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VOIAJMI
MILLEDGEVILLE, GEORGIA, TUESDAY, NOVEMBER 9, 1858.
NUMBER 45.
r m. O R M E & SON ,
I r0RS AND PROPRIETORS.
. :< of
T i RirconDKR 13 published weekly, at the low
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) I Turn Plrxr
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n l if not within the year. Three Dotuns
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ir/tsTt;
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‘'.-‘l in d and Negroes, by Administrators, Exec-
~’r Gn'dims. are required by law to be held on
■■ ' 1 „ ( • )V jo the month, between lire hours of ten
; :;i-, 1 1 ‘ i(jn j n ,l three in the afternoon, at the Court-
; ! ' j?, ‘. l)Ua ty ij which the property is situate. No-
' Ajesp sales must be given in a public gazette
“ ’ previous to the day of sale.
|3 r ? 1 fir the sale of Personal Property must be giv-
' ' tfs days previous to 'lie day of sale.
(■;' Debtors and Creditors of an Estate must be
'1.4 forty days. ■ , _
• fiat application will ne made to the Court of
/- leave to sell Land or Negroes, must be
weekly for TWO months.
: , ■ s hr Letters ot Administration muslbepnb-
' digs—for Dismission from Administration,
■ ' U months—for Dismission from Guardianship,
/I-fir Foreclosure of Mortgage must be publish*
‘ . 1 -,r f.nr ninths — (or establishing lost papers.
' ~i‘ ni!l sure of three months—for compelling titles
' d. ,., irs ur Administrators, where a bond has
' . ,, the deceased, the fullspa.ee of three months.
h l ions will always be continued according to
>eal requirements, unless otherwise ordered,
sinessin the line of PRINTING will meet with
' . Mention at the ReCORDF.R OFFICE.
a0 v.ERN O R'S MESS AGE.
EXECUTIVE DEPARTMENT,
Mii.i.edgkville, Ga., (
November 3d, 1853. $
fiZ/otr Citizens of the. Senate
and linns/ tf Representatives :
T taffords me much pleasure to be able to state
• financial condition of the country is great
improved since the adjournment of your last
i t. Previous to that time, the commercial
aggravated by :i general suspension of spe-
by the banks of many of tlie States,
[in r most of the hunks of this State, attended
oust and loss of confidence, had depressed
• M irit "f our people, and seriously affected all
r.vreat interests of our State.
hanks and hanking.
On the 2’2d day of December last, botli branch-
• • • General Assembly passed, by a constitu-
lnajority, without Executive sanction, an
[entitled “an act to provide against the forfeit-
tli ■ several bank charters in tliis State, on
::■! of non-specie payment foDa given time,
: r other purposes therein named.” This act
M-kitthe duty of the Governor to withhold pro-
[■ L a< under tlie act of 1840, for the forfeiture of
■ ,-iiarter.s of such banks in this State as had vio-
vdthe law, and were in a state of suspension,
• A.the lbtli day of this present month, or till the
Nailing of certain contingencies mentioned in
•,iow, doubtless, of the great imposition prac-
lupon the people by the banks, in taking from
: i usury under the name of exchange, and oth-
. -.[■■■. the usury laws of this State, so far as appli-
« n to banks, were changed by the eighth and
: .:i. sections of said act; by which it is made il-
... A t any bank or bank agency, by itself, its
Arts or agents, directly or indirectly, to loan
i ney at a greater rate of interest than seven per
per annum, and at that rate only for a longer
deter time; or to discounter purchase notes,
-s. or evidences of debt at a greater discount
La seven per cent per annum. And all notes,
drafts and contracts of every sort whatever,
an for money loaned at a greater rate of inter-
stluaseven percent, as well as all notes, papers
. ’.evidences of debt discounted or purchased in
■. .rion of said act, are declared to be utterly null
u: void, and irrecoverable in law.
.tie tenth section of the act regulates the per
•which abank may receive for exchange, when
t: bills are tendered at. its counter in pay-
: :.t therefor, by a citizen of this State.
E. sections containing these provisions were
.’ Atless inserted in the act for the purpose of pro-
the people against the usurious and exor-
exactions of the banks. And to pre vent,
tii as possible, violations of the act, in the par
ti ;::'s above referred to, it is enacted by the
-utli section, that, “The afiidavit of batik effi-
•: i their annual and semi-annual reports, shall,
. case's,state that the bank of which they are
<: srs. 1 as not, by itself, its officers or agents, in
tit particular, violated the provisions of this act.”
Lithe twelfth section makes the offence perjury,
EuiiiJ bank officers swear falsely in making their
i ■its. By requiring of bank officers the solemn
r.-ranty of an oath, under heavy penal sanctions,
t-x:the law has not been violated by. them, the
Legislature no doubt believed they had protected
'•tf.people against such illegal practices in future.
A.though i withheld my sanction from the act
account of other objectionable features in it,
-■. on account of the doubts I entertained as to
c 'Mtitutionality of portions of it, I have no
• t but that such portions of the act as prohib
it taking of usury by the banks, and regulate
- manner of making their annual and semi-an-
■ report?, which apply alike to all banks in the
' A are both constitutional and expedient. Enter
ing these views, on the 1st day of June last I is-
■ A my proclamation, calling on the banks to
Bj te their returns according to law, and to com-
with said eleventh section of the act of 22d De-
-iiber, 1V)7. As this act had been passed by the
••-i.slature mainly for the relief of the suspended
•• ; s and at ti e earnest solicitations of their
nis. I had reason, in common with all law abid-
citizens ot the State, to suppose that they
’’ *d render cheerful obedience to all its re-
■uinnieiits. It is with much regret, however,
11 lmvc to state to the Legislature, that by far
greatest number of the banks whose suspen-
•‘"ii na«l been thus legalized, and whose charters
-au been so recently relieved from liability to for-
.."re. in open violation of the statute passed for
’ it relief, a S well as all the banks in the State
-"li ha 1 not suspended, either neglected or open-
reused to obey the law, and make their returns
■rfiicctr-d hy the positive mandate of the statute ;
i bv p'acing themselves in a position of defi-
to the constitutional authorities of the State,
lathis state of things I issued my proclamation
J -~ required by law, publishing the names of such
mqueat hanks, and notifying the Treasurer of
c -'Mate that their bills wor ld not be received in
!h 'nt of taxes, or of any debt due the State or
j L’rural bank, until they should comply with
‘WVS and make their returns as directed by the
’ " and this they have hitherto neglected to
It■ is evident, therefore, that the penalty of
I ’ ’Ming their bills from the Treasury, which is
viiiv peualty now prescribed by law for a failure
■uake their returns, is not sufficient to compel
| ^'-dience to the requirements of the statutes.—
I ; 'jbtless seme of the banks have made more by
i.g usury, and by disregarding in other respects
i,| ot December last, than they have lost
..^ring the present penalty for not making re
- in accordance with existing laws.
i "r tin; purpose of compelling these corporations
‘ id oh. lienee to law in future, I respectfully
i Dmmeud that the penalty for disobedience be
■Teased, and in addition io tlie penalty already
| 'viihed, that a tax of two percent a month np-
/•> whole amount of the capital stock mention
;- l: the charter of each delinquent bank, be levi-
»nd collected in gold and silver, for the entire
■ " ; e during- which any such bank may in future
: ‘ ll111 hi a state of disobedience and fail to make
j? ret, ! rns as directed by the statutes. There can
ij !i0 J'ist reasons why wealthy corporations should
’Permitted at their pleasure to sot the iaw at de-
: bee, while individuals are compelled to suffer
';-|, r , iis penalties for its violation. The mandates
t il.?, ia>v should be obeyed as promptly and im-
'f? 1 h. v the most influential and wealthy as by
PO'irest and most needy. This is republican
h,.i • y> Hr >d our people should be content with
“^mg less.
