Page images
PDF
EPUB

TIE

REGISTER OF PENNSYLVANIA.

DEVOTED TO THE PRESERVATION OF EVERY KIND OF USEFUL INFORMATION RESPECTING THE STATE.

EDITED BY SAMUEL HAZARD.

VOL. V.-NO, 6.

PHILADELPHIA, FEBRUARY 6, 1830.

NO. 110,

REMARKS OF MR. MALLERY,

is $1,399,790 67. The amount required to complete

the contracts heretofore made and which will be wantON THE BILL EXTENDING TUE CILARTER OF THE BANK ON PENNSYLVANIA,

ed during the present year, is $2,060,742 37, making

$3,460,533 06; to which is to be added the $106,000 AND FOR OTHER PURPOSES.

obtained upon temporary loan and not yet provided for,

making together $3,566,533 06; which the state now House of Representatives, January 16th, 1830. owes for canal operations and what is now under con

tract, without one single foot of extension. Experience MR. MALLERY said-As a member of the Commit- has shown that the real expenditure has exceeded the tee who originated this Bill, it may not be improper for estimate of our engineers. We are bound to make pro. me to present to the view of the House, some of the vision for this sum. A sum not exceding four millions reasons which induced the proposing of this measure for by this measure is proposed, and will be called for if it your consideration, as this subject, connected with all shall be required.' There is, however, a further sum matters relative to our finances, has been referred to in addition to this, amounting to 490,000 dolls. which is the commttee of Ways and Means. I am aware, sir, that to be loaned from the several banks under the provisions a variety of measures has been proposed, and that all of their charters. Taking then the estimate made by of these measures for supplying the means for the state the canal commissioners for the amount for which the exigencies, should be fully, fairly, and soberly discussed state is now liable, with the debts already due which we in the consideration of this bill; if the provisions of this must pay, and deduct the amount from all the appropria. bill are such as are not recommended by the test of ar- tions heretofore made, and the amount contained in this gument, and fair deductions drawn from an impartia bill, and there remains only $923,466 94. The commit. discussion, I will most cheerfully adopt any other course tee of Internal Improvement and Inland Navigation, have which would be more effectual and proper. I wish only not yet been able to lay before this House their report, that the committee (of the whole) should listen to this and we can not tell what they may recommend, nor subject attentively, and examine for themselves. As I what this House may do with regard to extensions. I have no particular desire for a particular mode of rais- can only say, that as an individual member, it forces iting the money, only that it be such an one as will best self upon my mind strongly, that something should be promote the public good; permit me then to say, that done beyond the completion of the contracts already the provisions of this bill contain two objects. The one made. It is not contemplated by the legislature or by is the extension of the charter of the Bank of Pennsyl- the people at large, that our works of public improve. vania for a further period of time, which subject has ment should stop where they are, that the canal of the been brought before the House by the late Governor, and west should remain unconnected with the canal of the referred to the Committee of Ways and Means. It will east. It is by this connection alone that we can realize readily be perceived, that the interest of the Common our anticipated benefits. From the line of the Rail-road wealth is involved in this question. The value of the stock from Philadelphia to Columbia, no benefit can result in in the Bank depends upon the legal existence of its its present condition, nar until the rails are placed, and charter, which is about to expire; unless a further time the road prepared for use Other sections of the canal is given by the Legislature, the officers must soon begin require to be extended to reach certain points, so that to bring to a close the affairs of this institution. The the State shall receive their full benefit. Very little can Commonwealth now owns in this Bank one and a half be expected if they stop where they are, and we shall million of dollars. I need not bring before the Com- have to pay interest, without the State receiving much mittee the necessity of making some immediate provi- benefit from what has already been done. But I have sion upon this subject. In the closing the concerns of the fullest confidence in the benefit of the whole when an institution of this description, much time must elapse, completed. I would ask the committee whether they during which the operations of the bank must cease, the will loiter and linger, and leave the public works in such interest must cease also. In winding up the concerns a state of unproductiveness that they will be nearly use. of this Bank, the state may realize its original subscrip-less. I for one, would be for extending these improve. tion, yet the dividends upon the stock will be suspendo ments so far as to attain certain objects, reach certain ed, if their charter should not be renewed. It needs points, and insure a speedy income to the State. The little reflection to satisfy every member of this commit- amount of money to be expended, and the place where tee, that the interest of the Commonwealth demands of it should be applie'l, should be limited and controlled us to extend the charter of this Bank, on fair and pro. by a sirict regard to the interest of the commonwealth. per principles; that is one object embraced in this bill. The Rail road across the Allegheny mountain according A loan is authorized by this bill to an amount not ex. to Mr. Robinson's report, will require several years to ceeding four millions of dollars. As to the amount, per accomplish it. It is not like common excavation of a mit me here to observe, that we are compelled to as- canal, which will allow men to work upon every perch. sume some given sum. This sum, however, by the pro- Only a given force can be brought to bear upon certain visions of this bill is not fixed, but is left open and may parts of the work at a time. The sum mentioned in this be controlled by the future acts of the Legislature, if it bill, it is believed, is the least which put duty and a reshould not be required by laws already passed by this gard for the public good will admit of. The amount will House. Permit me also to observe, that the estimate pay what the state is bound to pay, and if no new conmade by the Board of Canal Commissioners is the only tracts shall be authorised, the balance, if any, will not guide we have at present. And by that report, the a- be loaned. It is not exceeding so much. The loan of mount of money that is now due for work already done, this sum has been connected with the re.chartering the

