The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1875-01-25
TIE GOVERNORS MESSAGE.
EXECUTIVE BgpARr,IrST
CuARLEs7oS, Jan. 10.
GeNtlenlea cfthG Senate aud House Of

You assemble al limo Of general deprcs-
BIon In business, and although you can do
nothing by legislation, to mitigate the eTils
incident TO this state Of nffIiS,y yet In comrnu.
nicatlng TO you the condition of the State rs
required by the Constitution, caunOtignore
u fact so aE-Tcaehing in It's effects. The best
minds Of the county hRyeinGuired into the
causes Of and remedy Tor, this prostati0n In
business, hut have reached widely different
conclusions. The causcis certainly not TO be
found In the elimination orthe productions Of
the country for the farmer, manufacturer
aud miner have from year TO year gradually
decreased their produSls. This was especially
the case IN our own State during the past
year, where ibe crops have been abundant,
and miniugand manufacturing facilities hare
been enlarged. And Il Is matter Of som
graduation, and at the Same time 40 evidence
Of the substantial basis and conservative
character Of the businsS1 OF the State, that az
yet there have been few, ifGny failures among
our manufactures, bankers and commercial
men, Notwithstanding the general urrntistac.
tory condition Of financial Affairs. Are We
10 trace the financial depression 70 falling
OF In the accustomed demand for articles
produced, or in other words, 70 the Wlpt Of
the usual mAFlGt2 Its fact that the de-
mand for the raFlons articles that make tina
wealth Of the country. has declined, and
many hold 10 the opinion that THU want OF
demand iswholly dne 10 an insufficient sup
ply Of money; that The circulating medium
Of the country Is not large enough 10 effect
the EXCHANGES between producers and coESu-
mefs, and Hence EtAEnaii0n In business,
Their remedy Is simply to enlarge the value
OF currency by additional isgIsI Ct paper
currency. The amount Of money that II Ry
be needed al any given time cnn never be nc
curAtely estimated Ito quantity and value
are governed by tile same ruleI that apply 10
oil other things Of value. The commerce Of
the wbrld supples II where It is insufficient
and takes II away when In excess Com
rnCrce alone can regulate and adjust The re-
lati1ns between itssUpply and demand. Leg
islAtlon can neither create money, nor for 9
long period, disturb It's natural relations, or
establish artificial valued. The civilized
world has accepted gold and silver as current
money, aud no single government can sub
stl.ute anything clGe for them. No matter
what expedients may temporarily be rrsortsd
to, In course Of time all market values mutt
be estimated in tho precious metals; they
constitute the standard By Which all wealth
Is measured, and paper currency, whether Is.
sued by banks or governments, cannot escape
tho inexerablc, inevitable rule Of being meas.
nrcd by this standard. Therefore, M gtnbls
financial System can exist that has not gold
and silver for its foundation; md any policy
that may be adopted, must lo0G 10 this end.
How this object Is 10 be accomplished With
out injustice 10 tho debtor claSJ, Is the grave
problem that Is yet 10 be solved by the |
country. conceive, however, that our pres
cnt evils must be traced 10 more remote eau
SEES. The necessities OF the general govern
ment during the late civil war, compelled Il
TO issue large number offs notes 10 circu-
late as money, md In order to compel their
acceptance by The people, 1t made them
legal tender for debts, public aud private;
they were not redeemable in specie in say
definite time, and this became practically gu
enforced loan. Tho national bank notes
were subsequently, Issued Indirectly, hut sub
stantially fol the same purpose. The enor.
nous mass OF these two classes ofnotrs was
far too great 10 10 absorbed BY the regular
and legitimate business OF the country. The
consequence was not only rapid riso in tue
prices ofall property and commodities, but
with large surplus Of currency Ahoat, the
spirit Of speculation became rife, Men, under
The btwildering and bewilChiug hope Of sud.
denly acquiring colossal fortunes, projected
vast Schemes, which In ordinary times would |
require Tue accumulated means Of many years
labor 10 execute. The ordinary pursuits Of
life sympathiEed with the speculative spirit;
people were not content with the slow old |
modes OF securing competence or wealth, and |
embarked Ia holder enterprise, Speculative
Investments not only thus kept pace with the
large issues Of currently and absorbed Il from |
time 10 time hut ultimately went far beyond,
and sought still larger means by borrowing
abroad. Under these circumstances tic
ecunlEy seemed 10 make rapid strides in
wealth; in decade It's resources m cared
almost doubled, notwithstanding tie exist.
enee Of dcVasting war. Butitis too often
forgotten that In the meantime vest debts, M.
uonAl, state, county. municipal, corporate
and individual were accommodating. And II
an account were stated with the increase Of
wealth on one side and It's indebtedness on
the other, fear the balance shown would
not accord With current opinions But The
iimo came when there were no more issues
Of Eaper currency, and when nonore money
could be borrowed the utmost limit ofcFCdlt
had been reached reckless speculation then
frat received check artificial values, erra-
ted ne llby magic, began 10 disappear, and
tie iFuil fabrics OF business founded upon
such values topple1 over aud fell with
crash. But 60 interviewer arc all human At.
fairs that tho shock which shiTeted thtsc nero
visionary speculalions, was felt 10 all chan.
nclO Of regular and legitimate business, and
Affected them more or less disRstrousIy ns
they were dependent upon Esch speculRtionS.
The laws Of economy had been Violated, and
they were renEsertlnE themselves In q way
that could not be resisted; and hence stag
nation in bnSincsa--the Reaction Of the few
crlsh excitement ofprccedinE years AID
this state Of things will undoubtedly conlin.
ue until general business Is once riore re.
established upon The fundamental rules Of
political economy. The moral eifrctI Of the
condition ofafhifs during the past fSw years
have NOT been less disastrous than the nate
fial results. Extravaganza and luxury have
supPlanted the simple habits Of our fathers,
and have brought ii their train many Oiirn-
fei against morals. Money getting has be-
come tho principal aim 10 lie, and the means
Of acquisition have not been loo nicely
wtighLd--success In this field has been the
ample Bhield 10 cover questionable modes Of
accumulation. 0lllCc has been sought for
It's peeuniary reward, and embczzlenient and
peeulation have becomt familiar terms. Even
how the cOnniry looks upon the liumiliatlnF
spectacle Of the National Legislature cnEag-
cd in proceedings to ascertain whether any
Of itsmemheIs have been guilty ofbribcry
or corruption. While wo may not remedy
past evils, Rs a people We may learn Lessons
ofteououiy, ffugallly and virtue which In
the future will bC Oiincalculable value.
The TcpaEtg Of the Auditor and Treasurer.
which Will be laid before you, glyo the con.
dillon Of The Treasury for the 6ical year end
lhg Sept. 30, 1874, as follows.
Balance Ia Treasury Oct, !, "a s24s, 600 So
Ro'pts FINAL sources dur'g year co., 9Ii II
,hAg c.,