Daily press. [volume] (Newport News, Va.) 1896-current, 1910-01-13
URGES LEGISLATION TO
REGULATE STATE BANKS
Needs of Accounting Department and
the Building of Good Roads Also Re-
ceive Attention at the Hands Of the
Executive-Recommends the Con-
tlnuance of Convict work on Roads.
(Rv Associated Press.l

hlCHMOND, VA, Jdu L. ~
Virginia legislature orened at noon to-
day with the usual Democratic ma
pority in 10th houses and perfect par
ty harmony prevailing. Richard
Evelyn Byrd. of Winchester. chos,
speaker of the house at the Democrat
is caucus last night, was duly elected
as were as were other officials named
by the caucus.
Lieutenant Governor J. Taylor Ell
Tyson presided over the senate. The
few Republicans have named John
c. Noel. of Lee, as their floor leader
in the senate and c. S. Pendieton,
of Scott, as house floor leader.
Mr.. Byrd, in accepting the chair,
announced a policy of necessary
economy and declared the equailza-
ticn of taxes. TO incease the states
+. venue. to be the paramount rsae
in Virginia.
Regulation OF state banks and the
building of good roads are two OF the
most important recommendations OIL
Governor Swanson in his last annual
message to the general assembly,
read before that body today.
Bank Regulation.
The many losses. the great DIS
tress and the business disturbances
occurring in many communities OF &C
count of bank failures, caused by reck-
less banking. fraud and defalcaticns
loudly proclaim the urgent necessity
for legislation providing reasonable
regulation tor the control of State
banks and frequent examination 10
see that these regulations are obey
ed" says Governor Swanson, in his
message.
To provide annually a fund of s2So.-
geo for road improvement in Virginia,
the governor suggests that one haii
of the revenue derived from the iran
chise tax uron the gross earnings o.
the steam and electric railways OF the
state be set aside. He recommends
continuance of the present policy OF
king cOnvicts and jail prisoners
upon the public highways.
Declaring taat Virginia's agricul-
tural products last year ar c1nted 10
secs. coo 900 Governor Swanson urges
the necessity for a complete soil sur
vey OF the state TO promote its asri-
cultural development In this conntc-
tion. he also recommends the estac-
lishment of several movable agricui-
tursl schools to teach farmers practi-
cal. scientific farming
Pointing with pride TO the fact that
Virginia has been reducing steadily
her bonded Indebtedness. and thst
onc-sixth of the debt had been cancell-
ed Governor Swanson urges economy
in all departments o. the state gov
rrnmCDt. but SAYS that the best IN
tercsts of the state demand that toe
many proxI essi-e policies begin
should be contiI ued and further en-
larced.
The Message
The governors message. IA part
follows:
TO the General Assembly OF Viz
ginia:
The last general assemblies have
been noted for the many progressive
policies insugursted- These extend
I'd through a wide range OK govern
mental effort and development The
results achieved have fully vindicated
the wisdom OF these policies and amp
Is justified the expenditure OF public
money made. The amazing education
al advance: the splendid public school
buildings now adjoining every section;
the increased health and comfort OF
the people. the great Improvement tn
agriculture ami the varied industries
81 the Sta.e: the increased efficiency
Of the state militia: the marked TN
2rovcment IN the condition q Jaiis.
aInshouscs and other eieemosyuary
institutions. the greatly Increased
value Of all properties. bear test
mcny TO the stimulating Influence Of
these wise acts 81 legislation and TO
the great and manifold benefits they
r.sr.n -.