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Clenotcb to News, Literature, p Mtn, Science, litecl)anics, 'Agriculture, the Wiffusion of Useful information, izenerat 3ntdlicience, 'Amusement, „Markets, &c.
VOLUME M.
THE LEHIGH REQ '
,•ie, • , o ,ugh of A oum, Lehigh
County, Pa., et)ir.y Tuefday
BY AIJC.IISTIJS L. RIU.BEE,
At $1 50 per annum, payable in advance; and
$2 00 if not paid until the end of the year. No
paper discontinued, until all arrearages are paidi .
except at the option of the proprietor.
AntIitTIBINENTS. flaying not enore_than one_
square, will be inserted three tithes for one dollar
and for every subsequent insettlob twenty-five
-cents. Larger advertisements charged in the
same proportion. Thohe not exceeding ten lines,
will be charged seventy-five cents, and those 'mak
ing six lines or less, three insertions for 50 cents.
la 'A liberal deduction will be made to those
who advertise by the year.
Office in Hamilton Street, next door to
Stem's dllentown hotel, (formerly )
-opposite Schnurman's Store.
.3t312/11111 VC aalu.
The Sheriff' of Lehigh county will put up
the folloWing properties at public sale At the
time- and places hereafter mentioned.
Ori Thursday the 25th day of January,
nt 1 o'clock in the afternoon,a certain lot of
ground, situate in Washington township,
bounded by lands of John D. Bowman and
Jacob F. Hailer, containing 3 acres and 20
perches, on which is erected a one
ito story frame Dwelling House, and a
"' ' Stable, with all the outbuildings. It
being the property of. Daniel Breyfogel.
On Friday the 26th of January, at -the
house of Charles Hiliel, at I o'clock in the
afternoon, a lot or piece of land, situate in
South Whitehall township, bounded by
lands of John Shoed, George Situ
.
ler and others, containing 2 acres,
••••
ovve'.• on which is erected a one story log
house and a.log stable. It being
the property of Joseph Wenheim and Aa
ron Kepp.
On Saturday the 27th of January, nt the
house of Jonathan Kolb, in the Borough of
Allentown, at.. 10 o'clock in the forenoon,—
,No. 1, a tract of land, situate in Northamp
ton township, bounded by lands of William
Eckert, Daniel Zeller and others, containing
53 acres, on which is erected,-
;; ; . a two story stone dwelling, and
a one and a half story house,
• ' ° ""- -2 :- a frame barn, Woodhouse, and
other outbuildings, an orchard of the very
best fruit, and a well With good water, in n
, high state of cultivation. It lays about half
a Mile from town, on the Reading road.
, -Ne.,2—a lot of ground, situate on the cor
ner of Hamilton and James streets, in. the
Borough of,AllentoWn, bounded by lot of G. ,
,Toiras,COrittitning in front 43 and in depth
230 feet.. • It is one of the most valuable
lots in the Borotigh. It is the property of
Peter Iltibef.
On Saturday die 27th of January, at 10
o'clock in the forenoon, at the house of .10-
nathan Ko/b, in AllentoWn, a valuable Tan
nery, situate in Water street in said Bor.
ough, bounded by lots of Paul Knauss and
D. Wagner, and a poblilo alley, containing
in front 100 feet, and in depth 230, thereon
• • is erected a ttVo story frame
Lim . house, 2 stay stone barn—the
tifit, tannery contains 42 Vats, 14 of
which are Under td. , s. a
pump, bark mill, all propelle. f rse
power engine, bark sh . 5 feet ength,
a two story currying op, the tannery is
arranged-upon the ne est. plan. It is the
property of Charles An fess.,
On the same day and at the same time
and place, will also be sold a certain hit of
ground, situate on the corner of William and-
John streets, bounded by lots of Samuel
er and Charles Blorper, containing
. i v in front of William Street 67 feet,
nut ' and in front of John 62 feet, there
on is erected a two story frame bull=
ding 10 feet front on john and 40 feet front
on William street, a two story frame shop,
well, and other outbuildings. It being the
roperty of William A. Elliott.