Voi, V. 11

82

REMARKS OF MR. MALLARY.

(FEBRUARI

Bank of Pennsylvania. I am aware that objections have demand, or another failure will ensue. It is doubtless been, and will be again made to this measure; if they true, that the market for public stock is limited, and are sound and valid, let them have their full force, if who will undertake to decide at this time how much can they are not, let them be surrendered to the interest of be obtained by dependence upon the inarkets. Who the State. It may not be necessary to mention all the can measure iis precise capacity? If less than $800,000 reasons which induced the committee of Ways and could be sold in the last season, what evidence is there Means to connect the loan with the extension of the that 4,000,000 can be procured in the same way during charter. One reason for connecting this loan with the the present? Bank of Pennsylvania was to make sure of the sun that The only resolution offered upon that subject is to auwill be required for the present year, without submitting thorize a loan and create stock to the amount of two to the embarrassment which has so much humiliated ev. millions. Suppose that could be obtained without the ery Pennsylvanian during the past year. If other and agency of any institution, that sum will not carry the better means can be resorted to, I am willing to a: state through the present year, and how are you to obdopt them. The Legislature, however, should profit tain the balance? It is the duty of this legislature to by experience. In the year 1828, a loan was authori- provide with certainty for enough to pay the debts now sed, the amount offered to be subscribed by individu due, and to become due upon contracts already made, als was very small, the whole loan was taken by the at least. It is true that the loan of last year has been Bank of Pennsylvania; we went on that year without taken, and much of it has been taken by the bank of embarrassment. As far as I have been able to ascertain, Pennsylvania, upon request founded upon a desire to if the Bank of Pennsylvania had not taken that loan, diminish, as far as possible, our en barrasments. there would have been a total failure; the money would If you throw two millions into market without any innot have been procured. Such is the opinion of all ac. stitution to control it, and we shall fail in getting the quainted with the subject. So said the joint commit. balance, low then are we to meet the exigencies of the tee. During the last session, sir, a most unfortunate state. I wish only coolly and briefly to submit to the difficulty arose, accusations were made against that committee the merits of the various projects which have Bank for taking the loan. The two modes of raising been brought forward to be acted upon, and I shall then money were before the Legislature last year. One con- leave it to the committee to take upon themselves the nected with re-chartering this Bank; the other to issue responsibility of the decision, and the consequences in stock and throw it into market, and obtain a loan in that case of a failure. Another proposition is to recharter way. Permit me here to call the attention of the mem- all the banks for 25 years, and they to loan the state the bers with whom I was associated on the floor of this one half of their capital. House last April and March, to the speeches then made The whole amount of banking capital in the state on this subject; to the letters received, and to the infor. which could be embraced within this sehenie not mation given. So much was said upon this subject, that more than ten millions. By extending all their charyou find incorporated in the report of the Committee of ters for 25 years, you obtain a loan of five millions at Ways and Means of last year a calculation of an income par at 5 per cent. interest. This Bill proposes to exto be received from premiums upon the sale of state tend the charter of one bank, in whose extension the stock. The cry was, appoint a commissioner of loans, state has a deep interest, for the same period of time, throw your stock into market-bring your stock under and receive a loan of four millions upon the same terms. the hammer, and you will bave money enough-it will Which proposition is the best? Besides, all the banks sell at par--it will bring a premium. And what was the have not agreed to those terms; some of them have reresult? We took their advice; we followed their direc- fused. How many would accept of such terms, we cantion; we appointed a commissioner of loans;we threw the not tell, nor can we calculate upon the annount to be stock into market, but the market did not furnish a de raised in that mode. The bank of Philadelphia has inand for the amount. The consequence was, a failure, made a distinct and different offer, and it was objected an extraordinary session of the legislature, embarrass- to extend the charter of that bank because it was placment, humiliation, loss of credit, and injary to our con ing it too far beyond the reach of the Legislature. If tractors. Is there any certainty that you can succeed the objection is well founded in the case of a bank in better this year? I wish every member to compare the which ihe state owns stock and is deeply interested, project of throwing the stock into market, and every the objections must increase and multiply when the other project that has been agitated in this house, with charters of all the banks, and in which the state has no the provisions of this bill. You have tried both meth- direct interest, are to be extended for the same period ods; in one mode you succeeded in 1828, in the other of time. you failed in 1829.'

