Weekly Georgia telegraph. (Macon [Ga.]) 1858-1869, November 09, 1858, Image 1

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y V yy ,/Jr\ Wt 'Zy?'L - jg; wj sErtr Ciiisny. MACON, NOVEMBER 9, 1858. VoLorE XXXIII—No. 8. Tin: oFMGLymmimi lit: , . n m tsurn rvfiiv DA V MO ItNIXO. TR CM-*: I,(11.1.AKIN ADVAN(.'R ..,-vcry <ms > when' the .iilisc-ription ,1 cult or lilt- I i>„m the Unity Federal Union. ^ n «'n TVTOCOQ ri'O try must necessarily remain subject to panics, un- jOVSrnOI O ilicooag C. Jer heavy pressures, nntl at certain, if not frequent Raw ITIYK PEPAKTilWt, j MilledRtviUe Sot. f.rd, 1 856. ■ r.li-./nt >r //.' SrvnU ■ ’'f,, ,11,'! 1! . «• <'/ K, jifctentalire* : in!., iin' much pleasure tu be able to state financial condition of the country isgreat- ihc adjournment of your last Previous to that time, the commercial 7? ,. £ rn »t' il by a general suspension of specie ..j* the luvnks of many of the States, in i'.■ r.o-t Ol tlie 'tanks of ibis Stale, attended v A tre .. and loss of confidence, had depressed i-Criu ef ottr people, and seriously affected all ' interests of our State. “ -> •({ d.iv of DecemberInst, both branches ., . tirneral As-unbly passed, by a constitution- nl , without Executive sanction, an act cn- ■ art to I rovide against the forfeiture of cirri! hank charters iu tiiia State on account on-Kti*' ptyieent for a given time, and for r nuroows therein named. This act made it ttuivofdw Governor to withhold proceedings L .j 0 tc t of j« !■< for the forfeiture of the clmr- L '.‘ueh h""'-‘ ill tilia Stale as had violated the I .aid acre in a .tato of suspension, until the t ,; 1V of go. present month, or till thehappen- of certain contingencies mentioned in the act. j. vir«- donbiles*. of the great imposition prec- j open the people bv the banks, in taking from „ nlorv under the name of exchange, and oth- he the usury laws of this Btate, so far Map. hi,, to banks, were changed by the eighth and * ,:i sections of said act; by which ilia made dioranv !>ank or bank agency, by itself, its or agents, directly or iudireetly to loan i .,i a greater rate of interest than seven per : ,-r annum, and at that rate only for a longer ,‘rt, r time; or to discount or purchase notes, ■- or elide aces of debt nt a greater discount •cu'ii per cent, per annum. And all notes, 1 drafts and contracts of every sort whatever, en for money loaned at a greater rate of jntcr- thuii semi per cent, as well as all notes, papers •iHer.ee-of debt discounted or purchased in ti,.n of said act, aro declared to be utterly tad void, and irrecoverable in law. * tilth section of the act regulates the per «ioi a Inn!, may receive for exchange, when a tills are tendered atitacoiuiter in payment or, by a citizen of tins State. sections containing tlicae provisions were . inserted in the act for thopurpose of pro- : the people against the usurious and exor- , actions of the banks. And to prevent, as .••slide, violations of the act, in the purlicu- ve referred to, ills enacted bytlie eleventh that, •• The affidavit of bank oilieorti to mud and scnn-nmmal reports, shall, in all ca- . that the hank of which they nre officers, has -. If, its officers or agents in any particu itcd the provisions of this ai t." And the < .ution makes the offence perjury, should ifiiccr* swear falsely in makingtiicirrcpoits. ...iriiig of bank officers the solemn guaranty mill, under heavy penal sanctions, that the i. not been violated hy them, the Legislature •At Mii-vcd they had protected the people ■t .inli illegal practices in future, V jgh I withheld my sanction from the act on nit at other objectionable features in it, and munit of the doubts I entertained n* to the iiutioimlin of portions of it, I have no doubt din welt portions of the act as prohibit the g of am; by the banks and regulate the n r of ttuUiig their annual and semi-annual Is; which apply alike to all banks in the State, )i;i coiutiitmoiisl and expedient. Kntcrtain- tlirsr viion the 1st day of June last 1 is- Iror j nc!miatiort calling on the banka to make rtturti- according to law, and to comply with •leveath -ution of the act of did December, As tills .vet had been passed by the Legis- : nuirir forth®relief of the suspended lianks, it t!»' earnest solicitations of their friends, I r son, in common with all law nbiding citi- i r! the State, to suppose that they would r c',Corfu) obedience to all its requirements. * ih much regret, how ever, that 1 have to ;• the Legislature that by far the grenter mf tbe banks whose suspension had been irgviwj, and whose churl era had been so ■th rtlipTod from liability to forfeiture, in open - of the statute passed for their relief, as •ii t!s oaiiks in tho State which had not rtuW, either neglected or openly refused to the and make their returns as directed I tire mandate of the statute; thereby !• iii't'ivos in a position of defiance to the --.oil authorities of tho State, agate of tilings 1 issued my proclamation •hi by law, publishing the names of such banks, ami notifying the Treasurer of ■,« their hills would not be received ill cl taxes, or of any debt due the State ot lb! hank until they should comply with ■ w 1 make t! eir returns as directed by the ; uni this they have hitherto neglected'to Ii i> evident, i .tercforc, that the penalty of hat thiir hills, now prescribed by law for a v vu mate their returns, is not sufficient to *1 ' i i • to the requirements of the slat ltori ,„. uc 0 y tbe banks have made f !>r t a ; - 5 , sri nm j by disregarding in other bb ; • act ot did December last, tiian they wt hr suffering the present penalty for not a; return. i n accordance with existing lows, r ikr|us 0 ,c 0 f compelling these corporations tU "'vd.rnee to Urn law in future, J respect- reeoTnir,that the penalty for disobedience ‘'IfHiirl in addition to the penalty already n lint a ta S 0 f two per cent, a month up- summit ol the capital stock mention- tie darter of each delimiuent bank be levi “t'fiifttrd in gold and silver for the entire time - *U:i snv MH-h bank may in future remain •’•sh of ili.ohcdici.ee, and fail to make its re- *' i&tcted l.v the statutes. There can be ■ won* n in wealthy cor|ioralions should be ■i'f at their pleasure to set the law at defi- ‘•‘"' irxiiviiluals are couijieHed to sulTer rig- tr-ealti,.* for its violation. The mandate* of * *®«M be obeyed us promptly and implici- i' r mo.I influential and wealthy as by the '"• asJ most needy. This is republican ciiual- * our people should be content with nothing 'Uer had the act of Utlil Ifoeember, 1837, "Cvl, than the banks, forgetful of their •• to expand their circulation, to discount w! relieve the country, refused to discount v ver good, w hen oflorcd to them in a 1c- iiiurse of hanking business, or to extend ’ -.lions to any except perhaps to a favor *• .,di a* cotton buyers and other specula- ■etrluata and others compelled to have , «*W, were generally nimble to ob- ., °[ 'ftia three per cent. The price of ' i-ivlia^ al |d monetary distress liecamc •-Mug!,on, jjnate. tidog tints abused the generous con- ^ in them by the Legislature, contin- t i, *•*■' b ■nclits of tiro suspension long i i" ®f the great cities of the North and " - •'•r-mcil specie payment, and until the j-'ntUun of an injured ta'ople expressed " < i-ublic ;,r,ss, by public meetings and n,’ ( ' V40| c >o preraleut that tliev felt com- - ir „t future consequences to retrace V. ill-1 curtail the speculation they otlier- ; «e made out of the suspension. Tliev v-^rwrrd to re.nine on the 1st day of , ! “ baitting, liv their resumption six no ”,*4 01 the time fixed by the statute, , v i nr, 'i.jty as they represented to the Ji_. " tr did exist for the passage of the , ' -wnim of great ability and worth, who j i', ' °foiie ot tiie most important and in- fliii -. !'V ni , the State, in liis report of May : g, '.‘“••'•Siting for the suspension, and re- lid11 '?“'■• that the legislature had given •it*| L , ^ of November, says: “Our banks, >d, 0 r ‘he supposed odium of suspension, t ].. ^“'eoatho 1st of thepreaent month, ro-ji * ,|r "‘f-rence, therefore, that the -.. j’i 'J Tt ' ontinqcd the auspensiou till the t... t : 'o art for them to resume ; but for li. ’ Hhiic opinion, and their imiiatunrr “uoa | odium of suspension, 1 ’ Pub- !*;• tliUs compelled tho baulcs to re- tilDe hxed bv the sutute, and the we, as rational men, should “- v vxpcnonce, and try to provido as "u?,*** abuses of their puvflegcsby s "**«">< in future. idV.