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gfcr SSIrtMs Krori(j>N.
RCtORT
Iff n. *,..<«♦-«• -t
lit UtitUhm m rtf frt/«< V
to ntartm to «m# J «■ «W* In f.«m-
4m M* »!•»»• I«V< hm* iMr Mil** if n ••
• MhMMOflooM.ll.WMlw}. •»■««> I-—-
tho Moptqr ud |*n«*«uy d iho ft-* Uwlf. '!’;•>
wiatW In Imm, ti !• a r-anil whkh •*»• *1»'»
I Mlkon d *hM. -f law dwaly
tairwtwlwJIarT^awnrr InlM.Jv.'nl.tt’fy.tf'm
h llaMa lo <ho .Iron, d^tika .if MM-to, lha
taiipHy of ll* f«id w foudfulilo (will, from <*"
• l lit* from encroachment* by l**8»«atUa
imKofMl&llfMi*. Silly, from Hunlnuil'di* l»y
»U from UA debts. In mdet W »just appreciation
effiho first Nn»l daaget, it It »*nljr n®«**ary to
n th® fact that nil th® nv*nl®d foml* at any
Uma la lbs Central Hank, nr rxpectrd in be there
ara always at the abt<dutedlsp**nl ofthe l«'**l*J f i*
tere.fifthieto be diverted, attbe mlU «fthat body,
from lhair niglealdestination m loans to thepeople,
tod te be subjected in ntlier ■ruiroprisifons, eilliur
for ordinary or sktranrdlnary object* nfevpendluira.
Tbay eon*» twin In fact, aomonli money in hand,
the temptation to raann bi which, enhnncnl
by Its vety aeeeteiblenots, and UuMmiivenlcnc® with
which ll may be used la nwetthe current exigencies
aflbaflirarramenl. There was nu yielding h"*-
ever to this tamptat nn nniil ihn anohm of 183.1.
Up to that time, rite fund which tie* Bank waarna.
bled »• employ in loan#, sofar from baring Ikmo di
minished by diversions tn other putter*®*. had pro*
fret slvely increased, until il reached, at the date uf
tha Director*'report for that year, the ainiiuiit nf
$1,222,04207. This progressive increase shows,
not only thatlhe fund had not then hern tombed
for the annual expense* of the State, but nlao, that
for the six urereding year*. there had been uniform
exoeasM ut revenue beyond the disbursement* of the
Treasury, For it wa* from the addition «f thrae an*
Huai excesses to the fund* previnn-ly po**ea«ed by
H»e Bank, that the progressive bursas# of lit meana
•fdUsMMtina resulted. Butin tlw year 1835, the
Stale, enable (laaifp tressed or nearly a mtUton end
• qsartarormoosy, for which It had no other use
than to accommodate tlw |«v»ple wMth l<*n», we*
Vd to diacard further reliance on tho general taaa*
lion of her chiton*, and to aurrandcr the whole of
ibe rerer.ua from that a*turee, tot ho respective Conn-
liar, In which it thould be ralrod From tbit d»y,
tlw annual fircal income* of the State have been In
adequate to her annual expenditure, and ihn ha*
been driven todubsirt by consumingevetyr vear.some
portion of her eapital previously Moumuiated nnd
lodged in the Central Bank.
Theconsequence* that followed were natural and
Inevitable. Tneineam in the Central Bsnk appllca-
blato loanr, which had theretofore Iwen increasing
by a rapid and uniform profraialon, Iwgan thenci*-
forth progressively to decline in amount. In the
frit year, (from November 1835, to November,
1136,) they aunk from $ 1.922,047. d .wn to $1,192,-
047. In anothertear, 1837,(aft< r deducting $ 1,051 ,-
422 09, United States deporit of sunOus revenue,
and $230,000 horowed by the Bank to carry out the
distribution* of that y«ar,)they were reduced to $ I,-
td of the
022,034. And by the end n
i* third year, 1838,
(after deducting again the af uainid U< hod Stater
depe«it,)they were reduced nr low as $908,199, with-
out taking Inin the account the rum ol $25,000 l*or-
rawed during that year, under an act uf the L-gU-
lature, in order to meet tlw demandt upon the Tran-
•ury, and which bofog taken into the ac -ount,demon-
atrau-r that the joint eflectof the rurtondcr of taxer,
ami of ih«anctoxdimfn rofa|i|iri'pnaiion»,hn» Iwcn
in three yaarr, to radnoe the eUnr eararua>ber«d
mettitd capilnl of the Stott, fa Ikt Control Honk,
applicable to loam, from $1,222,100. at which it
atari in November, 1035, to $475,100, at which it
atood in November, 1838.
It it true, that till* rapid diminution U mainly
due to tlw noble part which Ocerain. nr a »lute, hnr
taken to herrelt in the exectithm of >h'ttnnxnifti uiit
and Invaluable ryitom of Internnl lnt|ir»vcmont,
which contemplate*, and will rro long raulixn it
thorough commercial connection betwruu tlm wa
ters of {he Tenner**.', and her own navigable water*
both interior and mAriliitie. But it ia alto true that
tba whole of the diminution itbynunnanr clturgo-
ahletu Util account. On tlm cuutraty, no mean
fraction of it liaa proceeded from th*?dnaufF>oiency of
thaannttal revenue, (rlnco the aforementioned iur-
render of all thageneral tare*,) to mrat the y tatly
atpenrer of the Slate, disconnected with that work,
la that even if that great enterptUe had newt been
••poueed by the Stair, bvr monied wealth In thn
Central Bank wee neverthelcir alteady dimmed to
•attain, though rlowsr absorption, by the Heeling
a*d leer worthy ohjanta of avery day exiHtiriituru.
For the lund fund wa* drawing near to tlm perimi
•f its Anal exhaustion, a* a tonree nf incomcl taxit*
lion, ai already notided, had been furmally discar
ded by law, consequently, an era war at hand, in
which the whole rellaiwv for fresh receipts of tevo-
nue would be thrown on the profits nt'idn by Die
XJerral Bank, nnd the dividends on the Bank stock
owned by tba State, which together, averaged hut
$131,01/2 51, for the ten years ending November,
1636, and could not be aspected to {iroduce, at the
utmost, more that $200,000 jter annum, even after
tbemlditfoeefthe United States de|Mtbito thefunds
•ftba Bank in 1837 bad nearly doubled iu means of
bonnets, and of making p ofiu. Whereas the ex
pansea of the State in 1838, of a permanent and or
dinary character, includingih'wecoiini'c'ed w.th thn
auldect uf education, amounted to $228,208 37.
and were of » nature to be ennsfdarabiy augmented
ky ine gradual enlargement of our population, and
the coniw(ucnt incniaso of the espouse of sontoof
tha branches of Government. Whilst an augnten-
tatlon urannua|ex|N>uditure would llienbegulngnn,
•very ywr would subtract something from the capi
tal af the Central Bunk, and thereby cause a dimin
ution of tlm future revenue bum that source. These
facts all go conclusively, therefore, to show that so
far from tba system nf the Central Bauk having any
merit on the ground of Its tendency to preset vn and
Mipetuato the surplus monied fund c infilled to lit
ter the purpose of lending u> the pwpV, that sys
tem, on the contrary, had been in operation but a
vaiy few years, kel'oto it gave rise to a policy, that
la the ouursaofaomo down or fifteen vents more,
would have caused the whole fund previously ac.
cumulated, to have vanished iu the ordinary annual
disbursements of the Traasury. Fortunulo, indeed
wm it for the lasting grandeur nnd prosperity of
Georgia, that so soon after this process of petty
evanescence commenced, the cteat project »f llm
Western and AtUutlo Hiiilroadinlcrvumritu claim
anil secure M a noble work nf p-rmnnent public
utdity, a Urge proportion of« fund destined uthvv
wise to have been lets worthily spent.
Of tlm second great causo which expose* tlio
. public moneyomploted by llinContrul Bank toitiso.
curity and dtmlouiiun, namely, the dnager uf I.im.
rs an dog from bad sod irrecoverable debts, nothing
that it stall precise or satisfactory can be sstd. For
h<tw It itposaibfe for tlm tncinlior* uf Die Finance
Commission, ortho officer* oft ho Bank, or any oth.
«r person or persons to whom such an enquiry should
bo referred, to Mvotonooe, with even a mlcrsble ap
proach to certainty, an the goodness and collecta
bility of $1,817,199 30o.u of aec.amm.HltiUuti note*
in small aums, dischaigeable in five years, end by
five equal payments, from rim datoof the otlgiual
discount, Ute makers and endorsers of which, atx
dispersed over the whole State, «inl of whoso dim
%suv sari eoodition ia the twain, nothing esu be
known, except, what can bo glound from tho tax
bo-iks and rei’ords of their rwtpeodue couuties. The
meeas of judging possessed by Die Director* of the
Bank en this bead oo tho 5th NorctnWr 1338,
brought them to the coocluibm, that only $l,G|3 88
of tbedivcoooted paper thoa hold.oug.u then to Ihi
set down as bad and lust debts. Whether thn Suio
be* boee thus fortunate et a m *ney (coder, or to
what extent she has been unfm tuna c, can never bo
' d tsnmoad with any prasHon, until tho chaif shall
be sifted from the whssat, end the go.nl grain goth
erad into the garner, upon the final winding up of
Urn institution, end the collodion of b* available as
sets. For (be present, the reflection cannot bo re
pressed, that if tt shall turn out, that, in a busitiosa
running through ten years, amoun/ing iu tlm aggn*.
gate U$11,975,985.73 of discount*, thognut m»>»
of which was up-n eccommo.lat>on |wper of five
. yenrstime, a lossofoo more than $l.t>19 88 -hall
besustaioed by rei-oaofbaldebu, it must forevor,
. be regarded «« so-nothing quite mir-tcuhu* in tlso
annals of money lending. Tint no such tutr-tclr,
however, is destined tube recorded, is stitsoglvin
dicated by the fact, that nf tin $1,317,133 QQufdU-
• Minted notea held 1nr the Bank on Dm 5th Novem
ber, 1338, the sum of $482 863, was then lying over, i .. .. .
dishonored, sod $70,215 23 was in suit. Ami of wttabind
$134,421 61 of Bills of Exchange discounted and ViC *'
bdd!.y tlw Bank, there •'*« at the same data, $ 112 ,-
239 27 lying dishonored, and $12,432 31 in suit.
