The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1861-01-11

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the requirements of the law, has Just applied
| for State recognition in the extreme northwest.
commend these noble, and peculiarly Penn
| sylvana, schools 10 your favor. Aid to them
/ will be the best investment that can be made
| Tor the Using generation. Good instruction for
our Children is the strongest earthly guarantee,
| that, whatever else we bequeath them, their
/ inheritance will be blessing, and not a curse ;
and, II nothing more Is lett. in the we'll cultur-
/ cd minds, the willing hands, and the trust in
Sod, OF treemen, they will have all that is
| essential. as
| Nearly eleven thousand of our fellow citizens
fare now devotiug their efforts to the improves
inent OF the commoo school, as directors Than
/ tins there IS no more meritorious body of men.
/ An increase of the annual State appropriation
would not only be material reIiei to the dis
trlcts, at this Time, but would, 10 some extent,
disemoarrass directors IN their local operations.
! 1t Is not, however, the common school sys-
| tenn vast and honorable 10 the State as II is.
that claims your entire attention, in reference
| 20 education. Pennsylvania also boasts her
collegiate, academical, scientifc, professional,
I and phllanthToplc institutions, and numerous
! private schools of every grade. Tn this re-
sPect she IS second TO no member of the con-
fedeTacy but, from mere want of attention 10
The proper statistics, she has thus far been
I ranked Tar below her ust standard. The pre-
seEt IS not the proper time TO renew grants to
! institutions OF these classes which heretofore
/ received State aid If it were, the public au-
/ thorlIeS Go not possess the requisite data for
a safe and just extension OF iberaihv. The
period will arrive when all public educational
! agencies must be included in one great system
| for the elevation of mind and morals and
| when the State will, no doubt, patronize every
| proper effort in the good work.
| For The details of The system during the las.
school year, the attention OF the Legislature is
| respectfully referred 20 the annual report ofthe
Common School Department, herewith submit
ted
By the act passed by the last Legislature, es-
tablshlng a system Of free banking ia PennsvI-
vaala, and securing the public against loss from
insolvent banks, radical changes were made in
the banking laws OF this State. Instead of cor
I Poratlons created by special laws, voluntary as
/ associations are authorized 10 transact the bu-
slnesS OF banking without further legislation,
and as an indispensable prerequisite to the
Issuing OF bank notes for circulation as money.
| ample security must be deposited with the Au-
| dltor General Tor their prompt redemption.-
/ ihe law makes provision, no! only for the IN
f1afdffoTT .si4frse ass0cfaargyns brit
enables banking institutions already IN existence
to continue their business for twenty wears aL
ter the expiration OF their preseut charters, up
on complying with its PROVISIONS, by Withdraw
ing their old circulation, and giving the secu-
rites required for redemption OF their new is
sues. The public, | am sure, will rejoice that
no further necessity exists for legislative action
either on the subject of creating new, or re,char-
| terIug old banks and that the time aud atten-
ton OF their representatives will now, happily,
be no longer monopoized E the consideration
Of subject hitherto productive of SO much
strife and contention, II not of positive ev,l.
The rapid increase of private banks, through
| out the State, makes 1t emrnently right that
they should be placed under proper Legislative
| restrictions and that the large amount of capi-
tai, thus employed, should be made to contrib
ute its fair proportion TO the revenues of the
| Commonwealth. Their business, IN the aggre-
gate, is now believed 10 amount to a srm almost
IT not quite. equal TO the whole business, in the
regularly chartered banks and yet it is entire
/ ly unrestricted, and with the exception of a
merely nominal license tax, IS free from taxa
! ton. This is unjust to every other class of our
| tax paying citizens, and especially so to
| the banking institutions holding charters from
/ the Commonwealth, for which they have each
! paid liberal bonus, and are, in addition, sub
! ject TO very large tax on their dividends.
respectfully commend this sutject to the atten-
ton OF the Legislature.
/ A high sense OF duty impeIs me again to call
| the attention of the Legislature to the made
quacy ofexIsting laws, regulating the receiving,
keeping and disbursement OF the revenues OF
/ the State. The public moneys are now paid
directly TO the State Treasurer, who deposits
| them, at his own discretion, whenever and
wherever he chooses, and pays them out in sums
either small or great, upon his own unattesed
check exclusively. The amount thus recei-
we'd, kept ard disbursed IS annually between
three and four millions OF dollars, with balances
on hand, at times, exceeding one million of
dollars; while the bond of the State Treasurer
is for ONLY eighty thousand dollars. His ac-
counts are settled monthly by the Auditor
General, by whom the receipts for money paid
into the Treasury are countrrsigned, and these
are the only safeguards provided by law TO
prevent the illegal and improper use OF the
money of the S tates, by the State Treasurer.
Happily the revenues of the Commonwealth
have hitherto been safely kept, properly dis
bprsed, and promptly accounted for, by those
in charge of the Public sTreasury out IN view
of the serious defalcatons which have occur
red elsewhere, and IN other States, this fact
should furnish no reason why we ought not TO
guard against loss in the future. Referring 10
my former annual messages, ] respectfully, but
most earnestly, recommend that provision be
made by law
Ftrst-That no money shall be deposited by
the State Treasurer in any bank, or elsewhere,