Ir5° s,|t ' aci " had the act of 22d December, 1857,
Pro* 1 -I >asse J, than the banks, forgetful of their
f r JI | Uses > t« expand their circulation, to discount
aB d relieve the country, refused to discount
j,■ however good, when offered to them in a le-
'tte i mrse of banking business, or to extend
«i f®moJations to any except perhaps to a favor
t, ir ew "l j Uc h as cotton buyers and other specula-
\ merchants atd others compelled to have
i:?’ . 111 rn exchange, were generally unable to ob-
t,,,? 11 h>r less than three percent. The price of
t hi declined, and monetary distress became geu-
■p ,1:l , 0,i ohoiit tlie State.
J,l e *“ ,)a, ‘ks having thus abused the generous con-
ii ill ' 1( ? e re P‘>'ed in tiiem by the Legislature, con-
•fterd ° eil -i'>y the benefits of the suspension long
hanks of the great cities ot the North and
j>ii ! * ,iu| cd specie payment, and until the
41 ‘mgnatiou of an injured people, expressed
through the public press, by public meetings and
no led W V beCa 'rV? prCVfUent tli at they felt corn-
p i d by fear of future consequences, to retrace
their steps and curtail tlie speculation they otlier-
T .Pv ,T° U r haVG mflde out of ‘he ^pension,
of °« prep f ed I 0 r «">™ on the first day
Six monfc ’- U A adll,ltU "g. hy their resumption
statute^ S ♦tn advance of the time fixed by the
i r i w such necessit y as they represented
to the Legislature ever did exist for the passage of
or~a like sum. If they should take out §400.000
of their specie and invest it in real estate or other
property, leaving but §100,000 of specie in vaults,
they may still contract debts to the amount of a mil
lion and a half, and may point in triumph to the
language of their charter, and io the fact that the
$500,000 of capital stock was once actually paid in,
as their authority for s0 doing.
1 his bank legislation of our State does not seem
the act. A gentleman of VrcniM’v! f J° have been well understood by our people. They
who is at the head of one of the mnsMn w ® rth ’ ! have generally believed that our banks, by tlie let-
i i. ,, the most important and ter of their charters, w-m-p rMiiirmltn Uvunn
influential banks in the State, in his report of May
wl'I i ) i P0l f 0g ! ZI ^ for the suspension, and re-
tiH the 15th'of NA tLa K the Le ff islatl,re had given
eraber> sa JS : “Our bank, impa-
1 n. a^ der the su PP° se ^ odium of suspension, re-
ca , o resume on the first of the present month,”
aiay.; it is a fair inference, therefore, that the
d i i aV °. continued the suspension till
r ' XC< ^ b ^ r ^ IlG ac t for tiiem to resume, but
for the pressure of public opinion, and their in,pa-
ttcnce under the supposed odium of suspension.”
1 ublic opinion having thus compelled the banks to
™me before the time fixed by the statute, and
tbe crisis having passed, we, as rational men,
should learn w isdom by experience, and trv to pro
vide as far as possible against abuses of their privi
leges by these corporations in future.
I presume it will not be denied by any one, that
•w e have erred by a too liberal and unguarded grant
o corporate powers and privileges tomoneved mo
nopolies. And it is believed that a future exten
sion of this policy would soon enable these monop
olies to control the government of Georgia and
make the people the subjects of their power. It. is
already claimed by some, that they now have the
power, by combinations and tlm free use of large
sums of money, to control the political conventions
and elections of our State, and in this way to crush
those who may have the independence to stand by
the rights of the people in opposition to their a' r -
gressix e power. I trust that the bold, independent
amt patriotic people ol Georgia may never be com
pelled to bow the neck in subjection to the yoke
thus intended to be imposed by the corporate pow-
etsol the State. Let it not be forgotten, however,
by tlio.se w ho have watched with anxiety the grow
ing power of corporate influence, that tlie price of
republican liberty is perpetual vigilance.
I lie monetary and commercial aff airs of the coun
try must necessarily remain subject to panics, un
der heavy pressures, at certain, if not frequent in
tervals, as long as our present banking system is
continued with its enormous powers and privileg
es, which have been enlarged and extended by le
gislative enactment, chartering new banks from
year to year. The people should take this subject
into serious consideration, and pronounce upon it
a calm and deliberate judgment. Every intelli
gent person must admit that it is impossible for a
bank having a paper circulation three times as
large as the amount of its specie, to redeem all its
bills in specie on demand. Should all its bills be
presented tor payment at any one time, and the
specie be demanded, it can then redeem but one-
third of them. In that case, if the bank lias suffi
cient assets, or property, the other two-thirds m;.y
possibly not be an ultimate loss, but payment must
be delayed till the money can be realized by a di -
position of those assets and property, which may
not be till the end of a lengthy and uncertain ne
gation. It is clear, therefore, that our present ] .i-
per currency is not a currency convertible, at ; 1
times, into gold and silver upon presentation; ai d
that only one-third of it, ’ ould payment be co
manded on alia 1 or. tin can, in the nature
things, be so convert Ale, ■
sue three dollars in j ier i
In my judgment li ■ par
is not so regulated as ,o In
vertible into gold u sir
pie, by a sort of ccn son
of thp banks and use len
aiity they rest upon ; > so
experience has tan it i
ing medium subject the
first breath of distri • or
produced by the fail ii re o.
large circulation an . 1 ex:
other banks, and may '
prostration of the c lit
Such a currency, ha tig
be available only sc ong
consent to receive p nis. -
money itself.
The peojle take
money. The banks
change, upon them
loo
as the banks
>r oin in coin,
cu ency is safe w liich
it a times readily co -
r. t is true, our peo-
nsc t, receive the bills
s it ney, though in re-
sp :ie basis. But sad
th. such a circulat-
ouiitry to panic at the
spi 'on, which may be
i sin gle bank having a
isiv connections with
len and extend to ti e
the whole country.—
solid specie basis, can
.s the community will
to pay money in place of
•om he banks their bills as
ceix interest and often ex-
\Y n required to redeem
their bills in specie, they s 'spend, if they choose to
do so ; and then, if in at' empt is made to coerce
payment in specie, they resist it, holding a rod
over the people by threat -ning to make them pay
upon a specie basis debts contracted by them for
the bills of the banks : notwithstanding those bills,
when they received .hem. rested on a basis of on
ly one third specie. The high prerogative of exer
cising banking privileges, and of issuing their own
notes or bills to be circulated as money, not resting
upon any solid specie basis, is secured to tlie banks
under our present system of legislation as an ex
clusive right, while exercise of similar privileges
upon like terms is denied to all individual citizens
of the State by stringent penal enactments.
