t- v ' 6". 'made to redeem it at such pointas lie might dc "signate. The State Treasurer "should be authorized to require of those specie-paying' banks, whose notes might be under. pfer at the place of paying the in terest, to make arrangements tb redeem their notes at par, at the poiilt designated, and on their failure to comply, to demand specie funds at their counters. It is believed that an arrangement of the kind suggested would materially aid in ren dering the notes of all "the solvent Banks in the Commonwealth nf equal value in all parts of the State, Avould increase their general circulation fwnong the citizens, and tend to exclude the de preciated paper of foreign institutions. A mea sure valuable for these purposes, which would give increased worth to our stocks, and enable the State more faithfully "to comply with her con tracts, is worthy tlie:serious consideration of the Legislature. Intimately connected with the subject of our public debt, arc the assessment and collection of the taxes. The laws on this important branch of the revenue, require to be remodelled and ar ranged in such form as to insure equality and uniformity in the several counties of the State. The manner of adjusting and equalizing the val uation of property for taxation is a concern of deep interest to the people, and should, as far as 'possible, be left in the hands of their immediate representatives. Assessors, it is suggested, should be required, in the exercise of their duties, to make return in a full and accurate statement of the various products of Farms and Manufactories, of the kind, nature and amonnt of the supposed Jwriual value of the. productive industry of each district of the amount and nature of the local and general trade and business, with the manner and cost of reaching the nearest market, and the Yalhe of the article in market, at the nearest point to the district. Should an annual statement of this nature be deemed too expensive for prac tical utility, a triennial return might answer the purpose intended Returns of a nature so gene ral, of the resources and active industry of the State, while it would afibrd valuable information to the public officer, would place before him such fact; as would enable him to detect gross errors in the uniformity of the assessments, and would leave in the bands of the 'officer elected by the people the duty of valuing and taxing their pro perty, instead of casting a labor so important in to the care of irresponsible Boards. The importance of legislative action on the subject is enhanced by the fact "that an examina tion of the ordinary revenues and expenditures for the last few years, furnishes evidence that the necessities of the treasury require increased re sources. A statement from the auditing depart- ment is as follows : Ordinary Revenue and Expenditures of the Commonwealth of Pennsylvania fur the peri od herein staled Revenue for the year iS45, 2,999,631 18 Expendituresj 3,176,293 23 Excess of Expenditures, Revenue for the year IS 16, Expenditures, Excess of revenue, "Revenue for the year 1&47, lEqpenditures, Excess of Revenue, 'Revenue for the year 1848, Expenditures, Excess of Expenditures, Total excess of Revenue, Total excess of Expenditures, 131,667 10 3,487,832 49 3,461,i44 71 26,737 87 3,744,509 40 3,427,341 42 317,167 98 3,071,997 32 3,746,836 6S 74,889 36 343,903 70 256,556 46 Excess ofReVemie in four years, $S7,349 30 Expenses of the public works, considered as ordinary, notwithstanding much of the amount is really extraordinary; but as offset to this, the tax on real and personal estate, received during each year, is more than the assessment of a year, the excess being from outstanding taxes of pre vious years. The balance in the treasurjr on De cember 1, 1844, was $669,S51 83 Dalancc in treasury, Dec. 1, 1843, 577,290 39 Deficit in balances in treas'v in 4 yrs; 86,561 49 Had the law of :!ay 31st, iS44, been complied with by the cancellation of the relief issues, the additional charge would have been made oii the treasury of 249,700 GO Which added to above deficit makes 336,261 46 Deduct excess of apparent fevenife 87,349 30 Real deficit imder existing laws, .