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BENNETT & SMITH, PROPRIETORS. VOL. VII. Slffuirs nf tjit Itatf. GOV. JOHNSON’S MESSAGE. EXECUTIVE DEPARTMENT, j MII.LEDGEVII.LE, Nov. G, 1855. J fallow Citizens of the Senate and House of Representatives : Yotl It life assembled. as the representatives of the people, to review the administration ] of the State Government, for the last two \ years, atul to enact such laws as your wiR- 1 dom may dictate, to be necessary for the i promotion of the public welfare. You meet! under circumstances well calculated to awa- ; keu gratitude to Heaven. For although the j previous year was one of drought and com parative scarcity, and memorable for the melancholy ravages of Yellow Fever upon our principal seaport city, yet, the tempora rv frowu of Providence has passed away, and again we bask in his beneficent smiles. — Peace, health anu prosperity reign through out our borders; we still enjoy the blessings of civil and religious liberty; all things combine to provoke us to that righteousness which <> cxhalteth a nation” I herewith submit the report of the Treas urer, exhibiting fully the operations of his Department, for the last two fiscal years, ending on the 20th of October. It appears ; that there was at that date, an available balance in the Treasury of $00,793 21. The Western & Atlantic Rail Road paid into the Treasury, in 1854, the sum of $50,- 000. There was also collected from the Federal Government, on account of Military claims, $11,331.79. In 1855 and prior to the Ist of October, the W. & A. It li paid in the further sum of SIOO,OOO 00. The Treasurer also received on account of the sale of the reverted lands in the Cherokee region, sold under an act of the last Legis lature, the sum of $19,362 01. From the sale of the State's interest in lands on the Chattahoochee, under an act of the last ses sion, he received the further sum of $1,993,- 11. Hence, for the two fiscal years, the Treasury has received the aggregate sum of $lB2 027.49, from extraordinary sources, not anticipated by the last Legislature, in the estimate cf revenue. The aggregate receipts of the Treasury, from ordinary souices, for the two years, was $930,244.03; and the actual aggregate of disbursements, for the same time, was $940,874 97 : showing that there would have been a deficit, without the receipts from these extraordinary sources, of $15,730 94. Now, the act of the 24th of December, 1845, creates a lien upon the W. k A. It. It., nnd its nett earnings for tlse re demption of the Bonds, amounting to $125,- 500 00, which it authorised to be issued for the extension of that work. They fall due in July and December, 1850. But seeing that a deficit in the Treasury to meet the demands upon it, must necessarily occur; finding it also impracticable to call in these Bonds, except to the amount of $19,500, and feeling [perfectly confident that the future proceeds of the Road will be amply sufficient to meet the balance of $106,000 00, before or at maturity, I directed the Treasurer to ; carry the monies paid iu, from that source, into the general fund, use them iu the pay ment of the public Debt and interest, and the regular operations of the Treasury. The Committee of Finance on the state of the Treasury, &c., called my attention to the immense item of expenses for the services of Clerks in both branches of the General Assembly. 1 have investigated this subject, by actual examination of the President’s and Speaker's Warrants from 1833, down to the present time, including the last session. The aggregate expenses of the two Houses, per Session, on this score, from 1833 down to the session of 1849-50, ranged from $4,290 to $8,833: the latter sum being the largest ex expenditure of any one session during that period. For the session of 1849-50, the ex pense for Clerks’ hire of the two Houses was $18,286.00: for 1851-2, it was $17,212.00, and for 1858-4, it was $33 156 00. The enormous expenditure of the three last Ses sions of the Legislature evince extravagance and call for retrenchment and reform. Looking at the large liabilities of the W. & A. It. It. to mature in 1856, and the heavy ‘ demands upon its receipts, to perfect its equipment, 1 submit, that it will be wise to adhere to the policy of raising, by taxation, the amount necessary to defray the expenses of the Government, and meet the ordinary drafts upon the Treasury. The nett earn ings of the Roau should be faithfully applied to the extinguishment of the large public i debt created for its construction; taxation i should furnish the revenue until that shall | have been accomplished. I shall not- enter into a discussion of the I principle upon which the tax Bhould be lev ied. Iho ad valorem is the only correct i principle. It may now, I trust, be consid | ered as the fixed policy of Georgia; for it , has vindicated itself by experiment, and the I public mind is satisfied of its wisdom. The , eil 'Ung system may need amendment, in its details, but you should adhere to the princi ple on which it is based. On the 20th