This hum pm-Ktrii in ofdisboooivd paper U indeed
^»pattieg, and augur* n h-avy ultimate ins* to tlm
5u»e.—Under •<tc!i cireomstances, il ia conanlatory
UaUog mil* ivtias hod out ax die date of the an-
SiW-SPi ,ll *"* | y >1“ trMro, wm of
- $MI9 98 wi|) bwoartainly tost.
I-* Ueu wd okwwmtau which haw no. bron
»l«o»w„ Georgio boeorn.
of pohlio ,hlch
(*** property in
J whai warn the Uai freiu^f that
mode of investtrosift bow tram after it was ran led
•pin Die maximum at tsldrh It uBI ramalax, « »e.
rood surp'iK ri a considerable amount rapidly
grow npintb'Tn-a.uryt In what mannertW it stem
«tf the present Central Bank sprang *wt of ibis lat-
let surplus, and rail uf tite »•» j*eci»l4on, aftet wards
na:ir<-d, tsf islmr sut|d'issw* to eotnej and what
have been the winking* wild effects of that system,
in rnlerenrti to tlm Utrae great objects of financial
profit, general comm* trial utility, and thn safety
stri ptr mm ration nf Urn fund Itself committed to
•be management uf tlm Bankj and futilier—Die de
ments id 1 thn said system, In its beating tm all
three of these objects, have been demonstrated to
bo of aoeh • nsttire es drcidrflly to rmiulr* the dis
continuance of It, even tm tlm supprattion that the
present ami ptospectivn condition of the finsnries,
furuislie.lnlwtis on which it might still xtattd and
•n* kept in iqienitiott. ,
But it furniilies no *tirii basis# Th« whole soft-
tluUnm of /net, on which the Bank was, imho
fiisi in*tanrc founded, and on which alone it has
Iwvn at nny time, intended t«re«t, ha* liesm swept
from under h by that cour*« of nvonts whh-hltns
di*nble.l tho Slate lo be any longer n distributor uf
surplus in ncy, in loans among tho people. For
the Hunk was created solely bcciiuso them wus a
surplus that might be used In that way, and the
great fitiir.tiiin assigned toil wits, that nf n more
loeo-oflice, t»* emplny the money, constituting Dmt
•ur|diis nt interest, w tit n* equable n diffusion ns
possijile among thcciiium* of the sever I coiliitic*,
and under n strict limus'ion, »n» to exceed in tho
s'Boont uf its liMtns, thn amount of n.-tn il money of
whic.lt it should lie placed iu possea-bni. Nor is
tM* luttimiion ntnlle-m'rav.oiud by the allow race
given to it to Ison? it* U'Vli hill*. inn«intich ns ulong
I with that allow nee, therei* an expr- ** rentibemeni
that ft ahull, in ra*« nf i««iiilins s .ta*-lf of Dial privi
b-ge, always main nit blind ntlor money eounlin
amount tu t|u* wholeof it* own note* in eircuf itioft.
By this resifiction, tlie Bunk I* constituted iu effect,
n lender of capitnl merely, us coinrerllsiinguisli-tl
from ersdit, and is cumtulled to cease enlitely
from the busin-s* of louoine, the moment it no
longer has, in the form of money, a surplus n"t
■ vssi-4 (■>, iliri||.lnt«,»ni-iio *f CSwwswnmento
Well, a period lias arrived when it no longur p"*
•eases, «if ha* the {•r«*pect of (Ktssessing, nny such
surplus. A* rnpmly, and even more rapidly, than
its meant l.ereiofiire distributed In ionn*,cnn lie re-
alixed by eollecDon*, they nrn imp« riiliv<dy wanted
for the r-aigenciasofthe Government, The treasu
ry now, iu-tend of being as former’y npprea«ed
with n financial plethora, is moneyless, nnd com
pelled often to knock at tie* dour of the Bunk,
w ithout being able to obtain > Itlicf •helsrgsums or
Die pittances, which ll socks to relieve it* fiscal nr-
cesslties.
llndsii'h been the rondhion of the finances In
1028, the Idea of crontlna un Institution of the
character of the Central Bank, con'd not have
found entertainment in tin* wildest imagination
The very suggestion would have struck all minds a*
the offspring of fatuity itself. To have yielded to
it, would have hron with elaborate folly, to erect it
l-an-oflire, without hnvlnn, or hoping to hope to
haieaiigh- to lend. Hot lliui very i d eof things,
which, h id it then existed, would huvo rendered the
oslAldishmrnt >f thn IJvnk n causelesannd nh*urd
msasure, lias now taken place with every nppear-
unco of perm tnence, nnd having so taken pin a,
renders ilia p.dicy of keeping up that Institution,
equally cans .lest and ubsitcd. ThuVholo ground
work mi whirl) it wn* huili litis lirun supped nnd
tnk'-n away within tho Inst tli.-ve years; tho only
function fur w hich it wus ever doomed of nny woitli,
has coast'd—ha* become practically dead from the
failure of ii* proper pabulum} it eon no fangtr
command nny money to lend It it in, Dioiofor*. iu
{mint nf fact, renchod the full end and term nf tm-
mg wliinli h 'longntl in iu niitutv, however U may
rutainauunilnul exi-tonce, in print of law,audit
ha* thus lioeoiiie a inure pi ofuinss and cns ly excre
scence on nar finnnciul system, and no reason ran
be assigned tu justify its retomion there, or turehut
tho strong arguments by winch, « tcgnnl t » econo
my, and Dio necessity uf sp-otlily tenlixing, and
dilietenily applying tho resource* uf tin- .Suite,de
mand its exutsinn.
In ihn ml 1st of such fiiiaucml difficult lot us have
recently liesrtiho State, ami which -oem* in hover
also over our future oar er, difficulttos ue>si inop.
porlune in the era on which they have fallen—uni
era characicritctl by a mighty nail eonseiiliitiruus
effort on thopurt nf oar iroople and fiuvoriiineiit, to
pluon Georgia on that glmimis vantage groand of
Commercial and I’olitlcnl greatness, to which her
geographical rmsltiiinniido ipahililii-* demonstrably
destine hot, it shn lie but true to lies self— n prnpn-
■Ulonfor winding up nn institution, wbiclt Insla-en,
for mum than ten yours, the gicut tl pusitory nod
manager'if h«r fiso dwanUlt.excuasa ro«*t interest-
lug enqulryt—Namely, w lmt is the State worth, in a
Strict lilnt'ichil leaser
A satisfactory answer to till* enqttiiy. enn only
he modehy stating and arravutg against .each other
*11 tho nftitting nxsrt* A liabilities of the Siam—an
attempt to do which, linscd apniitlindnln enniahied
in an Informal staiemem furnished hy tlu IVnstdoni
of the Central Bank to lid* Cmnniissinii, showing
the condition of that Institution on the lOtlt uf Oc
tober last, nnd npuu *nc)i other tlnio n- coiihl he ob-
mined, nnd were Npidienldeto the sulijrcl, will ho
round in a silhs-quent pmt of this report. At pro-
l Bank Stock*}
sent we will inuk in(o tho Fro-idcnt’a statement,
simply with a view to aseeitainiut tlm mmuint <>f
sound means available, f»r the fiscal wn»ts uf Dm
State, existing in the Bank on that day.
