-
'e-----~
0
" Gover_beesldessage.
7$ the S'enate and House of Representattves
. ,of the ConitnonweedilifilPennsyliania
. .. .
• , ;'LLOSST-CITIZEN:7, ~s :. , -.-: .. ,
..
: : :' An ' Wo r in'tinunicatitig tcr . ,, the Legitiliture the
. - ' 'general Condition of the . COmmonwerilth-ther
, , ring the past.year,:it is . My grateful duty to 1
.- • - belinowledge", -- ttiat - throughoutall - its"ch a nge s
the, wise 'guardianship
,of. a Merciful Provi.:-
dence has been visibly' extended ever us as' ti
-. pdople. ' The• designs of non's•ahortaighted
• but 'boasted ".wisdom • have sown -distrust and
. , ruin. wide - over the land ;: but in Pennsylvania
• the restraining careof. the Ruler of ,notions
. has still been at land Ao'rriltigate ,the evil.-
),Y, hile-Want orcon enceentl-ef employment,
; ic,
.:• '''
enda cOnSeqUerif • :tibial stagnation - of: Wei : -
- . ness, were *strati' --- theelie'rgies of the •Un.- -
- . ._ „ .
ion,. our crOps grew, and were. matured.' in
-- ebenthiece-=our cilizene7Virere generally em
ployed arid remunerated 'for - their . labor- - =otfr
• :.41 . enteilkri§ge, , Nblic and private,' if not quite so
I.enecei3sful-its•Was.- enticipated, hoes neither
r - 4
. e failed entirely nor materielly' retrograded; and
..
'::good order, health and, happiness, ha?e blessed
....:• 'the "State... The evils .under . which othere .
groaned fefflightly on us, and-have, it is hop ,
' - ed;litiready accomplished their . worst. , Our
.gratitude should therefore be deep and public
, ___ly acknowledged.. -•
. ' In. performing the duty now before me, it
. would be.criminal, to treat lightly, or. even-for
a moment,postpone_the subject-whiclittbsorba
the.attenti t o t n-o b f - rill m .: B ...W eA l L t i ff - ei t h h e _e - public - Mind
sensitively aroused to it, the proper treatment
ofany. ma . ,9r- eco ly-difficult.- - --
• But whetrlthe delicate subject:of-the currency
is the one -thus circumstanced, the difficulty is
•greatly: enhance& Still a sincere - deeire and
. • -a•-fi cm...cleteireinatien,
„to consu h.:. Ifferte:i fie
(
good. of- the• country , mill -lead - the - tiatribt
• :1 -through every difficulty •and:erilile hiril to.ec
., cotriplish4mich that -at first sight appeared
hopeless. In this spirit permit me to invoke
the co-operation of thelegislaiere,ke devising,
ng_w_hri tever may - lie - foundwit - bite
the, pro Ourdsowerfor the relionriftlie --
" - CO . mmunity. ---
_____, . . , . •
_-_-.1-The•distinctive characteristic of thepresent
. , century is an enlarged degree of civil liberty,
coupled with a liberal .and all-pervnding coin
merce. In the. early and-less civilized ages;
man subsisted. on - the -products of the chase
(- • -the flock . and herd-or the greund -around.
.- his dwelling, and required little intercourse'
• with his neighbor. ..A later race next sprung
• tip, who, spurning the- peadeftil ankobscure
avocations of theirimcchtors,mncle'the sword
end• the bow- Yield the -means- - ef _gratifying
__ ,their new. rind increasing wards, in the midst .
' 'of Wheise incessant boils, -'the thrift- of-the-
Merehant was little--understood,-or pursued,
1,-ith :Nat ciang,et end precarious profit. To
b their
. lawless career; in the comae of
—ti . trent - and -absolute--g..overninen ts-we re
• . established, whose arbitrary - deoreesandedicts
__thOugh they,compelled peace and partially prq- •
~ Ae.cted-preperty, had' also . the effect of repres=-
~::' rung liberty:mid "of - crippling - ,: - cominerce.-:
These inseparable , companions in man's - his-
tpry=aCtengili biffet - theirboncls - , - and:-Imr, - in - 1
. ,
- •
whatever part Ort H171MT•111 -- riniition -- ie - finsrelI
free, its commerce is found to prosper in the
same proportion. - . - • - . ,
•
- , The "first offspring of „commerce, - thus' pre - - -
7":lliiteirbrlibnity;46 - Weneral - eireelairing „ me ,
-
ilium, or currency;_ and - the best proof of the:
•;.. - prosperity of commerce and per ectioe of li:
berty, are the soundness•and uniftirmity of that
currency., In fact it is almost impossible to
. • conceive
~ _-_—_
la te their . Ow it afliiirs, completely commereial
_ -in their linbits and united iii ether JeSnecte,.
•• yet so blind to their best, interests auto neg.,
elect the uniform-regulation and soundness ot
- tent on which their commercial prosperity
---depends - ,-- A -sound_uniferm currency • will
therefore be the first commercial efibrt of-i
-free.people. ' ' . • ... ,
By commerce is menet, not that mere im
portation,of foreign and exportation of domes
. . tic goods which is carried on in eenport.towns:
_ • :hut the general' diSposal -of 'articles of all.
• kinds, whether the produce of the ehnse„ the
field the.forest, the mine or the factory,.•hy
those - who have more - than - thilenbekto those
who require them, wherever transacted. And
. - ..-he-eurreney-isieteedod that circulating_equi-.
_____valent_which,each. receiveS in return for the
• - triticles sold, anil•vglticli will procutliim an
equal amount in value of others that he Ma .
7
wish to purchase. It is sound when it i 1-
ther composed of the precious'metals or o pa
peractually representing an - equal amount of
specie, or of property constantly' convertible
into specie,.some where deposited for its in
stant redemption; and it is,uniform when it
• is taken in an equal rate in,eyery part of the
country through which it was intended to cir
culate. . 1 .• . .
Such-a currency;'-the' - went of which was
one of the greatest difficulties of the .revelu
, I ion,. was among_the firstnenies of the political
fathers. of our :liberated and
. commercial
_, __Union:', • ~
• • . A--national-pper currency w_n_e r ktheni
created, with theeonsent of Washington, are
- tertil fell examination of the Tears of its oppo
nents and of the wants of the country. Gra
dually and, , effectually it performed its office,
till'the question of its continuance was again.
-.broughtround-in-the-course-of years;--again_
--- - it was_opposed, and,was for n time dispensed'
'• with ;• but egain the wants of enlightened and
re equal- .donirrierce_overcome the.-scruple , of
'' • Madison,-arid once more the - business of• the
• country fciiind a sure reliance. • Here it - might
he supposed that, denbrand7experiinenting
would have, ended ,-Here it might be hoped
.' that the&tretii:otes_ enlightened and as pure
•
-patriotism as ever - graced - the' history of , any
nation . ; might acquire the force of precedent,.
• --- trid - settle - thpevexedeqiiestiari , ireThvor - of - tlite
' wants orthqeople and -in opposftion.to fears
..._ which -two lonrand'full-trials'had-not-realiz
ed. ,'But no. The' doctiiiii - that every men's
understanding of the Constitution, was 'the
• • .Constittition, end, that no precedent however
wife in-its experience; or authority 'of names
- :however 'venerated by the country, not 'even
..
4 ,4,6 - 11,eciSiond'orthe 'Supreni6 Court of 'llie - ;
•tiation;-:werelo' avail any thing, was beqached.
Political doctors arose whose gravelyirjrowed
- 77176ijeCtivartirsave - the people-fronythe-power,
~• Of their own Constituted agents, and from the
-:- influence' of -engines . created by • their own
_hands ' fur ...their own, , convenience. They
ciiiiid - the country liealthy and - prover< US 1111 -
7.o,ittziOlatithis, and - needirrg only.a whole,otne .