The privilege of using their own notes as mon-
ev, gives to the favored few who enjoy it, immense
advantages over their fellow citizens, and may of
ten enable tlie managers of these corporations to
amass great wealth by their high salaries and large
profits. It may however be said, that many of tlie
stockholders are widows and orphans; that the
stock is in the market for all, and that the divi
dends are not greater than the profits realized from
other investments. This may be admitted. In
deed. it seems in practice to be generally true, that
corporate privileges do not result so much to the
benefit of the mass of stockholders as to the benefit
of the few who manage tlie corporation. To esti
mate correctly the profits made out of the people
by those engaged in banking, we mast not only
count the dividends of seven, eight or ten per cent,
distributed among the stockholders, but we must
also take into the account the banking houses,
real estate and other property purchased out of the
profits of the bank and held by the corporation. Be
sides, we should consider a reserved fund of two,
three or four hundred thousand dollars, made up
of accumulated profits, and often kept back by our
larger banks and not distributed-among the stock
holders, together with the high salaries of all the
officers of the bank, which must be paid before any
dividends are distributed. These sums, though
made out of the people by the banks, are not semi
annually divided among the stockholders. Io
these add all sums paid to attorneys, agents, &c.,
and all amounts lost by defaulting agents, winch,
while they cannot be set down as profits of tlie cor
poration, since neither its officers proper nor its
stockholders are benefited thereby, are stiil sums
of money which, under the workings of the sys
tem, are drawn by the corporation from the pock
ets of the people.
To all this add the large sums lost, almost every
year, on account of broken banks, whose bills are
left worthless in the hands of the people, who have
paid fuli price for them as money. And take into
the account tlie further fact that tlie State, m isl
and 1849, issued $515,000 of her bonds to meet ucr
liabilities on account of the Central Bank, §240,-
000 of which are still outstanding. And that in
]355, she issued §18,500 of bonds to pay her in
debtedness on account of the Darien bank, which
are still unpaid, making f 288,500 of bonds on ac
count of these two banks which still remain a por
tion of the public debt, the interest upon which
is paid annually out of the taxes of the people and
wc may form some estimate of the amounts which
tlie people of Georgia have paid and continue to
pay in taxes, and suffer in losses, to sustain the
banking system.
Again, in many instances, those who control
tlie corporation may have great advantages m be-
in<r able if they choose, to obtain such accommoda
tions as they may desire, by the use of its funds,
when a favorable opportunity for speculation oc
curs. The dividends paid to stockholders are
therefore no proper criterion by which to judge ot
the advantages of the corporation to those who
hold its offices, and control and manage its capital
and its operations ; or ot the sums lost by the peo
ple on account of the workings of the sj stein.
Thus far I have discussed this question upon the
supposition that the liabilities do not exceed tlnec.
dollars for every one of specie actually on hand
in the banks to meet and satisfy them. This sup
position is more favorable to many of the banks
than facts will justify. The law of their charters
only requires that their liabilities shall not exceed
three dollars for every one of capital stock actual-
Jv paid in, and not three dollars for every one Oi
specie on hand to meet those liabilities. _ As an
illustration of tlie error of our present legislation
in incorporating banks, suppose tlie amount of the
capital stock of the bank be limit-:’ by the char
ter to §51)0,090, which is to be paid in, in gold and
silver, by the stockholders. The charter then pro-
\-ides that the liabilities of the bank shall at. no tune
exceed three t imes the amount of the capital stock
actually paid in. The stockholders pay in the
§500,000 in gold and silver. The directors of the
bank may then, without any violation of the letter
ot the charter, incur liabilities agiunst the bank to
any amount that does not exceed §1,500,000; and
that too, without any obligation on their part to
keep in their vaults the §500,000 actuahy/>«uf tn,
ter of their charters, were required to have on hand
at all times an amount of specie one third as large
as the entire amount of their liabilities. The banks
have understood the matter very differently, and
have not only claimed, but exercised the right when
they regarded it their interest, to extend their lia
bilities far beyond three dollars for every one of
specie actually on hand to meet those liabilities.
By examination of their returns made to this De
partment in October, 1857, it will be seen that at
the time of the late suspension .of our banks in Au
gusta and Savannah, the liabilities of one of them
for bills in circulation and individual' deposits, ex
ceed thirteen dollars for every one dollar of both
specie and bills of other banks which it then had
on hand. Another had one dollar in specie in its
vaults tor every fifteen dollars of its liabilities for
bills in circulation and deposits. Another had
not one dollar m specie for every seven of liability
tor bills in circulation and deposits ; and another
had only one dollar in specie for every eleven dollars
ot its liabilities of the character mentioned above.
It is true these banks had other assets, but those
assets were not money. The question naturally
suggests itself, how can such a currency he con
vertible into gold and silver—the money of the
constitution—on demand or presentation ? How-
can a bank with fifteen dollars of cash liabilities for
every one dollar in -specie, or even of five dollars
for one, pay its liabilities promptly on demand ?
It is impossible. And how can its bills be justly
considered safe as a circulating medium, or as
money, if it cannot redeem them promptly on de
mand ?
In consideration of all the imperfections and
abuses of our present, banking system, I am of
opinion that we should do all in our power to
bring about its complete reformation, and if this
be not possible, we should abandon it entirely. 1
am the advocate of no harsh measure that would
either violate the legal rights of the present corpo
rations, (however unwisely they were granted,) or
that would bring distress upon the people, by a
sudded return from a paper to specie currency. A
reformation so radical, if attempted, must be the
work of years. If the legislature would continu
ally refuse-to charter any new bank, or to enlarge
the capital stock of, or re-charter any bank now in
existence, the system would gradually work itself
out by efflux of time; and we might, without any
sudden shock, return safely to the currency of the
constitution, plant ourselves upon a firm specie ba
sis, and rid ourselves of a system against which the
great and good men who conducted the revolution
and formed our constitution intended to guard their
posterity, when they, declared in the constitution
that nothing but gold and silver coin should be
made a legal tender. .
In two of the States of this Union banks are pro
hibited by constitutional provision: two others
have no banks, and another had but two small
banks, whose charters, it is said, have been forfeit-*
ed by the late suspension. And I am informed
upon what I consider reliable authority, that the
late commercial pressure was comparatively but
little felt within the limits ot those States.
Should our people determine, however, to con
tinue the present banking system, and to charter
new banks, increasing their number and thereby
increasing their power, in the State, I would re
spectfully urge tlie importance, of guarding all char
ters with much greater stringency in the future.
Let the charter of each provide that the entire lia
bilities of the bank shall, at no time, exceed three
dollars for every one of specie actually in its vaults
and bonn fide the property of the bank, on pain of
immediate forfeiture. Let the simple fact of sus
pension of specie payment render the charter ab
solutely null and void. This would deter them
from engaging in such wild speculations and over
issues as compel them to suspend in case of pres
sure. Let provision also be made that all execu
tions issued against the corporation may be levied
upon the property of any stockholder until tlie
creditor be satisfied, leaving the stockholder to his
legal remedies against the rest of the stockholders
to enforce contribution among themselves. Let
the bi lls of the banks in the hands of the people at
the time of suspension, bear interest from that
time till paid. And let the Legislature retain
the right, by express reservation in the charter, t o
alter, modify or repeal it at pleasure. In my opin
ion it would be best for the Legislature to refuse to
grant a charter to any corporation for any purpose
whatever without retaining a similar power, should
its exercise be required by the interests of the
State or the public good. If the corporation is un
willing to trust the people with this repealing
power, how much more should tho people be un
willing to trust the corporation without it I
PROHIBITION OF SMALL BILLS.
