Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1843-01-11

ana prOprlety OF making them are now beyond
question. During the last year, as well as for
mer years, the canal commissioners have been
assiduously laborng to correct the most glaring
of the errors and abuses which had crept into
the management of our public improvements.
They have done much, but much remains to be
done, and unless seconded by the Legislature,
there will much remain to be lamented, without
the power to remove it.
Nothing has been done under the acts Of As
sembly passed at the last session. for the incor-
poTation of companies to complete the unfin-
ished lines of our improvements If any more
effectual mode for the Accomplishment of this
object can be devised, it will afford me great
pleasure TO cooperate with you in carrying it
into execution.
The resolution of the General Assembly of
the 7th of April last, relative to the payment
of interest to domestic creditors" provides that
such of the creditors of the Commonwealth as
do not choose to receive certificates of stock,
shall be entitled 10 a credit for the amount of
their claim on the books of the Auditor Gene
raj, and shall receive interest at six per cent on
balance due for work done prior TO the 4th Of
May, lS4l, interest to be allowed from that
date, and on balances due for work done since
the 4th of May, lS4i, interest to be allowed
from the passage OF the act. And the first sec
tion of the act of the 9Th of July last, after
making certain specific appropriations, directs
whatever balance may be in the Treasury on
the first days of August, November and Febru-
ary, then next, after paying current demands on
The Treasury, to be divided pro rata among the
domestic creditors, having claims for work done
prior to the 4th May, 1871, or for repairs, &c,
Oh finished lines of canal and railroad previous
to the first day Of April 1912 In pursuance Of
the foregoing acts. claims amounting in the ag-
gregate to ST l,19l,7 ,710 %, were entered on the
books Of the Auditor General at the close of the
| financial year, of which sum S597, ,46l IS, was
| for work done prior, and $594,248 45, for work
done subsequent TO the 4th of May, lS4l. On
| the first day of August, the Treasury would not
admit Of Observation-Disclosures the first and on
! ly instalment, twenty per cent was paid on the
| first of November, together with all interest
then due, which amounted. dividend and inter-
est, TO S209,589 43.
! Notwithstanding the very satisfactory result
which has grown out Of the broad and liberal
construction given by the Auditor General, to
the resolution ofthe 9Th April, there yet remains
a very deserving class Of creditors, who have
received none Of lis benefits, nor was it at all
practicable to bring them within It's provisions.
| The poor laborers scattered along the improve
ments. who with their own hands do the work
necessary to keep them IN navigablc condition,
/
/ eminent In this instance they were entirely
overlooked, the appropriation for repairs being
! inadequate. From the character oftheir claims
their comparatively trifling amount, and their
| number it was found ineXpedient to enter :hem
/ on the books of the Auditor General. If they
had been entered it would IN many cases have
cost the whole sum due TO procure the dividend
| from the Treasury-and indeed it would be a
mockery for the government, instead of pay
nent 10 offer poor laborers a pro rata dividend
on a claim of a few dollars. 1t is ardently hoped
hat this worthy and in most cases suffering class
of domestic creditors, will receive the immedl-
ate attention of the legislature.
1t has happened in relation to the banking
! system Of this Commonwealth, as has on many
OCCASIONS heretofore been the case with the in.
situtions founded on unsound principles, that
with all its power, and with all its hold on pub
lie confidence and support, it has fallen by the
weight of It's own imperfections. If any legis
lative action can restore public confidence IL
the banks, or rerder them Of more service tc
the community, it will become your duty to fur
nish it, The mode and detail Of the aid to be
rendered, leave in the hands of the represen
tatives Of the people. But the public certainly
expect that YOU will not adjourn until you have
made ample provision for Withdrawing from cir
culatlon the notes issued by the banks in pur
: suance of the act of 4th May, 1871; and it will
afford me great pleasure TO cooperate with yol
in any measure that may be deemed most advi
ble for the accomplishment of this object. A
the same time, will take occasion to sugges
one source, from which The means may be read
lily obtained to extinguish q large portion o
these issues. refer to the sale Of the Bank
Bridge, and other stocks, i'll which the State il
interested. think an amount might be real
lied, in this way, sufficient TO answer the pur
pose, fprovision be made by law that the pro
! ceeds OF the sale be exclusively applied to tha
object.
The present condition Of the Bank Of Penn
sylvania requires the most careful consideration
Of ihe legislature. The state has deep inter
est in the proper management ofthat institution
and equally so in winding tup, if that be deem
ed polite measure. Several acts were passet
during the last session in relation TO it, but ow
ing to some defect they did not answer the pur
pose designed. Some remedy should be a
| once provided One suggestion, / will mak
on the subject, and that is, that in no contingen
, cy shonld the control of the bank be placed ex
clusiyely in the hands Of the private stockhol
ders Let the Stale and the stockholders b
put on the same footing each having respec
lively, the share of control equal to the amour
of stock held. No just complaint can then b.
made, and the interests of all parties viii b.
properly guarded. This much, at least, In