$248,912 19 in 4 years, exclusive of extraordinary expenses. The operation of laws, on the part of the nati onal government, framed with a view to the as sessment of duties and collection of revenue is a subject seriously affecting the finances of tlie Commonwealth. No State in the Union depends in a greater degree on the advantages of whole some enterprise, and the safe employment of ca pital, on the stability and agency of laws afford ing reasonable' protection to domestic! industry. Our mountains; rilled with rich depositesof iron and coal, invite the manufacturer to employ his skill and capital in these commodities, and when they are'in' demand, the whole productive busi ness of the State prospers. No interest' feels the pressure of foreign competition more keenly, none requires more certainly the fostering care of government, none speeads to a larger extent the active industry' ofall classes of citizens, than the peculior .manufacturing establishments of our own State. The system established by the act vof Congress of 1840, is framed for the purpose of revenue, and discriminates against rather than for protection. The effect of such laws would necessarily be, if continued, to strike down the manufacturer, and to depress every interest which directly or incidentally leans on him for support Of the interests favorably' affected by the es tablishment of manufactories, none deserve mote especial notice than the laboring' ant! producing classes. These compose the great" mass of out population, and in all' respects differ radically from the same classes in other countries,, Here, ,they are apart" of the government itself, and as such are frequently required, in the exercise of the Elective Franchiser to decide questions the most' momentous, affecting even the stability, and duration of our free institutions. In the forma tfon'of the government under Which they live they were a" component of the sovereignty which had wrested from a foreign power the indepen dence ofthe country, and took With others an e .qual part in the difficult questions involved. To enable them to discharge in a proper manner the duties they owe to the country, to others, and themselves, a portion of their tnjje iJliould be giv L en to the examination and consideration of public questions, By the reward of rheir labor ?they shohldbe enabled to elevate their condition in 'society, To cbininand for themselves and families, 'not merely the necessaries, but the comforts and even the luxuries of life to give to their chil dren the benefits df reasonable education, and to ensure a completenee when age has disqualified them for active employment The -price of labor is regulated by its demand, and the value of the article it produces. When the demand for labor is small, and the produce of that labor low In price, the reward of industry is comparitively reduced ; when the demand for labor is increased, it rises in value and receives an adequate reward. Hence, Svhatever increases profitable labor, is substanti ally beneficial to the working classes, and affords 4.hem tha means of comfort, the delights of ratio nal enjoyment, and the opportunity of exalting 'their condition and performing with safety to the country the duties of citizens. , The manufacturer, if he be sustained in his en terprise, produces this result, by opening to the laborer a new 6ource oPcmployment. It is fre quently urged, that the system of protection to domestic industry is of more interest to the man ufacturer than to the laborer,as it enables him to dispose of his fabrics fot a higher price, and to realize better profit on his capital but is not the capiti 1; of the laborer also involved in the fab'ric,and docs he riot teceiveaVeward in propor tion is the varoe of the article 1 Let it be remembered, also-, lhat his daily bread, the wants of his family, the education of his children, all depend upon the success of the establishment at which he is employed, and .he objectiort can have but little weight. It is also urged, that a reduction of nominal values to a specific standard, would produce a result, requiring for domestic labor ha protection on the part of the government. A doctrine of that na ture is radically wrong, and at varience with th'e principles on which onr free government is found ed. Bring down the standard of prices for la bor to a specific standard; allow no greater re ward for industry in this country than in Eng land, and the working classes ore necessarily forced into the condition of foreign operatives, compelled to labor constantly and diligently to earn for themselves a miserable subsistence. All the luxuries, many of the comforts, and even the necessaries of life, must be denied to them, while the education of their offspring must be wholly neglected. These observations apply to the laborers engaged in the business of minmg, nnd transporting our coal to market, as well as to the operatives more directly employed at man ufactories. After the demand for houshold use is supplied, this article must seek a market in those districts of country where manufacturing industry abounds, and the demand for it increases or diminishes in proportion to the active opera tions of these establishments. Hence, every fire that is extinguished, and every wheel that is stopped, lessens