Several of the States have already passed laws
prohibiting tlie emission by their banks of small
bills. I once entertained doubts whether our Leg
islature could do this without a violation of the
chartered privileges of the hanks ; but on more ma
ture reflection and careful examination, those
doubts are entirely removed from my mind. I
therefore recommend tlie passage of a law prohibit
ing the emission of small bills by the banks of this
State, and forbidding, under heavy penalties, the
circulation within this State of bills of a like de
nomination issued by banks of other States. Such
an act might prohibit the circulation of all bills of a
denomination under ten dollars, after 12 months af
ter the passage of the act, and those of a denomi
nation under twenty dollars in six months thereaf
ter, or at such other stated times as might be
thought best, so as not to embarrass the business
transactions of the country. The effect of such a
law would ho to cause small hills to he withdrawn
from circulation, and as they must be redeemed by
the banks with specie, the specie w'ouid go into
circulation in their stead. This would cause gold
and silver to take the place of bank bills in all the
smaller business transactions. The laborer would
then receive the juice of his labor in gold and sil
ver, the farmer of small means would generally re
ceive the price of his produce in gold and silver,
which would remain good however much bank bills
might depreciate.
SUB-TBEASURY SYSTEM.
I also beg leave to call the attention of the Gen
eral Assembly to the propriety of establishing by
law a system of our State similar to the Sub-treas
ury system of the United States, the wisdom of
which lias been fully demonstrated by the benefi
cial results of its practical operation I earnestly
recommend the adoption of such a system. Let
all payments into the treasury, after a reasonable
time to be fixed by the Legislature be made in gold
and silver, and let the State pay the interest upon
her public debt, the salaries of her officers, the per
diem of her Legislators, the money duo the several
counties for school purposes, together with all her
other liabilities, in gold and silver. Of course the
system should go into operation gradually. This,
in connection with the prohibition of the circula
tion of small bills, would keep out of the banks and
in circulation among the people a large amount of
coin, placing the currency upon a much more solid
specie basis, making the people more independent
of banks, and enabling them to withstand the
shock with much less injury in case of a commer
cial crisis and bank suspension. It is believed
that no serious inconvenience could result to the
tax payer from such a law, as the gold and silver
paid into the Treasury by those indebted to the
State, would be returned by the State in the pay
ment of her debts due lo her creditors, and would
again go into circulation among the people.—
Should any inconvenience be apprehended in the
transportation of specie from the treasury to the
creditor, provision might he made authorizing cer
tificates of deposit to be issued, which might be
paid to the creditor at bis request in place ot the
coin. These certificates of deposit might be of
such denomination as the Legislature may pre
scribe, handsomely engraved upon steel plates,
which plates should be deposited in the Treasury
for safe keeping. Each certificate might be signed
by the Treasurer and countersigned by tlie Secre
tary of State, with the impression of the great seal
of the State stamed upon it, and a register of the
issue of each kept in the Treasury to prevent coun
terfeit. These certificates might be made pay
able to the person to whom they first issue
or to bearer. They would supply the place of bank
bills so far as the convenience of paper currency
are concerned, while they w ould be subject to none
of tlie fluctuations of value and the uncertainties of
bank bills. They would be taken at the option on
ly of the creditor in place of gold and silver, 'lhe
gold and silver, dollar tor dollar, would, when
they were in circulation, remain in the vaults of
the Treasury to redeem them when returned to it.
These certificates, thus predicated upon coin in the
Treasury, dollar for dollar, would be receivable in
payment of taxes or of any debt due the State. They
would be a safa medium of exchange, and would,
to the amount of their issue, bo a paper currency at
all times convertible into gold and silver upon
presentation at the Treasury, Each dollar of paper
would have for its basis a dollar of specie in the
Treasury, and as the faith of the State would be
pledged for their redemption, it would be impossi
ble for any citizen to sustain loss upon them. They
would be a currency at all times and under all cir
cumstances of uniform par value. This would ren
der the government of the State entirely indepen
dent ot all banks and bank agencies, and would in
a very great degree destroy the power of the banks
over the people, while it would give the people
gold and silver change in all their small transac
tions, and a paper currency perfently secure in ma
ny of their larger ones.
The suggestions made by the Secretary of the
Treasury ofthe United States, fMr. Cobb,) in his
late report to Congress upon the subject of the es-
sablishment of a Sub-Treasury system by the States,
similar to that of the United States, and the prohi
bition of the circulation of bank bills under the de-
nomination-of twenty dollars,are, in iny judgment,
founded in wisdom, and commend themselves to
the serious consideration of the Legislature. The
State of Ohio lias already shown her appreciation
of the wisdom of these suggestions, by transferring
much of their substance to her statute book, allow
ing sufficient time for the gradual inauguration cf
the system into practical operation.
WESTERN & ATLANTIC RAILROAD.
For a statement of the present condition of the
Western <fc Atlantic Railroad, its operations and in
comes for the fiscal year ending 30th September
last, I beg. leave co refer yon to the report of Dr.
John W. Lewis, its able and efficient Superinten
dent who lias shown himself to he a most vigilant,
active, and valuable public servant. In passing
this well merited compliment upon the fathful Su
perintendent, I would do injustice to his associate
officers, and the other agents and employees of the
lload, were I to fail to express my entire confidence
in iheir integrity and business qualifications, and
to coinmend the zeal and energy with which they
have exerted themselves for the success of the
Road and the advancement of the best interest of
the State. For their efficiency, fidelity and integ
rity', they have’ my sincere thanks, and are, in my
opinion, entitled to the thanks ofthe whole people
of Georgia.
Owing to the commercial pressure, and the con
sequent stagnation of fade and business, the gross
incomes of the Road during the present year, from
freight and travel, have been less than they were
for the previous year, which was one of unusual,
prosperity. The low price of corn, wheat and oth
er kinds of grain during the present year, has, in a
great degree, prevented their shipment. Not only
were the prices of wheat much lower than they
were the year previous, but the quantity made in
all that section of country which supplies the Road
with freight, was much less.
Merchants limited their purchases of goods to
the limited demand for them in the country;
hence, the diminution of incomes to the Road on
account of freight on merchandize.
That portion of the Road track between Tunnel
Hill and Chattanooga, (seven miles excepted) was
in a very bad condition when Dr. Lewis took
charge of tlie Road, and it has required a great deal
of costly repairs. A considerable portion of tlie track
between those points lias been taken up and thor
oughly repaired, and small stones pounded into the
earth under the new cioss tics at several places
where in wet weather the earth is so soft that the
Road-bed could not otherwise he made firm. This
kind of rep urs is quite expensive, but is believed
to be cheap st in the end, as the track in these soft
places will eniain firm when once bedded in stone.
The entire track is believed to be in better condi
tion than it has been for several years, (a force of
about three hundred handsTiaving been employed
in its repair most of tlie summer,) and all the roll
ing stock is in good order. Repairs have also
been lately made at Allatoona, Petit’s Creek and
the Tunnel.
Since your last meeting one thousand tons of new
T iron have been'purchased,which has all been paid
for since the 1st day of January last. This will lay
about eleven miles of the track with new, heavy
bar. Part of this iron has already been laid down
upon the track, and the remainder, now being re
ceived, will soon be laid down. Other new iron
will he purchased as fast as it is needed.
