisiiuiiero oi uie ouiKing r uuu, 10 nnui- dale that amount; but alter the suspension, aim me cequeiu nnanc.a emuarrnssmeui nrm!niwlm0Hv:w.. payiiicm been made, in addition to the pay- 0 meats already reported, the statements and . final extimruishmcnlof the public debt would .' thus far have been sustained by their actual .. .:T "I'l.. ,l...t 1 . I. - I rr. teriiiuunuii. xuui.auottiiuiuruTcuiuuiieir i tl.,. Pti. ergy that has ever characteized the A-nericin tl people-ialtermg for a moment, but nut dt- "l" .ciirrniiriil m rnnspi! to inurR vlirnmi!.-! nf.rinii.f V !i,ni?ni. liv Iih ad verse circuiiiRtiineoa Uiiit : i.. j:. - ,i- .....i .ir.,n .... r,......,.-.. ..n....l " v - -pi uotimw u.iiu uuicuh wui jiiwivdo kuiiuui long ne ciiecKcu, nor our prosperity ong De j-i pro.viumg lor tbe safe ot tbe quired-to.pay into the Treasury one-fourth interrupted. Confidence, the seiisitive, yet Main Line of-t.be public worksftcr giv- of one 'per cent on their cflnit;i ! , werful agency, thbinds unit and- i. th,. notice required, bj laI ced ourcalidb strength, the great financial, commercial and industrial interests of our country and the id development of our resources during the the lust Quarter of a century the immenslv valuablo increase of our agricultural, mininc' nnil nmnutiiciurimr industry dnrincr. t he Hiime period the abundant harvests of the past 0 j 0t year our completed improvements, und ulM the elements ol material wealth in our midst, .u, .caiu.aiiuii .it an uany puriuu mit Vw mm.tt'tvil l?itiiriiiniT iviiihflnnr urill ht IIipI l.r.,. 1,1 ..I ..... t.. ......or.ni.:.. Tnftt?lh. Gtnn.l.nrr ll,nn tl... ..rn..nnt a.n ,n r am n I "-""""'a ,.i...-1...J. and gluumv condition of the country, alter a careful consideration of the present mid proMjeciive coiiilition ot the finances and re- sources of the Commonwealth, I cannot heal- tate to rcflirm my belief, " that the time is noi lar uiiaiu wuen j ciiiisyivauia win aiunu l.t.,.nnI (Vmn tint nnnP.KOfitrt ftf Itnn nnUIln i r- t . in immtji rt 1 mr(t lie nnnntinir ml nrukl - . nn..,h.i ihfi f.tith nml rmdit n,H Commonwealth," and that "by practising strict ecoiiemy m all dcpartnifints ot the Goveraient avoiding cxtravagrant expenui- lure refusing to undertake any new schemes of internal improvement, and holding to a ri- geu accouni,tu,iiiy uie receiving aim uibours- injr ajients r i. i:..: ..r these views may be anticipated with conn- UOUCC. As corroborative of the opinion now and heretofore exnrcssed. a brief review of the operations of the Treasury during the past three years, as connected with the payment of the debt of the Commonwealth, may not be inappropriate. In my first annual mes- sage to the Lecture the fact was stut-d, inat during me uirce years imerFenmg ue- tween December 1, ld51, and December 1, 1854, the public debt had been iecreastd 1,- 54,350 34; and that the total debt at the close of the fiscal year, December 1, 1854, was $41,603,5'J5 74. At the close of the late fiscal year, December 1, 1957, three years later, tne lunued ana untunueu ueot, as before showu, was $30,S31,73S 22;) do- - , I jjltf yy Pl Crease 111 Itiree years, fcl.OlO.OO Oi. Thus in three years the puolic debt has been decreased, by actual payment and with- r r I out resorting to the expedient of temporary lo.ins, Sl,sTo,857 52. If to this be added the sum 414,020 '2D, now in the sinking fund, and applicable to the payment of the funded debt, the reduction will be 2,231,- 777 81. world, has been suddenly impaired, producing t,0 cjty of Philadelphia, on the 25th day balance in htmncial and commercial distress, and anect- f T , , j BOid the same to the thirty-five inff the revenues ot the Gommonwea tl, ; but penn lpat3 ilajiroad Company, for the taiuly not Ihese facts are not only gratifying, bull,. . K ri,f.irjflM 1lUrupd n( fhr I It has already been slated I i. O...T.: n i.i . I J I iiiul iijuiu io hi uic oiiiKine x una iuc ouiii ui $7,500,000 bonds of the Pennsylvania Hail- road Company, bearing interest at the rate of five per centum per annum, payable semi annually, and pledged to the payment