-•• : •. - . -;iXstric;ion,'on:Aho- exuberancp'' of its vigour.
dr iiitairitifert qu'i...t•,nie w intreeTiii• - Ve Pe.thei e
s kill; the&goadeif on - the tuitional Spirit of ad. -'
Venture:Ate allAher wildnes4 cif - speculation,
Sfid_When at theheight, they . Checked at oiMe
••• its.reurse and paraliZed ittaiatreegth., But now, i
like all dtherempyjlcs.,' - thoUgh they have pro•
Ciuced the diSerise they cannot or will not ap- I
• ,p,y Alm rdtnetry . .e.'., : - n ... j• , , : • . _
... Neve rwas there e country with a sounder and'
. .
,more. unifaiii-chr ' than ours, when, from
: what motive • iris now u less to inquire, the :
first attack was made upon -it itr•1829.. BVCII
• .the mightof that popularity Which las foi mei]
•iiiiiiingulhr an era in ' our history p's a:people,.
: Made slow' pregresa'during.the first yearns of
the inorrienMns Warfare. - fmthis State, sodie: '
~tilig,uished for her gratitude amid devotion to
',' . '. ; tlieleeder elit, if the` Legislative and Execii
:-..';,:',,,ire-e.,,Voien-maylietakeir-as-arr index,: -public
s l pieimremained trite th the Comnion interesia. -
~ellittes the sessionef 1831-2.. And in C0n....
ert;liii, wheri : nrritigited at ilia bar of . the House,'
by the Executive:assertion - pi' danger to the
deposits-in 1838, the' American people`by their
representatlyes, decUifted lthemeelVes satisfied
1 \ -
With their eurreney,.and with the depositary
_of their Wealth. ;4,1 - V • .
But, while the -news-ktf-this-verdicit-was
yet'fresh in the mind of.the nation, the unau
tliorized.and startling measure of the. removal
.of , the-4)3054a was , bensummated. Since'
whieh'time a succession of "measures; charac- -
terized by recklestiness„ Incontistency, ..and
-short-sightetiexpediency,inive 161 lowed estch
other . in such rapid succession; Is scarcely to,
allowto,becomesacquainted.;.with their
true character.'
. The country , has-been carried 'through' a
cottise' . of State .Bank . currenev—exelosive
gold-and-silver-eurrency;. and. Tilasuiy'-npte
s_urr6ncy, .which is only another name for so
mudh'neiv.'national debt, till gold and , silver,
.the.only legal tender, .and .the true constitti
tional kutsiel of all- eurrency f l , .hate,actually
ceased , to be used as,moncy, - And , ate
bought. and sold as=an-article of-meichandise
jn the market.. • • • • •
Upon Pennsylvania, as was before remark
ed,-the evil of tampering, with the currency,
Anis fallenn — Comparatively lightly. This is
owing'to various causes : • •
The general prosperity of businev r andathe.
full - prices To r. a 11 -kind - of produce nod. articles,
Which preveiledlor the Mit lour yours, - had
just disencumbcred the farm§ and industry of
the
, State of the.debts entailed on them by the
reverse that followed - 1814, and left both in
be best possible condition•to bear..a change.'
The debts, to the banks •_particularly, were
either 'much diminished, pr gerterallyefa tem
perer), kind; incurred . - . for mere present ac
comodation....._L.
The ruinnus.spirit of speculation, Owing to
,-the-more enotiousartbits ofour fellow r.iriZens,
had not Made such progrees in: this litate,l§ -
in some other portions of the Union—Though
it had stirdini - arlarmingly during the feiv past
- yeats,;yet the amount orengagements . made
tlniler"Al i t nnl oly prompting w ifo-Vit Each=
materially- to effect our business transactions:
The hurricane which has swept over the-land
has; it is hoped, purified our issiness---Utnios
phere of this iiifictiotis disease. . ;lhe acciden
tal remedy has been, for the priserd.elnctua I,
fibre selei e-than- - -evenet he sfernpst pa - '-
otisin could presoribeTz''.
Thie ! ::(j w it ; tiou- tint ...pp6rat ions of a• large.
portion of, the_Public' wrirlis and ol,lier .means
of internal coo-minnication, had added Eno-eh.
'the . real *Mil, and had invigorated the use=
ful rind sure enterPiT,se. Oftlia State, brullbrd
..ing a market - to tho- rich • nd uririvaird • pro
:ducts of.remnte sections, and by coriferl'ing-oo
our citizens the certain profits ofa larttecarry•J
ing true in almost emery citulder tif the Com
monwealth.
Tic&-law.- - 01-1 - B:29,prolkibitilig the circulation
Bank notjs under five dollars; hail placed
our Currency on a firmer basis than tiamerly,
•by restraining•the increase--of—paper circula
tion; and.by increasing the proportion of 'spe•,!„
in the hands of the conmitinity and in the
'Banks.—
• .
_ The continued — pt. - di - TU .- en and- operations--ofd
the - Baas of the United States, also gave to' ,
-the other - State --
-generally i a-simindnessaformity thatmer
extremely beneficial.__ -1 he State also owed
raetot'Jier=l3shkitrg
- institutim g i,ncrally-and-le , -the-safer-atid-pru
dent-manner _Lin.' which they
_had for'yeass
past been conducted•in coniparisorf with others.
Thenature too.cf_the mercantile-_ business.
otraur,ieorir tiforgral7Metropol is was of a firmer.
• kind than that of some of the otTter sea- oar(
.cities: debtors general-13; 'resided in the
'agricultural regi nsof the Nest, whose.
gets„ not being extensively connected - With
foreign nations, .wore riot so .reaterially affect- .
. --- e - d Fy the derangement of trnde(as were those
depending on tile Southern Cotton, Tobacco,
and sugar plantations._______Mins on other
States hayr.jiamtherefore . generally.secured, j
mid:the effect on her credit and that, of herin
stitotions; has been_ _salutary - in proportion._.•.
ni - ust - the - steady - character-of-tho-i
dealing portion bf our community he overlook
ed. The
.prudent, though enlarged' views and
solid operations of tIM Merchants, and the ad
mirable manlier in which -the manufacturers
maintained their Credit and operations.through--
out the reverse,, are worthy of all praise.—
'Sustained as they were by the steadlaSt lab
-its and-sure , capital_of the_thec •lauica_und_far.,l
mere, all have.passed the.ord al in a manner
at.once.he'neficialmal . _ hone able to the State..
- But all these adVannige would have Wen
of little aviiil, - ifthiring - pe - tirst - panic of the
suspension, an alarmsit community had sent
into council an excited Legislature, WjinBQ,.
action then en the subject would only have
added to the evil Vend whose fitildre to act
at all, would have the odium of - its con
tinue nr.,e to their own heads,from that on - which
it now so deaeiVedly and plainly rests.
Under this conviction,yvhen strongly urged
in Nay last-to convoke the Legislature, that
nieasure was declined, and the_result - huslieeti
a still further addition to the advantages which
we already, posiessed in - the novel conllict ; noW
'Waging between the interests of "the . govern:.
meal" End - those of the - people.. By avoiding
that measure we have escaped the utter pros
tratinii ofills currency •by - a Naar - emission - of
small notes, - 7frielf - th7s - Legisluture - wonld - prei
liably have authorized, and which would have
continued to curse'the country long -alter -the
present illegal circulation of a similar de
scription Shall have disappeared.
__ We hav_calso avoided the evil of an undue .
expansion by the Thinks, of - their general Cir
culation, welch wand have undoubtedly fhl
lowed a - law legalizing the •suspersion, and
which heti been - prevented - by the tsfiolQsorilß
fear under - which:-. -they acted - for the list six
months.
• In -declining to convene the Legislatare,
occasion was taken •,) appeal to thd.patriotism
of the, people, in support of the credit. of the
State and .her 'institutions, and to. warn the
-Banke-against---speculating--op-the---mislbrtune
ot-the.times by flooding the country with an
-increased--and-depriciate_d_papersirculat ion.
