Union County star and Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1859-1864, 1864-01-08

vhich ia still rasisg. and thus ses,ols psscs to
'ur distracted country.
Il ID our own Cove. nment, aud We could n0t,
without sIoss iudccercy, attempt to refusa it,
;urSency IN payment Of taxes and other debts |
ioe to the Commonwealth. -----.4-a-l
In 1910 the case was very dillersut. The diff
'ulties then arose from the suspension Of epecis
payments BY our State banks, mere local and
private cor poratiobs, aud the STATE very pro |
perry By tbs aet OF ehat year, intended % pro-
vide sgainst loss to its creditors By reason Of
such suspensions An eyigeucy like the prtss1t
could not then have been torssesn b. the Leg |
lslature, and 1t u to be inferred thsssfbss that
they could not nave intended to provide for IT, |
We desive DUR system of public ioans from
Europe, and the true extent Of our obli- |
cation d to Be ascertained BY referring 10 the
known established practice Of European gov |
sfnments prior to the dates when our loans were
Effected. I mean Of course such of those gov
efuments % we're held to have m sintaiped their
natiouA credit. -sM
II is believed to have been the uniform prac
tlce Of such governments to pay their interest
in paper currency, however deprecated. during
. legalized suspension Of specie payments. An
Observable Instance of this is afforded BY tho
course of the British Government, WHICH during
tWony'uS9 yosIss isVm ltce ~ Ao1Ss ou.iue
which the bank was prohibited BY law from
paying out coin for any purpose, paid the In
tefeet On Its public debts In bank notes. which
during gseat part Of that time were n heavy
discount, sometimes amounting 70 30 per cont.
or thereAb0ut Their necessities then were not
greater than ours are nov.
Among Ourselves, ct the present time, Mas.
sAchusrtts (whoss debt 10 believed 20 be very
small) pays the interest in coin Ohio and
Indiana pay 10 currency. In New York It Is
not known what will be done. Her Legislature,
BY concurrent resolution, ordered the interest
to be paid 10 coin to foreign stockholders, in
April last. @
At the present rate of premium ON gold, the
SUN necessary 10 pay on an amount Sufficient TO
discharge the annual interest on the State debt,
this, additional TAXATION to that extent would
be unavoidable. The demands on the Treasury
for other necessary purposes must probably be
such A. to render It imprudent to throw any
part Of this expenditure on tho existing surplus,
To borrow money from year to year to pay the
interest on past loans would, Of cOuBe, be
wholly inadmiesible To leave tho act Of 1861
In force, and attempt to throw the payment ol
this large premium annually on the banks.
would bo not only il.grantly unjust, but quite
imprsCticable recommend the whole sub.
ject to tho careful aud immediate consideration
of the Legislature. Some legislation ought "a
be had on 1t before the close Of the present
month. In my opinion the Commonwealth
will have fulfilled her obligations by rro-
viding for the paymest OF her Interest
In the currency OF the Government II
the Legislature should think &c to con
tinus to pay It 10 coin. 1t will be their duty Il
levy forthwith the heavy taxes necessary
for that purpose. L must In passing observe
that the plan adopted by one Of the States o
paying coin 10 foreign, and currency to domts
tic losu holders, appears to me to be wholly
unwise, and founded on no legitimate princi
pie.
At the close Of the last session, nineteen bill
! renewing the charters of certain banks TO
another period of five years were presented 4
me. Of these l have (for reasons which vii
be hereafter cImmunicatsd,l withheld my Gig
nature from one and approved the remainder
l have been led to sign them by the considera
tons that the banks of the Commonwealth pa,
large revenue which the State can III ados'
to lose, and that In the present condition Q
the country it would be impolitic to drive .
much capital out of active use OF force Il int
new employmente. n-.4 3. ~ s...I s.7i b
II the National Banking syste0 af0fd s06
cient Inducements. capital vill voluntarily tax
that direction. II is proper 10 observe that th
chaxfers Ct most Of the banks 10 Qeesliea a
plrs At an early period. while IN .conskQnenc
Of the Invasion Of the State. during the 1las
GUNNER, they could not have bssn nnsousblJ
expected to give the necessary nOticse Of reneve'
applications for re-charter. d. eiiat .isfi
recommend an extension of the tinla durioI
which the banks are now relieved from penal
ties for not paying their obligations In coin.
The Increased expenses Of living invite attsu
tion to the salaries Of our public oficsEs. Thos
of the Secretary Of the Commonw wealth, Audito
General and State Treasurer, and of the Cleik
In their employment are, in my opinion, to
Low, especially as the exigencies Of the times hav
greatly enhanced the laboxs and respousibili
ties Of all, and In the casa Of We heads of thos
departments, enforce a constant attsudAIcs q
Harrisburg, which Was not formerly required.
Under the Act Of 18th April, 1862. and II
supplement pissed 22ud April, 1863, the Ad
jutant General, Qasrtemastsr General an
lCommissary General have been acting as th
Board Of Military Claims. They have, up {
this time, approved claims to the amount Q
$l66. 4l5 81, and others have been already pr
sented to the further amount of $3.50, 120 2!
which have not yet been acted on.
Under the Act Of 22sd April, 1858, (P.
529,) the Court Of Common Pleas, appointe
three appraisers to ascertain the damage don
10 the counties ON the Southern border by th
militia called into servics in September, 1867
BY the Anderson Cavalry in the same month
and BY the Rebels In their raid on the 10th an
ll,h october. 1862.
The Apprai5Brs have not yet completed tn
performance of their duties. When their n
port shall have basn made to the Court of Con
mon Pieas and affirmed, 10 whole or.in part, b
that court, It win be tho duty Of the 0overnl
to claim the payment Of the amounts from II
General Government, and on failure 70 secul
the came, then to report to the next Legal
ture. recommending such action a. he ma
tdesm just and proper. r
The expenses of the Transportation and Tel,
graph Department duriog the past year hav
been a. follows: -
Paid tout Of appropriation made
by Military Loan act of 1861 .$l3, ,65S
Unpaid (the appropriation being ex-
hausted) Observation-Disclosures. Is, 764 Z
Outstanding liabilities, estimated at 5000 Q