*® ““ l he deuied by any one, that Wv,, 1 ’' 11 (ou liberal and unguarded grant rKin , and privileges to moneyed kiaf,,. Au d‘t islielieved that a future ex- * tiwould soon enable thtse mo- -A-ti , ,ro * *he government of Georgia, "xadv „, p fdie subject* of their power. . aitucd ’iy soma tint they now bav« ventions and elections of our State, and in this way to crush those who may have the independence to atand by the rights of the people in opposition to their aggressive power. ) trust that the bold, in dependent nnd patriotic people of (Icnrgia may never tic compelled to bow the neck in subjection to the yoke thus intended to be inqiosed by tltc corporate powers of tiro State. Let it not be for gotten however by those who have watched with, anxiety the growing power of corporate influence, that the price of republican liberty is perpetual vigilance. The monetary and commercial affairs of the cuun- . —. iy tows that they now have • COUlljinAtmna anj ^ ftf) USC Of tho political con- mg,' /'““binationa and “ on *5 to control tl intervals, as long ns our present banking system is continued ivitli its enormous powers ami privile ges, which have been enlarged and extended by legislative enactments, chartering new banks from year to year. The people should take this subject into serious consideration and pronounce pnon it a calm and deliberate judgment. Every intelligent person must admit that it is impos sible for a bank having a paper circulation three times as large as the amount ot its spe cie, to redeem all its bills in specie ou demand. Should all its bills be presented for payment at any one time, and tho specie be demanded, it can then redeem but one third of them. In that case, if the bank bos sufficient assets, or property, the other two thirds may possibly not* be an ultimate loss, but payment must be delayed till the money can be realized by a disposition ot those assets anil property, which may not bo till the end of a lengthy and uncertain litigation. It is clear, tliereiore, that our present paper currency is not a currency convertible at all times, into gold and silver upon presentation ; and that only one third of it, should payment be demanded on rxll it one time, can, in the nature of things, be so convertible, so long os the banks Issue three dollars in paper for one in coin.- In my judgment no paper currency issafe which is not so regulated as to be all times readily con vertible into gold and silver. It is true our peo ple, by a sort of common consent, receive the bills of the banks and me them as money, though in reality they rest upon no solid spccio basis —But sad experience has taught us that sueli circulating medium subjects tiro country to panic at the first breath of distrust or suspicion, which may lie pro duced by the failure of a single bank having a large circulation and extensive connections with other banks, and may widen and extend to the prostra tion of the credit of tiro whole country. Such n currency, having no solid specie basis, can be a- vailnblc only so long as the community will con- sent to receive jirmnur* to /xry ./icmry in j,lacc of uitmeg ittrlf. The people take from tiro banks their bills tiiotui/. The banks receive interest, and often ex change upon them. When requirej to redeem their bills in specie, they suspend, if they choose to do so; and then, if an attempt is made to coerce payment in specie, they resistit holding a rod over the people hy threatening to make them pay upon a specie basis the debts contracted by them for the bills of the banks; not withstanding those bills when they received them, rested on a basis of one third specie. The high prerogative of exercising banking privileges, and issuing their own notes or bills to bo circulated as money, not resting upon any solid specie basis, is secured to the banks un der our present svstem of legislation as an exclu sive right, while the exercises of similar privileges upon like terms is denied to all individual citizens ot the State by stringent penal enactment-. The privilege of using their own notes as money, gives to the iavored few who enjoy it, immense advantages over their fellow-citizens, and may of ten enable the managers of these corporations to aniaaa great wealth bv their high salaries and large profits. It may however be said, thatmnny of the stockholders nre widows and orphans, that the stock is in the market for all, and tlmt the divi dends arc not greater than the profitsrcalizedfrom other investments. This may he admitted. In deed, it seems in practice, to he generally true that corporate privileges <lo not result so much to tlie benefit of the mass of stockholders as to the bene fit of the few who manage tiro corpora tine. To estimate correctly the profits made out of tho peo ple by those engaged in banking, we must not only count the dividends of seven, eight or ten percent 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 lield by the corporation. Besides, we should consider a reserved fund of two, three or four hundred thousand dollars made up of accumulated profits, and often kept back bj our larger banks and not distributed among tltc stock holders, together with the high salaries of all the officers of the bank, which must be paid before any dividendsnre distributed.—These sums, though made out of the people by tha banks, are nut f-e~- innuallv divided among the stockholders. To these add all sums paid to attorneys, agent*, &e., and all amounts lost by defaulting agents, which while they cannot be set down as profits of tlie cor poration, .'nice neither its officers proper nor its stockholders arc benefited thereby, are still sums of money which, under the wqrkim?a tlie sys tem, are drawn by the corporation from the pock ets of tlie people. To all this add the largo sums lost almost every year, on account of broken banks, whose bills are left worthless in tlie hands of tlie |ieople, xvho have paid full price for them us money. And take into the account tho further fact that the State, in 1818, and 1 SI!♦, issued $515,000. of her bonds to meet her liabilities on account of the Central Bank $210, 000 of which arc sti'l outstanding. And that in 1855, she issued $48,500 of bond.* to pay lier in debtedness on account of tlie Darien bank, which are still unpaid, making $280,500 of bonds on ac count of those two batiks which still remain a por tion of the public debt, the interest of which is paid annually out of the taxes of tho people—and we 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 bank ing system. Again, in many instances, those who control the corporation may’have great advantages in being able, if they choose, to obtain such accommoda- tions na they may desire, by the use of its funds, when a favorable opportunity for speculation oc curs. The dividends paid tostockliolders are there fore no proper criterion by whicii to judge of the advantages cf the corporation to those who hold it* offices, and control and manage its capital and its operations; or of the sums lost by the people on account of the workings of the system. Thus far I have discussed this question upon tlie supposition that the liabilities do not exceed three dollars for every one of specie actually on hand in tlie banks to meet and satisfy them. This sup position ia more favorable to many 'of the banks than facts will justify. The law of their charters only requires tliat tlicir liabilities shall not exceed ... in . <i.in Af utiiviliil kfnt'k nutilill- its bills be justly considered safe as a circulating, medium, or <m isonry, if >* cannot redeem them promptly on demand In consideration ofnll tiro imperfections and.ibu scs of our present banking system, 1 am of opin ion tliat wc should do all in onr power to bring a- bont its complete reformation, and if this be not possible, we should amindon it entirely. I am Hie advocate of no harsh measure that would either violate the legal rights of the present corporations, (liow ever unwisely they were granted,) - or that would bring distress upon the people, by a Midden return from a paper to a specie currency. A re formation 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 ii-farter any bank now in existence, tlie system would gradually work -itself out by efflux of lime; 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 xvlio conducted the rev olution and formed our constitution, intended to guard tlicir posterity, when they declared in tlie constitution that nothing but gold and silver coin should be made a legal tender. In two of the .States of this Union banks arc prohibited by constitutional provision ; two others have no banks, and another had but two small banks, whose charters it is said, have been for feited by the late suspension. And I am inform ed upon wbat 1 consider reliable authority, tliat the late commercial pressure was comparatively but little felt within tiro limits of those States. Should onr people determine, however, to con tinuc the present banking system, and to charter new banks, increasing tlicir number and thereby increasing tlicir power in the State, I would res pectfully urge the importance of guarding all char ters with much greater stringency in the future. Let tl^e charter of each provide tliat tlie entire li abilities of the bank shall, at no time, exceed three dollars for every one of specie actually in its vaults and bona fide the property of the banks on pain of immediate forfeiture. Let the simple fact of sus pension of specie payment render tlie charter ab solutely null and void. This would deter them from engaging in such wild speculations and ever issues as compel them to suspend in case of pres sure. Let provision also lie made that ail execu tions issued against the corporation may be levied upon the property of any stockholder until the creditor be satisfied, leaving the stockholder to his legal remedies against tlie rest of the stockholders to enforce contribution suiting themselves. Let the bills of tlie banks in the hands of tlie people at the time of suspension, hear interest from that time till paid. And let the Legislature retain the right, by express reservation in tlie charter, to al ter, 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 pur pose whatever without retaining a similar power, should its exercise be required by the interests of tlie State or the public good. Il the corporation is unwilling to trust the people with this repeal ing power, liow milch more should the people be un willing to trust the corporation without it. rBomr.iviox or suat.L hills. Several of the States have already passed laws irohibititig the emission by their banks of small dlls. I once entertained doubts whether onr Lcg- siature could do this without a violation of the