of October last, the publie Debt, including the 6 per cent, bonds issued for the payment of claims against tho State, on account of the Darien Bank, was $2 644 - 222.22. Since the action of the last Legis lature, the Central Bank 7 percent bonds are considered as part of the public Debt,; and consequently the balance outstanding, amounting to $296,000, are embraced iu this estimate. I refer you to the report of tho Treasurer, nnd to the accompanying << Re port of the Finance Committee on the state of the Treasury, &o.” far tabular statements of tho amount of the bonds which constitute the State Debt, their rate of interest, when and where payable, slid the payments made during the two past financial years. The credit of the State is now good—a source of congratulation to every Georgian. It should not only be preserved, but every means adopted to increase and strengthen it. It is remarkable that the Bonds of Georgia command a less price than the bonds of other States that owe a much larger debt. This is a fact which should arrest the atten tion of the Legislature. I apprehend that, upon examination, the reason will be found to be, that our Bonds are mainly payable in Augusta, Savannah, and at the Treasury. This is true of all the issues, except those of July the Ist, 1852, and these'aiitOunt to but $525,000, payable in New York. They were negotiated for a premium of five per cent, while the issues, under the act of December 4th, 1851, the interest of which is payable semi-annually in Savannah, were negotiated at an average premium of but two per cent. Tliis furnishes a striking illustration of the advantage of making our State bonds paya ble in New York. This is the great com mercial emporium of the Union, aud thither capital flows, from all points to seek invest ment. Hence, as a means of appreciating the credit of the State, I recommend the Legislature to authorize the calling in of all the State bonds, including the Ceutral bank 7 per cents, not payable in New York, and the issuing of others, in their stead of simi lar tenor, dates and amourts respectively, payable at that point. It will also impart simplicity and uniformity to the operations of the Treasury. By an act of the Inst Legislature, approv ed the 17tli of February, 1854, I was direct ed to issue State bonds, in lieu of the out standing bonds of the Central Bank. It was impossible to effect the arrangement contem plated by a literal exchange of bonds. The intevest on the new, was limited to six, whereas the old Central Bank bonds sought to be called in, bore 7 per cent. Os course the holders would not receive the former, in lieu of ilie latter. That act also required the issue of new bonds, in lieu of certain other bonds of this State, printed on inferior paper, mutilated, and of inconvenient, amounts. The holders of these bonds, with one exception, have not applied for the benefit of the act; and there fore, it was not deemed expedient to incur the expense of anew engraving. By adopt ing the policy above reeoimnended, both ob jects of the Act will be accomplished, and contribute much to the public good, since it will form a ['art of the plan for simplifying the State debt and appreciating its credit. Under the act of 24th of December, 1845, k to extend the Western & Atlantic Rail Hoad, and to provide means therefor,” 0 per cent, bonds were issued to the amount of $125,500 00 signed by the Governor and countersigned by the then Chief Engineer, and payable ten years after date. They were issued on the Ist of December and July, 1846, and consequently, fall due the Ist of December and July, 1856. In anticipation of their maturity, $19,500 00 of the Bonds have been paid, leaving a balance of $106,- 000.00 unpaid. The Act referred to gives to the holders of these bonds a paramount lien upon the Road and its nett earnings, for their redemption. Hence, the clean receipts of the Road must be appropriated to the sat isfaction of these liabilities; and there is no doubt, but they will be amply sufficient to meet them all before or at maturity. After that, they may be used in any manner the Legislature may direct. Therefore, if the amount necessary for the administration of the Government, be authorized to be raised by taxation, as recommended in another part of this communication, thenall the nett receipts of the W. & A. R. It. should be ap propriated to the payment of the public debt. There is obvious propriety in this pol icy. Most of the debt was created for the construction of the Road, and it is therefore proper, that it should first discharge its lia bilities to the State. Asa large portion of the public debt will fall due at the same time, the Executive should be clothed with discretion to make such application of the money, derived from that source, as will avoid the embarrassment which such heavy maturities must produce I therefore re spectfully submit, thnt, after the payment of these bonds and reserving enough from time to time, to meet its liabilities proper, as they may fall due, the nett earnings of the State road