At the coinmencement of this ses In rechartering the Bank of Pennsylvania, the value sion, what was said to us by Banks and monied men?-- of the state stock in that bank is enhanced; its price deYou must raise the rate of interest; money is worth more pending upon the legal existence of the institution. than five per cent. You must remove the restrictions If the Bank shall dispose of the loan at a profit, three in the sale of the stock. You must authorize the Com- fifths of that profit comes to the commonwealth, regumissioner to sell for wbat he can get; and you must cre- lated by her interest in the bank. If other banks take ate a permanent fund, specifically appropriated for the the loan and sell at a profit, the states receives nothing. payment of interest, or capitalists will not take your It is not contemplated by any other banks to hold the stock. They want confidence in the ability and faith stock. Their object is to sell. It is required to be neof the commonwealth, Such, sir, were the feelings gociable. Grant their charters, let them take the loan, expressed upon this subject, that many, with professions and what will be the consequence? They cannot keep of personal friendship for members of the committee, it, they will sell, as sell they must; and if they sell at a loss, and much concern for the welfare of the state, uttered the loss will be regarded as the bonus paid for their chartheir astonishment that the interest had not been imme- ters. The price of the state stock may be reduced, and diately raised, or the restriction in the sales of stock re- the commonwealth, in her future operations, must take moved. Only a few weeks have elapsed, and the story measures to raise its value, or submit to a sale at the deis changed. It is now said there is a demand for state preciated price. It is a sound maxim, that the compe. stock-money can be bad. This moniec market is the tition should be among the buyers, and not among the most changeable and fickle of earthly things. A breath sellers, if a bigla price is sought, can raise and a breath can depress it.

Fears have been expressed by many, that the attempt A short time since and it was said the sum of money of the banks to supply the money required and take the which we must provide for the present year is too much loan, would result in an over issue of their bills, which for the demand of the market. It was said the amount might destroy the soundness of our currency, and prove must be diminished. The supply must be reduced to the injurious tu the community.

1830.)

REMARKS OF MR. SMITH.

83

Another mode of obtaining money, that of sending an under such circumstances was to be done? Was the le. agent to Europe, has been referred to the committee of gislature to tell these men, although by our laws we Ways and Means,lpon the offer of a gentleman influence have employed you to do our work and we admit you ed by the most patriotic motives. The time required have faithfully done your duty and completed your conto negociate, and the uncertainty as to the terms upon tracts, yet we are the stronger power, we are omnipowhich it can be obtained, are worthy of consideration. tent, we have the power in our own hands, you are un The only loan referred to, was obtained after much | able to enforce payment in the ordinary way, and theretime and expense, and at an interest of about 5$ per ) fore we will not pay you.”? Would not the feelings cent. terms not as advantageous as it is hoped the mo. of every man revolt at such flagrant injustice? They ney can be obtained here.

