Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-10-29
GOVERNORS MESSAGE.
Gentlemen of the Senate
IL H.

uHu " Ht llOuSt y ItPCNeW"ttCeo'
At your adjournment in March last, l
did not anticipate that circumstances would
arise which would impose upon me the du-
~, in obedience to the Constitution, of re-
commencing TO your consideration o.her
measures for the promotion Of the welfare
of the State, than those indicated in the last
message. The country then seemed 10 be
in a condition of general prosperity. Our
currency was apparently sound. Com
merce seemed TO be active and confined TO
healthy channels. Manufacturing enter
prise was vigorous and confident. Agri-
culture, the basis OF all material prosperity,
promised TO yield abundant returns; and in
dividual diligence and labor reaped their
fair reward. There was nothing 10 betoken
the crisis which has come upon us. Our
railroad enterprises, it was hoped, would
move steadily on to completion, abundant
means having been provided by the liberal
ity of the General Assembly; and our bank
ing institutions, it was believed, would fur
nish sound circulation, adequate TO the
commercial and industrial wants of our
people.
Nothing could exhibit the falaces and
dangers of credit and banking system
carried beyond their Legitimate limits, more
clearly than the present state of affairs,
compared with the confident anticipations
INDUCED in by every class of the commune
ty, up TO the very moment when the storm
burst upon the country. Although we have
experienced similar things at various peri
ods during our existence as confederacy
we were, in this instance, as we ever have
been-prOne TO forget the calamities of the
past, and 10 hope agcinst hope for the fu-
ture. The results are as natural and ne
cessary Gs the results Of known physical
causes, depending upon the operations OF
immutGhie laws. There are limits within
whiclS .ae banking system may not only
be sufelaout benefcial; and until we provide
the app. opriate means for cOnfnirg them
within these limits, we may expect periodi-
cal convulsions similar to the one under
which we are now O. Eering. They would
not be so lamentabI-if the ruin arising
from them was visited only upon those
whose misconduct has produced them: but,
unfortunately, they generally escape, and
shift the burthen upon the shoulders of the
producing and laboring classes.
To US, the most disastrous consequence
produced. has been the check given TO our
railroad system, and the evident deteriora-
tion OF the credit of the State. Our pros
poets are so dependent upon these, that the
present condition Of things, in my opinion
imposes upon us serious and important du.
ties. The first Of these is, to take such ju-
dcious and decisive measures as will Sc
cure, beyond all question, the honor and
credit of the State; the second, to devise
such amendments to our railroad system as
will enable the companies to secure what
has been done, and ultimately to complete
these important works; and the third is, 10
place such additional guards upon the bank
ing system as will confne it within legiti,
mate limits, and tend TO expel from our bor-
ders all deprecated paper.
In the measures tending to these ends,
all OF us are interested-the people at large
the stockholders in the roads ,and the stock
holders in the banks; ;and will not presume
that any one will be so wanting in patriotism
and public spirit, as to oppose them
What is done, hope can be done with the
cordial concurrence Of all concerned, To
effect the objects contemplated, several dis
tinct steps ought TO be taken. Some ol
them are exclusively and absolutely within
the power OF the General Assembly, and
some may require the assent of the railroad
and banking companies. To appreciate
them, they must be enumerated and consld-
cred separately, and as whole: for they
have their several merits, as Hell as mutual
dependence upon each other. They are as
follows, viz
lst. That no more State bonds should
be issued and sold at ruinous rates of dis
count. I'd, That tax should be levied
which, with the surplus revenue, and the
two and three per cent. funds, would be
sufficient TO cover the whole amount of in.
Al g Al.