7 1-13? LJ IH
M I worn upon the Altr of Oud, eternal hoifllUf to every form of Tyranny over the Mind of Mun." Thumw Jollenmn
Iff. WEBB, EDITOR AND PROPRIETOR,
Volume L. '
rTflr""
OFKICK-OF THE DEMOCRAT
orr-osrrs Sr. Paul's Cuuncit, Main-st
77i COT.UMliM DEMOCRAT trill be
published every Saturday morning, at
if it DUI. IjAUN per annum iiaiabl
half yearly in advance, or Two Dollars
rijty Lent s,ij not paid within the, year.
lo subscription will be taken Jor u shorter
period than mx month; nor ana tliscon
liiuimxee per milled, until all arrearages
are disrhargul.
nn:UTlSli)li:SS not erceeding a
square will be conspicuously inserted at
One Dollar for the first time insertions,
and Twenty-five cents for every subse
quent nsertion. Ji.j .7 liberal discouu
ma le to those, who advertise hi the year
LEI 'TftRS addressed on bminesii,must
be post paid.
Governor's Message.
To the Senate and House of Ilcftewita
tives.
Ckntloen: The general heilih of die
penile, die rich rewardj of husbandry, ihe
quickening spirit thai pervades trade and
industry, die enlaiged prosperity of our
country, and it advance in moral and in
tillectu&l allainirun'.s, these, under a just
sense of our dependence, swell our grate
ful acknowledgements, at this time, to Him
from whose beneficence they all proceed.
Nothing has occurred since the adjourn
ment of the Legislature, to interrupt the
harmony or check the energies of our
Commonwealth On the contrary, intelli
gent enterprise has been every where
crowned with success.
The exertions of our people to meet the
engagements of the Stale hate thus far been
successful. The payment, by a numbni
of Counties of die whole amount of thcii
lazes lor isio, several monnis neiore trie
time at which they have heretofore been
collected, added more than $300,000 to the
effective revenues of the year; and the Urn
legislature having excluded certain classes
of debts from the claims to be immediately
providod for by the Treasury, we have
been enabled to pay the interest which fell
due on the funded debt within the past fis
cal year. On the first day of the present
Session, the balance remaining in the
Trcasttiy was about $025,000, which wih
the accruing revenues will be applicable to
the demands of the first of next month.
We have thus the reasonable acd gratify
ing assurance, that the interest will then al
so be punctually paid. The public debt of
Pennsylvania, on the first December 1815.
ns appears fiom the report of the Auditor
General, was as follows:
Funded Debt, $3G,C3'.i,2G7 43
Hclicf notes in circulation, 1,258,572 00
Interest Certificates out
standing, with interest
thereon, 2,R8,803 30
Due to Domestic Creditors 1)3,750 i'3
$10,986,303 22
The interest upon which
according to the Audi
tor General's computa
tion for 1810, is,
The balance in the Treas
ury on the 1st of De
cember, 1811, was
The receipts into the
same, during the year
ending on the 30th No
vember last, as appears
in detail by the reports
of the Auditor General
and Slate Treasurer,
were
2,023,990 09
$603,851 88
3,010,062 24
Making an aggregate sum of $3.673,9 1 4 22
The payments fiom the
Treasury, during dm
same period, were, ac
cording to the reports
of the same officers, 3,289,018 13
Which being diducted
from the above shows
the balance in the'l'reas-
ury.on the 1st Dec. 1843, 384.886 09
Being less by 278,905
70, than it was on the
1st December, 1811.
7'lie nelt amount of availa
ble outstanding taxes on
HL003ISI5UIU;, COLimillA COtXTV; PA. SATURDAY.
r f- Ti"-"- fiWifTiiMn iTTaii:irMrihii;"ji'Ti"i '.".'j -."j.rjr."".u-i.'..'i.L!j.'. j.n '.'v. j gtncTwrrtnrT!Cirri''! . .: ''..u' 1
teal and personal estate
tfier making allowances
for collections & exon
erations, nn the 1st Dep.
