Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-12-05
GOVERNORS MESSAGE.
Executive DEPARTMENT,

t.,l.,, e,t,.,.. Of "a, S.nat,.

esercSe o the functions 10 which have
turned SO frequently, however, have previous Lcgsa
fare. convened under like condition OF things, that you
will see In the existing nothing TO be surprised at
any thing rise which - not incident At MI times to the com
MAO, or.e and orcrnii0n OF Governments. Like other
Legislatures you will find IN tum how dicult IL 10
place the wide and interests OF the commonwealth
upon thcr soundest and stondci footing And like oiher-
too YOU will 6nd TINT when you have executed your trust
An lin. rcsnsct To the your ability and means
have extended your aid thing that may be thought
TO require deserve IT, and applied your remedies to every
discovered defect In tho policy. principles and adminstro
ton of the laws that the inherent tendency OF them
ell 10 relaxation and disorder will operate Just be-
iorc-ihat your own labous will result IN i'npeHec-
tons which the abous others will be required To
rect and that great problem OF what Is best To be
done for the good o the commonwealth, wi continue 10
occupy your successors office onxously it
euprs YOU Such s the movement cthertorward
or backward, In all human things that the duties Of egis
aton can cease, matter how well wisely they
may be performed. And least OF all these duties like
To be suspended oyen much less in communities
like ours where whole body OF the law is IN perfect
sympathy with the people upon whose consent II u formed
and where necessary consequence change will be made
follow change, because the puIc mind - reckless o
results hut because the contrary Is habituay, ardent
and profoundly intent shaping results Tor the best
and obtaining human happiness every thing which
government and laws be made 10 contribute These
the duties which await you, and such has beru the
general health the general abundance the perfect peace the
soothing repo-e from party conflict the exemption from ca
smites OF all kinds by which the that is closing has
been Marked that enter these duties surrounded
by blessings which call and upon the STATE tor de-
NoueSt gratitude 10 linn VINO mas PROVIDED
them all. With advantages suspicious 10 the calm. wise
and prompt execution OF your duties the public have
right expect that correspondent good WILDE received
that without cnEossing your with legislation
for small defects You will arrange with wisdom tho pecun
airy bur;hons OF the staicw foster with liberal hand the
subjects OF education and internal cUnmorceand Gbour
bring the sympaos and interests Of scattered people
into fellowship and unity with each other, lay the
foundations sui broader and progressive prospect
than have yet enjoyed, and thus contribute useful
share To the patriotic work OF rendering the commonwealth
every element OF ply sica moral and n,ellectu
power size has been strong in the veneraon and
attachment OF her children.
should overlook the manifes Atons OF public anxiety
less than the pressing Of the State, II not
the very outset OF your abos nd the subject
OF finances amongst the rst and principal Of any
winch can or ought 10 engage heln ms j. always &C.
cste and embarrassing subject when considered with
ference taxation, bat when the ne.
eessy for continuing high rate OF Iovenue co-exist
does present. with and Encouraging TclGC-
lions in the mnrko liable vouo Of the property from which
must be 1kcn In this case, ordinary difficulty of
sessng tax which shall be fair in its relative proportions,
and sufficient in m total amount deeply aggravated BY
the necessity OF keeping up its exacols very
when it would be desirable relax them This
necessity would not now be seriously et felt ALL had
the law Of the last Legislature providing for Of
revenue during the present year, been productive
intended and expected to have been But it has
no, been having yielded little than half tue
was expected 10 yield II Wal be tor supply the def
ciencics OF the ensuing year either by re-enHcing the
law, or 10y adopting other not less effective.
Whilst however, this aw has but partially accomplished
the current expenditures Of the State; together with
upon permanent debt and pay of It's temporary
loan from the Banks has effected certain collateral and
contemplated objects OF great value IN the gratifying
and setyiceable manner. When IL passed. le bonds
oi the State, although they bearing interest which
was payable hayeary the Treasury, and which had
been punctualy paid, had sunk depreciation low
~ or IS cents in the dollar consequence doubt the
wide spread and ndscrimnaie suspicion with which the
moned obligations of the several States had lie
garded Since W passage, this depreciation has disappear.
ed, ana the bonds above
aud 50 risen, unquesuonaby under the influence q the
law o, which following Up practice the resolutions
your body ia the Of tine guaranteed bonds, proved
lofty and determined spirit IN which the whole matter
considered, and rendered IL perfectly evident that the now
OF the Legislature would be wanting 10 protect the
Obhguuons OF the State from false and caueles dscIrdl.