It is a matter of great importance that tlie Road
be kept in good order. For this purpose it is
proper that several miles of the track at different
places should he laid with new iron every j'ear;
otherwise a large portion of the track might wear
out at the same time, requiring a very heavy outlay
to replace it. I hold that no administration, for the
purpose of paying money into the Treasury or oth
erwise, has a right to let the road run dow. He
who does it deserves to be condemned; and 1 am
willing tbatrny administration, so far as the man
agement of the Road is concerned, shall be judged
by this standard.
According to the report of the Senate Commit
tee, the present Superintendent, when he took
charge ofthe Road, 1st January last, was chargea
ble with assets amounting to” about §57,324 15,
due from connecting Roads and solvent agents,
with a balance in ’-e Treasury of §15,907 43.—
And lie paid, according to the report from 1st Jan
uary to 1st July the sum of §157,773 23 to credi
tors of the Road, on account of indebtedness con
tracted prior to 1st January, 1858, and had in the
treasury of the Road 1st J uly a baliance of §35,010
96. It will be seen therefore, that the amount in
the treasury was much smaller 1st of January than
it was 1st. of July : and the amount of debt contract
ed by former administrations of the Road, and
paid by the present Superintendent from 1st
January to 1st July, 1858, was §100,449 08 larger
than the amount of solvent assets turned over to
him. The present Superintendent would seem
therefore to be entitled to this sum, paid out
of bis net earnings as a cash eiedit. In this
sum is included the price oi 400 tons of the new
iron above mention, which was ordered by the
former Superintendent prior to 1st of January last,
and lias been paid for and laid down by the pres
ent Superintendent since that time ; who lias also,
through the Treasurer of the Road, paid into the
State Treasury, commencing with the month of
March last, §200,000. Of this sum §175,000 had
been paid in at the date of his report of 30th of
September, and §25.000 since that time for the
month of October. The current expenses of the
Road have been paid. No new debts are permit
ted to accumulate which are not promptly paid, if
the creditor can be found, at the end of each month.
The new passenger depot at Chattanooga is in
process of construction under the. superintendence
of the Chief Engineer of the lioaa, with workmen
hired bv the general Superintendent. The binding
is i i > 1 feet wide and 303 feet long, and is a very
solid and well built structure. It is built of stone
to the spring of the arches, which are turned with
brick. It is expected to be completed and ready
for use in a few wo iks. All expenses of this struc
ture have been pa' I monthly. It is intended that
the depot he usud by all the Roads connecting at
that, place. As some of tiiese Roads were not in a
condition to incur the expense at the time the work
was commenced of contributing to its erection, it
was thought best, as there was great need of the
depot, for our Road to go on and build it, and take
the obligations of the connecting Roads for their
proportion of the expense. The Nashville & Chat
tanooga Rond takes (one-fourth interest in the de
pot, and pays §10,000. The East Tennessee and
Gdtirgia Railroad Company agrees to take another
fourth, and to pay a like sum. at two and three
years from the time they are ready to use it- with
semi annual interest at the rate of seven percent,
per annum ; and it is believed that the Memphis
and Charleston Road will also take a fourth in
terest.
Dr. Lewis took charge of the lioad on the first
day of January last, and was under the necessity
of applying the net earnings of the months of Jan
uary and February in payment of debts against
the Road which existed prior to that time, and for
necessary repairs on tlie Road, including payment
for iron previously ordered. It will be seen that
the payments made into the State Treasury from
the first of March last to the present time, have av
eraged twenty-five thousand dollars per month. It
is believed in future that all necessary repairs can
be made, all current expenses promptly paid, eve
ry department of the Road kept in first rate order,
and that an average of §25,000 a month can be
paid into the. State Treasury, from year to year.
This may be regarded by some as an over esti
mate of the legitimate net earnings to be realized
in future from the Road. As an evidence, howev
er, of my confidence in its correctness, I have no
hesitation in saying that I would risk my personal
fortune on the result. Were I satisfied that it were
the desire of the Legislature and people of Georgia,
I would bind myself as an individual to take the
Road for a term of ten years commencing first of
January next; and I would give bond in any rea
sonable sum which might bo required, with ample
security, to return ii in as good order as It was 1st
January last. I would lay down ten miles of new
T iron on the track evory year, the old iron token
up, or the price of it, being mine. I would take
tlie benefits and the burthens of all contracts made
by the authorities of the road since the 1st of Janu
ary last, receiving all sums owing to the road and
paying all debts owing by the road on contracts
made sinoe that time. I would bind myself that
the present price of freights should at no time be
increased, if such increase would make tlie freights
higher than the average price charged for freights
by the other roads iu Georgia; and I would pay
into the Treasury of the State §25,000 per month
for the use of the road, its equipments and appur
tenances, to be paid monthly in cash or in bonds of
the State, or in the bonds which now constitute
the funded debt of the road : for the payment of
which, the faith of the State has been pledged for
years. And every time a payment should be de
layed twenty-five days after it was due, 1 would
forfeit and pay to the State §10,000 for the delay.
This would be §300,000 per annum principal be
sides interest. And a term of ten years at these
rates, counting simple interest at seven per cent,
per annum on each monthly payment from the time
it was paid into the Treasury till the end of the
lease, would yield the sum of §4,041,250, for the
use of the road f->r that time.
Regarding the question as settled, therefore, that
the road with proper management will pay into the
Treasury §25,000 per month, or §300,000 annually
clear of all expenses and repairs, tlie inquiry nat
urally arises, what disposition shall be made of the
money?
PAYMENT OF THE PUBLIC DEBT—COM
MON SCHOOL SYSTEM.
The public debt of tlie State amounts at present
to§2,030,500, payable at different times during the
next twenty years. A largo portion of this debt
lias been contracted from time to time oil account
of the State Road. This debt, it vv’ll be remem
bered, is subject by legislation, already bad, to be
increased §900,000. on account of t ie State’s sub
scription for stock in the Atlantic and Gulf Rail
road Company. This would make the whole debt I
§3,530,500, should no part of it be redeemed before
the bonds of the State for the above mentioned
§900,000 shall have been issued. By the terms of
the contract with the Bondholders, §289,500 of this
debt is now subject to be paid at the option oPthe
State, though payment cannot be demaned till 1863
and 1868. The Central Bank Bonds arc also fal
ling due in considerable sums annually. Good faith
requires that the debts of the State be promply
met. when due. And sound policy dictates that ’
such bonds as are due or not, at the option of the ;
State, be taken upas fast as she lias the means. j
The net earnings of the Western and Atlantic |
Railroad are already pledged for the payment of a
large portion of this debt. I therefore recommend
the passage of an act setting apart §200,(101) per
annum ofthe net earnings of the road, to be applied
in payment and purchase of the public debt. And.
in view of the great and acknowledged necessity
existing for the education of the children of the
State, and of the immense advantages w hich would
result the establishment of a practical Com
mon Smiool system, I further recommend that a
sum as large as the entire amount of the public
debt, beset apart as a permanent Common School
Fund for Georgia, to be increased as fast as the pub
lic debt is diminished; and that the faith of the
State be solemnly pledged that no part of this-sum
shall ever be applied to, or appropriated for, any
other purpose than that of education. Let the act
make it, the dtity of the Governor each year as soon
as he shall have taken up the §290,000 of the
State's bonds, to issue §200,090 of new bonds, pay
able at some distant period to be fixed by the Le
gislature, to the Secretary of State as Trustee of
the Common School Fund of the State, with semi
annual interest at six per cent, per annum. The
bonds to be deposited in the office of the Secretary
of State. As the public debt is thus annually di
minished the School Fund will be annually increas
ed, until the whole debt is paid-to the creditors of
the State, and the amount paid converted into a
School Fund. And as the fund is increased from
year to year, the amount of interest to be used for
school purposes will be likewise increased.