chartered privileges of the banks; but on more mature reflection and caicfnl examination, those doubts arc entirely removed from my mind. I therefore recommend the passage of a law pro hibiting tlie emission of small bills by the banks of this State and forbidditig, under heavy penalties, the circulation within this State of bilis of a like denomination issued by banks of other Suites. Such an act might prohibit tlie circulation of all bills of a denomination under ten dollars, after twelve months after the passage of the act, and those of a denomination under tw enty dollars in six months thereafter, or at snch other stated times as might lie thought best, so as not to embarrass the busi ness transactions of the country. The effect of such a law would be to cause smullbillstobe with drawn from circulation, anu as they must be I deemed by the banks witli specie, the specie would go into circulation in their stead. This would cause gold and silver io takethe place of bank bills in all tlie smaller business transactions. The labo rer would then receive the price of his labor in gold and silver, tlie fanner of small means would generally receive the priee of his produce in gold mil silver, which would remain good however much auk bills might depreciate. srB-TKK*srRY svsTasi. three dollars for every one of capital stock actual ly pttiil i:,; and not three dollars for every one of s'liocie on hand to meet those liabilites. As an il lustration of tlie error of our present legislation in incorporating hanks, suppose the amount ofthe cap ital stock of the bank be limited by the clffirter to $5(10/100 which is to be paid in, in gold and silver, by the stockholders. The charter then provides tliat the liabilities of the bank shall at no time ex ceed three times the amount of the capital stock actually jm»W The Stockholders pnv in tlie $.M a ip a si, in gold nnd silver. Theifircetors ofthe bank may then, without any violation of tiro letter of the charter, incur liabilities against the bank to any amount that does not exceed$1,500,onO; and tliat too, without anv obligation on their part to tell ill their vaults the $500,000 actually )«,id in or a like sum. If they should take out $inn,oon of their specie and invest it in real estate or other property, leaving hut $100,00" of specie in the vaults, tliev may still contract debts to the amount of a million and a half, and may point in triumph to the language of tlicir charter, and to tiie fact that the $500,000 of capital stock was once actual ly paid in as tlicir authority for sodoing. This lunik legislation or our State docs not seem to hare been wen understood by our people. They have generally believed that our banks, by the let ter of their charters, were required to have on hand at all times an amount of spccio one third as largo as the entire amount of tlicir liabilities, me banks Imre understood the matter very differently, and have not onlv claimed, but exercised the right wlien they regarded it tbeir interest to extend their liabilities far beyond three dollars for every one of specie actually on hand to meet those habmties. Bv examination of tbeir roterns made to this J'e- partment in October, 1857, it will bo seen that at the time ofthe late suspension of onrbanksinAu- ensta and Savannah, the liabilities of one of them for bills in circulation nnd individual deposits, ex ceeded Mirfren dollars for every ey dollar of both specie and bills of other banks winch it thou had on hand. Another had only one dollar in fparte in its vaults for crery dollars ot >t* ties for bills in circulation and deposits. Atfothcr had not owe dollar in fperie for ttvery ..-irs of lia bility for bills in circulation and deposits; and an- other had onhr tmt dollar i* > or every e»cv- en dollari of iu liabilities of tho character men- Ucned above. It is true these banka had other as set*. but those assets were not money. The qoes- tion naturally suggrets itseir, how cansucha car- rency be convertible into gold and silver—tne money of the constitution—on demaud « Fe tation? How can a bank cash liabilities for every ono dollar m specie, or even offive dollars for one, pay itliabihtiesproiti?^ Iy on demand ? It is Impossible. And how can I also beg leave to call the attention of the Gen- ral Assembly to the propriety of establishing by law, a svstem for our urj system mine united States, the wisdom of which bus been fully demonstrated by the benefi cial results of its practical operation. I earnestly recommend the adoption of a»ch 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 tlie interest upon lier public debt, tlie salaries of her officers, the per diem of her Legislators, the money due the several comities for school purposes, together with nil hor other liabiltit-s. in gold ami silver. Of course the system should go into operation gnul' ally. This, in connection with the prohibition of the circulation 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 mors solid specie basis—making the people more independent of banks, and enabling them to witlisiand tlie shock with much less injury in ease of a commercial.crisis and bank suspension. It is believed tliat noscrious inconvenience could result to the tax payer from such a law, as tiro gold and silver paid into the Treasury by those indebted to tlie State, would he returned by the State in tlie payment of her debts due to her creditors, and would again go into circulation among the people. Should any inconvenience be apprehended in tlie transportion of specie from the treasury to tlie Creditor, provision might be made authorizingcar- tificates of deposite to be issued, which might be paid to tiie creditor at liis request in place of tlie coin. These certificates of deposit might be of such denomination ns the Legislature may pre scribe, handsomely engraved upon steel plates, which plates should be deposited in the Trcasury for safe keeping. Each certificate might be signed by Uic Treasurer and countersigned by the Secre tary of State, with the impression of the great seal of the State stamped upon it, and a register of the issue of each kept in the Treasury to prevent coun terfeit. These certificates might lie made payable to the person to whom they first issued or to bear er. They would supply the place of b-nk bills so far us tiro conveniences of a paper currency are concerned, while they would be subject to none of the fluctuations of value and the uncertainties of bank bills. They would be taken at the op lion only ofthe creditor in place of gold and silver. The gold and silver, dollar for dollar, would, when they were in circulation, remain in the vaults of the Treasury to redeem them when rctnrueil to it. These certificates, thus predicated upon coin iu tho Treasury, dollar for dollar, would be receivable in payment of taxes or of any debt due the State. They w ould be a safe medium of exchange, and would, to the amount of their issue, be a paper currency nt all times convertible into gold and sil ver upon presentation at the Treanurv. Each dol lar of paper would have for its basis a dollar of specie in the Treasury, and ns the faith of the State would pledged for tlicir redemption, it would lie impossible for any citizen to sustain loss upon them. They would be currency at sill times and under all circumstance* of uniform par Talue. This would render tiro gox-ernment of the State entirely independent of all lianks and hank agencies, and would in a very great degree destroy the power of the lianks over the people, whilo it would give the people gold and silver charge in all tlicir small transactions, and a paper currency perfectly secure in many of their larger ones. The suggestions made by tlie Secretary of the Treasury ofthe United States, (Mr. Cobb,) in his late report to Congress upon the subject of the cs- tahlishirtent ofn Sub-Treasury system by the States, similar to that of the United States, and tlie prohi bition ofthe circulation of bank bills nnderthc de nomination of t^'Uty dollars, are, in myjiidgment, founded in wisdom, and commend themselves to tho serious consideration of the Legislature. The State of Ohio has already shown her appreciation ofthe wisdom of these suggestions, by transfering much of their substance to her statute book, al lowing sufficient time for the gradual inauguration of the system into practical operation. tVtSTIBN A ATLAKTIC RAIL ROAD. For a statement of the present condition of tlie Western A Atlantic ltailroad, its operations and in comes for tiie fiscal year ending 3uth September last, j leave t<> refer you to the report of Dr. John VV Lewis, its able and efficient Superintendent, who haashown fiimself a must vigilant, active, and val uable public servant. In pawing thiswel! merited cnnnlimeiit upon tiro faithful .