By the statement it appear*,that on tho t(ItIt day
of Ocuiborlnst the whole amount of stuck*, debts,
and eaili assets in the Central Bank, constituting it*
Capilnl Sun k, uinouiited to tit 1 sum of $1,541,300
29t—fr-mi this nggn'cate tlm mud $198,194 53 is
liable tu bo d duct'd on ncconnt wf uummlnble
stocks iiml bad debts. Tho ttaaviti’n’de stock, is
that nf tlio Brunswick Bail Bond nnd Canal Com
pany $;>0,()tj0 00
Tlio laid debts, falling tituler Die
bead uf Bond* ami Notes tece'ivcd
from the State, amounted, on tlm 5th
November, 10J8, according to tho re
port of the Committee of Invosiiga-
Don, to th>< sum nf 148,230 55
By the same icnurt.tbe bad debts, un
der the head of Notes and Bills Dis
counted, nmmmted to ............. 1,810 98
Bad debts, Under the head ol Noti-son
•he Bank of Mncon, amounted to ....... 294 (10
Making tlio unavailable snicks and
bad debts amount to ........ $198,194 53
Which being deducted from tin* nggrojiitn capital
stock of the Bank, to wit, the above •lnl« , il sum nf
$1,511.3011 29. leaves tlm sum of $1,353,105 7(1,
ns the sound ami ipital owned by tlm
the State, nnd oxi ting in the Central Bank, on Die
10th of October hi«t|uf which $1,0115,000 c-msisis
of tlm Stain's shares oi stock in Die Bank of A»t>
rusib, t!ie I'lnmers' Bank of Savannah, Dm Bank
of the Sintonf Go. rgia, find llm Batik uf Ditrieti,
wliieb. if il'xiuetcil, shows that the State post.'ssi il
on tInn day, only a capital of 348,105 76, Imsitles
iter Bauk Slacks.- But if we Ueat the United State*
sureltl* revemm d. po.iteil with Georgia, ntnouming
to $1,051,422 09, a* means available, for our pre
sent and proqa>ciive Use'll t*x guticDs, viuy nendi in
tlm same manner u« if it wn* tho capital of the
B{Xt«-| (Hud there momuv tw-lwr nn ir>w«un why it
alio'tbl uot be ro regarded,) and mid tu it tlm lust
ktaicd sunt, it show s $1,399,527 85 n« the aggre
gate of Dm available means Imld by tlm State in Dio
Central Bank, indv|H'nilently of Imr ifoit>nicniiom‘d
Back Stocks, amounting to $1,905,000,
Auditors* ne nro at the end of all the fiscal
•noire* which tbo State poaseued under existing
law* and litci*. one., nt those which aro to ha sought
f»r jn tho pocket* ol Imr citiseus.
For as tberehasa'ready been occasion* to ro.naik,
taxation and tlm land fund, which were, up to a re
cant date, tlw most p.xriuvtivc branches of rvwmm,
have esasad to l»e o|Mnutivp; the former having hevn
out off and dU«inat«ri among the counties by I.v-
gisU'ivnacl, with tho exception ol the tax on bauk
atock, and uno or two worthless it> nis beside-;
whiUt the Uttwr is lo*t and gone, irrx'cover.rbly, by
tnoiv uxlmustion.
Under the-e eircumstaneev, the whole weight uf
every department of public expenditure, ht« iwcet-
•arily fallen on the only remaining yotounn—
the meant in the Central Bank.
Such being tbo fuel, it i< of no groat moment to
enquire tu wlmt -{rectal objects, certain {Mrtions of
these fund* have been *«t npmt hy laws lountl.-ti on
a by-gone state of things, but whiclt have sunk into
a dead letter under the heavy piussute of present
contending wants. . Nevertheless, a retrospect of
hi* kind may not lieunn»efahowqrdrMen«loping tho
ic*-s ol‘ our financial ir.nnag.-nmnt f-u th« last few
years, nnd towards pi icing in a clear ligh-, Dm na
ture of the financial difficulties in which tho State
is nuw involved, together with the immedieto causes
from which they have sprung, and the proper oiraas
of extrication.
As far back then at the year 1821, the policy of
permanently appropriating particular luudt to do-
signaled objects began.
In that year a law waa posted sotting apart the
dividends on half a million of bank stock, own<*d
by the State, to tb« cause of public education; aud
the dividends on another half million, to purposes of
Internal Improvement. And so the letter of the
Is* stand* to ibis day. N« o»h* r permanent ifoalf*
nmlm nfparilralsr fond* tn peitMer ebjeet*
took place ''III 1837, wlien It was enoruri
that nn*» third #if the Interest atUmg from the
United H'aies surplus tvveneetl«p«>*ite'l with Geor
gia, should go into tlm IMtmation Food. And sub-
seqinmily, in 1638, on the j»**Mg* uf a law for Imr-
rowl*.g a million and • hall of •I dlai*, for ibo con-
»tru«-• ion of the Western and AtUntle Bail Hnad,
a provision waainroDiri in lb*t law, selling apart
for the (■•) ment of lit* Interest on Dm nmrm) so to
Im Iroffoweil, ell Uie Income*, prufiis and disidend*
ac* rum< from the i>enk sto- li end i-ther fund* of
•)*o Bute in Die Central Bank, such purDon* Divre-
of excetded, e* were elroedy pl''dgvd lo the object
of I'uUlia Friorotian. And, hy tlm same law, it
wa« furtlmr provided, that until am h time as money
enukl Im raised hy loan a* authorised, the Commis
sioners of tlm Hail Bond should Im rqqdied from
the Central Bank with tlm funds nece-sary for ibe
prosecution of Dm work. The effort* to raise
rn<mnyhy l»an ini'ler this law, remlted in failure,
except to a limited ex'ent. Of courso the bank
iMS'ime linhVto furnish* largo p-ri of tho money
wanted during the year for disbursement on lb«
i abroad.
Upon mmpaiing the amount which, in this po*<
tttra * f things Iwcume inevitably demandable 'hiring
Die year from tint Bank, with tho amount winch Ii
It'd auv likelvhoorl of mulixc, hy roller.tions ami
other moans.from thn n sourco* in its possession, it
is manifest that tho appro; rintion* ulwve mentioned
in In-half of Kdncaiiun and Internal Improvements,
wore more thnnnniiugh to overtask and exhaust thn
ahdhi'M of the In-thution.
Thu*, noilt nr would Im I* ft for oilier object*.
Bin «nhi*r object* formed a large, iirfp -nsiive nnd
indl*;M-n-aldo lininch of annual ex|H*nditura. For
th« se other ohjerts wore none other than the nee*-*-
»>ry xiqquirt of <4 ivcrnmuirt, and various Itemx
t herewith mnnertal; nil of which, together, required
io the year 1338 tlio disbursement of $188,795 53,
nnd could not ho exp* r.t> cl to call lor it less sum in
tin year 1839. I low w re these expenditures to Ik*
provided tor I T he answer is, that no oth r provi
sion wa- itcifiully mad.- f«r them than hy voting the
needful npi.rfqirintiotia in the accustomed general
form, which appropriation* being Dm* made, weia
left to shift fin Dn*msoivps, and to take tho clianro
of extorting, hy the greater imperiousness of their
nnitiru, payment out nf the only resources (tho-n in
the Central Bank.) which 'Ho State pos*ossed,ro
sou'ces already overcharged, bysp-cilie pi dges, in
iK'haif nf oth' r objocts. Tlm consequences wore
Inevitable.
The specific pledge* were compelled to give way
lief re the strong uco«««Uy wltitiii claimed, for tho
support of (invoniment, tile funds nu which those
pli'dge* Imd h en laid.
Thu*, thn IMucnti <n Fund has linen subjected lo
thn loss of it* Itmgmiisoi'nned due*—lenders to the
public to n delay of their sttpulntwi repnymuntt, uml
llm cnnira unrs nil the p'tlibc work to thv indefinite
poslpniiement of large nu lances of thoirjnsi rnmune
rnti'in. I'u- hlmrmi. toils.
This result is lint tlm first instnuce nf what must
annually recur, with ag'.-r.ivutimi, »» long a- our fi
nances urn conduced on tlio principle of saddling
an insufficient mu** of fund* in llm Cumrul Bank,
with tjio iieciiuml.il.d load id'till 'll- brunches ol
public exiMiidilum/ .Such a rrinriplo.it I* trim.ran-
nut l ixi bmg; lor rqiidly eating nut Dm r-iy luud
mnvhich alonn it cun su sist.ituct* us tlio voracioti*
agent of iu own ceituin and apwdy 'laxtlt. But
whilst it d os Inst, an.I so Intig as uny portbm ofthe
funtl on which it lives remains, it works a praciic.il
oliliterarion of all designaii>ms made by luw of pur-
licubir liiti'ls lo pari iciilir object*. For every cla*g
of n proptlmlnti* i as, at iu«t, thn strong claim nf
law on i's side; and rim cnnernl appropriation* lor
llm siippoit of government must necessarily nttnrii
mi Die binds io tho Central Bank so long u< there
is no Other resource to wbiclt limy can look 5 and
iiitnchini* there, limy must Im satisfied from tle m,
oven though il ho lo Dm exclusion, io wdi-da nr in
part,of o tter lus- urgent want* tu which lh"8u funds
Imvo been xpnrifirully narigoud. Tlmiufbro until a
mighty cliiiiigi- is wrought in our financial policy,
stih-iitM iiig order f.<r chaos, and ample timaim iu
tho place'll poveityo' rnsourcs, it Is vain tii'i liitilo
to suppose unit in point of practic'd npor ition, we
have uny fund -retired to tho grout objects ol Kdu-
Cation ami Internnl Improvement,how murii soqver,
oDmrwiso, the muUer may nppear on Dm stututo
ho»k. A* Dili g* st itid, tlm only light in which Dm
stubborn fact* of Dm r-utn p' lniil us to regard Dm
mass tif public we Dili lodged in tlm Central Bank,
is a* w luud turn Ivy tlm uvccssltius of the fisc f. om
tint pormniionl olijects to wiiich it Its* been devoied
by law, ami turned into an tmiversul. though iostilH-
einni resort on which ©very c!a*s of approp inti "ns
is iiiiliscrimiiial>'ly thrown. In llm •• l le .h-priqmi-
tinn tint* produced between its nmmul abilities and
liiifdliiies, wn liehold the immediatn cau-o of thut
liminrial omli.irf.i*smcnt and bankruptcy which have
h' lhlloojhe Stite.
