Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1866-12-07
GoyERTop. pEIRpo1HTs MESSAGE.

lst October, 1866, 1884, GOT Sc, we have the
aggregate Of $l,563,2S6 Sc. He estimates
the expenses Of carrying on the government
up to lst October, 1867, at $4,000. This
would leave balance in the treasury of
81, 053,2S Sc.
The estimate Of expenses is liberal, including
appropriations for carrying out certain recon-
mendations contained in the message: Tho
public debt with the interest funded, will
amount on the 1st day of January next to
SIS, 1888, 679 81. Deducting amount owned by
sinking and literary funds, $2,377,6Sl 60, leaves
balance for which interest is to be paid Of
81 ,O05, 997 ST. The Governor urges that
provision be made at once for the payment of
this interest at all hazards. He says it will re-
quirc an additional assessment on property, real
and personal, Of about 46 cents on the 500,
which added TO the II cents on the 500 now
assessed, will make 90 cents on the 500 re-
CURED to pay the expenses Of the government,
necessary appropriations and interest on the
public debt The Governor combats vigorous
" the idea Of scaling Or rcpudiating the public
debt. Barring the morality Of the act, he
gays, 'no step would be 50 prejudlcial to all
our future interests as serious discussion OF
the subject. 70 commit the deed would be to
cut off all private credit from without the State
and erect bar to the future influx OF capital.
He adds-;If so fatal step should be taken,
no gentleman would hereafter be particularly
anxious when abroad to be recognized as q
Virginian. ....
We extract the following paragraph III re-
gard TO railroads:
II attach no value for revenue purposes to-
the stock held By the State in the James river
canal, turnpikes and bridges, and in railroads
commenced but not completed. The State
owns about fifteen millions OF dollars in stocks
and bonds Of railroads in active operation. -
These roads, by prudent mana cement ought to
WELD dividends in few years sufficient TO pay
the interest on that amount OF public debt. l
have no doubt that, if the General Assembly
will authorize it, III the course OF two or three
years, tho stock and bonds held by the State 10
these roads can &c exchanged for their full
amount in the stock and bonds of the State,
and | unhesitstingy recommend the passage Of
a law authorizing their sale. The act should au
th0rize the sale OF the stock and bonds Of the
Virginia and Tennessee, Southside and Norfolk
and Petersburg reads together; and OF the
Richmond and Danvillc and York river roads
together The Orange and Alexandria and
the Virginia Central roads might be sold scpa'
rately All these roads, under the management
Of private companies, would soon yield hand
some dividends and make the investment profit
able.
He thinks that BY proper legislation, the oy
ster tax can be made to yield IN annual revenue
OF more than $500, 900.
Of the militia he says that there are one
hundred and thirty.six regiments OF militia OF
the line, Of which number one hundred and
seven have been organized the remaining
twenty-nine are in process OF organization. lie
makes recommendations in regard 10 the + enl-
Tertiary, terminal charges the yagrant law,
and registration OF freedmen. ....
lie thinks all Laws interfering between crcdi-
tors and debtors subject to objection, and says:
''There is danger in passing stay laws that
look TO long postponements OF executions, that
they may be construed by the courts to co,ae
under the constitutional prohibition against
impairing the obligation of contracts. L be
lieve the Legislature has full power over the
subject of priority Of liens, aud | thirk the
great error in the law OF last winter was IN
failing to abolish the priority OF Judgment
liens and placing all creditors on an equal foot,
ing. The law, as it stands, has only provoked
suits by the more lnportunatc creditors. Put
we must now lock to the future, and it strikes
me that it would be wise. and perhaps the
courts and creditors would concus IN the meas
ure, to direct the further stay Of executions
upon the payment by the debtor of the interest
and twenty-five per ccntum OF the principal
within ninety days from the first day OF Janua.
W. 1868, and 4 like sum, with the interest each
ensuing year.
His Recommendation On the subject Of inter
est is that, where 10 contract is made, six per
cent. should be the legal interest, but that
higher rate be allowed by contract in writing.
lie recommends the repeal of all laws III re-
gard to county reads and county lcTics and
chat an act he passed to place the burden OF
the county and poor lcviGs On property liable
to State taxation, &c.
The Governor warmly advocates the adoption
in Virginia Of the comnon-sch0ol system. Tic
charges that the masses who derive no benefit
from our colleges are taxed to support them
He adds:
Tho subject OF The education Of The freed
men is attracting great and deserved attention
all over the country. 1t is admitted, on all
hands, that if the freedman shall be made
valuable member OF the community, Ii must be
done by affording him the means of intellectual
culture an gratfed to be able 70 state that
considerable sums Of money have been raised
by benevolent societies Of the North for this
purpose, and that number Of schools for the
education of freedmen are in successful opera
ton in the State 1t is proper and just to
these benevolent associations to add, that in
addition to the treedmen's schools provided by
them the Soldiers Aid Society Of The North
have established in this city schools for white
children, provided with competent teachers,
which are now prospecting, and where upward
of three hundred children are gratuitousIy
taught
he states that the land scrip donated by
Congress for the creation Of an agricultural
college has not yet been delivered to the agent
appointed to receive it, but believes 1T is now
nearly ready for delivery" 1t remains with
the Legislature to designate the location of the
;,.t;+,,t;on 1,bich cb III rocaiva tha hnneit of