1844, was estimoted by
late Tre asutrr st 1887,
301 71. It appears,
however, from a suhse
queiit estimate, found
ed upon more .full re
turn, Rnd s inoie accu
rate knowledge of the
extent of exoiieiations,
that the amount actual
ly outstanding on that
day, was
Phe nelt and available a
mount outstanding on
the 1st Dec. 1815, is es
timated at
1,000, 778 03
871,541 50
The amount of out stand
ing taxes on the 1st
Dec, 1815, is, therefore
less thai) it was on the
1st Dec. 1814, by the
sum of 135,233, 53
Adding to this sum the
difference between the
balance in the Treasury
ry on the 1st Dec. 18 14
and the 1st Dec. 1815, 273,905 79
We have an aggregate re
duction of the balance
in the Treasury and of
outstanding taxes on the
1st day of December,
1815 ,?s compared with
the samo items on the
1st of Dec. 1811, of 414,199 3
From this statement it is apparent, tha
ihe receipts into the 1 reasury, during the
year derived from taxation on real and per
ional flMaie miU inner bumk-im ut
properly belonging to the year, were les
ihm the demands upon the Tica9iiry fo:
the same per iod, by the amount above sta
ted. And i: is also appareul.thul if the Lsgis
lature had not postponed tho payment of
the Domestic Creditors, and tho intcres'
m the certificates issue ! for intorcst, and il
ihe ct ricellation of a portion of the reliel
notes, required under existing laws to b
cancelled, had not been deferred, the wholi
balance in the Treasury would have beei
exhausted on lie 1st of December last.
For the purposa of convenient reference
I have appended to this communication, i
summary statement ('marked A.) of the re
ceipts and expenditures of the past year,
with an estimate, prepared wiih much cam
and deliberation for the current year, end
ing on the 30th November, 1316,
According to this the re
ceipts of the year from
all sources, including il,
300,000 from taxes on
real and petsuual estate
will he $3,217,700 00
Which added to the balance
in the Treasury en the
1st day of Dec. 1815 31,880
Makes an aggregate of
$3,002,580 09
Deducting from which ihe
estimated payments dur
ing the same period
3,513.090 09
We arrive at an estimated
balance in ihe Treasury
on the 1st Dec. 1110 of
Which is less by 290.290
09 tlnn it was Dec. 1,1815
The amount of outstand
ing laxes on real and pei
sonal esiats considered
available on the Ut of
Dec. 1815 was
88.590 00
871 511 oill
To this is to be added the
asssesimcnt for 1810,
which according to ihe
best estimates will yield
a nelt revenue, alter de
ducting allowances for
expenses of col'eclion
and exhoLorations of
i.iso.noo oo
Making an sjteg'.c of 2.051 514 50
If from this nggregale we
deduct the estimated col
lections from these sour
ces during the ycarlSiO
2,180,000 0d
The difference
,jl,riil -o&
Will be the estimated a
mount of taxes, which on
the 1st of Doc 18 10 will
rt main outstanding.' be
ingl20,000 00 less than
was outstanding on the
1st Dec. 1815. When
to the reduction thus to
take place, in the out
standing taxes within
the current year,
We add the difference be
tween the balance in the
Treasury, on the 1st day
of December 1815, and
the estimated balance in
the Treasury on the 1st
Dec, 1810,
$120,000 oo
$290 290,09
We arrive at an aggre
gate reduction of these
two items, within the
fiscal year, ending 30th
Nov. 1846,of
$416,290.09
From this view of the subjeci il is appa
rent, that the assessment of the year 1816,
in real and personal estates, and the reve
nue of the year proper, derivable from all
other sources, taken together, will be in
sufficient to meet the demands upon the
I'rcasury during the some period, by the
nim of $419,290 09; and hat in supply
ing the deficiency, tho balance in ihe Trea
xiiryi un the 1st of December 1840, will
liae been reduced 1088,590,00, and the
irrears of outstanding taxes, to the sum ol
754,514 50. It is plain, therefore, thai
uir present finaniciil system is inadequate
o supply the means of mrciiug all the de
naiuU on the Treasury, except when aid-
id from ihe balance which had apcurnlaled
o(.irt ll lrnl aC inta.a.l lf,ja ruElini.
d nod by collections from dm arrearage
f laxes of former years both ol which
V ill oon be exhausted
I am constrained to add, that all thesi
alciilations and eslimatas. pre-suppuse thai
the demands on ihe Treasury will not It
permitted to transcend their ordinary limit
iiid that no appropriations will be made b
iho Legislature to new objects. These are
tot anticipated, because in the present slaU
if the finances, every new appropriation
nay well be regiidod, not as a ersnt ol
noney unincumbered in the Treasury, but
aihcr as an abstraction of funds, t-peciliral
ly appropriated already, and rightfully be-
onging to ihe public creditors.
