Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1843-12-15

dence with which have been honored, lam
guage Is too feeble 10 convey the emotions OF
my heart.
But if words are powerless for this object
where shall find terms adequately express
i've o! my sense Of the honor conferred, and
OF the weghty responsibility imposed, height
ened rs they are by the unexampIed embar-
rassment and difficulties, in which the affairs
OF our beloved State are at present involved?
Concious that the duties of the station
sigued TO me are far above my talents, |
should wholly despair Of their successful ac-
mpiishment, did not feel, that, next 10 The
protecting care of Providence, | can best
repose in the wisdom, patriotism, and zeal Of
the other pubic tunctIonarIes provided by
the constitution and the laws, here and
Throughout: the State, for an efficient aid and
guidance in oar joint Efforts for the common
welfare.
Not having yet entered upon the functions
confideG to n4e--wiIhout access TO the hsca,
other archives of the Slate-and the reg
uar message, enjoined by the constitution
having already been Submitted 10 the pres
en-; legislature By my predecessor, Il IS, at
this time, beyond my power, satisfactorily to
exhibit, as, indeed It would be regarded map
proprIatc now 10 submit specific recommen-
datons; for Coordinate action.
As the powers delegated to the Executive.
however, are calculated to affect interests OF
vital importance to the whole people, may
be permitted before entering upon their eX-
ercIse, TO give a brief view of some general
principles, which in my judgement, lie at the
foundation of our prosperity, and shonld reg
uiate the administration of oar public Affairs.
Our State in common with the rest of the
Union, and especially OF the western portion
of il, is experiencing the distress and embar
rassment consequent upon system OF over
hanging, and lis aatural progeny, over trading
an4gdece ptive speculation. The wealth OF
community, consisting essentially in property.
OF which the currency is but ahe representa-
tive, 1t Is evident, that an.1ndGe increase of
the latter by meaks of asaap~r circulate n,
former, does no. really increase its substan-
,al value. The tendency of tins state of
things, is to relax the hand of industry by
creating false notions of wealth. and 10 tempt
to sudden acquisitions by means as deIusive IN
their results, as :hey are contrary to prlma-
~ law OF the Author OF our being.
Thus, the real wealth Of community is,
in fact diminished in proportion 10 the tctI-
tious wealth occasioned by every undue IN
crease Of an artificial currency. Thee eX-
tremes, by their reciprocal action, Continue 10
diverge until the violated laws of production,
currency and trade, are indicated by a reac-
The remedy proposed ~ some in such
emergencies IS an increase OF bank paper,one
a: least Of the original cause of the evil
Bat, ii is evident, that this could but tempo
rariiy alleviate the disease, and would itself
be the potent cause ofits speedy return, IN a
shape still more aggravated and ilghttul. 4
few mav have derived advantage from such
condition o! affairs, by withdrawing them
selves from the vortex of speculation at a
fortunate moment. But the gains of such,
are as surely the losses of others; and we have
melancholy proof at length. Notwithstanding
the contrary assurances OF It's friends, that
such system cannot bat prove disastrous 10
the community whole. But disappoint-
,nent is not the only evil consequence of u
failure OK deceptive plans Tor relief. They
serve by encouraging false hopes to withdraw
attention from wha. is really feasible. They
tend 10 relax individual eXertlon. Nor are the
consequences referred 10 the worst evil found
in the train of false credit, and reckless spec
ulation. They are followed by violated faith,
want Of confidence, immortality, and crime.
As lovers of good order. and as patriots, zeal
Gus of our good name at home and abroad. we
should unitedly task our best energies for a
remedy for the past. and preventative for
the future. Notwithstanding the late sigcal
failure to secure promised return of pros
peritv. and while other projects as specous
as they are unsound, are, and doubtless
will continue to be plauslbly, and even ear
nestlv recommended. there remains remedy
plain. obvious, reliable, and within the
reach of all.
Ocr consumption having exceeded our il
come, the balance must be restored by a cor
responding excess of our receipts over our
expenses We have been lured to the embrace
OF debt under the flattering guse OF credit
and we can only be extricated by the join
aid OF industry and economy. Ne wouIc
again seek the ancient land marks OF trugallty
and republican simplicity from which too
many have unwitiingly strayed.
! Labor is the prime source of wealth in
State. No community can prosper withou
it. Commerce and trade. the business o
..hinh - only: o eSchanrra The nrnlrcts nL II.