Certainly would. The state already actually owed the Such sir, are the means of raising money which have debt. My vote did not go to increase the debt, but been referred by the House to the consideration of the only authorized a change of creditors. The faith and committee of Ways and Means. Let the House exam-honor of the state were concerned, and it was necessary ine them well, compare their merits and then decide.- they should be preserved. It was not a question of the Let those who object to the present bill supply a sub- expediency or inexpediency of the laws which authorstitute sustained by equal merits, equally sure and ef-ized the works, but a question of common justice to fectual, and the committee of Ways and Means will most the creditors of the state. This loan was expressly incheerfully go with them. Let them place upon paper tended to pay these contractors and workmen, but ow. in a tangible shape the mode to be adopted, and it can ing to the circumstances of the times, the money was be examined and tested. The time has come at which not obtained, and they were not relieved. something must be done besides cavil and object. If But the bill now under consideration, is for different the bank of Pennsylvania is to supply the money, it is objects and different purposes. The objections to il8 necessary it should be knuwn. If the stock is to be passage in my mind resolve themselves into two kinds, thrown into the market, the present time should be im- viz: the re.chartering of the bank under the circumstanproved-nothing should be lost by the delay.

ces proposed, and the vast amount of the loan. What If the banks are all to be engaged in ihe business, then is the object of the bill? It is simply this; the bank they will need the benefit of the present state of the is to be re-chartered for the term of 25 years, to commarket. If we are to send an agent to Europe to sup- mence after the expiration of the present charter, which ply the demands upon the present year, it is time he has yet about three years to run, on condition that was preparing to sail, as the monthly estimates of your she loan to the state, for canal purposes, four millions of contractors are approaching. It has been said that the dollars, at an interest of 5 per cent. The number of House should first provide for an increase of the revenue directors is to be reduced to sixteen, four of whom are before any further loan should be made. If we reflect to be appointed by the governor. Here we have two upon the subject, we shall see that this objection is not distinct propositions of vast importance and bearing enwell founded. The state owes and is bound for the tirely different aspects, but which have been blended money. It must be raised. It will be soon wanied in together in this bill. Is it proper to recharter the bank part. The principal is to be raised by loan. The press on the terms proposed? It appears to me it is not.ent time to effect that is admitted by all to be the most The state holds 1,500,000 dollars of the capital stock, favourable. And it can be easily foreseen, with the and the stockholdrs 1,000,000. What then are the different views that have been presented, that every stockholders giving for the privilege of using this cap. biil to increase the revenue will require much time and ital for banking purposes? Literally nothing. The discussion—it will find a rough road to travel through state pays the same interest on the loan as is common this House. The passage of a law authorizing a loan in other cases of public loans. There is no doubt the cannot lessen the obligation to provide for the payment loan will be a great advantage to these stockholders, of the interest. There is no information either which for the probability is that they will be able to dispose of the committee of Ways and Means can give the House the stock of the state at an advance, and realise a very by a detailed report at present, which has not been al- bandsome profit. Money may be had in foreign counready laid before them, by the messages from the Gov- Iries at a low rate of interest, and the bank will be able ernor, and the Canal Commissioners. Any thing upon to sell all the state stock to great advantage. The oththat subject at present would only be a repetition of er banks of the state have either paid a heavy bonus for what is upon the desk of every member.

their charters, or are now paying a tax of 8 per cent. on Let the House dispose of this subject as they think their dividends. The operation of this bill will be to proper, and then the manner of increasing the revenue place the stockholders of this bank on a better footing to the amount required will claim the attention of the ihan those of other banks, and to exempt them from a House.

tax to which others are subjected. This partial man. Mr. F. Smith rose and sail, The importance Mr. ner of legislation I never will consent to. Look at the Chairman, of the subject now before this committee, re: immense advantages we are giving to this institution.quires that I should state the reasons for the vote which It is singled out for a special favour and protection, and I am about to give in opposition to this bill. I do it in we are about giving away without any consideration, discharge of a duty which I conceive I owe to the pub. chartered privileges for 25 years, for which the state lic at large, as well as to my immediate constiluents. should receive at least from 40,000 to 50,000 dolls. from Although I voted for the loan bill passed in the com- the stockholders. And by making this bank the niedlimencement of this session, I did not there by sanction the um of the sale of four millions of our stock, we are give unwise and extravagant system of canalling heretofore ing her the power of controlling, for a period, the moniprosecuted. The laws of the commonwealth had au- ed operations of the whole commonwealth. thorized the construction of a very large portion of work pose we pass this bill, will not the other banks be entiile on the canals. A great number of contrsctors and worked to the same privileges and exemptions for they too men had been employed, under the authority of these no doubt can loan us money on the same terms, and laws, by the legally constituted agents of the cominon. some of them have already made the offer. They have wealth, and completed their contacts according to their a right to expect the same favors, and we shall soon engagements. They had expended their own means in find, that one after another, as the state may need mo. the service of the commonwealth. Many of them were ney, will obtain charters on the terms proposed in this much embarrassed, and some of them in actual distress. bill, and the revenue we now derive from banks amount. The certificates given to them by the canal commissioning annually to about 40,000 dollars, will gradually deers, as the evidence of the amount of money due them crease and finally be totally destroyed. I view such a for work faithfully performed, were selling, as it was state of things with some degree of apprehension. The asserted, at a discount of from 15 to 20 per cent. What i state is already vestly indebied to the banks. By the sys

