Eastern times. [volume] (Bath, Me.) 1846-1857, 1850-05-23

discourage this mode of investment-to impose
upon bank capital burdens from which capital
Otherwise invested is exempt would respect.
fully suggest the propriety of repeating the law
which imposes tax Of one per cent. on our
bank capital If banking be an honest business
useful and necessary, as it conceded to be. il
should be fairly treated by the government if
not, it should be dispensed with altogether
Besides, are not the advantages supposed to be
derived from the tax rather fanciful than real ,
The banks will endeavor to make their business
productive, and the tax which they are compel
led to pay to the State, they will assess upon
those who are obliged to do business with them;
in other words, upon the whole community
The tax, therefore, comes directly from the
pockets of the people, to be accumulated in the
treasury, and then to be refunded and distributed
among them in another form.
The same remarks are equally applicable to
the law, making it Imperative on the banks to
loan to the State for less than the regular rate
of interest Should it be thought that the f.
nancial exigencies of the State may render nee
essary the occasional exercise of this power,
sound policy, as well as the rules of fair deal
ing, would seem to require that the State should
pay what individuals are ny law compelled to
pay for a like accommodation.
The rapidly increasing influx of gold from
California, will probably soon supply us with
an abundance of the precious metals for all
necessary banking and business operations
May it not, then, be safe to relieve the banks,
to some extent from the restrictions imposed by
law upon their circulation Specie existing
among the people is likely to be quite as secure
for the redemption of bills, and for all purposes
of public safety, as it is where the law now re-
quires it 10 be.
For the last eight or ten years the value OF
our paper currency has been more uniform than
during any similar period since the foundation
of our government, and there has consequently
been greater security in all business operations.
| This fact goes far to show that our banking sys-
tenn has improved, and that our banks are well
managed.
have been unable to obtain the report of the
Inspectors and Warden of the State Prison for
the current year, and have, therefore, nothing
to communicate upon the affairs OF that insttu-
tion. My immediate predecessor, in his last
two annual messages, called the attention OF
the Legislature to the necessity CT such classi-
fcation of convicts as should remove the young
offender from assoclating with the hardened
criminal | too would commend the subject to
your consideration, and urge upon you its i'm
portance. To accomplish this object, 50 desira-
BILE, separate establishment, removed from all
connection, (even by association of ideas, as
far as practcable) with the State Prison, will
be indispensable. 1t should be one of the OBJ
jects of all punitive laws to reform the offender
and restore him TO society. But the retorma-
tion of the youthful criminal can hardly be ex-
pected when he is subjected for series OF years
to the influence Of experienced and accomplish
ed Williams, nor will society readily admit into
its bosom those whose moral nature has been
exposed to the malaria of the State Prison.
Experience shows that the conviction OF Ju-
venie offenders is with difficulty procured, even
when their guilt is apparent, and that the SYM
pathies of the executive are but too often ap-
! pealed to in their behalf.
! Retreats for juvenile offenders have been es-
| tabished in many of our sister States, and have
been productive of the happiest results.
! To the reports of the Trustees and Superin-
tendents of the Insane Hospital, can most con-
| fdenty refer You for every satisfactory lnforma-
| tion upon its condition. The remarks of the
! Superintendent upon the character and the ef-
fects of existing laws on the interests of this in
sttution and the cause of humanity as identified
with it, meet my hearty approval.
The Trustees, in their report, call for an APP
preparation for the erection of new wing to
accommodate females. | join with the IIus-
tees, urging its importance.
The Adjutant Generals department is highly
| deserving your attention. The question involv-
ed appears to be whether our Malitia system
shall be established upon the basis now fixed by
law, or altogether abandoned. For more full
information on this subject, and for some practi-
| cal suggestions, can most confidently refer you
TO his report.
1t is understood that the amount of our pub
| lie debt which is 10 become due in the course OF
the next year, is two hundred and sXty-two
thousand three hundred and fifty dollars, and it
is believed that the State tax of two hundred
thousand dollars, together with the money now
| in hand, the receipts of the Land Office and the
United States stock, will be nearly or quite suf-
ficient to extinguish this portion of the debt,
and to defray the ordinary expenses of the gov
ernment refer you to the report of the Treas
urer for detailed exhibition of the state of our
| finances.
1t will become your duty to elect an United
States Senator at the present session.
| i would urge upon you the necessity of dis
posing of this subject at the earliest period, as
a measure calculated to promote harmony and
expedite the important objects for which you are
assembled.
Pledging TO you, gentlemen, every effort
within my power and sphere of action, to aid
you in the discharge of your duties and nvok-
ing the spirit of all wisdom upon your deliber-
| ations, | wish you short, useful, and happy
session. JOHN HUBBARD.
COUNCIL CHAMBER,
Augusta, May, I3, 1850.