About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

Governor Butler's Message, Number 1. 1837 1 (1837)

handle is hein.slavery/ssactssc0303 and id is 1 raw text is: GOVERNOR BUTLERWS MESSAGE, Number I. oin Tuesday, at 12 o'clock, His Excellency Governor BUTLER CONimkIlated to the Legislature, by his Executive Secretary, the following Messnge. EXECUTIVE DEPARTMENT, NovEMBER 2S, 1837. Fellow.Citizens oJ' the Senate, and of the House of Representatives: At the time of your last adjournment, the country was apparently in the enjoy. ment of unparalleled prosperity. Subsequent events have only developed the true state of things, which then existed, and which has resulted in great political con- fusion and commercial embarrassment. The change was so sudden and unex. pected, that even the wisest and most prudent were not prepared for it. Although you meet in the midst of difficulty and confusion, and under circumstances seem- ingly more unfavorable than when you adjourned, I cannot but regard the country in a better situation now, than it was then. As our distresses have, in some mea- sure, arisen from the money-making spirit of the times ; and as they address them selves to our individual interests, I feel confident that we will profit by the enquiry and discussions that have ensued. The people have been excited to the considera. tion of subjects which have heretofore too little attracted public attention ; and I am satisfied that the country will go through, and rise from the severe trial of the times, with improvement and ultimate advantage. Our calamities have proceedei. flom the passions, contrivances, and imprudences of the people themselves and their federal rulers. In a time of profound peace, and while at liberty to follow the pursuits of our own choice, we have brought about the evils of which we con- plain. Under the influence of a kind Providence, we have just cause to be happy and thankful for the many blessings we are permitted to enjoy; and should manifest our gratitude to the great Ruler of events for tie present prosperous condition of the State. The harvests have been sufficiently abundant to satisfy all reasonable demands. The country enjoys uninterrupted peace, and general good health. I have no disposition, as Governor of the Slate, to interfere with questions that are committed by the Constitution to the exclusive jurisdiction of Congress. But where our State has deeply participated in the evils which Congress is called upon to remedy, I hope it will not be deemed improper to make a few suggestions con- cerning the remedies to be applied to a common misfortune. The condition of the ionied affairs of the country is deplorable, and forms a subject of the deepest and most profound consideration. The derangement and confusion of the currency have produced much embarrassment and suffering in every grade of society, and in every species of business. This general, and wide spread distress, has arisen ziot so much from a want of money, as a want of confidence in what is used as mo- ney. Much of this disorder in the currency, owes its existence to the unfortunate experiments made upon it by the late Federal Executive. The war which was be. gun by him upon the U. S. Uank, was the commencement of the confusion and em- barrassment in our monetary affairs. Until that time, we had a perfectly good and sound currency. The Government deposites were taken from the U. S. Bank, where they were safely kept, and placed in State Banks selected for that purpose these Deposite Banks.were urged and stimulated to excessive issues to make profit- able the money furnished them by the Government; the facility of borrowing me- ney from them and other banks tempted and encouraged wild and extravagant spcc- ulations. This fever for speculation became so contagious and contaminating, as to threaten the country with general bankruptcy. Afler the counttry was thus flooded with a redundant depreciated currency, the late President of the U. S. (who had contributed so largely.the means for this overtrading) was the first to excite alarm, and create suspicion and distrust in the Deposite Banks, by the issue of the Treasury Circular. A general feeling of distrust and fear extended itself through the country; a run was made upon the Banks, and they, from uccessity, suspend- ed specie payments. However necessary the measure may have been on the part of the Banks, it is very much to be regretted, as it has not only served to embarrass the Government, but to cast odium on the country generally. Any Legislative ac- tion of a single State. without the co-operation of others, to attempt to coerce tlhe

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most