Should t his plan bqfadopted, in a few years the
school fund of Georgia, including the present fund
for that purpose, would be in round numbers §4,
0011,009. The amount of interest accruing from
this fund, to be expended in erecting school hous
es and paying teachers, would be §240,000 per
annum. Tain aware of the difficulties which have
been encountered by those who have attempted
heretofore to devise a practical and equal school
system for the State, owing in a great degree, it is
believed, to the fact that portions of our State are
very densely, while others are quite sparsely popu
lated. But the fact of our inability toraccomplish
all we may desire is no sufficient reason why we
should neglect to do that which is in our power.
Probably the principal cause of our failure in the
past is attributable to a lack of funds and of compe
tent teachers.
With the gradual increase of the fund proposed,
it is not doubted that the wisdom of our State would
from time to time improve our present defective
system till it would be so perfected as to afford the
advantages of an education to all or nearly all
the children of the. State. Let the teachers be paid
by the State, and let every free white child in the
State have an equal right, to attend and receive in
struction in the public schools. Let it be a Com
mon School, not a Poor School System. Let the
children of the richest and the poorest parents in
the State, meet in the school room on terms of per
feet equality of right. Let there be no aristocracy
there but an aristocracy of color and of conduct.
In other words. let every free white child in Geor
gia, whose conduct is good, stand upon an equality
of right with any and every other one in the school
room. In this way the advantages ot education
might be gradually diffused among the people, and
many of tlie noblest intellects in Georgia, now be
dimmed by poverty and not developed for want of
education, might be made to shine forth in all their
splendor, blessing both church and State by their
noble deeds.
Should §4,000,000 be insufficient to raise annu
ally the stun required, the fund might be increas
ed from the incomes ofthe road, to any amount ne-
ce.'sary to accomplish the object. The interest on
this fund should be semi-annually distributed
equally, among the counties, in proportion to the
whole number of free white children in each, be
tween six and sixteen, or of such other age as the
Legislature may designate. Authority should also
be left with each county to tax itself, at its own
pleasure to increase its school fund, as at present.
And it should be left to the Inferior Court, or School
Commissioners of each county to lay off the coun
ty into such School Districts as will he most con
venient to its population, having due regard to
their number and condition.
EDUCATION OF TEACHERS.
Assuming that provision will be thus made to
raise all the funds necessary to build school-houses
and pay the teachers to educate all. the free white
children of the State, the next question which pre
sents itself, and perhaps the most important on§ of
all is, How shall the State supply herself with com
petent teachers, raised in her midst and devoted
to her interests and her institutions—Southern uven,
with Southern hearts and Southern sentiments?
For the purpose of educating Georgia teachers
in Georgia colleges, I propose that the State issue
her bonds payable at such distant times as the Le
gislature may designate, bearing interest at seven
per cent-, payable semi-annually ; the interest to
be paid out of tlie net earnings of he State Road,
and the bonds to be redeemed out of its proceeds,
should it ever be sold. That she deliver §200,000
of these bonds to tho State University, at Athens,
as an additional endowment; §50,000 to the Geor
gia Military Institute, at Marietta, and §50,000 to
each of tlie three denominational colleges iu the
State, in consideration that each of said five Col
leges, will bind itself to educate, annually, one
young man as a State student for every §290 of an
nual interest wbiqh the endowment given by the
State pays to the College ; furnishing him with
board, lodging, lights, washing, tuition, and all ne
cessary expenses except clothing, which might be
furnished by the student himself or his parents.
The interest on this §400,090 of bonds would be
§28,000 perannum. This sum would maintain and
instruct, as above suggested, one hundred and forty
young men annually, being one from each county
iu the State, and two from each of the fourteen
counties having the largest population, unless other
new counties are formed. I propose that these
young men be selected from all the counties in the
State, from that class only of young men whose pa
rents are unable to educate them, and that only
such be selected as are of good moral character, in
dustrious and attentive, who desire an education,
and who give promise of future usefulness. That
the selection be made in each county by a compe
tent committee appointed by the Inferior Court,
after an examination at some public place in the
county oi all such young men as desire to become
beneficiaries, and u ho will attend on a day to be
fixed by the Inferior Court, after giving due notice.
Let the committee be sworn that they will be gov
erned in the selection by the merits of the appli
cant, without prejudice or partiality; and that the}
will select no one whose parents are known to be
able to give him a collegiate education without do-
ing injustice to the resi of his family. And I pro
pose that the place of any such student in college
be supplied by another, whenever the faculty of
the college shall certify to tho Inferior Court of
his county, that he is neglecting his studies or fail
ing to make reasonable progress, or that he has be
come addicted to immoral habits- I propose that
the State, in this manner, give to each ot tlie poor
young men thus selected, his collegiate education, |
on condition that he will enter into s\ pledge of hon-1
or, to make teaching bis profession in the county !
from which he is sei;t, fur as many years as lie sliail j
have been maintained and educated by the State
in colloge; the Si/ite permitting him to enjoy the
incomes of his labor, bnt requiring him to labor as
a teacher. •
Many of these young gentlemen would no doubt
adopt teaching as their profession for life. This
would supply the State after a few years with com
petent teachers. And as these young men while
teaching in the various counties in the State
would prepare others to teach without going to col
lege, pure streams of learning would thus be caus
ed to flow ont from the colleges, and be diffused
among the masses of the people throughout the
State. Then we would not so often hear the com
plaint, that the child must unlearn at one school
what it has taken it months perhaps to learn at
another under an incompetent teacher.This plan is
intended to equalize as far as possible the poor with
the rich, by giving to as many of them as possible,
at the expense of tlie State, an opportunity to edu
cate their sons iu college, a privilege at present
confined almost exclusively to the rich ; as poor
mrtii have not means to educate their sons how
ever deserviug orpromising they may be.
Under tlie plan above proposed it is not intended
to make a donation, or absolute gift to the colle
ges of a single dollarx>f the bonds of the State. It
is intended only to deliver the bonds to the colleges
and to pay-to them the interest semi-annually, as a
compensation for them to maintain and educate
annually, one hundred and forty young men of
promise, who could in no other way enjoy the
advantages of a liberal education; who in turn
are to diffuse intelligence among the great body of
the people, thereby supplying the State with Geor
gia teachers well qualified to teach the youth of
Georgia; and who would be, at the same time, the
natural friends of her institutions, As a part of this
plan I also propose that a general Superintendent
of schools for the State, be appointed with a salary
sufficient io secure the best talent, whose duty it
shall be to collect valuable information upon the
subject, and report annually to the Executive, to
be laid before the Legislature. And to traverse the
State in every direction, visit the schools, address
the people, and do all in his power to create a live
ly interest on the subject of education.