the demand for coal, decrea ses its value in the market, and reduces the pri ces of labor, by lessening its value to the owner of the article. When to this is added the fact or tdihpetition fromk abroad, underselling in the home market the domestic artiele, the occupa tion of the laborer is destroyed, and the ruin is complete. The revenue system invites such a result-, while the system of discriminating for protection forbids, it. Other classes of society are also injuriously or beneficially affected, as the laws on this subject favor the one or the oilier policy. The agricul turalist, inclined to measure the general welfare by tlie prices of his produce, and to remain con tentec while these are satisfactory, is required, only; the exercise of his practical knowledge, to be informed, that Ac suffers also by a policy which strikes down the manufacturer. The home market is his only sure reliance. The condition of things abroad may afford increased prices for the produce of his farm ; the miseries of unhap py Ireland, and the unsettled state of public af fairsin other parts of the world,- may create a temporary demand for grain, and thereby aug ment the value of Ifis productions; but it Would be unsafe to depend on contingencies of this na ture, over which his government can have no control. The' entire produce of his lands, wheth er distant or near the foreign market, must de pend for an uniform and fair price on the home demand. Any other reliance is dependent on the porcy of foreign governments, the convul sions of unsettled power, and the unfruitful har vest's of other producers. It is not, however, in enhanced prices alone that he finds his reward. In the home market he is. his own factor, 'avoids the risk of agencies, the dangers of transportation, and can select his own time for the disposal of his produce. The manufacturer carries to the market, in the fab rics he proposes to sell, the produce of the far mer, who is thereby relieved of the hazard and expense of conveyance. In another ferm he is still more largely benefited.- One of tlie elements of well-regulated society, is unity of interest. Whatever may be said to the contrary,-no natural antipathies exist between capital and labor. They are dependent on, are supported' by, and receive vitality from; each other. The manufacturer who invests un der the fostering care of government his capital in profitable industry, opens a new source of wealth to the farmer, the artisan, and the la borer. An industrious population, whose reward af fords comfort and competence,-gathers' arodnd him; other clashes are attracted,-and the store house, the woiks-hop; theschool, and the church are erected; Villages spring up; the din of active industry and the sound of enjoyment mingle to gether; roads are opened, bridges are built, lands rise in value ;: and the farmer finds a mar ket at his door,- not only for. his ordinary surplus prdduce, but. also tor numberless articles winch were deemdd'iinworthy of transportation. Froni that overflowing fountain, by an hundred rivulets', wealth is poured into-his" treasury, These are a few of the many advnittaires ofthe agriculturalist and the laborer,- aris. ng from a fair and reasonable protection of the domestic in dustry of the' countrv. The existing revenue laws of the national government, by opening our ports to foreign manufacturers,- ii vilb the labor' of the wrelched, starving operatives of Europe, to a competition with this healthful and prdsper ouscondition of thing.. The consequences are, ruinous to the interests of the laboring and pro ducing classes, -and dry the streams" of prosperity in every branclref industry. ft' should' nfef be" forgotten"; that thb reliable wealth of a State consists hthe profitable i rid us try and capital of the citizens. Whatever tendv therefore, to prostrate individual prosperity,- to' diminish the value f proiluce, to injure produc tive labor, or to drive from wholesome invest ment the money capital of the. country, strikes with alarming force the best interests of the State. The revenues of the Commonwealth are derived principally from real and personal estate, and from our railroads and cana's. In relation to the former, it may be said, that every dollar shipped for the purchase of foreign fabrics dimin ishes their value, depresses the home market, reduces the profits of the producer, and hence 'lessens the amount of revenue paid into the 'treasury. Capital invested in the various branch es 'manufactures, sinks in value, in proportion rto'the depVession ofthe busines in which it is employed-, and when foreign x:ompetition is success ful by reason of low 'duties, in driving from the home mrket the fabric of the capitalist, his in vestment is