Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1849-12-06
GOVERNORS MESSAGE.

Al late hour the Message Of thc Governor
was laid before the House, which Is as follows:
FELLOW Cdizeas ofHe
Senate and Hogy~ If Ds1cgq'cg:
lweleome You, with great pleasure. n The
capitol and offer Yen my congratulations opon
the condition IN which voa viii dna the general
interests OF the Commonwealth. NutWithstand-
ing the fears expressed by many lest the liberal
spirit evlnced IN the more recent legislation Of
'he State, touching the Improvement Of roads
and canals, would cmharrass our finances the re-
ports herewith transmit 10 You from the sever
al departments, will sheW that our condition Is
sound and prosperous. Indeed, there is every
thing IN 1t 10 vindioae the wisdom of the Leri@-
lature and to CRAFTY the friends Of dicious bun
liberal system oliuternal improvements II WILDE.
! am sure, gratifying 10 Won, and to The people at
large, to know that Virginia has at her COM
mand ample means 10 discharge all her suh>istlne
pubic debt, with the exception of A very small
and lnconslderabe sum. II il were thought de.
sirable Tomorrow TO wipe out the public debt. n
sale at par Of her profitable and intcrest-paying
stocks would effect il. This present sub,istinq
debt amounts 10 Ssh 29i11. The annual
interest and dividends received by the State
amounts TO $3.50, 1872 0S;shcWing that the stocks
yielding this sum are worth, al par. SHE, 200.
or about the amount of the public dcbt. that is
There Is, however, an additional sum Of SIS 600
900 which under existing laws. may be called
Tor out OF the treasury, and about s. 900 600 of
which will. tits thought, be certainly demanded
IN the course OF few years hence this sum. al
though not now a subsisting debt. will become
so, and ought, therefore to be taken into the cs-
Inmates OF our liabilities This view shcws the
precise condition of our financial situation. and
isfully sustained by the reports and documents
which will be laid before the Legislature. The
State II is true, has guaranteed loans, TO con-
siderable amount, for various incorporated com
panies, which securityshp some have regarded
part OF the public debt; but this Is unquestion-
AMY an error, for knowledge of the resources
ana the prospects of the companies, whose bonds
have been guaranteed, will satisfy all that they
are or will ultimately be, amply able 10 pay
Their bonds, as up to this time, they have always
done the interest on them
This exposition is a cheering one TO all but 10
none more so than Inc friends of internal inn
provements. for which the deo, has been mainly
created. However, whilst it shews tbc uerfect
capacity of the Commonwealth to MANAGE he,
present debt without inconvenience it also sbews
the necessity of the greatest prudence and cir
cumspecton on the part of the Legislature l.
avoid such increase of our indebtedness a. ma,
result IN future embarrassment and additions
taxation. Nothing ought to be more cautiousl,
avoided or earnestly deprecated by the advocate
OF the recent liberal system Improvement thai
such result. | would recommend. therefore
that, except such sums as are necessary to carr
on the great works already begun, or such as ar
essentially necessary to contribute 10 their sue
cess and profit, no farther appropriation Shout
DC made Tor the present out of the treasury.
make tins Recommendation with the greater cor