Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-12-07
GOVERNORS MESSAGE
Exye,rnE DrrAaTMtSr' (
December 9TH, lSal.
ans of the Senate,

r.,i.tns at the ct"".'s
,.,;on Of our late Governor, no"aS
S. t' tho chief Executive power al Wv Go.
! y u"n, ~ has Jevolved upon me rs in"Han.rsme,t
-,aasai'a En.cca. therefore, under The requi'e".I
INV 'r.,,,ntion, 10 invite your al'eh'''" o,;on.
<tE AZ in my opinion, deserve your - Offer The
estcp' ~ Of qualification, to be aoie r,,,,,,.
T,nse". =, succ,ss which has attenaen ~ g.. ,hs
ms y. of all classes OF our @ nsa,.to, ne
,a3 en'etp' : : ,nr hsrv.ss-lhe beneficial epeia.'" ~
1loa"I' .oual laws-the enjoyment % sa ,ho W."
81 w. ",,,ans, and tranquility a. nroner
ZEN :, onr Republican institu,'o"s. ~ 49, =
grafton u : ,b,s. blessings should stimulate US.
gfe'a."" n, 10 any b%urthens when the puono
..'it ea,r-to weld a prompt ooeo'ence " 0e
4 81 may ''q'"., :. those virtues, without when, no
So San long preserve It's existence 49,
af'o' .on,,,uaoce of these dement's, we snou'u 'e" ~,
ntrIa Ell acknowledgement TO HIM, 10 whose S,ha
,snce we are 70 eSps
f"'s.,,,n of hiss bounty.
tsi P''' ~ lac, session of the Legislature. our na.oh
Snee w ,vsd. by the dispensa,ion OF ProviuenGe,
rs. BE" p,ss,den,, William Henry Harrison. Inc
q toF" s.,,b Of this eminen, citizen. after ha.ins o
fitdfn ~ ",lsva,rd to the highest office within Tue gn'
- recent! .m ~. s~,rikinqly displays the uncertainty
oh' ..nh,ions, and admonishes us "i tue 'ah.y
o;bana" aaors II furnishes the flrst instance ~
! q nun. NJ, the transfer TO the sice ieS"
gu; h'"" functions Of the Federal ESeI"t'.:
te '"f ,oI ready acgu'escrnce 0, Tue ~ - am,
Tf infsr n.. happily illustrates the WISDOM . w.
:. ~ ,,,,,,n. and the disposition Of our peope
~. /, the government OF law ~
oaro'". 9Th. Dad of March last, ~"ntempia,'"s "
I"e y = III. Treasury of the Commonweaitn' ""'
c'act"; r,scu,iye 10 cause such sums 10 oe y"
"a :. N. public ex'gencies m'ght reqr"e. -
49," n Us provisions, the Treasurer '.'ni ,nm
'l"N ,n,er The orders of the Executive, mas n n".su
td'' w.. -. p,,L of Fircinia, the Farmers BANK oi
: ~. a,d The Exchange Bank OF virginia, Tue -"
'fa" ma which, with the sums previously i'ansu ~
of-t'N -, those Banks, amounts othe sum OF S'7o,-
" 80 a charge upon the Treasury payaoe oh !"
~ mo present month. The responsibility IN
l5h Gay ,h - Common wealth to repay these loans, TO-
;a;''" /! ~ The amount of her funds temporarily una
s''ay, no Inc refusal of the Deposl,e Banks to receive
'i'as...,. or The Wheeling Banks on general depos'le
US .rn,n, of,ayrs, as Is hereinafter explained presents
"': f,y,,able exhibit of the state oi the ireasury 'han
- .,h.,,yise have been expected. On comparing,
. ga y" -. ,ssources ofthe Commonwealth with her
"Ne a her finances will be found III a sound con-
s1-'s ,,,.c,,lly. when we consider the resources OF the
1'.a a, and and oflhe fund for Internal Improvement;
f.r meeting existing pledges, might be regard
,s 4 riding, If necessary, an additional guarantee LOT
:, .,dsmp,ion of the faith Of the State IN any un'ore.
.a.a emergency. But, 50 long as our country slia'i
s,.s.d w,I, a continuance os peace, there can De
-,c...i,y. with prudent management, for dtverting
,aso,rc.s from the valuable objects to WHICH they
~ ia ,.,,E,re been applied. There can De no deaot,
49,. !. H. p.opl- will chrerfully submit To such increase
u ,,a,,nn, az The exigenc,es OF the oomhohweai'"
-, ,.o1i,s. Impressed with this belief, | most res,
...,;,llr surres, for your consideration, whether sounc
'.,m, n the administration of our finances would
:, 1, promoted. by Imposing such taxes as the oro'ha-
.,.,,-snt expenses of the State require, insteau OF An
,,a,n, the public revenue by a resort 10 ioahs im
.n Il borrowing, If continued, will Insensioiy nnl
c..,dr lead /, such an augmentation OF the puoic
49,. :, NAV b, seriously felt at no distant day. II may
- asy,.asie 10 discontinue i, at once, but, It's gradu-
.hana ,or.p, NAV be easily effected by such an iinpo-
Ian ~ ,.tes as will annually redeem the amount 10
!. h,rr,y,t. and ultimately render the revenue amply
.,=.,,n, for current demands. The reports OF the
r.,s,rer and Firs, Auditor will EXHIBIT 4 'nll state
r.o, II the condition and prospects Of the Treasury, to
ugca your early and particular attention IS respect
i.ny nv led.