comparatively valueless, and the rev enues therefrom are greatly reduced. The pro fits from our internal improvements are still more seriously affected; The raw material in its transit to the manufactory, and the fabric on its way to a market, are principally conveyed along our canals and railroads, thereby yielding a handsome revenue to the Commonwealth When, therefore, the manufacturer, unprotected by the government, is compelled to discontinue his business, not only the laborer, the artizan and the agriculturalist, but the State also isist:rious ly injured in the general depression of business, the diminished Wealth of the country, and the reduced value of the capital; The policy of giving fair and reasonable pro tection to the domestic industry of the country, has heretofore received a support so cordial,trom wise and patriotic statesmen who have condec ted the affairs of tlie national government, as well as those who have preceded me in the ad ministration of this Commonwealth, that I cannot refrain from the insertion of a few extrects from their several messages. In the eighth message-, Washington deemed it proper to bring the subject to the attention of Congress : "Congress haye repeatedly, and not without success, directed their attention to the encour agement of manufactures. The object is of too much consequence not to insure a continuance of their efforts in every way which shall appear eligible." The eighth annual message of President Jef. feuon, contains the following reference to the subject : "The suspension of bur foreign commerce pro duced by the injustice of th'e belligerent powers, anj the consequent losses and sacrifices of our citizens, are subjects of just concern, .The situ ation into which we have thus beeri forced, has impelled us to apply a portion of our industry and capital, to internal manufactures and improve ments. The extent of this conversion is daily increasing, and little doubt remains that the es tablishments formed and forming will -under the auspices of cheaper materials and subsistence, the freedom of labor from taxation with us, and of protecting duties and prohibitions become per manent." President Mnd:son calls the attention of Con gress to the subject, in the following terms : "Although other subjects will press more im mediately on your deliberations, a portion of them cannot but be well bestowed on the just and sound policy of securing to our manufactures the suc cess they have attained and are still attaining in some degree, under the impulse of causes not permanent." And again, in his special message of February 20, 1815, he says': "But there is no subject that can enter with greatt-r force and merit into the deliberation of Congress than a consideration of the means to preserve and promote the manufactures which have sprung into existence, and attained an un paralleled maturity throughout the United States during the period of the European wars. This source of National Independence and wealth, I anxiously recommend, therefore, to the prompt and constant guardianship of Congress. " In his seventh annual message, he again re curs to the subject, as follows: . "In adjusting the duties on imports to the ob ject of revenue, the influence of the tariff on man ufactures will necessarily present itself for con sideration. However wise the theory may be, which leaves to the sagacity and interests of in dividuals, the application of their industry and re sources, there are in this, as in other cases, ex ceptions to the general rule. Besides, the condi tion which the theory itself implies, of a recip rocal adoption by other nation's, experience teach es, that so many circumstances must occur in in troducing and maintaining manufacturing estab lishments, especially of the more complicated kinds, that a country may remain long without them, although sufficiently advanced, and in some respects even, peculiarly fitted for carrying them on with success.- Under circumstmces giving a powerful impulse to manufacturing industry, it has made among us a progress, and exhibited an efficiency which justify the belief, that with a protection, not more than is due to the enterpri sing cit zens whose interests are now at stake, it will become at an early day not only safe against occasional competition's from abroad, but a source of domestic wealth- and even of external caxn merce." And again : "It will be an additional recommendation of particular manufactures, where the materials for them are extensively drawn from our agriculture and consequently impart and ensure to that great fund of national prosperity and indepeddencoj-an encouragement which" cannot fail to be award ed." President Monroe, in his first inaugural ad dress, says : "Odr manufacture