should constitute a Sinking Fund, purposely set apart for the purpose indicated. I herewith submit the two annual reports of the Superintendent of the W. & A. It It , exhibiting its operations for the fiscal j'ears 1854 and 1855 They show a steady nnd highly encouraging increase of its business j aud a commendable curtailment of its ex- j peuditures. As these documents furnish all the data for the fornintiou of a correct opin- j ion as to what should be the future policy j of the road, so far as relates to the regula- i tion of its tariff of freights, I shall indulge in no speculations upon thnt subject; but leave it, in all its bearings, to the wisdom of the Legislature. It is one of great moment, aad can only be correctly settled by facts, its connection with other roads, aud tho light of experience. If you design it to be a pay ing road, then the policy obviously is, to adjust its freight schedule, in reference to its connection with others. If j'ou are con tent, that it shall be kept up mainly for the accommodation of the section through which ] R runs, and ns tho means of affording the ! ow > with facilities lor procuring the pro ducts of the up-country, without spccinl reference to profit, then it may be treated and conducted as an independent work. The j roatl is tbe peoples’ property, constructed for J their common benefit, and therefore, it is 8 Edftiill, ffctospiipei-—heboicO to ?Dfioi);il f|i]o Styfe politics, JLiiehpuhs, ifie Hilt-Ms, fol-eip wd Sotiicstic Ketos, &c. CA.SSVTTDLE, GA., THURSDAY, ISTOYU 15, 1855. peculiarly appropriate for you, ns their rep resentatives, to prescribe the line of policy to bo pursued. Nor is it necessary to discuss the various plans suggested for its future management. Some insist, that it should be sold, either in part or in whole, so ns to sever its ownership from the State, or to give its control to pri vate individuals. Others urge that it should be leased for a term of j'ears. These prop ositions were discussed by my immediate predecessor, and considered by the last Leg islature. They have also, in the mean time engaged the populi r mind, to a considerable extent, and you are doubtless prepared to represent correctly, by your action, the pub lic sentiment. Another mode proposed is, to place its management in the hands of a Board, composed of three Commissioners, to be chosen by the people. I refer to these propositions to demonstrate what, I believe to be indispensable to meet the expectations of the people of the whole State, and that is, the necessity of removing its administration beyond the arena of politics— of taking it from Executive control—of making it inde pendent of party influences However widely different these varied propositions are, they afford conclusive evidence of the restlessness of the popular mind on the subject. The sentimeut is all pervading, and is manifest ed iu a thousand forms, that this is expected aud demanded at your hands. How it shall be done, is the question for your wisdom. I have no hesitation in expressing the firm belief, that it were better to adopt any one of these propositions, than to permit the road to be managed under the present mode of its organization. The idea of this vast capital being subjected to the fluctuations of party politics—-confided to agents, who, as a general rule, will be changed every two years, in obedience to the utterances of the ballot box, is preposterous and ridiculous iu the extreme. It is only rail road men who understand the conduct of these great works. Politicians, who aspire to Gubernatorial honors, know but little, if anything, about, it.. How absurd, therefore, to place the Ex ecutive at the head of the road —inexperi enced and therefore disqualified—and expect him to manage it with skill and success? How unjust to him how hazardous to the interest of the people, to saddle him with so heovy a responsibility. Without disparage ment to predecessors, it is believed that the road has never been better managed, than it has been during the lust two years. Econ omy arid punctuality, in every department, have been enforced—not a dollar lost by de falcation, not a dollar recovered in litigation for damages which accrued within that pe riod, —hut few and slight disasters from running off or collisions of trains—nnd yet the dissatisfaction anti complaint, in certain quarters, are deep and loud. All, all are demonstrating that the policy of severing it from Executive control, is absolutely imper ative. I respectfully urge the Legislature to do it. Under the resolution of the last Legisla ture, for that purpose, I appointed the lion. John D Stcll a Commissioner, “ to proceed to tiie State of Tennessee, to procure the re peal of the law of that State, which subjects the W & A 11. 