Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1855-12-07

among the mo-t productive und benefcIal i'm
provement- within the ACKNOWLEDGEMENTS
when the all important connection with the Cor
dansville ard Alexandria Road shall have been
completed
The message repeat. n former recommends
ton Of the Governor that direct communicate"
with Europe from the waters of Virginia shail be
established aud expresses the confident opinion
TINT when the lines If improvement now under
construction shall he completed. the trnde n; ih"
.pnboard will be amply sufficient TO support
line Of steamers.
The appointment Of State chemist is urgent
" recommended and the value of his services
represented at considerable length. A better
plan. we think. would he for each county Ia have
and maintain hy it,, own rvirs Ich officer
A single individual could do hut little for ex-
tended territory that of Virginia.
The condition of our -chools and colleges is
favorabfy referred To and the subject ofg"nern'
education commended to tbe attention of the
legislature Thi, topic j. disposed Of with the
| fllnwing recommendation, which our first i'm
precision favors
In 1921. the General Assembly recognized the
! clans OF the colleges. and passed an act deciar-
! ing that whenever the annual income of the
| literary fund shall exceed S6D.O00 the surplus
above that sum until such surplus shall amount
to 2O,0nl. shall be appropriated TO the endow
ment of such colleges. academies, or hierme-
! diote schools within The Commonwealth as the
! General Assembly may hereafter designate as ut
! institutions for such endowment" The receipts
| into the treasury TO tho credit of the literary
| fund for the last fiscal year we're upwards of
III 600 Would il nut he advisable 10 devote n
portion Of this sum To- aid such of the colleges III
! The State "a are not already endowed. They
i confrssedly contribute largely 10 the inte-
gence. wealth and power of the Commonwealth.
| and furnish large portion OF those who deyeioPe
! its resources, guard il honor and WELD IFS de-
! tiny Most at these institutions hive been es~
iabIished by private m0nfnence, by sabscrp
ton from the mass Of the prople and where they
have been enabled to accumulate sufficient
fund by such means to erect the necessary pud
! ings il aford- the best evidence that they are
demanded by the educational wants Of the PEG
pie who have thus contributed 10 sustain them
| Suppose then in addition - the erection of the.
! buildings, II should de required that when any
| Institution Of this character shall have raised II
fund by subscription Of not less than S50.OOO.
and invested the amount in state securities Mt
par and deposited these securities Ia be held BY
the literary fund, in ilusi for their benefit, thea.
in addition t. the interest arising from the bonds,
an appropriation should be made from the liiera-
ry fund 10 such college, If an amount oqnal To
the interest If s25 .0OO. his would give Ia
each institution complying with these terms. an
endowment equal Ia s75.DOO. exclusive Of build
ing-, and would contribute greatly 10 Pine" it
upon n solid foundation. in.ufing its usefulness
ia all time. In like manner, when an hundred
Thousand dollars shnuli he raised aud invested.
the interest upon s5U. 900 might be appropriated.
And ia prevent too large drain from the litern-
nv fund. the maximum amount might he lImii pd
to such sum IA the General Assembly mig ht
deem rxprdlent.
A system Of free schools, supported by taxa
ton. i recommended, and we are informed. with
a strange use oftbe Presidents English, TINT
agriculture, the Mechanic nrts. philosophy,
navigation, commerce. aud all the imprortd mu
taiioas IN the condition and morals of mankind
have education their ground work The
charitable Institutions oil the State for the beae
cit Of the deaf dumb blind and unatc, are rep
resented a- successfully engaged in the perfor
nance Of their benign tasks. The pcnitentary
is also spoken "fand is condition reported.
The Governor recommends a reorganization
of the militia upon the old, or some other basis.
He makes an argument against banks, quoting
from the report # committee which investiga-
ted the causes at the Suspension, by many Of
principal reasons assigned in that report for the
suspension of the banks was the removal of The
deposits. After giving it, the Governor asks
may not reasonably expect that similar eau.
ses will produce similar results in future" Per-
haps so, bat we to expect similar causes'-
He does not expect the Legislature to conc ur
with him in his opposition 10 banks, would
he recommend 'an immediate radical change in
our system Of currcncy'-but he sugge SITS as an
alteration in tho system:
That all notes in circulation be made payable
ut the counter of the bunk from which they are
issued; that each stockh der he held personally
liable for the debts of the corporation to the
amount of his or her stocks respectively. | also
| recommend II prohibition of the issue or circula-
| ton after u specified time, of any bank note of
| less denomination than ten dollars BY making
| the measure prospective, gold and silver will
speedily supply the vacuum caused by the with
drawa of the prohibited bills. Like the act of
| the last session. to prevent the circulation OF
notes under five dollars the wholesome change
| will bo speedily and lmpcrccpiiblv affected and
thus, by wise aud gradual process, notes of
higher grade may be excluded, until, of no dis
tant day. the country have Tia benefit of "A sount
constitutional currency sufficient for all ordina
| ry dealings IA sure basis upon which To founs
bank issues and paper currency OF n hghe
grade, should the wants Of the community de
mand
The Governor does not see m 10 be aware tina
all notes are now payable at the counter q
the bank from which they are s'ued." The sug
gestion TO make each stockhold,r liable personal
ly to the amount of his or her sock for the debt
of the corporation is good one--and that to is
sue no bill of a less denomination than ten dol
| hoJ l.,