They were at the . same time encour ged to
hope that-4 the, proper course .was.p sued;
e 4.
thent?listire'into which. they. lied, b com
.
pelled by,necessity, wettlit, - itno - undue - advan ,
tages wereqa ken of itioot•b2 punished as a
Wiiiielmetreated as a , nisifartene. -- • •
"It is now.my high. gratification ,to be able.
lo annoutice.to the 'Legislature, that not only
isive,purfelloW-citizens gem-rally amply / sus
tared their OTtrlefintarian - fOrgoon - thitlorndt
tb bearatce• lir the trying crisis; btlt , i hat-the_
portion of them connected with, the Banks,
-have reaftzetl-all.that-s.,tos-glipeeted...._2ll_e_re
.pejl'Ofthe Attiptor,General, when laid before
you, will show that there has been a:material
decreape in the amount of . notes' at Za:CiiiTa',":
tiotvand tin 'iritszsH elis.m. o :lite . cid since the. sus
nension : -Also thattile debts dne_to . the Banks
haVe been reduced, which .result meat have:
been produced without :distress — td7tlie 'corti-'
triunity, as no complaintsef'llitit kind hive .
been made knoWn; and that2priVate deposits;
Which are the best 'evidence-of public -confi
dence have suffered very-little dim i nution. .
- f itec!urns'llad - been - -received on yesterday
:frotn,- . o,tlst.batilts in did _State except-the
Northam plOtaa nk, the liminberrinina' Bank at
Warren; the Honesdale Bank, and thetolurn
bia- Bridge con - Many; the Whole number in the
State,boing tiqy ,
• .
Thwr•circulatton, SpeCip, discounts and'de
potips; stood as followst in - -rthe ?beginning - of
May and Novemlier 16374 A, . -: ~., ~ :„ ~. •
t' " - - ----'--- - . - 3,1 * ' • _..--:November:.
Circulation; .21,063,54:1,05. 164104,529;21'
Specie,' ' ' . ' •4,391,07,2 23 , ~0 ;900.510 88,
Discoupie, - 136,407,013 43'- .09,942,755 00'
Deposits, , '12,491,00S - 15 I 11,930,279 21'
.
. . . ..
Bence it appears r that there:Alas been ' ti de
cretin of circulation, to the amount of tr4,809,-
. c
003.84, or near one .fourth, since the suspen
sion—.—of discounts to the:ainount of . $1 4 6,464,-
858-43---oraibout one fifth, aud'of deposits to
the Mnount of $557,704, or bout ones
twentieth-.—and that specie has increased more
than 'one..half, or $2,515,438 65. The re--
'tarns yet to lie• 'received -will not matarially
vary the result. - • , •
'lt thus appears that-the banks of Permsyl
-Vrinia are in a much sounder condition ,than
before „the suspension , ;.aral that the resump
tion 'of specie .paymenp3-6-so•far as it rsiro - perls
on their' situation and resource's may take
place at any.time. .
But we must not rest content-with-the-confemOi'tion of this gratjtying.state, of. things.
Though a favorable "'combination of 'circum
stantes has for. the present gularded us from
the extent.of injury to which the occurrences
of the .pdsryear.exposed the onitnOtiWerilth,
it is not the part of:prudence : again:to rely oh
a similar escape from danger. Ouf ,duty is,
if possible, to prevent its recurrence.
The Banks liwe well sustained themselves
through the crisis; but the Bunk systeni that
could- admit of such aqrisis, must be dace- -
tive.
. ,
. . . . .
The fact that a general sus p ension of pay
ment-in- go,lttritid silver hen taken phiera, With=
out produ . eing a_getieral lorfeiture of the ; thar•
sere, though it was the evident...intention of
the LegislaturAto prevent_or punish such, a•
catastrophe by .that penalty, neither justifies .
the suspenSionolor:_proves- that the penalty is
unjust. It onlyi shows that a'erisis.has arisen
not foreseen, by the 'Legislature of 1824, In
which the infliction of the-' tenalty -Would be
productive .el more evil>6 the crapiormity than:
a - continuance ,of th 6 susPe.nsi —lt is a . re
mailifthre instance-of the ' v.i rt iit I _ repttiarti:
a
ifi
general 1.%r - of the
. land by the expressive,
but silent action of public neces-i y which
even-the fiercuress•of P•irty. zeal It beetPre
`strained;''•••••••ol'• the- votes - . poll ed•-•-rtt the- fete
general - election, a srnall majority were by a
party one-of whose professratptinciples was op
p.,sition to Banks: It is a fair soppbsition that
this•majority held since the suspe nsion, the
same proportion,of the
.bynk notes of the State.
was t erefore in their.power to have closet!
up
cu
ata - d
o lL'ed ted-titFTEirter- of - every bank' in
the
) vettlth,. except perhaps
,two or
rtiree.-.1.11111, • . . nor done so, and the rea
son is, that !hair t, t, and thrapublic• interest:
would-have _ thereby eufferedl The .public
• agents, both •Legitsla ye and Executive,. are
-therefore bound to act op +thin plain inti
suction- of the._ pu is - - tvislr. - A tabr - t his Cori::
struclion the. Leg islatttre'nfe the' more coot
yelled to respect, innsmityli asi by the 19th nn.-
. tide of tlie'act of-25th pt March, 1821, no. tor-
IT iture can take place for InerestispenitioU!7,.
gqlilezAtitt.q.-.4jrv41,- I „l l) 4,agacklikit4 .' il ' fAtii
pie who are the note : 1101pp. '_. r ..
• But though the Legislature may-thus be re
strained by existing rights, from cons-MO*4.6g
a banking-system efitirely in...gie_ new, yA, it is
-their duty - AO-take such inea..arreiltirrlie - pfo - --T
-tenon of-the future,- as 'the natu Le of the - raise
demands a tal l will admit. . • •-.. • " •
Thiirgrent object of a reform - in - the banking
:flys tel4.:.tibLuld..ae„elfddlun Ily to_ratfrbAlre , :pint,..-
II cr-to-do evil, .without irale_rfl,:ring with the - ca - =
- paci ty -torpromotrathe;cottitnett-good. 'To Hest
-GOD) plis4 7 -thiti-dosi-rit-bl-6-t41(1-A-tildLrecet -
mend the incorporatiorvf the filllowing.pro- :
vtgions, or of others calculated to produce the
same results, in all future' Bank laws, and
t their . instant-application, :Eh far - as-chartered
' T.gh tirtititi -i 1 lit itii'at tlie-gaireVittal•lriwito-•
the Banks now in existence: -:
• 1. tht• profits.cii dividend payable to
the stockholders, .be foreveiNrestricted to 7
per. cent. per-annum on the capital actually_
paid in,. • • • ••
•1.-. T h ant the notes in circulation . be still
forther : credticcd; in proportion to the amount of
capital stock paid .in..- Itinay, by tho_present
laws, be nouhie that amount.
.
3, That whenever_ the. - specie±ofsony Bank
shall_falllelow_u_fixe.d_proportion to the notes
in circulation, all increase of circulation_ shall
be strictly prohibit-0d and summarily punished,
until the proportion required - by law Shall be
restored.
4: That no loan shall be made tO'-liny.bro
ker cr other person engaged in dealing in mo
ney, notes,. bills,,or other evidences Of debt,
nail_ Orsini s_engage.d_in_otheebusines:s, n nd_
pu.lo - itings equal security, shall be -first. cc
eaninoda ell ; nor_anyloan. be inpde_on pledge
of, stock, nor -on-any- other-security, -except
that - which - is usually -- demanded. And that
loans to Director:, directly, 'or indirectly, Shall
be plaCed tinder similar restrictions - 1% ith those
to brokers. .
5. That the amount of I..ans to any individ
ual or firm, wln ther as drawer or endarber','or
both, Shall not he permitted to eicitecd a cer
tain sum -fixed by law, except with the-con
sent of three-tburths.ot. the Directors.
B. That the excess or annual profit freyond
6 per •cent. - shall be Invested•by thp..pillcers of
each bank; in such manner. es'sliall be.appro
veil by the State Treasurer, until it reach n
cent,, in anniunt tt.r,, be-fixed.hy la W, in propor
tion tothe capital paid in, as erseparate-fund to
secure the safety of the hank, and to redeem
its notes in : cane of accident:. The ilmil to fn.
tinitei--t-he-tlisetion-mr_the„._,St cc_ lc hol d ere, wh a
shall be pireiitted,tiftet its ceinpletioe — , ilires
ceive all the-earnings of the Bank, until they'
shall be reimbursed 14 such portials of lie
dividends between 6 and 7 per cent, as wer e
therein Invested.. But after thoy. shall
_have
been thtis repaid, all excess of dividentl over .
