The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1845-01-18

To the Senate and H0uSe 0I representa-
iivss of ihe Commonwealth Of Pen"
sy'vania.
FELLOW CITIZENS The term tc
which my eligibility as The Chief Exc
cu,ive officer of the Commonwealth, a,
restricted by the Constitution, being a.
bout 10 close, | subni, 10 the Leglsla.
ture, the last ANIMAL message which the
duty of my station enjons upon me. |"
the performance Of this du'y, | cannot
refrain from invoking your devout ac-
acknowledgements, with my owo, to the
Great Author Of All Good, for His con.
stanl care and guardianship over The in
ieresls and welfare Of our beloved Com.
monweaIth. Upheld by His pa;erna
arm, we have been rescued from the
most distressing embarrassment and
difficulties TO which, in time of peace,
any people were ever sub ~c'ed. Good
has sprung ou, Of evll--saiery from dan
s4r-wisdom from foIly-and justice
from spirit OF ungeneIous deIrac'lon.
The clouds iha, for several years past,
have hung upon our horzpo, are break
ing away; and the sunshine ot prosperi-
~ once more begins 10 beam upon our
path.
Within ten days after my induction
into Office, | felt myself called upon, by
the highest considerations Of dury, 10
communicate TO the Legislature, full
aud frank exposition Of the state of our
pecuoiory affairs. Upon a careful ex
animation, it was ascerlaioed that the
amount Of the puhIic debt, incluIing
snrplu, revenue from The United States,
was little upwards Of thirty millions
of dollars, and the drticil in the Treasu-
~ during the year 1889, beyond the
lncome from all sources, was about four
millions Of dollars. To meet this a.
mount, immediate provision had TO be
made, and, 10 add 10 tie perpleXing EN-
barrassments, the great commercial con
vulsion, which has since reached its
he ghl, was then just beginning to be
felt in lis operation. For more than len
years Immediately preceding that peli.
cd, the STATE of Pennsylvania, from her
well known punctuality and great na,u.
raj resources, had experienced no diff
Guilty in procuring upon loans, on favor
able terms, any amount of money she
needed, 10 extend aud carry on her stu
pendous system Of internal improve
ments Both Foreign and American
capitalists were competitors for the ac
ceprance Of her looms; and there seemed
10 be no limits 10 her credit and resour-
ces, except those which hel own diScre-
ton imposed. She made large loans ior
the undertaking aud completion of her
various lines OF Improvement, and paid
the interest upon these loans by other
loans. Stimulated by these facilities,
and forgetting The day ever would arrive
when her interest mus; be pad, not by
loans, but by taXhlon, system of i'm
provemenl>, by railroad and canal; was
undertaken, Tar more comprehensive
than her necessities required, and far
beyond her means 10 complete. The
same reckless spirit which acDuated the
governmenth had seized upon her private
cnizaus, and induced them to engage il
undertaking. equally indiscreet and un.
atainsbe. Within very few year
Immediately preceding 'he commence
menr Of my administration, banks were
created 10 an extent, and with capital
unheard Of in this Commonwealth at any
former period. These banks, controlled
by men moved by such impulses, very
speedily exploded, ,and,as every rl,iona
man ought 10 have loreseeo, ,overwhelm
81, in their downiaIl the entire buSi
IA. # the immunity. Within abgu