will likewise require the systematic and fostering care ofthe government. Possessing, as we do, all the raw materials, the fruit of ouY own soil and industry, we ought not to depend in the degree wo have done, oh sup plies from tfiher countnes. While we are thus dependant,-the sudden event of war, unsought and unexpected, cannot fail to plunge lis into (he mot serous difficulties. It is important, too, that the capital which nourishes our manufactures hould be domestic, as'its influence hi that case, instead of exhausting, as it may do, in foreign hands, would be felt advantageously on agricul ture and every other branch of industry. Equal ly imponant is it to provide at houie a market for our raw materials,-as by extending the competi tion it will enhance the price, and protect the cultivator against the casualties incident to for eign markets." His Excellency,-Simon Snyder, Governor of this Commonwealth, in Ins message' of December 8th, 1815,-says : "The subject ov fnanufac tures, from full expe rience dur.ngiho restric.ive system and the war, I is now so well understood, as respects the practi cability of advantageously carrying them on, as to the kind of goods which may be made, and the quality and durability of the articles wh'ch have had a fair experiment amongst - us, that it is' deemed unnecessary to urge arguments in their tupport. The general government, fully aware of the importance ofthe subject, will, it is confi dently hoped, follow the dictates of political wis dom, and protect our manufactures against inju rious foreign competition or combination ; a con trary course would protract the long and anxious ly sought real independence of our country, and again impose on usa dependence almost colonial." His Excellency William Findlay, referring briefly to the subject, says : "As agriculture and manufactures are the great sources of wealth, and the only solid foun dation of our comforts end independence, they are particularly entitled to the fostering care of government." In the first message of Governor Wolf, he speaks as follows : "Theprutecting policy hitherto sustained by the general government cannot, under existing circumstances, be abandoned o relinquished with the approbation or consent ofthe people of Penn sylvania. Their interests, their prosperity, and, I may dJ, their comforts are, at this time es.-en-sentially identified with that policy. The diver sified branches of industry in which our citizens are engaged, the character of the productions pe culiar lo our soil, the state of the foreign n.arkets to which we had heretofore been accustomed to resort for the sale and exchange of our staple commodities, and the interdictingduties by which the produce of our agriculturists is excluded from those markets, leave us no alternative as to the course to be pursued. We must either suffer our surplus produce to perish upon our hands, or we must establish a market for its consumption at hdme. We must either submit to the humili ating condition of becoming tributary to foreign industry, or by at ording encouragement to our own, render ourselves independent of foreign im position nnd exaction. Under the encourage ment and protection now afforded, our manufac turing establishments are assuming a vigorous and healthful appearance, and g ve reasonable promise of promoting the general prosperity of the country, and of accomplishing the great end and design contemplated by the friends and ad vocates of the protecting system. Happily for us in Pennsylvania we have no constitutional dif ficulties to embarrass us in refbrence to this sys tem. Our statesmen who have hitherto repre sented us in the National Legislature, as well as in that of the State, have uniformly expressed their opinions affirmatively, arid in terms by no means equivocal, that this nation possesses the right, under the constitution, to protect its indus try by salutary enactments of its own, against the injurious consequences of foreign legislation, and that the ats of Congress imposing duties on imports are constitutional; and their constituents have as unequivocally responded to those opin ions." Governor Porter, also, refers to the subject in tlie following manner : "It is unworthy the great state of Pennsylvania, to depend on the manufactures of other States, or of foreign countries, to supply her citizens with those aaticles for the various purposes of life which they can produce themselves as well, as cheaply, and as abundantly as auy other people on the face of th'e" globe. Our valleys teeming with plenty,, our hills with eihaustless deposites of coal. .anil iron ; ouf streams abounding with water-power, for all purposcs. uii surpasscd by that of any other country jtiii.I our citizens