The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-12-02

The Legislature of South Carolina convened on Mon
day, the 25h Of November, Columbia. The message
OF Governor Hammond delivered the 26.h land is
short sensible document The finances Of the state
appear to be in very favorable condition The income
the State from all during the past to
1906 s3i o.. Expenditures during the period
$347704 90, showing deficiency of S4os7a co. OF the
expenditures for the year. $50 70 have been applied
to the reduction Of the principal Of the public debts
leaving out this item and the receipts into the Trea
sury. exceed the expenditures $i5,60 49, The direct
taxes levied and collected for the use OF the State
amounted this year to SAT- 562 The Governor re-
commends the Legislature the adoption Of speedy and
effective measures for the payment of the public debt
which amounts to about So 100000 We take the
annexed extract from the message for the purpose OF
giving the Governors remarks this important
subject.
An act passed requiring the bank to provide for
the payment Of the instruments of the debt falling due on
dred and fifty dollars $3.50 OoO and to deliver
TO the Comptroller General to be cancelled the evidences
bred and fifteen thousand two hundred end seventy dol
lars tS4o27O) OF the evidences OF State debt held by
dred and sxyeght dollars s63 4ssl fell due in is4s and
$50 that the whole amount Of debt the liquidation OF
which was provided for by the act Of last session,
eight hundred aud one thousand eight hundred and
dollars (SSOl 8O2 about four hundred thousand per
annum for Two years am happy to say that the bank
and that he cancel four hundred and seventeen thou
sand and eight dollars and twenty nine (4i7 2
qured Of it and DO not doub, that i, will provide for
the punctu pay ment OF the instruments Of ISl5 and as
they become due
The Governor takes strong ground az ains the State
bank, and enters at length into tho evils that the exist
ence OF such an institution may entail upon the State
and every one within its limits The charter Of the
bank has twelve years to rum and it Is taken Tor
gtaped that its afars cannot be closed up ia less than
seVen without desoating the State and spreading bank
ruptcy and ruin in every direction just regard Tor
the safety and welfare Of the community requires that
eicient.measures shoud be taken to remove from it.
at tho earliest possible PERIOD an engine so dangerous
and obstructive.
The remarks OF the Governor in relation 10 the present
tariff act certainly Of very ordinary nature
He considers the compromise act treaty formed be
tween the bgerent parties-with arms in their hands,
solemny ratified by the federal government on the one
part and convention Of the State OF South Carolina on
the other The message farther says that by that treaty
South Carolina bound herself to submit for years to
an oppressive tariff provided that alter the expiration Of
It, no higher tariff should again be levied than ne
cessary to deiray the expenses Of economical admins
tation OF the government and that the Of duty should
III no emergency except in Of war; exceed twenty
per cent The Governor argues that repeal Of the pre-.
sent tariff act is beyond possibility and thai It devolyes
upon South Carolina to decide what course she will pur
in the premcsthat the period has arrived when she
no longer pursue her final decision and that the
State Is bound by her past history by the principles she
prof sses to adop. such measures will at an early
period bring all her moral constitutional and
ry physcal resources in direct array against policy
which has been checked hut by her nterpostion
The citizens of lowe, in convention, have adopted
Constitution prior to being admitted into the Union as