Newspaper Page Text
BY ALBON CHASE,
ATHENS, GEORGIA, FRIDAY, NOVEMBER 12, 1841.
VOL. X.-NO. 35.
THE SOETUEUIV BAKNER,
Ik published iu Athens, tin. over the Hook-Store *)f
Av Chase ft Co. every Friday laotaius.
GOVERNOR’S MESSAGE.
-I
txi-X’UTivE Department,
TKl.M.'.—Threert<>ll«T»jKT}v»r,p«y»blelusdr»nce,OrFQU» | Mlllctlgeville, 3d NoV. 1S41
d..:ii.r» #< iUr cud «f iiicyear. | L'eHovc-Citizena of the Senate
\nv tul>scril>crtain»i» t<» give notice ofiui desire todiscotinnoe I • n s . , •
W .«uWriptioii at tlie e*|rinnion ©f tli*tVm* fo? which it has l*erti j (Hid llOUSC OJ JktiJ)T€SV7ltullVPS :
» jj. PiRbt eeusiilered »» witty*«»contiiu:* ft, »i*» hehl SUMt. Of til I l tie 5bhjrCtS entitled to VOUf conside-
... »• \ . ■*.’ Ubo discontinued.(except at tire eputfn . . ^ , ,
ration during your present session, the still
L*v Vr«1i’fdy. X«* paper will be ducoiitiuuci!. (except tit lift rpiiott
oM :#• pubfwlwr,) uniil all arrear;t"Cf art* paid. v
Xi'AU l.crera u> the lidiior on matter* connected with the *rt-
'•1 lijlinicnt. moat be port paid in *»r.i<*r to secure attention.
Hates of Advertising.
I .filter* of Citation, ... - $2 75
Notice »o Debtors a.id 'Creditors, (:0 da\s)
Four N<»ti< es. • • •
Sale* of PeiBonal Property,by Executor*, Adniinintra-
tors. or Guardians, ......
of Land* or Necree^.by do. - -
Application f.»r Letters of DuonUdon, by Admtniatra-
tor* and Kxrruiora, -
AjyUra:io;i for ditto, l»\ Guardiana,
3 vc
4 00
3 23
4 73
4 50
3 05
fr j* Annouu< ing candidates for ol!»cc. Five Dollar*, payable in
TT* HnsfiMkroU dieir wives, will be charged 55, to
^»c j»aid invariably in ad value.
<r *:K** Ad v«*rtihci:«en!s, $1 00 for every twelve lines of small
V/jfv, or .pace opuvulcni,) l*n»l insertion, amt 50 fniM for each
’troitly eoniinuHiire. If published every other week. C££<ent*,
4i.id tnontulv, 75 cents for each continuance. Special contra Is
*r»?ty br *•**>• for adveriwine by the a ear.
Al>V! nvrjttSV.Nl* should alWaya hn’t' the desired number of
Insertion* marked upon them when hn^Vii in, or oiiict wi>e li.cj
will be pt.bhahrd till forbid «ud chenfrtl ae* :**•£!>.
'Notice of the *n'.r «f fetftd and 'Negroes l»y Admi:ii*trn«ors.
K\ecmnr-.or (Suartiians, must Ia publislied »uijr J'y* pte«im.s to
t ie day of sale.
The »*! Personal Proper.v, in like manner, mini he pnbiwi-
ed forty d't\' previous to lire
deranged slide of the currency presents the
most delicate and embarrassing. It is an evil
that cannot be corrected in a day, and it is less
in your power to remove existing difficulties
{than to prevent their recurrence by wise and
j wholesome legislation. What is the proper
remedy for the mischief, has been n question
of absoibing interest to the whole nation. A
great diversity of opinion exists in relation to
it amongst our most distinguished and enlight
ened statesmen. Some regard a National
Bank ns the only menus of relief. Its advo
cates allege that its notes when undepreciated,
universal and uniform credit
issue of the notes of the old Bank of the Uni
ted States, and when thwarted in this, its hur
ried resort to foreign loans, and its engage
ment in cotton and other unjustifiable specu
lations, made it manifest that all its operations
were the wild, indigested aud misdirected ef
forts of desperation. Finding as little favor
with the present, as with the former adminis
tration of the General Government, ar.d being
overwhelmed with difficulties, it was forced to
yield to circumstances, and a state of things
was divulged, which covered its once distin
guished managers with infamy, and disclosed
to the stock-holders that their entire interest
Imd been sacrificed by those in whose honor
and integrity they had confided. The loss of
this institution cannot be less than twenty-five
millions of dollars. Its notes are at a heavy
discount, and it is not yet ascertained that they
can be redeemed after appropriating the whole
stock arid other assets to this object. This is
the finale of the old Bank of the United States.
