Historical Newspapers of South Carolina

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"GOVERNOR'S MESSAGE. | "s ! EXECUTIVE DEPARTMEUT, ; L ? November 27, 1838. FeVew Citizens of the Senate and House of Representatives, $nce your i.?st meeting we have had rcu. son-to be gratefulfor many blessings of a kind Providence. With one unfortunate) exception, every quarter of the State has been fivoured ovith an unusual share of health : and the industry of her citizens in the cuhire of the soil is rewarded, if not with an overflowing harvest, with enough at least to satisfy their reasonable desires. In the dsfress and embarrasmen's of the nns* it is to bo hoped they have learned a r -- . lesson of frugality and prudence for the tulure. Tc husband w til economy and enjoy wi;h moderation, is the best return we j can make to the Dispenser of good for the favours whici His wisdom has conferred. When we vere lately convened under these walls, the hand of affliction was heavy upon us. 'Enterprise was palsied, Commcrce was prostrated, the circulation, the life-blood of Commerce, was tainted with insecurity and disorder. Our agricultural interest felt deeply the general distraction : its products were depreciated to a degree that left to the dispiri ed planter a bare ro^ muoeration for his toil. I am happy now to join with you in rejo:cing at the commencement of a better state of things. We have weathered the gale and the sun shines again: clieerfulnossand confidence are restored. Credit is re-estnblished ; the Banks iiavo resumed the punctual fulfilment of their obligations; trade has returned with life and vigour to its wonted channels, and our crops, reinstated in value, are again be. come a fund of prosperity and wealth. The Bank of the State, well and judicious. |y cpnducted, continues as heretofore, to be a source of advantage to the people, and pro-fit and convenience to the country. For a full and detailed statement of the affairs of this Institution, I beg leave to refer you to the President'* report, which is nerewith submitted. Ttie nett profits of the last year are one hundred and ninety-six thousand five hundred and thirty dollars, ($196,530.) A great impediment to the freedom of its operations, has been removed* by the general resumption of specie payments. For the condition of the finances of the Si^te,and of the surplus revenue teceived from the General Government, you are respectfully referred to the report of the Comptroller, general Of the affairs of the State Banks generally, I have obtained returns, the substance of which is presented to your consideration in a condensed report, The result is that they are prosperous and safe, well entitled to your approval, and to the confidence of the community. The total amount of Banking Capital in the State is $9,153,498 46 Tho linhilities of the Banks consist of Notts in circula'ion 84,566,327 G2 Deduct amount of each ethers notes held by the Banks, and not in circulation 566,025 19 i . 4,000,302 43 Individual dc? posites 2,732.583 37 Bal. due to Bks 1,308 206 59 Otherliabilit's 1,921,127 93 5,961,917 89 Total 89,962,220 32 To meet which they havo Specie, 2,000,149 61 Real Estate, 365,780 03 Stocks, " 1,090.936 34 Balances due by Banks, 1,393,861 65 84,850,727 63 Foreign and Domestic Exchange 998,909 85 Notes discounted aadbonds 14,379,110 60 820,228,748 08 Tn fl/Mitmn fn nhrtVA S^PlirifV td tfiA ... ~ ~ j community, the Stockholders of the Banks pother than the Bank of the State,) are bound in their individual property 815,994,360 00. The care of the State Militia includes a large share of the duties of your Executive. I have therefore held it throughout the term of my service, in especial regard, and have wa'ched with much solicitude the operation of the several provisions you have made for ihe improvement,of this important arm of defence. . I have reviewed every Regi. ment of Infantry in the State, (46 in number,) and six-out of the seven Regiments of Cavalry.'' To the much wit and sarcasm thatingen. uily has arrayed against the Militia service, it would be quite out of place here to answer. The soldier of twelve days in a year, will hardly be compared, in skill or discipline, with the soldier by profession, and by the practice of a lifetime ; but if t e best mill, tia are only very imperfect soldiers, what would you expect from the worst ? And let it be remembered that, good or bad, ig.norunt or intelligent, spirited or without 1 spirit, as your wise or earless legislation j 'nrinv ? OLnt tho f*i milifin nrfl still VOUr ' only means of protection. In the appeal to 1 force, which every state pretending