of the funded. If this sum be added to the reduc- . I ....I I nun Bcioie tiaieu, we hutu preseiueu iu ua at virtual, if nut an actual decrease, of the State of S9.73l.777 8l; showing the total funded and unfunded debt of the State on the first dny of December, 1857, to have been j)u1,.u,ui. -ai. c-mi u!:aia .11 Iu anticipation of tho sale of the Main T- f.l 1 . I It-.1L. i am inn iflr.rpin n infl Din n nn,. the State tax, by an act of the last reu- r , ar session was rcaucea irom tnree to two and and one half mills on tbe dollar; a reduction equal to one-sixth of the taxl'",!,ncd bJ tbe history of their conftruotiou imposed for State purposes prior to that act. These facts sneak for tbeaisclves. Well may the people be congratulated on such .. .. I. .1 I uuuiciuiuum wh"iuiuiut iu tue oru- 1 0 , CCSS OI liquiilation, and Well may tney with confidence anticipate the day of their eial and commercial etubarressm.nt may postpone-nothiug but unwiae lesisl.tion ditures during the past fiscal year will be presented to you in detail in the report of the Canal Commissioners. The total receipts at the Treasury, from I. ... - the public works, for tbe year ending No- . . . . . . . . I vember 3D. 185. including rceemts from the Maiu Line up to tho first dav of Au- Cust last, were 51.308,508.62. The atr-1 Urcgate expenditures for the same period u-rSI 31 7f)fi-R7 tho nvnnnditnrpq I.. , , vw u-.v-.w, ccediug the revenues $4,107.05- The receints nt the Tmaurv from the n.77:V"21 9 vJ.annnr.A rn ..:. iaiu Ljue to u i 1Q57 g7gtj 5i5u 33 su8quei,auna and North and West Branch Divisions 237,718 95 Delaware Division. 224,329 34 'PL. r ii. t .1 w: . xue icucipta irum iub xeiaware ui vis-1 ion are less than those of the rirevioiis year. The completion of rival railroads r I and other causes have lessened the re- ceipts from this important division ol our public works, aud it m feared will coutinuo to decrease tbom. its manage- MJ ment has been satisfactory, and compar- ed with other divisions of the public im provemeots, economical. The net revenue at the crease ,i,n rn',nta . ulu U1 iuo was paiu ior tne enlarge- ujcui auu improvcmup oi tuis division. na m w . . ! A. .1 T .. r.t- 5- I Thfl lnrlh Kron4i ll (AnJ m f l. il . . v. lUw Treasury, was $174,001.87, a de- and lbus by increasing the rate of ohar- Darrassmcnt, in millions, supplied the able information; and encouraged by their of 590,093.53, as oompared with ge ana tbe cost ot transportation, the means oi paying tbe overwbeiuimni,' bai, houoruble cxertious, the progress of soi- of the preceding year. In produco of the West is forced upon tho auees against us on eur foreign impor- eutific and practioal agriculture. Science eDnsJ.lvama Uanal, although so far com .nas ceased, its continuace can ouly be ' " mat uuaw ; i n r i 1 1 in r n i.. n n im-.k n. ni . i Ire,8utcu w,tu coal and otner products were succosiiuiiy passed through its en- tire lepgtu trom lJitt?ton to tbe Junction 1 I banal, yet in consequence of a largo por- linn .1.. l.n . ii . ttv . . I "uu U1 iuc - norae xvace yam ' uavini; Wn ...... U j.U r U.a t... uv.u vui i it;ii d .1 v n v iiii? I it. s 111. ill nsi : . . ' '. 7 " r - - - e' """"' uu vauai was sua- - 1 1 i h t nncmnuo rn i. . A n I m A . ... - S pa iui me jear. n , , . uu"g &ummer, and m tuV , uuIDes3 wb resumed along its entire lengtb. Soon after, tho same dam was uguiu exiensiveiy iniured by a sud- den and heavy freshet, and the greater part of the canal rendered useless for bus- to appropriation will be requir- an . .1 a,J.recou s ruttt he f . uuVuu uiui auu vaiua- P031 t0 be doomed' to failure and faster, iheso ore the fruits of former the u!i,"'uxwm,ui aua jrauu 1U IIS COU-ias .n n i. S t 1 5.. I - .i " 7 jj'tiv eiiurL una ucen mnnri i ir. 1? -CP-. i i . -. " "rTr ur C rr r.,tt:ilii:uv uuu warm mat pervaded the en - " " V4 Fu.w,l uuuer cire "ft euvwiui- iui ttc;0mplishcd. I tho t i - . i X pursuatun nf fhn not nf IRtl. . ....w v , n, ,tujf ui uug oi the said Main a Line to lo exposed to pur o Merchants' Exchange, in J IJC "sale at th ham l 00,000, the highest price bid "ie same, auu tue minimum price .