n submitting a view Of our financial concerns, it is
,.,,et ,ha, should call your attention to the present
.c,,.,on OF our Btnks, with whose operations the Ms
- ar. Of The State are necessarily and intimately
connected. 81 an act OF the Legislature, our Banks
,.,, exempted from the penalties Imposed upon them,
Is. falling 10 redeem their notes IN specie Notwitn-
|.,,oG,n, the relief thus afforded them, the Bank OF
|y,r,ol5. the Farmers Bank Of Virginia, and the Ex-
|.a,n,e Bank, declared their readiness TO cooperate
Iwtl the Banks of Baltimore IN resuming specie pay
meats. i resumption was accordingly etiecleo almost
/. a4i,sneously by these Banks and the Banks vi tint
%.:siahi1. In q short time, however, the Banks OF
.Epi,!-lphia again suspended, and their example was
,4rtly followed by those Of Baltimore. The Banks
ltgrfna above specified nevertheless continued to
..,em their notes in specie, IN the sanguine nope tnat
IN, woald be able to sustain themselves IN the effort
Tie SUSPENSION of other institutions, under such CIR
operated entirely to our disadvantage; en-.
i.,5ar them 10 replenish their vaults at the expense oil
su. banks. while the latter received no equivalent
'P.,csiyinu that a continued drain Of specie must be the
of persisting in the course they mao
and aware that the rapid curtal!ment OF the
I.- - ,.o,lJ la IN apo.
them 10 perseve7e, would be severely felt by all
,.se. Of The community, the Directory OF our banks
i..cadrd their resolution. Their determination TO
SUM specie payments at SO early a Perloo, was
coub, premature. II would have been more safe
!. hem, and better for the community, If they had
e:rrgd The execution Of a design so cred,,abie To
A=r public spirit, until tina. design could have
zen effected without regard to the course oil others.
/. 10 be hoped, that It may yet be accomplished al no
..hn, day, rs small, gradual and regular crrtaliment
i DISCOUNTS be rigidiy enforced against all the custom
e. of The Banks. A resumption of specie payments
,, IL our institutions, which shall BE- permanent and
'@ciuaI, il no doubt most ardently desired by the great
a';y Of The people. But, surrounded as we are oy
oArf Institutions beyond our control, and placed IN a
l%rat;ion We cannot entirely prevent, 1t becomes a qnes-
tn II grave consideration whether the requirements
:; III. charters of our own institutions shall be rig'dly
-7frced. or further time be allowed them to epare Tor
lfssana,,on. As the period VIII speedily arrive when
n r-tef heretofore extended 10 them VIII expire, TINS
oi~sann wtll no doubt attract at once the calhl consi-
eaton. nf the General Assembly. In arriving at a
cree, decision, due regard should be had to the past,
:, sri as 10 the actual state Of tl,ings,-ihe condition
i ,be B inks, and the business of the country. The
sho- nation is yet suffering from the baneinl effects OF
ov-rtrad,uy,-nv-rb inkiug,-and their inseperable con.
ernisn,, a disorderrd currency. Wild speculation and
sI'rayasancp, the natural consequences OF the Immense
accommodation afforded By Banks whose cupid'ly
seas 1, have placed no limit to their ISSUES, have been
attended IS usual with a painful reaction. Many OF the
Sac Governments, too, have contributed IN no small
et~re % the embarrassment of The iiInes by aPpropria-
ion. 10 works of internal Improvement, which could
'als or met by contracting an immense foreign debt
sbca has materially affected the state OF our foreign
N~caanges. 1t wiIl require time to allay The agitation
slch mas been produced by these causes. The lessons
i'zprence they have taught, II is to be hoped, wlii
= remembered. In the mean time, the recuPeratlve
e.ae!sy fur people will tend 10 restore a more health
n CONDITION. Our Banks must feel the ei-
les of>uch a change, and if pruden,ly managed, may
'"n place themselves in an imprrgnable position. II
.laH!d b remembered, that the withdrawal from th's
S''e ofthe capital supplied by the Bank OF the United
s;l'es, has imposed upon our State Banks the necessity
"a mo7e ienient course towards their debtors than
t5h, otherwise have been required. The accommo-
siNon afforded the Commonwealth in loans 10 meet the