The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-01-21

democratic State paper and regret the pressure upon
our columns has BEEN and continues to be, such as TO
preclude us from laying II before readers entire As
49, we cannot let ii pass longer without giving them
the following extracts
On the war with Mexico the Governor thus speaks;
Although peace aud tranquility have reigned within
he borders Of this State we are identified with, and deep
engageda war which the prudence orbearance, and
desire of the people to retain friendly relations, could not
avert; and which was eventually forced upon u.s. by the
duty that rests upon every weregulaed government TO
protect the rights OF its citizens and honor Of
Our religion, interests, and our institutions are es
sentaly peaceful. The people hold in their hands the
sovereignty OF the nation, and rulers ODE
dence their will BY their controlling influence they
amcable relations with all other nations BY them the
rights OF American citizens in all parts OF the world, and
national rights and national honor appeal to the justice and
invoke the OF the whole people for their vndcaton
The war of 1872 with England, and the existing with
Mexico, illustrations Of this distinguishing feature in
the character of the American people Patient of injury
turn amicabe relations upon equitable principles
be entertained, yet no nation may with impnniy violate
The obligations of treaties break faith with the United
States.
In defence of these just rights the power of this people
army springs into existence by conscpons
tracts for ensments bu, by the voluntary impulse of indie
ward deeds of heroic vaor by appreciation the
whole nation. This nvncibe spirit guided by the science
one victory another, and from one great triumph to
greater and will lead them still onward until permanent
and honorable Is secured. While the honest pride
ofevery American is gIated by the achievements OF
our soldiers his confidence in our free institutions and in
the defend and preserve them is strengthened.
In the support and prosecution OF the war in which
and nn5rm fidelity to liberty and the honor OF the nation
Her volunteers among the first tender their services,
she military Hs fame Of the commonwea by deeds Of ro
mantle chvay and noble daring In these great achieve
The of the winds Of heaven, passing through the
on Their are rseehoed by the signs Of
The general prosperity OF the State, the Governor rep
esents most fourshng condition. OF its finances
he says in conclusion:
1t may be safely assumed, that we have reached
enues of the commonwealth exceed annually, the
on the public debt, and the ordinary demands upon the
treasury, by at least half million of dollars And this
cess confidently believed, may by udicous revision
and amendment OF the revenue awsa prudent and eco
departments of the government and the faithful manage
to one p"D dollars as sinking fund.- without ms
creasng the burdens of those who pay their taxes
This sum applied semannuay, with its accrung interest,
to the redemption OF the five per cent State stocks par,
thousand dollars Of the debt twelve years. and reduce
it, at the end OF that time, 10 twenty-hree millions 1t
celled by the year Thousand eight hundred and fifty;
and if the operations of tho sinking fund then
will be realized in the year thousand eight hundred
sxtytwo; which time, there good be-
eve the nett income from the public works will be
than sufficient to pay the interest the balance OF the
public debt and thereby relieve the people from all further
direct taxation for this purpose.
The Governor for years State superintendent
of the schools, and still watches over them
The report of the superintendent of schools ex-
hbits full view of the progress and steady advancement
which is dInsing its blessings The rising generation and
strengthens all our free institutions; The man who loves
plaon than this universal provision for the education all
with knowledge and power and fitting them for maintain
ing the rank and dignity Of ireemen The perfection Of
will secure the early and continued attention oihe general
assembly.
To the good effects of the tariff OF 1885, and of the indie
pendent treasury, he pays just tribute But it to his
remarks banks and corporations would especially
call the attention of the democracy Of every State in the
| Union. They from one who, for long series of
years, has watched the progress and effects of the sys-
tens he discusses
There good believe that the prosperity of the
with agricultural interests, has been promoted by the
removal, the of the British government high
ductons, and the modification own tariff by which
the commercial exchanges of the two have been
greatly augmented, without affecting njurously far
am informed any of the great manufacturing interests
other industrial pursuits of our people.
Other causes, in combination with those alluded to- have
produced large influx OF specie into the United States
during the past yeat which has gone into active creua-
the banks This increase Of the precious metals, while
currency has tendency TO increase it, by enlaging the
of the banks extend their issues. The
which, II encouraged VIII speculation and
over-action department of business,
the substantial prosperity of the people the
of producing adversely and depression The operations
the constitutional treasury have had, and doubt will
to have, most sautay influence restraining
tendency banking by keeping the public
revenues out of the vaults of the banks and compelling
be prepared to redeem their notes furnish
cie the OF those who have customs and other
Dues pay 10 the government
Although the restraining influence of this great
upon the banking system most beneficial still it does
with the necessity of caution and prudence the
part of the States in everything pertaining banking and
paper circulation.
| Moderate discriminating duties with sound currency
limited the specie standard may be regarded the
ural and healthy condition Of country by which the us
rewards of labor secured and all the great
the people advanced while high duties and redundant
paper currency operate unnatural smuants and
| apparent but delusive prosperity.
Nothing contribute much to the maintenance of
prosperity sound currency. Pennsylvania
rich in productions OF almost every description required
by the wants OF mankind and nothing
make her people the most independent the world but
proper regard for her interests To advance these
she be seduced from her devotion to sound prn
cples by the artificial of false economists
whose selfish theories delusive they are destruc
tive of the public good.
The present is most propitious period when there /.
an abundance of gold and silver the country to make
determined effort increase its circulation and secure to
the people the cureLcy which the wisdom of the trainers
OF the constitution OF the United States provided Instead
of creating banks or the caDita Of old
one efforts should be directed to secure the sovency
of those which already exist and thereby render their cir
| culation sound and reliable
Impressed with the force of these consde raons am
convinced that the of the banking
State would be unwise and impoltc and respectfully
recommend that before any of the existing Is
chartered, searching scrutiny be instituted its
fasits Management, credit and its means and If
be found that the notes have been suffered deprecae
4 H. al. ..l,t,.. H.