Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1829-01-22

II viii doubtless be attcn,veiy considered. how
Tar the public burtliens arising from the const uc-
ton Of works of this character, NAV be relieved.
and the efforts Of the STATE juhiciously aided, by
the encouragement of individual associations for
the same purpose. The leading case in which
this policy has of late years been adopted, j. thu
OF the "Hudson and Delaware Canal Company"
1t gives me sincere pleasure to be able to inform,
you, that it has in this INSTANCE been crowned
with the most cheering success. From the OIL
ciai statements oil the company. confirmed by the
personal Inspection of two of the officers Of the
government, tho Secretary OF State and Conptrol-
Ter. il appears that a canal. we'll adapted TO the
purposes for which it is designed, connecting the
waters OF the Hudson aud Delaware rivers, ex-
tending eighty-one miles in the state Of N. York,
and :carly twenty five miles in the state of Penn
sylvanis, commenced by that company i'm 1875,
was fully completed in the month Of October last;
and tina a railroad Of sixteen miles, designed TO
connect the conal with the valuable coal mines at
Carbondale in the state of Pennsylvania, is in
progress. and will probably be completed in the
month Of June next.
ltis unnecessary tha, I should enlarge upon he
advantages which are confidently anticipated from
inc construction Of this work, not only to the sec
ton ofthc country through which it passes, but to
other portions vi the state, by the facilities ii will
afford to procure a cheap aud valuable fuel: as the
Who'll subject will be fully laid before you by the
company IN support OF an application which it is
their intention TO make at the present Session. The
cost OF the canal is said to have been 81 .o75 900;
OF that sum, five hundred thousand dollars have
been obtained upon the credit Of The state, which
holds for its security, the first lien upon the canal.
There : no reason to apprehend the slightest
loss or inconvenience from the measure already
adopted TO assist this company. How lar you can,
consistent with other claims upon youI favour,
sAtend the relief they will ask, will, 1 am conf
dent. receive an Impartial examination and lust de-
cision at your hands.
The liberal from time to time grant
ed TO our scientific and literary institutions, have
added much TO 1.-THE character of the state, and re-
nectrd high honor on the enlightened counseis un-
der whose auspices they were made. Although
sometimes impiovident, and occasionally unsuc-
cesstui, their general results have been highly
suspicious to the great cause they were meant to
subserve, aud afford the strongest encouragement
TO 4 faithful perseverance in the same wise aud
liberal policy.
The more direct agency of the government in
conducting the affairs of the common schools, as
well as the more extensive range of usefulness
mat belongs TO those very valuable elementary
Institutions, require IA fuller statement of the diff
terent matters that appertain to that system, and
concern its administration.
The returns i'll relation to them, exhibit the
most gratifying results. The number of organ
lied schools Is S,l22, in which 467 ,947 scholars
have been instructed during the past year, for IN
average period Of eight months. The number of
children between five and fifteen, in the same
IS 439.421; showing an excess of those
instructed, over the whole number between five
and fifteen, of 26,Si7. The increase since the las,
annual return, OF those attending the schools, i
20 '10l; and OF those between five and fifteen. is
2o,2ll. The whole amount of public money paid
TO the districts during the same period, is S232,-
TIP.
The question as 10 the renewal of the bank
which are about TO expire, will de sery-
eddy receive your carly and most deliberate at
tention. L 10 not, | think, deceive myselfin be-
iieving that ii must become the important bust
ness OF your session, upon a wise and successful
disposition oil which, its credit with the people and
to the state, will materially depend.
Having ior many years ceased TO have an Interest
IN those Institutions, AMI declined any agency in
their management, am deeply Conscious of my
want OF that sort OF iniorma ion, which is 81 i'm
portant IN forming an intelligent and safe opinion
upon the subject. Thus impressed, | should have
myself with simply bringing the sub
TO your notice, did | not feel bound to COM
freely and unreservedly, with those
with whom 1t Is my duty to act, on a matter of
such vast magnitude 10 our constituents
VI The forty banks now IN operation in this state,
the charters Of thirty. one expirt within one, two,
three and four y 'ars, but chiefly within two aud
three years. From the best information that can
be derived from the returns made by the banks
whose charters are about to expire, their collrc-
i've capital actually paid in, amounts to fifteen
of dollars; and the debts due 10 them, 10
more than thirty millions. The debts due from
these institutions 10 the community, including
their Stockholders may be safely estimated at about
the same amount.
AS l tht pfopFiety oil making a hnal disposition
oil the whole subject at tie present session, there
appears, so far as l can learn the public sentiment,
TO be but one opinion. The injurious CONSEQUENT
ces that may justly be apprehended from delay,
seem TO have impressed every mind, and to have
produced a general expectation that the s~olicitude
so properly ieit upon tii' grave matter, will be re-
iieved by your early decision
Should your opinion correspond with this view
oil the matter, a question will arise as 10 the course
which ought to he pursued under existing circum-
The difference hstU .en thst digestion i5 |
lac present CONDITION nj things, aud what 1t coud
be if you were called upon Tor the first time to Law
the foundation of banking system for the state
readily occur 10 you. What might in that
case be exPedicni, may now, from the length of
llfne which the present system has been in opera
ion, and the tendency which all pecuniary con
Germs have, To conform themselves 20 e~xistin" re. |
b found very difficult, if not iinpracti-
cable. To dispense with banks altogether, is IN
idea which seem. % have no advocates; and 10 make
ourselves wholly depend Mt upon those establish
ed by Federal authority, deserves none. II these
are correct vie ws, the only alternative woild seem
to be, between y renewal OF The charters of the
sound part oil tn existing banks, or to anticipate
The winding u OF their concerns by the incorpora-
Of nrw institutions
In supper OF The latter course the idea of , state
bank, with as many branches as public CONVENE
ence would require, has been very properly thrown
out for public consideration III by a state bank
Is intended an institution 10 be- owned by the state
g. conducted by it officers, il would not seem 10
require much know ledg of the subject, to satisf,
US hat the experiment would p obabiy fail here,
as il has elsewhere. The reasons for this appre-
hension are 80 cogenti in th"ir nature, so constant
in their operation and OF SUI h ready occurrence !
% Intelligent minds that | shall not detain you by
stating them
Experience has shewn that banking operations,
10 he succe sful, and cons quen1y beneficial to
the community. must he cOuIuctpd hy priyo,a