to the s character of independence, must be prepar. F ed to m?et, they are your only argument, J und you must make the most of it. The > ti militia are not unimprovable. They have ti improved and are improving. In many o parts of the country the Militia are every :i th:ng that could be reasonably desired. This lo excellence has generally been the result of A the spirited exertions of individual officers, ei whose zeal and activity deserve to be eu- sf courageJ * by the Representatives of the \\ lS ate. \Wn this species of public service R .shall bo rewarded with its proper measure m of approbation, the difficulty will at once m cease of maintaining a well organized milL ih ti'a. ' - )* . - - I he The system of encampments has wrought i its '??r hftcn SUO ' rv! i 111 *?agw 1 i that the inconvt niences still arising from <2e- rot fects in an experiment compara'ively new, is i should only urge us to a diligent inquiry for i he the means to obviate them. In this spirit j wc I beg leave to recommend to your consid. oration, 1st, the purchase of a suitable pa. an rade ground for ?ach brigade ; and 2nd, the of issue of rations to officers attending encamp. th< ments. The first ot these propositions, Cc though apparently of little importance, will nu be of essential advantage in effect. At pres. wl ent the convenience or caprice of individuals to may at any moment defeat the orders of to the Commander in Chief, and frus rate the CI intentions of the Law. The adopiion of M this measure will also "give an air of perma. hi nence to the system: The issue of rations to will relieve considerably the burthen or'pri- ?r vateexpense, in attending theencampments, cc and will initate the soldier into a depart h< mei.t of military affairs which it is some. ; sc what 'important he should understand. It 1 m will also tend to the better ordering of th? ! th ?r>,l .. ui t!w> onfirrina nf'tn uuu in luv/ruiu w j ,? discipline. Estimates are herewith submit, j b< ted et the probible expense of this prov s-j to ion, which is in my opinion too small to be ! w weighed against its many advantages. I. i tit is also very desirable for the perfecting of ; g< our military system, that a digest should be | made of tho Militia Laws,suited rather for \ p( the instruction of officers, than the refer- pj ence of lawyers. The Adjutant and Inspcctor General presents a combination of (|j education and talent especially well adap- ai ted to such a service.?For this purpose m the Adjutant General might without mator- tc ial prejudice to his other duties, be relieved g for one year, from atttcndancc on the re. {Q views. jc In regard to our fire arms and other mil., j ^ ni'ions of war, circumstances have induced me to institute a thorough examination; jp which has resulted in the conviction, that C) we should depend as far as possible Lr our Sl supply of these articles on ourselves, or on ; ? source.- witkin our controul. I have the ! ^ ViAnnp tn QiiVmif tn vnn thp renort of a Board ' ."".w. ? - r ; j in of Inspecto-s, appointed to examine the 0 arms and emmunition belonging to the ? State, in the arsenal at Charleston. It ap- j (j pears that' he ammunition obtained generally i from abroad,is not to be trusted in, frequent-:. I ly containing peas and corn, instead of]ir i buckshot and the like frauds. The j v I Muskets? as well thoso imported from j j England, and from the North, as from ! S( | the I'nited States factories?are, for the j j most part, good for nothing, and dan- | ^ gerous. T ie old Cartridges have by ; ^ I my] order been all broken up, and a full " I supply, of very superior quality, has ; been prepared by Captain Charles Parker, S' ! of the Magazine Guard, at Charleston ; but tr | in regard to the arms, I have been able to 0 ; do nothing mote than exercise extreme vig- ?! j ilancc in purchasing. It is due to the Uni- Ir '*'1 dmn.nmnnt BP If IM1 I r?/?rrf? thnt " f ICU Uiai^-5 kV wvnuvif ivvi^w uiwb . ! the objectionable arms received from their ! factories were oromptly exchanged foroth- i' j crs. These last have not yet been thorough- 1 11 y inspected, bat there is reason to fear that a ; they are much better than those returned. e' The affairs of the College are in a condi- ?' fion to fulfil the best wishes of its friends. .4 This Institution has exercised a vast iiiflu. u< \ or ence over the character of the State, and I . believe is destined to be its palladium of CI safety, amidst the popular commotion which e-' too frequently agitates all free States. The w knowledge acquired, and the friendships m contracted here, will be stronger than pop- 0 ular violence. Those who hive formed