Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1853-01-13

gentlemen who at present discharge the
troublesome duties appertaining to the
office of Canal Commissioner nor can
any good result from discussion of the
policy which has heretofore governed the
Pennsylvania railroad company.
As citizen, and as a public officer,
have ever felt deep interest in the sue
cess of the great enterprise commenced
by this company, and have inclined to fa-
cilitate its objects SO far as they may be
consistent with the interest of the State
This corporation should be allowed to en-
JOY its legitimate rights without being
permitted to infringe those of the State
1t is cause of regret that feelings should
have been excited, calculated to lead to
an unnecessary rivalry between the main
line of the State Improvements and the
Pennsylvania railroad. These avenues of
communication between the east and the
west should be made to move in harmo-
ny, so far as that may be practicable
They will doubtless be competitors for
certain kinds of tonnage, but in the main
under proper regulations, the conflict
could not be very injurious to either
The railroad, with single track, cannot
have the capacity to transport more than
one-half the tonnage destined from the
west to the east, nor is the State line a.
dapted to that branch of business most
desired by the railroad. l can see no
reason why one of these great improve
ments should be so controlled as to de-
stroy the other. In all their elements,
their objects and consequences, they are
both eminently Pennsylvania, and should
it seems to me, be so controlled as to pro-
mote the trade, commerce and general
prosperity of the State.
The interest which the State has in the
receipts from this branch of her improve
ments should be guarded with jealous
care in doing this, however, we should
not forget that this is not the only interest
involved-that those of trade and COM
merce, are quite as important for the peo-
pie. \ policy looking exclusively to the
former of these considerations, might
measurably destroy both interests. We
can have no income for the Golfers of the
government without trade and tonnage
We may have the latter without the for
mcr. Our efforts should be TO secure
) both If the force of competition from
foreign rivals should defeat US in this, we
should then yield much of the revenue to
save the trade, rather than lose both. !
am not inclined to excite alarm in refer
ence to the success Of the State line. |
believe that it will continue, under the
worst circumstances anticipated, to re-
ceive fair share of the through and To-
cal tonnage. What is most to be desired
is, that the facilities possessed by those
great artificial highways shall be united,
as far as possible, to counteract the iufu-
ence of their rivals outside of the State
The exercise of wise discretion, such as
I. should, and doubtless will, govern the ac-
tion of those intrusted with the control Of
this subject, may, it is hoped, lead to the
attainment. of this desirable end.
!, There are still in circulation about six
hundred thousand dollars of the relief is
sues, considerable portion of which have
,, become so defaced and ragged as to rem
der their future use almost impracticable
About S250,000 of the old notes were
cancelled at the Treasury during the past
year, under the provisions of the act oi
the 10Th April, 1849, and like amount
of new notes issued by certain banks, fol
which the State paid these institutions
two per cent. The efficiency of the law
of 1850, prohibiting the circulation ofthe
; small issues of other States, has beer
greatly weakened by the continued use ot
the relief issues under the denomination
) of five dollars. The presence of these
notes familiarizes the people to the use oi
small paper, and prevents the circulation
of coin; whilst the officers of the law, in
many instances, make this pretext to G.
,. wade the duty of scrutinizing this curren-
cy. The law of 1850 never will, | fear,
be thoroughly vindicated so long as this
deprecated paper is permitted to supply
the channels of circulation. To remedy
this evil, three modes have suggested
|, themselves to my mind. The first is
to allow all holders of these notes to con-
vert them into State bonds, bearing rate
of interest not exceeding four per cent,
in sums of not less than one thousand
! dollars. The second is-to apply the
means of the Sinking Fund to their can
collation.. These notes are as much a
debt against the State as are her bonds,
and it would be the legitimate work Of
, this fund, to take them out of existence
The third is-to apply to this purpose, all
the premiums that may be received from
farther conversion of the present debt
into new coupon bonds, as suggested in
another part of this communication
Should the latter idea meet your appro-
baton, the Sinking Fund can be made
, the instrument of performing the practi'