On Wednesday the 24th of January, at
O'clock in the forenoon, at the hotise of
el Wesco, in Lower Macungy township,
ertain lot of ground, situate in said town
ip,.bounded by lands of Michael Bastian.
• Kristian Weaver, Jacob Seipel and others,
• • containing 73 acres:- more or
. less, on which is erected a one
• 11.11... story Log House, Mime Barn,
-.:• and other -necessary outbuild
ings, there is a valuable Iron ore. : bed open
1313; it: Iris the property of of Messm. Frey,
• , Wagner and Huber.
CHARLES IHRIE,
,P-3w
January 11.
UMW' ll'ltlitUtc)
The undersigned give public notice,that
they, have entered, into Partnership, in
Jkleramtile,.buiiitess on, the lst of October
endlastend are trading under the firm of Mertz
41,Landis. The establishment is ppettcd in
the,old• stand, which hp been tebuift,
hive just received Old are now opening a
very heavy stodk of GaAs. t • • •
Nov. S.
Read, Sam 8, 1849.
ro Me Sends and. House of keprettnia
lives of Me Contmonweallh of Pritn
-- sylvanim _ •
FELLoVir-CiTizEus:—ln performing the
responsible duties enjoined by the Consti
tution on the Executive of the St: , a sin
,zere pleasure is felt_in_addres: ngs a he
commencement of each sessiin of t • I
Legislatures the immediate rep esentative:
of the people. To present t. them n
faithful candor the true position 'tic
affairs, to suggest remedien for known
wants, to eid in the enactment of such
measures as the interestsi happiness and
welfare of the citizens seem to demand, is
not• the less gratifying that it is made the
duly of the Executive department. The
events of the past' year will not fail to
teach us the lesson of an overruling Pro
vidence and the gratitude we owe as a
people for the blessings which, through the
wisdom of .Almighty Goodness, have been
vouchsafed to the nation. When the re
presentatives of the people last met, there
existed between our country and a neigh
boring republic, a fierce and bitter war,
The result, indeed, was not doubtfuls for
with a people justly .celebrated among na- '
lions, for their unconquerable bravery, un
surpassed skill in military affairs, and their
great superiority over their enemies in
physical and mental qualities, victory was
the necessary consequence; yet, the un
decided contest was a source of profound
regret, for the sacrifice of homan life, and
the expenditures of public and private trea
• sure necessary to the re-establishment of
our own peaceful relations.
It is therefore gratifying to know that
the war has fully terminated, and that
Peace, the rational desire of all,' sheds
again its blessings on every portion of our
country. To the Almighty Father, who
in mercy turned the hearts of the rulers of
both countries, to lay aside the sword, to
' cultivate the spirit of brotherly kindness,
and to estafilisli peaceful relations between
. the citizens o their respective govern
ments, we owe the deepest and most fer-
I vent gratitude. abundance of our
harvests, the blessings continued and
general health, and the prese • lion of our
Lcivil and religious rights as gua tied to
is by the free institutions o our coma ry ,
while destitution, misery and convulsed
overnments, and precarious civil and re
ligious institutions harass the people of
other land:, produce in our hearts a fervent
acknowledgement of his superinteading
kindness and mercy.
In the late contest with Mexico, this
Commonwealth was called upon by the
National Government, to furnish a portion
of the troops deemed necessary by the con
stituted authorities to carry the war to a
successful issue 'tion it
is scarcely nett nmon
wealth cornplit which
has heretofore mg her
sister republics • force
was instantly j of the
National Govei itter of
just pride to t , that, in
the discharge of every duty, these volun
teers maintained the honor of the State,
and the renown of their country.. The
citizen-soldier who fortunately escaped
death, his returned to his family and
friends, after having earned for himself
and the State a reputation for undaunted
bravery, for enduand patient suffering,
and manly and heroic virtue, that the f -
tore annalist will delight to record.