The deficit in our means, under existing
laws, presents lor the deliberations of tin
General Assembly, a topic of paramount
niporiance. Il may be remembered that in
he month of Jaiuiarylast, 1 exprtfed the
tpir.ion, iu an Executive message, tint our
nuances had not then reached n condition
to enable us, permanently and at once, lore
itiirifi paymciii of ihe full interest on out
public debt. regret that subsequent ex
aniiiutions and reflection, have r,ol permit
ted ins to believe that I was then in trnr
But the Legislative action on the quciiiuii
tas changed the entire aspect of our dulie
rendered il useless to invert lo former views-
of policy. Tho payment of intcres! on tin
funded debt of the C'oiiiuionwealih was ii
fact, resumid on die fust of February, IB 15
By thai act, the Stale asserted her iireneni
ability to meet her engagement:-; and il urns
be our care that the pledge, thus renewcc
lie not again viol ited. The credit, lidiliH
nd honor of Pennsylvania, all dciiiHiuhtlim
henceforward, the interest on her pulilii
jilebt shall be punctually and fully pud.
Heretofoin. we iniuhi lun nliiadnd id,
unexpected failure of dm Depository Banl.
of the Slate, a few days br fore the interest
was pajalilc, and when the moneys appro
piiatod lo its discharge were accumulalec
in her vaults, die sudden destiueiion n
value of nearly the eniire currency in gen
eral use the pro&lration of individual cred
it, and die deep and univetsal pecuniary
nuuafriHsineiii 01 ine peepm. ;ni now,
, -.1 . . . . f .1 . , r.
ill are prospering, die currency is rebinre l
to a good drcrce ol soiiiidnc.s--our icvciuk
system, though stdl impe rfsct, has grcatl)
increased in ellactivcness and certainty
enterprizc is renewed, and the people hap-
ry in tiisif iiiMituiiun.-, aud roiifJonl in
t emselve, look to the appropriate
Hon of the Legislature to make prov.s.on
.... ... ,.Uu..u wui...
1 tie presertt period is in truth, the crisis "u i"' i""!"). nu io con
of our allairs. Promot and .flW... m.9-l,.lnu.e. anJ "T."'1 !h? ''!' of
, . ,,. .
" -.UU..IUU
our revenue, will restore to Pennsylvania,
for all future time, that proud position from
which she has temporarily been made to
.Hoop, by a couise of policy that never met
;he approval of her people. But tho addi
tion must be made at once. Unless the es
timates that have bean presented shall prove
-ssantially erroneous, the balance in the
Treasury; on the first of December 184(5
will not exceed one hundred thousand dol
lars. It is therefore obvious that if the re
ceipts at the treasury during the months ol
December, 1840 and January, 1847 do not
sjreatly exceed the receipts of the corres
ponding months of any preceding year
when ihe amount of outstanding tuxes war-
greater than it will be then a df licit must
occur in the means of the Treasury; to pay
ihe inn rest, wlich will become due on the
1st of February 1847. The necessity ol
adopting immediate and efficient measures
to guard against a result which would bi
so fatal to the renewed faiih and honor ol
the Btate cannot be loo sliongly enforced
npon the atte nlion of die Legislature.
Iniimalely connected with Ihe eubjec
ol our finances, is dial of the Banking 6j s
tern of tho State. The evils that have re
stilled from the nmncr in which it ha
been administered, and some of those more
essentially connected with its organizalior
and tendencies, have been fell by all. Ye
it may well be doubted'whether the whoh
of the mischiefs which it has iii Jtigsti.d,havi
been traced back lo their fruitful and perni
ciotis cause. Not only hits it stimulated
i:..l, , ,H tf r,i,, (,, fJinlim huva
led by ils seductive and corrupting influ
ences, into a course of wild extravagance,
and romrqunnt bankruptcy. Public (L-btt-have
been contracted even die iul..rc3'.s o!
which could scarcely bo met by. tho inos
Microtis taxation; while in other cases dn
faith of the govern nent which ought al
ways tu be held sacred haa been viulalci
in lime of profound peace.
