' Hole .Yo. 47
Tdrrioroiift, (Mgeeombe Courts X &) Friday, Novemher 29, 1833.
Vol X -VY !
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GOVERNOR'S MESSAGE.
To th General Assembly of the State oJYorth
Carolina:
Gentlemen: The most striking characteristic
of our republican system of government, is the
periodical assemblage of the representatives of
the people, clothed with the power, and charged
with the interests of their constituents. Experi
ence has shown that the best security for the pre
servation of our rights is to be fjuiid in a delib
erative body, selected by the people from among
themselves, and returning at short intervals to
the bosom of the community to participate in the
blessings derived from wise, or the evils flowing
Irom indiscreet legislation. It is apparent that
no form of government can be devised, which
will afford a guarantee that the common welfire
will be promoted, and the public liberty preser
ved in the hands of incompetent or faithless fl
uents, and that in proportion to the importance
of the trust assumed, should be the real, fidelity
;tnd diligence, with which we enter upon the dis
charge of our duties.
I trust that I entertain a proper sense of the
high responsibility which rests upon the execu
tive department, and cherish the disposition to
co-operate with you in a hearty endeavor to ac
complish every object which may be necessary
to secure the ends for which our Government
was established. It is to be recollected, howev
er, that the Constitution for wise purpose;, has
confided to you the whole power of legislation.
The Executive can neither control nor check
your proceedings, and even the privilege of ad
vising you upon the subject of your delibera
tions seems to be derived rather from custom,
sanctioned by its apparent propriety, than from
any express constitutional provision. I ap
proach the discussion, nevertheless, of the impor
tant subjects which demand your attention with
a frankness, inspired by the conviction, that the
high privilege with which you are invested, will
but render you the more anxious for its proper
exercise and the more disposed to listen with at
tention to suggestions emanating from a co-ordinate
branch of the Government.
A recurrence to our past legislation will show
ii5, that although our predecessors have trans
mitted to us unimpaired the great charter of our
rights, and were anxiously disposed to advance
the improvement of the State, by providing faci
lities fur trade, increasing our agricultural pro
ductions, diffusing ihe advantages of education,
a-id adapting our laws to the improved condition
of society, little has been done for the further
ance of either of these purposes, in comparison
with what it is in our power to effect, and with
that which the excited hopes and expectations of
the community demand.
It is certainly not claiming too much for North
Carolina, when we assert that no State in the U
nioo, has from the earliest period of her history,
exhibited a more ardent devotion to liberty, or
ready obedience to the laws. 1 regret that the
conviction is forced upon me, that her early love
of freedom, and immense sacrifices for its attain
ment and preservation, have not met with the
comparative consideration and reward to which
they were so justly entitled. This result has
been owing in some degree to natural causes, but
quite as much to the greater pertinacity, with
which the claims of other members of the confe
deracy, have been pressed upon the attention of
the General Government. I shall not, at present,
pursue this discussion, though I may take occa
sion to call your attention to the subject in the
progress of the session. The settlement of our
revolutionary claims, of our claims for expendi
tures during the late war with Great Britain, the
policy pursued by our sister States with respect
to the Cherokee Indians, the tendency of which
lias ben to drive them from their borders and
fasten them upon our soil, will require a more
minute examination than is consistent with the
character of this paper. But if we have receiv
ed comparatively few advantages of the nature to
which I have alluded, I fear it is no less true,
that the State Government, has been too inatten
tive to all that concerns thy character and inte
rest of the commonwealth.
The apathy which has pervaded the legislation
of half a century, is most strikingly exhibited by
the fact, that the mere expenses of the General
Assembly have ordinarily exceeded the an.
gate expenditures of all the other departments of
me government, united to the appropriations
which have been made, for the purposes of Inter
nal Improvement. That government cannot be
wisely administered, where those who direct the
expenditure of the public treasure, receive more
for this service than the amount of their disburse
ments. Let me not be regarded as insisting that
the Legislature is sustained at an expense dispro
portioned to its importance, but as suggesting a
doubt whether its legitimate functions have been
performed. 1 advert to the circumstance princi
pally to enable me to urge upon you more forci
bly, the propriety of entering upon a system of
legislation required by the wants of your consti
tuents, commensurate with their resources, and
w orthy the confidence which they repose in your
ability to administer their public affairs.