good opinions of each other when they were ^ associated together in the intimacy of unre- , served communication, will retain and cul- , tivate a spirit of liberality and forgiveness, ( even in the heat9 of political hostility. Our wise and prudent ancestors could not have devised a more noble and effectual means T.a of perpetuating their glorious influence over the destinies of their country, than, by the establishment of an Institution of literature m and science, under the fostering care of the m State, in which their precepts would be valued, and their examples appreciated.? - 1 This Institution should be a primary object .0I of State policy and popular pride. It is the J?1 Institution of the people, and for the people. ( It is theie they must acquire the inteliigence fl,.j to govern themselves. The Legislature ,. should not hesitate to make any nppropria- V tion which the interests of the College may require. The number of students is rapid. L ly increasing, and is now far beyond any ex' former precedent. The present number is 2el about 170, and it will probably be necessa. SUJ rv, before long, to make a still father addi. or^ tion to the buildings, for their comfortable as accommodation. The Library though res -v pectablo, cannot, be compared with several Pr( attached to other Universities in the United ac| States. Great scholars and erudite writers must have access to full libraries, to maka C01 their labors useful, and their productions pec accurate. The S:a:e should take a pride 'n 1 in affording this facility to them by having out a Library which will give it an interest in tbe estimation of posterity, and in the eyes i rat* of intelligent foreigners. With a view of 'cor attaining this end, I beg leave to recommend I 'ne to the Legislature an annual appropriation, 1 for the purchase of books for the College Library. and The Free School System, as nt present m0' conducted, does not appear to fulfil the belevolent purposes intended to be effected Pra< Dy its establishment. I would recommend t,m< he appointment of a Board of Commis- deal doners to enquire into this subject, and re? UP<? >ort to the next Legislature. ecti< ' nfll It is the privilege of an intelligent and vir nous people, that the force of its Legisla. | P . on may be diverted, from the mere defence f the life and liberty of the citizen, to the nprovement of his property, a?d the en- P^'" irging of his means ot enjoying life.? u .mongst the noblest examples of this ex- res * cise of legislative wisdom, stands the an a dendid project of comn unication with the jP fest, overleaping the barrier of the Blue j 1 idge. Cost what it may, South Carolina ve^e ust achieve this work. Socially com- Portercinlly, politically interested as she is in 0 e cementation of Southern interests, she Tl ;trayes iierself, if she allows a doubt to the C mg over its success, or lags irresolute I the al h;,e the pr:ze is?na!che-J hv-n more vign.1 here. is and enterprising hand. Her prosperity dt involved in it: her honor is bound to it: cc r character is staked upon it, before the of >rd. re Tho measures which have been adop'ed, v< d the progress made in the prosecution ; w ihis enterprise, with full information of 1 ci 3present condition and prospects of the j bi >npnny, will be found in the second An- | 01 id Report of the President and Directors, j y ich is herewith transmitted. In addition I 1) frits interesting paper, I have the honor: c; nvite your attention to a Letter of the ! v aef Engineer of the work, Maj. VV. G. | s (Neill, in reply to inquiries addressed to v n, on several important points, in regard a vhich his ability and professional skill are rI titled to the highest authority. With the q nfidence of full knowledge and experience, p .'pronounces on the practicability of'tlio p heme, in a shorter tima, at a cost more a oderate, and with more abundant profits, j s HQ many even of its well wishers have veil.! il red to anticipate. But whatever might I c 2 the expense or difficulty, we have gone ; c o far, we have promised too much to ?ho j v rid. to retreat with dignity. Our ques- | a jn should now be, not whether wo shall j e 3 on, but how. j i; Since the publication of the Annual Re- u )rt of ihe Direction of the Rail Road C'oni- >' tny. the South Western Rail Road Bank S is been organized, and will go info imme- d ate operafion, under the most favorable " ispiccs, and with every prospect of pro- j j' iDting the success of the great enterprise j " 1 which it is intended to be auxiliary. The ; 0 ank must be of inestimable value, as well j the stock holders, as to the country. Act. ; )' ig under this