are of almost
| throughout the Union ; and, that based upon j Had it continued to he the depository of the
'national credit, it commands a confidence but j public funds it might longer have concealed j ty in carrying this measure promptly into open
would be promoted if there were but a single
bank, located at our principal seaport, with a
Capital adequate to all commercial purposes,
and required to establish a branch at each point
at which banking facilities are needed. The
many advantages which this would have over
the existing system, must be manifest to all.—
Every section of Georgia would have the same
currency, not liable lo loss by unjust exac
tions of unreasonable premiums on Exchange,
and of nearly uniform value throughout the
State. By establishing a substantial credit at
home it would acquire confidence abroad, and
enable those who wish to use their funds in
other States, to dispose of the notes at little or
no sacrifice. There would he but little prob
ability that those who embark in banking with
the view of fabricating money for their own
use, could bring the institution under their
control so as to execute their purpose. This
should be effectually provided against in the
charter. That malty banks have charters as
yet nnexpired, may give rise to some difficul-
bank stock, even ou the very favorable terms \
authorized by the statute, to nn amount suffi
cient to pay ihe debt, were Compelled to avail
themselves of the power given them by laW to
purchase bills of Exchnge or other paper, for
the purpose of remitting funds to pay any debt
contracted abroad by authority of the Legisla
ture. They accordingly with this object pur
chased bills of Exchange and other paper ton
large amount. The extraordinary sum of one
hundred and eighty-nine thousand dollars of
this paper has been permitted by the drawers
aud indorsers to be returned under protest for
non-payment; although they were undet the
to minister to the public relief, without ad
ding to the distractions of the currency. Nor
can it be expected, that while a part of out own
citizens are engaged in exciting in the minds
of capitalists a distrust of our stocks, that
bonds can be sold for the purpose.
The attention of the General Assembly lias
been frequently collet! to the amended Consti
tution, authorizing the establishment of a su
preme Court for the correction of errors, t
again conuncnd it to your consideration.
When it is considered that the principal ob
ject of Government is the nttainmeot of jus
tice, it is a matter of surprise that we should
most solemn obligations, moral as well as le- i rest quietly under the imperfection of our sys
gal. knowing the object with which it was tem of jurisprudence, in which there is neith-
Not
ilelnon an>l rrc-hin* of an hr j.ublklie.l ' j () j], ( .
little short of that of the people in the Govern
ment. Experience, however, tins proven that
such an institution is not entitled to so large a
share of the
its situation and maintained its credit, but its ! ation. If tJit* act ot incorporation were inmie-
actual condition would have been tm better, j diately passed, providing that no other bank
Reasoning from the data aflorded, it niay he | should be chartered, and that tho charters ol
ic public faith, and that it is liable concluded that its losses would have, been still j those ill existence, except that of the Central
> casualties of other banks, with this I greater, and it is clear that the revenue of the | Bank, should neither be renewed nor exteu-
purchased, to meet it ot maturity. In addi
tion to this there is now running of this paper
the sum of forty-four thousand seven hundred
and thirty dollars. Hence, it appears that du
ring the year, to answer the requisitions of the
Legislatuie and to pay the public debt, the
circulation of the Central Bank has been in
creased one million eleven thousand seven
hundred and thirty-four dollars and two cents.
It is apparent that this immense sum (except
ing the paper purchased to pay the debt above
mentioned amounting to two hundred and
four thousand four hundred and nineteen dol
lars,) is n charge upon the capital stock of the
bank, and is so far an utter annihilation of its
!imposts for its relief. {such an institution, to aid i.i managing the fi- j will encounter tho opposition of many of the
KXltCI TOItS’ & till'AH.IHA~W SALES, j jt cannot he expected that men of morals nancial concerns of the Government, or to j banks now iu existence, and the hostility of
i.====^r==^::-I and capacity superior lo those who arc found I regulate the currency between the different those towns and cities ambitions of retaining a
riXl'll/L 1 I UHo Cl.\l;hl. 1 n ■ ■ • - • ■ I - - - -; ~r <• I.. «: -*• : '
O N Thursday, »!><“ IGih December next, will be sold | IO m «"jV
at die resilience of William Jones, deceased, late! to administer its offal is. - .. , . .
of Franklin county, the personal property of said de-j it will be liable to the same influences: will but when adversity comes, it plunders and
capacity superior to those who arc found I regulate the currency between the
i«nagc local institutions, are to be obtained sections of the Union? In limes of prosper!-1 IxUik. But the public interest alone should
Those who conduct! ty -when exchanges are low, it is not needed ; he consulted, and the recommendation is made
but when adversity comes, it plunders ami under the firm conviction that it will be pro-
destroys, or is pressed and powerless, and in
either case, adds lo the g'uierul calamity.