stim ulated by enterprise and possessing means to renrier(it effec tual, should awaken in us that spirit of independence which disdains to seek at the hands of others, that which it can furnish with its own. It is with no feelings of envy or of local jealousy of oUicrs, that I bring this subject to your no tice, but with tin honest feeling of State pride and a generous emulation, which should inspire us with a determination not to lie indebted to others for those solid ud useful means of promoting our prosperity and independence which Mature lias bounteously lavishec on our own cilizens.'l A question ofthe greatest magnitude, involving the honor ofthe State, and the interests of the citizens, will arise in the consideration of the public debt. Tlie regular payment ofthe annual interest, and the formation of a sinking fund for the final liquidation ofthe principal, should receive tlie early and careful attention ofthe Legislature. It will give me unfeigned pleasure to unite with you in any rational mode calculated to facilitate an object so desirable. The present debt of (he State is as fcttous: (viz.) 0 per cent stocks, $1,887,54!) (Hi 5 do 37,:i0;.tfll 13 4'- do 20(,0tf0 00 -r : 39,393,350 24 relief Notes in circulation, 70'i(5G4 01) luterest certificates outstanding, 2-J0Y78!) 5 do unclaimed, Interest on unclaimed and outstau- ing certificates to be added to when funded, Domestic Creditors, 4-;443 3d 14,1 G5 89 fcJ,3I8 L'5 1.031.386 74 Totaf amount of public debt, Dec. 31, 1848, ' , 40,424.730 93 Ofthe above there is due andilomandali'lc at the Treasury as follows: Relief Notes. $702,664 00 Domestic-creditors, ... 89,318 95 Interest certificates of 11 kinds, 239,4o3 79 1,031,386 74 It is presumed the gradual process of cancellation ofthe iclicf notes, or their redemption as heretofore indicated, will remove to that amount, the pressing necessities of the trea sury, The residue of said sum of 1,031,3SC 74 (to wit :) Due and dcmandable, 8323,722 74 Als'odife amldemandablc of funded debt as follows: June 1st. 1641, $2G,&51 80 August 1st. 184(5, l,!i9c,509 35 August 1st1, 1847, 22,335-AU 2.047.7DG 21' Present liability of Treasury, 2,370,518 95 Residue of public debt falling due ; March 1st; 18-19. 59,551. 46 Dec lsr, 1850, A'prjl 11th, 1853, Dec. 1st, 1853, Jau'y 1st, 1851, Dec. 1st, '51 Aug. 1st, '55 July 1st, '56 March 4th,'58 July 1st, '58, July 1st, '.78 July 1st. '59. T August 1st, '59, JiilV 1st, '60, March 23, YIt July 1st, '62, April 10th. '63, July l.'tvl, June 27, '64, Aug. 1st, '04, July 1st, 65, Jan'vlst,.'P5. " . July 1st, '68, , July 1st, "70, Hank charter loans," 999,311 15 135,214 00 1.993,407 09 793,474 64 2,197,849 55 4,488,4G3' 70 2,780.808 20 3.993,395 47 529,921$ 74 2,540,0lU 56 I.195.9M 03 49,03 55 2.G43.777 04 120.000 00 2,265.059 75 200,000 00 1,378,375 99 1,13-1,332 70 860,680 89 959.540 79 868.873 13 2.523.M7 04 1,939,583 65 676,375 96 Total aiut of funded debt not deiuandable at the Treasury', 4S37,345,554 03 39,722,072 98 S113.252 94 1,865,290 05 9,000 00 Interest on the public debt, 1,887,519 06, at G per cent, per annum, 37,305,801 18 at 5 per cent. 200,000 00 at 4 per cent. Regular interest on the loans as they stood Dec. 1, 1848, 1,087,542 99 On a portion of the above loans there will be to pay 3 1-2 years inn-rest on February 1, '49 which it is estimated will increase the amount, 7,000 00 On hatever amount bf interest certificates may be funded between lle 1st of February and the 1st of August next, there will ba due at the latter period 4 yenrs interesr, estimated at J 12,000 t)0 Prolmhle'hnioutit or interest for 1349, 2,0P0,542 99 To which add guarantied, interest on-Danville& Pottsville railroad, and ilald Ilagle and Tioga navigation companies, 32,500 00 2,039,012 99 The estimated revenue for the current year as follows: ' 1 Lands, Auction commissions, Auction duties, Tax on bank dividends, " Corporation stocks, -" real and personal estate, Tavern licenses, Retailer Pedlers " Brokers " 23,01)0 S Go.OOO it 120,000 i 150,000 & 1,350,000 Or -wu.uoo Of I 2,500 ft Theatre, circus'and menagerie licenses, 1,0(30 f .f-IIIHI IV Pamphlet laws, 400 (A Militia fines, Tax on writs', &c, Tax on certain offices, Collateral inheritances, Canal and railroad tolls, Canal fines, old materials, &c, Tax on enrollment oflaws, Tax on loans, Dividends on bridge and turnpike stocks, Accrued interest, Refunded cash, Esc he .tf, Fees on public offices, Miscejlaneous, 20,000 0 40,000 ft OU.OOOfol 1,650,000 S 3,000 to 3,500 &JI no,00Q(,' 2,000 U 4,000 1. 3,000,, 1,000 (J 1.500 (J WJ 111 $3,851,000 J Estimated expenditures for the current jlr Public improvements, SSOO.OOOf, Expenses of Government, 220,000 J Militia expenses, 30,000 1, Pensions and gratuities, 2;i,()0(),J Charitable institutions, 30,OOoj. Common St nools, including" non- ac cepting districts. 