Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1842-01-15

,roed, and now contro's the hanspnra ion on our
pubic works.
!, may possibly be supposed that the Canal Com
mssionen possess adequate power nl'c dy for this
purpose l'u, this is to mistake the rase From the |
ma ure Of that 'epa,tmeu, Of the government, 1t is
always made the ta,gc, ut which thr dsconen'cd
and interested point their shafts. Not session OF
the legislature passes without karrassing the COM
lnissioners with nvcstg ,,iura,--he whole state Is
.nsackcd for accu ers,-ev ry act Is questioned
and ,niprcpresen e ard aft ALL the result is fruit.
less. Tue Il st instance /. yet TO he found, III
which any thing tangible has b. en- produced, or a.
ny .sluiary reform ot the sy item Ctiecled. w ere
the legislature TO devote session to an honest
and thorough examination and correction OF the a.
buses and defects of the system, without Annoying
and Iutsuing individuals for sinister ends, not o.
prnly avou ed. much good would he produc d but
under any other mode Of treating this subject the
issue must he as idle and frivolous as heretofore.
do not wish to preclude the most sea ching IN
We t,ga,ion. merely dcse to direct your at.en-
ton in channel that will be beneficial TO the pub
lie.
One Of the ~, a,cst evils Of these frequent and
frivol US inv,siiga MS !. that they bring leg'sln-
tive invesg ons themselves into discredt. The
persecution Of the innocent, always furnishes a
shield TO the gull y.
II is now, throughout the country, q matter Of
idle sport to talk of these investigations. The mode
by which they brought about is well understood.
A few dissatisfied contractors, and Others, impose
on The crehuity and stimulate the ambition ot some
m, mber Of he legislature TO offer petition, COM
plsining Of public grievances. committee to IN
vestiga is appointed, -suhpTnas are issued, and
.usightwsy, swurms Of hungry confederaies thiong
the seat Of government TO prosecute their claims
before the lcgislaure,-io lounge at ihepuhllc e1-
pen,e, unJ ipin u wholesale page Of the treasu-
ry At the close Of the session the committee ic-
por,s-t the witnesses return to their homes, and
i.ugh at the trick, as they pocket the spoils. by
| reference 10 this subject, II will be found that
large portion Of the legislative expenses Is Incurred
! in this way. The extraordinary increase Of these
expenses over those Of all oth,r departments ot the
government, has been Of late years matter Of just
complaint.
| I, becomes my dstv, in the next piece. TO invite
yui earnest attention TO the present condition of
the banks, aud currency Of this state. II Is most
lamentae fact that in relation TO this subject the
greatest rrrgularity and disorder prevail. II srue
We have little If any, of that tchcd ilieg Al trash
in circulation, which, during the early part OF the
las, six years. infested all sections Of the Common.
wealth. in tho forms of notes, checks, certificates
&c, tNc Of corporations and individusls for small
sums, put forth without lawful authority, aSd 10
spite of the prohibitions Of law hut we have, wha
is little better, large amount Of nots in crcr H!on
ostensbly lsgsl, and purporting 10 lie OF equa sal
ue, because founded on the faith Of the state, b,
Whatever bank issued, and yet, notwithstanding
this fact discreded and repudlaled hy the very IN
s,i,u,ons for whose benefit aud relief they were au
thorized 10 be issued.
; The oct Of the last session entitled, "sn act Il
. provide revenue to meet the demands on the tres
sury, and for other purposc., under the provision
, of which, these small notes have been thrown int
? circulation, having become law by the sanctio
Of two.,hirJs of the Legislature, according TO tn
. forms Of the Consliiu iuton, Notwithstanding the OF
jrcons of the Executive, have rxeried myself t
the utmost to see its provisions properly carried ir
9 to effect. This was my duty as the Executive an
have !ei,hfuily performed it, agreeably 10 the be
dictate. Of my judgment. did hope that some {
the evils which have resulted from it, might hav
heen ohvi,,ed, If il wss enforced by me, and acle
: upon in spirit Of enlarged wisdom. by the hanl
n Themselves. This hope has been vain. The wor
snticipations have been realized, and II is my du
. TO sugge., such a remedy, as appears I" me, To
. best calculated to correct the grievances, und
:, which the public labors.
: : BY this act a loan Of three millions one hundr'
thousand dollars was authorized, to Tsy specific a
propria,ions made by the said act, and the sever
n banks of the Commonwealth. subject 10 the pa,
,, men, az a tax on their dividends authorised
subscribe for the same in certain proportions to
d capital stock OF each.
V The whole amount Of banking cnpi-
: tai in the Commonwealth is. s2s,5is,s;
&c Banking capital not subject to a tax
y on llyidcnJs, 4,l5oOt
II Banking capital subject to the pay -
~ mcut of q tax on dividends, SlS,4o9o
70 OF he banking capital subject to the PAYNE
,. Of tax on dividends banks holding to the amou
le Of $40 S26, li5 did not accept Of the provisions
p the act Of 4lh May to provide revenue, and hen
le ,ha ,f th. hank ~ [
oi provisions Of the said act, amounted only 10 I
: sum Of 81, ,573229.
e. The whole amount Of the loan taken hy the
n' erpting banks AMI paid into the treasury IA 81 5
$50 6s. Ieav ng the sum of 81 ,3i3,349 81, whl
Is has not been received
Q On the 80 h August, 1sii. I recertel an of
d. of the Tow Bank to Subscribe for an addi'ic
te al sum of one hundred thousand dollars OF the s.
d. loan and On the same day accepted On offer
II the E,ie BANK, tn subscribe f,r an additional 81
s. OF Ihee hundred aud fifty thousand dollars
IN Of these ufYrrs the s,a'e treasurer agreed TO
TO cept from the Erie Bauk. the sum Of twenty 8
'h thousand dnilars, and from the Towards Bank
D. SUN Of thrt, .seven thousand five hundred dnlla
N This bank did not accrde 10 the proposition to
n cent part Of the sum Offered hence no part OF
pS one hund ed thousand dollars was received al
n treasury. Thus 1t spptars very large poIuon
no the Iva, king capital, subject To tie operation OF
i' bl, has taken no psrt Of the loan at ALL and c
a. OF course, have no clam To indulgence under /.
Ia law. rhnse hanks which have complied. stand
e a different posion-t er loan must he Tepaii
a fore they can be 70 ced 10 rrsun'e II Is an mo
Ts' " Of much moment, whelhrr the banks that h
ne not complied with the requ'sil'ns OF the law III
OF nor 10 lie dcpr we'd Of the sdvan'ag arising n
10 the US, Of lac IoIes i-sued Ivy hose that did,
:. Afier the most patient reflection on this 81
I tpt hat he
II. lecI am pe,s"aueu '""' VI, o''y " s Wv g :
certain remedy is to repeal the act 20 Tar