The excitement w hich seems to pervade everv
section of the State, upon the subject of Internal
Improvements, has no doub: attracted your at
tention and engaged your reflection. The opin
ion seems to be general, that the adoption of a
more liberal system is essential to the future pros
perity of the State; and that this cannot be effect
ed by individual exertion, unaided by contribu
tions from the public treasury. The Report of
the Hoard for Internal Improvements, will be
transmitted to you in a few days, and will afford
all the information which that body have been
able to obtain, with respect to our several road
and navigation companies. It affords me plea
sure to state, that these details will be calculated
to correct much misapprehension, and remove
some prejudices wirli respect to the attempts
heretofore made to improve our internal condi
tion. The situation of some of the corporations
is much more prosperous, than many intelligent
individuals bad supposed. That there were in
stances of mismanagement, and that a portion of
ihe public funds lias been expended without pro
ducing any substantial good, cannot be contro
verted. But the actual public loss, will be found
to be much less than is generally conjectured.
When it is recollected, that at the commence
ment of our operations in 181 S and 1819, we
were entirely inexperienced, and found it impos
sible to obtain the aid of a skilful engineer to di
rect our efforts, that several works were com
menced simultaneously, and that the improve
ment instead of beginning at the mouths, was
commenced at the sources of the rivers, the ag
gregate loss sustained is the subject neither of
great surprise or serious discouragement. The
information we have acquired, if it does not com
pensate us for the expenditure incurred iti ob
taining it, will not prove without value. The
introduction of the Rail Road system, is the
commencement of a new era in the annals of nhv-
sical improvement. The cost of any given work '
l , : i .:.u i " ,
.in ur ,im ci i.mini nun so mucii correctness, be
fore its construction is attempted, that prudent
men will be able to compare its probable value,
with the proposed expenditure, and arrive at a
satisfactory conclusion, with respect to the pro
priety of engaging in the enterprize.
In addition to the information which will be
afforded by the Report alluded to, with respect
to the condition of the public works, the opin
ions of the Board will, in obedience to the Act of
Assembly creating the corporation, be presented
upon the most important subjects connected with
the internal improvement of the State. Whether
the condition of our country is susceptible of the
improvements recommended? whether a fund
shall be created proportioned to the magnitude
and importance of the enterprize to be accom
plished? whether the public treasure shall be
exclusively employed, or adequate aid extended
to incorporated companies? are enquiries which
have received the anxious consideration of the
Board, and will be submitted for your determi
nation. My own opinion is, that the great chan
nels of inter-communication, in which the w hole
community is interested and w hich, for that rea
son, will not probably attract, and are least like
ly to be effected by individual enterprize de
mand the exclusive attention and patronage of
the government. With respect to improvements
of a local character, I think the safest, and per
haps the wisest course for the Legislature to pur
sue will be, to incorporate companies in every
section of the State where they may be necessa
ry; and to subscribe for a uniform portion of
Stock in each on the condition that no part of
the public subscription shall be demanded until
the private Stockholders shall have paid, or se
cured the payment of their subscriptions. Indi
viduals will rarely be found anxious to engage in
a chimerical scheme; and no more satisfactory
evidence of the practicability and usefulness of
any work, need be required than the fact, that
those w ho recommend it to public patronage, are
willing to test the correctness of their opinions
by trusting their own capital to the same hazard.
We know too, that individuals ordinarily expend
their own resources with more prudence and fore
cast, than those w ho have the management of an
exclusively public fund. If it shall be consider
ed advisable, that the public shall own any parti
cular work of this character, it may be made a
condition In the charter, that the State may at
any time resume the franchise, upon the payment
of a stipulated sum to the stockholders.