-, f.i - fixed In the act. r After a lull comtihauc'e by the purcba- I V . sers with the condition of the act author- ;,;(? the sale, and the delivery of their bonds, in uuu-bcr and for the amouuts e- f n,i fij ., duc nt the . . nvovi- - . .... o . -r .i. Si a I Ul C UfcS , III V OU V I V. I U I V Ul Ulli VOU1U1UU- wealth,, on the 3ist of July, A D 18fi, aa uirectcu oy tne act, transferred, under the great seal of tho btale, to the I'epn- sylvunt a llaijroad Company, their uc- Lessors or assigns, the whole of the Main i Jjq 0f J1C public nnblic works bntwcnn Phila- . . i v. i i ui i i ir ii i. i ii. r. ii mi niir.i i:i. in ai in 4iiiiiitiiiiiL:iiiY 111 u v uuu 11 in tii ' v t l in: 111:1.1;. t w w m r"wf ------ . " 1 l n x( I A 1 . -1 ,4 l titilrnilf rttnl uemauu, ol tue uommouweaitu oi renn- sylvania, to all property, real, personal, 1 .11 .1 i auu mixed, DCiouijing to or used m con- nection with the same by the Common- wealth; and the purchasers havinir given uoticc of their readinesn to take possess- -n nf tho rniifl workn. no.ess on of the - i r- same was accordingly delivered to the , c - . . , 4 I . . . . it of wbtcb notice was given to an superin- tendcuts and agents ot the LOinmonweaitb by proclamation, bearing date the 31st day of July, 1353, as required by the iaW authorizing the sale. n'llfl hond of the Pcnn-rlvania Rail- foad Coiapaoy, in tho sum of $7,500,000 Pnna;v(.d bv tl.,. fimtn 'IVrr. and V, ,'V. 7T - - - are biu uy ntm tor uie uomu!igioners oi toe oinmug ruuu; tue euure prooeous oi the 6ale being required by tbc wtu see- lion of the act to bo paid to tho oiuking Fund and applied to the pnymeut of the gtate debt. to secure their conversion into .-perie on I cannot forbear cotKrratuIafini? theLf.m.,n,l trWl, n.nnur i!,;f,5 I - O I v - J4 M U v- j ltbU&.IVLVr4SI Ui I fiJllVUO CI U 14 J t nnl. nf thp nnrntnmiKmillh nn Ihn Cnn.L..;n.;nnu I ...f....ll.. . r T " L. , 8UU,luauuu 11113 sulv' 1 uu,,u .... , . 1 u ..I. tUn i.Mnf ). .....1 aa clJIW,!U l"luulju lul- u;'"" UU4i in other forms equally significant demaud it public policy aud the interests of the Comiaou wealth required it. It is done. The many approve, few complain: those mwf itn kfivu rrnino1 on it n 11 im n 1.1 or rnn. I ..,..?... .... I... ..n Ma n.I..K ... . 1. . V . I uuuiiu luicicoio, j mihuhcu m un- - - i i i . travagant, useless, and fraudulent cxpen- ditures of the public monoy for selfish or partisan purposes Tho sale of the Main Line has directed public attention to the importance and . ... . . . . ncocsojtv ot disposinir ot the remaining j;:.:... r ..ki; ;nmFnan,nn)d T. rannu n, . uft nrf . , , , ,,itt:jlrt Jua""ru " " ' , Vr IT, ' wi TJ ii auai rorce 10 tue t-aie oi tuu oiuer. ue fT nnnlv nt f.nn:i r n 1 1 n it t h t -i tn 1 mill TUP care and control of the public works is not r . ...:i t .1 ti- . t : . n - "'" ' v..-i v. uu Puuuv numu lu v. . on y euueni to a wno nave gi.en rue -wji' u-t iuj.h.i ation, but the DecesHty is clearly estab management. Tbey have failed to oe 8 source oi revenue to tne uororaon wealth anu if retained by tho State, will rsnnirA !n P rno Tifl 1 t-urii in thmr mniir n rl - ......... . . . . . . " ... i i j- . f"1"1111 .argv.-. PKuiug inj rar- Unue that under tbe moSt favorable- cir- In any phase of the question this scpara- tioo is desirable, but in connection with r n..UT;n Aa,t ,! reduction of State taxation.it hceomns an nhirM.1 nf morA thnn nrdinnrv nlar Aaleatthe earliest practicable period. -1 - - - ..... - I I of the whole of our public works, for a a M. r i and liberal to tbe purchasers, and at the aamr time amply'protective of the rights and interests ot tno people, should be author- zd by the Legislature. Such sale.with 1.1 I . " n . I a . lQe application or tne proceeds to tbe r . ii is. i payment ot tne purine deot, would secure orc rapid extinsuishtuent. The subject is recommeuded to your unbiased con - ideration. 