Senate Journal 1820-21 (30-28907-P024A.pdf)
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dollars; from the bank tax seventeen thousand and seven hundred dollars; from licenses probably six thousand dollars, to which add for the present year eight thousand dollars to be received from the Treasury of Massachusetts amounting in the whole to sixty thousand four hundred and eighty dollars. What is to be the amount of the expenditure of the State by the people confided to you. It is very desirable that the receipts into the Treasury should exceed by a considerable amount the estimated expenditure in order that you may be enabled to endow our literary institutions, encourage agriculture and lay the foundation for such public roads, canals and other improvements as the general interest of the State may require.
The existing embarrassments in our circulating medium cannot it is believed affect our revenues. The alarm in relation to the country banks, which originated in the capital of Massachusetts, and unfortunately extended itself into this State is fast subsiding; not however without having reduced three of our better banks to the necessity of suspending specie payments. This course it is presumed was intended by these banks only as a temporary measure adopted to prevent improper sacrifices on their part, as well as to secure the holders of their paper against any eventual loss. The present situation of our monied concerned cannot be of long duration in a section of country, possessing so many advantages. A return to provident economical pursuits and habits of life for several years past on the part of our farmers has placed them in the most eligible situation. It is only necessary that the trading and mechanic portions of the community should imitate the example to drive equal benefits. The effect of such a course upon the prosperity, the morals and the happiness of the people would soon become visible; confidence would be restored and specie would resume its place in the vaults of the banks
Admitted into the Union as a constituent member of the American family, I need not remind you that
Description: The Journal of the Senate documents the proceedings in the chamber, including actions taken on bills, petitions and reports from committees read, and votes taken. The journals are not transcripts and therefore do not include floor speeches that are found in the modern Legislative Records.
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