7 per cent. shall be peri-dically paid into the
State Tiettsury - for the use of the Common . . ,
.Weilth, together ..iitlitilie - run& itielr,--efatlie
epiration.or the- charter and disCoritinuandc
Or the Bar*. .
„ .
_. - •
7. - That every Bank in the State shall be ,
compelled to keep its,,notes.fit par in Ilerris,
burg, Philadelphia and Pittsburg, the one the
capital, and the others the great commercial
-emporiums-orthesQummortwealth r or-bp-sum--
marily liable- to the- holder for_ any discount
.. ..
in_curreil. ' , .
8. That a laN . v be ,passe4fixing, a period,
.not
more distant;..than three, tour, or. five years
from the present, for the exindsion From .eir
ulation-of-all-notei2of-a-lower-detiotnination
than ten dollars. . _ - -
the
. 9. Thai Pr litient anti
. Direelorslor ,
the. year Ourilig . iy iidh'ii fauilierisroil of specie
iiayinents shall tc . .ur in arty, B oi lc, shall he in
dividaally !nibl tbr its lintes,',und'ilir qr other
Tl a i ms - nuai npiit.- ---,------ 7 ----- 7,7 -- -..-1
,
10: That' hereafter no bonlis'or.price shall
be paid to the state Think Ofr n char
ter or rocharter, other than the excess over 7
per een!.. of its nminarprAts as abeye,pien,
'elia)l . lM. sold
by ',ittietion, 'Os e.xcCS'.abcitie pas — value, to be
the property ot 'the - State but to be invested
in the Mind abuse described till the "expiration
of the•cliarter. • •
' 11. Anttlinally, - that no bank . ho Allowed to
go
,intoi emernt ion uptil one tbird..of,its stock
:shalt lisve . bee n ts 41,y ; pi _1(1 i •
These linprovements of, the
,ystein, I have
' little doubt,' would effebtual.
A to the private' profits of bankirigihtn;
become manifi.st!y - neeeesary,to prweet Focie•
ty against the danger and-exile sprirging from
the desire to .realize-'large dividends, titit it
should ~b e • aecomplislied in Kith 'a* manner ifs
to Strength - en %arid not weaken Batiks, be
cause '4lid.'pablic •tood. AnyolVefl "1 h their
•-1 tt is ;to; prod ticeillitidetibld'feWni
that *Op beyond n icairertable' sum la le
orninerit4ple-be'reta inea ' kr- the-pUblith - es,crt
la to
.:rct
.snit thatOneteLid Wirt Aitken , 1 (j
the . publie coffers, .
ciiiiSehe 'of , ill'uffieer glit,o „ 0(1 -
gieletilre~ in such tlinn~~ Promote
al soundness,:o' the.
beet interegits . bf ass 4 ""'`
,
infusing
ir health into the currency,
-
To prevent inisconetruction it is propep,
state, that no intention is entertaind ctf crea.;
ting a safety lurid 'system,••by. which all the
- prinks-of-o'e State-shell be-involved in-one
commbn. doom, to-he inflicted at any • moment
by Legislative, or .V.xectiiive authority. The
-objectos briefly titis-:—To =prevent, injury,to
the community by restraining the profits of the
Stockholders; and to benefit Loth the commu
nity and the *eitholders by,permanentiy in
, vesting the exec ti of pronti.of melt Bank, in
a separate fund, tot - itb-OwyrsupT-:and,Pro
tection, and without govermenta control or
'int.erferenco of any kind.
...12The-restrictionaorcitculatida_to rut amount
-bearing a just and- , a : safe proportion to capital
paid in,•.and' to specie, and: the presence, in
each-bank of a permanent fund (which Should
be - considerable) to guarantee the safety oldie
Hank creditors; would at all _ifmes•Merit and
obtainutiltmned conthignce for the
.... , . _ •
.banks. " '
The limitation of , the.profits of the Stock -
holders, : with the increased respcinSibility - of
•llirectors, would both ri move t he. ternpt a i iOn
te'undue spectilation -for the sake of obtaining
large dividends„ and- the consequent dadger
of ' the Jain being' . corn pejled - evert() refuse
redemption.- n specie. - lt•would
. uiso most ef:
tactually check the iner-ase of Batiks beyond
the actsaLwants of trade, soituOlere would
be little risk ever after in ereatinettny lank
‘Vbese stock could be( Subscribed and-paid in.
, The 'regulation to keep all the banknotes
of ' the State at par at certain points, Would
givie a uniformity to our currency over the
State,_and a State epundnesaand character to
it 'over the Union ; which. would be benckial
- und desirable-in every respect. ,
The keeping of all the- - notes•ofilie-State-at
prIISII over the State; anti - We - prevention - or
loans to_ mete dealers in 'trolley,. whether as.
Brokers or:Directors, would go .far : _teiwai•d's'
tlte,abolition:of.paper.shaving,.arld mould Jose:
the effect'of scenting bunk aecoMmodations
thr the ^useful man of business. This desirp.-
ble result would also be aided by limiting the
amount of loans - -attainable by each person,
and by discuinitenancing loans on pledge of
stock.
'rife --djsu se--o f—rt 11-n otos 4 . 1 nd r_fitl.o
still fOrther widen the specie basis and in ,
crease the• soundness of the pap - e - r . sygtetn.
Now 1e the time . to take :means to accomplish
it. even in.t be midst of • the illegal small notes
iinil general depreciation of the
banks have'feene,rally diminished their =cu.
tallow. - -- TlM — decrease consists proportiotntbly,
and. iii some instancesinainl3;,.of a withdraw
al of lit e.dollar ntites,prepuratory to It.ptiitial.
resuMptiom • 1f - they be now told that
. there
note s4.4lltl,l,l4,44APiintinu i_:cLa.t..p. period 'not- r
.VitY4tifQ4/tikief: ifOkir.',fyqW l '7off!');l 3 ''
amount 4fbniliness, - to tlirow - un increased.
quantity of notes into circulation. 'l'lltis
the change can take "p'aceLwith little shock to
the : ct.tinuuni'_y—or lass to the banks.
To extricate the comM f'
eree and currency o
the 'country, from its present difficulties, little
the.tuftver_of ttitn tel,el2-islation, and there-.
Are Utile 6'1.6 - wired to be:done.
1 :- -- T116ki611T211- I umptitin UTA, pc cje pay in n
-ffeit...thougll-.1011-40 - -he—tniaided-Tenter prise-of
tl'e America(' r' ( -) la cannot-he,-birrlistanU
All the signs of life times indicate it. „The.,l
premium on specie, though recently fluctua
ting 61) 4 :lei:mint of the greater deninnd of filial
season-or thei-yeari- has fallen regularly nudd
general 'business of the
'country, is fdst
though fiir . - sliort of • t lie use, I am '1
prices
,of hind, and of pridu nil' all other
have neither decrd'il-en nr experieti
ced that siiden rise whicV-hetOkens a great
-want of copfidence . in tliOiltinnite_sqindness
of-tlie-ctirreiley. The notes--,ii-b - iiiVs7_ l
much. decreased in amount, have lost the grea
ter port of .their...distant cireulationi-nrid sic
now._ generally clustered around. the instil u- .
lion wit, lice they issued, in the hands: of its
.with perfect-conitlenee,
The only oh-do:el° in the way, is the reinnin
ing debt'to _E6 rope for articles bought MI cre
dit.by the ithporting merchants of the Union.
