The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-12-08
TIN. Governor's Messages.

.suit Il their reception amer the hear named
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The Governors Messages.
We publish this morning three Of the four Mes
sagss submitted by Governor WISE to the TWO
houses Of the Legislature.
No l. IL devoted to discussion OF tine preseus
commercial ersis, --the causes which produced IT
the condition of the Banks Of the states, ana 81
peoiaIly Of yirginia--the effect OF the commercial
relations of States and cities upon the Banks ther
paper circulation and Exchange-the suspension
by our Bauks-reasons for the course pursued oy
the Executive in the smsrgency-and Suggestions
touching the question Of Banking
No. q 10 devoted to the discussion OF the propri-
city of repeating the Usury Laws, and to certain
recommendations touching State bonds.
No. 8, IL devoted to general matters, including
Internal improvements.
No4, which We are unable to publish TINS
morning. and which we may not publish at all, is
list of pardons and combinations OF puni'nmsns
by the Executive and the for his action In
each case.
The first Message contains vast amount Of sta
tis,ical information, with which the Governor
elucidates his views with regard to the tendencies
of commercial power and Capitalization, especially
in their effects on Banks and capital. We refer the
to undertake a synopsis of Thorn
The Governor justifies the suspension by the
Banks. With regard to the policy advisable to-
wards the Banks he advocates Independent Banks,
without branches, estab lished upon u specie ba,
sis-wth two notes in paper for one of capital,
and one of specie for three 81 paper crculation-to
issue no note of less than sl0-imited in dividends
TO per ceut-wi:h increa sed governmental con-
trol-and to be allowed to ba nix at only one-half
the amount Of their deposits He does not think
banking upon pledge Of State stocks safe or
sound policy for this State.
Governor WISE thinks it strange that we ina
gined ourselves freed of money monsters when we
got rid of the Bank of the United States He asks,
shave we not in few city banks in New York
new almost the same central anu specializing and
contracting power over finance and currency, which
the Bank of the United States was won't to weld!''
The subtfeasury system he looks upon as assisting
in the Capitalization Of which he complains, by
means of the sale Of drafts which authorized by
law and which avoid the necessity of translating
gold from the centres TO disburse elsewhere, and
thus of distributing 1t throughout the country
lie suggests that this system of drafts should be
repealed by Congress and better of regu-
lating Banks and preventing excessive mutations of
paper money, that the States cooperate in the
Enlistment of some uniform system of Banking.
In Message No. 2, the Governor argues strenu-
ously against any repeal the Usury Laws. In
deed, rather than repeal them, he urges that they
be strengthened.
With regard to State bonds, we are highly graft
fed that tho Governor urges tue repeal of the tax
upon them, and the prohibition Of the power OF
corporations to tax them. The State tax aud the
corporate tax Of this city together, amount to 140
per cent? thus reducing the Interest on State
Stock to $3.50. 1t is to be hoped the Legislature
will adopt this proper recommendation.
Message No. 3, we have not had the opportu-
nifty of reading except so far as to see that the
ject of Internal Improvements, with his wonted
zeal. We gratfed to see that he still presents
the James River and Kanawhs Canal prominently
as the greatest Of all our improvements, and
therefore first entitled to the consideration of the
Legislature. He recommends small appropriations
to few lines of impro vement.
The style of the message is that which distin.
guishes all of the communications Of the Cover
nor, energetic, decided and explicit.
APoLoGETIo.-In order to make room for tho Gov.
ernors messages, we are compelled to condense the
general news of the day into II small space.
AMUsEMEsrs.-The ''Three Gusrdsmen,' drama
replete with stirring incidents and gorgeous
scenes, will be produced again tonight at the the
atre.
Mrs. Helen Muzzy will give her promised ''read
ings" tonight at Metropolitan Hall She will
doubtless receive liberal share of patronage.
MURnTR Tina Wheeling IntelligeDcer Saws that