Ii nightly considered by tho Legislature that these bonds
would not be restored their par value especially under
the approximations which harrassed all Glasses OF public
creditors at the time, except 10y law pledgng IN the
most substantial manner the well the faith
the State them and that tins IN.
dspensabe 10 maintain the credit OF the State against
founded dstrust and perfect Justice TO those who
had trusted their money herhands. This object nCces-
sary both the commonwealth and her creditors Ina. been
completely effected and the credit Of the Sa's avs IT,
irinsicny sound indicated and relieved from every cause
and preteXt OF suspicion.
But this i not the only advantage resulting from the ap
probation Of these bonds that mas come in wecola. mo-
meni To be eit and enoyed hy citizens OF the out
standing debt OF the State, amounting 10 seven u ous
three hundred and hy thousand dollars ne ar three
OF It are held by foreigners and by cizcls OF the other
States, and the residue divided between our own CHI
zens and our internal improvement literary and sinking
funds, together with the proper the citizens
holding two millions nine hundred aud seventy thou
sand dollars OF md the State aud her funds one million
three hundred and eighy-sS thousand dollars The whole
amount. therefore, Of this debt, which is held within the
STATE four millions three hundred aud sixty three thou
sand dollar, and the difference between tn, value
of before the law in question va passed and
hiatt between IS l0O the difference in favor If the
holders II follows that the state. through her funds and her
clens has been sa:uer by operation oi ,ls la,. TO
the amount 81 something iln ninc hundred and Gv
nine thousand dollar; greater SUN than he ordinary an
nna revenue OF the and teniod greater than the IN
creased tax the imposition OF which has decided and
oenGhem an effect m producing It, 1t thus Appears that
whilst hundred and eight thousand dollars have been
the people for the necessary and honest purpose
paying the debts u Tie staie the very ac Of dung
this has been the means substantially and i'm effect Of dis
tnbuing back amongst them an active and available
property OF near ten times that amount the stock held
by others Than individuals be- excepted romh. calculation
,h'm more than So times that Blu, If the sum &c.
tualy collected had been doubled a. il was cx.,tad
10 have been, proportional excess Of benefits hiphv adj
Nant1geous, would su have icmlined IL there ia M mis-
take ~ this estimate Of resu- and the facts upgp t
proceeds would seen, be too simple 20 admit of any
would b. dicultor ste discharge any part Of her
Obligations upon saisio eury aud indfmnfyirg tprs
ana h"rdy possible 20 enact revenue law which could IT,
pay ii' own cy1cuou- hes 90 full 200 equivalent.
Mh-i The Hse Of twenty-five three dollars ia TIC hun.
ded IN the value Of stock is an Oh, iutg benefit
amounting the aggregate stated let il not be- supp5.d
That 1t is the addition hi to tho ratabo value Of
sp'a" property m the benefit Of which tho public Of age
NS' piANlpalFs ouGii on would be wholly
neous. As long tins stock remained At the discount 10
"h'eh cnuse'ess apprehension had reduced IT, was ne
oe'sany locked up IN the hands OF holders and not
whstandins ITS vast capacity service was almost value.
les Tor any u could un bo used 100 tho liquidation Of
oeoN nor DO The transaction Of other business except %
''"- anu lI'f'l.r' u.s. whole, scarcely
u''N OF ".l Ire moment. h1ocyol, this dIscreit was
mfo"n OIL aud % ro-C puf under the doub. pledge uf
tue law, and The honour o the IN redeem IT, that mo-
meul u acquired 90 MANY o. p.r hr qualities OF money
'oO'd be used Tor all pup0s' except those NJ circulation as
money ilsc could boz used and Equivalent Ia h, oil.
oinon o. TIE Toll amount held by Individuals or three mil
lions OF dollars 10 The ayanbc capital OF the state TO what
.Renn ponio fact hlsheon employed as such u would
bsdiheuli tosay 90 indefinite orc the modes n which iigt
have been made 10 discharge the functions Of capital with
Slih'0NR inc lofmauy Of transfer NJ the auditors Of.
hes But that DC has been literally used In this yay h r
more CONSISTENT with The probabilities Df the care than t
contrary % ishardy possible tlatso immense sum- sOca.
puo o Advantageous ,cou have been held bsck
ION Ie h'd ~ employment and ktptin pro6tess narf5n
NH'n W, most impouuate motives IT necessity interest
u "ere hourly TarsuadnE and impeliug o, be
o''nt ~ these several results upon public nnd p1
F'io credit and upon Oh, hass of money operation. ne
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