Iu order that a proper and practicable rem
edy may be provided for the diseases of the
. eased, consisting of from 15 to 80 baps cotton, about extend credits in tildes wf high prosperity;
500 barrels corn, fodder, oats, about 5,000 lbs. pork, i contract bad debts, misjudging the circum-
hoisos, caitlo.aml otlwtsUMdc, household awl kitchen i g^uces of applicants for its favor; nffotd fa-
Jiirnituic. pUnt.Ttton fools, &c. «Vc. aow m me prop . * 1 . . • •
criy of sol (leconsod. for tho benefit of his heirs, eilities'»:id perhaps he concerned 111 associa- . . ...
Toxins 12 months credit, with note aud approved sc-Tions for speculation, call in its debts in times j currency, it IS necessary that then causes
'of general embarrassment, thereby adding to j should be thoroughly investigated, it is un-
i*. will he hired on the same day, from 15 to 80 t j ){J jj| S | r ,_. s>es of the unfortunate, and giving I questionable, that the almost indefinite multi-
moted by it
On the first day of January 1 issued my
proclamation requiting the several banks in
this State, their branches or agencies, on and
after the first day of February thereafter, to
nUct'in ihcir liuiiilities with sperio, in confor
mity to the provisions of an act of the last Gen-
er security nor certainty. The decisions of
the circuit judge are final and irreversible, ex
cept at his will. His power, in eases invtjlv*
ing the life, property and liberty of the ci\h
z«n, is absolute and appalling; and, but that
we have been so long accustomed to its exer
cise by a single individual, it would not be
tolerated for'a day.
It lias been said, by those oppbsed to this
refonji in our judiciary, that if one judge bits*
three may err. This is true; but it is also
true that three are not so likely to err as Olid*
especially when those three are surrounded
by circumstances better adapted to full, calnt
and thorough investigation. The principle is
means. Although the bank is entirely able to j anti-republican : for the same reasoning would
l ? rk * i and hrinmn^ the press and public councils nn- J is proposed to establish the institution.—It is of ils failure to redeem its ti.ibilit’es with spe-
t . ^ ^ ...... .«!•; I naisl ILa inin\rnAr»tl>fl trPfltll'niPIl. to Ah* Informations having been lodged in
disposed of in liis will, (except slaves) con- i of pol.,.,... - , , . . .
aiming of hoisvs. hogs, cattle, sheep, one nil and ; , ( . 0 | 0 f , iic Government ami its operations; ■ cial necessities of the city or town in which it
steers, one road wagon and gear, two sets of bines
smiths' tools, corn, fodder, &e. Sale lo continue
day to d iv until
the day of sale
* ] which the people
Nov. 5—"i—tds. abstracting from their pockets the means ol
rvi'’/ t’TnllS o a | i.’ I maintaining its unjust dominion over them.
\V *o. y AtS«;!
• l ... .11 .1 ! I i . M I- ~ C • 1.I | . . alrv/1 ClfitnO IV ItoIl ItflC lllcf
iil'ait is vid'f °T«!rms n.Xknow-,,'on | dor its authority, it will acquire a power ulti- granted, and the incorporated getitlemen to , cie.
c i;i,i\s 1)\V18. I matelv, that the nation cannot resist, and to comply vvith the precautionary regulations of pi oper
GENERAL DAVIS,\ AC<I I which the people must submit, all the while the Legislature, borrow lor a few days, the a- and B.
Meadows’,’ deceased, in Walton county, all the person- j late Bank of the United States which has just
aland perishable property, (except _ negroes) belong- j terminated a career of profligacy and corrnp
ing to s'-iyl estate, such as 1
foddc
furniture
of sale. 1a " ^ M J ABRAM MEVDOWS, Exec’r. ' i ;U k1 went into operation under the most favor-
lid perishable property, (except negroes; oeiong-1 ( erm niat e d a Career of prolllgacy aim corrup-
to s lid estate, such as horses, hogs, cows, corn,. jion w j,hont n precedent in the history of the
dl shall he sold. Terms made known on the day j chartered by lltc Congress o. the Uni.cd States
October 22—1!2—tds.
