Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1842-12-15
GoVERNoR,s lLEssAeE.


ExECrrsvE Dkr1krnrxr.
Dscembtr Ist, 1912. { =
tsilss-eilissas ef ~ Senate end Hos. e
By tbs failure Of Ire .Isst Lerislaiurefo 81
/ tne once OF GoEernor, then vacant, the duties
q that ofiee dasolFed on me, and in pursuance
Of ope Of those dutie4.I new proceed, under
the requirement of she Constitution, local your
ATTENTION % The Consideration of such subjects
a. deem expedient
Whilss there are tnaAy topics which might
dlscdss and present tot your consideration, sel
there are only few subjects which deem Of
sutielent magnitude 10 occupy 4 large space il
communication. of th& character, and ID rela-
ton % these eEen shaa be as brief as possib
lnlrelation 10 all merely local questions, YOU.
oe.ng fresh from The people, know better lhani
possibly can; their wants; and | am confident,
that with knowledge pf the wants or lie peo-
pie, lSneed not urge upon you any specific
course You and are alike tie representatives
and agents pfthe peopl>, selected 6y them 10 az
~ asss 80 y eecomes y e.snsr Y carry
Offices we hold, that tIsy may be filled By such
persons as caa eorsistenliy with their sense Of
right, conform their aslions 70 the views Of the
constituency. II anyasher theory than this be
adopted, all proper rSalraint over the represen-
tative i destroyed, sAd the people instead Of
toti~
ticai aspirants. #
Ina lime of profonad peace, which bps con-
tinued for many years with abundant crops. 4
daily deve lopIaent loEnew sources OF wealth,
and aplethorlc cond ZION Of the none market
Of the world, we find ourselves greatly involved
10 debt, and property Nh almost an SORTS reduced
ii value, ard the ere aa Of tie Stale and people
nearly annihislet. IL
The question natuiAlly presents itself, why Is
this condition Of things, and BY whose agency
has i been produced II Our citizens, being af
divided into political parties, charge each other
with being the cause and am very much in
elinedt 70 believe, thA in this there Is much
justice.
II We look abroad f3r solution of our icon5;
ton, we can find nothing in the history III the
past. from " kich we fau draw the eas, aid -
Look to England, lo which, perhaps, We have
accustomed ourselsesto lock too much already,
and what do We see IA nation, with mineral
and agrieultqral RESOURCES hardly exceeding Yirs
gipia, with public debt ALMOST twenty times
as large as the debts qf the Federal and State
Gdvernments altogether, borrowing money OF
any of the nations Of The world without difficult
~, at from two 10 three per cent interest,"
whilst our Federal G6ycrBment finds great diff
Guilty in borrowing small sums at six per cent,
and the State tioYerHnhents cannot even borrow
on as good terms Is those. ! wili now proceed
70 point out what fconeeiEe 10 be the cause OF
our present embarrassment and difficulties, and
ia doing SO shall be very plain. as am writing
for Inc whole Commonwealth, and notfor party.
Ia looking into the past legislation Of the Fc-
deral and most OF The State Governments,
think see mnch to have Produced the present
condition Of tkiRgs 1870, both the Fede-
raj and State governments were clear OF debt
or very nearly So Our own Virginia owed mo-
thing ofimportance Che receipts into the Tres,
sury were abundant, raore than sufficient NEE
the demands upon ii Thus ihiness continued
un.ii about 1888, whom the Receipts INTO the
treasury were 10 much more than the demfnds
upon il, that the Auditor and Treasurer then ac.
tually advised reduction Of the taxes. About
this time the Legislature entered largely into
the spirit Of internal improvements, which had
been, rs il was thought, fully tested BY some, 81
L our sister States, aud promised most glorious
results. In 1892, the act incorporating the pre-
sent Janas River and kanawha Company was
passed, and several Railroad companies were
either iacorporatedior surveys ordered aboutlhe
same time. The State took stock ID most OF
these companies, and appropriations were made
in aid Of the Chesapeake and Ohio Canal, be-
sides many other minor works. lii the course Of
aifew years, large sums Of money had 10 be
raised by the State, During the ragelof the in
ternal Improvement fever, there were Ia the Le-
gisIsture two internal Improvement parties, one
much larger than the oiher--bolh equally desi-
rous Of improving the State. The larger portion
Of the party was headed by gentlemen Of the
first rfspeciabiliiy ano talent 10 the State--gen-
tlenleH, WHO had devoted much or their time 10
the investigation Of the subject OF internal i'm
proEeuent. They werealways resdE 10 go FOR
any Internal Improvement scheme, and they were
frac ,lv toe
satisfied themselves, and l1borea 10 cohymcs
others; and, unfortunately for the Slate, sue.
ceeded too we'll in doing so-that, for the State
to borrow money for Internal Improvements
was for her 10 incur no risk, as the improve.
nents would yield revenue as they progressed
adequate 10 meet the interest on The loans; and
as soon as completed, would yield income enough
10 pay both pr incipal and interest,". The small.
CIR portion of The party insisted, that the revenue
70 be derived from the works 10 an unfinished
CONDITION was loo uncertain 10 be relied npon Il
meet the interest upon the Leans, and that the
taxes ought TO be increased TO al leastlhe pro.
bsbIe demand upon tie Treasury. These argu
ments, unfortunately, proved Insufficient toeon-
vince, and loan nfterloan was made without an,
means bsingpFoFidedto meettne interest annual
u orto pay The principal, whsn il should fsii doe
\ By The foregoing means, a debt amounting lc
i Auou1 seven tnAiions SIX h0noIed nhJ bfty knpu
sand dollars was created. of which Individual.
in the Stale hold about Two millions six hun.
dred thousand dollars, the Banks Of the State
hoids about seven hundred and seventy thou
asad dollars three hundred and fay lhou.si,s
dollars Of which y The Temporary loan, aos
The State and State institutions about one mllioi
four hundred thousand dollars; in all, aoonllfoui
~ ioa seven hundred and seventy thousand dol
lars Is oYned by the State and her citizsAse--
By citizens of other States in tile United State
and the District Of Columbia, about six hun1res
and ten th0nsand dsllsrsis held and shout twt
millions three adned thousand dollars, tie ba
lance Of otir debt, IS owned bY Subjects Of Ores
Britain, France. 6er9any, ard Switzsflaad :
The State owns OF baak and other stocks abon
twesFe millions i've Auadred thousand dollars
The .Alernsl improvement debl OF The State %
ring. the past fiscal year was increased abotl
/ three hundred and my thous3nd dollars, q
which Two Hundred and ffly iholsa1d delisr
i was loansdte The James River ard KAMA viii
Company, and pne hundred Ihousbne dollars, ~
balance. was paid bysihe Poard OF Pubic Nofk
10 comPlisnce with contracts previously entefci
into BIZ that Board uHdef direction ofIhe Legs
/ tatnte.
iIavingssste1 DE debt &c The State and is rs
sources. ihe question naturally Pfeseats itssist
one unacQuai1tsd wilIIthe fscls-zheu is lt, VA
Slate. with resources nearly double Is llaPlsl
4 ties, indepeBdeni Of slFtaxss, should Be eEa51r
| raised ia. il financial condition
The answer i plain oas. TIE Interest up
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