Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1856-01-10
Executive DEPARTMEYT, }
Jefferson City, December 10, 1855. !

Ndte. "
EXECUTIVE DEPARTMENT.,
Jefferson City, December 10, 1855.
Gentlemen ofthe Scaate:-
An act has been placed IN my hands, for
my assent or dissent, which originated in
the Senate, entitled, ".4n .Act 10 insure tile
Completion Of certain Railroads in this
Tate," and which has passed both Houses
of the General Assembly, by the votes of
a majority Of all the members present. Du-
ring the pendency of this bill, l have stu
died its provisions with the most anxious
solicitude. The public works TO which it
relates, and the interests dependent upon,
or interviewer with them, involve the pros
perity of the State at large, and bear di-
rectly upon the welfare Of each and all of
our citizens. Their importance cannot be
the Importance of so lcgislaing respecting
them, as 10 secure their completion consist
emily with the rights, the will, and the ind-
vidual interests Of our citizens, and the
character of our State. The first inquiry
naturally awakened in delberating upon
| this measure. is-will it cause the compile
! ton Of the roads? and the next is-will il
secure their completion, consistently with
orr duties TO the people and their interests?
( In both aspects, l have given it the matu-
| rest and most careful consideration, and
regret TO be compelled, by a sense of duty
! 10 say, that in neither respect will it, in my
! Judgment, effect the end designed. I, there
fore, in obedience TO the Constitution, re-
turn it to you, with the objections which
have governed my conduct.
In the Message which had the honor to
lay before the General Assembly, on the
9TH ult., said-"It is my opinion that four
considerations should be kept steadily in
view, in all our legislation hereafter, re-
specting these roads-"5ood firth TO the
bond-holdrs-good .faM 10 The people Of
.Mssori--the security Of Tie Soic Trsasu-
ri, and The completion Of Tie roads" In my
Judgment, the bill presented to me does not
fulfill any of these conditions and unless
they are fulfilled, l have no confidence that
any legislation will preserve our credit
give satisfaction 10 the people-save the
treasury from insolvency, or complete the
railroads.
The specific security TO the present bond
holders, held by the State in trust for them
in the form of first mortgage, will not
perhaps, be materially affected by the meas,
ure under consideration but the extension
of the same security in favor of future pur'
chasers of bonds, the amount of the bond,
contemplated, and the terms and conditions
of their issue, together with the provision:
for the payment of interest and principal
are calculated 10 awaken well.iounded .p,
: prehenSons, that the State itself vii, not be
able TO meet The contingency Of a failure ol
, the roads TO discharge the liabilities already
incurred. In point Of fact, presume NJ
one doubts that the ultimate security of tn,
present bond-holders would not be as Ger
tain, after the enactment of this bill, as il il
, now. To this extent, therefore, the act i
not consistent with good faith; and OIL
character, as a State, should be at all times
above rcproach, or even suspicion.
y AT the time the present railroad system
was adopted, and from that time until near
" the commencement Of the present ses
e sion, the people have received continued
and confident assurances of its success.
has been lauded, and, in my opinion, justly
IS as the wisest combination ever adopted i
this country, between public credit and pri
vate ente, Use. In some of its details
70 was, of course, defective, but in its essen
L tial features it was prudent, safe, SCUM
i and efficient. Experience has abundant
sanctioned its wisdom, and evinced the So
: gacity Of its founders. The people hay
rs been satisfied with it, because they antic
e. pated important advantages from it, to b
"a reaped without burdcnsome taxation or daI
Q, ger to the public credit. The approval
a the bill under consideration, would brir
IN upon the people, without first consultir
Us vs. them, burtherns and hazards which the
have never anticipated There is no egi
latlye power so strictly guardedhy the Coz