! able auspices. With c substantial capital of
j 28.000,000 of dollars, it commenced business,
hnvinrr the revenue, of the Nation to sustr-.lu it
mount of specie required to he placed tti the
vaults before operations can he cpmmenccd.
The bank opens under these auspices, the spe
cie is returned to its proper owner, and the
notes of the stockholders att^substituted for it;
and on this unsafe, fraudulent, and unsub
stantial foundation rest many of these corpo
rations. In such cates of unquestionable im
position, it is clear that the Legislature has
the power to abrogate the charter, and it ought
to be unhesitatingly exercised. Banks are not
created for the bene it of the proprietors, fur
ther than lo offer th« vn a profitable investment
of actual capital, '.’he object of the Legisla
ture is not to enable the capitalist to make in
terest, but to present before him inducements
to give activity lo h s money for the benefit ot
EXECUTORS’ SALE.
<*r i'™'" f 7* h r ^
nary purposes, will tm sold ou the first Tuesday in i was driven to the necessity of making curtnil-
Januarv next, wiiliin i!m lawful hours of sale, at the , inputs which crippled the commerce oi the
vourt noiisn in W’alkinsvillo, the personal property of h 1(J j 0 , tJ )G expiration of twenty seven , .
the late Henrv Jackson, deceas'd, in the said county j monl | |s . v ., s hromdtt to tho verge of failure j the community; to bring it into trade; to ni-
Of Clark. ^f ft \ A l r t icsMT'Fxcrr-.x 1 at id Was forced to throw itself upon the public , crease the facilities if commerce and enlarge
jIfNUy V J icksoN, EtocV.'' ’ treasury to rescue it from ruin. The officers the sources of general prosperity. A i eflo.ts
, V t ft—r,n—t Is. ’ i of some of its branches had abused the cot.fi-1 to evade mid thwart these purposes should be
— donee of the Government and stockholders, made highly penal, and the corporate privile-
EXECUTOivS SALE. ^ aJ1( j ; ,hsj ra cj,;d its means upon securities don- ges of banks violating the letter or spirit of-
A GUEl-'.ABLY to an order of the Court of Ord.na* ,, plijd^cd trusting to the success of wild ‘ their organic law, should be abridged or an-
jfVry of Walton couiny, will tw sold lit the town Ot * -■ ..' ^ ’, e „ n ble them to ntcelt heir ett- i nulled according to the enormity of the of-
“Si-W-I- >v„s foico. They «ro no more l^yond .he -=»ch
pit N». 15S. 31 di^t. of Wilton; also onehun lrcd and ) e fj;, C | e j an j a gentleman was placed at its | ot legislation t.ian natural persons, llleir
fifty aercM of land in s .i l county, beins port of three ; hcn(] who a f ter bringing order om of chaos,! capacity for mischief is inseparable front the
Its destinies were then committed ! power given them for good. This is necessa-
with him. it was sup- j ri!y tfic rase, and they should he restrained by
lots Nos. III. 11*, ml 12). -Ml sold « the property , . ,
,.f J unes J. Moo c. late of s ii l county, deceiwej, j rt ‘ '-* ,uu .
for the l»c..cfit of tlu- heirs m l creditors of slid «!e- ; to a man, who brought
dcccnsod. Terms nnde know n on the d.iy of sale.
JNO. M. B. MOOIIE. I E .
l'lllBY MOURE, S >*^ rs -
Oct. 22—32—Ida.
j posed, every qualification of character and
I ability to insure its honest management, with
! profit to the proprietors, and benefit to the Ha
lt was so conducted ns to propitiate gen-
non.
EX ECU TOR'S SALE.
oral confidence, and it acquired a reputation
cr ef the Honorable Infi -1 and influence which were, almost irrcsistihle
salutary laws from perverting this power to
mischievous ends.
If the position he correct, that banking priv
ileges should be conferred on those alone who
have an actual surplus capital, not needed to
be employed to any other way, might it not
.list Ith W. origiodlyOiibc^decu- | monetary' operations of the country. Its af- j straction of so much of the capital, for which
8oid7or''ihe'hcnofit of the heirs and cicditors of said I f,i rs were all the while secret, and continued j his note is substituted The argument that
deceased Terms mads known on the dav of site. s0 nnl j| a ra y 0 f |j^ht was thrown upon them ! the note of a stockholder may he made as good
WOOD HINTON, Exec’r. j ., v ’ , !ie imperfectt investigation of a committee “*'• '"' A
October 8—30—tds. ■ of Congress. It was then discovered that its
GUARDIAN’S SALE.
