Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1859-01-13
TOWAND CMEAR

the measure of their usefulness in their appro-
pirate sphere of influence, it must be conceded
) that the training they impart is badly adapted
to the art of practical agriculture. In Penn
: Sylvania that interest is SO important as to de.
mand at all times our anxious attention and
active'support. THE Farmers High School
of Pennsylvania" lately projected and planned
by few public spirited individuals, and which
has received, to some extent the patronage Of
the state, and the contributions of a number of
our patriotic citizens, is destined to afford q
place where young men may be educated at an
expense commensurate with their means, and
to a condition qualifying them for the pursuit
of the business of the farm. Here, whilst daily
occupation will train the body to the ability to
labor, and give to the student the enviable
feeling that he contributes to his own support
and education, it will instruct and enlarge his
mind, that it may give force and effect to all
his future efforts. The design of the iustitu-
ton is to afford a school where boys may be
thoroughly educated in all branches of natural
science, and, at the same time, be Injured to
the performance of labor SO that at their
graduation they may return to their pare Is
abundantly prepared to JOIN the domestic cir
Gle, to give right direction to the business of
! agriculture, and act well their part in every
department of life. An object so fraught with
usefulness is entitled to the highest commenda-
tion.
The application of scientific principles to the
practical purposes of life is but realizing the
! full benefit Of those laws of nature to discover
and to profit by which, is undoubtedly one of
the great ends of human reason. The more
this important object is held in view and effect
/
more valuable and useful they will become. -
| The Polytechnic college Of Pennsylvania at
! Philadelphia is founded on this basis and its
attempt to popularize science, aud connect
high requirement with practical ability, is pre-
sented to your favorable consideration.
Under resolution of the last House of
| Representatives a committee was appointed by
the Speaker 0! the House, to examine the state
and condition of several banks chartered at
the session of 1851. The resolution rected
the committee to report TO the Governor the
result Of its examination within, ninety days
after the adjournment of the Legislature On
the goth of July last, the report of the COM
mittee, together with the accompanying evi-
dencp, was filed in the Office Of the Secretary
of the Commonwealth, copy of which will be
laid before the House of Representatives.
In view of the facts reported by the commit
tee, in reference to the organization and SnbSe
queut management of the Tioga County Ban.;
the Crawford County Bank, and the Bank of
Shamokin, | would recommend a careful in
quiry into the present condition of these nsti
tutionS, and if it shall be ascertained that the
public is likely to suffer injury from the further
existence of either, speedy and certain RENE
dy may be found in a legislative repeal OF the
rights and privileges granted by acts of inror-
poration. The power to alter revoke or annu
the charter of bank whenever its continuance
may, in the opinion Of the Legislature he in
furious to the citizens of the Commonwealth is
expressly given by the Constitution to the
General ASSembly,--to be exercised, however,
in such manner as that no injustice shall be
done to the ncorpOratorS.
Obedience to this constitutional Injunction
would require that in event OF q repeal of the
charter of bank, care should be taken that
the rights of the stockholders to the surplus
assets of the bank, after the payment of its
debts, were protected and that suitable pro-
vision should be made for settling its affairs
The injunction contained in the Constitution,
that the repeal or revocation of bank charter
shall be in such manner as TO work no injustice
to the corporators, is not qualification of the
power to revoke or anuul the charter but
simply o requirement that, in taking away the
charter, the rights of the stockholders shall be
protected, so far as is consistent with the act
of repeal itself [ do not doubt that the Leg
islature NAV alter revoke or aunul, any bank
charter whenever in its opinion the cOntinu-
ence of the charter may be injurious to the
the citizens of the Commonwealth. Any other
construction Of the constitutional reservation,
would make the interests and safety of the
public subservent to the gain of the private
stockholder. Believing, therefore that there
is no want of power, | cannot refrain from ex-
pressing my decided opinion that whenever it
is clear that bank is insolvent, or in great
danger of becoming so, or whenever its privi-
eges are so used or abused az to seriously pre-
judice the interests of the public, it is the dnty
of the law,making power to protect the people,
by destroying its corporate existence.
In this connection / deem it my duty to re-
iterate the views expressed in nv inaugural
address. | then stated, as my decided opinion,
that there should be no further increase of
banks or banking capital under the present
, acknowledgement decided hostility to the
issue Of notes of small ACKNOWLEDGEMENTS
recommended snch change in our laws rela-
tive TO banks, their organization aud manage
ment, as would at least secure beyond all
!, question. the pr npt redemption Of all bills or
!, notes put in circulation hy the several banking
institutions of the Commonwealth
Well satisfied of the imperfections of exist
ing laws relative to banks and banking, deem
it duty to inform the General Assembly that
] cannot give the Executive approval to any
bills charttring additional banks without rad
: ica change in the entire system 1t is but
just to state thot in my opinion a large major,
ity of the banks of the Commonwealth are well
and safely managed, and in perfectly sound
condition but this is due to the honesty and
! Intelligence Of those having charge Of them.