This- will. however soon he removed. 111 n"
cropyl,ribother year would completely clear
iG eft, even if We resumption of the usual bu
siness intercourse were ode to depenrrotkitg'
previous and Lull discharge. But such is not,
.pit,will_tipt . be the. case._ Enrppe, and,particit
lardy Chest. PritaiM cannot well aflord to be
-deprived-zof-the-custom of American Aler:
chanty for another rear. Mcans`will be found
to arrange the gradual 'payment of the small
balance yet due, withoutdog to rune party,'or
incootiemence to the other.' .And then the
usual' Crude will be resumed. To the prodOc
tion of this desirable result, which will ho the
sig'unt - for the resumption of spook pay n'plit 5,
the increased souridOess of the Bank's of Chie
State, und the noble and 'patriotic rilints made_
by !lib niereliams of 'the North and !die:plan
ters of the South, to. Meet_t heir engagements
,hy" purchasing, specie <at any- T.irice, and by
shipping . their cotton and other-it - Hicks, to
pay4heir debts.and_.redeem_tbelionnr_or_the
country-, will, as they should, greatly contri
biltey • .
In this, view of the' subject T have now little
- don lit7-VtAlatt4itel..egislaityreliriar. -- th-per-
ect safety; fix an early date for the resunip
ion-of specie payments. The soundness of
her Ba ells, and of her g.enteal currency, Will .
necessarily place Pennsylvania- ftireniest, in
the atteropt to aecomplish•whatever is in the
power oftate Regislittion, on tie subject.
But there, is 'one view of the subject which
- ,plTlSTilit - s - tlie st rongest reit t . iott for the Oil iCstpos - =
Fable resumption.. The general circulation of
irrcileeniable pr'otiiises to paf,by and through n II
portions of society, is not merely a disease of the
currency. It is a social evil—a great moral
teitti'—' which, ir.ion g tinearrtctied, - z„will
dpuLtcdlytrove the most deleterious influence
on-our eltavacter_anti:ljappiness as .a pe0p1e... 7 -
PetinsylVania:hositeretut . ore_been characteri
zed b stead nod fuilh untl7ttilliefence . to
- PiiilCiple.'ll. behoves her public agen now .
to guard this brightest jewel in her -ati-- llot by
restoring its usual Unsullied purity to her pub
lit.L.character... This.etin only .b 6 done by ad-.
di g-actual - pdr - k - ninance to - the prifite pronn
.
'ses ()flier citizens. • • • ,
The only branch of the subject yet remain
iris untouched is the flood of small notes,
which has so su d denly and gpierally:envhred
tll - 0. - State - . — Tliiii - odienfs name by 41lich.1hey
have, been branded—tbp attempt niade,.by
`each political - party to stigmatize , its opponent
with the-lila:he of their origin, and the litffr
dislilrA
th . ev...havep , true received
by the puldic generally, though a great pro-
Iportion .of thorn proceed from sources of un
questioned solvency, form lidditionat,strong
.proofs of..the urtsuitablenessa striall notes of
all kinds to'our wants and circumstances.--.
No Legislation it required to rid us off those
that now infest the State. They are, every
One of thern,..clearly iti.-violationlof_thit.act of
Assembly of the I:2th April, 1828 it - the sub
.
ject, and will disappear tiF soori.us th inipri
soned,coin of.the. country resumes s tistef
Tlie:n, `without regard to °'
redemption set forth on theiabecßeafem, be it
one, two,kg. ten y ea r s , w itb.., f ewithout inter
est, the holders demand, instantpay pie . pt; oraue,,Aoi rind recover , thei..onalty,
of $5; and intikest, Milicted on ..tinikr issue by
the othonglaws. • .
Re r all, the 'thiirinizb Perthanetif
inedy..-for: the W. come-from.
WaShingteti. Iltitih Crin,grenn - SlitilL:tteyiSti
and - nclopttsoma . Menits` again , giV6
'•us,ll irehq` 0101 di , er theVrhote ? sad `to the
wants of thn whole - 131116f
tional Goyernment'Shill the
pearlo to judge . otite • suitableness • to• `tfteir
.
ciwri-iwants,"there can be no general anirper
manetit'confidence in the currency—no 'fixed
'value for property—no enlarged spirit in coin
merde-and trade—and cOnsequently,-little-en
couragement-- to laudable enterprise-or-
, proveinentef any ' •,
_Having thus fully declared my views (in this
exciting subject, 1 shall proceed to the ether
Matters which require-notice._ In the annual
Massage to the Legislature, at the commence-.
melt of the last session,' occal;ioifiinis' tike 10.
declafe l at length my:view - a on all-subject - of
importoce, in the hope th# future commni
cations Nigiit, be therelyfindered more b
Permit' ine f ,now rropectfully , to refer yOti , ‘
that document for my opiniona'ori "the matters
'therein embraced, except
,so far as sotnii"of
-them may bp 'more at large explalized in this
message!
•-1 must, however ( again urge upon the. Le.'
gislature the necessity of-a hiw. - to.prehibit the
cdministration - ofsa I l extraa - judicial oaths.
The finandial condition of - this Common . -
'wealth is, at present, mostelieering. By r - e- ,
ference 'to the AuditoeC,,eneral'a_fteport, it
will appear that the amount of actual receipts
into the Treasury,"during tho-lisal year jos!,
closed, inclUding - three .7diVideride''of Ali& na
tional surplus -revenue,. and 'The balance-on
lrnd".o.-the critnme,ncement.of the . year,,,was
$9,394,070; and tha t,the expenditure during
the same period, including-all the . expensesA
lAiication Internal Improvements -was
114,173,040 20, leaving an _unexpended I.)alanee.
iii the Treasury .on "the NoVember,
1837, of $2;2'..11K125 - 74: .
The follow,ng estimate.of the operations of
the Treasury dOririg-i he prdsent year, is part
ly based on the 'calculations of the State Trea
sit re r,-a paity_on_ et Ri operations:Anti rig_
the-past year.
ESTIMATF:II2:RBC-EIBTS-FOR__lB3B..
_Bank Bonuses, _ - •
_5235,000 (10
Dividends otilaik.S.toilk,
Tax..on - Batik D s ividends; 100;00 00
Auction duties and Crynrnissions, 87,000 00
Dividends on'Bridge and Navigation.
Stock, 46,000 . .0(1
[.and and Land office fees, . 75,000 0(1
'aven] Licenses, • , 50;000 -00
Reiuilqrs' Licopls,
'Collateral Inheritance Tax, zi,,,,...
Tax on Writs, ""7' ,---- 25,000`"t
Balance on• State Tax of 1 . 835, 20,000
Tax on
. cerain offices,- , . . _. _.8,000 ou
Hawker:olnd Pcdrars, and Tin aiid
•
Clock .
x• on Coal Compnn lop,
Pees
,0113ocretary'§. and ..Auditbr
General offices,
Pamphlet Laws, English and Ger
man,_ 1,000 0
Oltt_',!,tn.alftl - 111isc'ollaneous, • 0,000 0
Ciinal and Rai road-Toll4 - _ _ 1 -100 000 00
Salanee of loan per resolution of
.June 10, 1630, '1,000,000 00
.$2,41t1.700 CO
•
T9 - whlch nog balan . 9e hand at
-the cuu eucc went of the
ME
rroinl nninunt iii. Tra=itiiy,
-- ESTIIIIATEPLORDI NA It EXP EN DI
TUBE FOR 1838. - •
Interest 'on Internal .jaPrnveinent . • •-
debt, salaries,-•&C. - • $1,1x0,000 . 00
intex.est.pe, phi - Treasury loans,- 100,000 00
Expenses or-416Priii•45Werriktiftiltkat -
Balance. of loon per resolntion of • •
June 10, 1E436, •
Erie extension - -100.000
.00
'Expenses • of Government, •••• '170;000'00
•Du, or Convention to propose a- •
mendincure to the State Cunsti
tut ion; exclusive of $71,730'67 r
already paid, as per estimate of
the to Treasurer;' 150,000..110_1
Common Schools; being the pro.., •
pOrtion thit wilt probably — he - 7 -
drawn by the-accepting districts
within the year,
Colleges, Academics, &c. (old up
prepria ions,) •- 32,000 00
Geological Survey,. • • §;00(4
'l•urnmkes, Roads and Bridges, 00,925' 1:3
etugunsiintrG - rittuities, -------t-- 457000 00
Militia Expenses, • • :/0,000 00
Penitentiaries; • . • • 19,700•0 0
House of Refuge, . 5,000 (10
Conveying convicts and fugitives,' . 1,500 00
Miscellaneous, • 20000 00
Total ordinary expenditure, $2,502,123 13
Leaving an excess -of reee;ipts
aver. expenditures at the end
Of the year, of $2,110,716v61
In addition to the Mime named re*-eipts into
her .Treastiry,Alie State shotildoin justice, re
ceivi; the fourth instalment of the surplus re
, yen* of the United Stater, the pa) merit of
whieli was prisipiined by the action of the extra
session of Congress. Though the rippropria
r ticms_hereafter.recoinmenderi, .ar.• unt_appnr.,
tioned on the certain expectation of receiVing
it4et-if it-shim Id -be-nought;with.in
the year, the addition of another.. million of
,the-surn -at-the_disposal_of_the.Le ,
1 - gislature otir __pc bile
works.; ' in that event, I would tidy's°• an in
crease of-all:the. appropriatiens - about to be
named. • • • • -
The. chief demands on the surpluemenns of
the State Treasury,-are those. for Education
and Internal Improvement. • • •
TIM - reportof - tlie -- Supefintenderit - of -Com
mon Schools, when laid before you, Will ex
hibit n niokt cheering condition of that system.
