New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-16
COY. MOREHEAD'S MgSSAGE.

The retiring Governor Of Kentucky commences his
Message By lsuent;ng the commercial crisis ard the
bank suspension, but copgra.1ates the Legislature
that Ksntueky has escaped the latter. la refer
cree 10 this subject the Governor mentions with re-
probation aud regret Ger in manifestations Of NO
ence which, ct tse period Of deepest pressure, were
exhibited in certain localities tovsra persons who at
tempted to draw specie ftom the banks, and who, IN
some instances, were thus deferred from exercising
their rights He sleges, however, IS the result OF
corefu inquiries that this interference with the rights
of those creditors was deprecated by the principal
banks and that il every usts1ce those who had oeen
thus deferred from coIlee ting their debts in specie
were sought out and pad in full.
The Governor, while disclsm'ng any advocacy Of
local banks, denies the poweE OF lhe General Govern
meht 10 destroy the banking corporations Of the States
Having been cocss with nstional existencs,
our whole system OF business is so iutetwned With
them ss to forbid the idea that the States would
ever yield this exercise of their eovers'gn power,
especially as overwhelming majority of the people
are in favor of paper cOrreNey, p'eiei.rg oVrng
perioos of commercial disasters to nave en- moon
yertible one rather than at all. metallic cur
rercy he thinks i. preposterors 10 talk about we'll
guarded matte nal currency, ia fact new National
the local banks in order and svsirg ruinOus tucus
tiors end vibrations of ccmrerce
He suggests that tho present esringency in money
affairs might perhaps be in some measure relieved by
law allowing the parties 10 contract TO agree upon
the rate of interest very small amount of money
IT, as far So he can discover loaned at an interest
go low six per cent
The 6narces of the State are in a prosperous con-
l:,;o, n norr aunouvte N about A million
of which about half belongs TO the scuool fU7u ana
sinkipe fund, While the ether bsf goes for ordinary
expenses In two years peat, s4l5 900 Of the public
debt has been redeemed and there are about $3.50 900
on hand applicable to the same purpose. The whoe out
standing debt amounts to 1854 2A but this cludss
the school debt which is only perpetual charge on
he sinking fund and also 100000 advanced to the
Southern Bank, acd The pliLcips aud interest of which
il TO be paid by that Institution This leaves an actual
debt of 1882, 10, bearing an sunual interest of
s2lO, $50 Az An Offset, the State holds S2O3O, 5OO IN
bank stock. at presen shove par; s269t239in stock
of turnpike roads, 1901 1872 N locks and dams on
Kentucky River; 1859, l26 10 locks and dams on
Green River $lSl, 800 IN the Lexington and Ffenk-
fotRsirost sid an interest equivalent to s7i 529 at
FIX per cent. il the Louisville and Frankfort Rsroa1
The Constitution prohibits the creation of any new
debt, nnlets prONteOn DO ~ Nv ohn'" '''A"
levy and collect an annual tax sufficient to pay the
interest and sink The principal in thirty years. nor can
sven tbs. be done without submitting the law to the
people for adoption or rejection
A law Of the preceding session, levyins new TAX
FOR school Purposes. largely increased 'e school fund.-
which produc the last yesr upward Of 5000 OG, The
present system embraces every whit eb"d in the
State The number Of Children betwe six aud eighteen
report d to the Superintendent was 2i5, ISL. The
highest number at schoo at any time was 49, 3D.
an increase of 26, 042 over the preceding ye' The
number Of schools in operation is reported a. 3e85 a.
increase of 54. TIE create want is that OF conpe-
tent Teachers The LATE Ti~usylvsns UGiversity has
been organized unGer law Of the State as Normal
School.
The State is without. a militia system, which has
been destroyed by law Of lsj4, requiring usters but
orce in FIX years. The Governor has dore what he
can 10 encourage volunteer companies BY furnishing
them with public arm7.
Two volumes of the Geological survey OF the
State are ready for pubcs.on. The reg 'uiion OF
bir.rs, deaths and marriages is 10 operation
Bettrg On elections and illegal voting are subjects
that should be looked sf.er. The Governor cHciades
with some obsel a ons on the naturalization Law, and
the Slavery question: but upon this latte subject the
Governor is quito moderat, in contrast vita the
dis,ritss INDUCED in by Governors forther Sousa.