Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-10-15

MESSAGE OF THE GOVERNOR OF PrsNsyL-
vAsrA.--The Message of Governor Pol
lock TO the Pennsylvania Legislature, after
stating the reasons inducing him 10 call the
body together, makes the following recomen-
dations:
The general embarrassment and depres
sion Of trade and commerce, and the conse-
quent depreciation Of the value Of real and
personal property, if permitted 10 continue,
will seriously affect the revenues of the
Commonwealth. The credit of the State,
now so well sustained and so honorable 10
her character, may be endangered, not by
any inability to pay, but from the difficulty
If not the impossibilty, of procuring a me-
dium in which payment can be made.
The faith Of the State must be preserved
intact. / therefore recommend that the
Banks which may be relieved from the pen
allies upon such suspension by existing
laws, shall be required 10 make a satisfac-
tory arrangement with the State Treasurer,
| by which he will be enabled to convert the
current funds in the Treasury and balances
standing TO his credit in any Of the solvent
banks OF the Commonwealth into specie as
soon as the same shall become necessary for
the payment Of the interest on the funded
debt. And as further relief TO the COM
munity, and as condition of release of the
penalties and forfeitures incurred, it is res
pectlully recommended that the solvent
Banks of the Commonwealth which paid
specie for all their liabilities Immediately
prior TO their late general suspension, shall
be requied, (under such limitations and re-
strictions as may be deemed expedient,) to
receive the notes Of each other continuing
solvent, at par, in payment of all debts
due, or to become due 10 them respectively
during the suspension; the bank or banks
resuming specie payments 10 be relieved
from this condition.
For the relief of the debtors provisions
should be made for an extension Of the time
in which execution on judgments may is
sue, and the period now provided by law
for the stay of execution.
The issue of relief or bank notes of a
less denomination than five dollars should
not now be authorized, nor should the banks
clare dividends exceeding 6 per cent. per
annum. lie monleu INSTITUTIONS OF Tue
commonwealth, it is believed are generally
in sound and solvent condition, and if the
measures suggested be adopled the banks
will be enabled to meet all their liabilities,
supply currency adequate to the demands
of legitimate trade and the ordinary bust
ness of life, regain public confidence, aid
and revive every branch of industry, and
save their creditors and the community
from the bankruptcy and ruin inevitably
consequent on the intense pressure Of the
present financial crisis.
The questions submitted for your deter
mination are important and momentous.-
They rise far above all partizan or political
considerations or calculations. A suffering
community In The hour Of their anxiety and
peril expect at your hands prompt and pa
iriotic action for their relief. Influenced
by no other consideration than the public
good, prompted by no other than honest and
honorable convictions Of a public and pri.
vate duty, may the result of your delibera-
tions meet the expectations, relieve the
wants and harmonize with the true interest
of the people.
JAMES POLLOCK.