11. to suits in her Courts, and to fix upon such terms of negotiation and reciprocity, as shall be acceptable to both States ” As the result of his mission, I herewith submit the Message of the Gov ernor of Tennessee, and the action of her Legislature upon the subject You will per ceive that they, by Resolution, authorized him to . appoint a Commissioner learned in the law, whose duty it shall he to confer with the Commissioner appointed by the Governor of Georgia, either here (in Nash ville) or in the State of Georgia-, upon the subject of the intercourse by rail road be tween the two States, with instructions to report to the General Assembly of this State (Tennessee) all the legislative action that has been had by the two States in reference to tliis matter, and also wliat further legis lation, if any, is necessary to preserve the rights of the citizens of Tennessee, and to maintain our friendly relations.’* After Mr. Stell returned, lie surrendered his Com- ; mission, and I appointed Win. K DeGraffen reid, Esq., in his stead, to complete the negotiation. The Governor of Tennessee ap pointed James A. Whitesides, Esq., under the resolution above quoted. These two gen tlemen have had a meeting, but liuding that the question of the jurisdiction of the courts of Tennessee ovor the W & A. It. R. was made in the McClung case, then pending be fore her highest judicial tribunal, they con sidered it most prudent and respectful to ; await the decision, before proceeding with the negotiation ; for the court might deter mine the question in our favor, aud thus end all trouble on this score. But our hope of so gratifying a result has failed. I under stand the Court has decided against us.— Hence, if ro satisfactory adjustment betweau the two States can be effected by negotiation, it will devolve upon you to determine the course to be adopted. A lease or sale of that portion of the road which is within the limits of Tennessee, would seem to suggest itself as the most natural remedy. I refer you to the report of the principal i keeper for the operations of the Penitentia ry. The statement exhibits its present financial condition -on the Ist of Got., last: To Notes and Accounts, $23,27(5.03 I Os which nrc considered | had and doubtful, $2,702.27 $20,573.76 a8b * $2,807.80 $23,381.06 ! And the liabilities arc: Due Officers and Guard, $7,590.89 “ Indi’ls, In’spr’s De’t 8,483.32 “ do B’k K’p’s“ 504.95 $16,579.16 Resources over and above Liubili | tics, collectable, $6,802.40 “PRINCIPLES-'NOT MEN.” To which add: Manufactured articles in B. K’s Dept., $6,747.90 Material on hand, P’l K’s Dept., $10,257.91 $17,005.81 $23,808.21 Hence, it nppears to have been managed with quite ns much nbilty and success, as under previous administrations. Still, I feel constrained to sav, what its whole his tory confirms, that it has, to a great extent, proved to he a failure. A brief glance at the causes, will point out the remedy. It is the duty of the Legislature to apply it promptly. The original design of the institut’on was two-fold : Ist, to substitute efficient punish ment for crime, propet ly adjusted to its demerit, for the gallows, in the higher, and the application of the pillory and whipping post to the lower, grades of offences: 2ndly, by connecting labor with confinement, to make it a self-sustaining system. The first object has been so far accomplished only, as to dispense with these engines of cruelty and barbarism. But the Penitentiary has failed to answer the great euds of punish ment— reforming the criminal and deterring others from crime. It never can answer these purposes under its present organiza tion. From the utter impossibility of pre venting inter-communication between the convicts, aud the absence of all classification of them, according to the moral character of their respective offences, the hope of refor mation is unavailing—is vain and futile. It is rather a school, in which the villain learns to be more abdurata in liis depravity, and lie who is imprisoned for an offence, not in volving the darker shades of turpitude, loses the little self-respect remaining to him, by the necessary contact with his associates, and is thus ultimately robbed es this last trait of human redemption. The exceptions to this general remark, few aud far between, confirm its truth. Hence, the Penitentiary ceases, to a great extent, to be a terror to evil doers. It also fails to answer the other object of punishment—that of deterring oth ers from violating the laws of the laud. The loss of personal liberty, of the sweets of so cial life, and the necessity for constant toil and restraint upon the passions, should con stitute the terrors of imprisonment. But organized as it is, how feeble aud impoteut are these sanctions, under our system of Penitentiary confinement! It has most signally failed to accomplish the second design of its formation—that of being a self-sustaining system. The proof of this is found in the large appropriations, which the Legislature have been compelled, at almost every session, to make for its sup port. There are palpable causes--causes that meet the eye of the most superficial ob server—which render it impossible for it to pay its own expenses. Its wall encloses on ly about two acres of ground ; is it to be ex pected, that one hundred and seventy-live men can he employed profitably, upon