What measures slmll he adopted by wlfrh this
most discred table mul ruinous posttitv ofottr affair-
uny lie at once put in n course of reelificit!ion. nnd
(m prevent'd from w;ui«\ («*.c.mriug, uud hy which
tlm State slt dl Im nliced iu po-ses-ioii of nmuriH
sulficieot not otilv for tlm disrliiMgc of piesrui
pinning debt- and theonlilliuy expenses of govern
ment, bui ample also for sustaining, as in tbo pre
sent ttgtt they ought tn Iw susndacd. the gr»-nt im®-
resi* of |Mildin<-dacation and internal improvement,
is tlm vi'allv imp riant manor which Dm last Log is-
la ure Imd in view in iasiittiDug tlm cimmis-ion,
tho iexit.l <>f whose labors is umv *uhmit'e<l; u iti.it-
t"r of which the present General As cuddy cannot
deem otlmtwi-r that, ns having acquired an ung-
tneiit' il tnagiiiitKli'. and n more inumsing orgetu-y
from the events of Df current year, ir- m tlw actual
slate of things ntiliis timment, nml from the nniure
•f tlm prosp'-cts which, in consequence nf that state
if thing-, impend over the future cine, r oft lie State:
and it is tlwvefnrw & matter un which the under-
I si;tied will seek to hen ow, in the st-iittnl ni'lhi-re
port, the lie-t considernthin of which tit' y ute capo-
' iilo.
Tlm stage of their inve-tication*, however, nt
which they have now arrived seams opportune for
pausing awhile, in order to smvuy ami develop®
•me of tin* liin.bimoaial priaciples on which n per-
'incut lyttcm of linaoca for the Slate should lie
has il. All the expna-rs uf whatsoever kind to
whiclt government* uro liable, lull under two gieat
Iwad-t
1. Such a- are ordinary, permanent mul ever re
curring wilt gicut cqunMouess, from your to your,
Diruaglmtil long and coutiumiii* noriods of time.—-
To (Ins class belong all expendituru* incident to
tlm maintenance of government,tlm making and the
adntiidstv.iliwtt »»t laws, uud tho support of nil in
stitutions Hill tlm advancement of nil object* which
form a part of Die permanent poll-) of a country,
nail ol which llm support nml advancement create
a continual drain of tnnticy from the Treasury.
2. Those which lire in their nature exiruerdinnry,
occasional and temporary, falling with great Weight
on putiiculur and brief periods of time, and then
leradimting forever. Of this kind uro 'he ex|mndi-
tm us growing out of a slate of war, and out of the
orei'llmt of gient nnd costly public work* of an en
during character, such as fortresses, canal*, rail
way*, «Stc.
These uvo «li.'i-ioii* ubvioit-ly embrace oil the
urigitiul und *rii tuntivo o.nist'» of expense Dial cun
uceqr to » government. Bat out of tlm nec- s-iDo*
to which tle y I'reqacnDy givo rise, th ro is sonic-
lima* bwtuu third kind, entirely derivative m it*
chnracei, und partaking of the nature of both the
other-. Of tlii* *orl i« a large public debt, of
wh'rit the in'err *t i* -tipalnted to bo paid at regular
and!*bnrt inictv.is, and the principal at a remote
Period. The paymenu of the interest nn such
do't lire appropriately classed in Dm first of tlm
Homo state I g "oral ilivi- on*; aa.l the uhim\te tw-
detnpdoa of tlm capital, in the s-cond. Well,
Georgia has actually contracted a debt of this de-
script >oa to Dm amount of three quarters of u mil
lion, borrowed upon her buud*. of which tb.
rest is payable every »ix uwwlw wad the principal
nt the end of every thirty year*; and her bunds lor
another equal amount have already Imc . i-Micil.Hud
only uw.dt u market to raise Die ilohr io u miomi
and u halfuf dollar*. Morcovn, Georgia ha* f.i
wear twenty years made tho patronage of youthful
education an annual charge on the Ttva-urv. It
lias liecome and will forever continue a pa t of her
settled pujicy and a permanent branch «n fi*enl ex.
pendit'ire. i kennitunry support of government is
ri course to bi'act down a* a pi'nnanont expense,
requiring antiUil and |;er|Mtual supplies.
We have then, clearly, Diroo bram-het of expendi
ture, namely, tkc interest oh tie public debt, the
patronage of ynHt\t'nl Education and tie ordiu t-
'ry support of Government, which fall within the
first uf iho above stated general iltvi-iant, and from
demand* on the'fteesuiy, «*f a permanent, iimlbim
and regular character, and which tlierofnro require
that th-i Treasury should have supplies equally'per
manently uniform ami regular. In ragnrd then, to
making provision for these thrae brandies nf ex
penditure, the course which financial wisdom incul
cate* i* p| Dn. It it that Government should pro
vide for tkem by a sytumof revenue *kitk shall
vitk certainty and permanency bring into tke
Treasury an annual iucome equal to tk'ir aggre
gate amount. Not only it this cnur*e pointed out
by mere financial wisdom—it is commanded by «
stern fmwcixl necessity. For there are but two
dress open lo the iqd.'lmi of Govern meat,
Uksf *Wkh •reloihe.ras'a'abwUenqewsTjt.and
most evetiioslly and im • it tidy end in Dial above
titled. TIm first of Ilw*e is only applicable to the
care of a Government iIrh lull* jaissetsloa of large
fiscal wealth already acqu fed. fb» rlreu»»»*taae**l,
it may for a Dma bkn an opulent iO'lividual •ulr-itt
on its capital tei’koul boring any interne. Bui
unlike tlw tndlv-dod.it* life i* almost sura tomnla*t,
and Its necessities tu ith#u»t that capital, ho never
large, which is dtdy connirnlng It I-*' this point,
that Dm other el.rrnntite, ibat of borrowing fafd-
talon which to enlsif, present* it«* If. But, Gov-
ernmema as w« B a* indiridnsU will «wm ertre to
be ahln to burrow, if they tH'xbct to provide the
mean* of paying with punctuality both Interest ami
p(irrr-tj.nl, a* Dtey r 'sp'-ciivcly luco 1 •• 'I'M. S-i Dint,
in the raae of • Government so profligate, if *urh a
ca*c could Im siijq»o#- «l, a* to borrow whtionl ex
erting itself, that i*, w 'b ait roit ng retenuc in or-
•h r tn |niv,—>upon thn consumption of tlw arwaint
of the fir-t loan, sll shift* und exp- d'n-nt* would In
al attend, no alternation would remHi.t-hut tojierish
fur luck of *upplirt, «ir to iditain the ncceisa>y ali
ment by lira wing on tbo tasalde reiouice* of the
«'.«untry But if them Itc g-md faith, andan honest
intention to fulfil its ubligiitioii*, this alternative
comes sooner—comes at Die beginning »f Du- l--nn,
and ma\»* it itr|ierative to raise anunal reventm
lulfinirnt not only for its erdinnry support und mis-
ce.laneuut ex|ien»e», hut also fur the periodical
p'lVtiient of interest, nail tin- ultima.e reilemption
of tbeenpitai «f ns debts; whch last 'dijeci is to
Ini effected by raising annually r-venue emiiigli to
•l-frav all rite currant charge- of . very kin I full ng
on tho year, and to leave beside* such a »nrp)u« n<
will, by gradual Hccomiilation li.on year to year,
create at ImigDl a fund snfftcieu' to meet tho princi
pal of the debt at maturity
In accordance with those principles, the perma
nent scheme uf raising revenue which will, in the
sequel, ho prc-cnind, i* framed with a view of nb-
turning, by InxAtinii ntni the profits nu Bank -lock*
owned by tits* State, smiu D ite'oine u<leqoau-t 1-t,
To the onliiiury support id’ Governin'm; 2d, To
the maiiitvnnut of Dm sy-icm of I'obiic Kilucniion;
3d, To ill" periodical payments of Dm interest nn
Die public di'luj and 4Di, To the leaving nn annual
su>fdu«, uf er nil tbeso objcr.'s are satisfied, which
shall, by constant accretion, become sulficient to
pay the principal of llm public debt at Die time
when it shall lie Knully due.
In Dm second grand division of public expendi
ture*, namely, those which nro extraordinary, oc
casional and temporary, and which shall fall with
great weight in pa-ticulnr short periods, and then
termtiinie forever—no other enterprise or business
iu wit ch th— StHte j* engaged.can claim to be class
ed except Dm great system of Hail Knad improve
ment now in pt ogrc-K, tor tlio connection nf out At
lantic coa-t and rivets with the Tennessee Klver.
and, through it. with the vn*t and productive re
gions drained by tho Mississippi. TbeState.gov
erned hy nn enlightened uud comprehensive view of
the great intero-t* of hnr people, and of the admira
ble advantages which by reason nf bar geographical
position, she possessos for advancing those interests
to tlio highest point, hu* stepped forward and ta
ken upon herself tho execution of Dint portion of
this sy-tuin which is common utility to nil other
imris, und tu almost every part nf tier territory.
From the moment nf Iter esnousul of Dm great en
terprise, she has devoted Imrsalf to its completion
with a spirit nnd energy worthy of its grandeur of
design, and of tbo honor nnd blessings whb li it i*
destined lo bring to her DtroNsh all coming timo.
To the present gi'ittsrntion will belong the glory «f
or giiiiiiing and accomplishing, within u few years,
the magnificent woik— n glor> which her succes
sor* will cotnieniplnto with ever-admiring gain, lint
can never hope to excel or equal—for neither her
own natural citpahiittmi, nor those of nny section of
oor wide spread Union, |iros<'iit a practicable thea
tre for any similar wotk titat could riaimcomparisoa
wit'iit—in felji'iiy ol posni-'ti, extent ol connec
tions, case nml cheapnoi* of oxoninimi. uud the
vahtnessnnd variety nf its ugrtctil'iiral, cumnmrciul
and political usefulness.