WILL ba sold to tho highest bidder in Tmmpkin.
a V Stewart county, «<n the first Tuesday in Deccut-
t„. r nox t, by order of tho Inforior Court of Jackson
co mtv when sitting for Ordinary purposes, one lot o!
I.tnd lying in said county, No 42, in the 33J dist. ot
1*q when drawn. Said lot was drawn by Jane
Reeves, orphan. Terms made known on the day ol
V JOHN J. PARK, Guardian.
Sojiicinljcr 17—27—tds.
rreal prosperity
foundation ; that the most influential presses
in the country had been subsidized by heavy
loans; that members of Congress of comman
ding talents had been feed ns professional men
to represent its interests in the courts of judi
GUARDIAN’S SALE.
\ GHEE ABLY to an order of tho Inferior Court ol
_l\. CU.-k countv, when sitting for Ordinary purpo
ses will I,.■ sold Wore the Court-house door oi said
•county, on the first Tuesday in December next, one
negro man, Graen, the property l f* e 1 i *" on «J
minor of David Stephens, dcc’d. Sold for tho benefit
cf said minor. Terms made known on ihe day ol sale.
\VM. DICK.EN, Guardian.
Oct. 1—39—tds.
GUARDIAN’S SALE.
A GREE VBLY to tut order of the Honorable
Court of Ordinary of Franklin county, will be
sold before the court-house door of Carroll county.on
the first Tuesday in December next. One tract of
Land in said county, containing two hundred and nvo
and a half acres, being Lot No. 117, tn the »th district,
drawn by Ann P. Chappelear, (Idiot*) and sold as her
proper!v. Terms cn the day of sale.
‘ 1 J AS. H. CHAPPELEAR, Guardian.
as that of any other person, is delusive and j
fallacious. It is true in fact, and therefore!
speciousbut when examined proves to he
unsound in principle. A charter is never
granted to persons to enable them to issue
notes to lend to themselves: but that those
who have money may associate and bring
their means together lo lend to others. A
catnre and that to others, accommodations to j loan lo one stockholder, it is known, may he
enormous amounts had liecn conceded. Ifl as good as that to another, and each has an
there was nothing unusual in this, it gave rise ! equal ritrht. Loans may be made in this way,
to strong suspicions that its purpose was to j not only until the entire cnpitul is absorbed,
wield its gigantic means, levied, ill part, by j but beyond this, to the amount o,” issties the
taxes on tho people, to perpetuate iisolt up-1 bank is authorized to maka, 1 here is, in such
on tlic country, and to interfere with the poll-1 cases, a strong temptation to wrong, for the di-
cv of the Government. It furnished evidence 1 rectors to extend mutual indulgences to each
also, that the Representatives of the people other; to refuse accommodations to nil except
were in danger of being subjected to its do
minion, and the nation controlled by its pow
er. Front being a mere appendage to the
Government, it assumed to he greater than
the Government itself. But its arrogance Was
arrested by the great man then at the head of
the nation, who could neither be won by its
smiles, nor terrified by its frowns. VVhcn it
was found that the limit fixed for its existence,
by flic act crftatinjr it? could hot be transcend-
cd, it resorted to the expedient of invoking
from a State a charter bv which it might es
cape the. exposure of its condition, which must
Sept, at—28—tda. . j ne eessarilv have token place at the closing of
mURTHAN’S SALE Its affairs, hoping no doubt, under this shield
OREEABLYto.n order of dm HunoraVl, In- to protect itself until by obtaining a grant from
GREEAuG* to an oroe o l _ ( coal( ] be restored to its former
A. l rerto7Court of ciaTk county, when sluing for
Duliiwy purposes, will be sold at tho court-house in
Gu.rk county, on the,first Tuesday in December next,
all the v«;»\ estate belonging to the heirs of lhontas
Preston, deceased, to wit: four hundred and fifty
acres, more or less, of excellent land, whereon thu dc-
ocased formerly lived, persons wishing to purchase
will do well to examine the premises. A liberal ered*
It will be given.
ANDREW J. BIHGIITWF.M., Guardian.
