Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1847-12-23
GOVERNORS MESSAGE.
To the General assembly g Vngalia:

GENTLEMEN:-Another year has passed
aud we are again convened 10 suggest, conSid
er and adopt such measures as, IN our JudS
,nent, will promote the prosperity and advance
the happiness Of oursbeloved Commonwealth.
1t is with unal.oyed satisfaction. that am
able to congratulate you upon the ausplcloas
circumstances under which we commence this
pleasant yet important duty. We are niess
ed with unusual health; our 'grahar1es were
'emptied during the past year to iced the staf
wing millions of foreign lands. but have AGAIN
been replenishe6 by Our recent abundant h'r-
vests; our revenues are ample; our laws are
firmly yet quietly enforced; our industry is
increasing her stores. and improving the
whole saspect of Our State; and all the arts
and comforts of civilized life are multiplying
among every class and condition OF the PEG
ole. 1t is under such circumstances that you
commence your career of official duty-c'r-
cumstances well calculated to stimulate your
..Saertions. and to hllyour hearts with cheer
&aess and l.ope.
q Onthe LIST day of October. 1916. the bal
affce in the Treasury was SIS. ,45j. After
meeting all demands upon the Treasury, ma
nv OF which were entirely contingent in char
sacter and of large amount, there was in the
Treasury a. the close Of the last fiscal year,
the sum Of Sl27,ll4 o.. This sum and the
ordinary receipts into the Treasury during
the present fiscal year, will pay all ordinary
demands thereon, including S274543 -,
the interest on the public debt, sos ,58l 6o,oh
account of the Southwestern and other pub
lie roads, and still have an estimated surplus
of about S 40, o00,a sum which it is presumed.
when appropriated, will enable the Board of
Public Works to meet all demands upon
them during the present fiscal year, without
resorting 40 loans-a resort which cannot be
too cautiously made, especially AS large rs
sue of State bonds was directed by the last
Legislature to be rnaaetn the Aiexandrla
Canal Company, and to the James River and
Kanawha Company.
The Legislature at their last session passed
vcts which may increase the liabilities OF the
State to the sum of s., 8e7 300. Of this sum
about one hft, has beer. and very large
portion OF the residue will have to be incurr
ed. In addition to this large amount, there
was paid from the treasury during the past
fiscal year S7a,6l4 81, and there will be pad
during tho present one under approPrla
items heretofore made. the sum OF Sss,osl
81, for and on account of roads and bridges
In this connection respectfully refer you to
abe second auditors report. in which you may
at a glance see the amount of oar existing
ana prospective hdOlttiSS. y" hSH ~ >''SSN
shall be added those which yeu may direct
at your present session, il is manifest that
moderate enlargement of our reveue may be
necessary to maintain our public credit, in
that high estimation in which it has tor years
been held.
1t has long been a mooted point whether
The living generation has ri ght to create
debt and leave it to posterity for payment
However this right mxy have been question
ed. it has ever been exercised; and certainly
obyectioms ca. be urged with less force to
that debt which may be incurred for internal
improvement than to any other in the whole
Hist of public expenditure. Debts thus crea
ted and invested, enhance the value OF prop
erty. They are expended without charge,
and confer lasting and perennial benefit on
those who succeed US. Still, the disposition
to .pend when we do not expect to pay, IS so
striking a characteristic in man. that hold 1t
to be our duty to interpose safe and healthy
restraints to control 1t.
England, after repeated but partial acts OF
repudaticn, is now grcaning under an enor-
nous debt of aboat four thousand millions OF
dollars France owes about one Thousand
millions and Austria, deeply embarrassed,
III 1911 repudated and expunged S4oo,ooo,
400 Of her debt, and in 1918 Sl50,00O,OOO
more of it. Although nothing exists in the
history of our Union, or of any one OF the
members thereof. at all approaching, even by
COMPARISON, this stupendous and mlsch'evous
nrodigality, yet enough has occurred to I'm
rress npon us the duty of observing the most
Guarded cirtnmspection and care.
II NAV safely be assumed. as the liked de
termination of Virginia to carry on those I'M
movements which are requisite to deveiope
and secure the resources and advantages LOT
which she is so remarkably distinguished. IL
;.a policy emnently patriotic and wise, and
addresses itself with force, not 20 be resist
ed, to that pride and affection which we all
60, for our native land, and which induce us
~ look forward with anxiety and hope, to
thot day when Virginia will be as physically
.a.t as size is now illustrous. for. all the
S;r,, moral and intellectual qualitses which
elevate and adorn our race.
W sunnort of these views, regard 1t as OF
.,,e greatest importance that you should es
tah,sh. at am early day of your session, max
;vnnm annual limit of expenditure, by winch
che second auditor shall be regulated and
controlled and which your appropriations
4 sh.II under no circumstances. transcend
Such a regulation would satisfy the prudent
~ t;md friends of internal Improvement.
silence some heretofore opposed to 1t, ano
GIVE confidence to all. am aware that the
Regulation suggested will not impose lega
restraint, even upon yourselves, and, O
course. not upon yonr successors; but l an
Tullv satisfied that the high moral obligation
Il will create will command general respect
and ensure for it scrupulous and honorable
what i the limit we shall prescribe, which
will neither unreasonaby burden ourselves
NOR our posterity, and yet accomplish within
reasonable time the great enterprise we
have in view!
have given to this subject the most care
Z FIJI consideration, and l have attained the
conclusion that we can and ought annually t
eynend. within the views l have presented
the sum Of SIX hundred thousand dollars
\ look to the. treasury for one moiety. ant
n loans for the other moiety of this amount.
The treasury can be easily put in condi
ton to meet this demand. AsI have before
stated. TIE probable surplus in the treasury
On he 1st Of October nexA will be Sl45.0 900
and hut for the appropriation to the South
z ,vestern road and other roads and bridges,
would he upwards Of $780, 900, leaving onl.
he sum Of $685. 900 to be provided by nes
d incfI