Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1858-01-22

| disbursements shall bc IN the legal
coin of the country. Whenever q
practicable, convenient and efficient
scheme for the operations Ofthc Treas
ury upon such basis can be prescn-
ted to me by the Representatives of
the people, it will meet with cheer
full approval. There are difficulties
in the case, however, far greater than
those surmounted by the general gov
crnmcnt, in the establishment Of its
independent Treasury system; but the
object being one of the first magni-
tudc, and calculate to exercise a most
salutary influence upon the action of
the government, and upon the busi-
ness of the banks and the people, it is
well worthy of earnest consideration.
In reforming the currency, single
State can accomplish but a moderate
amount of good, however sincere, intelli-
gent aud earnest it may be, without the
cooperation of other States, and especially
of those which adjoin it. Bank notes are
not stopped in their flow by imaginary State
lines, nor does it seem possible for State
altogether to prevent foreign notes from
circulating within her borders, even by the
most stringent enactments. We must,
therefore, invoke our sister States to join
with US in the repression of small paper,
and in such other particulars of reform as
require for complete success their cooper
alton. Meantime to the extent of our power
let US exert ourselves to furnish our citi-
zens with safe and stable currency; to
prevent future financial convulsions simi-
lar to that under which the community has
for some time been struggling; and to re
licve the government in its fiscal action
from the danger of deprecated or worth
less paper, and the embarrassments arising
from dependence upon corporations Of her
own creation.
The people Of Pennsylvania by the recent
adoption Of an amendment to the Consti-
tuition on the subject of Public Indebted
ness, have imposed an imperative obliga-
tion upon their servants to practice ccon-
omy, to limit expenditures, and to give
their best efforts to the gradual but even
tual extinguishment of the existing public
debt. After eight years of experience
under the sinking fund act Of lS49, We
find our public Indebtedness but slightly
diminished. The constitutional amend
mcut JUST adopted drnaud, the establish
ment Of an effective sinking fund for its
payment, and l shall consider it one Of
the leading duties of my administration
to see that that amendment is carried out
both in its letter and its spirit. l can not
regard the reduction Of the three mill tax
on property made at the last regular session
of the Legislature, otherwise than as inop-
perfume and doubtless existing financial
embarrassments will for time reduce
the amount derived from other sources of
revenue. Nor will any very large amount
of the purchase money Of the main line of
the public works be realized by the Treas
ury for considerable period. 1t will,
therefore, be necessary for tho State to
husband her resources, and to increase her
revenues as far as possible, without oppres.
sion to any interest, in order to meet her
current and necessary outlays,the demands
Of her creditors, and the positive obliga-
tion of the constitutional amendment.
There is great lack Of consistency and
principle in the laws passed during some
years in relation to its interpretations.
They have been created upon no settled,
uniform plan are excessive in number
and many Of them unnecessary to the &C.
Of any legitimate purpose.
They have doubtless encouraged specula-
tion, and in various ways contributed to
the recent financial convulsion. Various
and inconsistent provisions appear in acts
establishing or extending the powers of
corporate bodies of the same class and gen.
eral character. The tax laws relating to
them are in some confusion, and conse-
quently taxes paid by them unequal, while
some wholly escape any share Of the pub
lie burdens. In brief, our system of in
corporations has become so vast, diversified
and difficult of comprehension, that no
reasonable industry can master the whole
subject, and understand precisely where
We are and whittier we are drifting. A
thorough revision Of our laws on this sub.
jcct, and the establishment of general,
uniform regulations for each class of cor.
porate bodies, with the avoidance as far as
possible, of special provisions for particular
corporations, are reforms, imperiously de-
manded by the public interest, in which l
shall heartily cooperate. have no hos.
tility to express against interpretations for
proper objects beyond the power of indi,
vidual means and skill; nor generally
against legislative facilities for the appli.
cation of labor and capital to the creation
of wealth, where individual unprompted
action will not 60. But no one can assert
that we have limited ourselves to such
policy, nor that our laws on this subject
have been careful, consistent and just.
But, Notwithstanding all topics Of regret
or criticism in our public career, (and which
should bear their proper fruit in amend
ment and REFORM we may we'll be proud
of this Pennsylvania of ours-of her peo.
pie, her institutions and her laws. She
has become great, prosperous and power
full ranking among the first of the States
and her condition at homo and character
abroad bear testimony to her merits, and
promise for her distinguished future.
Besides her agricultural resources, which
are great and first in importance, she is
o,n,bla of pro1uo;or, ,,nkoll