Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1843-01-07

7 Tile uHEFU I'blR u itlS dIitt'c ftth
will be at the ehore TO greet you-tbey con
fdently expect to see YOU, aud are,In ttelF
turn, We assure YOU, we'll worth being seen.
Cevrnron's MEssAsE.-We see by the Tro'
pic Of Wednesday, that on the 23l January
lsIs. A. 3. Roman, Gorefnsr Of The state OF
Louisiana. read 10 The Legislature Of said
Stale a message. of which the following is a
synsrsis CIhe date as given BY the Tropic,
Is probablyan error Of the printer: it should
he. doubtless, Jan. 3, 1879
The Governor opens (nct rich.) by a~lluding
to the embarra sulents suffered in Louisiana,
since his last message. The banks. he says,
" in the year just past, have met witt, the fate
| predicted to all these Institutions in the UniVn.
by such Of our Statesmen as endeavorsd to
! prove the necessity Of a National Bank
The Governor recalls 10 mind the recon
, monlatiens IN lis messages Of 1910 and l94l
for the regulation or The State banks. He ad-
| mits. thatthc acts Of the Legislature # 1919,
respecting the banks need amendment, but
doris nut con#ider them accountable for all
til" evils charged against tllcm. A cnrscry
review Il then given of the various phases
thrsugh which the BANKS have gone since the
RESUMPTION IN biay last. Seven have been
Frustrated, but nine stand frm, with = c%ircula-
ton Of less diam sl.Gs1.5lt, while they have
N their vaults g45G5.e G5 Of specie. "rhese.
CONTINUES the Govefhor) "shoHll rot be held
responsible for the abuses of a system which
The Utopian theories Of a purely metallic curs
rencv can never superteds. and winch may
again he called to WHY our commerce nnd
our agriculture, a. it constantly did. when lis
operations were restrained within the bound
Of moheratioh.'
The following paragraph is OF a character
too i'm rrrtant-cmbndles ton much truth --tU
bear mut,lation or abhreriHtjun
In the encouragement Of orr home indus
try Is to he found the only effective remedy fsr
present evils. The minimum duty winch Cot
ton goods have to pay OH their llnpoTla-
ton to the United States. tends towards this
brneft ill result. Under this protection aur
manufactures have not only succeeded IN fur
rishing us with plain cottons at 4 lower price
then We had ever procured them from Europe.
but they have also been able. successfully. to
ropienf IN foreign markets With The manUlac-
torc-e Of England. W. do not. probably, pro-
d.. mere 'han enc-third Of the sugars reI-
sumr,l In the tr1.-- So l"' this onnod
iy has BOW Ia struggle e"ala&t the itnbnrf1a
tinns nAih have been made while thu duties
were reduced e = rate is ruln0uS ~ The public
rCvenue as "a orr industry We must also
wait until tt NplId sagar. Illegally lntr0un-
Ccd under D}- name Of mnl1Ssrs, shalt have
tscn consumed The assertion Ivy on Of cur
member In Congress. that n minimum duty
Is also required for the protection of our su-
gar planting interest. is cmpbatltaHy tue
We Shsutd have q duty nf at least ono cent
per pound OH molasses. efjoCtualIv 10 protect
the revenue and our sugar interest against the
introduction Of foreign liquid sugar under
that name. Louisiana could then. by approx
prlatlng q part of her cotton fields to the cn'-
ture Of the cane. retain within the limits of
the Union, more than eight millions Of dol
lars. which are annually exported for the pur-
chase of this Article"
So also is the following:
"Among the Banks which have been placed
in liquidation. are tho Citizens Bank and the
Consolidated Association, whe>n capital has
been created by thc negotiation in Europe
of bonds issued Ivy The State. The StoCkhoid-
erS Of those institutions are bound by The
charters granted them, to pay tn" interest and
principal Of the bonds and h secure the OK
ecutlon of this obligation, they have given
first mortgages on real estates. the value Of
which exceeds the amount of the. debt CON
tracted by The State. The bonds TO be paid
by the CONSOLIDATED Association. amount to
f.. 100000. secured by mortgages for $4,000.
coo. those negotiated by the CitiznnS' Bank.
amount te $7.lsG ess. and are guaranteed by
MORTGAGES for Sli 0 1000. None Of these
bonds have as vet been plslcstcd there eKls'S
in my mind, no doubt Of the sutiiCIencS Of
the security given for their payment; but the
It difficulty Of collecting in time the funds which
those Banks have inprudently loaned out. SO
as 10 place them bcvond their immediate con-
troll, viii. in the course Of this year, renderlt
impossible for them 10 fulfil punelualIv their
obligations to the holders Of the bonds.'
The Governor is firm in the conviction that
Reputation viii never obtain IN bcuiSiana.-
He thinks IT will not be necessary 10 lay any
additionaltax on the c~itizenS Of the State in
case of the non-paynent Of the bonds issued
IN favor of the Consolidated and Citizens
Banks The stockholders, he contends, be-
ing the only persons benefited by these bonds.
should be the only persons held responsible
for their payment: aud not until the property
Of all these are sacrificed, could any call be
made on the State to redeem tho faith she has
pledged in their favor. He hopes, however.
that the holders Of the bonds, in consideration
of the ample security given Cor their redemp-
;ien, viii find it to their interest to adopt an
indulsent aud mild course towards the debt
ors.
Inrelation % The taxes, the Governor re-
.>.arks:
TIE embarrassed situation of tie wIuoie
country during the greater part of the year,
has rendered it., If not entirely impossible, at
| ast very Il nicalt to collect The taxes due the
State. The balance sill due on the 3lsI of
December, was Si6s.bHtQ. The laws passed
al the last Session. To increase the revenue
aud diminish tie EXPENSES ct the State, have
not had the expected result. The DEFENDS
on the treasury for the current year VIII pro
baby exceed the receipts by he sum o,
$4,000.
Suits have been instituted against the Mex
icau Gull, Clinton an Port Hudson and Nash
vile Railroad Comprehensive fret Of which
is yet undecided. The Charters ol the two
latter have been forfeited. JNa last was ad-
10 tbs STATE for S5o.0e0, including the
price o. ten saves. II bsIsaSs 10 the ieris!a,
turo % decide what u.s. shall be made Of this
purchase
Under TIA '1W Of Cannes d,ro~ii,r eacb