The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1863-01-14

been paid, like all ordinary transactions BE-.
tween man and msn, IN what IS known as
currency, which is now, and has been for
sone mcnths past, about thirty per
eenteelow-coin. j is dflicalt 20 End any
good reason Tor msking this difference with
ouI creditors. dt IS therefore recommended
that you make PrUsision Tor the payment OF
interest IN CON, upoa ali OF our debt, or that
all be paid in the legal tender notes Of the
Federsl Government. The banking interest
rs not alone Interested in this question. 1t
Is true, that for the past year, this interest
has sustained The burlheb; but it is idle TO
10 suppose that it will continue TO do so, for
any considerable length of time. Much as
the bankers nay tleSite to continue in die
business OF barking il as safe to assume that
they will be governed by what they may con
sider their ultimate interest. And il requires
but little knowledge OF the business 70 see,
that they cannot make money 10 purchasing
coin at thirty per cent and selling it at a
half per cent. A faRare, therefore. on your
part, TO relieve the baisks from the proyi-
slots Of tie act heretofore recited, is sub
staotia4ay inviting them, at once 10 wind up
their business. '' ''6F+ft = % saw
lhis great interest is so intimately con
necsed ard blended with al the other varied
interests OF the State, that any measure,
tsndiRs TO drive them out OF existence hur>
iiedly or rashly must necessarily derange all
otlier interests. 1t is therefore recommend.
ed that you relieve the banks Of this burlh
en- h4 t' .s ''-l''- {''s' oh '.A
Upon the question, itself, Of paying our
interest in coin, much may be said on either
side. In favor OF the measure, it may bo
claimed that Ohio agreed TO pay in coin, and
having thus agreed, add being thus abund
artly able 10 perform all her agreements, we
cannot with honor, compel our creditors to
take any thing else. ~ goa 7.
On tie cttcr side, It may be said, that
when this agreement was made, it was not
even Contemplated by our wisest statesmen,
that any thing but coin would ever be de.
clared a legal tender, nor, that the national
government woald ever be compelled to
Issue currency, and require the business
community 10 receive it at par, when the
same would not command in coin its nomi
inai vaTue. '-' '.t tt f''
This state Of things, however is upon us,
and the wisest cannot tell how lcng it may
continue. Is this a sufficient rea' on to jus
tiiy us in violating an agreement Surely
cur constituents will respond, No. The
Fund Commissioners should therefore be
directed by law, to provide sufficiennt coin to
TO pay the interest upon all Of our debt
The pri cipal Of the debt, being payable at
our pleasure, after stated periods, may be
for It's liquidation. 3
The semi,annual reports Of the Fund
herewith presen ed, contain
detail statement Of their proceedings for
he past year. The total receipts for the
year were 81 $50 1888 90, and The disburse.
pents s1,899,552 50. Under TIE authority
sivtn them by the act OF March 1862, they
have exchanged certificates due in 1860, 70
he amount Of 81 ,095, ,309 AZ. They show
hat the total iandcd debt OF the State is
s14, 141,662 81 These reports should com
mand your profound attention.
AS all legislation authorising associations
for the business Of banking must be submits
ed to the people, for their approval, and as
the charters Of most Of the present institu
tons will expire in Nay, 1865, it may be
thought advisable by some, that measures be
taken at your pres ent session TO ascertain
The views OF eur constituents upon the sub
ject , ',.F -........'.5
With grea, Difference 10 the opinions Of all
such, | can bat think that the present is
most inauSpcious period 10 / gi>iate on this
subject. The unsettled condition OF our
monetary affairs, hereihbefore alluded to, is
enough, OF ITSELF to enbarrass, and FENDER
uncertain, the workings Of any system OF
tsnking. In addition 10 this, the Congress
OF the United States have the same matter
before them, and will probably adopt soine
measure ma etialiy affecting the whole sub
iect. 1t IS there recommended that you post.
pane all action; looking to the re charter Of
our banking institutions, and thereby leave
the ma ter to our successors. ,..,.,...
The report Of the Superintendent Of the
State House is herewith submitted 1t af
fords me pleasure to bear testimony TO the
fithiuluess Of this officer. lie is ever at
his post Of duty, and dsburses the fund
placed ut his disposal, with strict integrity
and economy. Ills recommendations are
fully endorsed, and merit your approval.
The report Of L. L. Rice, Esq, Supervisor
Of Public Printing, herewith, should not es-.
cape your especial attention. Mr.. Il, is hy
trade printer, AID hence wen eGucated to
the per ogmance of The duties Of his office;
and II is, but a simple act Of justice to a q
aithful public officer, that | bear testimony
to his industry and attention 10 duty, A
faithful discharge Of the, duties committed
to lis hands, standing as he does between
the Treasury and 4Le several coptractors,; is
certain to, bring DOWN ppon him severe pres
sure. His report Viii demonstrate the wis
dom Of lhe law under which he acts, when,
as il, has been, faithfully Administered I ,.,a.
Tie report OF the Commissioners, created
by the Act OF May l, 1862, entitled "An
Act 10 provide a Board Of Con riissioners to
examine GER ain military, claims, and make
an appropriation ior, their, payment here
with submitted, Should command your re
spectlul attention. TbeJ total, amount Of
claims submit ted 10 thls Board, was, $136,
972. 81; Of which sum, the Commissioners
allowed the sam Of $35,93o 98. BY the
provisions of The 4 Ii section Of the. Act, the
powers Of the Board ceased on, the 18th day
Of December last. 10 avoid special legislar
ton, respectfully recommend that further
time be gwen lie Commissioners to adjust
these claims. l7s, n. s.,,i, oec,sg s,t. b.. y.,.
The members or the State Board Of Agri;
culture haye taitb(qlly discharged the impor,
tant duties committed TO them. Their re-
port, herewith, presented, is a document 81
interest and should receive great considers
lion at ypnr hands. Yoh will BE- glad tolearn,
That throughout the Stale, the husbandmap
las received rich rewards FOR bis labor. r. =,
Your attention is invited to the report 81
the Board OF Commissioners Of tbe State
4 IL Nfrl 4.
strict atten ;ionlto duty and gentiernaniy de
port1nent to visitors, has won lor bitnse.f the
profound res pect of sil who know him. 'haI
It will be seen that there has been added
to the library, during the past year, 1895
Volumes, making the total number rs, 1923.
The toniition of the several canals or the