Southern telegraph., 1837-05-02
-. - "a. -
GOvERNOR8 MESSAGE.


DELlvEsEB 10 rIr LEsrLtTURE, ArRiE
l0rH 1881
GcRllcac of tie Seaate
aad ifoHsr ef ReprvesiatiroR,
Tho unexamplsl saHmfy embarassa
monls of cur Siato, auattle earnest silici-
iele expressed so me by. many of oar lol-
iow-eitizeus, by petition aud mslnarial, itn-
posing upon me the duls.sas concerned, of
coageRinsgofata ilne anterior to that pt
which you wee q haze met upon yols
ogn adioammcni, bayifg been briefly a.
licod m lIls cknaI4a Collins yea slOs
gelher Udf pr sii0-Sa tamDtc tlfge
the views bY whieh ! was iu8sen and
ihephiecis sought io be aceomallsbej, by
the Intervention of yass6ihafius a 1i sc.
lion, ia this unproceaeniod ctisis of on
affairs. 49,
] regretted extremely the eXisseaee of
any circumstaRfethit appeared to ell for,
or to inpese ipoa me the NECESSITY ct lhis
measure, Geaging.ihatitmight efeatc amin
proper alarm ard disinlsG calculated rs
affect injuriously the character, good
fih, and credit of this community. Under
ordinary circumstances, this oljcction
would have been conclusive; but tue peg6s.
liar state Of our fnanees, cut oil as we are
from the usual moueyed facihies, ihd die
impending distress, coupled with a hish
sense of duty, placed the question of cxpe,
diency upon olhcr and higher considela-
tons, AIler due rclsctoa upon tho sub
lec', and Tie bearings Of the measure, was
ininccI 70 adopt the course purael-
more with a view Of olf,fdinga opparlOnity
for the action Of your body, BY which re-
lefmay possibly he exteuded,han for the
purpose Of Recommending or pressing any
particular project Of my own; and, huweger
difficult anl discoumging the task beora
you, was not disposed, by with lding iho
call, to prec!ade. trial, shall rejoice L,
through your interpositon, something may
he effected that will alYlrd reiet, and
at the same time carefully avoiding any act
that can properly be construed as impairing
the obligation Of cont@cts-to quiet and
put to rest any erroneous apprehensions
that may have gone abroad, calculated to
wcakenihe confidence 50 Justly due to the
high character of the State and lis institu-
tions, and which | am sure you will take
great pride in sustaining.
There is nothing, however oppressive,
inihe present state Of things, that should in
duco us TO give place to gloomy forebud-
ings; on the contrary, h1vo no hesitation
in expressing my entire confidence IN tho
great rcsturcos, the enterprise, and rec6-
peratiye energies of the community being
amply sufficient, in a shrtstilnc, to redeem
and release us from the eNiltiug embarrass-
moni; and that, ere long, confidence and
credit will not only he e-eslabshcha
placed upGn a better and more stable basis
than it has been for velrs.
The immediate otjdctis to afford such
facilities as may enaBle debtors to sltish
the executions against lhcgsby anticipating
the coming crops, 50 as 10 prevent the sac
rfce ofproperty;Rnd it is for you gentle
men, to devise and adopt AIie proper mode
of eilecting This purpose.
| have thought of some armn gomcn' !
with the banks, as presenting the hes, il
not the only practicable mode ofrclicl. J.u-i
der this impression, | adlresseda a circllAriog
The presidents Of the several banks offhS
State, ; copy of which accoaip mics this
commnnlca my earnestly inviting them to
attend at the seat Of goyernnlent, for the
purpose Of &cceleratng any arrangement
that may be agreed upon,
The issue of post notes, payable at thif
teen months, or at shorters period, drawing
interest, has been suggf st3d, under iIo
that they would be received by
creditors at their par value; and that the
operations Of the banks would not be Grip
pied, or their credit impaired by such issues
until their maturity, and failure to redeem
them-that the bank could, land should be
amply secured by the borrower. And in
order to give greater credit and validity to
snch notes, Suggest the proprety Of their
being made receivable in payment Of all
claims and demands due the State
IHO'hCl hiy NIllClHG vi LllS Cilll dGtCl
can safely be practsed upon, or whether
there arc lnSuporable obstacles in the way,
is for yoa and the officers of the bank
to decide. Among others, the objection has
been raised, that such notes would immed-
ately sink below their real yaluo-that
depreciation would subject the banks o
charge of having been Instrumental IL ag-
gravatlng, rather than diminishing thc niis-
chief under which the community abors
from deranged currency. | do not
clearly perceive the force and applicability
ofthe obieclon.-Such notes beng of
specific character, bearing interest on the
ace of them, and rcdeenmble by solvent
at no distant pefiQd, it seems, to
ne would secure to them aeeredit and al
that the most .timid would not
fear; and which, even if they should sink
below their intrinsic value, could not in the
cast impair the present circulating medium
# the Stofa Vha brasnnt eS,,oc of H.,