The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1820-06-06

Ireceiyed from the Treasury of Massachuse,ls
as provided by the act relating to the Sena.
iratfon, was seven thousand seven hundred
aid forty two dollars, leaving balance d
thirteen thousand three hundred and eighty
nine dollars. To discharge this balance and
other accruing expenses. the sum of fourteen
thousand dollars was borrowed from The
Banks of the State for the repayment ri
which ii will be necessary for the Legislature
to make provision.
The receipts into the Treasury agreeab|v
10 our present system of revenue will be from
the State tax twenty eight thousand seven
hundred andeighty six dollars ; from the Bauk
tax seventeen thousand and seven hundred
dollars from Licenses probably six thousand
dollars--to which add for the present wear
eight thousand dollars to be received from Il.
Treasury of Massachusetts, amounting in ,be
whole to sixty thousand four hundred and
eighty six dollars. What is 10 be the amouol
"f the expenditure Of the State is by the peo.
pie confded to you. lis very desirable tb,
the receipts into the Treasury should exceed
by considerable amount the estimated q.
pendilure, in order that you may be enabled
to endow our literary institutions, encouraee
agriculture and lay the foundation for s,ch
public roads, canals and other Improvements
as the general interest Of the State may n
qoire.
The existing embauassments in our crcp,
lating medium cannot il is believed AFFECT a.
revenues. The alarm in rela ton TO The en-,
try banks, which originated 10 the capihl r
Massachusetts,, and unfortunately exlende1
itself into this State is fast subsidine II
however wiihou, having first reduced lhree 4
our fifteen banks TO the necessity Of suspend
ing specie payments. This course il IS m.
sumed was intended BY these banks only =
temporary measure adopted 10 prevent -
proper sacrifices on their part, as well u =
secure the holders Of their paper against ~
eventual loss. The present situation Of Of
monied concerns cannot be of long duratioa
in section OF country possessing so maay
advantages. A return to prudent economic
pursuits and habits Of lie for several yesnp1d
on the part Of our farmers has placed them =
the most eligible situation. Il is only g
cessary that the trading and mechanic porticn
Of the community should initiate the exampk
to derive equal benefits. The effect Of III
a course upon the prosperity, the morals, ~
the happiness Of the people would soon u
come visible confidence would be resloed,
and specie would resume its place = I'll
vaults Of the banks.
Admitted into the Union a. constituu
member ofthe American family, need =
remind you that the selection Of two Of q
most distinguished citizens to represent ~
State in the Senate Of the United States n
become necessary. In making this impo.
tant selection feel confident that the Lsgh.
ature will look with single eye to the chsg
acter, the honor, and the best interests o( u
State.
The Constitution under which you are =
sembled points out generally those dulld
which il is necessary should be performed
the first Legislature. Having in conforming
with the provisions Of that instrument suggs1|
ted for your consideration such subjects as
consider deserving your attention, Irequef
you Gentlemen, 10 be assured that noihiqg
would afford me SO much pleasure as concu.
ring with you in all measures calculated h
promote the general prosperity, SO that Of
fellow citizens may view The present wik
salts faction, and look forward with con6deno
to the future and that under the blessing Of
a wise and gracious Providence the Union d
the States and the freedom and happiness d
the people may be perpetual.
WILLIAM KING.
Coone,I Cbc,nber Tam. Oh 1Q0O