Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1849-01-11

mn interest of the State should not be furthe
Lurdened. The State, county, school, road ant
,oor rates. levied upon land, and the reduce,
,r;ce of the products of the agrculturalist, occa
ir;oned by the present revenue laws of the nation
Il Government, operating to the injury of the
nome market, should justly and equitably relieve
# from additional taxation.
For many years no settlement of the accounts
or the Commissioners of the Internal Improve
mont fund has been made. 1t is worthy OF con-
Sideration, whether a commission to consist OF
= Clerk from the Auditor Generals and the State
Ionartment, with a third to be appointed, author
;no5 10 make an examination of said account; as
aIso TO ascertain precisely the condition of the
,reasury and its dlsbursing agents, what moneys
oro due to the State from corporations, lndlvidu-
ois and counties, and if balances are found to sX-
- me reason why collections are delayed: might
n,t bv a careful report, suggest alterations ben
,tcigi IN the manner of conducting our financial
Affairs In this conneXion it is also proper TO
mention, that a change in the manner of drawing
money from the Treasury should be adopted TO
afford more ample checks; the present system be-
INC deemed defective.
The Report of the Canal Commissioners will
enable tie legislature to form an accurate Jedg-
ment of the state of the pualc improvements
Notw. tastanbing serious Interruptions, caused by
the destruction of the Freeport AQueduct, AMI
other casualties, the revenue from this source has
been 81 large, and 50 constantly increasing, that
these works should be 50 carefully guarded and
presc9ved as means useful to the citizens, high
~ advantageous to the. State. In referring To
the internal Improvements of the State, cannot
allow the opportunity to pass without alludmg to
the North Branch Canal. 1t is supposed that a
million OF dollars would complete this work, at
present prohtless and rapidly going to ruin. Al
ready has the State expended upwards of two
millions, which, while it rcmains unfinished, is
absolutely lost. The country through which this
Improvement passes, is rich in the articles of coal
and iron, and in agricultural products Its COM
pletol by the increased amount of tolls received
on it, and the additional freight thrown on tlc
other portions of the public improvements would
amply secure the interest on the cost OF Its COM
pletion. Under deep sense of the correctness
Of these views | could not avoid bringing the
subject to Your early consideration. In this re-
lation it is proper to refer to the importance of
avoiding the Schuylkill inclined plane. Surveys
and estimates by skiltul engineer have been
made Of three different routes and the results
viii be laid before you in the report of the gen.
temen to whom was entrusted the duty 1t is
cluded in the estimated expenditures of the cur
rent wear, as given in a former part Of the mes
sage.
The attention of the Legislature viii be called
to the subject of the currency IN connection with
the Banking institutions Of the State. These
institutions have become so intimately Unidentified
with the business and interests Of the citizens,
ani furnish such portion Of the circulating me-
dun, that a necessity is created for their pro-
per management and control. The standard of
the value Of things among civilized nations Is
conceded to the precious metals. The constitu-
tional currency of this government Is gold and
silver. Whenever the conveniences Of trade and
business, the encouragement Of industry and
enterprise, or the natural growth and develop
ments of the country require additional conner
cal facilities, it is the duty OF the puclic fnnc-
I onaries to he watchful that the representatives
Of the precious metals should maintain the stand
ard value. The citizen having in possession a
nctc issued by a Bank of the Commonwealth,
sacull be secure that he holds the equivalent of
rold and silver. In order to obtain this result
rge should be taken by the Legislature in the
rants Of authority to these corporations, to
prevent them, if possible, from furnishing less
'aiilble currency. Banking institutions have
properly restricted, and juliciously managed,
Hghly conductive to the best interests of the
7aople. Their notes. when kept at par value,
I'm more convenient currency than the pre-
1Cus metals; are equally valuable in all fnan-
al concerns, and promote the active industry
i the country. Hence, solvent banks, whose
lotes are readily convertible into specie, should
" sustained by the Legislature, while those who
n fhnlr af mar fO rode
"a demand, by inficting injury and injustice on
ne community, destroy confidence, and forfeit
,r favorable consideration.
In Judging of the amount of banking capital
for the wants of the community, a
ound and healthful state of business and trade
lord the best and safest criterion. These In
ltutlons are better able to meet their liabilities
nd redeem their notes, In a state Of things such
: is here alluded to, than during extraordinary
preston, or unnatural excitement That the
{ lease of banking facilities is instrumental in
lev 10 the country in times of commercial dis
ess, is 4 belief as prevalent as it is unsound-
NAV ostrone the crisis. but cannot afford re-
ef The act. We healthful industry of the coun-
Y. and not the wants of individuals, should 90
sm the issues of the banks. In periods of great
numerical and manufacturing prosperity an in
fation Of the currency beyond the wants of /
und, wholesome trade, leads to unwlse, and
ten ruinous speculation. II short, the amount
the circulating medium should depend on the
'tual and not the imaginary WANT of the coun-
y. From tdese observations, the Legislature
ll readily perceive that any extraordl nary IN
ease banking capital, in the present dep -essed
milton Of trade is not consistent with my views
the general welfare.
The location of a bank, as near as practicable
tle centre of It's business operations, is mat
n OF some moment to the community. aad SHOULD
e legislature in its examination of the appllca-
lnS for the re-charter Of any institution now