impression, and desirous that, c ic S;ate might not lose her privilege of s irtia'pating in the Revenues of the Bank, h that policy should be approved of, 1 con- q sived it to be my duty, in concurrence? with ti ich of the Commissioners representing the b tate, as could be conveniently consulted T ?fore the closing of the Books, on the 8th n 4/v n,n|,A n ^nrulmnnal SuhsCriDtion, I 0 IMUlJlj iu muav u ? ( n behalf of the State, for Ten Thousand J t hares in the Bank, subjectto the approbu. a on of the Legislature. o Following in the same spirit ofdomestic, P nproverr.ent, which you have wisely led, I J enture to suggest to your consideration, a ' jeasure fcr the developement of our re. * jurces which does not appear to have been . ) much tppreciated by us. as by other I tates of equal intelligence. Extensive j n Geological Surveys have been instituted, j 0 nder Iegisativc sanction, in most of the . few Eng'and States, in New York, Pcnn. " idvania, and Virginia. Besides the con. 0 ibution to Science, the direct advantage ? f these investigations, ha9 been so obvious 1 3 to diminish the expense, by comparison r< ito almost :io'hing.?The Mineral res uroes of each section of -country have l) p;en brought 'o light, and made available. ^ lines of buried wealth, of every description, f ave been exp.ored, their, qualties aseer. 's lined, and their uses pointed out. The Hthausted soil of Lower Virgiaia has found i elixir of new life in her long neglected ids of Lime and M rl. Even the Gran- v ? Rocks of Massachusetts have been clas- R id, and each variety examined, and pre? J a scly located. The fruit of this enlight. | P led labor is seen in the blocks of masonry i ~ hich have been brought over a thousand n ii!cs of Occean, to adorn even the streets j* F Charleston. But, as I propose raiher to Ivise with you, than to direct your conn. 0 fls, J leave this bare suggestion to your " itter intelligence. I will only remark, that i. e survey instituted some years since, un- J ir the charge of Professor Van Uxem, as rather mineralogical than of a general Jological character, and therefore tended j ther to entertain the curious, than to enjhten the steps of practical indus'ry. Upon the general condi ion of our com_ J. on highways, it is hardly necessary to re. ark. That it cannot possibly be muc!: arse is I believe generally acknowledged, j . lit Road Laws are very impefectly en-1 reed, and the system appears to be very j innrfiv?? in if colt*. Thti uneoual distribu- i _* 'I'VtlWVk *" 1 n| ?n of the labour, the unskilfulness of the g perintendents, and the manifest interest of who are snbject to road duty to do as tie of it as possible, are defects very suffi-1 ?nt to account for its miserable success, j g it, as the Legislature has more than once pressed its disinclination to attempt any aernl reform in this matter, 1 will only ?^est the propriety of encouraging the janizat o i of private turnpike companies well by the grant of liberal charters, as participating in their expenses and Pr in such proportion as to secure their ?? ive co-operation. ^ The condition of our navigable water- w irscs naturally suggests itself in this con. (Q :tion. Large sums have been expended their improvement, but heretofore with. Jan adequate return ;?perhaps, because cQ system was not vigoriously followed up, ler than from having been injudiciously Jje nmenced. The Broad River is a prom, nt illus ration of this?ono of our streams pd( lie largest class, dividing the centre of ^ State. Between the Columbia Canal ! Lockhart's shoal, and thence to the; jth of King's Creek; in York District, i e are several rapids, at low water im. wa :ticable for the smallest craft, and at all ^ 2S diflicult and dangerous. A good , [oflabor lias already been expended en( n these obstructions ; but frotn the er- pu| on of Dams, and the casual disturbance ftJj le bed of the stream, added to tlie im- gys 'ections of the original work, the navL I ,'u{ on is becoming annually more difficult.! -p[ 5 instance has been brought more es- cj ally under my observation than others, ajj :he case is probably the same with the > tra( To enable the Legislature to ap, ly | yVt dequate remedy to this evil, it will per..! wjtj ! be odvisuble to cause this and such j vcs'( of our Rivers as demand it, to bo sur- j je(j d by competent agents, who will re- j c,fe :he estimated expense and practicabili- j Jn ' each work. . !,, h lv' ^ere are many subjects connected with I ofoi Iriminal Code which urgently demand adaj Mention of the Legislature. Among Hers is the hab't of wearing concealed -con' jadily weapons, which has become too w immon