Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1842-12-07
GOVERNORS MESSAGE.
Gentlemen of the Senate

Quirements of our political institutions, the
mind naturally reverts TO the past, and the
heart TO the Great Author of our lives for the
oounties OF his goodness. A benehcIent Prov
Idence has smiled upon since the last annu.
al meeting of the Legislature. and we yet en-
Joy all the elements Of our national greatness
and prosperity. We have been once more
permitted TO convene as the Representatives
of a free people; TO convene in peace; to con-
vene after a season o: agricultural plenty and
general health. The recent treaty with Great
Britain has banished ali apprehensions of war
from our borders, and has secured to US a
bloodess and satisfactory adjustment of an
unpleasant controversy with great and pow
erful nation. Ana although there is much in
the depressed condition Of our monetary af
fairs, and in the uncertain and unGxed char
ac:er of our national legislation, which may
well awaken regret and disappointment; yet
wa have much, as people, when contrasted
with others, to bow our hearts with unfeign-
ed thankfulness to the Giver Of all Good and
TO inspire US with new ardor to persevere in
the work Of transmitting what we thus enj oy
10 those who shall come after us. 1t IS TO be
sincerely hoped, that 10 this spirit OF graft
tude and patriotic determination, the Repre-
sentatives Of Indiana have at this time assem-
bled in the discharge OF their high and honor
able duties. 1t is to be hoped that, in the ex
ercise Of the important and exciting trusts
which now devolve upon them, bright
ample will be held forth TO the world, Of in
tegrity, fairness, and moderation; OF respect
for the laws, and OF firmness in their eXecu
ton; that the spirit of lawlessness and faction
which has been else where unbridled will be
promptly rebuked, and that the utmost har
mony will character Ize the agitatlng duties OF
the present session.
Directing our attention to the sphere Of our
immediate duties, we find but few subjects to
engage the labors of the Legislature, yet these
few are Of pressing concernment 10 our cIti-
zens. Among the most important of these Is
the condition OF our currency. Ia the year
1889, the Legislature, for the purpose Of pay
ing contractors on the public works, author
lzed an issue of treasury notes TO the amount
of 1900 900. The notes formed a very
considerable part Of our circulation, and pas
sed at par until about seven months since.
when they suddenly deprecated in value be-
twean forty and fifty per cent. AT that time
there were over S 100000 of these notes in
calculations; and the immediate effect was not
only 10 leave in the hands of the community
a circulating medium that answered but few
OF the purposes of money, but was also equal
10 clear loss TO the people, by this sudden
depreciation, OF nearly half million OF dol
lars. But this was not all. Shortly after
wards the State Bank resumed specie pay
menis, and thus strong line Of demarcatIon
was drawn between its notes and those issued
by the State. This however is not all the In
Jury that has been suffered. Nothing ope-
rates more inluriousv upon the business Of
any people, than to have two kinds of circu-
lating medium sustaining different Values
The worse currency is forced upon the peo-
pie by every pretext which cupidity can sug-
10 tt,oh bot c,t
extent Withdrawn from its legitimate employ
ment, and applied, in the hands OF the bro
ker, to dealing in the deprecated currency.
The effect OF these treasury notes on the
State Treasury will demand your considera.
ton. Nearly tn, entire State revenue for the
past year, from present indications, will be
paid in this currency. This leaves the treas
ury nearly destitute ofmeans 20 pay the mem
bers of the Legislature, the various public Of
fcers, and the current expenses of the Gov
eminent. The share Indiana is entitled &c
receive from the distribution Of the proceeds
OF the public lands is S26,877 &c. The Gen
eral Government has withheld, of this sum
Si3,975-to pay back interest due on the
bonds Of the State purchased by the Genera
government, and invested In the Chlckasaw
and Choctaw nnnuties, leaving a balance &c
the credit Of the State of Sl2.9o2 &C. This
may be set down as constituting the amount
of actual money to meet the expenses of the
State for the present year. The deficiency
is to be supplied in such manner as the Legis
lature may direct. The devising Of ways
and means TO defray the expenses of the Gov
eminent is thu peculiar province of the imme
date representatives of the people, with
which may not interfere; but cannot pres:
too strong y on your consideration, the ne
cessity of using every exertion for the eori
est practicable redemption of the treasury
notes 10 save the people from further loss
and relieve the revenue of the State from enI
batrassment. | would also call your atten
ton TO the impoIicy of re-issuing treasury
notes that have been once received at the
treasury, ii it can possibly be avoided. As
the amount IN circulation is diminished, .heir