It is due to these patriotic citizens, t at
this commonwealth do some act as kn c
knowledgment of their past illustrious ser
vices. To the memory of the dead who
fell in the service of their country, it is
the ddty of the State to erect a suitable
anlment, that their bravery and virtue
may he enduringly remembered, and their
heroic sacrifice emulated in other times,
should the honor and safety of the co ntl~y
hipire it from future generations.
!Nine.• j uirtiment of the , last Leg,is
ht,,i.,•; Executive Officer of the
Cottomm w. alth. the late Governor Shook,
ben..aill the malady which then
afflicted him. -11. died on the 20th day of
July, IS4B.
It will not he deemed improper in tne
to say a few cords 'in reference to the
characlef• of the illustrious deceased.
The late Governor Shunk hating spent
a large portion of his life in the public ser
vice, and having•mingled much with his
fellow-citizens, was well and extensively
known throughout the State; and it is
with pleasure the circumstance is recalled
to my mind, that at one period of his. life,
I had the honor tb enjoy his iniltriate per ,
sonal friendship. :1
' During our inti Macy, it always gate
him great pleasure
,fb aid • and assist the
young, and inesp,s:riehbeci, ielieve the
distressed, and to impati, to his fellow-men;
by words of kindness anci deeds of Charity;
as large a share of happirNs as his condi
tion would ,allow. ~ •
,His iiriteicourse•with Otitis was courts
tfus,'llja rep.. hitting,. his sit 4
tdehlncetti sting and andaringi while;
ELI AS mtatrz;
BENJ. LANDIS,
GOVERNOR'S MESSAGE.
_ALLENTOWN, LEHIGH COUNTY, PA.; JANUARY 18-T849-
his resentments for injuries were transito
ry, and made no permanent impression in
his bosom. It may with truth be said of
Governor Shtink, that he was a sincere
friendy a good neighbor, a pure Christian,
and an.honest man. Such'Was the reputa
tion he sustained among his felloW-citizens
vhen - '-vti'macy with him gave me a
,f his character, and although
of political views separated us
years before his death, his
later period of his life, have
cony that the same purity of
A desire of well dhing remain
. until the hour of his dissolutioh.
The L islature is respectfully ihvited to
take sucl actioreir-f•latittreirthe deCease
of the fir t Chief Magistrate of the Com
monwealth, whose death occhrted during
the period for which he was elected, as
may he deemed most appropriate to express
.its sympathy for the sotro*. and bereave
ment of the surviving relatives, and to
testify its respect for the memory of the
virtues of the distinguished dead.
Pt ior to the decease of Governor Shunk,
on the 7th day of July, 1848, as appears
by the records in the State Department,
he resigned the office Of Goternor of this
Commonwealth, and thereupon, under the
provisions of the 14th section of the 2d ar
ticle of the Constitution, which declar.;s,
that "in case of the death or -resignation
of the Governor, or of his removal from
office, the Speaker of the Senate- shall ex
ercise the office of Governor. until abother
Governor shall be duly qualified," the du
ties of the Executive Department of the
Government devolved on me.
Official information of the act of resi'
nation did not reach me until the 1
day of July, 1848. The 'section of
constitution herein referred to, also cle .
4, in reference to the same subject,
" in 'such case another Governor shall
chosen ‘rthe ittlit annual election of '
presentatives, 'unless such death, resin
Lion or removal shall occur within tilt
calendar months immediately precei ing
such next annual eli-ction ; in which case
a Governor shall be chosen at the second
succeeding- annual election of Representa
tives." By the 34th section of the act of
the General Assembly relating to the elec
tions of this Commonwealth, it is providsd
that" in case any vacancy shall occur in the
office of Governor of this Commonwealth,
more than three calendar months next pre
ceding the second Tuesday in October in
any year, it shall be the duty of the Speak
er of the Senate, or v&hoever shall be in
the exercise of the office of Governor, to
issue his writs to the Sheriffs of the several
counties, requiring them to give the usual
notice, that an election to supply such ya
cancy will take place on the second Tues
day in October next thereafter; and when
such vacancy occars within three calendar
months before the second Tuesday in Oc
tober, it shall be the duty of the Speaker
of the Senate; oh whoever shall he in the
exercise of the office of Governor, to issue
his writs as aforesaid. requiring notice of.