Tha history of Pennsylvania since tin
k '5'-nning of the yei.r 1830 is a painful il
:ustrati(ui of this truth. In December IS:,:,
when Cjvernor M'olf retired fruiu oiliee,
n mouths befme die incorporation cf the
Bank r.l the United States, the State i!bt o(
Pennsylvania was 589 7i:J 32, It i.-
now exclusive of the i.mouni receintl ;.s n
eposit from die Central Governn!enl,!5"10,-
!)G0,393 22 making an increase of ihe Siaii
kbl in ten j ears ot 10.3t;C IA0 00 njt-
witsianding die receipt in the mean time ol
2,807,511 78 of surplus revenue of liio U.
Stales and of 3,410,780 23 as nioniiutiisl
lor Bank charier.
In conlemplatini; this startling fact,
we iiatcrally look round for th meiito
rious olijtcij of Sute poiicy, for which
this vaM aj;te);ate of twenty-lwo and
ilirce quai mi millions uf dollars, h.us bcci
cxpcrnied. Wu tin,) none of any magnitude 7ln
main line ol 'Canal and Railway, ht-tu rcr
l'liil.idelphij ami Pnisburg, had lie- -cum
pitted, ami ws in successful ojn-r
'ion. Tin- DeLw-T-' divisiuii, iht Sut
quehana and A'onh liraneli diviMon, d
he mouth of the L i.-ka wana, the Wtn
Branch division In Q leens llun, ih
IK-aver division lo New f'jsdc, ih-l-'ianklin
line, and the French Creek
Feeder, were all subst.intisUy liui.-ihc
whi n Govoi iioi Wolf pfl the AVeu
ive Cliairjiml Ihe stun of $.74 I, CIS (;U
vas nil lhai reuiaiuaJ lo be paid lor
:omple(ing them.
The State had reached a point in hn
mpiovcment system, t which .-lie
could have suspended opeialioi.i with-
i;it los'. lliokclmme ot uiircl ixlion
o pay Ihe ioieresi, on the Stale loans,
which na.J been introduced under
ii nor Wolf d admimsti aiioii. was ad-i
monisliing Ihe people of Ihe inconveni-!10
nce of a public debt. Every thing in
licatbd tiial the fuither progress of our!
Male. improvement wa lo be defered,'
till time had tested lha productivencs.-!
III I IIP 1 1 M 1 Illl ,,-rtr r a ,t I.rt innri,....
aiii .it- in,. -, ii- i
in,? development of m;r resources had
nVilciil 1n,t 1 1 , it, , li -. . I ll,.i. fii.ll... mwi
, ' '-j'n'i'i men maiici
17, 1 810.
ac - I, was a. the time, ,,.t ,he c, of
to 18th Febuary, 1S.3G was passed, c.ii-
" V ' -!.
tne Stalo by Kill Koads and CanaK.ani
1W fc.,.- . l...l, 1. I... ,1
w ui.niti il uiaiQ IIAUA, 111 I1H PJ pi
the United Stales Urnk.' The fn-i scc
lion of this acl rescinderl the system ol
taxes, which had been devised fur (h
proleclion of the public credit while,
by other sections, moie than Iwo mil
lions of dollars io be received liom the
Hank, were apioprialed at ouco to llic
prosecution of Company works, and tho
commencement of i.ew ones; under (In
direct chatgo of the Siale. To en:ihl.
'he Commonwealth lo consummate iiu
wild extension of impiovcrjtents, s x
millions of dollars were promised ,u
Ijt-rmanent loan to the Siaie,i an inter--si
of four percent, ami oiher loans a
he same ram were to bn made,wiien re
quired, to the amount of one million ni
lollars annually. Under Ihe impuls.
of this Acl, and of the influences which
effected its passage, a new series of irn
provements were begun at once, all ol
which, after the expenditure of main
millions, now forming pail of Ihe pu -ic
debt, and Ihe cause of increased tax
i ion, have been abandoned by the Siaie
nid have passeJ, mosi of them, into I lit:
hands ol companies, which Lave p-iid
no consideration for them.