so small an arena, in which it is impracticable to diversify labor. It is located where ma terials for manufacturing cannot he obtained, without the payment of ruinous prices. The question then arises, what is the rem edy ? Remove it to another region of the State. Construct it upon a plan sufficient ly capacious to meet all the conditions re quired. So arrange its apartments as to classify the convicts, according to the moral character of their offences, and to secure ab solute prohibition of all social intercourse among them. Loca‘e it at a point where material of all kinds can be procured cheap ly, nnd build it of stone and iron. Now is a most favorable time to apply this indispensable remedy. The present wall, aud buildings are all dilapidated and totter ing, and they offer hourly temptation to the devouring element. Something must be done now. The present structures are inca pable of such repairs as will render them suitable for the purposes desired. The whole concern must be rebuilt, if you intend to continue the institution and to make it what it ought to be- By removal, you can remedy another great 1 evil. You can locate it at a point, at which, heavy operations in iron and stoDe may furnish employment for the convicts, and thus dispense with the common branches of the mechanic arts. On this score the pros- j ent system is most detrimental. So far from j retarding, the State should so shape her pol icy, as to encourage industrious and honest men to engage in them. But what is the effect of the present Penitentiary system ? It degrades them, by turning loose annual ly a corps of graduated villains, half skill ed aud too depraved, in most instances, to perform according to their ability, who will work at reduced prices, and thus meet the honest mechanic with ruinous competition.— In arranging a system of Penitentiary la bor, this reform should not be disregarded ; but, situated as the institution now is, it isj impracticable. In submitting this subject to your conside ration, your ntttcntion is directed to tliei suggestions, under this head, in the Report] of the i.Finance Committee on the Stato of the Treasury, &c and the Report of the I principal Keeper. If we look to the geographical position of iho State, it is not singular, that she hits’ taken the lend of her Southern sisters, in works of Internal Improvement. She occu pies tho gap between the Southern spur of the Alleghany mountains and the Atlantic nnd is therefore tho portal through which tho travel nnd products of the groat Tal lies of the West must find their transit to the highway of nations.” Such a position fixes upon her a heavy, but glorious respon sibility, involving a mission for the future, worthy the most comprehensive grasp of en lightened statesmanship. On the other hand her varied aud inexhaustible mineral aud agricultural resources, afford a perpetual stimulus and prompt to constant efforts to secure the means of their development.— These considerations create a twofold obli gation upon the Legislature ; the one, to ad jacent States—the other, to her own vast in ternal interests. Hence, to comprehend ful ly their legitimate scope of act on, the legis lature should assume a lofty stand point from which they can survey the whole field. Holding in her hand tiie key which opens the Atlantic to the West, the State should so use her power, as to force, by a compul sion mutually advantageous, the travel and produce which seek the ship, to become tri butary to her own wealth, prosperity and greatness. Looking to this, ns the light to guide her general policy, she should like wise, ns the proximate motive of action, keep in view the development of her natural re sources, and the advancement of the people, in nil the elements of the highest and beat civilization. Hence, the paramount necessi ty of well defined and well regulated system , in our scheme of Internal Improvements.— It does not follow, that a charter for a rail road must be grunted, as a matter of course when asked. An enlightened legislature comprehending fully the system, its design, and what is best calculated te advance the general welfare, will inquire whether the charter asked, is in harmony with that sys tem, what will be the bearing of its connex ions without the State, what its effect in de veloping our resources, and what its rela tion to other works under which large inter ests have become, or are likely to become, involved and vested ? The system in Geor gia. though iu its infancy, is yt sufficiently advanced to indicate the ultimate shape which it is likely to assume. On her eas tern border she has three points, which have formed and are seeking to form connexions with the various sections, internal and ex ternal, whose productions will foster their growth and prosperity. These points are Augusta, Savannah and Brunswick. The two former are connected by Roads comple ted, with Tennessee and Alabama; and the latter possessing a harbor, unsurpassed by any on the Atlantic coasts, south of the Chesapeake and flanked by an extensive ter