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

llNO DGdIs dlltl tH'SItu upOh WV VIZ
charge Of the Executive functions, bank
the aggregate capital of which amounted
10 more than lwo-hrds OF the entire
banking capital Of the State, and furnish
ing more than that proportion of It's cur
rsncy, were compelled TO wind up then
affairs; and, in doing so, not on y exlin
guishtd this amount Of the oslensibl,
capital Of the State, but crippled The re
mainiog banks, compelled Them 10 will
hold facilities from The business men o
The community, and, by forcing their
debtors, constituting large class of mel
Engaged in various pursuits Of life, lc
discharge their liabilities, almost crushed
The large aud nourishing class of bust
nrss men in all parts Of The Common.
wealth. To add still farther TO lhes'
Iperplexug evils; The condition If tn
Ipecuniary affairs Of Eu ope b,cd Ae al
most as deeply embarrassed as oar own
md foreign capitalists, who had sough
for oppoItunitlcsto to make investments il
his country, were induced TO withhold
their usual loans.
DuIlog a short period previous 10 my
en'ering upon The duties of my Office
our internal improvement system, con
IessedIy incomplete, was very largeI,
Extended by making appropriations 10
wards the construction of The North and
West Branch and Erie Extensions, WIS
consco Canal, Allegheny Feeder and
Gettysburg Railroad, besides guarantee,
ing The interest upon loans made TO pri-
vate companies, engaged in the con.
s'ruclIon o! works leading into the i'm.
provements of the State. The amount
which has been paid by the State for
these and other improvements, which
are wholly unp:oduc'ive, is nearly nine
Of dollars.
The most Strenuous exei tons were re.
qulred 10 obtain, during the first two
years, sufficient amonnl of money to
pay tSe interest upon the State debt
deiray the expenses Of The government;
aud TO pay of the large class Of domestic
creditors, naturally and justly cIamorou,
for the discharge of their demands upon
he Safe. Rigid economy was recon
and enforced in all the pubIl,
expenditures. The extended lines Of
improvement, which might have been
completed few years earlier by loans,
we're suspended in consequence Of tn,
liability Of the SAFE 10 raise the neces
'ary iundsj and finally the interest upon
he public debt failed 10 be paid from
he same cause, and The want OF time
requisite to mature plan Of taxation
which would produce the Unnecessary sum
for that object No, a single dollar has
been appropriated, or paid, under my
administration, towards the commence
ment Of any new work whatever. The
state OF affairs was such, at It's outset, as
10 forbid any such undertaking. how.
s'N' ''OIIOHS ~ ilcCIli duu UdFtI
'rrICtl Y adhered 10 this rule Of conducl.
Shortly after assumed The Executive
IutIes Of the Stale, became satisfied
that procrastiusliOn OF the evil day,
whep resort 10 taxation was demanded
by the most imperative obligation Of
Of duty, could no longer be iudulged.
Painful as was the aternaiive,l felt how
deep y the honor Of the State was in.
Volved, and recommended the imposi
ton Of a tax, which should supply an
td'quate sum TO discharge the interest
m the public debt, committing the de
tails to The Legislature. The recommen.
lalicn | reiterated, in The most earnest
manner, and Ultimately it received the
sanction Of the Legislature.
The assessment under the several laws.
imposing tax on real aud personal pro.
perty, and the amount paid into the Trea-
sury, as follows:
Am'nt lor tax as