-upormtcncl. pt, I wmfddo injuitice to lus associate officers,and the other agents and employes ofthe Eoad,were 1 to fail b«*st inter»*Nta of tbe Mate. For tbeir efficiency, fi- (It'litT and intf ffritv they bare u»y sincere thanks. a£d2tJ!i« my opinion, enlitlad to the thanka of the abuitf iHM>plt) of . ;i,'i ffv ', Owing- to the commercial pressure, and tho conso- ciueutfitagnati w «>f traJp au.vi b-j^ne>s,th« gru^» ,n- comta ofthe ‘limn? :ha present year, from ! s\in>c h «>nr failure iutho past is attributable to a lack of fuuiliMuul of competent teachers. With the gradual increase of the fund proposed, it is not doubted that the wisdom of onr State would from time to time, improve our present defective system till it would bo so perfected as to afford the advantage* of un tnliicalhwi to all or n* ilv all the freights and travel, have JhVii Ice# th*P tl© for the previous year, Mhicli wavonoof u»iu»ti prosperity. The low price of corn, wheat and r kinds of grain during Oh* preset year, has in a m ..t decree, prevented the shipment. Not only were the prices of wheat mnch lower thap they were tlio^ yt«r previous, bnt tlie quantity lnadein all that section of # —j country which anjqdie* th** Hoad with wwa J children of the State. Let the teachers be paid by inneblear. * I the State, and let eYery free white child in the State Merchants limited ttyeyr purchase* cf goods to the j have an equal right to attend and reeeiv** instruc- limited demand for them in the <*otmtry; hei>«»i*. the I lion in the public schools. Let it be a Common diminution of incomes to the Hoad ou account of j School, not a Poor School System. Let the children freights on merchandize. I ofthe richest and poorest parents in the State, meet That portion of tin* Road track between Tnnnel I iu the school-soom on terms of perfect equality of Hill and Chattanooga, (swren miles excepted) was I right. Let there be no aristocracy tbero out an arv in a -bad condition whim Dr. Lewis took charge of J istucracy of color and of coudoct. In other words, the Hoad, and it has required* great deal of costly I let every free white child in Georgia, whose conduct repair*. A considerable portion ofthe track between | is good, stand upon a u equality of right with any those points has l»een taken np and thoroughly re-1 and every other one in the school-room. In this way paired, and small stoues pounded into the earth un-1 the advantages of education might be gradually dif- aer tho new cro?s ties at several places wherein wet I fused among the people: and muny of the noblest weather the earth is so soft that the Road-bed could I intellect* in Georgia, now bedimmed by poverty and not otherwise be made firm. This kind of repairs is J not developed for want of education, might bo made quite expensive, but is believed to be cheapest in the I to shine forth in all their splendor, blessing both end, as the track in these soft places will remain firm church and state by their noble deeds, when once bedded in stone—The entire track is be- I Should £4,000,000 bo insufficient to r»i*e annually lieved to be in better condition than it has been for I the sum Tequired, the fund might be increased from several years, fa force of about three hundred hands I the incomes of theTiqed, to any amount necessary having Leeu employed in its repair, most of the sum- to accomplish the object. The interest on this fuud raer,) and all the rolling stock is in good order. He-1 should be semi annually distributed equally among pairs have a*so been lately made at Alatooua, Petit's I the counties, In proportion to the whole number of Creek and the Tunnel. ’ I free white children iu each, between six und sixteen Since your last meeting one thousand tons of T I or of such other age as the Legislature may desig iron have been purchased, which has all been paid nate- Authority should also be left with each come for since the 1st day of Januaiy last. This will lay J ty to tax itself, at its own pleasure, to increase its about eleven miles of tho track with new heavy bar. I own school tuud,as at present. And it should he Part of this iron has already been laid down upon I let! to the Inferior Court or school commissioners of the track, and the remainder, now being received, j each couuty, to lay off the bounty into such school will soon belaid down. Other new iron will bepnr- I districts, ns will be most convenient to its nopula chased as fast as it is needed. J tion, having due regard to their number and condi It is a matter of great importance that the Hoad 1 tfon be kept in-gnudorder. For this purpose it in prop-1 . gprcArioit or ttuntr.it er that several mile** of the track at different pla- I *.> CCS uhould be laid with new iron every year; other- r . ., th Jj - uud , ^, ecesllsJ . y to bu ji,i sch( ; ol i, 0 „.* ’ wise the iron on a larae portion of the traeh j *nd nay the teachers to educate all the free white ri> e «“ e t i"? e ’ 1 5 e ,7 u ‘ ru, « * children ofthe State, the next question which pro- V *° replace it. I hold that no administration. I sunfcl jtaeir, perhaps the most important one of Pjvposs of paying loomy into the Treasury j a |j jSj jj ow fc ha]l the elate supply herself with coin- a n 8 ,lt f< ? * et ,h ^ 1 u “ ' 1 ‘ 1 "' 1 - petent teachers ! raised iu her midst and devoted tc -mEr.r 0 !* “ <, ®?cr»'ee to be condemned ■ and l am intere . u and imitations '-Southern gj iT' i. 'r .h »d“ u >*»« r *“oiL so f*r as tiro m»n»se- south( , rll Ilear!s alld 80ut hern sentiments ? j”F° f, , he “ concerned, shall be judged by Kof the purpo , 8 of educating Georgia teachers in IU A-firHanf..,v. „r«i, a I Georgia colleges, I propose that the State issue her , r f l ’?5l ,°^ Il 0 °„S r I bands payable at such distant times as the Leglsla- t! e ^ tur « may designate, bearing interest ot seven per ante 661,1 semi-annually. The interest to be paid {n*thoTVrasur^of 11■'d^aeeord' I tii'be^edeemeif out of its ^rodeeds/ahould sum**©/®!■^3*‘’^ri'creditors^ , ^h!l , Boai?<m a*‘* I bond^toThe StoUrVidveniUy a't Athens as^n^ad* smaller IM*January than' it xvii lM Jffiv and tint “cate annually one young man as a State student, Zimoint iSSS SSnSSMbA a3mZ tiyton, ofthe Hoad, and paid1 byAh, pretest tiuphr- j SShgS^gias^lJag^llSiS^Sa^.lS woab/.eivm'rheref ire tn^'ie ?mblel tn't{!branm ,> nald ‘“‘crest ou this $100,1100 of bonds would be S28.000 I per annum. This sum would maiutain and instruct is iuclLd^ th^cTof 4r« «on* ^th' e new iron a-1 ” Zi r Z. nd . Z?. ?° u .? s.uciuuca inepncB o«oi new irou»- auuually, being one from each county iu the hove mentioned, which w»» ordered by the former I «. t d t ivi> f.on» each of tht* tburtPHn jLinntim commencing will, the month of March last. $200,000. *«* ^^“. '' L hlni fii Z, , "S , Oftbi,«um$173.000had been,-aid in at the date.rfhia STJ 1 i ed as are of goud moral character, industrious ami 1 promise or future usefulness. ThaMhoselectioS be made in eaeh county by a competent committee ap mited to a cumulate which are no promptly paid. illted b the iuferior Court. after an examination month 15 can be found, at the e.m of **cb| fooSe public place iu the county, of all suen young The new passenger depot in Chatanoogais in pro at some public pla«*o wMIP „ nu-ii as desire to become beneficiaries, and who wili attend on a day to be fixed bytlie Interior Court, ceasof construction tinder tho superintendence of „ "i " i ? I the Chief Engineer of the Itoad, with workmen hired Zt.h.vwiMllZcroe, fenraitl n ^et 1 'wi^^'aa’-irriZ''/nd ^ ri.““PW^n^ «‘r.hom prejud^rp^Ii',*: pected^oliifconipietr*^ aild'read'yVornse in a fow ~>i0“ witbomffi^ udwt.ou tothorest of his tarn tlieao i ri, * r Omtof hi=» county, that he is neglecting his n . ^ ^ Z ? ' l l Studies, nr failing to make reasonable progress, or Friburino ’ '^if^SStrs, that he has.bcwme addicted to immoral liibits. I tributlng to its ereenuii, it was thought f propose tliat the State in thU manner, give to each there was great need ofthe depot, for our Hoad to I * f f r V onnff men thus kp!pot^d 1.7« pnllp.rJot#, go on and l.uild it.and take the obligations of the " , on comiTlfon Bwt he will enter into', e^ingltoadsfortheir proportion of expenses ^“‘T.i,ouor?fomae t^hioghii profLionin interea/fo'tlfA^lVi ,n Fn!"il niva *10noo"* *Tb<f^ud ,I|C ' ooau, V fro “ 1 wl ‘‘chhe ia sent, for ns many years v'ZJL “ ' he d ;; p, ' t - fqn.ouo. The Last a3he slia| -[ , lav(J beon InajutHiDBd and educated by xvitli semi-annual interest at the rate of seven "iior i,sa teachca*. ;r cent m r -iiinnin • a-i.l it is believed that tlie I ofthese young gentleuieii would no doubt, a einphis and Ctinrle^’on Itoad will.also take a fourth ^ t ld ‘^gF,h"sVZ iZf^'^.rawUhcompe- I>r! Lewis took charge orthe Itoad Hie 1st day of **>«^hera. And asttoe yung msn, white teach Isi^SsSSSSSi SSSSSSSSESS which existed prior to thattime,' fnd fornecess.rv SfSe^ffiSS^!? uUsSfL" 1 ’?!* ‘' ,0 «,.,Mrea.nZlrom the 1st of ““learn at one school what it ha. taken it months, HK i--* 5 u n . r} .Z,;! perhaps, to learn at another under an incompetent ty-five thou land dollars per mouth. Ii is oeneveb j T ^injplan is intei.ded to equalize, as fur as TMs'LybeVaranfeJiiy some as an over estimate XrfS T dri of the legit iniate net earningato be realized m future , llldlu a ri J,L tion . „ r ^Lohltr gftto tiro colffiges from the road. As au evidence of ita correctness. I ofa<ins , e dolIar oft|le boIlds y tate . ‘'iuffo! have no hesita.1011 in sayin„ that I would riA v I rlld ed only to deliver tlie bonds to tlio colleges and persona fortune ontho result. Mere I t o pay to them the interest semiannually, as a com t were the de.wr*» l* ■rtOatoi’e and p60p 1 , )( . ng!lt j on f or them to maintain and educate annual- part of this plan, I also propose that since the 1st of January last, receiving all sum. ow- I » Gcucraia..perfn.endentof schools, for the State, I driyr b. to bind myselftbat the'presuut l.rice of freight, should 'Z? ST nt no time be increased,if such would mike tlie fregl.ts f‘g,* 0 hieherthin theaverneenrieechanted for freights by . .“• Audio trayerse tlie state in every direction, tlroothsr roads in Georgia; and! xvould pay into ‘hs schools, address the people, and do all in bis tlie treasury ofthe State $23,000 per mouth for the * lve J ’ , “ , crc st Die subject of SlflSfi monthly £«. liad «• h» or in till, bonds which now constitute the funded e b f dr Hi! nf tll^Mntn s. l 'a ? f the debt of the Itoad. for tiro payment of which, ‘h“ p n ^ * 'tfeh Lu“n' B .f r * nd object of primary faith of the State has been pledged for years And japortaueu. which should, it ueeessary, take prece- every time a payment sl.ould bedetoyed twenty- d6 ^^“^'^*»ua of tmg, policy, borl five days after it wss due. I would forfeit and pay ffg^”****” Zrt!a^hT-.