The first Tuesday of last-May, was .the day
on Which, under the present School law; the
first triennial. vote of the citizens of accepting
Districts was tiken to ascertain whether the
_SYstern:shot tl if_ be, cOnti nee or. not.
that question was submitted to the_ people in
a large number of districts, yet the-Superin - r
tendent - hrisenot - been - officially-infOrmed-of-the_
rejeetieh of the System by a smile accepting
district. Doubtless there are seine,
but their
Poporticin must 'be small, inn much 725,0 f
dtstriefirliftlfe - State; -- hrrite - aince-t he
first Montlay.in June, entitled - themselves to
the receipt of the State .appropriation 'fbr the
'present year, by leVying the necessary tax,
end have actuallyriceiVerl • their money. ;Of
The remaining diStriets - 75 - werw- - : a ceept iiig.
last' year, and had the system in operatior
then: If one-third of these; and that_iii.oorri . i.
Isgflmne.a. ' 4
ejected i
remain, winch, added to
present number of accepting. raid
- districts; lea . *
accepting:districts Will give as the whole
225 still opposed to the sVstem. Olin
first
time,aceepted. It will thig
which have been - paid 80 haven simtr
~.-p e rcilvech,that ,
the Common
maintained its'
trienial , n ,„,..,,,irtythrough; the - tesear the
. &hi n t has . :miire than
of . its chnttrittance'nr iejed.;~
doh,
l a 1. . - tried:the expari' -
i13 1 " °4? - :
part of the Sc . p . 1 lhiv is :inuch'ionn- 1 ,
pl ain ed. of.' - ' - A''ineFe, mai('
pelted in 'a' disiriet;'nci - matter hoW•siaiill'the
ntiinbei:. of persons'' voting, him
riec'eptibe the I systein- and tt atelOg it upon
the igrict kir three - years, though nn the'otii
ei handtit.rerinireh 'lVCl6ai.'thajority et - all - the
qiialifieticitizene'Or.ther - dilitridtte'diseiiittinee
eh once` hi pliOrat Md. This ib wrong.`
raetanniand4hat theiniv'be•
an' modified-that the'Syrifeitipbtillnot into
Opetation:iit''6ll'.'herinfiei; l •eicelit 'with "1.1i4
consent nf,-11 el?arin!)inOty, "all'the qualified'
.OitiZSistinf the'diStriet. , ."
The atiplajiiiation +of the School Ilauseltiod
of last eessiOn has had a most salutary-OfFoot.
..
• e iiiiii - if.o to'reiteritte thetrecominendatiou . 1
then made in' ttivor .of a. permanent it - d - diticht ,
of $1.00;000 a • year,. to the ordinary annual
appropriatforr - for the-purpose. ot instruction.— .
Tbis sum "will raise the permarfent appropiis-•
tion to• $300,009, and will enable, directors
(Wring: the tifixt.three years, to .earry. on their
operations, and. to
,test thj - experiment fully
without heaicy'taxation. lf,_no_tw i that a nding. _
,thlit. additioh; the-systeni be discontinued by
the people,,,at tho.end l of thattiple; the Legiis-,
Anture will-not----thave .tCreproacistllieinselves
with'' ts ()Allure. • D' it belidifilttod that whole
soiue cultivation of fhb moral' and Mental fi- , ,
cult ies no.tortly raises the character, ificreases
-41.e, halipaiiigsvaiklikerpotuates fhilibeilie"S"6,l..
a nation, but actually adds to its t%ealtlf,•by
bringing,the hest energies of the_miind, and
:all the shires of experience and scieiice to•aid
„the. prod ical business of life; no. otherapp_etcl
need
.het niaileiw
n lan'. 'of Cothrholi . i•::clionl
education: ,- rie-adskitionitl-4Mpro?riatiorivihji
he granted, slMuld bii so.made that a . corres
pondent increase of schoof t ta.x shall hut be
heceFsary fo obtain it. ' , • '•• - . ~ - ,
For thrther informalon,- . and plans for tle
improvement of the system, 4 wOuld respe •t
-fully roferi he: Legis.lature to the:report of the
ttuperintendent, which will -bo Stiliinitted iit
,the proper time.- It will be, rtfust,.i.iiiii. ces•
sary ' , i bespeak 6d'.- f+- - ,blo attentiorrta,the
Ogi
. .
A linproveinent ht 6
ben Irlift upon. tiniTieto•-
Sup -orniugits main re
'bin, ,g to the juit,Altoligli
inc( r the Nattorill spr-
PIP- ------- this; and to the fail.
ure of - the- river-grown appr‘ in itition bill et
'lost session, Moen would but 'onlylinVe •ex:.
fdt - ita -- thi_T — Treasury, • tit-
turned out, woeld have added another to ltiun
to the. Siiitedetit.,ltteTreasury is 'now •in.
condition-to-carry—on --t he hl ic - works *withi
all-necessary -vigor r a rid Within t•resortt to-per,
manent loan or taxation..
The revenue from; the public .ivoiAts: fel!
1582 , 1,649 51 Olen daring the Past year Of the
estimate of the Canal Commissioners.. Its ac-•
tual. atuo - unt Watiftt 975,85049. But all who are
conversent with tile matter are convinct d
tlipt it _woul dint ve Weal - 1,1,300,000 iftbn par:
olysisoflast-play hind not fallen on the energies
of trade. The estimate of the Board, -for the
present year, is $.1,400,000 in which I concur;
believing ihe' it cannot fall
idly short:of:that-atm,- no-mutter howlidvai
the 'State generirbusiffeiS may become,
may, and . prohably Will reach $1,500,900, if
the usual degree of prosperity be restored to
the country. The Tolls of last month alo
amounted to about $130,000 of that sum...
OM
27;0G0
:3,500 o_o
1,300 00
700.00
-In s:upprxt of this. opimon; may be
_adduced,
the facta that_whilist,the_canal-& rail-toad rev
e,nue of the State ; has received an addition-of
$447,514 74. within the . . past year,that a be,gb
boring State suffered, a deerease_ots2,l7,:336,-
MI. This improvement in ourrevenue, in the ,
midst - of - gem:rat depress ion, is. - owing, to the
ftuid of business On the.,..pnhlic Works., Our
Coal and Iron and other heavy fnilispensible
alb (-I our own products, must find tl sir
-way to-inarket4lirbugli:albelimigestAlliliftho
-nrere-carryurg-i rade - 4 our"i7+ri~lTburrswiti al
ways-feel d: disastrous effl.ct of every coin
•
iS Me growth of our coal business, is the Ind
that -tlie toll this year, received by I lie_three_
great anal companies crf the. State—the
Schuylkill, thy Limon and the Lehigh amounts
to t1, , 547,:01 87 up to the middle of Novem- t
2;220,1:35,V
_' .~ [,T;? T; 831..._4.
alt the tol:ow i tig mit mu. r, Sli0ri;001.1 to• eltry77ii... '
Atervver-litt•atow-nitlor-contrac te... , .a.nd,,SIKRIP„_.-...