It would be io harsh discord with reason, with
justice, with eu'iu principle of sound i obey which
Inis over characterized enlightened coinuiMMiic*, to
hold thut the Cost nf this greut work, which is to
descend n«n rich nnd enrol lug inheriaurr to nil.
future Dnies, might to hel'vlcd hy tnx'ition, on the
iicnji'n of Dio day of its exeenton and within the
brief Rjum tif ^'ear* employed iu Us t'xvcuvlou. Such
n principle, il r cognixi-d by G.ivtviimetils, woo'd
dntcr mankind from all great and costly wmks,
however useful or important; it would effectually
dose tlm dour uguuist nil valuahle and |mrmanent
Internal Improvements, nml doom tie* country to
Inngnirii under the perpetual want of nil channels
of cotniniin'rolioM between distant pans, nxcpi
those which nature gave,or private . nterpiise might
Imi simnd -teil iii supply. 11 the same principle lie
cniried out to it* legitimate couseqiMices, it would
end iu thu monstrous c .tiehtso.li, flint a free |ieo-
j»le must Im o-topped from deleiulmg theiiiHelveR
iign'ust conqili'st and <‘iis|:ivemmit by a fon'ign ene
my. if, prrrh'iliee, they si mo bl he unal'lr or un-
u tiling both lo fight tin* hniDes of lln-ir country,
ami to defraj, hy taxation oil their pmpeily during
tlw ^•r*lg^ *- of Dio War, the wbolo cost of its pro
secution. Wo dwell with exulting piido on the
memory of uiirnncesim* lieeniisi- limy fiaigli & Med
A* won Indepeti'leiice und l.ila'riy for DieniseKe &
lor us, although they did not lax them*' |«es during
tin* c.'ttititt'cutceof th" stnuule, with tlio wlmlo of
Is huge exp.'itso of moitoy, mid comoqueniiy, en-
iuiled upon future years, anil n succeeding genera-
Don, ti heavy pecuniary debt. A dent, how
mall in comparison witli tlm inheritnnro it con
tributed to purchase! Ami what infamy would
they not have earned, in lieu 'if the glory
whiriii* n itt their'* ami tlmir country's forever
What debasement and slavery would thev not Imvc
iraiiRiiiiiied to its, in place of tlio greatiicsr, the
felicity and the liberty which we now enjoy at limit
hands, IihiI they made tho dread of incurring nnd
entailing a heavy pub ie debt, a pretext (,»r mlur.is-
sloato tyranny. A like view is nppltciihlo to every
war. The principle* bn w hich it i* founded is, Dint
('«»' the defence of the country acniast great evils or
fornequiring for it great nnd permanent i.enefiu, it
is proper and patriotic to 'nke measures necessary
to these objects, even t Imngli limy involve nn ex-
pen lit ore of money too heavy to he borne by tho
p 1 'find of limit' execution, ami requiring 'here-
('•ie to he di-trihulcd between pre-ent and fu
ture times; u rule most nquitnIOo a* well ns nectj*-
»••>■* iiectniso hiidi<* times succeeii to Dm advnnin-
ge* of such ntCHsures.i'i "ll thn fttUimss of fruition,
whilst to those hy whom they are achieved, they
mix* often oo.y fell iu prelusive drippings, and not
uufreipmiitly eiipiyed merely in rnp uroti* prospect.
And can it boargtind tliui this noblest and most
henefieont pritwiple of Imman nnlttm, that by which
each geiinintimiuf n country is prompted, whenever
occasion arises, to draw to tlm aid of it* own ener
gies t hose of iinboi ii million* by the Fimplo process
of lineal ant eipntinn, und wield the whole in u
mighty effort iur sumo gru.it slid enduring go at
which cmild htjuootherwise accomplished, is a prin
ciple which is to lie dormant in times of pence,
nnd is nllowed dovclupemeut and action only on
licldsof war and amidst Dunlin of arm-! Will tho
people and Government of Georgia tio up their own
hand* nnd refiisn to execute a great, though p.-aee-
t'd work, mi Die groiimi that they nmv nut, in tbeso
halcyon 'lays, attempt any high achievement of
which they ore not propnred to pay the cost at every
step, u* u is taken I .So have not thought our
people or Government.
T hoy embarked iii Die great undertaking of uni
ting our Atlantic waters with those nf the Mi*si*«ip
pi nnd its alt< ihmaries, under no such misconcep
tion of the policy by which such a w ork should bo
ncconqilislied, a* that Dm whole cost ofii shmi.d Iw
extracted by luxation, from the pockoti of our citi-
sens, during tlm process of its execution.
1'lmy vlcw.-d »t ns a wotk in which the future wa $
interested us much as tho present, nnd ntmo limit
,mc * Dm present,—m.d ilmrefnre, they regard it as a
sound and patr-otic principle, to ilratv until-' pe
cuniary resources of the future in aid of the piescnt,
by rontmetiag n d. In w*i:ch thn futam mu-t c.intri*
litre to discharge. In pur-nance of this principle,
Die sequel of the presoni report tronts tliis work as
mm not to lie completed, with means levied by taxa
tion, hot hy hi-itiH nnd cri'dits, ba-ed on no antici
pation of the resources of the future; and siigge*'*
the manner in which such anticipation may be made
certainly ••ffi-etive far th" pirpwMf, notwithstAudios
Di" imp. s*ibi| ty of obtaining loan* in Dm great mo
ney markets ofthe world, ut tin* present era of tin-
p .nlb-ict) p. cuniury «mburnis«m. nt and 'lis'rust.
Il re-ults Irom the view wiiirh lins (men taken,
Dint Dm iutt ls.it the Stxt® are those only which mo
tn hetound in thn Central Bunk, and in tlm pockets
uf tlm tteople. ImM any should b-liew thatlhe un-
expeuded iaiMncesofft>rmrr specific uppropriations
would afford to «heirextent an available lund, the
un»ier*i«m*d deemed it necessary to invest'gate
there, -o far as to enable them to firm an opiaien
upon that subject. Theyareeuuruly sa'isfied that
no reliance can lie placed upon thi« resource, and
advert to it nuw m ivly for Die purpose of off- ring
some suggestions in relation to past and futre appro
priations ofthe same nature.
By the wet of 179'J, the CnmptrolW is requited
to keep fair and accurate accounts, sltewing the sev
eral appropriation* of moi.ey, &c., Ac.; and by tho
same act, it is mnde his duty to report to the L* gis-
letere, within the fit st werh of each annual session,
an aeresiet tif sll balxnre* nf enproptlAioet remain
ing tinei|Miidrd el Die c!o»« of oerh poliUrei year.
Tint first pan of this requisition is mmolied with,
by checking at tho Comptroller's ofti.-v, tlm warrant
which is drawn for any specific appropriation, and
wnmnrff it ln» hook kept for that purn-tse. Until
Dm act* of 1838, to regulate tlm auditing of ar-
c.mnt*,lie docs notMp(n-er to bate (tosse-ss'd lira
means nf complying with the last, for went of any
efficient provision tu secure tlm •ccoiiinuhiiity on
thorn persons who ere immediately intrust* d with
Dio es|M0«liture of moneys specifically appropriated.
Kvrft tow, it it thought, es cunsiile.ittble sums of
money probablv remain in the bands of #»• it per
son*. 'ioap|i|nf«l, and unaccounted lor. that It would
lmndvi«..nle to pas* an act, amendatory of those
mi*, widen should ntiDmrira the de-ignition by Dm
Governor of some om* of Dm present Siatn House
officer*, or the appointment ofuno fur that specific
purpiise, win* •hunld be amp 'wcrctl ami requiteil
lo institute un enquiry into Die di*bursemont of past
appropriations, with an authority to require ac
counts from thosa person* w ho have been intrusted
to disburse tlmm, ami in ca-o* which may require
it, to institute action* ®t law, ur bills in equity, in
the name ami iMlmlfof tlio State, against all such
persons n* may fail to account satisfactorily, mak
ing it tlm duty of such officer, annually, oil thu first
Mm day in October, to report to the Comptroller
his nciing* amt doings in the pramuai, und \'o pny
inn, the Treasury any amount wliicii may have been
collected hy him, up to that lin e. Instead of Die
general requisition in the act of 1838; to make duo
nnd p»rio4li' iil reports, a provision is recommended
reqnir ng llinti he person* intrusted with tleexp'ii-
diiiire *,f .pacific appropriations shall annually, on
llm fir»t Monday m OcioU r, i odcr t«* the
(rol.'er an account, Kusiaitmd liy proper vouchers,
-bowing the aiiiouui which bus l.c< ii expemb d by
them, and Dial which remain* in their liuinU, and
upon llm requisition ofthe Governor,ami within a
time by him to Iw proscribed, slmll pay into tbo
Treasury, nny iionxpouiiuiJ balance remaining in
their hand*.
That it ho moreover made Die doty of Dm Comp-
trolloi, upon Dm requisition of thu Govoriter, to sub
mit to his inspection all accounts so rendered, whe
ther tl ey relate to pastor future appropriations, and
Dtat the Governor ho nit'hnrixed, from time to lime
to give such directions in relation to thn whole sub
ject o''specific appropriation*, past orfuture, as the
public interest may in bis judgment require.