such election on the second Tuesday in
October next, after the issuing of said writ,
and in each case said writ shall issue at
least three calendar months before the
election," ,
An examination of the constitutional
provisions of - the4ct of Assembly, and the
circumstances of the resignation, will
satisfy you, that while the resignation oc.:
curred more than three calender„ months
before the next annual election of Repre
sentatives, it took place at a time rendet
ing a compliance with the act of assembly
in relation to the issuing of writs, utterly
impossible: In this view of the case, it
might have been deemed a compliance
with duty to have refrained from all inter
ference in the matter, inasmuch as events
had put it out of my power to comply
with the terms, of the act of Assembly,
directory of the mode in which the con
stitutional provision on the subject should
be carried into effect.
After a full and careful examination of
the whole matter, I belit;ved it my duty to
issue the writs requiring, notice to be given,
that an election would be 'duly held on the
second Tuesday of October nest then en
suing, for the electiOn of a Chief Magis
trate of this Commonwealth. It appeared
tome, that in till cases of doubt; there was
no safer resting place than submission to
the decision offthcpeople, and that in the
construction of theNlaws, relating to the
!Mint in question, if any doubt arose, the
bettter course in a republican government,
was to refer to the citizen voter the 'tight
of selecting at the earliest period his• pre
siding officer, rather than assume a position
which would continue official statlbn in
myself, beyond the earliest legal ()Oporto ?
"nity to surrender it into his hands; The
organic law required the election; and. the
Legislative enactment should be ; .so Cnti4
strUed as not to 'Contravene the. Constiiii;
tional provision. Had 'the terms of the
Constitution and laws clearly given a dif
ferent position to the 'question, however
unpleasant the task of performing the du
ties of the offic6; Without. the . endorsement
of the peppl i es villl;they would have been
felt fulls! exectited.
In assurning,.as Speaker of the Senate;
the exercise of Executive functions, al-
though not deeming it absolutely necessary;
prudenbe suggested the pizpriety of being
sworn to a faithful . dlicharg e of the Eke
cutive duties ) and an oath to that effect
was administered =to-me by the honorable
the Speaker of ,the House of Representa
tives.
A law requiring in all cases of death of
resignation of the Govetnor, or of his re . -
moval from office;that writs to the Sheriff's
of the different counties shall be issued as
soon as the Speaker of the Senate shall be
officially informed of such death ; resigna
tion or removal, and requiring, furthet,
that the officer assuming Executive func-
Lions should be sworn in, the same manner
and to the same effect as in case of a Chief
Magistrate inducted into office, determir
ing also the person authorized to administer
the_oath, would obviate future doubts, and
the same is respectfully recommended lo
the Legislature.
It is worthy the attention or the Legis•
lature and the people, that no provision
exists in the Constitution, in the contin
gencv of the death or inability to 'serve, of
the Speaker of the Senate after the death, '
resignation, or remchal of the bOernor,
for the selection of a presidigrnagistrate
Such an event happening, the DiVernment
would be left without a constitutional
officer to carry on its opetations. An
omission of such Importance . shottld be slip
plied at the earliest possible period.
• esolutions expressive of the profound
sorrow of the legislature, for the death of
that illustriods patriot and sage, Jtal l
Quincy Adams, and of condolence for quo
family in their beteavement, Were passed
by that body al its last session : and the
Executive was directed to transmit the
same to the widow and family of the de
ceased. The letter of the late Executive
in the performance of that duty, and the
reply of the•t:enerable survivor, ate here=
with transmitted.