'-u} ,
be applied. to the imiat dllicult portions o f'
the -whole remainder ofilie route frOM the
terinitiatton of the work :under Centract, - to -.
the harbsiNi
, - ...'grirt. • This Course", by causing'
tho early • Lofton' ncement AK the heaviest ~,
aeetilms. 'will iiliimately.tfasten the comple- -,
I ion of the-whole wsSilizitith the leastiftits.ible
present outl:4 , •to thi'State...,:sti.loo,(lo;wi:l
he ciMugh for the' latter piti'pme, heeliese it „
1 - ..Wi1b..-be,inle-,-11.ti z fe_ensuing:.stipirnef,1?ehreAhk:_ =
necessary siihieys, locations and contract: ago (.
made, • prei: iorni to the , actual commencement
of‘opeinirross by contractcps. •
* The email - tenon of the Ninth Branch Llano I.•
to•the N...w YI irk/line trout -the wont liof the
,Lackawanna,' where the . Cabal now has its
- No:Ulm-6 termination, should be urged with
.all_posalitle stger. :The supply of New Yorly. f ,
and I.',e 'Luke country with _Anthracite-Coal,
_wilt be the vast and profitable business of this.
branch. The Canal also' front" Coluinbia 'tii .
r.d . e, will draw much of the Wyoming, I4lnha
noy, Shitinolcin andol4ken's valley coal the.
•':soittlf,. a ling' the lower portion of. the North. .
Bpinch and the Susquehanna Canals.•Alliere•
can be no doubt.ithereforevof.the ultimhe pr 0 1. 7.
fit of the whole hue "of canal from Columbia:
'to Toga Point. . A like appropriation, as ist. ..
the case of 1 he - Erie extension of the main line,
is recorinnein'ed to-' be. applied in the Wile'
manner tii proportimiii-that is .$200,001),. •
• • toling . tle winporaf appropriation; to ear: .
ry on ~ work outlet\ ontract, and 1001104 X••
dollars to commence the caviest au:Lions 6iis . .
Pittstsurg, has yieldcd over ~ J perTettlitillin - the ws . crtlell•Mryti - ttrirc - ltrerinter
cost, besides Tay lug- tile-expense- of- repairs, - The Gettysburg-ex tension of- the-,Peniisyl:-.• 7 . - :
which is mainly attributed to the admirable vania ,L ail road. though Mile Jiticm ri,...iS, among
manpgement_ofthe Portage road, slid the:ttit- .the_most_impordint_linksinthe chiiidof our -
mil portion of the route. The De)aware Di- Infernal 'improvement's. It wilL,ultiinately
vision Is tisiirei.l - 5 - fieftei)r. , •uircost ---- mid - - e - onnect-Philadelphia --with the__WestrikLwa-_
kept itself' in repair : Another, indioi ion of tarok /Cl/pry - direct route:l,o3g so fir South
what PennsylVania may expect from :tier coal as ~to -'-be comparatively free from 'elistruc
huSiness, the trade 011.d/skean - al being.ehielly tain •by • frost arid '.now: , ' About one half of
•Of that description.. . ,
~ .' the distance will be constructed tiftlie - Cifiztind
Improvements thus increasing in preif i nc- _Of nnother•State, the advantages of which 'al t o
tivenens. under every dimlVantage,.deinatuf, secured'. t: • law 'to PendSjilyania. We are
becioe' they arc worthy of; all the care of tik= thus 8111/9 I •hlitills cff dollars in affecting thik ..
..Legisl a ture•.. • c • .. • connection" .3.tfoAo
,dollars (inclifiling the
.
• In-making the annal appropriations two ob- portion o temporary , apprapriltionsn hove men-"
jecis ere lb be kept in View, viz :• The repair tioninly ciin'tie appropriated thin work:-
of the finished works; and the early couple- 225,000'dollare• re 'carry Ow, tork now under'
. .
tion of Um:se yet unfinished. • - . ' • • ' Contiact; add the'r j enitiliffier o commence the
. There are two _kinds.. M
r, the Whole of repairs, -prd'nnry . , ri f est- of thechnianCe of' the
le i
antfl . tiffaci•ditiary. T o make the "foi' ratite:: •• ' : .. . • • ' •••
pfactiee has lid evailed.•altitost Since if cern. - Tlie - tinicTiiiit' - yetTrequircd•to'crittili , tolhe--:.-
_tnence,m_ent_Loi_th 'eLlaystent; of appropriating .T4ngliscoatiick extenaion di he West Branch
$:..%4,000 per annum. This sum has genet ,. Canal is 341„C0(1 dull° rii This - . im - Shotild - 6re• - •7
ankbeeit.insufficient, and principally becalitse givitti,..thsi *that: siofle may at- igth be fin-_ - .
it wiis not granted until so late in t h e winter es ..i,sl ie d.; • rilw...zi'giAllitre• 'should_ iilso_Lialp
-to.cause_thernecesSitryirciriLkqe...prt secuted means ; oansceitairPthe best mode , r conitset.
in emit haste; and consequently; underr••••7vAt. i n , f ! -- e - u -
:.• tire riot,' the -W est LB rrnti), withihnse-'.-
.disailiaintage, and :with greatly •increased eio . . 0 ' the'•Allefilheay, sat that a Nk•ater•vomidunica-
Pen•Se r that the works s inight„lie fit. f,,,,v i r- b : tion , r'- - ti , rinctl -- .' ttet*feio: Easterri - '
the opening Of the Spring. $423,9„p'1!,,-..:.' eye. : ....
I.stiflipient forritulibary_i•epitlys.e• -r •
IV provision he naule..for - .6
public-and pi i sate in the - StaTti - ..tlie iffitittutroij
graim,flouri- merchandise - &c., t ran - sport ediliir.
rine. the 6eaFun; has greatly dtcredsed-the,
i,
artich s of co iloind iron - where 0.1 n. porte,d,an
the . lly onmi - that have maintained • heir-usu
t...t., i •gressi ye:advance: •Of not tracite:Mna I
alone 1,000,000 t:ms worn cnrrie I to markut
tV , past year, being fully 200;00) nor titan
rrt .oi
-4.l4orprevions season.„. On the St, te porks the
mintage of coal_ and viimn increased fully pnr
"third;' - whit e must other-nouiles , mitterbilly.lde;,
cre ised. The increase of tunnelling was shoot
.0.
on filth. . •• _
This view of 'the subject not only enables u
to calculate with certainty on the inerenset;
earningsrMi the . ,c Works h feattec, lit,
justifies all netsarY - expend i a re (hi. itquhr. ,
- o - O - iii - ptaiiiii - , - , -- & - WWilliiint:la IiAI iiitit iTeiliitiiiii, -
their • othex incalchlablo advnntages thOhe
~,.._
State. .
The operations on pnrtimilar portions Of the
Improvements during§ the year,/also pro sent
the strongest-arguments imfakor of the spre•
dy completion of the whole.' The P161;4,101,
phis and Columbia rail-road / wllose 6VFACIII ol
mianarrement is not e.xceit . ded, if it is 'film! , ed.
any wheie, - has yielded ,the past yenr, a sum
equal to fullinterest ou its cost, besides pay
ing all-repa irs., The- inottve power depart
ment,: hitherto such a source of diSsat hiker ion,
.has I:pt only been supported by the Motive
power tolls, but has, in addition, cicared . 7 per
cent on the first cost.efull the locomotivesever
put on'the read. • ” . .
. The whole main line from Philadelphia to
f - ,
soc,boo •uo
. .411. j' par;
..c . ratudinarfrepaire.
~teS have' riot.been'usual
..o.,,p6Cifically. That ',course is
..,t'!"'"`.4iy' r reCorninendeti. The`want of
r ? °t v .Sicril appropriations ot tl - Os kiitd 'has add.;
IqtrintiCh to the aiitital expense ofthe public
works. . The Minted aintient Of ilin Cirdinart ,
fund, 'prevented thein,substiiiitiril and' pernm•
,bent repairlifyom being made.wilich true•poli
ey.would have:required; and has, 'Continually,
entwjed,nierh"usniecesSati , oast`oii . t he State,
'.by compellingAiie public agents tii,'unikrOre
temporari repair', particirliirly to &tilts which;
werwalwayslo be made oVei lie next season'
yli_e . 'present' yr ar..5347,205 -, ,ti will be laths;
\\
Prisable for tliid object. The ;) incipit'itAis.