“ dm, f t '‘ d byeVery to the State $10,000 for the delay. This would be *»•«»««“» person, that the stabdity and pennanenoo 8300,000 per annum, principal besides interest. And «Pt>“lkemtelh a term of ten vears at these rate*, counting simple I Ke“ce a.oi v.rtue of «mr ncple. Ao monarch rule! intere-t ot seven percent per annum on eachmontii- ° f B overn ly payment from fire time it was paid into the Treas- me » t , ead ! «“*«“ #t , the b “ lklt box, possesses my tiu the esd of tho lease, would yield the sum of jwi#* 1 "Khte of sovereignty with every other one.— $t,0tl,25n, for tlie useoftheroad forth.it time.' TTiauks be to ourllea ve.ilyh at her, t he popular voice Kegarding the question as settled, therefore, that °' es P ! ” , .*f ,n - the road with proper management will pay into the Sax.•** P®)*' 1 ‘J^ J1, j y lt Vj 11 ® Treasury $53.00“ per mouth, or three hundred thous- V JT* '* •*, therefore, that and dollars annually clear of all expenses and re- £/“*““ of he people be educated, so each may pairs, the inquiry naturally arises, what disposition! be “ble to rear! and understand for himself, the con- shall be made of the money ! s'.tut.on and h,«„ry ofh.s country, and to ,udgc end J I decide for hiraselt, what are the true principles and payment of tiie ri Diif DEBT-—common .school I policy of liia government. But bow much more im- system. I portant is it, iu my opinion, that every person in the The Public debt of the State amounts nt present gate be■ enabledito read for himself or heraolf the. , $2,630,50;. payable at diffierent times during the Holy Bible, and to eomprelieud the great principles next twenty years. A large portion of this debt lias Christianity, in the eteroal tnithsot which, I am a been contracted from limeto time on account ofthe firm, though humble, believer. Educate the masses Itoad. This debt it will be remembered, i* subject »“<1 inculcate virtue and morality, and von lay by legislation, already had, to boincreased $300.0 o, broad and deep, in the hearts of onr people, the only on account ofthe Stiite’s subscription for stock in “re foundations ol repub .<•«. liberty and rel.g.ous the Atlantic*and Gulf ltailroad Co. This would folcration ; the latter ol which la the brightest gem make the whole debt $3,530,500, should no part of it I ,u *h$ constitution of ourrountry. be redeemed before She bond, of the State tor the a I |‘y adopting the propoae.l hue of pulley we have it bove mentioned $900,000, shall have been issued. >}>“ our power, without ...crease of taxation or bur By the terms ofthe contract with the bond holders, fie" four people, to place Georgia, so far as educa- $2*9,30(1 of this debt is now subject to be paid at the ‘‘on is concerned, in the proudest position of any option of the State, though payment cannot bo de-1 state in tiro Linou. Let her educate every son aod manded till 1*63 and 186c? the Central Bank bonds d*“ghter within her limits, and she may then justly are also falling due in considerable sums annually, boast that she is the empire state of not only the Good faith requires that the debt* ofthe State be I South, but of the whole Union, lty this plan the promptly met when duo. And sound poliev dictates I P u khc debt would fund thatsucii bond* a* are due or not,at the option ofthe ‘“creased annually, jaW-OnO; aud1 tho interest a- State, be taken up a* fast as she has tho means. mounting yearly to $3$,000 on tho bond* ueliverod Tire nett earnings ofthe U'estem and Atlantic •“ ‘he 'iolfcges, would be paid semi annually, ont of Railroad are already pledged fortho pavinent of a ‘ earmnga of the btate Hoad ; and there would large portion of this debt. I therefore recommend be left an annual income from that source of tiro passage of an act setting apart $200,000 per an I -."M to he applied to other pur|ioses. uum.of the earnings of the Road, to be applied in I nzDO'CTlox or TAXF.S. paymeut and purchase of the public debt. And. in I view of tho great and acknowledged necessity exist- j . Tiro present annual expenses of the Government, ing for the education of the children of the State, I including the civil establishment, the interest on mid ofthe immense advantages which would result b , jc dcbt support of Asylums, Academy for ^ll^h^teuTrri^m inelttdfoo anv he entire amaui t of the public debt, be set apart as I anioant to about . M6, without including any .i permanent t'omown School Fund of Georgia, to be J of the extraordinary appropriations. The present increased as the public debt is diminished; and that I annual incomes to tho Treasury from the State tlie faitb ofthe State be solemnly pledged that nol Tax, the tax on bank stock, railroads, dividends on part of this sum shall over ba applied to, or appro- 5^ gtoc |< an d from other miscellaneous sources, priated for, any other puroosethn.. that of education. , grants, testimonials, ic., amount to Let the act make it the autv of the Governor each { . „ . Aij vaSa *_ ycar noon na be shall have taken untlie €300.0001 about $446,000, cxdusnc of incomes from the of t?UU; bonds to issue able at some distant period t lature. to the Secretary of State r.s trustee of the I outside of the actual expenses Common School Fnnd ot the .State, with semi-annu-1 that the taxes might be reduced from tho incomes al interest at six per cent per annum. The bonds to of the Road about s 5 o,000 per annum besides cs- Fond will be ann -ally increased, until the whole “on of the proposed School system. Should the debt is paid to tho creditors of tin. State, and then- Legislature, however, after providing fortho reduc- inocnt paid converted iuto a School Fund. And as I tion of the publio debt, the support of tho school the fund t* in.-reased from year to year, the amount I system, and tiie education of teachers, make any mount of Interest to be used tor school purpose* considerable appropriations other than those which will be likewise increased. • I ma y be absolutely necessary for the support of the Should this plan be adopted, ina few year* the Government, no'nmterial reduction of the taxes school fund of LeonriA including the present fund I Mu ] d bc niadc In the event the Legislature should disapprove fund, fobs e.-i-roded in erecting schorihouses aud of (he proportion to apply the net earnings of the paying teach'is, wouid bo' $2*u.oou per annum. I Boad to the )iayment of the imblic debt, and to the am aware ot ;iie diliicoltroa which have been en-J education of the children of tiie State, I res|iect- cuunteredby '«ose who have attempted heretofore I fullv recommend that $150,000 per annum, instead to duvise a pr ••tleal and eq^Us^md system for .the 0 y ibout fifty tbonsaud, as above proposed, be ap- State, owingbt ■jTyjsR-? “believed, totha 1!ed j n reduction of the taxes of tlie people 1 ; and iTtd ^plns be used for such purposes of in- fact of our inability to accomplish all we may desire temil improvement a* will tend most to tho devel- ianosnilicii'i tWasou why we sliuulj m gieit to do opment ofthe resources ofthe State. I am that which i» in 'nr powar. Urobably the principal | aware there aro those who object to any roduetion of taxes, believing it necessary, in order to attach the people to the government, to raise large sums of money from them by taxation, to be appropria ted in some way by the Legislature. I take a dif ferent view of this subject, and believe that all un necessary, wasteful, or extravagant appropriations should be avoided ; and tliat no more taxes should be nliscd than the necessities of the State require under an economical administration of the Gov ernment. I cannot believe that the people's love for the government would lie increased by high taxation. When the people were paying increased taxes to build the Western A Atlantic ltailroad, they were told that if they would submit to this, the incomes of the Road, when finished, should be applied, in part, at least, in reduction of their trxes. I think they have a reason to expect, and a right to de mand, tliat these pledges shall bc redeemed ; and I respectfully urge upon you as tbeir representa- tives, the propriety of enacting such laws as will give them the benefits of the" incomes of t! o Road as above suggested. This, in my judgment, would bc iufinitcly better, than to squander the funds in large appropriations of doubtful propriety. If the Iload be faithfully and economically manager', the net earnings paid monthly into tlie Treasury, and applied to educating the youth of the Sutc, the payment of the public debt, nnd the redaction of the taxes of the people, it will then in reality be what it should bc—a blessing to the whole people of Georgia. ATLANTIC AND GCLF RAILROAD. 1 am informed that the work upon the Atlantic and Gulf Railroad is progressing with reasonable rapidity under the management of Dr. James 1’. Screven, its able and active President. Early in the year the necessary evidence was furnished to Die that tlie individual stockholders had paid in twenty per cent upon $600,000 of tho stock, which entitled the Company, under the provisions of the statute, to call for twenty percent 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 deliver ed to the Company at par $100,000 of six per cent State bonds, payable in New York, with coupons attached. The bond3 bear date 1st February, 1858, and have twenty years to run. The interest is payable semi-annually. This Road is intended to develope the resources of a large and interesting section of the State. STATK AID TO RAILROADS. Other sections of the State are still 'destitute of the advantages of Railroad lacilitics. I am decid edly of opinion that it would bc good policy for the'State to lend her credit to aid in the construc tion of such Roads as may bc necessary to devel ope her vast resource*, provided she he made per fectly secure beyond doubt against ultimate loss.