It remains in tbo discharge ofthe duty assigned,
to xuggast n sy-tem of finnticn in term* of tit® to-
sulotion, w tth n viow to llm moans which ate neces
sary to sustuin.
1. A system uf public education;
2. Thn ordinary expmisos of tho Government and
the public works.
The subject is pros-nted in this divided aspect
from a bi-licf that various considerations concur to
recommend n aeparatioli of tlie rum! which is appli
cable to the purpose of public education, b urn all
Dio miter funds or the Slate.
Tlm Legi-latiire has heretofore made liberal pro
vision fur tlw purpose* "fuducnuHti, by setting npnrt
funds to Im exclusively duvnto l to that object; but
intermingled us limy w>to with iho other fund* of
the State, Dtey li'jvo failed to ho appropriated lo
th ir legitimate piupoie. Fveitin tlmcour-o ofthe
present yem.wehnve seen thut tho poor schouls
have been cuoq.clii-d to yield their claim to a mod
legitimately their own, too resources ol Die Contral
Bunk, Which were applicable to tout object, having
I Ktr-n applied to Die more pressing exigencies ofthe
G tvorumrnt.
11 public education be, as we believe it is, among
tlm fir-t duties of tt free p tqile, the ftn,d which is
iii.plicnbleto itshuubi bo oeld sm-ied nnd invi.dnbli*.
Wo leqie i his result will bo attained by the provi
*■""
Again, common schools sustained hy tho unequal
comriluitiuus »f tti® pour und the rich, ns in cn-es ,.f
g.'tierd lixntiun, nppliculdo to tins object, are, how-
cvi'i-unwise Die fueling, revoltiuglu thu prble of llm
popiis. nod peihups still more so to that of tlm pa-
rents, lo-liiuiiuus for this puipnse, which are-us
tnineil hy the equal cuiitrihiiiionsof all the oiiixetts
without regard to thou com,iantiivo poverty or
weal'll, will place all tlm chtldreti ot the republic
who may he vducuied in thorn, on that fo ting of
perfect "quality, in w hmh tbo Constitution does.
Hint the laws should place them.
Those emsidenn ions connected with Dint of tlm
facility with which tit® cotitrihntintt necessary for
tit s pu> pose, small ns it wih b ■ for ouch individual,
may from time to time be gindonted lo suit thu ac
tual wants of the State, for tiie pnrposo to which
it is applied, have influenced tho undersign.-d to
recommend ritis separation, mid slid further to sug
gest the propriety of applying th s separated fund
exclusively to Die support of common school*.
Tito time lias arrived when carrying out Die spir
it ftl’Dm resolution under which wo aro acting, this
appeal is to be imido to Die people, in the euii.-o nf
eii'ictilinu, and mnplc and efficient iiieuns provided
to viismiu it, a* in lint pre-ent ago it should be sus
tained.
Mdiioiiiinn is tho second grout obj'-rt for which
tho Legi-lalua d-'siros to provide "ample and
eilicieut nn uns.'* To enlarge itpun it* importanou
would seem t»» lie (mtiec.es.'iuy. The vmy resolution
by vvuicli tliis co ninisoioi was ciuntoil, is evid'-nco
ol Die duo;- soliiTudo loll by the pnqde lor Dm
piouioiion iifkii'iivledge ondviniai in Dioirclii.dteu.
Igun ntiru and vice uccoinpany each nth t with
■dttv> >1 Die uniformity of causo and rff.-c ; and as vice
rail lie rest ruined by ft nee alone, und by i be nun of
l'"wer, vice and i b riy can never long c .-exist.—
\Vill, this tnull, all experience concurs. The fnun-
deis of imi- Kcptth'ic were seiisibb- *,f it and m ule
eniL provi-ion foe the endowment .dan Uiiiv«r-iiv,
nnd id Comity Acndoiid.-; hot unhappily the pro
vision- ttuido U..m timujiu time litr tbvseohjurts.hnvK
not produced a I tlm good that (night have been ex
pected. This is cloudy attributable io tho hither-
to un-etilcd slate of ottr intortial ultiurs and the
consequent w*«iit of system, und economy, in i lie
Duplication««f th® funds set apart for the purposes
of public education.
But tile University, nnd tlm comity naadomies,
though worthy of all the nttooiion and -nppoit they
it ive liitlmrto received from tlm State, nnd of yet
much more,from only u pan, uni indeed u small
part, iif n system nf public cdneniiiui, design' d to
extend its enlightening influence to Dio wlmlu body
of Dm people.
Comm n scliooU are indispiuisab'e to tins end;
and hitherto tho S'uie has not only b**eo without
any system of common school-, but has actually
neglected to provide adequate means for their sup
port, should a system lie devised miiiu'do lo our
condition. It is trim that this matter has uot bn-n
entirely iieglertiui, but tlm ininb qnney of tlm provi-
•ion Iii* in effect rendcieii mi our uffor.s iu this
way inefficient.
Hy exnminaliotrui the Treasury office, it is seen
that there have been pvd in support ot' poor achonls
for tlm lust live yems, but an annual average of
sevenlcelt ihoiisand f.utr hondrctl and cight<-on «iu|*
lars, and for the support uf c-oiutry academe's, Jim
the same time, ho nveiuge of nineteen tlinnsuid.
thro® hundred und fifty two dollars; which together
amount to hut thirty-six thousand seven Join Ir. d
»"d seventy dollnrs, a sum scarcely half equal U» tlm
soppmt of common schools alonn. We also by the
same means lenrn, that timro can bo no ceruin
calculation mude upon tho sum, small us it is, appli
cable to this pnrpi'se; nnd that in the short period
above staled,,t bin twice varied move than two
ninths of the whole. Tho same is true of Dio aca
demic fund.
Tliecffo'Ct of tliis irregularity in Dm amount re-
e-irab.'o, aoperad led to its iividrqaucy to tlm pur-
jiose du-igimd, has been the utmost total loss of the
nppropriaimns, and so it must cominue to bi*. until
the Stine shall provide amplw means, thvt may b®
certainly depended upon, to siMaiii on enlmgcd
system of public education, iu common schoois.—
Tlm wi-«|om of that policy liy which tlm Stare de
prived he;* df of such nj'tt.18 from her dmn in, is
not n »w t>» l>e culled in question. The public do
main has been di-triimted nnv>ng her citizens, to
vvlimnlit rein tins to carry out the policy. Ir* prin
ciple is, that capital itt the hands of tho people cun
be iie-tu profitably employed, than in the hands of
the Govern meat; that the public dom sin t- the com
mon proper.y of the citizens, from whom no more
should bo taken or wittud l by tbo Gov-rnment, tlmt
is necessary for its wants; un i that to them a sac-
cesstol appeal may always na made, for whatever
shall be needed in a just and wise administration
of Government.
I’ublic education nny lie considered with refer
ence,
1. Tu tb® Univer-ity nn l tit® Col'.vg a;
2. To tho County Acmi. mies;
3. To the Common School*.
Eachot these, elthoiigii purls of the same great
whole, have distinct operations, nnd should have
di>ti» ct provision mnde for them; nil of which, in
the opinion of the undersigned, should, us has been
before intimated, bo separated from, nnd indcpcn-
d'»ni of the other financial concern* of the State.
OK THE UNIVERSITY AND TIIE COLLE
GES.
The undersign'-d are required by tbo resolution
to recommend an ampio ami efficient provi-ion for
•hose grant agents in tlio cause of pub ic education.
They ouvc s en wish regnir Dm <1 lUcultus which
the»e in*utiuions have been couitrame«i to encoun
ter, and Dm rr«trine«lviigrs® of innnictliie,t*i whirl,
front »Mr limbed m>-ens they are obliged to con
fine themsrlres. I'nqitcstiettiibly they have done-
end ere doing much good, A certain d®|re* of In-
strue.tion Its* by their instrtimsnulity Iwen rommo-
nlrated lo many who would otherwise have been
without it: a ml there nro those In your honorable
hmty, who will |»rnr willing testimony to their mer
its, whimfford i» tluMT own {wtsous aWwwUmI evi
dence of Dm Imni'fil* w his?I* Dips® inslitmi«*li* have
c nfernd upon Dm* St»te. The good which iIm.v
have done, with menus thu* limited, i* on vainrst
oftlm grader good w hich (It y would eceompdsh,
if there mean* were ml irgi d. As nt present coie
stilntnd, limy occupy nn inirrmsMliite station be
tween a -cIiimiI or academy of Die higher order, and
n college; pu*ses»ing some mi no* of instruction
which tno nut generally to Ik* found in tho fmtiter,
bm nt thu samn time without many which lrgl lmme-
ly belong to tho latter. If the course of pub ic edie
cntlnn in (ieorgin is, at the res duiioti contemplates,
to keep pare with llm spirit of tho age, this state ol
thing- cannot be permitted tocontinuo. Tho Stales
of this confederacy, cn'cliing tlm spirit which is rtfu
among the nations of tho ourtb, and imparting to it
tut small portion of their own, are eugvtly engaged
in tlm pursuit "f science, und in th" cultivation id
tlio liberal and useful arts. They aro our neighbors,
and h«vo hitb rm been our compunion*; but their
march i« onward, and with increasing rapidity. We,
too, must quicken imr exertions, or im convent to
contempt ite their nd»unce, while we linger io tlio
rear. It is do-irab.u that --ur youth should bo edu
cated wi hie tho limit* of tho State. It is desirable
thu' within tlio-o limits Di y should bo enahrod to
receive u cuiirec* ef instruction as extended as cm
Im obtuuivd in nny other Slate of Die Union. They
should ii® thut qualified f«« Die guunUttnahip uf our
tl mmstic coii' ui ns, uud fitted lo compete with the
fmomiist, in tho councils id'Dio nation. Tliis is es-
pectiilly true of ..ur State University. More than
Iif y y.-ars luvo piuscd away since tho wiso and
beneficent net which cr mod ritis institution, tveeiv
ed the Logislntive sanction. Tlio spirit in which it
was conceived, us well as the language iii which it
wn-expre-sed, wore mike worthy ofn free nnd on-
I gh'etmil penplu. It will cooqiure ndvaiitugeously
widi the -iniiiarjlegislation of any nation of the
world. But w lint did Its fmtnern cement plat el—
Must certainly, u University, in it* proper sense—
**u universal school,in whico aiu tuoght all branch
es of learning,'' for Dm in-trucDon of our youth,
within tb® limits of nor own State.