'lhelaw incornoratintr thn Pnnsvlvn- r a j I nia itoiiroad Uompany imposed a tax ol three mills per ton per mile, on all ton- nn i.nimr nvr th,) mnrl on n nn.nr. ajent for any decrease in the revenue ol the Commonwealth, that might arise from the anticipated competition of the road with the bu-iness of the Main Line of the nnhltn im nrnrmm 'Pi.:.. . :.. . i,uv"u iiiijjiuiuujcuis, xuia iuz. i uoi impwauu upon iuc coraDanv. Dut unon tonnage, and it is paid by the owners of j i i I luc freight transported oxer the road, the compauy acting as agents in its collection and payment to tbe State. It is virtual- a ldx upon ine traue and commerce ot t"0 Vjommonweallb, and upon the com- merce of other States whose productions scc a eastern oiarUct over this road 4-" ",a"ki;w -"au our own. xue v.nc - a. Ik.l ..... ; . I t"oc,lj' -ua cijuireu una taxr as regards i l t O I Ue tJOIHIUOn tW:iM nd lrt r J 7 x. T "w ."v.m.m - - '"' - - - ".uub uiauiu. u, auouiu isiiiipii n i Four. rniA m n n ini 1.1 1 ri e tue policy 01 tue Stato to invito tbe irausmision or tue products ot other states tbro u-iu her territory to her own market, and, therefore, the propriety of - K..: .1.. . . . . . I W J - - 1 lc,;v,,,o luu irauc nu Dullness ot the mnmn,nnrralll, n.wl r . L vvwuivui t-miu auu vuuiiLi v irm i mis iht i ....... I unnn u n rnEHArtr t n chIhi.iKa ia. r - auummi; im yum -uvU in consequence ot the suspension of specie payments by the banks of this aud al the other States of the Uuion, and tbe fi- uancia embarrassmnnf nd .nprnl nm... tration of business, I deemed it mv duty call, as authorized bv the (lonalituiion ' J - extra session of the Legislature, to meet at Ilarrisburg ou the aixth day of uctooer last. Although the relief bill provided by this extraordinary session ol General Assembly was not a3 ample .. . . tlio psianncr nt tUu mun r..r. . -w umd nrninnhrn n i...c. : .i . r MU' Wl I'oimuciai re- community. Jiy the act providing iuc resummion nt nppi nnomont K banks nil h --t """iiiu i iSLiiuLiuiis annrn. .1.- : ; J? . f iuc urov'i.-ions or that law wern I . J X - auuiLAH ITHI IT II" bonus hasjno,ilyerr.aycdiaIlWthc-cx pcuscs of that session, but will leave a the .treasury of not iess than thousand dollars. a result cer- injurious to the finances of the Commonwealth. -m .1 r-z iiy ymwa ezpreaseu in loriuer cumuiu- ntcations on the subject of .banks and banking capital, m their relations to the I w currency aud general interests of trade remain unchanged. However diverse our opinions may be on this subject, it must be adn, tted bv a that the Lank ni? and J ....D i : - . MCU Willi IUU UUSIIICSO UlIU UUUIIUVIVi; Ul the country, that their sudden separation or a rasu innovation, wouio produce con sequences of leartul magnitude. lbat the proent system of banking is perfect is not pretended; that it could be esseu- tinllv modified and imnroved wil not'bu I . . I All f lii tiitlf tFl ! Vt tl nil fTI I I Cnrrlill t Iwi nnnnJ I J J DO - - - Miy oi reiorm, not oniy in tne system id I 1 . l t i i sen, out in uio management or our Dauu- lng-insinuiions Unlimited credits by corporations or individuals have, and ever will be an un mittigated evil. They contribute to bank exnans ons. rash sdbou at ons. extrava gant living, and excessive over-trading; i ' r , 1 r n it 1 i un . .t . i i it vuisions. vuac cno remeoj suouid be l do not deem it my Drovince. under exis- ting circumstances, to suggest; but to be permanent and effectual, it curt accord with the natural and necessary laws of ir,l Tl. .,rn,. r n nnil(fD rn., L0 exception to these laws, aud should be f, tn n,..;r .....I aI r. .. - - v w-t.wu u vuuu., PU ii as may bcoousi-tout witu toe public good. it m, tberelore, that a system ol treo bauk- hug, based ou utuloubtcd public seourities, and coin in such proportion to circulation and depotit as may be deemed sufficient wuiCu Fi01srduiB to cne present system. Its introductions would I ..... .- . . correct many existing abuses i.et only the system itself but in the Drecnt mode of banking. These quertious, how- CVer, with tbe remedies iieci-ssary to tre- vnni r,.fMirr,.ti... nf il.n n.l.r ...o. i . .t. . S.I. . t. ....i e ,kri;f if tllt . ... '. . J .1.. . .1 -. . . I I - L . 