21—yS- :d*.
privileges and powers. It succeeded, in ob
taining n charter and with the same stockhol
ders, save the Government, and the same as
sets, a new organization look place under a
cognomen admirably adapted to secote the
confidence it acquired while it wielded the
the compnttv, and when their indebtedness is
greatest, to depreciate the currency, that they
may purchase it at enormous discounts, or re
ceive it in payment for property sold at unrea
sonable prices. The plan proposed promises
to he more effectual than any other thnt sug
gests itself to my mind, to protect the commu
nity from this unjust and nefarious specula
tion. By extirpating the system of banking
upon fictitious capital, the soundness of the
currency is most likely to be preserved; sta
bility will be givei^to exchanges; the planter
and merchant protected from the devices of
the speculator; and the luborer paid in funds
not liable to depreciation,
As a means of obviating the causes which
have led to the disorders of the currency, a
favorable change might be made in onr bank
ing system. The Central Bank is the only
institution which has diffused its accommoda
tions to the people of every occupation end
profession throughout the State. This should
be sustained by all the means at the comciand
form against the Georgia Rail Road
inking Contpanv, the Bank of Colum
bus. the Planters and Mechanics’ Bank of Co-
1 umbos, and the Chattahoochee Rail Road and
Banking Company, sustained by due proof ot
tlieir failure to comply with the provisions of
the statute, judicial proceedings have been or
dered against them, aud able counsel have
been employed to aid in the prosecution of the
respective cases, for such compensation as this
Legislature shall prescribe.
The interest that the State holds in the
Bank of Darien requires that 1 should invite
your special attention to ils condition. 1
transmit to you copies of communications made
to this Department by C. II. Hopkins, Esq.,
one of the State Directors, in relation to some
of its transactions, and of my replies to him,
and a correspondence, with the bank. I also
submit to you the copy of a contract—the
same referred to in the letter of the President
—made with the New York Banking Compa
ny, through its presiding officer. This is a
document of extraordinary character. While
the bank places in the custody of the opposite
party a large, amount of its own and other
notes, to be forfeited and sold on a non-com
pliance with its part of the contract, if that can
be called a contra A which is without inntual-
itv. the other party binds himself to the perfor
mance of no act, nor docs it extend to the bank
niiv power or privilege that it did not possess
independent of the instrument. If there was
any collateral, verbal understanding, it was
without obligation, and rested with the option
of the party to execute it or not. i his matter
requires investigation. The Central Bank, in
the year eighteen hundred and thirty-nine, re
ceived ’a large amount of the notes of the Bank
of Darien, a part of which is still on liar.d.—
This, with the stock owned by the State, and
the obligation to protect the community from
loss, constitute n sufficient consideration to in
duce von to look thoroughly into its affairs.
If there be doubt on general principles of the
| constitutional power of the Legislature to ex-
! P rt a controlling authority over banks, the right
1 reserved in the sixteenth section of the act ot
incorporation of this institution, relieves the
matter of ull difficulty. 1 would recommend
that its assets of ail descriptions be. transferred
to the Central Batik, under such regulations
as will guarantee to its debtors the greatest
possible indulgence, consistent with the rights
of its creditors and the interest of the State.
The Central Bank, an institution which
has afforded more actual accommodation than
any oilier to the people at large, and hits sul-
fered fewer losses, and of less amount in pro
portion to its capital and the length of time it
has been in operation, requires the aid of your
sustaining efforts. It has for a series of yeurs
been taxed with the support of the Govern
ment and heavy Legislative appropriations—
Its power to do*good has been almost destroy
ed by continual encroachments upon its capi
tal stock, but at no time have greater ravages
been committed upon it than those suffered
during the political year just ended, from the^eoura_e
acts of the Inst and previous Legislatures.—
The sum of four hundred and eighty-ume
thousand three hundred and ninely-seven dol
lars two cents has been paid upon requisitions
of the last General Assembly, and about the
sum of one hundred and thirty-two thousand
five hundred and twenty-seven dollars niider
previous laws. But I am happy to sav that u
has discharged its debt to the Phoenix Bank of
New York, amounting trt two hundred and
sixty-three thousand dollars, which by the act
authorizing the loan, it was required to do,
and to charge the same to its capital stock.—
Of this last stun, one hundred and six thous
and nine hundred and twenty dollars were the
proceeds of the sale of bank stock, authorized
by the act of December last. The directors
meet all its engagements of every sort, it has
to rely mainly on its collections for the pur
pose, if the bonds provided for the redemption
of its notes, which have ns yet been but little
available, be put out of the question. A con
siderable part of the protested paper above
mentioned, was purchased without an abate
ment of interest, in consideration of the differ
ence of exchange between this place and the
place where it was made payable, Which if it
had been punctually paid would have been a
gaining operation to the bank, the rate of ex
change cxceeilinir the leptnl interest. If it IS
expected to sustain the public crean imuiign
the operations of this batik, a summary reme
dy most be provided for the enforcement of
such contracts. I would recommend the im
mediate enactment of a law for this purpose,
applicable as well to nil papers of whatever
kind, now held by the hank, except accommo
dation notes received at the ordinary distribu
tions, ns to papers for which it may hereafter
negotiate, for the purpose of paying the public
debt, or the interest thereon.
