Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1846-01-15


reliance on the vigilance ofsuch officers.
1t may be, that the principle of individual la
blity for corporate engagements, which has re-
Gently been inserted IN some of our charters,
may, when properly extended and made more di-
rectly operative, secure not only the creditor from
loss, but the currency from dangerous huctua-
tions The experiment should be fairly made
in the case of every bank, that may ask a renew
al of its charter. Thatlits progress may be the
better tested, respectfully recommend that ths
banks be required to omake,monthly returns or their
condition to the Auditor General and that these
be so arranged, as to present more complete
and exact view of the transactions than is filrn-
shed under the existing law. This will facilitate
the future inquiries of the Legislature; ami the
periodical publication of the returns will secure
to such of the banks as are leritimatey admins
tered, the reward sof their flithfulness in the IN
creased confidence of the public | need scarcely
add, that the claims of the banks to general con-
fidence should be thoroughly investigated and
fully ascertaned before their charters are extend
ed.
The recommendations have special reference
to applications from existing banks In my
judgment the capital now invested in these inst.-
tutions, is amply adequate to the business wants
of the community The times do not Indicate
the present necessityof any additional stimulus to
the spirit of enterprise, and cannot allow myself
to hazard, by any act of mine, possable renewal
of the exceSseS which we have witnessed so re-
Gently
| Pennsylvania combines in an eminent Edegree
the three great elements of individual and nation
al W eath--egrculture, commerce and manu.ac-
lures; and the pursuits and industry of her pep
pie are proiitably divided among Them Her hills
and mountains are almost everywhere filled with
inexhaustible supplies of iron ore and mineral
coal; and her valles abound with water-p power for
propelling machinery, in the midst of the finest
agricultural regions. She has constructed at
great cost line of improvements by canals and
railways, connecting the waters of the Atlantic
with those of the great West: which not only
affords our own citizens cheap and convenient
mode of transporting their products to markets,
but also benefits the internal trade and commerce
of large portion the other States ofthe Union.
| The North and West Branch Canals, and the
! Delaware division, In connexion with various
improvements. owned by companies, besides OPEN
| ing markets to the productions of the farmer,
furnish outlets for coal and other minerals, by
which not only our own citizens supplied, but
also of the neighboring and Eastern States to the
! great advantage of both. Many parts of the
State are also found most favorably adapted to
the growing of Wool, another! great staple Of
National Independence; and the successful apPli-
| cation of mineral coal, to the smelling OF iron,
has given a new impetus among us, to this most
/ important of all branches of manufactures
! 1t is not surprising. therefore, that our people
feel deep anxiety in regard to the adoption or
the change of any policy, on the part of the fed
eral government, which may be supposed to affect
such great interests The regulation of a Tariff
on imports, so as to favor the development OF our
domestic resources, and give satisfaction to the
various parts of the Union, has long been vexed
and exciting question. It's influences for coed
or evil, have no doubt been greatly exaggerated
! in different sections Of the country. The true
policy of the Nation would seem to lie between
| the extremes of those, who claim high duties for
the mere purpose of protecting particular inter-
erts, and those who would not discriminate at
all. in LAYING revenue duties for the purpose Of
fayoring the productions and industry Of our own
country.
ANY course of policy which would have the
effect to check the intelligent and honest enter
prise of our citizens; and to retard the develop
ment of our national resources, can never receive
the sanction or acquiescence of the people OF this
confederacy 1t is readily conceded, that no
more moneys ought to be collected rom
imports, than are necessary to meet the consttu-
tional requirements of the. government economi-
cally administered.
But on the other hand, it is maintained with
entire confidence, that in laying duties for thus
purpose, such determinations for protection az
well as revenue, ought to be made, as Will fsvor
our own productions and industry, particularly Ia
reference to articles which are OF primary ma
tional Importance and indispensable IN time OF
war.
This policy was expressly avowed In the flrst
revenue law for levylng duties upon imports,
passed after the adoption of the federal constltu-
ton, and has been recognized and adhered to oy
the federal government, and sanctioned by the
neople of the States from that day TO the present.
unless indeed the COMPROMISE act OF 1859, be
! considered an exception; and it viii be adhered
to, so long as we have due regard to our inds-
vidual and national prosperity and Independence.
! tariff of discriminating duties, based on the
principles indicated, and so adjusted to secure
permanence in its provisions sustained in lts
protective effects by the operation of Constitu-
| tional Treasury in regulating the issues of our
banks and checking excessive importatlons OF
merchandise, will, it is believed, give more sta
bity to the general interests and business OF the
country, than any other system OF policy within
the control of the federal government
| / refer TO the reports of the Board OF Canal
Commissioners, for detail OF the proceedings
drring the past year, on the Public improvements
of the State. This document contains among
other things, a statement exhibiting the amount
| of tonnage that passed ovar those works during
the wear; which when compared with that OF
mast years, will show their increasing value II