But sup:

84

REMARKS OF MR. SMITH.

(FEBRUARY

Do

Do

do

do

tem of improvements now in operation, she will need leading communication to connect the eastern and west. probably as much money to complete the works as has ern waters, they provided for the commencement of a already been expended. The banks having their char. number of other canals, the construction of which were ters secured for such a long period of time, will feel neither warranted by the condition of our treasury nor themselves independent of the Legislature. Have we by their probable utility. Was not this opposition well not then reason to fear that these monied corporations, founded? We were gravely told by a committee of the situated in every section of the state, will exercise an Legislature, at that time, that the canal from Middleundue influence in our legislative deliberations and the town to Clarke's ferry, would only cost 6,000 dolls. per operations of the government? We certainly have. mile, when the actual cost of ihat section has been more

This bill contemplates a loan of four millions. Let us than five, nay six times that sum. This is a faint speci. for a moment take a view of the debt now actually due men of the difference between the estimates and actual by the state. By the report of the Auditor General cost on the other sections. The present condition of made in December last, it appears the debt stands as the works is certainly somewhat discouraging.

In orfollows:

der to secure a majority, canals were commenced in alAppropriations due to turnpikes $113,643 81 most every section of the state where they were pracdo Bridges

6,000 00 licable, none of which have been completed, and conseDo do Rivers

18,190 52 quently the whole remains almost entirely unproduc. Miscellaneous 50,014 98 tive. Do due on loans 8,140,000 00 One of the strongest objections to the present system

of canalling was that no provision was made to meet the

$8,327,849 31 interest on loans, and finally to reimburse the principal. Add to this the million loan passed in

In the state of New York, which the canal men in our November last which has recently

own have professed to copy, among the earliest provibeen taken

1,000,000 00sions is to be found one for the assessment of a large Add the loan made by the Governor

sum of money from the occupiers of land iminediately and yesterday sanctioned by the Le

benefitted by the canal. This was certainly fair and gislature

106,000 00 proper. Those whose lands were enhanced in value Add the compulsory loan from the diff

were compelled to contribute in the same proportion. erent banks about

400,000 00 On a former occasion I suggested this equitable provi. Add the loan contemplated by this bill 4,000,000 00sion of our sister state, but the suggestion passed un

heeded. The canal cominissioners in their report, say: $13,833,849 13 | “But the advantages of this great public work, are not

