Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-01-10
GOVERNORS MESSAGE.
llou- Citizens Of the Senate

what less in arnont than usual a,e greater than !,
was at one time apprehended they would be, and am
pie enough. not only for the supply Of our wants.
but TO leave surplus, equal in value probably IN
the proceeds OF former years. The sentiment of 70,
spect for the laws. and submission to the copsittn
ted authorities The order, regularity, peaceable and
dignifed department which have been alwsy, III.
characteristics Of our fellow citizens, have been =,
usual, conspicuous through the year which bs.
Just closed IL the reports which have reached NJ
from other places fearful and lamentable diso,ds,
and confusion. have been the occasion oil painful -
greet, we fortunately, have had nothing Of the kind
among complain Of and lament As it is e,.n
tial to the preservation OF our institutions, and =,
the natioua character hch our country has b;,b
enjoyed, that respect for the laws and subm;.
sion its authority, should be spontaneous and nm;
versal, and as thereupon depends the contnuan..
Of the invaluable, civil and political privileges which
we have hitherto possessed, it should be the deter
nnation Of every citizen, in and out of office IN ma.
nit no cause OF complaint, however Just it NAV a.,
pear, to excite feeling of characterization, am Va
exert his influence, on all occasions, upon tina },
OF order and decorum. This is the first obligation Of
GOOD citizen; and upon its faithful observance and
upon moral and re gous duties rests the tile 10
the numerous and inesmabe blessings which n bs
ngnant Providence hath yeuchsaicd to us.
The Banks have returned 10 specie payments and
The performance of their obligations in that rs,pec,
has been accompanied with the revival Of actiy,,,
and confidence in the various lines of business II !.
due to them to remark, that they anticipated the no
Rod at which it was generally supposed the resumu
ton wonld take place, without resorng to a cour..
of rigorous collections, which might have occasionrd
general embarrassment. Our currency is now NJ,
longer deprecated and huctuating, but is of m.
standard value: and exchange upon almost avery
point Of the Union has approXma,ed to she cost Of
trausp porting specie. The early restoration Of speei,
payments, effected II has been, without material
lncony enence to any branch Of business or class Of
individuals, is gratifying indication Of the rich re-
sources of our young and vigorous country.
The effect of the innovation upon the financial
OF the Government proposed in The late session
| OF Congress, would most probably have been to post
pone the period Of recovery from our lately deranp
ed currency. By creating fictitious demand for
specie, il would have contributed still more dems
cia,e and discIed The circulation Of the bank,
while they in order 10 provide ior the increased La
bilities 10 which the meas, would have exposed
them, must have proceeded TO diminish their dis.
counts rapidly than would have been consis,en,
with tie general interest.
/ leIerfed IN my last annual communication to the
scheme for collecting and keeping the public mo-
nev, commonly known rs the ub-Treasury, and the
opinion winch then held has been confirmed by sub
sequent reflection and recent development regret,
therefore, observe that again To be pressed on
! the consideration Of Congress.
! 1t is admitted to be an innovation the hther,,
uniform financial usages Of the government 1t does
appear 10 have been suggested by the recent DIS
covery oil abuses or mls5hiei in the system to which
the country has been 50 long accustomed, and
der which IL has attained 10 so large measure OF
prosperity. 1t is not recommended by consdera
lions Of economy, the security of the public money.
or The lessening Of executive patronage. Nay it !.
obnoxious 10 the Objection that the expenses Of tho
government would he thereby increased,-tbe pub
lie money rendered less and the patronage OF
the Executive greatly augmented.
When The public money is placed in Banks to tho
credit OF the government og its agents II IS attended,
by no charge: and there is other risk than tn.
insolvency Of the corporations which, with ordina-
~ crcnn,specon, in selecting the repositories, II
risk at all, il one which most prudent cize
do not hesitate to incur in the management Of their
! own affairs. On the other hand, public money in
the custody OF government agents must be always
insecure, and no severity Of penal enactmenis aganS
delaulters will be likely materially to diminish tho
hazard. IT, indeed, in the selection of pubic agents,
the appointing power was secure against mis- ep esep
tation and interested applications there would be no
difficulty in finding in any part Of our country com
petent and faithful officers: but that is not to be ex
pected and there will always be danger that respon
sble trusts may be Committed 10 individuals who
have been led to expect them in return for party ser
vices.
! Whilst the ancient and familiar mode Of keeping
the public money is recommended by consideral;o ns
OF economy aud security, it is not less for the i'm
por,an' reason that it avoids the necessity Of en-
| larcing the patronage of the Executive. Let the
law perform its proper functions in designating the
Banks 10 be employed, in settling the conditions Of
the agency and in determining for what Irregular
ties or abuses the privilege shall be forfeited and
there will be no occasion for executive appointments
or the exercise OF executive authority But II thsir
| agency shall be dispensed with. troop Of new Of
hcels. with salaries and influence, aud the ugmenla
ton of the already overgrown influence OF the
tive are nnavoldable.-I respectfully submit, that
these views furnish strong, not decisive objections
to the proposed inoyations.
The general Bank Law. which authorized renew
al of The charter of our banks, and an addition 10
their capitals. was suspended by of the last
General Assembly. The early day at which the
charters OF the two principal institutions will expire.
1912, suggests the expedlencv Of co nsdering wheb
er any, and what additional legislation is called for
by this interesting branch of our public policy. My
opinion on this subject have had before occasion
respectfully to submlt-,hey remain nnchan.nt
Banks of discount and circulation consider 10 az,
ly nsefu if net indispensable agents in the acnal
condition OF our country. of advantage to every de-
scription of interest, and in discordant
variance with the spirit and principles of our ns,u-
tons. They furnish facilities essential the chase
Of our agricultural siaples-conlrlbute 10 keep up
their price-prevent the monopoly which might
grow Of large individual wealth. and enable en-
tcrprise aud prudence the readily to overcome
the obstacle resulting from the Of Large means
| The additions proper TO be made TO the existing
bank capitals, the precautions necessary to prevent
abuses. and the subject generally remain with you
to be disposed of shall seem best for the general
good.
The importance Of an efficient system OF ednca-
ton, embracing in its comprehensive and benevolent
design the whole population cannot be too frequent
'y recurredto. The obligation TO provide such
system, IS among the first duties of that Legislature.