New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-10-14
GOVERNOR HARRTs'S MESSAGE.

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Az the sessions Of the TENNESSEE Legislature are
biennial the Governor in his message includes the
sffars Of two yeah. The receipts INFO the S!a's
Treasury for the two years ending with the let Of
October, including bals1ce the lat Of October,
1851 Of $36, 400, amounted 20 81 s4SO@l. The DIS
bursemen.s, nendipg s3i 600 for various extrsordi.
nary expenditures, amounted 20 {l1 f,2s, leaving
in the Treasury, the let of October inst, balance
$50 1913. Tie aggregate taxable property Of the
State has increased within the same period by the
Of s,6 $40 $50, amounting, on the LIST OF OCTOBER
ls.t 20 So, 2ts64l. The direct debt Of the State
created by subscriptions 70 turnpike, railroad, and
bark stock amounts 70 S3,sli,6g6, OF which 800 600
fall due in July, 1861 aud must be provided for 5y the
present lie gslature. The contingent Liabilities OF the
State, on accoun. of bonds loaned TO nerna improve
mer,s, or promises o, gusranteesof their bonds,
amount 20 600, 10 winch may be added some
three millions more pledged TO works in progress bnt
not yet called for. Hitherto there has been no fal-
ure by the companies thus assisted in paying interest
a. it fails DUE and the Governor anticipates that they
will continue TO DO 90. The lines now nearly CON-
pted and therefore worked 70 better adv antsge give
to al sections of the State easy access to market.
The Law under which the railroad bonds were issued
requires the roads at the end of five years from the
receipt Of the bonds, 70 pay IN annually, TO form
sinking fund.- two per cent on tne amount OF the bonds
which they may respectively have received. The
payments under this provision, which commenced
last year, amount now to 100000, invested in State
ak percent bonds. The account of each company
wac kept separately and the payments made by each
are 1vested for its special benefit. Should the pay
merts be punctualy made and properly invested, be.
fore the maturity Of the debt they viii produce sum
sufficient for its entire extinction. Maintaining
this sound state of the finances of Tennessee, her
bonds are at discoun. Of ten per cent, which the
Governor aecrbes 20 the large number on the market
BE deprecates any increase Of thai number and sug-
gests that the bonds ought not TO be taxable as they
now are in the hands of private holders To the ex-
tent to which they are taxed their value is dimn-
shed, and policy ought to be adopted which tends
to deprt ciats them at home.
The investments Of the State, as stockholder in
turppkes and railroads have not proved profitable,
ard the Governor recommends to sell the stocks now
held and TO sppy the proceeds, so far as they may
60, to the e1tinguishment of the State debt.
The Governor complains with good deal of urgency
that the practice of granting rrepeslsble charters
to banks has placed those institutions beyond the
control of the State and has led to serious abuses.
Not only would he reserve to the Legislature right
of amending or repeating all bsnk charters, but he
would restrict the banks from Issuing more than = in
paper for of specie in their vaults, or from con-
tracing liabilities OF any kind TO exceed 8 for one on
hand in specie. He would forbid them to issue notes
under $40 or to make their notes payable elsewhere
| than at their own counter. He would require al
notes to be registered and countersigned by some
public officer; would establish Board of Bank Com
missioners wouli make stockholders personally liza
r 4 - of he hon and hava a ar
pension of specie payments for twenty days operate
as forfeiture of charter He is also opposed to any
connection of the State with the business of banking
Under the act establishing State Agricultural Blu
reau, Fairs are held in Knoxville and Jackson snnu-
ally for the eastern and western divions of the State
and for the middle division with some one of the
county societies. There forty-two county socie-
ties organized and in operation. County Fairs are
held annually by nearly all these societies, at which
good deal of emulation is exhibited on the subject
of stock and crops. notable advance in methods Of
farming and implements of cultivation and amount Of
crops, has been made.
The act of the Legislature, directing the Governor
to purchase for the State five hundred acres of the
late residence of Gen. Andrew Jackson, including the
mansion, tomb, and other Improvements, known as
the Hermitage has been carried out at an expense Of
SIS Geo. question now arises, what shall be done
with ii The came act which authorized the pur-
chase authorized tender OF it to the Federal Gov
eminent, on the express condition that it should be
used as branch Of the Military Academy at West
Point. That tender not having been accepted within
the time originally limited the time for accepting it
has been extended TO two years from the 9Th of Feb
ruary, 1853. Meanwhile, the party from whom the
land was purchased, and who has remained in pos
session till now, having notified his intention to re-
move, provision must be made for keeping it in
order. The Governor suggests that hundred and
fifty acres be retained, including the buildings and
that the rect be sod the partetaned being put under
the care Of the State Agricultural Bureau, or, should
tba. party prefer H. the whole tract might be placed
il their charge TO preserve and beautify.