Against tlio practice of sending thorn to other
c mimics for their education, limy appealed to our
nrido, when they urged it as too humiliating nn ac
knowledgement of tlm ignorance, or inferiority of
our own. They appealed tn oor p irioiism. when
they s od, "It will always bo Dm cause of an great
foreign nitachmonis, that upon principles of policy,
it is imidtni.'isiide.” If they -ould huvo extended
tlmir view to the present day, and looking to our
-.peculiar iustilm■ mi-, have witnessed Dm ceaseless
and in-itluoiis efforts which uro mudo to destroy
tiiom, w-ou d tie y not have found nil additiuttal, un
irre-istibic niot.v,-. to cheri-h that University, whose
f-iundii i-utsthay were laying, to tnuk® it indeed Die
•i'eniry Alma Matter—the nourishing inothor of
our y.iinh?
That such was tho viow of tlm Legislate e, in
tlm adoption of tlm re-olutiou under tliis Commis
sion hits been ninstituted, isobviou- from it* terms.
‘Flint tbo presun eiidowmeutof tbo Univcisity doe*
not meet litis reqoiroment, is nbundiuiDy mattifest
from the embiirrussoiL'ii's which crump its opera-
(ions, limit tlm number of its professors, and cir-
enm-criheiu usefulness. If your Honorable l». dy
-h ill bedisp-rod to entry out the jit-i and liliciiil
view* of yuur predecessor*, which Urn uudcisigie'd
do not peunit tbouiselvesto doubt, it only reomins
ftn them to suggest and ovruuntiy recommend the
furtlmr endowin- rit nt tliui lustituiion, tin ier such
provisions for the accountability of tlio trustees. u»
may be dei'iiv d neross ity.
it is a dtt't woich Die undersigned perform with
oli'usure, to bring m Din no.ice of your honorable
body, Du* claims of the other principal literary ui-
sliluti-ui- existing iu toe State. Th ure import*
nut ag -ms iu tin* grd'it tuisiii. ss of iu-irnciion, and
caiinol be overlooked io muking pr>i\isiou for u hie
ut'.il uud uiUcienl system of puh-ic "<1110(1110", They
tire iiiilt- il f aoided by private endowment, but •li< y
Imvo tbo ptililtu conli emciiiid sane:ion. und give
promise nf much ttsefullnuss Tliough origiu-itirig
wi h, umI chiefly susliuned by the particular reli-
gwtti* tw duttoiis. under wlmac direction tl» y 1
upuciive y are, sriii tlmir cli iracler is not H Cturim
Ad arc alike emulous in Die cause of virtue aud sci-
e.'iciyuid will iillexen-ise u sidutaiy influenru intlieii
promotion. Out) of tlmm 1 nguged in llm ciiitivn.
timi of the futn.du mind, present* strong nnd pi cit-
liar claims to Die liheiubiy of Die Legislate c. A
system of pubbu udutMiion, widch should leave
Diem iiaprovi.lud for, wuuld no' iii the view of Dm
uailoisigned, cousi-t with the spirit <d'tlio lesoln-
Don, oii-ler wh eh they are acting. Th y mko ieuvi*,
the ofore, to suggest the propri-iy of an oiulo.v-
nu'iit to tltc several callcge* of tho State, (iropor-
Dom'd 10 the lioimty of Dm I.eg'Fluture to the Statu
Uuivoivily. Thus Fustnumil by too Legislulure,
tituii suci'ess will be cr tain. Their hallowed in-
fliionci) will im lint by nlluruiind, and our University
fee ing Di® general mtptt.se, nml {noli ing by her in
ert' ist'ii ability, will o.ovate yet big tier hor own stand-
aid of lit' iMry and scientificolltiiiiineiii.
OFTHE L'OUiN'l Y ACADEMIES.
Tbo County Ac ith-mie* have h en bereti fore
iilmra ly emtovved, and may. in tiie opinion ofthe un
dersigned, be s <fdy left hcrunl cr to Dm manage
ment • f thou own trustees, without further appro-
prirmii ihun n (iistrilmtion of tho present ncademiu
i'n- d, in sneli propiiitii.iis es may Im just. For thin
interm, dial" c<iis» of scliools, this provision is deem-
• d adequate, as experiencu tuts proved that they
ate capable of «e,f rapport, und tint riv>sw of u pr.-
v.ilo louad.i ion, uro ordinarily most siiccuxnful.
OF THE CUM.YIUN -SCHOOLS.
We are next to consider Dial cIhsf, which i- low*
e.-t in tlio scale uf literary emiaeiice, l ot by tin lho
in.'s, impoiunit. Common School instilution moat;
tinder uny form of government, exert a decided and
controlling iiillu- nee upon the character ofu people.
Mu»t of all, is il felt in a bee and popul <rgovern-
•J-. ; *V>i
muni, in which the ndmiaMtrn'ton will geimrally ho
Wieit the people ure. An ignorant nnd vicious peo
ple will .-ei'lunt cIioofO for Dm.o.-e|fe«eulightened
and virtuous iegi-laiius and tuU*r-. And whet® nil
utouliao free to -oce.vo ned to bestow offices
triis: ntni hnn»r, it is obviously the direct and im-
m dime mteiest ufi very citizen, that every otlici
citizen should im eidigbleued and vir,units. This
itttet'vat Utw perfectly equal, a* our political rights.
It is u personal interest entirely independent of pro-
p rty, mid resting upon tho relation which exists
between the citizen mid thn government ofi i*choice;
chn-eti b.'t aosr'b-hi ciib uiato.l for bis protection.
To sustain tins interest, ult me equally bound to
c-'iitribuie; the poor, no less than the rich. And
fori unit' ely tier* is no one having the faculties uf
Ins b aly and mind itnimpareil, who cannot, with
percci c ise, coati 'bu»e un much us can be required
to support n system of comm mi -olio .Is, quite ade
quate to ; he insti union of nil the children ofthe
Sstut®, wh«s® parents would bo di-p.<Kcd to send
thi-rn there for instruction. There can surely be no
citizen who justly e-Dmates the privileges which
he enjoys under o free government, who will not lie
willing to contribute bis equal portion for an uhj. ct
cssomiaito thvir pro>ctvat.on. In this u.uit, r, no
less than in the mcrci-e nf tlmir civil rights, should
tho whnic body of ciri^ns stu d upon u perfm
level, nono giving a- hj coiupul-ion. none receiving
as in charity; but belli giving und receiving us free-
moa .-tedious to advance their own individual intur-
cnIn, and to promote the general weal.
By Die Inst vlvctinn v« terns, th re were about
sixty five tlnujMind votes ensr, nnd thi re are nt this
time, probably, seventy five thousand male cit zons
in Georgia, above the age of twenty one years, und
under that of sixty. It each of these should pay a
capitation lax of one dollar, it would raise n fund,
which Would exceed more 1 linn fi-m limes the
amount of the average sunt anmtuby pwiit for poor
schools .luring the lust lira yens; n tend, which it
is believed, would be ndoqoute to lit® requiremonts
of tlm roMilutiun.—The uml-r-ig.iod. riiercfore,
tak«> leave torecominemi simh n mx, the proce-d-
ot which shall b<i nppr"pri:it<*d exnlu-fvejy to Die
support of common scuunl-. mid tfiey urge us ren-
*0 is for ad'pting it its tho means to provide a fund
for tliis purpose:
1. Tint it is certain, and may at all times be
safely relied on.
2. Tint it mny easily he kept separate from, mid
umifft'Clcd by, any other fiu.iacinl uuucerus tif the
Slate.
3. That it muy bonlwuy-exactly ndju.-tc<l ut tho
public wants.
4. Tliui increasing wants, will in this modo of
providing tor them, n way* benueuded by im reus
ed ability to meet them.
5. That un ample fund mny be thu* raised from
the wh»|e body of citiz-n-, without pro-sure upon
any particular portion ol them, to be returned inline-
diatelyback, not inchiritios, bin in public institu.
thins, in which all classes lia'O an equul interest;
in which all can participate without n feeling of
humiliation, and by which ti e general good wilt be
mo«t effectually promoted.