1 I yet h reuuireu or ojiuss oiihb ijoiii- . . . . . ujouvealth, to suable them to reouwe tW payment of their liabilities in specie, are an roierreo to ine wu-uom oi tne ijeai-ia i Ij.i ri r.t 1 ! ture- They are practical uu j important business questions, and as such tould receive your intelligent consideration. lac present condition of our Comrson wealth and country deserves at least passing remark. A severe financial , . . , . - i a r vuisson nas occurred, lnrtnmmr a .xusnen- aion ol specie payment bi specie payment by the bank, not . . . ,. , . ., nn v ni m .h uow mon we air n. nuioi an ine - Umon.deraDiDff the eurren cy and affecting disastrously all the great iuterests of commerce and tbe industrial pursuits of the citizen. Laborjs without a - employment, and thousands of strong, ac . , live men are now a?kiDjr for work or The causes assigned for these e , . , . vna are aimoai as various as ine mit-rctis nrpiiidirP nf Wp vchn unrlAroWn L?K !f Tf !,W 1 " 1 f 1 " tuuii i;.Mnjainjii. a. u inuiieiui uuusu ui ii 1 r. i ? UbCi5 ? oe " ci- ther just nor proper, to charge all our nuam uuuuciui uuu commercial uis- tlwaa tu "uv: "ailJia dUU LUUir muSB ment' -OWCVCr mUCIl tliey may liaYC A T T 1 .1 , . ! ,1 , 1 ' , utucr causes nave operaieu i:il I r . . i I 1 f 11 i I SMU more uirecur ana powenuiiy to pro i i . ji ii uui:i luUaU rBU"i "uu among lucra nrsi 1U au luuuo,"'B lh LUC Pie- ent system of low duties, in connection ' nuuvuoiug ojaw,, bu-u ua uiu poucy oi me uenerai uovurument III XO-iU. J.11U auUUUOIlIUeiH OI Hie MIL- .1 .1 i . i' il tcctivo policy, as embodied in tue tariti act oi io'i, was resisted ny rennsyiva- tno ixri f J, n I I 1 C 1 t "ill t 1 .. I 11- 1 , TT il win nmu u uuumiiuy uimvou uu 'uium-i- ICtl in Ur History. Her represcnta- tiyes in" both branches ot the jNational - , . . . I uuuo1,iM ou,;uuuu3,J ufTacu tuu -vVM r fchafc acfc- Tiie wils under whiuh wo are nOff SUllerillL' Were Predicted, as a consequence of such repeal. But other euuu&uis picyanuu, tue act was repeui- uu anu lue muuscry oi tno country cx- P0M;a 10 a ruinous competition witli tlie chenn lnhnr nf fnri'ifrn ruifinns Tim rlis- r o wvus --uona ui mC icuvm nciu uuaiuuu- ua DJ tue operation oleauses well under- i, . .: - i oa oy every mtrligent citizen. lam- inc aboard created an unprecedented de- maun ior our oeaastutts, ano tne gold oi vai"UiUlil n"ugu ii, uiuy uavu uuueu 10 lue excitement oi our progress, and contributed its full share in producing cx"ug uiiauciai anu commercial em- stem of ne-M"w uuubb, tue uAcesja oi impris over ex- fujw "uo uccu ueyoua ine iDost cxtrav- ... I L. 1 1 xl. . . . I nfr.1 Tit: irii n t nf fin nnn no Thnn l,n,r 0 - -. j. - ocen enormous and ruiuous destrue- UUU1" auu luvoivuig rn rr oninncf in mriuntH.. . 1 . . 1 . r . 1 tlie uomc manufacturer and homo labor n one common run. We have impor- ted more thau we cou d nav for. nml Un much more than we needed. Penusyl- j -r w- - - T vania smounus m iron ore. iron and its I A. I , . luuiiuijuiui t--i ;iii 1 1 1 i ( r rnirn rnnn no i n I I . . , ' .'v "6"'-" - nnrioni ninmnni.i n u.. i -1 1.1 i i..u.n wv,.utUi,3 ui ucr mmuriai wea I a..u i.u.m ner auuuuauoe, ii properly protectea Dy a wise nation- PollcJj CQuM suphr the markets of the w0"ds; and yet since tho passage of the act of 1840, we have imported of iron u.iu BM-ei, uu uieir manuiactures, more umtod; and whilst the art of farming and than two hundred millions of dollars in nil that pertains to the management, bus value, paid for in gold or our bouas and iuess and work of a farm, will be tbe sub- wV, uu.u uj luicigii capitalists jeet ot instruction, the natural sciences, the interest on whiuh but adds to the bur- in their relation and application to prac deus imposed upon us by our foreign in- tical agriculture, will also be taught. debteduess. TJie same is true of mauy. The student of the institution will be ena- uiu r imporpiDt oraches ot home mdus- icry. luauy millions in value of cotton fl ml ... n n 1 1 1 , . , " I .uii:,, guous ave, during the same , I,. .uiporteu, mat suouid nave ucuu uuuein onn own workshops, should nave been woven on Amerip.nn und nn .i,:..l tj.. ' . - xmcucu or merman looms. As an example of tho practicul work- njj ot the system, , official documents ex.