- are illlo,ooo for the ,aveidaiice,Ol'tlie 'ineliri
ed plane at Colurnhja . ; $(16,009 toPtit'ilie - feed.:'
ef'ddmi in the-Suilueliatina,'„endeiiier,i,irers,/
in such order aOto, afford t 'ti, cc::reaiii . 'si r ipPly, - of
Water to'the'canals When cthe'riverS are ' low
1459;060 to reiteM li' part orttiO,pirAtern PiVis:
luin iif' the 'Ntirtli'l l rak7ol'-the' Cp iitnina 'arid'
Phi:adelplthi'.Thiilrdad,'Mliich,poin tiriginally
ehjeiWor ‘tifign4 iii . no*(.l4ayq, and to'iplilie - :
,iith Cr neeeilitirr,:ii(riliiinionii3, - ri..'tin fpit'itirie,,,
tifelniblid Nvoritt ; '2,26','2415113!. i3,,i'pes 'on't*ttit
irono4''nnil fok . "WqrYiiliotiii . ,:ar!d.:;Airrtko'poilitge';
47;06010 , fei.6,6o6 . afii, Nyther Westertilkitt,ip•
ion of main line of canal; v4po to con.
•
IN
-tract
. additions locks on; and to eepen
an l below , D nebn's Island; so topdmit a.
fit supply Of titer at all •setisons. liTraler this:
h ad may also With propriety - be inclndedi•tlie
nnual 'appropriation for damage's (830,900).
add Tor new work - on finished linel4,'pay - of Ca
tit-Coltimisfibners, Appraisers, Engineers,
&c.;.($30,000) Making the: above total. •
No legOlat iirriow necessary for the nowt', •
Midge ar‘Dunaan's Island, sulEciont_picivision,,,,,,, •• ,„ .
flayingen made (or that puree by the joint
cesoltlti 4
required to cornplete itiisinpluded , uniler-ittthe 'A
head "Turnpikes, R 4a.lari,dpcte,"
thregoing estimate
of the Currttritdemandkcin, •
_-
the Treasury. The bridge-will' be completed
to :accommodate next Spring's :
cost- $90,960. ; promibeS to be a-.
nil durahle_structure. and his been
in a Manner creditable to all cork'.
kt,
-is-another apprepriaqomelainiinAgiithe-
attention of .the Legislature,. The . L
f the A pproprititiitu Bill of Itist - year, --- `‘
necessary fin trkmx..esort to the-an
iven bye' :161h, - 7 -
P 36; Vi.beirrow. 2, of the .
2 •
-Erie extension of .North : ''
,Brunch. The - lot by'the
Bank oft he Unin Merest
by •i r cent. c
-Thrittiono-y-wit*..t., Jeliketin
tti e, worke.naiKeil in theliesolelien. It ena,_,l
filed the'cono copt inita: their opera
tions daft the summer, but the pOrtion gitb- .
eirio_tre,Nortli'llranchis now cxh4isted, and
that to the e e nsion will: elsb seem be •
xpeniled. it - there° it becomes necessary for • .
thelegislitture to .matte temporary' provlsto
fur tlrtr ..olts of thi.so Nui kti, - and - of - Th - o
:tysburg extension-of the - Pennsylvania Rail.,
read which- received no pert' of the $2110;000,
and is now much in, want of funds. ' -
it me .St rongly_ to,.nrge the Jiropriety;f
pMtcyvaird-justice to ic
-contrtors-and - dabofers,
iit passing a bill with_as•little delay-as may lie;
making a teniporary provisionibr these works.
For Ordinary repairs $280,000 will be requir
ed; for extraordinary repairs $347,295; and
for present....aliLtsi-naw...svorks_43o.o.ooo the • -
last named sum to be distributed in such a "
manner as. the:board of- Conintissibners Mar..
think just, among:Ow - works above nisirtioned,,
Abet' deducting these' indispensable appre-.
_priations, Which I would again most earnestly
;urge upon Om immediate and favorable -atten-
Eun of;_tlre_Legislnture biers reintunsit_hal,' _
ce 0f . 51;092,415 Ai chiefly applicable to
the otter great object, - viz: 'tlie-completion - of
tli t• nfiiiiiilied.Works. These are the Erie ex- • .7
telision of ;the; main line ;:'.the ,
Bratelt_ .
c tialAtlie_Getty.sburg• extension of the Penn- -
syliffitai Railroad; and the complefieri
West 4lRinch canal.. They_ rill possitssthe.:'
strongest claims, and should. engross the
IL: resources until !drought to Completion. -This
-tatrot - oriy - dictated - hy - logttee - WiliT - Ct
rc , iidont in the several qt - lartors of the Stew •
through wliicli.they. pass, but by the soundest
policy and economy.. ,• _
The completalo of the-Erie extension to, the .
noble harbour of Eric Will
Tlic-undisputed-cominund-of the-Lake-trade,
aid ;Will mitten' her long plighted, aiid al?
umst broken faith, to that quirtsT of the State:
- 1 - atitriljny - a, of Lim nrpOrrrry
propritition-betitre--ment4-ened,--as-shall be ap
pliod to-this work, the resources of the state,
n ill not nevi : of greater appropriation to
this line The appropriation
of this 611111 I%V oli!d accordintilv . recummend -
... and
. . , .
...tern Pennsylvania,
• _When the rosattreei .
- or 't lie - Sitai will bear t; The re port..ol-11. e
Ayertgg . on, thtit: s Drat ' has .rernovtd every "--
doubt : from my 1 in , t the, Keetie l ability of
the project, but ina which is the res o urces, ' a
),
the S t ate will not now nutliorize'lhe.:zcony , ,.
meneenlent of tlite - worlr,..it• would be protlls- .
live or moor benefit - ft:Chase all the ratites'
suppesoll to' be practicable; but not exttriti n etV
by the Eriginber jiiitnanied, l o . l, l Y'en)!6rOtri so
that when the)viyrk is rally_eerronon'ced,' as .- - -
it Utast • certamlk will bti',itt 'no dietant day,'' ~ •
_the Very b..Ft.route,ruay be adopted., , -
':A flyr ',ill illettti 'ti'pfiropriations; enough will' • -
still .- 136_,_ leitte enable' the 46, , ,, , 15hittiii3 . t0 'ex
, - .
•tend 'smite aid' to turnpikeS, and othei roads:
Whilil,Ava: are hiying_out milliopi to Fend:the'.
,Can:allluii elnd' - Loiletn6live into:every 'gnat- • '
ter' n V [lie" Si a te; - 'We sOould not 'fUrget • tithr -,
Points, lya,niti 'fi:ir it,long tittieiniied'her Piet); ..
perity iiiiiiply:'l.6 the 'fiVe borsil team,", And;.: •
dm t - thoti,ah her vva,;rittors as a-di5t.1.41. - rio,a'r!
rlipidly,;disappoari fig ' 'it i tic- mlt 0: iniitinf the . . •-,
State, yet that th'ey,are still ilikinalti refrain°
,:of Several con ntiee,•eitlierl'itill'Oesiesilf,le`to; bk.' ...
_'yet n`tireiclied - by Ca tia Is S' lid iniriands:,l7,libili: : '
,Hie , :n liai'.`"nnilnt ins; subh tie' thlit'or Gieeda,',, • in .
~- Y yliieli,',iitere.i.eat g, 'tied iv otild 'lb ' a'ci,,On4ilialied ;
, lki ',the "ei'penditutie,tif I.l.ooo'delleis'ik. M' '
Adittriliing i letitlinWr 4,ll,iitti,:h#, , ,the . elt .‘"
'4I lin re efffi've tinietistfik emit in:other Tigre - ',
The appropiat ic . ...:. of 75,006 dtilltlis te'th'e t* . - -, ', •
MI
I=
MEE
E