The attention bf the Legislature having
been called to the neglected and suffering
condition of the insane poor,--of the State,
an act was passed on the 14.11---ffay of
April. 1845, providing for the establish
ment of an asylum for this unfortunate
class of our indigent population, to be Inca
ted within ten miles of the seat of govern
(
m . The commissioners named in this
. et, with funds contributed for the purpose
' by humane and benevolent citizens of H.ar
'sburrr., aided by a liberal appropriation
me from the treasury of Dauphin county ;
purchased a farm of abobt one hundred and
thirty acres, eligibly situated within a mile
and 'a hall of the State Capitol. In Janua
ry, 1816, these commissioners made a •re
port to the Legislature, in which they
stated, that on a critical ekamination of the
aforesaid act, such defects were apparent,
that they did mit conceive themselves
justified in proceeding with the building ;
ca. in making any expenditure of the such
appropriated by the State towards its eree
lion, Until some modification should be
made in the lave under which they were
actina: To remedy these defects a sup-
plernentary act was passed, on the 11th day
of April, 1 . 848, upon which the commis
sioners forthwith adopted measures for the
commencement of the work. 'A plan . for
the proposed building was adopted, a con
tract was made with an experienced archi
tect and builder for its construction. A
Considerable portion of the itiaterials, as I
atn r informed, has been provided; the ex
cavation of the cellars and -Inundation has
been made; the laying of the stone mason
ry commenced, and hydraulic apparatus for
raising water to the building nearly com
pleted. Of the appropriation on account
of this building, a warrant has b.&en 'drawn
for $5,000, of which only $2,726 05 has
been expended. It is hoped and believed
that the work will be forwarded with as
much despatch as is consistent With pru
dence and a proper regard for the comforts
and restoration of the afflicted insane poor.
Ity the act of the 4th of May, 1844, en
titled " An act to provide revenue to meet
the demands on the Treasury and for othi.r
purposes," certain banks were authorized
to subscribe for a loan to the common
wealth, to an amount equal to a fixed pet
tentage therein stated on their respective
capitals ; the amount of such loan to'
placed in the Treasury for the use thereof,
in notes of said banks, of the denomination of
one,.two, and five dollars. By the terms
of the law, the loan was redeemable at, any
time within five years, and was peremptory
that it should be paid, and the notes author.:
ized to be issued, withdrawn from circuity
lion on,or belore the 4th day of IVlay i .l§46.
The act also provided that the banks isaning
said notes should receive thein at at Value
in payment of debts due their , institutions.
(It was thought, thrit by mak • • 'their re
demption dependent on the, a . of the
State, as well as on that of the b nks b
which they were issued, a sale and •Ii: • e
currency would be.coitstituted; while the
state would be hirgely benefited by a loin
of one, instead of five per cent., as on pre
siOus occasions.
. The notes thug issu'ed,were substantially .
the creatures oi the b . :dila. They constitu-
ted a loan to the commonwealth, 'were
required to be paid into the Treasury . in
the manner prescribe'd in the law, and
were redermahle at their par value at the
counters 'of the hank : and the ... /..irfunl-.
stance of the faith of the State in additign
to that of the hanks, being pledged for their
redemption, could not raise 'a . rational
doubt of their constitutionality. How far
a subsequent ad, passed the 31st day of
May, 1344, by relieving the banks from
all responsibility touching their redemdtion
and payment, thereby making them an
issue on the part / Ed the Commonwealth,
Treasury alone, contrav
ened the Co.. /lion of. the United States,
n /i
it is not nece ary now to decide.
