Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1852-01-15

OF the House of Representatives. of the
General Assembly:
FELLOW CITIZENS In the abundance of
our harvests, the universal health ofour people,
and the maintenance of peace, and individual
and social prosperity, are to be found new
motives of gratitude to the Father of Mercies,
who holds our destinies in his hands. That
grateful homage, the acknowledgement of
our dependence on his Almighty Will, it be-
becomes US most cheerfully to render.
Never, in the history of the Commonwealth,
has there been a period of more prosperous
tranquility. The citizens of the State, aside
from other sources of contentment, have at
last realized that cause Of disquiet, which
has for the last twenty-five years oppressed
them, is about to be removed. A beginning
has been made in the practical liquidation of
the public debt.
On the LIST of Dec. 1913, the amount
of the public debt was $40,S42,379 81
On the lst of Dec 1851, the amount
of the public debt was $40,l14,236 80
Thus within the last three years, there has
been effected reduction of upwards of seven
hundred thousand dollars of Indebtedness,
without impairing the efficiency of the public
works or retarding any plans of practical be-
nefcence, such as the Legislature, according
to policy Of wise economy, have thought
proper to authorize.
| do not hesitate to attribute this important
result to the successful operation Of the eff
cent and real sinking fund system, establish
ed by the act of the 10th April, A. D. 1S49'
The detailed transactions of the commission
ers of the fund will appear in their report, to
be submitted to the Legislature.
This system, copied in its leading features
from that which was established in the early
years of our history, for the extingutshment
of the national debt, has worked admirably.
While there can be no precipitated cancella
ton Of public securities, such as would de-
range and disturb our monetary relations,
neither can there be, under the present law,
any such accumulation of stocks in the hands
of the commissioners as to tempt or permit
the application Of the fund, under any accl-
dental emergency, to other purposes than
that for wich it is set apart. Pledged to the
payment of the public debt, it must be sacred
ly regarded. The creation of the fund, and
the adoption of the system of making no loans
unless provision for their liquidation be made
in the laws authorizing them, have already
exercised moral influence on public policy.
Like the protective system in national le-
gislation, though by another process, they
prevent the Representatives of the people
from headlessly incurring new debts; they
make the payment Of the public debt part
of the fixed policy of the State, which no one
will be willing to disavow or disturb; they
interfere with no extension of public improve
ments or expenditures for benefcent purposes
The first application of surplus revenue is to
pay portion of the State debt, the next to
extend and maintain such objects of public
improvements as will when completed, increase
actual revenue and diffuse the greatest good.
To maintain that system of financial policy,
which has for its object the gradual and GER
tain extinguishment of the public debt, is as
well the duty as it will be doubtless the ear
nest desire of the General Assembly.
Believing that the revenues of the Com
if properly guarded, are adequate
ly sufficient for both objects--the payment of
the debt and the completion of the public i'm
| again and earnestly, press on
the attention of the Legislature the claims of
that great section of State lying on the North
Branch of the Susquehanna. The North
Branch Canal ought to be finished without
further delay. Its completion would insure
increased revenue to the Treasury, and would
be simple act of justice to a large portion
of the people Interested in its construction.
The propriety of calling upon the National
Government for portion of public lands in
aid of the several great lines of railway COM
munication within our borders, is again sng-
gested and urged upon your favorable consid-
Grafton.
To the existing and completed Internal
improvements of the State, or rather to the
mode of their administration, invite special
attention. There is in it some radical defects
which need reformation. 1t is wanting in
proper checks, and the enforcement of proper
to secure which it is respect
fully urged upon the Legislature to make
such change as will authorise the election
of one Canal Commissioner by the people for
a term of three years, to whom shall be en-
trusted the whole supervision of the system,
and the selection by the Legislature of an
Engineer, to serve for similar term, to whom
shall be committed the duty of making the