Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1875-02-09
THE GOVERNORS MESSAGE.

IIuOlnS IL upI'SSlule 10 present GN6 OeV~
eruOr's Message in full, we publish the fol>
lowing synopsis The Message commences
with dissertation upon the present financial
depression, sustaining the theory that the evil
may be traced to the fact that the necessities
OF the Government, during the late civil war,
compelled it to issue large number of notes
and, in order to compel their scce eptanco, they
were constituted Illegal teuder" for debt, pub
lie and private; they were not redeemabIe in
specie, in any specified time, and this became
practically, a forced l0an.e The NatiouHl
Bank notes we're subsequently, i&sued-indi.
rectly but substantially for the same purpose.
The enormous mass of these two classes of
notes WAS far too great to be absorbed by the
regular and legitimate business of the country
The consequence was not only a rauid riae in
the prices of all property and commodities,
hut with large surplus of currency sioat -
The spirit Of speculation Became rife The
ordinary pursuits of life sympsthised with the
speculative spirit; people were not content
with the staid, old modes of securing cnm-
Petencc, wealth, aud embarked in bolder
enterprises. Speculative Investments not only
thus kept pace with tho large issues of cur
reUey. and absorbed it, hu. ultimately went
far beyond, aud sought still larger raeans by
borrowing abroad. But the time cane
"htu ihci0 "cIo uIoE6 issues OF currency,
and when more money could be borrowed.
TIE utmost limit of credit had been reached;
rcck less speculation then first received check;
artifcisi values, created as if by magic. began
to disappear, and the frail fabrics of business
founded upon such values toppled over and
fell with crash. The shock was folt in all
channels of regular and Legitimate business
The laws of economy had been violated, and
they were reassertuG themselves in a way
that could not be resisted. And hence stag
nation in business-the reaction of the fever.
ish excitement of previous years This state
Of things will continue until general business
is once more re, established, upou the fupda.
mental rules OF political economy.
The moral effects attending this condition
of affairs has not been more disastrous than
the material results Extravaganza and luz
ury have supPlanted the simpler habits, and
have brought, in their train, many ofTeDses
against morals Money getting has become
the principal Object in life, and the means
of acquisition have not been too nicely
weighed. OEice has been sought for its Pc
cunary reward, and embazzleuert md pecu-
la'inn have become familiar terms Even now
the country looks upon the humiliatiuy spec.
tsole of the National Legislature engaged in
proceedings to ascertain whether anv of its
members have been guilty of bribery or other
corruption. While We may NOT remedy past
evils, as people, We may learn lessons of
economy, frugality and virtue which in the
future will be of incslculable value.
The Governor finds the State financee in a
healthy condition." AN the demands upon
the Treasury have been met, and substantial
balance is left to carry over to the present
fiscal year. 1t is recommended that tire 5
cents tax for hospital purposes be renewed
The last Legislature failed to impose it, cars-
ing reduction, in round numbers, of $50. 900;
hence, the appropriations this year must
necessarily be less than heretofore. This is
greatly to be regretted, for a, least two of the
State institutions need liberal appropriations
for construction purposes.
The laws regulating the public deposits need
revision. Several difficulties arise in the exc
eution of this law, which should be avoided
By legislation. The practice of making ap-
the assembling of the Legislature works a
disadvantage in various ways. A remedy
should be provided.
AS to the Virginia debt question, the lia>
bility of this State for an equitable proportion
of that debt was recognized in the first Com
stitution, and has never been authoritatively
| denied. The steps heretofore taken 70 seenre
the adjustment of this question have availed
nothing. As long as the matter is undecided,
it will be source of annoyance to the people.
The serious aspect of the difficulty seems to
| be to ascertain exactly what West VireiLia'7
proportion of the debt is The attention Of
the Legislature is directed to this point.
The free school system is working success
| fully. Owing to incomplete returns from the
county superintendents, there are inconsis.
t"ncies in the State Superintendeut's report
The number of youth enrolled. last year, was
! 40, 10Y; the number attending school was
| los, 1856; aud the average daily attendance
was 6S,29T. There were 3,023 schools