ritory, covered by the best pine field in the world, aud of wonderful agricultural fertil ity, seeks connection with the vast region that skirts the Gulf of Mexico. In a word, th ese three cities form the basis of our sys tem, and the lines through the State which connect or propose to connect them, with her own great divisions, and exhaustless feeders without, constitute its frame-work or skele ton. Its symmetrica 1 completion should both define and limit the policy of Legisla tive action. It will be most speedily accom plished by private capital aided by the loan of State credit. Such charters, and such on ly, as may be required for necessary inter mediate connections and facilities, should be granted, to fill out the system ; and these should be constructed by unaided private capital. But to complete the skeleton of the system, so as to extend an arm into each of the grand geographical sections or divisions of the Statu, she may, with propriety and wisdom, lend her credit, under securities and gurantces, which will place her beyond the contingeucy of ultimate liability and loss. To that extent the Legislature may go ; but to that extent only should it go, and with well considered caution and well guar ded prudence. The direct appropriation of money or sub scription for stock, by the State, to aid in the constuetiou of rail roads, is considered [ to be unwise and inexpedient Its tendtney is to emasculate private enterprise, by re- , moving the necessity of self reliance. It; will complicate the State with individual in- j tcrests, which experience teaches to be dan- i gerous to the public welfare. It will in- I crease the State debt, and consequently ere- ] ate a necessity for burdensome taxation, j The construction of the Western & Atlantic Kail Road, by the State, is regarded, both ns a precedent and an argument in favor of di rect appropriations, in aid of internal iui provemenUs. Rut it ceases to be forcible, in either point of view, when we consider the circumstances which prompted thatmagniti cent project. At that time, there was not a rail road in Georgia. Private capital re fused to be thus invested, because experi nunt had shown either the practicability or profitableness of such works. Resides,the region which it penetrates, though abound ing in agriculture and mineral fertility is mountainous and difficult of access It was socially and physically severed from the lower region ot the State and advan tageous markets for the products of its in dustry. On the one hand, rail road enter prise needed the stimulus of example; and on the other, the North West was incapable of devolopmcnt by private capital. Hence, tho State embarked in the enterprise ; and if no other advantage shall ever be realized.the enhanced value of t he lands of Cherkee Geor gia amply remunerates the State for the out lay, and vindicates the farsighted wisdom of its projectors. The justification of tho State was the necessity of the ease; hut where tlie necessity does not exist the reason for the policy does not obtain. But viewed in anothor light, the building of the Western & Atlantic Rail Road by the State doe* furnish a sound reason why oth er scctious may ask, witli propriety, her fos tering aid, iu the form of a loan of her cred it. That work cost not less than ftfi.OOO,- 000. Tho region through which it runs was then very sparsely populated and con sequently contributed a comparatively small portion of the expenses of its construction. Middle and Southern Georgia bore the tax; TWO DO LEAKS A-YEAR, IN ADVANCE. they bore it generously and patrotically. It is therefore, not arrogant nor unreason a ble to ask, in return, such aid from the State, as develope other sections and bring them within roach of advantageous markets The request would come with the force of an appeal to the magnanimity of those, who are the special beneficiaries of tliis large State beneficience, to practice the spirit of enlightened reciprocation. There are those, whose patriotism and intelligence are entitled to great respect., who earnestly advo cate the policy of the State aiding works of internal improvement, by issuing her Bonds for a sufficient amount, per mile, to pur chase the rails, to all Rail Road companies which shall have completed the guiding &e. of their respective Roads, and made them ready for laying the superstructure. But I regard it wild and hazardous, and the adoption of such a measures, as the worst calamity that could be infl.cted upou the State If there could possibly be any necessi ties which would justify it, they certainly do not exist in Georgia. Rail road enterprise, with us, does not need stimulation but ratli ]er wholesome and judicious direction. Such i a system ns that, however, would multiply ! those works—or attempts to construct them. —indefinitely; and the s<quel would ben crushing State debt, impaired State credit, 1 ruinous depreciation of State stocks, and general paralysis, in all the departments of business and labor. States, like individuals, ] will retard their progress, if they endeavor