If even seems, thai the Slate lias no!
imiteil its uratuiiio to the works thus
commenced. Heavor division, ami Ihe
Wyoming line, on the North branch, em
ir acing 43 miles of Canal in actual use
irul t he Fiench Creek Feeder, posiirik;
i. .iL.. i nn roi .- ii r
'"--iijki ii,i4,-j4 i m, ami an ol irutm
iiii'icu in 1 8-0.3, hava been tiven
to companies, ami leave Ihe State
less extended systen of improve
nenij now, than it hid when the JJiu
of the United i'tales was chartered
Tne progiess of theso work '
..... u.,t i,, me declining credit of Hi
State, tin 1 1 1, aller t fie most iesperaie te
iorta, the sale of a further suspension tu
he hanks in lb 10 and a loan in ISll
iy Ihe Slalo htrstilf, by tha device ol
ssuin; relief no'es ihe proclaimed
laimuptcy oi the Cimmonwoalth fur
iljly arrested Ihein.
liul th evil did not stop here. Whei
hewoiks wei c abandoned, the S at
vas largely indeb'ed to die contrsctor
.vlio.se claimii were regarded as of pi
naiy obligation. To silisfy them,
aw y.'js pmed, requiring iho gdn ,
he Ijjnk slock, m,J other stocks whicl
vcie owned ly Ihe. State. 'Pliese storks
which had c-i.M Ihe i reasury nearl)
Si, .'OO.OOO, werp, al most unpronitiou
nometit, sacrdiciiij for a fraction mon
than sfil, -10.3,0'jO.
However pamlul Uicsa r.ccolleetton
)f jK'cnniai y loss may hi?, ih-. re wcr
iltcudant circum.v.aoccj of graver ami
nore rjomentuous concern lo the
irtot. A new element of nower found
tj way into our elections. i'h dec
i
tivc franchise was violated a:d ahii-i.nl
die declarations of Ihe public will were
i - , i i i . .
'im-rfc uueu aim iit-ri- ii, ami liio ver)
xisionce of our lice instinitions wu
nien.icvij with icoolulmu ail deyiruciMii.
I allude to I lie niemoublj crisi-s of l.SJ.s
when a d:ncl atlempt ivas iiiad,liy the
;ai!i.rs of a niiiiiutly, lo usurp the gov
r ri in i-iii . ar.d lo suh'itiiuio ihsir dic'a
lion ,ur t ne vuit.e ol Iho nrijjiity ol the
people.
Thcr-s sccno I. ad their origin, beyond
loob:, in a spit it uf reckless confident.
mi ihi power i.ud curru;)lin iidlueiiC
f inu.iey lo coiniol ihe Sia'e.
Aji.iii fiom tiicse. poliiic.il cnnsiih'i'i
Mons, the. ndiiience of a viiated pipei
syslcm upon liie general and ordinaiy
interest ol lif-,is hniefuland pci mriotit.
Ilitheilo, thtiie has virtually ben noih
ic in the orgmiftion of Danks Ic
limit the- f x'e ul and dtfins the charac
ter of thir aciioii' but Ihe discre'ion r I
he diredois- A few imli v iduols, con
iiuiling tlie (tiicuut portion of tin
Bonds o( iiuimpuiMil, arr, io fact, tin
depositor ie of this di'-caium; aud as t
L'.eneMl rule, suhi cl no douljl lo m inx
JAffUAKY
Gov-"l'"oiaulrf ex'tfeptiotis, it u txeicised
with pi un-iry, if noi excliisme.referenci
'ie suppesed inieresl of Dnks.
While ihe uusi.iess of Ihe couutn
prosper, and thn spirit of sueculaliriL
eiitei pi !zs ntunulaied by socceis, tli")
extend tlitir jcei.miiiouatii.iis li'ueinlly,
...J 111 . 1. -1 . - . I . . 1.1 . 1. ' ..
, in, uii r - mi ii n ni r - di ii who
a ledunclai.t and depraved pui rency. An
. . . I i- . i .
rira-Minniiiirii rist oi puca is me cou-fi-
luence. Importations increase in
Viimhcr Hi), .
fl Ml(.p of (i -criminating tariff-ex.