2o0,0J0frJ Interest on loans ai d guaranties of interest, 2,0 10,000 (; Domestic creditors, 12,000 ( Cancelled relief notes, 200,00(1 (p "Damages on public works, ' 30,000 (. Special Commissioners, :Jo((. State Library, 1,20(1 1, Public buildings, 3,5(it!, Weigh-lock at Reach Haven, 3,000 1 Penitentiaries, 23,(100,. House of Refuge, 4,000 1 Nicholson lands, ' 2C0i Escheats, ' , &(J,. Abatement of State-Tax, 40,000 u aliscellaneous, - 5,000 3,716,600 J Estimated revenue over expendi tures;) 135,CC0i From ihe foregoing statementit would nppei- should the estimates of receipts and expenditufsi be correct, and they doubtless approximate tl- truth, and should not unlorseen casualty occur that the revenues will at least equal the exK. ditures of the year. Admitting, however thed rectnessof the estimates, it is apparent the Stall is placed in a condition no better by the lapse:! time, as no material diminution, if any, ot'H public debt is effected. Indee'd, even the prl ment of the annual interest has depended, ai) will depend on the anticipation of revenues pr perly belonging to the next fiscal year. Ay. tem of providing means to meet the liabilities ' the State, which pays no part of the debt as meets the payment tf the annual interest ! drafts on a fund raised for the discharge of am! er duty, and which collects from the peoples wards of two millions or dollars yearly, n-qm: supervision arid amendment. A careful revis. of the revenue laws of the Commonwealth, creasing the tax on such items as will bear w: out injury an addition to their present burthc with due economy in the appropriations ami f penses of government, would not only placet treasury on a sound basis, with regard" to thoa: nual payment of the Interest, but" would al-n set apart for that purpose, create a sirik'ng fc to meet the amount now due and demandab'e the Slate. A result of this character woih.Jt honorable to the Commonwealth, and gratiffi:; to the citizens. Confidence would be imme. ately restored to the community, public ere. would be permanently established, and theTw sury relieved of a portion of the public tfet The amount now demandable is two niilfo three hundred and twenty-six thousand fivehn: dred and eighteen dollars and ninety-four cent When the faith of the state is jnvolved, no td shduld be lostm adopting measures to restorer. credit. To form a fund for the liquidation of there due ofthe public debt is an object not leis imp: tant than the one just suggested. Pennsylvaa should no longer bear the burthens which nc oppress her citizens, without, at least, a visor and manly effort to relieve herself from her bihtiee. To the Legislature belonp-sthe duty devising such means, and enacting such lawt.n win oest promote tne interests of the people, efforts so laudable will at all times receive l approbation of, and be aided by such suggestic: as may present themselves to the Executive, more favorable opportunity may present itself' the present session, than will soon again be t fered. Many ofthe banks of this State have? en the requisite notice, that they propose to ap" tor a renewal of their charters, and 1 would sc, gest, should it coincide with your views, thepc cy of exacting from each of these institutions t& may come before the Legislature, the paps of a certain percentage on its capital, in addiU to the taxes already assessed on banks by ex ing laws. A sum raised in this way might fc the nucleus of a sinking fund, which, howet; small, would regularly increase in importatf and value by the assistance it might receiretr? that and other sources. The charters of alio banks in th Commonwealth will require rent al; the increased prosperity, population and siness of the country, may require addii banking facilities, and during each year a sir amount could be added to the fund. Tim ment of tho fund thus created in the purcb State stocks, (the present revenue laws o? 1 State being preserved,) and the mteregt poster nnrehflKfid. heinc in-nin inroctod Jn iht K way, would increase the fupd while it diinimfl the debt, until all woujd appreciate itsiro,v tance tnd consider it with favor. Should c-j sources of revenue become of greater value, "j may be reasonably anticipated, large balanc over the expenditures pf government willaccrt to tne treasury, a fixed proportion of which proprly be added to the fund. Thus would increase in triple proportion, until the epotff& debt, with which we are encumbered, would finally extinguished. Whatever may be the vie' ofthe Legislature in regard to the plan si'?Sef ed, it is ardently hoped it wjll distinguish to Fr'
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