As above remarked, but few of the 8 per cent,
bonds provided for the redemption of the Cen
tral Bank notes, have been sold. From the
coufse pursued by a portion ofthe public press,
calculated to depreciate the credit ofthe bank
and the resources of the State, a distrust of
our stocks has been created amongst capital
ists, which hasdeterred them hitherto, from ma
king the safest and most profitable investment
offered in the United States. The prostra
tion ofthe State’s credit by the protest of the
debt due to the Phoenix Bank of New York,
is a difficulty against which wo have had to
struggle; and it has presented a formidable
obstacle in all subsequent attempts at negotia
tion. Notwithstanding this debt has been
paid, and all other engagements have, been
promptly met by the State, the confidence of for
eign capitalists in Georgia securities, _ is far
from being restored. When suspicion is
thrown either upon our ability, or integrity of
purpose, by a part of our own citizens, it is
iiot a matter of surprise that a distrust of us
should he excited in those who must depend
upon others for the character to which we are
entitled. It is to be hoped, now that the rev
enue is paid into the public treasury, that there reason
will be no necessity for resorting to loans to
auv considerable extent, to sustain the Gov
ernment or its policy. From intormation de-
rived from the Comptroller-General, the antic
ipated net receipts into the Treasury will be
about the sum of two hundred and thirty
thousand dollars.
You will perceive that the heavy drafts
made by tlic last General Assembly upon die
then almost exhausted resources of the Cen
tral Bank, have left it without the ability to
make discounts, except at the hazard of an in
sufferable depreciation of its notes. I would
recommend the speedy restoration of this in
stitution to its former condition of usefulness,
that it may renew, at ns early a period as prac
ticable its' accustomed accommodation to die
|5e i P had the honor, at the last session of the
Leo-islnture, to invite the attention of that body
to some measure of relief, to aid the people
through the difficulties of the present year.
The recommendation was based upon the sole
ground that the failure of the cotton crop (a
providential calamity, which could neither be
foreseen nor guarded against) hud deprived the
people ofthe usual mentis ot meeting tueir en-
"ftgements. The specific measure proposed
was one which could have injured none, while
it might have resulted iu advantage to thous
ands. It was intended to benefit that class or
valuable citizens of moderate fortune, who in
times of national difficulty, occupy the post of
danger, and are ready to offer up ther lives
for their country, and whose distresses had
been brought upon them neither by idleness
nor miscalculation. Whether the crop of the
present year will make up the deficiency of
the last/and render such a measure unneces
sary, yon, coruing from all parts of the State,
will determine, The policy of legislating for
such purposes when the general embarrass
ment is the result of miscalculation, or misad-
vertetice, cannot be defended. It would en
courage men to rely upon the Government in
stead of their own industry, paralyze their en-
ergv stifle exertion, and subdue that spirit ot
manly independence Which aloue can sustain
a community of freemen, if the cartse, how
ever, which induced me to submit Ihe matter
to the consideration of the Legislature, and
ask its intervention, cottiuttes to operate, it will
Ixs your duty to ascertain if thefe be any prac
ticable means at the command of tne Govern
ment to give effect to the measure wtthuuten*
tailing a greater evil upon ^the country. The
Central Bank,. Which 1 stated at that time
could not be relied on fof the purpose, has
been placed id a much worse conduion ^ tne
requisitions ofthe last ISS^S^iSSSSt
efforts to discharge the debt of that insut i n
to the PncSnlx Bank, tt cannot, therefore.
apply to the Legislature, and lend to the cou*
Centrntion of the law making power in the
hands of a single individual. The objection
arising from the alleged delay of judicial pro 1
ceedings, cannot be available, Until it is shown
that it is better for a man to suffer the wrong
of an eroneotis decision, than, by prosecuting
his rights, attain justice at n slight sacrifice of
time, The great utility of sileh ix tribunal
strongly recommends its adoption. It will
produce Uniformity of judicial determinations!
