Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-11-12
GOVERNORS MESSAGE.

GOVERNORS MESSAGE.
Yesterday, the following Message from
the Governor was laid before both Ilous-
es oftbe General Assembly Message
is an excellent onc-terse in It's manner,
but comprehensive i'll his matter-Wc re-
gret his determination 10 retire from the
office of Chief Magistrate
COUNCIL CHAMBER,
Nov. iltii, 1916.
Ecllou-C iti-ens Of tie Senate,
a,,d Horse Of DELEGATES.
TIE call of the Legislature TO an car
lier day than that fixed by law, was de-
signed to give the Assembly an opportu-
niiy, if they should deem it necessary, to
suspend the law compelling the Banks to
payspecie after the 18th of November
If there had not been change of circum-
stances, after the passage of the law, no
idea would have existed of the propriety
of such step. At the time this law
passed, it might have been, and, it is be-
lieved, was expected, that the Congress
of the United States would have taken e.
i'll producing the same result. 1t might
have been fairly expected, too, that the
States in our neighbourhood, would have
duce simultaneous payments of specie.
Instead of doing so, Congress indirectly
sanctioned the withholding specie pay
mcnts until the Goth of February next :;
the other State Governments have been
silent upon the subject, and the Banks of
the other States have declared their de
termination to make such payments on
the first of July. The risk and hardship
upon our Banks is made the greater BY
the establishment of a new Bank under
the authority of the United States, the
two last payments to which will fall due
at periods that will induce the subscribers
to that Bank TO make their payments by
drawing the specie from our Banks. 1t
is to be expected, that the different State
Banks, in their preparation for the pay
ment ofspecie, will use every means in
their power TO remove the coin from the
vaults of our Banks TO their own. lit is
believed, if these circumstances could
have been foreseen, that the law would
not have fixedso early day, and that the
effect of it will be 10 cripple the Banks of
Virginia In such a way, as to prev ent their
affording the smallest accommodation to
commerce for d great length of time
which, i'll Its present embarrassed state,
would produce great mischief-and, ulti-
mate!y, fall upohthe agricultural part of
the community. beg leave to refer to a
Joint letter from the Presidents of the
Farmers and Virginia Banks upon this
subject, (No. ~ The great interest of
the State in these Banks, is considera-
ton of much weight-but it is apprehen-
died that the loss of the facilities afforded
TO commerce by the Banks, would be
much greater; our commerce having been
thrown so much upon that resource, and
for such a length of time. The connec-
ton between commerce and agriculture
is so intimate, that II is impossible one
should flourish while tie other anguish
es. The merchant is neither more nor
less than the factor of the farmer. If he
possess the command of money, he can
purchase and pay for produce: if he do
not, he is drivento purchase upon credit !;
in which case, it is generally shipped at
therisk of the farmer or planter inasmuch
as his being paid depends upon the sue
cess of the enterprise. A new state of
things exists here, and all over the world,
that battles the theories of political econ
omists. is not now so much an enqui-
nv, how we came into our present diff
culties, as how we can get out of them.
1t is not whether the Banks have, of their
own accord, extended their business too
much, or whether they have been induced
by the solicitations, or the high premiums
offered by the government. Ii appears
TO me that by mutual concession on the
part of those who differ in opinion as to
the time when specie payments should be
resumed, period might he fixed on, at
which it would be convenient for all the
Banks TO commence at once. If that be
done, it would be perfectly safe, let the
time be when it may and have no he
station in saying, it should be fixed by
Congress. If Congress adhere 10 the
10th of February, | hope the State aut!io-
rites will cooperate, and enforce the
payment OH that day throughout Ameri-
ca. do not see that any purpose, State
or National, would be answered by Vir-
gina preceding the General Government,
and the other States, three or four months !;
on the contrary, | anticipate very cal
amltous state Of things from if to Nir-
ginia. IL YOU coucurin these sentiments,
there can be 10 doubt of the propriety Of
the Legislature being convened at this
time. Ii YOU do not, you will proceed with
the ordinary business ofthe State; and, |
flatter myself, the time of meetngwi not
be attended with personal inconvenience
to any of the members of either House.
| am confirmed in the opinion express
ed by me to the last Assembly, that our
Mlitia-system is radically defective.---
| The service underit is more burthensome
| to the people, less efficient, and more ex-
pensivc than it ought to be. 1t is out of
the powerofth the State authorities to make
the necessary changes, without interfering
with the power Of the General Govern
4 hs,.r ii