to be measured by the interest it will yield on the mcIf this bill passes, we will have a public debt of more ney expended; it adds an intrinsic and permanent valthan thirteen millions and a half. It has been said that ue to the commonwealth, independently of the profits the million temporary loan of this session is to be paid arising from tolls. Facts existing in our own state, aoff out of the loan authorised by this bill, but there is no bundantly prove, that the additional ralue of the terriprovision in the bill for that purpose, and it may or may tory bordering on canals, more than equals the whole not be done according to circumstances. Is it not time amount expended in their construction. It is believed, for every reflecting man to pause and consider of the and the belief rests on practicable results that the owngreat magnitude of the debt? Where are we to stop' ers of the soil in Schuylkill county, before the canal 10 I, sir, am not one of those who consider a public debia Philadelphia was made, would have advanced their pripublic blessing, but I deprecate it as a great evil to vate interest by making the improvement at their own any community. In the year 1821 there was great un expense, the additional value to their lands arising from easiness in the public mind in consequence of the "mil. the canal, would have exceeded in amount the whole lion loan" as it was termed; but now the sound of mild cost." If, sir, the additional value of the territory bor. lions has become so familiar to the ears of some gentle- dering on the canals more than equals the whole amount men, that they do not seem to give the subject that se. expended in their construction, it is but common jusrious consideration which it merits, and begin to view tice that such territory should bear the burtben of their the vastly growing debt of the state with perfect indif- completion. The lands in the western and northern ference and comiposure. One year they borrow a nil. sections of the state will be greatly increased in value, lion, the next between two and three millions, and this while the lands in the southern section will not only not year we are called upon to go still further. The Legis- be increased in value, but their value will actually be lature have already this session passed three loan bills, diminished in proportion to the amount of debt which one authorising the loan of a million, another compelling may eventually become an incumbrance on them. Then the banks to loan 5 per cent of their capital, which loan what should have been the course of the projectors and will amount to about 400,000 dollars, a third sanctioning supporters of these improvements? It is plain. When the loan of 106,000 dollars made by the governor with the first law was passed authorizing the canals to be out the authority of the law; but it seems these are con- made, at the expense of the state, it should bave been sidered but preliminary measures to the vast loan in this accompanied with a provision for the assessment and bill of four millions. I contess I feel some alarm at this collection of the means of their completion from those rapid accumulation of debt. I call upon every member who would be benefitted by them. in this committee to reflect seriously on the subject. -- But what should now be the course of the LegislaLet us not deceive ourselves and the people, in en- ture? Would it not be prudent, under present circumdeavours to divert our and their attention from this unstances, to suspend the further progress of the works? pleasant subject, by picturing to the imagination golden Let us have some breathing time. The friends of the harvests of prosperity that may never be realized. Let canals have uniformly assured the people that they them know the whole truth and the full extent of the could be completed without general taxation. Let growing evil.

them now show that they have been correct in this as. Some years since, Mr. Chairman, I had the honor of a surance. Let us pause and provide some means of revseat on this floor, when the law passed for:he commence. enue that may not be burthensome, but may operate ment of the Pennsylvania canal,” and also when the law equitably and justly. Let us pass a law taxing the holdpassed which authorised what was called an "extension” crs of lands on the line of the canals in proportion to of that canal. My course at that time is well known. Iop- the benefit they have and will receive; and taxing bituposed these laws becausa,at that time we were unprepi-minous and anthracite coal which find a market by the red, and had not that inforination on the subject, which canals, and which can well bear it, for the lands on I thought was requisite, and because instead of one / which they abound have been more enhanced in value

1830.]

INIDGENT WIDOW AND SINGLE WOMEN'S SOCIETY.

85

unates.

by the canals than any others, and making some other forty-five of that suffering class of the community for similar provisions so that the people in those sections of whose relief the Institution was founded. During this the state which are not benefitted, may be relieved period, however, several changes have taken place in from the burthen that may otherwise fall upon them. the family. Four of its members have been removed hy

In the southern section of the state there has been deatly, and three have left the Institution at their own nothing to increase the price of lands. The honest and request to be with their friends, who have offered to industrious farmers, at present, pay heavy taxes. They provide for them at home-one has been renoved to pay your poor & road taxes, your taxes for educating poor the Alms-house, in consequence of a mental malady, children, your taxes to support courts of justice, and which rendered this change necessary. The vacancies are subject to many other disadvantages. Would it not thus created have been nearly all filled by other admisbe highly unjust to heap on them any heavier burthens sions. Two foreigners have found a liome in this asylum It certainly would. Let us see then that they are not during the past year; one altogether unable to speak to be subjected to this injustice. I for one, sir, will nev- the English language. It is when we see such instaner consent to any measure that may lead directly or in- ces of suffering, that the value of this institution can be directly further to embarrass this useful and industrious duly appreciated. What situation can be more desolate class of the community.

than that of an aged female sinking under infirmity, and bowed down with sorrow, in a state of entire destitu

tion, in a land of strangers, unable to communicate the ANNUAL REPORT

multiplied wants which press upon her, even to those OF TAE TREASURER OF THE “INDIGENT WIDOW

whose sympathy might be awakened. In several in & SINGLE WOMEN'S SOCIETY" FOR 1829. stances has this society extended its relief to the bro

ken-hearted stranger almost driven to despair. At the annual meeting of the "Indigent Widow and The managers desire to make their grateful acknowlSingle Women's Society,” held at the session room of edgments, to those kind friends by whom they the first Presbyterian church, on Thursday the 14th of bave been remembered during the past year. They January, 1830—the following Report was read by the feel deeply indebted for the continued liberality of Mr. Rex, Mr. SANFORD:

