Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1858-01-14
GOVERNORS MESSAGE.
COacinded.


In any phase of the question, this separa-
ton is desirable, but in connection with the
payment Of the public debt, and the reduc-
tiUn OF State taxation, it becomes an object
us more than ordinary interest 4 sale, at
the earliest practicable period, Of the whole
If our public works. for fair consideration,
upon terms just and liberal to the purchasers,
and at the same time amply protective Of the
rights and interests of the people, should be
authorized by the Legislature Such sale,
with the application of the proceeds to the
payment Of the public debt, would secure its
sul more rapid extinguishment. The subject
Is recommended to your unbiased cOnsidera-
tim.
The law incorporating the Pennsylvania
railroad company, imposed tax Of three
mills per ton, per mile, on all tonnage passing
over that road, as an equivalent tor any de-
creast in the revenues of the Comm monwealth
that might arise from the anticipated compe-
tltlga of the road with the business OF the
main line of the public Improvements. This
taZ is not imposed upon the company, bat
upon the tonnage, and is paid by the owners
Of the freight transported over the road the
company acting as agents in its collection and
payment to the State. 1t is virtually a tax
noGwealth, and upon the commerce Of other
States whose productions seek an eastern
market over this road; and thus by increasing
the rate Of charges and the cost Of transpor-
tation the produce of the west is forced upon
tie competing railroads of other States and
70 other markets than our own. The reces.
aty that required this tax, as regards the
Commonwealth and her improvements, has
ftc lr,h ho f.aJ
as revenue measure. 1t should be the pol
icy Of the State to invite the transmission Of
the products of other States through her ter
niory to her own markets, and, therefore, the
PEoprety Of relieving the trade and business
Of the Commonwealth and country from this
2- upon it, is respectfully submitted for your
consideration.
In consequence of the suspension Of
specie payments by the banks Of this
and the other States of the Union, and
ms financial embarrassment and general
prasiratiSn Of business, deemed it my duty
20 call, as authorized by the Consultation, an
extra session of the Legislature, to meet at
nsrfssburg on the sixth day of October last.
although the relief provided by this extraor-
qlhafy session of the General Assembly was
Aot as ample as the exigency of the case re-
,~' JSt ~ ~as pSoauGtitS vi uauJ bShCA
Ssl Results, and served TO allay the intense
excitement and alarm that pervaded the entire
sOnnGnity. BY the act providing for the
.TI'sqmpoon Of specie payments by the banks,
al banking institutions accepting the proyis-
T rSas ot that law were required to payin the
treasury one-foarth of one per cent. ON their
capital stock. The amount realized by the
payment Of thie bonus has not only betrayed
a" 'ne expenses Of that session, but will leave
=. balance in the Treasury of not less than
'uItyhVe thousand dolIars-a result certainly
noI injurious to the finances Of the Common
wealth.
ny views expressed in former communica
o ools On the subject Of banks and banking
Ga IN their relations to the currency ant
Oh general interests of trade remaln i.n
SaAnged. However diverse our opinions MAY
H.. w Lhls subject, ii must be admitted by al
;n1;. .ne banking and credit systems arc :,
'ely interviewer with the business aat