The Report of the President and Directors of
the Literary 1-und which will be submitted in
your consideration at an early day, will shew
the result, so far as it has been tried of the only
attempt we have yet made to establish "schools
for the conv enient instruction of youth, with such
salaries to the masters, paid by the public as
may enable them to instruct at low prices." The
aggregate amount of the fund i? at present too
small, to justify our entering upon any general
system or education. Indeed, Were this fund
much larger, it may well be doubted whether the
period has yet arrived, when it can be judicious
ly expended, tor the promotion of the wise and
benevolent purposes Contemplated by the found
ers of our government. The sparseness of our
population presents great, perhaps, insuperable
difficulties. When, as the result of a wise and
liberal system of legislation, the inlets upon our
coast shall receive the improvement of which thev
are susceptible; when our great natural highways,
the rivers connected with them, shall assume that
condition, in which Providence designs they
snail be placed by our hands; when these chan
nels of communication shall be intersected by
Rail Roads and Canals; and as a natural conse
quence of this state of things, agriculture shall
receive her appropriate reward, we will have laid
the foundation of a school system, as extensive as
our limits, and as enduring as our prosperity. A
few individuals will not have been selected and
cherished as the peculiar object of public patron
age; but the general character of the country will
be elevated, and thousands now too poor to af
ford the blessings of education to their children,
will find this though the most important, but one
of many advantages incident to an improved
condition of life. Extended commercial facili
ties will stimulate to agricultural exertion; in
creased production afford the means of educa
tion; and the diffusion of know ledge operate as
the most certain preventive of crime. A more
liberal scheme would be better suited to the con
dition of older and richer communities, and I
trust the day is not very distant when it will be
so to ours
From the phraseology of the act establishing
Ihe Literary Fund, doubts are enlertained whe
ther the inieniion of the Legislature was to trans
fer to thai corporation, the proceeds of the va
cant and unappropriated Swamp lands, or the
lands themselves. Acting upon the latter im
pression, the Directors have prepared a plan, by
Yiiiv.il it .-. jiwju.sv:u I'luruui anu Dringinto mar
ket, a particular tract of country, and thus test by
experiment, the propriety of entering upon a ge
neral system of improvement. This plan will
accompany the report before alluded to, and the
importance of Ihe subject, will ensure for it a fa
vorable consideration.
This region of marshes is represented by the
engineers who have explored it, as spreading
over a surface of two millions and a half of acres.
three filths of which is the exclusive property of
me. Mate, some of the most intelligent, enter
prizing and well governed members of the Con
federacy, have their little republics confined by
narrower limits. It constitutes a twentieth of
our own soil in extent, and perhaps an eighth in
fertility. It i not only without productive val
ue in its present condition, but is probabiy more
than all other causes, the source of disease, ren
dering life uncomfortable and insecure: and thus
blighting ihe prosperity of the fairest portion of
me state, l helteve that no doubts exist amono-
those acquainted with the subject, of thepracti
cability of reclaiming these pestilential wastes
and rendering them abodes of nlenlv and com
parative healthfulness. The effect of all our
previous legislation, li.is been to lock them up
from individual appropriation, without making
any effort to improve them.
In compliance with the provisions of the act
passed at the last session of the General Assem
bly, to establisn the Bank of North Carolina,
Hooks ol subscription were opened at the seve
ral places, and al the periods designated by the
third section of the Charter. The result is
known to you, and is strong evidence, that indi
vidual subscriptions of stock cannot be obtained
to any banking institution in this Stale, the direc
tion of which cannot be controlled by the stock
holders. Thus this subject, which occupied so
much time at the last session, returns upon you
with renewed and increased claims to your at
tention. The regulation of the currency of the
country, is at alt times a delicate and difficult
suhject of legislation, but is al present peculiarly
so. The dividends which have been declared
during the present, year, of the capital stock of
the State Bank and Bank of Newbern, amount
to nearly one-third f the entire banking capital
of the Mate. The objections which exM th
charter of the Bank of North Carolina, have had
the effect, u is understood, to induce a portion of
the stockholders to seek investments for their
money in other sections of the Union. A great
diminution of the circulating medium, ha of
course taken place. In addition to this, it is now
regarded as al least probable, that the Bant of
ihe United Slates will not be re-chartered. It
will require the exercise of all your wisdom and
prudence, to preserve the community from the
evils which these combined causes threaten to
produce.