among ihc more unthinking part ef ' the community. This practice is highly iprehensible, offensive to good taste, sub. pt ?rsive of the peace of theccuntry, and un. m orthy of an advanced stage of christian th vilization. Revenge and resentment are rc ad counsellors under any circumstances, hi r for any age ; but, when they operate on outliful inexperience, they have a peculiar- n< r baneful and mischievievous effect. To p< arry secret weapons for an unarmed ad- 01 ersury to be used on an anticipated occas- al ion, is but to arm revenge; and to pro- pi idc them against a ensu ij eniergehcy, is to fiord a criminal temptation to resentment- hi Die transient ebullition of passion thus fre- hi neatly results in the commission of irre. 1 arable crime. This vulgar and unmanly m ractice should not only be discountenanced, hi sis by the virtuous and intelligent part of S oci?'ty. but it should in some way be inhib. w >-wi Kt, I<?to1 oif>s?tiri<*iiTc- If would not Si iVU UJ lO^UI \,l?>IVIll*w...w. .V .. w-.- ^ icrhaps be proper to prohibit tin; wearing f<a f weapons about the person. Such a law ir you'd he impracticable from the difficulty p nd odium of enforcing it. But when death 01 nsues from the use of concealed weapons, o a a contest which commenced apparently; ri pon equal terms, it might be, and I think o should be regarded ns a capital felony. ?uch a law, however, should be well guard, i b ed, to exempt it from objections. In male, k lg these remarks, I am but conforming to a m presentments of grand juries, and to the c idicntions of public opinion, in every part V f the State. a Another subject to which I would invite h our attention, while engaged in the consid. r< ration of the criminal laws, i3 the trial of e laves, especially in capital cases. These a rials are frequently conducted inobscur* uarters of country, remote from observu?n, by ignorant mm, frequently excited a >y timidity, or immoderate resentment, ir The consequence is that there is more de- a aand for executive interposition ia this class C f cases, than in any other; and probably ti here are many instances of gross cruelty tr nd injustice, which are never heard of out n f their neigeborhood. This evu might '1 erhaps be remedied, in part, by requiring te 11 trials of this character to be held at the ti 2ourt Honseof each District respectively, h it nnv rate hum initv reouires that some- i g "" J " V - ? hing should be done. g With a view to elicit information which ci night be useful to the Legislature, I have d btained from the Sheriffs and Clerks of the n Courts ofeach District, their several opinnns in regard to the existing defects of their fficos, besides a list of the indictments, onv:c:ions, &c.; which have occurcd in ie last two years, of which a condensed sport is sabraitted. -j The tribe ofCatawba Indians, holding a Leserve of fifteen miles quire of land on the ^ latawba River, in York District, among j ie most ferule in the State, is daily dimin.. tj thing, and is already reduced to the num- j( er of about sixty or eighty. The revenue 0 erived by the Indians from the Lease of ieir Lands, is received in a form tn be of ery little advantage to them ; while ut the ame^time, the title of the whites is utis titled, nd the State isder.ving no revenue from a (j roductive section of her territory. This ^ ubject appears to demand invesigation, nd is introduced to your notice at the sohcuion of parties interested in its adjustment. | ? J A U f- il.A nnnntntmOlll i recomm^nu, uicrciurcy iiig oppwiuu"*'"" f a commission to ascertain and report pon the facts. The conduct of our State u nvards the Indians, has, from the beginning S( eon a pleasing feature in her history ; and (j umanity unites, with an honorable pride, ^ i demanding that full justice should be se. te ured to this last remnant of the original f(] olders of soil. ,e Such are the suggestions arising out of fj. n earnest use of those facilities of observa- fc on afforded by my official posit'on. They ^ re yoursubmitted to superior wisdom, with j( ly full confidence that, however our opinms may chance to differ upon details, we ? e cordially agreed in the spirit of mutual ? distance to promote the great end of ou; ^ )litical organization, the prosperity of the ^ tate ofSouth Carolina. .j, P. M. BUTLER. ti) NORTH CAROLINA. ? xlracts from the message of Governor tr Dudley to the Legislature of North Car- 0j olina. su Direct Foreign Trade. These shackles of Northern Trade of w liich wc have latterly heard so much, oceed, from causes not so easily over- cc me. The North is much indebted to tr t natural advantages, but she owes more in/ the