— This could bc done by the endorsement of tlie bonds of the company, by the State after a certain portion of the Road is first completed, for an amount sufficient to enable the company to pur chase iron for the road. The bonds thus endorsed should lie made payable twenty years after date, with six per cent interest, payable semi-annually ; and let the State take a mortgage upon the entire Road, and all its appurtenances, declared by law to bc prior to all other liens ; to be foreclosed, and tho road and its appurtenances sold in sixty or ninety days after the failure of the company to pay any instalment of either interest or principal when due. And in the event the whole Road and its appurtenances should fail under snch mortgage sale to bring a sum sufficient to pay the entire priation not having been made. I therefore re commend that an appropriation be made immedi ately, sufficient to pay each Judge whose commis sion bears date since the pnssage of the act, the balance of salary due him. ill view of the sacri fices made by them, the heavy responsibilities in curred and the grent amount of labor 'performed, I am of opinion that no claw pf officers in Georgia have been as poorly paid as our Judges. I there fore regard the. act raising their salaries ns wise and just, and regret only that tlie constitutional prohibition prevented, and still prevents, a portion Of them from receiving its beuefits. I think equali ty 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 st ould re ceive $2,300 .per annum, for liis full term of four years, while one whose commission beam 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. Taking this view of the questions of justice and r ght.be- tween them, 1 felt it my duty to re-appoint guv one who, haring most of a term before him, i bought proper to resign and take lus chances for re-elec tion in Jan’y. next. I see nothing ill thcii course deservin'* censure, and do not hesitate to take my part of the responsibility so far as the re-appoint ments are concerned. I have no sympathies in common with those who vote away thousands and tens of thousands of dol lars of the people’s money In Urge appropriations, often intended by the movers more for the advance ment of individual interests than for the public good, and then attempt to raise a popular clamor should the State do justice to lier public officers, hy giving thorn a reasonable coinpensali m for tlicir services, which is now, in many in* oners, much less thou tlicir talent would command at oth er employment*. One appropriation ol doubtful propriety, about which but little may be said, often draws from tho Treasury more money than all the increase of salaries of all the public officers of the State. In 1841, when the salaries of our . udges were fixed at $1,800 per annum, that amount of money would purchase more property than .‘<2,300 will purchase now. A negro or a horse might then be purchased for bnt little, if any, over half as much as a similar piece of property will com mand in the market now. It follows, therefore, that our Judges and other publio officers are not as well paid now as they were then. Our great State is not too poor, nor too parsimonious to do justice to those who render her important public services; nor is it her policy to drive her bt st ta- ient fioin public positions, to make room for those who will agree to occupy them for less money, srnst'iuntoxs to legal works. amount for which the State shall have become lia blc, on account of the Company, let the law pro vide that each solvent stockholder shall bo liable to the State, according to the number of the shares he may own, for his proportion of the de ficiency. This, in ipy judgment, would make the State secure; while it would enable each company engaged 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 sueli time os would enable the company,should tlie Road prove as remunerative as its projectors anticipated, to refund it out of the future net earn ings of the Road. Of course such a law should be a general one, alike applicable to all Roads iu any >art of the State, in tlie benefits of which nil loads now in process of construction, or to be hereafter projected, on equal and well defined terms, conditions and limitations might partici pate. Guard the State against possibility of loss, and I am decidedly in favor of State aid by lend ing her credit in tbc construction of ail such Roads os may be necessary to the prosperity of her peo ple and the development of her resources. THE GEORGIA PENITENTIARY. The report of Gon. Eli McConell, Principal Keeper of the Penitentiary, will inform you of the present condition of that institution. The walls badly constructed at first have stood a long time, and are now nearly ready to tumble down. The whole structure is in a dilapidated condition, and will require auivu w.. r —» a. t ** 0 ;oia$upsk at its present or some early session. It is a ques tion worthy of your attention whether it should be rebuilt where it is, or be removed to some more favorable location ; or whether it should be entire ly 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 *ogx*.ti«*- «»> af tin worst men in the State, many of whom arc beyond the.hope of reformation. In the midst of such an assemblage the young offender has bnt little en couragement to reform. Observation has shown us that a considerable proportion of those who have served the term of a sentence, have, after going out, very soon violated the law and been sent back for it second, and some oven for a third time. Some of the States, as Alabama and Texas, have leased out their Penitentiaries ; and it is reported that this plan lias worked well in those States and has relieved them from all burdens in maintaining their prisons. I commend tiie whole subject to the careful consideration of the Legislature. THE STATE ASYLUMS. For the condition and management of the State Lunatic Asylum, the Academy for the Blind, and the Asylum for tiie Deaf and Dumb, I beg leave to refer you to the respective reports of those en trusted with their management. These asylums have already done much to improve the condition ami mitigate tlie sufferings of the unfortunate per sons who are their respective inmates. Tho State has been liberal in her appropriations to found and sustain them, and I trust that her liberality may prove a permanent blessing to her people. A recent visit to the Academy for the Blind in Macon, has satisfied me that those in charge of that Institution arc laboring faithfully for the in struction, and the amelioration of the condition of that unfortunate class of our follow beings, for whoso benefit the Academy has been provided.— The new building is being erected, and will, when completed, be a beautiful structure, well adapted to the purpose for which it k intended. I am in formed by the Trustees that they have arranged the plan of the building, and shaped th« contract with tho builJore, no a* to bring the expense of the whole within the appropriation, and that there will bc no call for an additional appropriation to save the State from the loss of the appropriation already 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 State tlie re maining interest of the stockholders, and paid for it as directed by the statute. The whole is there fore the property of the State. I attended the ex amination of the classes at the late commencement and take pleasure in saying that the young gentle men acquitted themselves with much credit both to themselves and the faculty. WEIGHTS AND MEASURES. A largo 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 (he destitute counties for a sup ply, and there arc none at his disposal. It will cost a considerable sum to purchase the requisite number. I recommend, therefore, that an appro priation be made sufficient to supply such of the counties as are destitute of them, and to defray tho expense of tlicir distribution. SALARIES OF THE JUDGES. At your last session an act was passed increasing the salaries of the Judges of the Supreme and Superior Courts of this State; but by some over sight no appropriation is made to pay snch increase those who, nnder the constitution were entitled it, tlie appropriations having been made for the amounts only of those salaries as fixed by previous Uws. One of the Judges of the Supreme Court who was elected at the last session, and two three of the Judges of tho Superior Court, who were elected in JAnjr. last, hold commissions bear ing date since the passage of the act, and are, therefore, clearly entitled to the increased salary. Six of the Judges of the Superior Court, most of whom had each almost a full term to serve, resign ed their offices soon after the adjournment of your last session, and having been rc-appoiritcd by me, now hold commissions bearing date since the pas-,.. , „ . - .