Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1853-01-14
The Governors Message.

The Governors Message.
The annual message Of Gov. Bigler is
a business-like document. 1t opens with
congratulations with the prosperity Of the
State and nation, aud the blessing Of a
representative democracy, as evinced in
the late Presidential election, accomplish
ing peaceful revolution, cheerfully sub
United to by the minority, and magnani-
mously enjoyed by the majority. 1t then
proceeds to examine the fiscal affairs Of the
State, reports the success of the $3.50, 600
loan for completing the North Branch Ca
nal, and the progress in five million loan,
to be applied to the payment Of six per
cent. loans, payable after 1867, the can
collation. of certificates issued to domestic
creditors, outstanding interests and the ex
tinguishment Of the outstanding FIVE per
cents. The progress Of the mission of
Col. McCahcn to Europe, to convert the
FIVE per cent loans into new coupon four
per cts, is fully detailed, aud the Govern
or recommends the passage of law au-
thorizing the cancellation Of the old five
per cent. bonds by the creation Of new
ones, free Of taxation, with coupons at
tached, bearing less rate Of interest, or
bonds bearing five per cent, on which not
less than 81 per cent. Of cash premium
shall be paid, as he believes the State can
thus savo large amsunt Of money, can
eel all her present bonds, and avoid the
trouble and expense af keeping loan books
and transferring her stocks. The opera
,ious of the Sinking Fund are also detailed.
A considerable portion Of the State stock
purchased for this Fund was not delivered
at the Treasury until after the close Of the
fiscal year, and hence this investment is
not stated in the Auditor Generals Report.
The financial condition Of the Stare
and the revenue from the public works,
stated in the message, are familiar to our
readers from previous articles published in
these columns. To compete with rival
routes, economy and energy are RECON-
mendsd, to prevent failures Of connection,
interruption by breaks, to secure increased
tonnage, and abolish all useless Offices and
expenditures. The law of last session
providing cash payments for work and ma
terials on the public works has operated
benefcially, though its efficiency has been
impaired by deficiency in appropriations.
The Columbia Railroad has increased its
profits under the energetic Superintendent,
ia whom the Governor pays nigh COM
plimeut.
The views Of the Governor as to avoid
ing the planes, completing the North
Branch Canal, and rc-layiug the north Co
lumbia Railroad track, given in formal
special message are reiterated and pressed
upon the Legislature. After these are
completed be thinks he thinks the State
should abandon the policy of constructing
improvements, as the circumstances that
made it wise for the State to participate in
such work, have passed away, individual
capital having carried out every feasible
scheme of this kind. With present I'M
pressions he will resist the process Of any
new project of this character. The Gov
ernor regrets the controversy between the
Canal Board and the Pennsylvania Rail
road Company, and hopes the rivalry be-
tween the State line and the incorporated
road, may be directed to an united effort
to counteract the influence of rivals out
side our State.
The Governor suggests a speedy cancel
lation of the Relief notes, of which about
5000, 900 are now in circulation, by allow
ing their conversion into per cent bonds,
to pay them from the Sinking Fund, or TO
apply to their liquidation all premiums
received from the conversion Of present
stocks in new coupon bonds. He thinks
the aggregate amount OF State currency
sufficient for all legitimate business purpo-
ses, and considers any increase Of paper
circulation unwiss as the present upward
tendency of our market is the consequence
Of the abundance of money, advancing
nominal values to an unnatural elevation.
This state of things is attributed in part to
the influx Of gold, which has chespened
the standard of real value To meet the
increase of specie circulation, he suggests
the removal Of all five dollar bills. This
part Of the Governors message must be
read in full to be understood; it can not
be abbreviated without impairing the force
and doing injustice to bis arguments.
Special legislation is deprecated strong.
.ly in the message, and remedies urged