Whether the original establishment of barring;
institutions in this State, was Ihe result of wise
legislation, is mailer rather of em ioii 'eola
tion, than useful enquiry. The current v of the
country, is now, and must continue to be a pa
per currency, and the only alternative presented,,
is the choice between hills emitted bv our own
citizens within our own limits, and sub'iect to our
'dlJ' UI "Y 'e citizens oi olher States, entirely
exempt from our influence and control ' As
oanks are indtspensihle, all will prefer a domes
tic to a foreign institution. ' The important ques
tion to be determined is, what hall be the cha
racter of the corporation. Shall a bank be ciea
led, founded upon public funds, nml mvirnPfV
hy public officers, with a capital sufficiently large
to supply a circulating medium commensurate
with the wants of the community? or shall se
veral banks be chartered, in which the Stele may
subscribe such portion of the stock as she choos
es, the government ar4d direction being confined
lo the individual stockholders?
I shall submit my views unon ihU cuMpm with
great deference to the opinions of those more
conversant wim u. i have had no experience
in the management of r.onied corporations, and
except upon an occasion, when some investiga
tion oi tne constitutionality and expediency of a
Bank of the State, hecame a nnhlin riinv" unh
enquiries have rarely attracted my attention. At
that lime. 1 entertained doubfs with regard to
both, and my subsequent reflections have had ne
tendency to remove them. I donht ihe ror..Iitii.
tional right to establish such an institution, he
cause it seems to me that its issues, though ter
med bank notes, are substantially bills of credit.
-entering into the discussion ol this pro
position., and will state verv brieflv somp few of
the objections which suggest themselves to the
exjivuiency oi tne measure. Ul the power of
the General Government to establish a bank of
this cbaracter, perhaps no scrunh's need be enter
tained. The ability of the nation to maintain
such an institution, is vastly greater than ours;
yet tne experiment has never been tried, and at
me present period receives encouragement from
no class ol politicians. It successfully managed,
as it might be for a time. I think there is loo
much danger, that it would ultimately connect
itself with the politics of the country, and have
a tendency to corrupt the people and their repre
sentatives. Finally, if contrary to all experi
ence, individuals should be found, who having
no interest of their own to sharpen vigilance
should yet bring to the management of such a
corporation the requisite attention, skill and in
tegrity, it may then be prudent to enquire whe
ther a general state of indebtedness on the part of
ihe governed to the government can be free from
the dangers here, that have attended it else
where? If it be a blessing incident to a public
debt, that the creditor has a direct pecuniary in
terest in the maintenance of the government,
does not the converse of the proposition follow
that when the government is the creditor, the
debtor has a direct pecuniary interest inducing
the destruction of the government? Whyarethe
public lands sold for cash rather than on a credit?
The experience acquired at our public treasury -upon
this subject is entitled to consideration..
The head of that department, has not always,
found it an easy matter, to reduce into posses
sion the few debts which have at various times
been due lo the State from her citizens. Suc
cess has more rarely attended his efforts in such,
cases, and when successful, it has been after lon
ger intervals than ordinarily characterize the
transactions of individuals. Would i be other
wise if the debts really due to the State were no
minally due to a bank?
The great error, I apprehenu, which prevails
on this Mibject, is that we are disposed to estab
lish a bank, rather as an expedient to
from taxation, than with a view to the gnat ob
ject to be attained by such an institution, a sound
circulating medium. In the management of pub
lic as of private affairs, we are sometimes tempt
ed to neglect that system of policy which finds
its appropriate reward in patient industry, and
hope to secure prosperity, by some scheme of
speculation which is the most alluring when least
understood. We forget ihat the public treasury
must at last be replenished from Ihe pockHsof
the community; and that Ihe indirect, is fre
quently the mc.st unequal and oppressive species
ol contribution. Bank sttck is certainly a legi
timate sublet of revenue, but the stockholder
should pay for the privileges conferred uj.on
biro, just so much as h receives over a fair rate
p'. r cent, on bis investment, in the oni i rry
;crse of Oca.Ung, and no. more. A greater ex.