,v C(J mvJ(,M , , bd,.,ir,mPn,a
";ot society .indrfmite credit invites to
a tin if ,;ss extension of indebtednesf,liil
I isl, Ihe laws of Irsde, unchanging as
those of nature, pioduce reaction, and
iho whole ailificial machinery is crush
ed. 7'ne people of Ihe country are ii
I rued to the cities; the cities are in
debted tbriad, wore the promises of
Ihe binks are not accepted as money
and iho hanks are called upor to redeem
thir notes in coin. Th sthey pan on
y do by drawing in their me'ins, refu
tinn new ncnonin!odalious,and pressing
tneir delitors for payment, lie .pin u
lilion of the country is suddenly con-
ric'fld, property is saciilictd, in many
'usances without relieving th delilor;
u I his energies are parnLzed by hope
es insolvency.
Such within thfl recent nioniory of
ill of us, has ben Ihe ac'io'i of a viialnd
nanking ryitem on the fa it ft of thi
S'ale, the stability of her inslitiiiions.
and tlie fieo entities of her peoplp. It
has taultt us a gnevou lesson ol sulW
ing; but it will not have been aliotteth-
er unprod uciive of pood, if it hag im
pressed on us the solemn and impera-
dive duty of guarding ajiiiibl a racur
reuce of similar evili.
The abuse of tho banking system are
found in many forms, but they are es
sentially tho same in their origin and
result, excessive issues of paper, ami
ils coscquent depreciation. To givo
lha power of manufact uiirij money, jet
tfl'cclually to limit ilt execicise, hy
legislation, is prcn'cally impossibie. It
is obvious, that no enacunent can abso
lutely prevent the unlawful issue of pa
per by a bank, whicn has lha lawful
ri;dit lo issue any. Returns of bank
officers, however exac;ly prescribed, or
honestly made, give no security for lha
periods that elapse botween them; and
, -; -- -ir.:r. of ,e naflk .
commissioner. iviuaii .--.. ry i?i
d to in other States, are apt to indues
dangerous rcliancs on the vigilance of
such officers.
Il may he, that the principle of indi
vidual ii ib lily for corporate engage
mcnls, which has recently bnen insert
id in some of our chillers, may, when
jiopci ly extended and made mor direct
ly operative, secure not only the crdi
or Irom loss, but the cuirency froin
langerous fluctuations. The expert
nent should be fairly made in the case
i every Uink thai may ask a renewel
f its charier. That its progress may
e Ihe heller teled, I respectfully
commend that the banks be required lo
aake monthly returns of llu-ir condi
lion, to ihe. Au htor General; and that
these be to ai ranged. as to present a mora
otnpluio and exact vew of their dans
ctto is, llun is furnished under tho ex
sung law. 1 his will laciliate Ihe fu
lure inquiries of the Legislature; and
ne periodical publication ol the re'uuia
will secure to such of Ihe bank, as aio
Himalely administered, (he reward
of their fan fulness, m the increased
eoi.hdcnce of the public. I need scarce
ly add, that the claims ef ihe banks to
sueral couhdence should be thoroughly
investigated, and jully asceratined, bo
lure l hoi r charteis are ex'ended.
These recommendations have snen
I leference lo applications from exist
g banks. Jn my judgment ihe capi
lal now mves'ed iu die.-e iustituilons is
mply adcquale lo Ihj? business winls of
he community. The timo do nol imii
ato lha irestnl necessity of any addi
iofi.il slimuiui to ihe spuit of enierpriz)
nu 1 cannol allow mystid to hazud, by
oy acl ol mine, a iossibln renewal (if
ie cxccs-ps, which we have witnessed
o recently.
i'ennsy ivania comhieg in an rminent
J'grae Ihe three c,reai elements id indi
vulual and national wealth, ague iiltunJ
commerce, and manufacturps; and the
pursuits and industry of her peoplp. sro
p'Oli abiy divided among ihem. Her
uills and mountains are almo.st eveiy
where tilltd with inexhaustible supping
ol lion oie, jiuI mim-iul cojl, and her
dipys abound with water power for pro
pulling macliinrfiy, in lite midst of ihe
truest agiiculiuml KAom. She has
corstiucled, al great cost, a line of im
piovetuenls by canals and railways, cott
iitctiog Ihe waitrs id die Ailioiic
..i.h those of the mm W..q; : which
hoi nntv au.ii.'' .,ti, n.i,
. . t . ,r .
and convenieni n,.,. ot trmsnoi line
r.i '
tneir piotlucts to m ) t. but sNn ben
de-.efus tho internal ,fadc an, commerce