Robert Barclay, whose usual generous benefaction has In presenting a report to the benevolent founders been doubled at the present time, in consideration of and patrons of any public charity, or useful institution, the reduced state of the funds. it is peculiarly gratifying to be able to make such repre In an especial manner the managers would express sentations of its progress and prosperity is would be their thanks to those pious individuals, who have visited grateful to their feelings, and prove the most accepta- the Asylum to promote the spiritual interests of its in ble return which could be offered for their kind exertions to promote its welfare. But it is not always in the Such are indeed visits of mercy. These aged perpower of those on whom this duty may devolve, to fur- sons will necessarily soon be sunimoned into the presnish such a statement. A faithful account, which is the ence of their Judge, to give an account of the actions of only one that can be rendered, may frequently be pain- a long life, whether they have been goed, or whether ful and discouraging, and one which may beavily tax they have been evil,and if among their number there are the sympathy and kindness of friends. The managers any who bave never sought and found mercy, through of the "indigent widows and single women's society," the merits of a Redeemer, it is with them indeed the as they had anticipated from the decline in their annual eleventh hour, and there remains to them, but a brief subscriptions, encountered considerable pecuniary em- and uncertain moment to make their peace with God. barrassment at the close of the past year; and under Under the pressing responsibility of such a case, the these circumstances were obliged to make a representa- managers would earnestly solicit the continued visits of tion of the state of the society, in the public papers.-- the ministers of the gospel, and those pious individuals This statement did not excite all the sympathy that is who are willing to engage in this labor of love. usually manifested for this institution. There is, there. The state of the funds of the society has already been fore,still a debt of the past year uncancelled, * a circum- referred to. An accurate and detailed statement will be stance much to be regretted; as the permanent fund is so found in the treasurer’s report. The inanagers have ensmall, that all that can be obtained in the way of inciden- deavored to use all proper economy in regulating the tal contributions, is necessary to meet the annual ex• expenditures of the Institution under their care.

For a penses of the society. The managers are well aware comparatively small amount, the inmates of our Asylum that there are numerous and important objects of use are furnished with comfortable accommodation, provifulness which engross public attention and make their sion, fuel, medicine and attendance in sickness; medical demand on public liberality; nor would they desire to service is given gratuitously by a benevolent physician, institute any claim which could interfere in the least who has for several years been interested in the Instituwith benevolent efforts of any kind. There seems to tian. It lias been found from accurate calculation, that be in christian charity, a capacity to enlarge and diffuse all the comforts and advantages connected with a resiitself, so as as to meet all the wants of suffering hudence in the Asylum, are afforded at much less expense manity.

than would be incurred in any other situation in which The heart that is alive to this generous principle will these destitute females could be placed. Notwithstandfind its means to do good multiplied, and the hand that ing, however, this careful expenditure of the means of would be extended to wipe away the tear of the orphan, the society, its permanent fund, as has been frequently could not pass by, unhecded, the bitter calamity of the stated, is so inconsiderable, and its certain resources so widow. With these views of the benevolence of the inadequate, that a deficiency always exists in the income christian public, and with entire reliance on the sure of the society; which can only be supplied, in the bepromises of the God of the widow, the managers do not nign Providence of God, through the instrumentality of feel discouraged. They only think it their duty to offer the benevolent. a candid statement of the condition of the society. The managers, though frequently emburrassed, have

Its operations have not been restricted by the state of neyer yet been left without the means to redeem the the funds. The managers have still been enabled to pledge that has been given of support and protection to provide with the comforts of home, throughout the year, those who have entered the Institution. They therefore

trust its aged inmates will still be able to plead their *Since this report was adopted by the Board of Nan- own cause. Those who have provided for them hitheragers, they were informed of a legacy of 292.50 dolls. to, they feel will always cheerfully minister to their neleft to the Society, by Mrs. Ann Bisland, which has been cessities; remembering that the "huary head is a crown appropriated to the satisfaction of this debt,

of glory, if it be found in the way of righteousness.”

« PreviousContinue »