Carry out this plan and who can estimate its
benefits to the State ? I regard the education of
the children of the State, as the grand object of
primary importance, which should, if necessary,
take precedence of all other questions of State poli
cy. For I apprehend it will be readily admitted
by every intelligent person, that the stability and
permanence of our republican institutions hangup-
on the intelligence and virtue of our people. No
monarch rules here ! And it is the pride ot our sys
tem of government that each citizen at the ballot
box possesses equal rights of sovereignty with every
other one. Thanks be to our Heavenly Father, the
popular voice cannot here be hushed in the si
lence of despotism, but the popular will dictates
the laws. May it thus ever remain ! How impor
tant it is, therefore, that the masses of the people
be educated, so each may be able to read and un
derstand for himself the Constitution and history of
his country, and to judge and decide for himself,
what are the true principles aud policy of bis gov
ernment. But how much more important it is, in
my opinion, th it eveiv person in the 8tatc be t na-
bled to read lYi him or herself the Holy Bible, and
to comprehend tho great principles of Christianity
in the eternal r 'utlis of which, I am a firm, though
humble believer. Educate the masses and incul
cate virtue ai 1 morality, and you lay broad and
deep, in the i "arts of our people, the only sure
foundations o Republican liberty and religious tol
eration ; the Inter of which is the brightest gem in
the constitution of our country.
By adopting the proposed line of poiicv we l.ave
it in our power, without increase of taxation or
burden to our people, to place Georgia, so far as
education is concerned, in the proudest position of
any State in the Union. Let her educate every son
and daughter within her limits, and she may then
justly boast that she is the Empire State of not only
the South: hut of the whole Union. By th is plan
the public debt would be reduced, and the school
fund increased, annually, §200,000; and the in
terest amounting yearly to §28,000 on the bonds
delivered to the Colleges would be paid semi-annu
ally, out of the net earnings of the State Road ; and
there would still be left an annual irfeome from
that source oi §72,000, to bo applied to other pur
poses.
REDUCTION OF TAXES.
The present annual expenses of the Government,
including tlie civil establishment, the interest on
the public debt, support of Asylums, Academy for
the blind. State Cadets in Military Institute, &c.,
amount to about §446.0(0, without including any
of the extraordinary appropriations. The present
annual incomes to the Treasury from the State tax,
the tax on bank stock, railroads, dividends on
bank stock, and from oLU’rf'miscellaneous sources,
such as a copy grams, testimonials, &c., amount
to about §446,000, exclusive of incomes from the
State Road. It follows therefore, after allowing
some §22,000 per annum of special appropriations,
outside of the actual expenses of the Government,
that tlie taxes might be reduced from the incomes
of tlie Road about §«i+,lflT0 per annum besides
establishing, and providing for the successful oper
ation of the proposed schoool system. Should the
Legislature, however, after providing for the re
duction of the public debt, the support of the school
system, and the education of teachers, make
any considerable appropriations, other than those
which may be absolutely necessary to support the
Government, no material reduction of the tares
could be made.
Iu the event the Legislature should disapprove
of the proposition to apply tlie net earnings of the
Road to the payment of the public debt and to the
education of the children of the State, I respectful
ly recommend that §150,000 per annum, instead of
about fifty thousand as above proposed, be applied
in reduction of the taxes of the people ; and that
the surplus be used tor such purposes of internal
improvement as v ill tend most to the development
ofthe resources of the State. I am aware there
arc those who object to and reduction of taxes, be
lieving it. necessary in order to attach the people
to the Government, to raise large sums of money
from them by taxation, to be appropriated in some
way by the Legislature. I take a diiferent view
of this subject, and believe that all unnecessary,
wasteful or extravagant appropriations should be
avoided ; and that no more taxes should be raised
than the necessities of the State require, under an
economical administration ofthe Government.
I cannot believe that the people’s love for the
government would be increased by high taxation.
VY’lien the people were paying increased taxes to
build the Western & Atlantic Railroad, they were
told, that if they would submit to this, the incomes
of the Road, when furnished, should be applied
in part at least in reduction of their taxes. I think
they have a reason to expect, and a right to de
mand, that these pledges shall be redeemed ; and
I respectfully urge upon you as their representa
tives the propriety of enacting such laws as will
give them the benefit of the incomes of the Road
as above suggested. This, in my judgment,
would be infinitely better than to squander the
funds in large appropriations of doubtful propriety.
If tlie road be faithfully and economically manag
ed, the net earnings, paid monthly into the Treas
ury, and applied to educating, the youth of the
State, the payment of the public, debt and the re
duction of the taxes of the people, it will then in
reality be, what it should be—a blessing to the
whole people of Georgia.
ATLANTIC & GULF RAILROAD.
I am informed that the work upon the Atlantic
& Gulf Railroad is progressing with reasonable
rapidity under the management of Dr. Janies P.
Screven, its able and active President. Earlv’ in
the year the necessary evidence was furnished to
me, that the individual stockholders liad paid in,
twenty per cent, upon §600,000 ofthe stock, which
entitled the Company, under the provisions of the
statute, to call for twenty per cent, upon the State’s
present subscription of §500.000. I accordingly,
in connection with Col. Watkins, our industrious
and faithful Secretary of State, issued and delivered
to tlie Company at par §100,000 of six per cent
State bonds, payable in New York, with coupons
attached. The bonds bear date 1st February,
1858, and have twenty years to run. The interest
is payable semi-annually. This road is intended
to develop the resources of a large and interesting
section of the State.
STATE AID TO RAILROADS.
Other sections of the State are still destitute of
the advantages of Railroad facilities. I am decid
edly of opinion that it would be good policy for
the State to lender her credit, to aid iu the con
struction of such Roads as may be necessary to de
velop her vast resources, provided she be made
perfectly secure beyond doubt against ultimate
loss. This could be done by the endorsement of
the bonds of the company, by the State, after a cer
tain proportion of the lioad is first completed, for
an amount sufficient to enable the company to pur
chase iron for the road. The bonds thus endorsed
should be made payable twenty years after date,
with six per oent, interest, payable semi-annually ;
and let the State take a mortgags upon the entire
Road, and all its appurtenances, declared by law to
be prior to all other liens; to be foreclosed, and
the road and it& appurtenances sold in sixty or
ninety days after the failure of tl',e company to pay
any installment of ^either interest or principal
when due. And in the event the whole Road and
its appurtenances, should fail under such mortgage
sale to bring a sum sufficient to pay the entire
j amount for which the State shall have become
liable, on account of the Company, let the law pro
vide that each solvent stockholder shall be liable to
the State, according to the number of the shares he
may own, for his proportion of the deficiency.—
1 las, in my judgment, would make tlie State se
cure, while it would enable each company eno-ag-
ea in the construction of a Road necessary to the
development of the resources of the State, to obtain
the money requisite to its completion, upon such
time and as would enable the company,
should the Roau prove as remunerative as its pro
jectors anticipated, to refund it ont of the future
net earnings ofthe Road. Of course such a iaw
should be a general one, alike applicable to all
Roads in any part of the State, in the benefits of
which, ali Roads now in progress of construction,
or to be hereafter projected, on equal and well de
fined terms, conditions and limitations, might, par
ticipate. Guard the State against possibility of
loss, and I am decidedly in favor of State aid, by
lending her credit in the construction of all such
Roads as may be necessary to the prosperity of her
people, and the development of her resources.
THE GEORGIA PENITENTIARY.
The report of Gen. Eli McConnell, Principal Keeper
of the Penitentiary, will inform yoo of the present con
dition oi that institution. The walls, Hadlv constructed
at first, have s.tood tor a lntic time, and are now nearly
ready to tumble down. The whole structure is in a di
lapidated condition, and w-ill require action on the part
of the Legislature at its present or some early session.