liberal employment of the credit sys- al oT. This enabled her at an early period ve commence a generous rivalry with Euro- q0 an commerce and manufactures. This ho rnishftd her the means of shin-buildinff? ho lied her manufactories into being?im- en oved her navigation?and constructed fu] r roads and canals. Tnese improve. an, jnts soon reacted upon industry?gave h | :ilities to the farmer?encouragement to dei i mechanic?and employment to labor of e]e ary description. These objects (except tra mmerce) were greatly fostered by the imj ir, subsequently by the tariff, and after- am rdsby the money thrown into her circu- of i on by the payment of tho public debt, it, j Dur course was vastly different; our dec jrgies were directed to the great p?\ suits of agricultural life. Always fear- lish of over,banking we employed the credit sett tem for no valuable imp evemcnt. Our are Jc was originally mostly with Europ#.? min ere we shipped our products and receiv- ser, in return manufactured goods to supply tizic our wants. Gradually,chowever, our the ic began to be transferred to the INorth. Iy a i began to find that there wc could meet vail i foreign goods, imported in Northern ene jels and by nothern capital, which, ad? circ to their own manufactures of greater and ;nt and variety, ard actually cheaper! of a rice than we had been importing direct- J bcc< ecauso they belter understood the wants} for I ur trade, had spare capital and cou: J 1 A] 3t a small assortments ourconvenience. i he i ice the transfer, but the North also; oui iiimcs largely of our raw mn-'Tial. hp hich renders the trade reciprocally ber icial to us. Our merchants are a calculating an lins taking class, depend on it, they hav adc their calculations in figures and fin eir profit in a Northern over a drrec: En >pean trade, or the present state of thing id never existed. The city of New York possesses naturr ivantages so greatly superior io any othe art in die United Slates that she ha3 nc ily the trade of the South but of ncnrl; 1 the Northern and Eastern Stat s, in i reater or less degree. To build up home markets is eeitiinl; igbly desirable and of primary importance at it cannot be effected by conventions,*'heir collected wisdom may devise tli icars but they must be such means ti ave heretofore produced the same result." uch as have enabled the North to compel ith Europe. We must extend the cred fsiem; affbid the means to erect manu ictories to buiid ships, to improve our nat union, open canals and cons:iuct turr ikes and railways to improve and us ur water power, and to work the mines < res and minerals with which our State s chiy abounds ; ayl we must do what i f paramount imp^ance, erect Seminarie education, to qualify our children th etter to improve our natural advantage?, t eop the children of the rich at home an void he extra vnganr expense and the ui ongenial habits which they acquire abron Vu must encourage our own mechanic nd irapor nothing that we can make t omo, and, finally wc must do as ourbretl sn of the North do, slay at homo ourselve xccpt when profit or business takes t broad, an I ceaso to spend our timo i lleness and extravagance. We should forbear |o cul ivate sectiont nd geographical feelings. There isdangc i if. It is enough to keep the line ofrigtn nd attachments between the State an General Governments separate and dit net. The object of our compact wa ade, friendly intercourse and strenghth ( umbers ; and I should learn with rcgrc le incipiency of any measure that woul ind a plant a hitter rivalry or angry aliena on between the North and South. VV ave but one peculiar Southern interest t uard, and that is sufficient to bind us tc ether with chains of adamant. We lookw t onndence to ttic uonsmuiion tor proiecno jcrc, and when that fails the South as on tun will know how to protect herself. National Currency. A circulating medium of uniform valu nd in sufficient amount, is the great desic ratum of our extensive and euterprizin onfedemcy. It is the life?l>looJ of the vi ious branches of our spreading industryf our agriculture, commerce, trade, m ini iCtures and internal improvements of ever escription ; ao 1 is rendered more esser al to our welfare by the extern of our Ufl >n, the variety of our soil an1 cli nate, an four people; differing almost ?s much i r a s, habits and manners. This all.im ortant < irculatior., I apprehend, cannot b jppiied without the credit and protectio f the Federal Government, exerted eithe irectly, in the establishment of a Nations lank ; or, indirectly, under proper reguk ons in favour of the banks of the Stare. Thp nf>nnli? vprv wi&clv ir ?ve to Cor , , j .. 