to advance too rapidly. A system of inter nal improvements should be rather a growth, developed and gradually matured by the action of the laws of social and commercial progress, than the artificial result of rest less, impatient, and ill-guided, but well uieant legislation. Let us shun both Scylla and Charibdis, and move cautiously through the strait between the two extremes. The various banks of the State have promptly made their reports, from time to time, under Executive proclamation, issued in obedience to the law regulating that sub ject. By the exhibits made, those institu tions seem to bo sound and healthy. Still, the Legislature cannot be too vigilant, in their examinations, or too stringent, in re straining them within the limits of their re spective charters. New charters should be granted wiuh caution, and only at points, where the interests of trade require uu in crease of banking capital and facilities.— Created in reference to such demand, they are public conveniences; otherwise they are mere brokerages and shaving shops, and be ing compelled to realize their profits by other means than the appropriate business of bank ing, they become engines of ruthless oppres sion and lawless usury—grinding the faces of the necessitous and waging a guerilla warfare upon the safer and better institu tions of the State. The practice seems to have obtained, of late, with some banks, of sending their issues to distant States, not seeking nor desiring a home circulation. As yet, it is not known, that material injury has resulted, but that it is violative of the correct principle of banking, is not to be doubted. It ts equally certain, that their ultimate failure will bring reproach and d.s honor upon the State. Hence, it would be well for the Legislature to investigate the extent, character aud policy of these distant operations. Are they not hazardous to the financial welfare of the Stute ? Are they not inconsistent with correct banking prin ciples ? Are they not against the reason nnd ■ spirit which prompted the Legislature to charter them } Is it not bad policy, for the General Assembly of Georgia, virtually to establish bnuks for other States, although 1 nominally located within our limits? These are grave questions lam not prepared to j say, what ought to be the effect, if investi gation should furnish an affirmative answer to them. That it would disclose a fearful evil is certain ; hut whether it is within the l reach of legislative remedy, consistent with chartered franchises can only be determin ed by the facts developed. If such disclo sures should amount to a ft aud upon the intention of the Legislature, in granting the charter, or show a misuser of the charters,! by their perversion to purposes, not contem plated by their creation, the remedy is plain, j The whole subject is respectfully submitted, and if nothing more valuable result from its discussion, it will, at least, inculcate the salutary lesson, that hereafter they shall be granted upon such terms aud restrictions us will prevent the evil. In compliance with a resolution of the last Legislature, 1 appointed L E Bleckley, Esq , Solicitor General ot the Coweta Circuit, to enquire into and report, the circumstan ces attending the organization of the Atlanta bauk, and also its mode and places of tran sacting business. Ho performed the duty with ability and neatness It was a labori ous service, not necessarily appertaining to his office, and therefore, it is but justice, that the Legislature should make an appro pr.ation for his liberal compensation. In examining the report, 1 did not deem the ir regularities, in the organization of the bank, or the place and mode of its transactions, to be of such a character as to work a forfeit ure of charter, and therefore, I have not caused judicial proceedings to bo instituted for that purpose. It is, however, herewith submitted, that you may take such action in the premises as you may deem proper and expedient. In obedience to Executive order, to tarn over the assets, of every description, of the Central bank, either in his hands or those of attorneys or agents to two or tnoro suita ble attorneys or agents, the Treasurer, on tho 15th of July, 1854, entrusted the same to Win L Mitchell, Esq., nnd James N. Bo thune, Esq., with full power to collect., eom- USTO. 40. [ promise or dispose of upon an agreement, | that they should retain one half of the a i mounts realised, as compensation for their | services. These assets were in great confu- I sion, consisting of notes, bills of exchange, returned as insolvent., attorneys receipts and fi. fas., endorsed <* nulla bona,” scattered j over the entiro extent of the State. The og , gregate amount was $312,650.63. As yet, but little lias been collected, and it is quite certain, that the ultimate loss, on tliis score, mast be very large. The indebtedness of the bauk, exclusive of her outstanding bonds iis about $36,1-10 GO. It is hoped, that suffi i cient may be realized from these assets, to : pay this liability, but the hope is not found ed upon such data ns to make it confident. From the known energy of the gentlemen , entrusted with them, all that can, will be accomplished. For accurate information, os to the amount, thus far, collected, you are respectfully referred to the report of tho i Treasurer. The commission to settle the claims of the creditors of the Darien bauk upon the State, , under an act of the last General Assembly, approved February 14th, 1854, performed the duty assigned them. The Hon. Eli H. Baxter, not accepting, Win. L. Mitchell, Esq., was appointed in his stead. The Hon. Walter T. Colquitt and Richard 11, Clark, Esq , ware appointed as attorneys to repre sent the State before the commissioners.