- ,UH. tas.luring tue-pas!--lour years, the iroporjof, foreign merchandise 1e2eelded'ouriesports6H1d"hUlTdfe'd, and ciglity-four millons two thousand seven huuurea auu sixiw'iuut collars; and & a consequence, the draiu of -the precious metals wits correspondingly great. The amount of specie sent out of the country during that period, was S213364,384; specie imported, Sab,yi4a7: leaving a balance against us on specie account ol $196,430,957. This depleting process aggravated by excessive importations, un settled the currency and induced an in flated paper circulation, resulting in bank suspensions and financial embarrassment But tho evil does not end here. An in flated paper currency, by cheapening the prico of money, increases in this country the cost of production, and thu, whilst the American manufacturer is expocd, under a system of low duties, to a ruin ous competion with the cheap labor of Europe, he is paid for his goods in a cur rency lc&s valuable thau that paid to hi foreign competitor. As a necessary re sult, tho homo fabric is driven from the market, aud the homo manufactuicr ru ined. The operation of these causes, ftimulatcd by low duties, is sufficient to destroy tho industrial energies of any people. AYith these facts before us. it is no matter of surprise that our mills, facto ries and furnaces have beeu closed, aDd tbousaud of honest laborers throwu out of employment; that commerce baa scarce ly an existence, that bankruptcy and ru in are around us,and our general prosper ity paralyzed. To avoid these disasters, to which we have been periodically ex- n....l. rpfopm nnt. milr in Ai,r nt - j . . uoiiKing, duiid our revenue liwa, oecomefi inuipeusauie. 1 te principle of the act ol tisd been preserved even if its rate o! dutit been reduced, our specie by millions wou!d uot uaVl gone ,nSo foreign coffers to build uq and u,tin the foreign man- I f - Q Jhirpr hn. ;n.l.ufrn ni.l.l h nrn3. j ? j ; - r; peruns, una me cry we warn worn, is- I ..: . - .. .l i: . : i " iuuu-iu ups iu um large cities and manufacturing districts, would not now be beard; nor would a foreign f "early five hundred million ol dollars exiat to btHrtlc and slarm us. I 'I'luif. HViktiMIl tli;if rirnntleatlv nrofi.rj fnr- eisn to home labor. that kcews our work- i r. i e i m i- i IIknTllII H . II rilTUI L 1 I i t 1 1 fI llllllll flllfl "i'-' -p-i -v . , ..,- Uv .1 i .1 . . i 11 upporting tbca here that takesour goid to P' tuc wages of the Briti-h laborer, wiiiist our o-n are vituout employment and without bread, that fills the coun try with foreign Dicrcbahdise to the x elusion of tbe home fabric, that laj9 the British rail upon tbe road through our iron districts and by our rolling mills. whilst they are silent and deserted, and that invites to speculation and extrava gance, is at war with every true Ameri cau interest and should be at once aban doned. A period of low duties has always been marked by excessive importations, large exports ot specie overtrading bank a n expansions, and suspensions, and finan cial and commercial revulsions. Under the protective policy these peculiar and startling characteristics of free trade have all been wanting. ihe history of the country establishes these facts. A well regulated tariff, adjusted to proteet the productive industry of the country, is not only tho true policy of the government, but is a better regulator 6f the currency. and a more certain security against bank expansions, 'than any f-ysteui of pain and 1 1 punatio!1 ?e devised for the control of m banking institutions, or the operations ol capital. To this wo should return. Peon- sylvania is yet true to lierancu nt aud long cherished convictions of its proprie- aDU necessity. one may nave Dei-n ,maicd. .Political and partizan pressure Pro-l,,,nv hri fnrnpr frrtin lior lr.u ..Xt'. . - . . . This was her misfortuue. not her fault. she sees and feels tbe wrong, and with - au CUlPUaSlS. lUieUSluCu DV BCT UllUriCS. w dcuiiind rcdrux.": nrolRntmn fnr hnr . ' atlf ftnd the p roat indnstrinl inmotx of ner people The acr trv slinn rt p.vp.t Iih fnxtiTnri Jtnri ii.innil by the State. Tbey are fir.