Th" capital ion tax which it is thus proposed to
asses*, i* 11. itself .m ill; but when tlm object to
which it i* I-* be applied, 1* considered; when it i-
, reposed; aud tuui ly. iwaiUltf •* |wr. of a system
wl Ich iiropo*e* that die poor wbeherafo
Wyond the sum of beedrs^ mv%m
jslnllpeynoothertaz, It brromee* mm trifle ev^,
r .un tlw poorest. Vet small w U is, the greM re*
suit wilt Im an nnnuri fund, adiquete to sustain m
system of common school instruction; «tt soeeiarccd
4 scale, that all may be taught who can, aed are
willing to leant.
Tw giv® rfficietwy to th®*® benevolent provisions,
it only r* m*ln* to require, that the amount ao col-
(cried, shall he unnumly d * rilmted In etnode, end
tn pro|Nirtions, to Im ptvrerilNHl liv law; wlti'e tb®
colhetinn of tlm tax muy Iw rendered certain, by
roteting that no prison shall be pi'imltted to vote
at h.,> election, in Die county, city, town or village
of Id* residence, who shall not have paid it; wf
which, tbo only evidence to be received, shall be the
book of tin* Collector, or his receipt.
Thu system which is rocumtnended to yourhonor-
Hide body, a* adequate to the purposes i.f public
education, embrace* three provisions, which may be
thus luii fly reenpituiuted:
1. The endowment uf Dio University of Georgia,
nnd uf tho other principal sominarie* uf learning,
by fixed appropriations, os recommended in the
Proe-ding part uf this report.
2. The distribution among the county academies,
of tho present academic fund.
3. The ds-si's-mcntof nn annual cnpitnDontax,
fur the purpos- of raising 11 fund fur the aupport of
common schools. 1
( Continued on 3d page.)
The Miciiioan Elect ion.—An artlrln from on® ^
of the Detroit jniiniuis, quoted in th® Albany Argus,
uttempts to n-A'gn the “confidenceofthe dcm'ocratic
P'irty" ns 11 reason fur the lata result in Michigan.
H"r** i- another from that sterling democratic print,
Die BaltimoreKopuMicnn, much mure to the point:
“We C'intiot say that wn very much regret this
result; for if Dio Democratic party or those who pro
le-* to bo such, ever deserved to ho defeated, those
of Michigan hnve richly merited it.! The Senator in
Congress should have been chosen last winter, and
having u mujm ity in thu iMgi-dntw®, th® Democrats
might hnve made the election; lint in consequence
of suffering private preference, to Imvo more weight
Limn the lilting uf thu place with n man of sound po
litical -entinient*. and one who would support mea
sures cnlrulated to promote tho best interests of tho
country, they divided on account of tlio individual to
bo selected, nnd suffered their session to terminate
without making uchoice. Thecon-uqiience is that a
whig will ho elected, and they will be all disappuint-
ed. But this is hy no m<-nns the wt'M.
The spirit of wild and extravagant speculation,
which husbrought so much evil upon th® coteDiy,
has not prevailed to n greater or more mischievous
extent in uny Stnto in tho Union, perhaps thnn in
Mieiiigan; nnd we tire compelled to confess with
mortification, the lending und prominent men in Dm
Democratic party, have been as deeply engaged in
it nny other*. The Statu bus been covered over with
banks, anti tlm paper that bus been issued by them,
is among tin worst, if not tho very worst trash
that can bo found in the country. While tiie party
throughout tho country have been condemning and
Illumining Die existence of this wild spirit of specu
lation, nnd the blunted credit system, which whs
producing an much mischief, they Imvo been covered
overhead and ears in tlmm. They bear no ulfinity
to tho Democratic party in other States of thu
Union.except in name; und the course thoy have
pursued bus Iweii n source of mortification and re-
proncli to tho party elsewhere. Tlm precepts of tke
party and their practice were cniirel) at variance ;
nnd n« w® desire th'* success of the party nn account
of it* principles, we enre nothing about tho defeat
of Dios,, who, while they profess these principles,
show by their conduct that thoy are unw illing to art
in accordance with Dins® priucple*. Had they acted
in accordniice with th® principles of tho party and
given ti firm a-d vigorous support to its measure, wo
should have f It 11 stronger desire f**r their success,
ami have net n doubt but tliattlmirsuccpss would have
hetm equal tw Dint which has nttemied Di® labors uf
lit* pnityelsewhere. Slu.tiM their defeat Imvo tho
Hfi'ei to convince them oft beirirn-r, nnd indue® them
so fm to eh'inge their course, as to net with tho
party elsewhere, it will Im n fortunate circumstance
both to them nml uiImrs; and in liiut ensn they will,
w e are well persuaded, <*11011 recover the ground they
have lost. Then we can hail their success with joy
and delight. Dm until such it change is wrought in
them, wo -hall consider it n matter nfvery little coo-
sequence whether Dm management of the affairs of
the Htn'e i- in tlmir uunds or tlmso nf the whig*. If
whig measure* are tolmpuisued.it is indued better
Dint thi* wings should he in power; fur then tlm
democratic party ol-owher® will tint have to hear
the reproach to which thoy have hitherto been
subjected un account of their improper and ruinous
course."
“WHIG” TACTICS-NEW YORK.
The manner in which the “Whigs" managed tho
electioneering gnme to ensure success in New York,
nmy ho seen in the following article from the Albany
Argus. It is us"Ip.s.< to comment oil niicIi conduc
EJ* Ifit bo fair to infer from th® means put into
requisition by n political party to secure or retain the
asi'iMid' ncy, to wha: ends the power thus acquin il
may bediroetnd, whitt must he the public estimation
of Die character of ih" present state dynasty tutd Dta
party which upheld* it, w hen facts like those given in
the art ich* from the Solmnecindy Democnnt, coma
before the public? Here is ncu*e of fraud upon tho
ballot-box beyond nil doubt. There can lie no mlstukn
in thi- matter. Upwards of one hundred electors in
thv S ciuid Ward «f the city of SShencctmly, hove
made unlit that they voted for thu demuratic candi
date fur the assembly, nt the wnrd noli, nnd saw
their votes deposited in the box:'And yet, upon the
cunvnis, eighty-seven only of those votes cumoout
of 1 lie box a* they were put into it!
No wonder that circumstance* ao suspicious, to
Niiy the least of them, as these, should have astound
ed the good people ofScheiivciody, 'and led to the
iiivesiigaiion w hich bus bronchi Die moiter so fur to
the light. Wo trust thoy will mu rest until the affair
is prelied to the bottom, and we cannot doubt that
the respcctabln committee charged with the investi
gation ofthe matter, will do their whole duty, and
present the farts in the br)u.senfossembly,'with whom
the responsihili y of n thorough examinaiion end
final deci-hm, of cuurs® rests.
“nirdVof a feather,"&c.
We do nut like to set our " Whig” friends Tailing
mil. Wu take the following Horn the Columbus.
Enquirer belabouring its brother “Whig.”
One of the Millcdgeville Correspondents writes*.
Dint no editors w«ro elrcto.l to the Legislature. Con
it be possible thut ho Ims overlooked the editor of
that able journul, the Sundersvill® Advocate, who,
hi hi* anxiety to allow tho world thut ho had read
‘Chevely.’cnmo down upon us like ‘a duck (goose
would perhaps bo mure appropriate) up a jun® bug’
in tlm following article, which we suppose is very
witty, but fununutnly (like mnztof the member*
when its onthai made bis bank speech,) cannot sea
the point of hisremnrk*. Will he enlighten us?
“VAUSTLY" IMPORTANT.
The Editor of the Southern Whig informs his rra-
d*T- that Di® Regiment in Clark county was reviewed
byC"l. Taylor, and inspected by Gen. Newnnn.
Stteh editorials ore creditable to the editor’s “head
and hurt." Why did lie not nlso inform us,
That in rainy weather thesireeti are muddy,
But thn: in Hiy thoy are very dusty.
In August the people are hot,
But iu December they are not,
Tho editor of the Springfield, (Mass.) Gazette, a^.
Whig paper, thus good humorcdly notices tho late-
election for Governor, &c , in this State:
“ Wo hope our renders will excuse the lack of;
news or editorial matter in our paper this week. ' }
Tho factis wu got rowed so for up Sail River on.
Mond ay by the Loco Foco party, that we have not.
been able to gut back to attend to our paper.”
The <muic piper contains tlm following :
N Fon Salt River.—Thn splendid
5firj5Se53Tr£» Stoam-r “ Musduchusct's” will
leave lor Salt River this morning. All tho Whigs
■>f ifo Uid Bay Slut® who wish tn i&ko pass*ge,ure
required tobeou b<<ard as earlyn« possible, as there
is a pr> sped of a full freight. Passage free, nnd
every accommodation that the nature of tho caso
will uDow. Ad hand* ab<n.rd.
Aw Estate ur Search ok ax Owner.—A young
man by tlio numo of John Co eman. who is a seaman
on board some vudsul sailing between tliis country
und England, ha* lately h emno entitled, by tho
death of a relative, to considerable property in Eu-
glnnd. It is not know n where he is at present. He
i- about 2b* years old, nnd has a hare lip. Refer
ence, Francis B, Ogden Liverpool
democracy.
Thn Concord (Mu—.) Fieemnn says,—“CON
CORD LEXINGTON, nnd BUNKER HILL,”
the scene* of tue earliest struggle uf Die Revolution,
are now all throe on the side of political right, and
Umg may thoy bo found side by >ida in the coramua
4uu«e.
Tbo New York Signal states that Mr. Forrest
ha* purchased a magnificent mansion, with exten-
dive «rounds, in T*eniy'*.x.»i,d »Uvet, to which ho
is now removing his family.