It is a question worthy of your attention whether it
should^ be rebuilt where it is, or be removed to some
more favorable location ; oi whether it should he en
tirely^ abolished, and some other mode of punishment
substituted in .its stead. As a place of reformation of
the convicts it is believed to have proved a failure. It
brings together an assemblage of the worst men in the
State, many of whom are beyound the hope of teforma-
tion. In the midst of such an assemblage lhe young of
fender has but little encouragement to reform. Obser
vation has shown us, that a considerable proportion of
those who have served the term of a sentence, have af-
terg ling out, very soon violated the law. and been sent
back for a second, and some even fot a third time. Some
of the States, as Alabama and Texas, have leased out
their Penitentiaries; and it is reported that this plan has
worked well in those States, and has releived them from
all burdens in maintainiing their prisons. I commend
the whole subject to the caretul consideration of the
Legislature.
THE STATE ASYLUMS.
For the condition and management of the State Luna
tic Asylum, the Acrademy for the Blind, aud the Asy
lum tor ihe Deaf and Dumb, I beg leave to refer you to
the respective reports of those entrusted with their man
agement. These asylums have already done much to
improve the condition and mitigate the sufferings of the
unfortunate persons who are D'eir respective insoles.
The State has been liberal in her appropriations lo found
and sustain them, and I trust that her liberality may
prove a permanent blessing to her people.
A recent visit lo the Academy for tne Blind in Ma
con, has sitisfied me, that those in charge of that Insti
tution are laboring faithfully for the instruction, and the
amelioration ot the condition of that unfortunate class
of our tellow beings, for whose benefit toe Academy
has been provided. The new building is being erected,
arid will, when completed, he a beautiful structure, well
adapted to tlie purpose for which it is intended. I am
informed by the Trustees that they have arranged the
plan of the building, aad shaped tlie contract with the
builders, so as to bring the expense of the whole, within
die appropriation, and that theie will be no rail ft r an ad
ditional appropriation, to save the btute from the loss
of the appropriation ilready made. Their conduct in
this particular deserves commendation.
GEORGIA MILITARY INSTITUTE.
For the condition and prospects of the Georgia
Military Institute at Marietta, i also refer you to
the report of the Trustees of that Institution. Ear
ly in the year I purchased for the 82>.te the remain
ing interest of tlie stockholders, and paid for it as
directed by the statute. Tlie whole is therefore
the property of the State. I attended the examin
ation of the classes at the latecommencement, and
take pleasure in saying that the young gentlemen
acquitted themseves with much credit, both to
themselves and the faculty.
WEIGHTS AND MEASURES.
A large number of the Counties of the State, es
pecially the new counties, have never been sup
plied with standard weights and measures, the
number originally purchased by the State proving
insufficient. Frequent applications are made to
the Executive by the destitute counties for a sup
ply, and there are none at his disposal. It will cost
a considerable sum to purchase the requisite num
ber. 1 recommend, therefore, that an appropria
tion be made sufficient to supply such of the coun
ties as are destitute of them, and to defray the ex
pense of their distribution.
SALARIES OF THE JUDGES.
At the last session an act was passed increasing
the salaries of the Judges of tire Supreme and Su
perior Courts ot this State ; but by some oversight
no appropriation was made to pay snch increase to
those who, under the Constitution were entitled to
it, the appropriations having been made for tlie
amounts only of those salaries as fixed by previous
laws One of the Judges of the Supreme Court
who was elected at the last session, and two or
three of the Judges of the Superior Comt. who
were elected in January last, hold tlic-ir commis
sions bearing date since the passage of the act, and
are, therefore, clearly entitled to the increased sala
ry. Six of the Judges of the Superior Court, most
of whom had, each, almost a full term to 3erve, re
signed their offices soon after the adjournment of
your last session, and having been re-appointed by
me, now hold commissions bearing date since
the passage of the act. They as well as those
elected since the passage of the act are, in my
opinion, clearly entitled to the increased salary ;
which has been withheld from them on account of
the appropriation not having been made. I there
fore recommend that an appropriation be made im
mediately, sufficient to pay each Judge whose
commission hears date since the passage of the act,
the balance of salary due him. In view of the sac
rifices made by them, the heavy responsibilities in
curred and the great amount of labor performed, I
am of opinion that no class of officers iu Georgia
have been so poorly paid as our Judges. I there
fore regard the act raising their salaries as wise
and jnst, and regret only, that the constitutional
prohibibition prevented, and still prevents, a por
tion of them from receiving its benefits. I think
equality in this case as well as in others, is equity.
There is no good reason why a Judge who was
elected soon after the passage of the act shonld re
ceive §2.500 per annum, for hie full term of four
years, while one whose commission boars date a.
few days previous to that time, and who probably
has a more laborious Circuit, should serve the same
term of four years for 1,800 per annum. Tak
ing this vi’i w of the question of justice and right
between them. I felt it rny duty to re-appoint any
one. who. having most of a term before him,
thought proper to resign and take his chance for
re-election in January next. I see nothing in their
course deserving censure, and Ido not hesitate to
take my part of the responsibility so for as the re-ap
pointments are concerned.
I have no sympathies in common with those who
vote away thousands, and ten of thousands of dol
lars, of the people’s money, in large appropriations,
often intended by the movers more for the ad
vancement ofindividual iuteiests than for tlie pub
lic good, and then attempt to raise a popular clam
or should the State do justice to her public officers,
by giving them a reasonable compensation for their
services, which is now, in many instances, much
less than their talents would command at other em
ployments. One appropriation of doubtful propri
ety, about which but little may be said, often draws
from the treasury more money, than all the increase
of salaries of all the public officers of the State. In
1841, w hen the salaries of our Judges were fixed at
§1.800 per annum, that amount of money would
purchase more property than 2,500 will purchase
now. A negro or ahorse might then be purchased
for but little, it any, over half as much as a similar
piece of property will command in market now.—
It follows, therefore, that our Judges and ether
public officers, arc not as well paid now as they
were then. Our great State is not too poor, nor
too parsimonious, to do justice to those, w ho ren
der iter important public services ; nor is it her pol
icy to drive her best talent from public positions to
make room for those, who will agree to occupy
them for less money.
SUBSCRIPTIONS TO LEGAL WORKS.
At your last session resolutions were passed, re
questing me to subscribe iu behalf of the State for
1500 copies of Hines’ Forms, at the price of §2 50
per copy ; and for 500 copies of Reese's Manual, at
a reasonable price to pay for them out of the. con
tingent fund. I subscribed for and received the
books, ,and paid Mr. Hines §1,000, and Mr. Reese
§500, one-third of the price agreed upon for the
500 copies of his book delivered at the Capitol.—
On account of the heavj drafts made upon the con
tingent fund, to pay other sums taxed upon it by
resolutions of the General Assembly, besides the
payment of the salary of the Reporter of the Deci
sioris ofthe Supreme Court,for which no appropri
ation was made, I found it impossible to pay the
whole amount due tor the books and to meet tho
ordinary demands for the payment of which the
fund is intended. The balance of §2,750 due Mr.
Hines, and §1,000 due Mr. Reese, remains unpaid.
I respectfully recommend that appropriations be
made tn. their behalf, for the respective sums due
them.
THE PENAL CODE.
I beg leave to call the attention of the General
Assembly to what I consider a defect in our penal