-t in necessi- ty and useiuincss, and eoiu-titute tbe ba- sis ot State aud JNutioual prosperity. Up- on their progress and development, de nmrJ t),n ,..,... nf ... l ijreuu mc outiicso ui uui uicuuuuiuui, uiuu uiaciurini auu eommcrciai interests. a Agriculture, iu its varied and multi phed relations, is the unfailing source ol National wealth, and to its promotion ull should contribute. Individual enterprise ana liberality, otato and Uounty associa tions, have dono much to advance this important branch of productive industry; have collected aud circulated much yalu and art have nobly proffered their aid the State should not withhold her eneou - raemeut and support. . TL 1 J J .1 . A uavu uvru luiu. u i ucuuimenaea uie es tablishmeut of an Agricultural Bureau, in connection WHU some one ol tbe State De- -.1 r n . -v partments, to give efficiency to tbe col leetiou aud diffusion of useful knowledge ili;u oi,;.,t l,,, M, i,n ,, cessitv and usefulness of such a Bureau f ' 1 I4IM UULIL Vkl A. u II I 1 II 1 llli AX mnin imrnnsi b rppnmniwnd i in mnr . J J ioiwiuuih vuuaiuariiuuii i I .. ... .1 .. . . ... t --. . - " in hnrmi-ps' Htir h mo ot Ppnn sylvania," an institution incorparated by the Legislature iu 1855, is entitled to the especial attenliou of the friends of Acri- culture. In the tcaehins of this intitu- tion, the scientific and the practical are able to test, in his daily occupation, the truth and value of tho knowledge com- O municatod. Much of t10 iand connected with the MuooI wn .1 1 , successlullv cultivated auniig iuu n year, vjreuarus or eve rus or rv variety of fruit and hedges have been planted, and many valuableiuinrovements made. A doubled storied barn, lareo and convenient, as also the farmer's house and. harCof'tfildnbnildiniFB havS "been Tsrcc'te'd andoccubitM. lrom tbe report ot tue trustees wo learn that a ''coLtrect has been made foi the erection of an edifice calculated for th residence of Profcfis'orsj Lecture Haifa and Dormitories for students, to be built of stone, four stories high, two hundred and thirty-three feet in'Tront, with wingrf; aud to cost fifty-five thousand dollars. This building is already in prOgfeaa) ihd it is hoped that a part of it may be put under the roof and be bo far completed as to enable the Board to make arrange ments to reoeive a few students before tbff close of tho ourreut year." The Legis lature, at their last session, appropriated fifty thousand dollars to this institution one half of which has been paidj the re maining twenty five teousand dollars Id be paid on coudition that an equal sum be realized from other sources, within' three years from the passage of the ac4 making the appropriation. The objects and character of this insti tution its relation to agricultural knowl edge, and as the pioneer in the great work of agriculture education, commend) it to the geuerous patronage of the Legis lature, and to the confidence and liberal ity ot the people ot the (Join mon wealth. Ihe report to be submitted by the Su perintendent of Common Schools will pre- eut a clear and satisfactory atement of the general operation of the t-ystcin du ring the past year. Ihe separation of the school from the State Department, by the aet of the last session, was a just tribute to the import ance and value of our Common School ytcm. Tbe great educational interests- of the State, the care and guardiaunhip of .! .-. ,!. 