Under the rovisions of the original act
of the 4th of ay, 1841, the amount of
notes issue&,was•two milliontwo hundred
and twenty thousand two undred and
sixty-five dollars, which w specifically
ei l i
appropriated to the suppo rt of the govern
ment during, the year, th payment of the
debts, and other special' purposes therein
mentioned. Within two years thereafter)
the sum of one hundred and thirty-five
thousand two hundred and fou eeh rs
of said issue was funded by th banks nd
converted into permanent loan at five per
cent, By a resolution of the 6 F brit
ary, 1943, and the act of the t 1 o pril
of the same year, six hundred and eighty;
two thousand . eighty-seven dollars were
cancelled and destroyed. The act Of May
31st, 1141, is as follows:—" That the
State Treasurer be ; and he is hereby author=
ized and directed, on the last days of June;
September and December in the year one
thousand eight hundred and forty-four, , to
cancel and deliver to the Audit General,
tr..tisa
for destruction; fifty ous collars, and
on the last day of Ma ti, June, September
and December in every year thereafter,
`ls?'' sand dollars of the notes issued by
the c 4 .s of this commonwealth, in purl
suance of the act of the 4th of May, one
thousand eight hundred and forty-one, that
may then he in the Treasury—and if said
notes shall be depreciated, then of the
'most depreciated—and continue sb to do,
until the whole amount of the notes le
'gaily issued, by the Banks Di aforesaid,
shall have been cancelled and destroy
ed ; and the amount deposited to the credit
'of the Commonwealth in Banks or savings
Institutions, or received by coilEttors on
the rail roads and canal's, of by the Treasur
er of the City and county of Philadelphia,
shall he deemed as money in the Treasury,
and sit: ject to the cancellation, as afore
said ; and it shall be the duty of the Audi
tor General to keep and publish quarterly,
in at least one newspaper in Harrisburg, a
record of the notessd cancelled and destroy
ed, designating the bank or banks' that
originally issued the same, in order that the
one per centum interest thereon may
cease ; provided, that it shall be the duty of
the State Treasurer td retain the• several
amounts respectively, out of the receipts of
the quarter, so as effectually to secure the
cancellation of the amounts herein before
provided ; and the sum of one hundred and
sixty thousand dollars is hereby appropri-.
ated for4he payment of-domestic creditors'
certificates issued by the Auditor General;
provided, that there is sufficient money in
the Treasury after paying the seVeral other
appropriations in this' act." .
at t h,
tit
It was doubtless the intention of the
legislattite, that the atm of fifty thousand
dollars should be destroyed quarteriY. Un
der this act the sum of of ! hundred thou
sand dollars was cancelled in 1844.; the
further sum of eighty-five thousand dollars
in 1845 —the further sum of orte N hundred
and seventy-six thousand three 'hundred
dollars in 184.6—0ne hundred and fifty
thousand dollars in 184.7, and one hundred
and eighty-nine thousand in 1848.
The following tabular statement will ex
hibit, with more clearness, the whole sub
ject in relation to the issue and cancella
tion of these notes:-
Original amount of relief notes is
sued, /2.220,265 00
Amount funded, - 135,214 00
Cancelled in 18.14 by virtue of the '
resoluthin of Feb . rnary 0, and Act
of April Bth 1841,
Cancelled in 1844, ander the Act
of May 31, 1844, 100,000 00
Cancellei in 1845, under act of i 844 , 85,000 00
Cancelled in 1840, Wider do: . 170,300 00
Cancelled in 1847, Under do, 150,000 00
Cpncelled in 1848, under dO. 189,000 00
• 81,517;601 00
Leaving apparently itt eirculatiOn
on the 31st December, 184 S, .
The first failure to comply with
the Act of Assembly requiring the
cancellation of. these notes, was
prior to, or on the 3184 Dee., 1844.
The amount directed to be
cancelled in 1844, and
• 1845, and which was
,
not done, was . 5105,000
at of failure. to
cancel in 1846, was
~,
The amount of failure . to
cancel in 1547, was ,
The amount of failure to
cancel in 1818; was
, If; is vfortby of remark, that had the
cancellation of the notes' been made, u re-
.--- . .
ill
quire • the law, less than half a milhott
of the or ginal issue would now be in ex
istencP, a large portion of which has,
doubtles., been mislaid and lost. It will.