- .. . T , . , . • . trustee or in any other capacity, i-ball be engaged iu ■ age ot tlie act. They, as nell as those elected i dr _, w i D j. any luiterv, nr preieuded 1. ttery, or setting since the passage cf the act, are, m my opinion, | lottery Tickets, within this State. ' Tt is time the mrrai clearly entitled to the increased salary; which has I sense'of our people were aroused for the suppression been withheld from them on account of th# appro-1 of this deceptive, fraudulent and demoralizing practise: At your last session, resolutions were passed re questing me to subscribe in behalf of the Sta c for 1500 copies of Ilincs’ Forms, at the price of $2 50 per copy; and tor 500 copies of Reese’s Manual, at a reasonable price, and to pay for them cut of the contingent fund. I subscribed for aud rec ;ived tlie books, and paid Mr. nines $1,000, unci Mr. Reese $500, one third of the price agreed upon for the 500 copies of his book delivered at the Capitol. Ou account of the heavy drafts made upon the con tingent fund to pay other snitts taxed upon it by resolutions of the General Assembly, besides tlie payment of the salary of the Reporter of the De cisions of the Supreme Court, for which no appro priation was made, I found it impossible to pay tlie whole amount due for the books, and to meet the or dinary demands for the payment of which the fund is intended. The balance of $2,750 due Mr. H ues,. and $1,000 due Mr. Reese, remains unpaid. I res pectfully recommend that appropriations bc made in 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 iu our p:na! code. The 8th section of the 4th division of our code is in these words; “Voluntary manslaughter shall bc punishable by confinement and labor in the Penitentiary for a term not less than two years nor longer than four years.” There are doubtless many cases of voluntary manslaughter committed by persons of extremo youth, or attended by other extenuating circumstances, for the punishment of which two years of imprisonment is sufficient- It may often happen, however, from the ingenuity of counsel, the creation of sympathy on account of the long standing of a case, and from other cam es, that persons guilty of "deliberate murder arc con victed only of voluntary manslaughter. The Jui ge who presides in the case may be fully satisfied tliat such is the fact, but he has no power to impos t a heavier penalty than of four years imprisonment. The community feel that tlie punishment is inade quate, but there is no remedy, as the Court l as gone to the extent of tlie law. If we would sup press crime and bloodshed in our State, we must execute the criminal laws, and discard that sickly sentimentality which always sympathises with t ic criminal, but has no tear to shed over the unfor tunate victim of his revenge. I recommend that the section of the penal code above referred to, lie *u a i — ! i.<>gc me discretion given co tiie presiding Judge in cases of Voluntary- Maa- slaughtcr, committed after the passage of the act, so that the punishment shall not bc less than two, nor longer than twenty years, imprisonment and labor in the Penitentiary. I also recommend sueli alteration ill the law ns will compel persons accus ed of criminal offences to come to trial at the ear liest period ii lieu a pair and Impartial Investigate i can bc had. As the law now stands, and is con strued hy our Courts, the worst cases arc often worn out by continuances, from term to term, till sonic of the witnesses die or remove from the State, and others arc almost impoverished by long atten dance upon the Court. After years of delay should it happen, as it frequently docs, that tlie witnesses arejout of tlie way, and tho community have become careless about the case, the accused is thou ready for trial. In this way many of the most blood thirsty and abandoned criminals in the State are permitted to escape, oftca with very light, and some times no punishment at all. If the defendant and his counsel will exercise ordinary diligence in' the preparation of the case, I am satisfied, from years of experience at the bar, and upon the bench, that no reason ekists why a trial should bo delayed in any case, longer than the second term after the finding of the bill of indictment, unless it bc for very special Providential cause. The constitution of Georgia provides tliat all criminal cases “shall be tried in tlie county where the crime was committed.” Since the State has been cut into small counties it may often happen in the most atrocious cases of murder, that a pub lic investigation may be had before the commiting magistrate, or on a first trial before the Superior Court, which from some cause may not be final, in which on account of the excitement in the commu nity the evidence may be detailed in the hearing of nearly all the citizens of the county, subject to jury duty, and at a subsequent term of tlie Court it may therefore bc impossible to get a jury in tbc county competent to try tbc case, and the criminal on that account may escape conviction and punish ment. In view of the happening of such a contin gency, I would most respectfully suggest an altera tion of the constitution, so as to authorize the pre siding Judge, in such cases, when in his oipnion the ends of justice require it, to change the venue and order that the case be transferred to, and tried in any adjoining county which he may designate tho county where the crime was committed to bear the expense of the trial, should it fall upon the county. TAX LAWS. 1 beg leave to invite your attention to the sugges. tions contained in the able report of the Comptroller General, pointing out certain defects in cur present tax laws, and proposing important amendments; also to valuable nnd interesting statistical information appen ded to the Report. By examination of this report il will be seen tost the present tax on bank agencies of tber State* located in this State, is less than the tax on bank capital in this State. This is a discrim ination against our owu banks, which is unjus and re quires further legislation. If any discrimination be tween those agencies and our batiks is made, it should be in favor of the latter. It will also be seen that sev eral of the Railroad Companies in this State whose roads are in successful operation, pay no tax whatever under the present law. Some which pay tax, and oth ers which do not, are exempt by tbeir charters from ever paying a tax of more than one half of one per cent upon tbeir net incomes. I refused my sanction to two bills chartering Railroad Companies at your las* session because the proposed charter* contained this provision. I do not believe the State should ever yield her right to tax to any extent her necessities may re. quire, any and all property within her jurisdictional limits. Should ii ever become necessary on account of invasion or oiher public calamity, greatly toincrease the revenue of the State, I can see no good reasons why millions of property belonging to wealthy corpo rations within her borders, should by impruaent and partial legislation, be exempted from bearing a just proportion of the public burdens, by being subjected to a nominal tax only. And if there ever was any rea son for granting such exemption* iu the past, that rea son no longer exists, since the building of railroad* in our State b.is ceased to be au experiment. Therefore. I think such exemptions from taxation should not extended orencouraged by future legislation. Bnt as the public exigencies do not require high taxation at present, and as several oi the most wealthy Railroad Companies in the Slate hare in tbeir charters the pro visions before mentioned, I recommend that tho tax for the present on a 1 ! the companies in the .Stale be made nnitbroi, and that each lie required to pay a tax of one half of one per cent on its net incomes;'to be paid into the treasury each year without c >*t to the State. 1 also recommend that'a heavy tax be imposed upon each aud every person who as’commissioner, agent, which en courage* among the people a spirit of hazzaid end garobliug* depriving them of large sums of tnon or every year, which too often bring* distress npon helpiets women and children ; while it pampers idle drones in society, who neither labor nor produce any thing, bnt who grow rich by the credulity und misfor- tu ms of others. TDE MILITARY STSTEM. The attentiou of the legislature has again, and again, been called Jo onr defective Military syaleni, and to the great neglect to perform Military duty in the State. I doubt whether any recommendation which I could add would be of any service. ^ At your lastaessiou, the usual appropriation fur Military pur poses wa» withheld; and utter this decision by the legislature, l did not fcel it my duty, to order a rigid enforcement of tha military laws. Tho time may- come however wheu wc will have cause to deplore our present inactivity and lack of discipline nnd military spirit. Tits norxDAar Lixr-iienvEEN ororsia and Florida. Tbo Resolutions passed at your lost session in refer ence to the boundary question betwsen the State-of Georgia and the State of Florida, were communicated bv me to the Governor of that State, soon after your adjournment, 1 received from bis Excellency, assu rances of his desire for an early aod amicable adjust ment of tbe difficulty, with a promise to lay the reso lutions before tbe legislature of that State at its Dcxt session. INDEX TO Till RSCORn OF PLATO. . The index to the record of plats of lands granted under tho law of head rights, had been kept up in the Surveyor General’s office, from 1837 to 182S, in a very- large volume; which ia riow in a very mutilated con. dition. There ia no Index'dpi lls iisued since lb2‘J. This is not tho fault of the present laborious and faith ful officer, who has charge of that department; • ns his predecessor* for uearlr SO years had tailed to keep tip tho index. Relieving it a matter of importance tliat <l.o Ur g , number of Cooks containing Itif * *■•*? rortant records, bc indexed to the present time, I em ployed Maj. H. J. G. Williams, an excellent clerk ot great exactness iu comparing the reemds, and of labor ious ie.rarcli, to copy the mutilated inuex-Bock; sup plying it wherever lost from tbe original reeords p end lo'extend it from IS2J to the present" time* When completed the whole wilt make two common size yol- unu’S. I presnme there can be nodifferenceot opinion as to the propriety of preserving tho public records in good condition. "I recommend the passage of an act authorizing the Governor to draw his warrant- upor. the Treasury*, for a sum sufficient to pay for the work when completed, and that three suitable person* be appointed to examine the work, and report its vatue to tbe Executive. . • THE AGRlCC.