0 ress ihe power "to coin money, regulat ic val'ie thereof and of foreign coin, an > fix the standard of weights and meas res." But it would not be more unrea inable to restrict the country to t! e ider eal weights and measures furnished by th Government, though they afforded not on inih tlio supply required, than it would b > limit it to the use of the coin thus regula id for the receipts and disbursements c ie General Government. If it was rigf > do so, the government should feel itse ound to furnish sufficient supplies both io s own and the people's uses. The leading design of these grants ti longrcss was, to render what was befor regu'ar, uncertain and deranged, certain ^fincd and uniform; otherwise there cout e no precision, no uniformity, and but lit s justice in the collection of taxes and du es in the various sections of the Union.? ut the grant "to regulate commerce witl reign powers, with the States and Indiai ibes," indicates very strongly the intentioi 'the framers of the cons itution upon th ibject, and their sense of the necessity nn< oprietv of regulating the currency, be i hat it may. A national bank being considered un institutional by the present Chief Magis ate, cannot, of course, be established dor ? bis term of office, unless a constitution majority can be obtained to control thi to power, of which I confess I entertair i hope. The necessities of the countr) ve twice called such an it stitution in c ing ; and under the auspices of our m )si lightened and patriotic statesmen, and it ly realized the expectations of its friends d supplied the wants of the country. Still, tas been made the stalking horse of the magogue, and made to bear upon all our ictions, from the elevated chief magisto to the humble constable ; and yet, so pressed was the country with ita utility 1 necesity. that, despite of the popularity the late President, who was opposed to t was re-chnrtered by Congress by deci1 majorities, and fell a victim to the veto ver. The rnnsMtutionalitv of 1 es'ub iment seems to be a question never to be led; and if the scenes of its re-charter always to be jcted over and the public td excited and disturbed by the oiisreprelations and agitations of corrupt partes, it may well be questioned whether advantages of such an institution, high- \ .s I might value them, uro, not counter- f ed by the improper uses to which ift! mies basely prostitute it. Undtr sych | umstances, with no national currency our exchanges deranged, with n/hopc ction by the General Government, it ^mes our duty to search out substitute [lie National Bank. / fy preferences are with tyd Banks off States ; and I ask your attention to,.and cand d consideration 6\\ my reasons.; i:r normanencv is an jfonortati? reoom/ J i- mendation. The first chartered banks 1 the country are yet in existence and in good^^k d credit, and no one within my. knowledge,"^^L o of respecrable standing, has ever been re* d fused o re.charter when applied for. Nn- ^|l i* tionaI politics have never entered into their s management; and their contradicts and expansions can never affect the business d of the country like a national bank of largo f capital ramifying ?nio many States. A considerable reformation, alteration Y and improvement would be necessary, how0 ever, in order to make the local banks meet my views. Tltey ore at present too y numerous; their capitals generally loO ? small; ana me vuneiy 01 nvir uvic? ?v " great :hat it is almost impossible to fix upon e tae memory the churacter of the signatures 18 ami vignettt-s, so as to avoid ihe danger of 5# forgeries. Some of their locations arc in;e convenient as depositories; it will inevitably 11 lead to rivalry and dissatisfaction, jealous* ies, and more than all, to a depreciation of r* j the issues of the rejected banks. * j 1 propose, then, that our State lead the ?j way in the reform of our banking system, ^ and respectfully recommend the chartering ? of a Bank with a capital of ten millions of 19 dollars, allowing the existing Banks to sub* !S scribe all their capital stock into it; the re* 10 maining stock to be taken by individuals?. ? into the detai's of which i? is not necessary d now to enter. l" The Stale to transfer all its stock and ' funds to the Bank, and to offer its services !s to the federal government as a depository o! 11 its funds, the safety and forlh-coming of '* of which, in the kind of money deposited, to * be guaranteed bv the State in such manner ,s as shall be satisfactory to the general govn erament. And, in the event of the Bank being unable to meet the payment of tlio dcpositcs of the general government, tho !r State to issue stock for the amount in favor 3 of the government, bearing 5 per cent, in* ^ terest, until the Bank is able to resume pay* ment. ,s For these services rendered to t;e gencral government, the notes issued by the Bank to he received in payment of ill its d dues : and on the further condition that tho - nthflr States nrenare their Banks in like " r~ i ? . e manner and for like purposes, namely: That 0 each Stale and Territory shall designate by '* law one bank, and moro, if its trade and h necessities require it, of capitals not exceed. n ing ten nor less tlmn two millions of dollars, e as its own depos'tory an J the depository of ' the general government; and, if requested by the President of the U. States, other o i Wanks for that purpose. A second Bank, |. however, in no case to be chartered or deg signaled, un'il the capital of the first, which i. shall be the maximum amount, shall bo en* _ irely taken ; and so on 'o the third, f >urtl? j. and fifth, when necessary. The notes of all y the Banks thus made depositories to be en. i. graved on similar paper, and to be made to i. resemble each oilier as nearly as possible. a j Each State shad designate to Congress ri i 'he particular Bank tendered as a depositoi. ry ; an I the acceptance by the general gov. e j ernm^nt shall be under an act of Congress? n j and nil their innrco irse regulated by law. - 1 If ;inv Smtfi refuses nr nenlectfi to COR1C j . "" ? " " O ? a| ; into the arrangement, the money collected i. | in such Slate by the general government i shall be transferred to a depository of some i. j other state, nor shall the money collected e in ti e refusing State be received in any d thing but coin. Titus fostered, sustained, and patronized by the general government and guarded by i. the supervisory power of the States which e guarantee their fiielity, these institutions, I e have no doubt, would afford as near a aoi* e formiiy of currency and of exchanges as by i. any possibility can be arrived at. Uttder >f such high sanctions, too, capitalists would it be induced to invest their funds in socb If stocks with alacrity and confidence; and r the notes of these institutions, from the cred. it reflected on them, would circulate sofree~ a ly and extensively as to enable them to sup* o ply the amount necessary for all the legiti* , mate uses of the country. J An increase of banking capital in our . own S ates is certainly necessary to meet . the wants of industry, ond to perfect the - works of improvement already commenced h lo say nothing of other works equally neces* n sary to be made. But, unless some ar* r? rangement can be effected to convert the e unnatural hostility of the general govern, j mem into favor to t e state banking institut tions, you may charter banks, but capitalists will not be induced to hazard their means K ...au/ tin sntrtp III UIU OlUbIVS, A U l/Ullvn H>v?? > | _ . . . . . of the States have done, in order to furnish ? capita] for their banks, is idle. If the Sab. Treasury is established. Hank nrtes in3 stantly become discredited, or their sphere i of usefulness is made so limited that they r will find it hizardous if not impracticable, . > to loan out more than their capitals, and ' their profits will be insufficient to sustain t! them. The suggestions I have made to ; you arc the results of an anxious reflection , upon an imricate and all important subject j and it affords the only probable outlet which | hns occurred to me of ex rication from our j financial difficulties. I hare attempted i nothing more than a general outline of the j plan; its details shouldyou deem it worthy I your consideration, can bo arranged at your j convenience. The subject is so important, that I must j crave a few moments indulgence in making j a further brief illustration of it. f i 1 .1? t 1 nave buiii wiui 11it; nuercouse oeiweeri I the banks and general government must te I regulated by law. There must be no con. I tro'ing or discretionary power intheofficers of ckner government. We have already seen our institutions seduced into measures for which they were subsequently condemn, od by ihe authors of their errors. The States all have, this State at least has, ft deep pecuniary stake in two of her banks, and a vet higher interestin all, in the char* aeter they sustain, and in the facilities they afford the farmer in selliog, and the raef. chant in purchasing commodities; add we must not allow them to become the sport or the victim of any power. They hold their rights under the same sacreS guarantee by which our lands and other property is held,- and anv invasion of them i - , |