1 fl 1 ,- iue intellectual, social anu moral improve ment ol the youth of tbe Commonwltbr should occupy a prominent and independ ent position among the Departments of the (jovernmcnt. It the care of the trea sure of the Commonwealth, the dcvelopa- 111 cut of her material wealth, and the ad vancement of her political-economical in terests, bve received from tbe boverB- ment the marked and distinctive recogni tion of their importance; how much moro bould the mind of her youth with its wondrous activities its constantly unfol ding energies, and it infinite superiority to the material aud physical, claim a tilk higher consideration, and rccaiva from, tho lifipreseutatives of tho people, a more honored recognition. As an Independent Department, great er efficiency will be g.ivcu to the system a aore direct aud iuediate perris ion will be secured the details of its op eration more carefully ober;cd its de ficiencieneies discovered its errors cor rected the accompliebmeut of noble pur poseB and objects rendered more certain and the sy.-tea itrlf saved from tbe dan gerous and debasing influence of political exeit ment, and partizan prejudice. Tbe County Superintendency, tested bj experience, has realized the juet expecta tions of the friends of the measure, and. may now be regarded as a permanent and) independable part of the system. When committed to competent n.en, it baa ac complished a noble work in promoting the success and usefulness of our Coal men Schools; and wherever tbe duties of the office have been faithfully performed, the character of tbe schools baa been ele vated, their number aDd the number of scholars increased, and tbe confidence nd encouragement of the public secured. In the bands of incompetent men, these re sults have not been obtained; but on the contrary, oppo.-ition bus been provoked7 and the cau?e of common School educa tion retarded. This office should not bo committed to any but men thoroughly qualified by education anu experience for' tbe performance of its arduous and re- ponsible duties; and if the School Direc tors of auy county, iu disregard of their obligations, from opposition either to thfr system of the office, select an incompe tent person lor tue place, the odium f ihe aet, aud of failure to secure the bene fits resulting from a proper and intelligent adminintratiou of the office, should rest upon them, aud uot upon tbe law author izing tbe appoiutmeut. The defects of tbosystem when clearly establishedjshouldy be promptly corrected; but change is not always reform; aud innovation, induced" by selfishness or prejudice, may endanger' its permauency and destroy its efficiency. The Act of the 20th day of May, 1857, providing for tbe due training of teachora for the Common Schools of the State, by eucouragiug the establishment of xSoral Schools within tho Districts designated in the law, has received the cordial appro bation of all interested in the success of our Common Schools. The passage of that act inaugurated a uew era iu the his- tory of Common School education in Pennsylvania. It is a movement in th right direction; full of encouragement, and hope for the greater perfectiou and use fulness of the system. Large and enthu siastic meetings of the friends of educa tion have been held, iu many of the districts, to promote the establishment of Normal Schools, as contemplated by the act; and liberal sums of money have been sub.-cribed to secure this desirable object. A uoble work has bceu commenced; and: sustained by individual enterprise and' liberality encouraged by the State, and vindicated by its own intrinsic merit it must go ou uutil State Normal School, in number auu emciency,-equal to the supply of well fraiued teachers phall be come the just pride and boast of Penn sylvania. The organic structure of our system-ii as perfect, perhaps, as butnau legislation can make it; hut it needs the competent and thoroughly trained teacher to give it" greater vitality aud efficiency, and secure' the full accomplishment of the purpo&uj; of iu creation. The teacher, the proper ly educated, the well trained, the scien- tific teacher, is the groat want of thesjs-. tern. We ueed the teaching mind, no the antomaton movements of mere physic al organization or antiquated routine, to direct and control tho intellectual ener gies of tho youth of the Commonwealth.. Wo require mind, educated mind tn our school?, that knowledge may bo eocamu- rnun,cated, not only effectively and ptac- IichiiV- uuv. uiat.iu irsiugioe jounj,,taji
Significant historical Pennsylvania newspapers