-TLItAL INTERESTS. While the State has made appropriations, from time to time for clearing out rirers constructing railroads, and for the encouragement of commerce and other pur suits, it is much to be regretted, that solillle has been done to encourage her great agricultural interesLv-rup ■ on which almost every other daaa is dependent for as sistance and support. No other occupation is more useful than agriculture. NodasamorebonorableHian our farmers, wbo, as a class, are honest and patriotic. They bear without a murmur their full share Of the burdens of tbo Government. Why then should they be longer denied tbeir share in its benefits! * *“““ cordially co-operate with the General Assembly in anv and all legislation, which will promote this great and vital interest. In this connection wo should not for get the necessity which exists for the development of our great mineral resources. I trust the Legislature will authorize the appointment of n suitable Oeotogtst and Chemist, to make s geological survey of tbc State, and a chemical analysis of the soil in diuereotsections so as to developo tho mineral ivealth rf tho btate. and to determine the productions to which each .kind ot soil l» best suited. ... Many ot the most intelligent and useful citizens ef our State, devoted to her great agricultural and me chanical pursuits, nre taking mucu int west in our ag ricultorsl fairs. The object of these exhibitions. Is to bring together as much as possible of tbe intelligence of tiro Slate in council, for tbr purpose ot devising tlio best means for tbe advancement of agriculture, me chanic*, Ac. By awarding premiums, a generous ri valry Is encouraged, which often causes valuable i‘"- pmovements, and leads to very useful discoveries. 1 be ladies contribute much to the interest of these oc»- sions, by their presence, and tbe exhibition of magnifi cent specimens of their handiwork. The fine arts are encouraged here. At these exhibitions, planters, and mechanics from different sections of the State are brought together, aud valuable improvement* made in one section become known to ail. Tbe fair grounds at Atlanta, where the meetings for the whole State arc held, are in o bad condition. I am informed that sev eral ot the States hare made liberal appropriations to encourage these exhibition*. 1 think it good policy. I therefore recommend an appropriation sufficient to put t ie State fair grounds in good order, and to erect the necessary buildings; and that a small annual ap propriation be made to keep up tbe exhibitions, in case tlie incomes of the society should be insufficient. I think the farmers and mechanics have a light to de mand at least these small sums. REPORT OF SENATE COMMITTEE ON W. A A. U. R, The Committee appointed by the Senate at your last Session, to investigate the affiiirs of the Western ft Atlantic Railroad, have made their report to me, as direced by tbe resolution of the .Senate, with the-re- quest that I hare it published ih pamphlet form. Iu cimpliance wjjh their request I have had 5,000 copies printed for distribution. Any number of the printed c piea which may be dea : red by the General Assembly, or by the members for distribution among their con stituent*, will be furnished on application at tbe Exec utive office. I mntidb ***<■> —->'i* *mmuUm iu tbeir re commendation, to place the defaulting agents upon tbe road on the same footing w.th the tax collectors, so far as to authorize the Comptroller General to issueexecu- tions against each and every defaulter, and his securi ties, who docs not within a reasonable time after de mand, pay into tbe Treasury ol the Road tho aunt due by him—with authority to collect 30 per cent on tbo principal from tbe time ofthe demand and refusal till paid. Legislation making tbe books of tbe Road legal evidence on the trial of cases in Court against default ing agents, has long been needed. The Committee were in session 50 days. Their task was a very laborious and responsible one. They have received no compensation for tbeir services. I advanced from the contingent fund an amount, only sufficient to pay their actual expenics. It is proper that an appropriation be made sufficient to compensate them liberally for the services rendered. TIIE FINANCIAL CONDITION OF TOR STATE. For a statement of tbc condition of the Treasury, I refer you to the report of Col. John B. Trippe, the vigilant and trustworthy officer wbo presides over that, department. As Georgians, wo have much {reason to bc proud of tho financial condition of our State, aud ot her high character abroad. Probably the bonds of do oilier Btate iu the Union are more current, or com mand a higher price in the market.. Her people enter tain u sense ot honor that will never permit a stain to rent wpowlror proud eacntcheon and they will See that her high character is maintained. In cosaidenlinn of her ability to pay, it may justly be said, that Tier public debt is little inure than nominal. Without re- lerence to any other of her great resources, tho Wes tern ft Atlantic Railroad will, in my opinion, command from eight to ten millions of dollars in the market, hy dro time tbe last instalment of the public debt is due. Tbe whole does not amount to half tbe sum, and may, in a few years, be extinguished from the incomes of the Rood alone. The State with from one to two millions of inhabi tants, a large territory, a salubrious climate, immense mineral wealth, vast agricultural resources, and au ex tensive system of internal improvements, may then bc out of-debt, and in possession of ten million dollars worih of State property. And by the exercise-of a little prudence and forecast in her legislation, she may * also have a common school fund as large, and a wand- £ ard of education as high as any State iu tha Uoiok- This ia no fancy sketch. It ia a conclusion drawn from bet*. But I must turn from these proud antici pations of the future greatness of our State, with the Repression of the ardent hope, that they may be much wore than realized. In closing this communication, I desire to join with the Generaf Assembly io returning sincere thanks to Almighty God, for the abundant mercies and rich blessings, which have been poured out upon ottr be loved State since we separated. There have been no lack of provisions in tbe knd. The laborer of every class, has been able to supply bis necessities by the fruits of his labor. Tlie barns of tie husbandman teem with plenty tor. both man and beast; nnd with foe exception of the visitation of yel low fever, npon the kind snd hospitable inhabitants of o tr beautiful seaport city, Savannah, which lorn haj - p.r to say, has been less deewnctive than at former periods, though it has deprived her of some very valu able lives, (to tho bereaved I tender my aineere c<md«- le ice,) yet it may be said as truly as in any former ytar, that the devottrer has been rebuked, and tbe pes tilence which walketh io darkness has been stay til; while the Holy Spirit has been punred out, iu many parts of our Btate, in more cop ions shower* than in tot mer years, causing the Christian "a heart to leap with joi, and sing for gladness. "] earnestly invoke a continuation of these rich bless ing a upon the people of our beloved _ State; and trust they may never be unmindful of their constant depen dence upon Him, at whose bidding, States and Em pires, are created and destroyed. JOSEPH E. BROWN. Ttac Jlavanu JLsizercttOM. Some horrible statements arc made concerning the secrets of the Havana lazarettos. It is des- criltod, on good authority, that fever patients have been heard to implore their attendants, in piteous tones, not to put them into their\roffin* unti l they were dead ! The captain of a ve.se! belonging to Maine, who contracted for hospital treatment by the job, was himself made a vic tim to tliis system in the month of August last . The mate of’a vessel now lying at Quarantine was in, the hospital at the same time, and next to him, and lie was ready to swear that this cap-. tain was taken from his ward in the hospital, and •arried to the dead house, some four hours heroic ho died. Ho was heard by a patient, as lie w is being carried out of the door hy the ne groes employedforthe purpose, to ask them where) carrying him. JIc was left in this condition in tlie 3 tad house, where in his ravings he tore the othis* from liis body, anti batter, j the (!. -it ot! elcnfljed ii-t~ nrainst the wall. Snell facts are latest too hon-ilfc for belief, hut the veracious :tt i . f tin captains w ho li.-n ■ • u-!••'! te iii orination leave no room to doubt (lie state- nieutr