Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1870-12-09
GOVERNORS MESSAGE.
EXECUTIVE CHAMBERS.
Richmond. December I, IoiU.

which devo7ed graver responsibilities than
upon you" This opinion was expressed 10
YOU in my inaugural address at the opening OF
your first session, and | desire to reathrnl 1t
now, ut tho commencement of your last session.
How you have met those grave responsible
ties" is matter ofrecord. Your present session
will complete that record upon which the pub
lie judgment, the judgment OF your constltu-
epcies and Of posterty, will be formed. While
you have done some things which, 10 my judg
meut, you ought not to have done, and have
left undonc some things which you ought 10
have done, nevertheless the ninety days OF
official existence remaining to you will afford
ample opportunity for correcting the former
and pertecting the latter. Coming together as
you die, young, and, to some extent, an IL
experienced body of men, with a Cew and
somewEst homogeneous constitution TO put 10
force working radical changes in almost every
department of the government with nearly
every Office in the Commonwealth, from con-
stable to Lieutenant Governor,to I'll! with an
imperative neoessityitor the Immediate modlh
cation OF nearly every statute IN the State, and
the elactmcn: Of many new ones; With an
impoverished people, suffering from the terri
bic Ills of a four years devastating war, anx-
iousiy looking to you for relief, without
perhaps. n proper consideration OF the !lmlta-
lions of your powers contained in the constltu
ton with vas! variety OF public and private
interests demanding your attention. you may
we'll congratulate yourselves that with all this
variety and multiplicity of important subjects
demanding your prompt consideration anu
action, you should have been able to accom-
plish so much with so few errors. lime enough
remains TO you to correct whatever errors may
have crept into your legislation, some OF which
nd tn
laws as may be required to put the constitu
ton fully into force, and to meet the wants and
necessities Of the State and tho people.
FINANCES.
One of the first, as we'll as one of tho most
important subjects which should engage your
attention, is our State finances. The reports
of the Auditor and Treasurer exhibit the re-
ceipts and disbursements for the last fiscal year
and the condition of the Treasury at its close.
These reports, however, afford DO just crlter-
ion by which to judge OF the future. The new
system of taxation inaugurated BY the Constr,
tuition, and which you put in force by leglsla'
ton at your last session, is not yet IN iull oper
alton, and our experience under 1t Is too brief
to form an accurate judgment Of the results OF
this our fist experiment. The new assessment
of the real estate in the Commonwealth will be
completed this month. From this aud the
returns made to the Auditor under the two
acts approved June 26th last, aud entitled res,
pectiveIy, San act in relation TO tho assessment
Of taxes on licenses and IAN act Tor the as
sessment of taxes, and the act approved July
9th last, entitled IAN act imposing taxes Tor
the support OF government and Tree schoo!s,
and 10 pay the interest on the pubic debt.
you will be enabled to obtain very correct data
upon which 10 base your action upon the SUD-
iect of future taxation. You already have my
views as to the amounts necessary to be raised.
On the 9th day of March last | su omitted to
YOU full statement of the financial condition
of the Commonwealth, together with my OVID
! views as to the policy which ought to be pur'
sued. Further thought and reflection have
&C, rvI ~ uo.GEr-> I'D a.-ore. my onnfidanca
| in the correctness Of the recomme ndatlons then
made. They have been heartily endorsed by
| the best tinanciers of both this country and
| England. Had the Legislature promptly
| adopted them, | am satisfied that not only
| would the State debt have been reduced over
ten millions OF dollars the present year. and
our deprecated credit advanced from hlty to
eightv-6ve or ninety cent: on the dollar, but
also that much of the cost aud irritation Incl
dent to some of the special legislation OF your
last session would have been avoided.
I earnestly invite your attention to those
| recommendations They each and ALL form o
part of the general plan for our reliet from the
great evil that depresses U.s. dlshonored
State credit When the 10 y poilIc becomes
disordercd, learned and patriotic doctors arc
never wanting, each Of whom has some so7er,
| elm specific which he magnanlnous!y and
persis.enty urges upon the attention CT the
| sufferer. Some are acluated hy the sole anu
sincere desire to benefit the patient, wh:c
others, with loud protestatlons OF like desire
iu rendering their new and questionable most
runs, have always keen eye Tor personal
gain and future aggrandizement. Our patient
! has not been free from these attentions
Numerous remedies. some OF them new and
untried, have been freely suggested. La lny
| opinion there is but one sovereign remedy Tor
| the evil which sfHicts us, and that remedy Is d
strict fu!6!uent Of cur solemn obligations.
| Heretofore, since the close OF the late war, and
until the restoration Of civil government IN the
State, we wcro powcrless to adopt this remedy;
but the time has now arrived when we ought
aud must apply it. Some deem 1t advisable
| to inaugurale the resumption OF the payment
of interest on the public debt by paying three
Der cantym interest the first year, tour the sec
| ond year, five the third, six the fourth, seven
| the fifth and so on, increasing each year unit!
! all tho deferred interest shall have been paid,
and then resume the regular payment of inter
est as it falls due. While this plan would not
fully accomplish the desired object, viz: COM
p!ete restoration of the State credit, because 1t
would not be tuii ment either in letter or spirit
OF the obligations of the State, and because
it would nccessitate the payment OF interest
upon the deferred interest, and thus COM
pounding it in order to finally and FULLY meet
what would be Justly due. ard would thus
become an Increasing burthen from year to
year, until tho resumption OF the regular
payments Of interest according to the contract ;
nevertheless. it has the merit of temporary
relief to our people and upon the principle
that halt loaf is better than no bread, "
would be manifestation to that extent OF our
intentions and desires to meet cur obligations
as rapidly and fully as circumstances would
permit.
Another proposition entertained by somo
is that the State should only pay four per cen
tum interest per annum until the State of West
! Virginia assumes her just proportion of the
N, 49,