Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1857-01-15

Treaty of Reciprocity with Canada has en-.
: lsrged the field and stimulated the sctiyit,
of mercantile enterprise, especially in the
Northern part of the State. And the grea'
i, interchange OF commodities with our su1&
: States and between different parts Df -
own Commonwealth, give continual ed
pIey ment to large resource and active ener.
gies. Wise Legislation is never pml!cy e
IN srresting The development or in sram D ing
the activity of commercial intercourse.
Among the instrumentaltIss by means o
which intercourse is carried on between diff
ferent parts of the State and different sec.
: tions of the country, Railroads NAV now b.
regarded as the most important. The rapidi.
ty and eose OF transit by rail gives 10 thai
mode OF conveyance decided preference
over every otEer; aud the number who com.
NIT the lives and property 10 the skill and
fidelity OF Railroad conductors. and other
employees. slresdy vast, becomes, hourly
greater. The number Ui miles OF Railroa.
in actual operation in this State, in 1856
according 10 a statement maze by the late
Secretary Of State. was 1888. The present
number is about TWO thousand eight hum
dred. These Rsilroads have cost about
ninety millions Of dollars; more chan mil.
lion Of passengers are snsualiy carried upon
them; aud their gross receipts are not less
thsB Elk millions OF tollsrs a year. 1t is
doubtless within bounds th es innate the
probable increase tor the next ten years, in
extent. cost, transportation and income, ut
one quarter the present amounts. This
vast interest, affecting vitality So many 9th.
er interests, has grown suddenly to It's pre-
sent dimentions, without system, without
general organization, and 10 some impurtanI
4 respects, without due responsibility. The
benefits Of Railroads are such, and iheir safe
" and prosperity is go identified with the
safety and prosperity Of the people, thaI no
proper Protection or support should be with.
held from them; while The dangers from mis-.
management are So great that no reasouab lie
prersution against il should be omitted.
respectfully recommend, therefore, the or
ganization Of Board Of Railrvad Cummis-
sioners, with power to exercise q general
supervision over the construction and opera
tion Of the several roads, and required to re-
port from time TO time TO / E Governor, Tor
the information OF the General Assembly,
full statement Of their condition and man
agement. cannot doubt that the saluary
influence OF such Legislation would be speedi-
| ly manifest in the increased value of the
roads and the greater security of travellers
and freighters.
A sound currency and secure exchanges
are not less i'm. orthnt to the intercourse Of
society than safe means OF transportation.
ln almost all. and, perhaps, in all civilized
communities, the currency is composed of
coin and OF circulating notes, Convertible
into coin, supplied either directly by the
4, L..
its authority. la This State the powers,
functions, duties and lsbiiiiies Of banks have
been defined by The law; sometimes by spe
cial laws under the name OF charters, and
sometimes by general laws. amendable and
| repealable al the pleasure of the Legislature.
Whatever difference may exist upon the ab-
stract questions relative 10 a mixed cu-ren-
cy, none, apprehend, will be found among
practici men 10 regard to the certainty that
such q currency will continue, for an indtf-
mite period, 10 constitute The actual medium
of pure nase nnd sale, in this, well Us 10
every other State OF the Lonieder acy. Ger
tainly DO power, less ample than that OF the
Federal Government, is competent to the
tffectual exclusion Of such notes from circu-
latitn as money, and no present iudlcatIon
suggests any probability that ihlt power will
be exercised Ter that purpose
While opinion upon this point TINS approaches
unanimity, the public Judgment in this State, re-
mains divided upon the question whether the
franchise of banking should be limited to def
ned number of institutions, or extended to all
who willing to give the required securities and
guarantees against abuse. have, upon former
occasion, expressed my preference Tor the most
liberal extension Of the franchise, with such re-
strictons upon its exercise will efectualy pro-
Il
currency.
The act to incorporate the Bank of Ohio and
other Banks, passed April II, 1886, and submit
ted to the people in conformity with the proYis-
ions of the Constitution, on the second Tuesday OF
October last, not having been approved by a ma
jority Of all the electors voting at that election,
has failed to become a law. More recently, the
Supreme Court of the State has unanimously de-
cided that the act to authorize free banking, pass
ed March 81, 1851, but supposed by some TO have
been abrogated by the new Constitution, remains
in full force, unaffected by any provision OF that
instrument. l submit TO your better Judgment
whether sound policy does not suggest the expe-
dency of observing the practical operation OF this
act, and of SO amending it from time to time as
may be necessary to protect and secure the inter-
ests of the community, without invoking the de-
cision of the people upon new banking law.
Considerable practical difficulty has arisen in
carrying into execution the provisions OF the act
of April L, 1856, for the taxation of property en-
ployed in banking. To determine the precise
rate to be levied upon the property and means IN
cluded in the first statement, required by the act,
in order to produce the sum which would be pro-
duced by the general rate If levied upon the sec
ond, and to levy that precise rate when ascertain
ed, prove, not unfrequently, to be complex and
embarrassing operations. The requirement, also,
that the gross amount of property and means EN-
braced in the first statement shall be entered upon
the duplicate for taxation and taxed by dlnerent
@l. sloNl I'd
the property of individuals, is calculated to pro-
duce an impression in the public mind that prop
erty employed in banking is not charged by the
act with its fair proportion of the public burdens
Such impression, in my Judgment, cannot fail
to prove injurious 1t is the true interest OF bank
ing institutions well as of the people, that all
legislation concerning them should avoid even the
appearance of special favor. The most absolute
impartiality in the distribution OF burdens is de-
manded by every consideration OF policy as well
as Of justice. 1, therefore, respectfully suggest
such amendments of the law as will require all
property employed in banking to be embraced IN
one schedule and entered upon the duplicate Tor
taxation at the same rate as is imposed on other
property.
The constitution authorizes the establishment
in the Secretary of States Office OF Bureau OF
Statistics. Some provision for the collectlon OF
statistical information is already made. The
Township Assessors are required to make returns
of the quantity of wheat and corn produced IN
their several townships each year. The District
Assessors required to report, under certain
classification, in six years, the number OF
acres of taxable land in the different counties
Various acts require the collection of other statls
tical information, more less specific; in relation
to production, education, population and crime.
Under these acts, although from want Of system
and of adequate means OF enforcement, they are
often very imperfectly executed, large amount
of useful information is collected. 1t is scatter
ed, however, through many disconnected reports
and consequently fails to yield the full adyan-
tage which might be derived fromit. To combine
this and collect other similar information, and to
present the whole, SO arranged as to exhibit the
mntuaI relation of facts and classes OF facts, to-
getber with their general bearing upon the public
welfare, is the proper function OF bureau OF Sta
tistics- I can perceive no insuimounIaDle eosta-
Gle to the collection OF all nearly all the inior-
nation required through agencies already exist
ing. without incurring much new expense. for
the present, little more would be necessary lhan
to provide for the appointment of Thoroughly
ouaI;6ad nerson to sui,erintend the whole work,