be perceived also, that the act requires the
destruction of the most depreciated.' Irk
being this term, the legislature must have
intended fbe" --- teed....jihe. laws
le mos
, rect of these holes havirinir.,.. _
of the State for their redemption,
it is t read' y seen how they could be
ei r6
-
co depre is e in value, while on the
of er han any of them had become de
faced, nd Unfit for use. At the pas
sagen) of the act of May 31s 1844, about
fourteen hundred thousand d liars of this
issue were in circulati . ow as it required
the cancellation and destruction of two
hundred thousand dollars per annum only,
it prolonged the period of . their circulation
to seven years, when by the original act of
May 4th, 1844, hut two years remained of
the period of their duration. To the act of
May 31st, 1844, is attributable, therefore
the continuance in circulation of the
on the 's
the fait
notes; alter they had become torn, defaced
and unfit for use. The original act, had it
not been counteracted by subsequent legit) . -
14iod, provided the 'necessary means for
fife redemption 'of these notes, through the
banks, on or before the 4th day of May,
184.6, and the failure to destroy them, as
required by the act of 31st of May, 1844,
Clearly demonstrates that the treasury has
not been; since then, in a condition to re►
pay the loanor redeem the notes. Hence,
tidy have continued in circulation, have
been paid into your public offices, and
again paid out of the treasury, until they
are wholy unfit as a currency for the
citizens. The amount now in circulation
is presumed to be about six hundred thou
sand dollars. It is respectfully suggested
that the.worstof these notes, as they are
paid into the treasurys should be retained,
and in their stead, an equal amount of new
notes, of the same denominations, under an
arrangement with any of the banks of thii
Commonwealth, he put into circulation tor
a period of time, so long only as may be
required by the quarterly destruction of
fifty thousand dollars, to absorb the whole
amount of the issue. A measure of thii
character would relieve the currency of
those unfit for the use, and have the effect,
in a short time, of patina. the whole issue
out of a circulation. I ° would earnestly
press upon the legislature the passage of
such laws as would prohibit in their mu=
tilated and defaced condition, their pay
ment from the treasury. Should it be
deemed a more desitable course, to rid the
currency of the entire issue by a loan •
might be a fair condition o f the renewal o
the charter of any bank at the present ses
sion, that it make a loan at a. low rate of
interest to the goverhment, to be used in
..
redeeming and cancelling the - whole, or
stich part as might be deemed advisable.
Any arrangement on the subject you May
devise, to relieve the people of this cutren
,cy-ohall receive my cordial approbation. -
The payment of the interest on the pub•
lic debt in a sound convertible currency,
is bf great moment to the credit of the
State. This demand on the treasury has
heretofore, to a large extent, been met by
payMents in'depreciated paper, by which
the holders of State bonds have suffered
pecuniary loss.
An evil of this nature, demands a Speedy
and effectual remedy. The relief notes
originally intended to be temporary irr •
(heir existence and local in their circula.
iion, should not be forced•from their legiti=
mate purpose, or paid from the treasury, in
discharge of the interest of the debt.
No7great in convenience could be felt
in withholding an amount so small as their
preSent circulation, from such application:
To secure an object so desirable, the 'reven-,,.
ties of the State should be collected in such
funds only as admitted of ready converti
bility. into specie without loss to the treasu
ry. The relief notes i as well as the notes
of all specie paying Banks of this Common
wealth, should be received in payment of
public dues, while other paper money;
under par, at the place designated for the
payment of interest on the public debt,.
Should be refused, unless, upon notice to
(hat effect of the gtate Treasurer, arrange
ments by the Banks issuing, the same were.
made to redeem it at such point as
he might designate. The State Treasurer
Should be authorized to require of those
specie pa y ing banks, whore notes might be,
tinder par at the place paying the interest,.
to make ..arrangements to redeem their,
notes at p a r , at the point designated, and,
on the ir 'failure to comply, to demand
specie funds at their counters. It is believ-.
ed that an' arrangement of the kind. sug-.
gested, would materially aid in rendering
the notes of all the solvent banks in thei
Commonwealth of equal value in all parts
of the State: would increase their general.
circulation among the citizens, and tend to•
exclude the depreciated paper of foreign
institutions.. A measure valuable for these'
purposes, which would give. increased
worth to our stocks, and- enable the State ;
more faithfully, to comply with her . -.con%
trichOs worthf t the serious eonsiderifitni,
of the LtgieKture... . .
... . •:•...,-.:,5.,,,itit
682,037 00
702,001 00
23,700
50,000
11,000
$249,700 00
2452,064 00
MI ER _l5.