by the settlement of legal principles it will dL
minish litigation ; and from the published re*
|svs»««? \jC iso u%«
i forded every man to understand the Mtlbotfe
I tutive interpretation of the lows.' '
The constitutional provision, that the trial of
all criminal cases shall be in thb colthly id
which the offence Was cormmiied, has given
rise to much difficulty, and in some instance^
flagrant injustice. From the law regulating
the selection ol juries, tin offender htls tieefi en»
larged on his own recognisance, which
amounted to an acquittal, nffer years of impris
onment in the common jail from the impossL
bility of procuring n jury who had notexptesi
sed an opinion on his case. It is dile to pub
lic justice that an impartial trial should be
had in every Case, anti for this purpose it is
absolutely necessary that power be given Id
the courts to direct a change of VetiUCi wliell
justice cannot be obtained without if. 1 bring
this subject to your notice, that you may give
it the consideration to Which in your judge*
meat it mny be entitled,
1 would recommend, as a salutary regula
tion tending to the furtherance of justice, that
all persons subject to jliry duty, either 6$
grand or petit jurors, be required to serve oft
the trial of white persons charged with the high
er offences, mid on the Dial offreb persons of
color and slaves for capital crimes* Grmvl jti*
rors who presented the offende would of ebursd
be incompetent to try the offender,
A statute was passed in the year eighteen
hundred and tweiity-tiino, declaring that
grand jurors should be botitld tt) potlbb of
make presentment of such offences only as
might or should come to their knowledge after
they have been sworn. There Cfth be nd good
reason assigned wherefore the morals and
good order of the community should fihti HO
favor iu the eye of the law, except during thb
week of the session of the Superior Court, ih
each county. Tile office of a prosecutor,
whether justly or unjustly, is invidious ; and
few individuals step forward for the purpose
of bringing offenders to justice, except in ca
ses where their rights have heeti assailed j but
grand juries, under a proper regulation of
their duties, are shielded from the imputation
of Unworthy motives, and may be made pow
erful agents in promoting the Wfel fare of socie
ty. 1 would recommend the repeal of thd
law above mentioned, and the enactment of
one in its stead, making it their duty lb pre*
sent nil crimes, of the higher order at least,
that may have been committed ivtlhitl their
knowledge, at any time since the torm of (he
court preceding that at which they are called
to serve, The extraordinary powers of the
rm'.lic fund* Every step it took, however, of the Legislature. But besides this ioatitu- by the act of December last. The directors in i di i n j proved, be Called Upon during
«;Sd «nt«fraudi.!*,; lion, I ufeM Mirt the pfcHe Intent WinJ thcBelv* m,»Me to neke « ;«l« m l
grand inquest might be put in requisition filBtJ
to rid our cities, towns and villages Of the
idleness and profligacy that infest them.
In the year eighteen hundred and tlurljf
nine nn act Was passed for amending the con
stitution, providing for biennial instead of an
nual sessions of the Legislature, and the peo
ple were called on to express their will on the
subject at the then next general election.—-
This was done, and they gave a most decided
approbation of the measure. Froin Sbinc
faiilt in the law which had been passed on thd
subject, it was rejected by the last General
Assembly, but another act was irii'medinfljr
passed remedying the defect, and this will nbW
come before your consideration. The llfi*
mense expense ofthe Legislature of Georgia,
being more than double that of aiiy other
slate in the Union, hhd the constitutional pow
er of the Executive to convene the Geheral
Assembly on extraordinary occasions, had
doubtless a powerful agency in influen
cing the popular decision on this measure, find
strongly commend its adoption to yoti. Thd
annual snving to the people of Georgia Will bd
between fifty and sixty thonsahd dollars: A
consideration not to be lightly regarded.—-
The annual expense of legislating, including
the public printing, is about 6tie hundred and
ten thousand-dollars, so that every alternate
year this immense sum would be saved, With*
out the slightest detriment to the commbh-
wealth. Should the amendment be bfloptedi
it will gt) Into effect on the thirtieth flay of
September, eighteen hundred and forty three,
so that the first session of the.General Assem
bly, under the bew regulation, will be ib No
vember of that yeah Should the constitll*
tion be altered, 1 would recommend yon tt
provide by law, that if the term of office Ofthe
judicial or other officers of Government, eligi
ble by tlie General Assembly, should expire,
during the recess of the Legislature, that till