— Karly however, in the progress of the inves tigations, the former departed this life, whereby the labor and responsibility were devolved upon the latter. It is but a trib ute of justice to bear testimony to the signal ability and success, with which he perform ed the duty assigned him. By his diligence, ; industry aud legal research, he doubtless I saved the State many thousand dollars. The ] award of the commissioners was appealed to | from the Superior court of Baldwin county, and thence, the questions of law were car ried. by writ of error, to the Supreme court. ; The ultimate liability of the State, includ ing compensation to the commissioners, coun sel fees and court costs, was only $48,500.00. By authority of the act under which the proceedings were had, this amount was paid, with the proceeds of State bonds, sold at par, dated July Ist, 1555, and payable ten years after date, at the city of Savannah. Tho publication aud distribution of the laws and journals of the last Legislature were not accomplished until a year after the time required by the law regulating the duty of the public printer. This affords the second, of two successive instances, showing the absolute necessity of requiring this work to be performed at the seat of Government. The act of the 16th of February, 1854, clothes the Executive with enlarged power over the subject, and, under proper circumstances, it might be exercised with advantage. But there were considerations connected with the delinquency of the late public printer which induced forbearance. Under that act, if the delay, in the delivery of the laws and jour nals, go beyond six months, the Executive is authorized to remove him from office and appoint a successor. Ere the expiration of six months, however, the public printer had the misfortune to lose, by fire, almost the entire edition of the House journal. Soon after that, the city of Savannah was visited by the yellow fever, and he fell an early victim, leaving the work unfinished and the office vacant. Messrs. Boughton, Nisbet & Barnes, of the Federal Union press, were appointed to reproduce the requisite number of copies of the burnt journal, and they ex ecuted the work with great fidelity and dis patch However sad the reasons for the delay in this instance, and however far they may go to remove the censure which the public mind, under other circumstances, would visit upon the delinquent, it does not weaken tho reason for requiring the work to be done hereafter at the seat of Government. There is still another and unanswerable argument in support of such requisition The 9th sectiou of the act, referred to, very properly, requires the Compiler to read the proofs of the laws nnd carefully compare thorn with the enrolled Acts. Those net* cannot be removed, with propriety, from li'.e in the office of Secretary of State, llenco, the exceeding inconvenience, almost imprac ticability, of thus reading and comparing the proofs. I therefore, earnestly recom mend, that, who ever may be tho public printer, or wheresoever resident, lie shall be required, by law and tho term* of his bond, to execute the work in thecity of Mil ledgevillc. It will secure dispatch, accuracy nnd fidelity. A large amount of the expense of this branch ol the public service may bo saved, without detriment. Tho law requires the publication of 4,000 copies of the journals of each House; whereas, 2.0(H) copies of each would be a most ample supply. It is well known, that the journals, in mest cases, are deposited with the clerks of the courts of tho several counties and are piled away unap propriated to mould or rot or wa.'-te. It also requires 5.000 copies of the laws, whereas 2 500 would be sufficient. Why continue tho useless expense of so many copies of the laws and journals? Under this head, there may boa still further reduction of the expense, by printing the journals in smaller type By tho change, iu these two respects, several thousand dollars may be saved to the Treas ury, without any detriment to tho public interest. I therefore recommend tho publi cation of 2.000 instead of 4,000 copies of each of the journals, and 2,500, instead of 5,000 copies of the laws—the journals in Loug Primer, instead of Small Pica type. Tho marginal notes to tho laws are almost use less; they may well be dispensed with, and thus save another very considerable item of expense.