New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1842-08-18
y-yoRA, THURSDAY MORNING, AUGUST rs, Rsaa

rican people themselves in the financial wisdom and nte
| rity of ths governments eff other States
IsubmieG as course proper n the emergency ihaI
care should be taken credit by stating
Justly and without exaggeraon the actual Indebtedness OF
the State; By outstanding our rsyenu by preventing cur
condition., guarantees from becuuug fixed debts by scru-
lusly performing our engagement with contractors by
prosecuting the unfinished works firmly and even with SIC
damenal condition that should be- borrowed
in any year than sum, The interest OF which could
paid with the To be ascertaed from The
actual receipts OF the preceding year and by constituting
sinking fund with the MONIES annually received rom The
proceeds OF the national domain together with sufficient
portion of the surplus revenues which should be nvoap
pledged and steadily applied to the constant dihuiion and
fnal I,"guishnent OF the principal of our debt
And these suggestions relating the direst acton of
the Legislature added Others earnestly recommending
that influence of this State should be eserted TO secure
The adoption of naioDal which the eXgency
dered necessary Prominent among those measures were
tariff Ia s, the restoration OF the currency and some mode
Of enabling the indebted States reder their portions OF
the proceeds The public aEds Immediately available for
the payment of their pressing engagements And also
urged that the false and fatal principle OF repudlang pub
lie debts which as vet had not been openly promulgated
should be met by this State with such an expression OF DIS
appreciation and resuke would Convince the world tha
come what might disaster, far as our acton
and influence could be eff ctusi the faith of not only THIS
but of all the States of the American Union should be pre-
The policy thus recommended did prevail and the
evils then spprehended are fully. realized. State after
any, neglected perform their fiscal engagements,
and thus dark stain ausing itself over the escucheon
destroyed, and our own is Impaired our
great and the convuSlve efforts which have been
made induce discrimination between that credit and the
broken faith OF other States
Urde. these circumstances, adhere 10 the views
before submitted and invite their reconsideration; and 10
avoid any misrepresentation ecsmnend that the LegiSia-
rescnd the law directing the asconnuance OF the
public works; render the New York and Erie Railroad
Company the aid necessary to enable them TO recover their
credit and resume their operations and direct The fiscal OIL
cers of the State instead OF ressrving surplus revenues
from the canals for the payment of debts due al distant
RODS 10 apply such revenues with the proceeds from the
national domain, TO the prosecution o. the public works up.
on the plan before submitted until works snail be
pec and become productive; provide ether aud ad
dt;ona temporary means, If necessary for that important
object, And further recommend that the Legislature urge
upon Congress and especially upon the President The ne
cessty tariff laws adequate TO revive our industry and
and restore the credit OF the General Govern
ment sound currency upon specie basis and OF uni
form value throughout the Unon and above all OF such
shall the several States not only their
dstbutve shares OF the public lands but such further con-
stutona aid based upon those lands, will enable them
promptly 10 recover their credit.
Ii be denied that the time which has elapsed and
the policy which has been pursued have incl eased the dl-
cu;ieS be overcome, and yet with proper effort Tie
ground we have LOST may PC re
and small portion OF that energy which was put orh
secure It's establishment and successful triumph 1t was
then thought unbecomng for the States 10 invoke the
cooperation OF the Union ana OF te several Slates 10 a
urge upon them the adoption OF measures which
will enable them to perform their own obligations, the ne
elect of which has involved however unusty the whole
country in common calamity.
Whatever may be the decision OF the Legislature these
questions il at all events desirable to mitigate,
as far as may be- the msortnnes in which the community
involved absve all to abstain from which
would asgravate existing evils do therefore most earnest
~ protest against any further sacrifice of works already
completed in progress of construction, being alike
waning magnanimity and wisdom; anu while ask for
the New-York and Erie Railroad preference over tle
works in which the State directly engaged those
of similar character other localities yet in view OF the
imminent jeopardy in which that great enterprise is
placed recommend that the proceedings tor It's sale be
discontinued; and whatever else may be omitted, again
mediate res umpon and speedy completion OF that work,
which, under~beer auspices would add dignity and lusre
the character of the republic also earnestly recommend
that instructions be given the Canal Commissioners
curing them complete and put in operation without fur
Their delay al least the nearly finished portions OIL me en-
larged Erie Canal.
Thepeope however, look not for temporary partial
Our ieowczens urge us TO resume the public works, by
pleading the distress which their suspension has already
produced They point Us to labor unemployed, and
.es impoverished; trade diminished and discouraged
credit parayzed land and property deprecated and
passing from hands hardened with The labor production,
others that wait 10 gather the rpened fruits eslndus
try 10 disappointed expectations built on the pubic iah
with increasing expenditures TO diminished re-
and proracted taxaon TO increasing and hopeless
embarrassment and decaying enterprise and to long and
cherries decline from career in which so much has been
won for the interests and honor of the state.
But We need such painful incentives. Progressive
physical Improvement compromising the north as well as
the SOUTH the and the west opening every necessary
chaneI and disclosing every resource which nature has
bestowed emphatcay the policy Of the State And we
required the course we have e by every
consideration ofduy ourselves to Posery 10 our coun-
try, ard to mankind.
in closing this my last general communication to the Lee
ga.ure would evnce singular lnsenslbllty not TO anuc
pate my retirement from the trust which have received
from my fellow citizens Far from indulgng belief that
errors have occurred in conducting the civil admins
traon of State embracing such great and various ter
ests am nevertheless, solaced by the reflection that
motive has influenced mo inconsistent with the highest
regard for interests and honor of the State and with
The equality justly all its citizens Ii may be that
in seeking raise degradation wrechedness less
favored classes unusty depressed by the operation of
equal laws adventurous circumstances or in aiming TO
carry into remote and equestered the physical and
commercial advantages already afforded TO more fortunate
and prosperous districts have urged too earnestly what
seemed the claims OF humanity, justice and equality
remembering the generous appreciation which those
profound sese of obligation and spirit OF enduring graft
tude shall never invoke in behalf Of the People
of this State continuance of the invaluable privileges,
civil and religious which they enjoy and 10 npore
that Great and Benecens Being who directs and regulates
the destines OF Nations promote and watch over this
Commonwealth in its continual advancement throughout
all succeeding ages WILLIAM H. SEWARD.
albany, august 18Th, 1912.