Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1826-01-14

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un,asorahle change in tie r. snQes oil The
state has arisen ircm lhe depreciation OF
the currency 10 winch the taxes are paid
The great extension of the judiciary,
made al the last session; the expenses
OF that session; and the expenses incur
red in rebuilding the State House. A
comparison OF the past with the present,
with an eye TO the future, and due ton-
sideratlon OF the sacred obligation i'm
posed on the government, 10 sustain the
credit, promote the Interest, aud maintain
the character OF The stare, will not only
admonish the present General Assem-
by 10 be economical in lis EXPENSES and
'appropria bat demand Of it such
retrene hulent OF III public expenditures,
as shall DOT only prevent them 10 future
from exceeding The income, but enable
the state annually to appropriate a por-
ton OF The pubic funds 10 the promotion
aud malnleasnce oil The great aud vital
interests Of education and IntecDal ,n,-
proVement.
BY a provision in the appropriation
law oil the last session, 1t is madt the du-
" ol the auditor 10 issue his warrants Tor
the state paper value OF demands on the
Treasury. TINS provision is most ruin
Gus 10 the Treasury, and prelldiela to
the financial credit oil the state, and
should be repeated. The effect of II is
10 issue the warrant, which is the oblIga
ton OF The state, not for the rea value OF
the service rendered, or 'he lawful
amount due, but for its appraised value
~ state paper; which warrant, IN the no.
minal sun Of this greatly deprecated
currency, II retained unul IL RECEIVERS
few years. Wi! be paid by HI Treasury
not ~ The same deprecated paper ms
dunn in which ii vas issued, but IN The
precious metals. As The paper carren-
cy IS gradual, advancing 10 value, and
~ st continue 10 do so, as the amount III
circulation dimiolshes, the holders OF the
warrants have already, and are daily re-
ceiving benefit, and the state sustain
Ing an injury. | recommend, therefore,
that IN future the auditor he required to
issue his warrants tor the specie ard
standard value of the demands on the
government, and that they bear an inte-
rest until the Treasury be in situation
10 redeem them in specie, or pay their
equivalent in tte notes oil the state bank,
AT the assessed value OF the paper at the
time oil -paym ent.
| In connection with this subject, | also
suggest whelher provision ought not to
t.s a4assss ,4y the psrsss'.s sssr-.' A-ss's--
| Sly, to enable such persons as may pre-
Ter il 10 pay their taxes IL .pecie at The
curreot value Of state paper. There
will be very soon, il there ,os not been
| already, inconvenience experienced IN
procuring. IN STATE paper, thesnaii sums
necessary TO pay the taxes OF Individuals.
| | am sals.ied hat such proNs Oh Won Id
be both convenient to the people and ad-
vaAtageous to the Treasnr9, aud feel
confident that the wisdom aldeXperience
OF the legislature will enable 10 1eylse
the requisite easc'meEts .orlhe assess
Dent OF the relative ralu4 of the two
currenc.es, and For such "a Enlations as
will ensure a faithful rcndItpn of them
respectively, and tor preventing any I'M
proper conduct OF the Collectors oil the
revenue.
| OF the 100000 which have been is
sued by ,he State Bank, SlOo,379 SO
have been burnt during The past year ;
leaving now in circulation, supposine
none 10 have been lost, he sum OF S 1884,
$40 SO, exclusive of the interest which
has accrued. The provisions adopted
a, your last session, by giving an increas-
ed energy to the institution, and by add
ing to the responsibility, and enIorclni,
greater puncluallty in Its agents, have
! had iayoroble effect on the adminlstra-
ion OF the Bank, and in producing era.
dual and salutsry advance IN the price
of ITS paper. Although IT may be to the
interest of particular description Of
debtors to the Bank 10 reduce and keep
down he price OF its notes, there can be
no doubt, that il is not less the true inte-
rest Of the community, than essential TO
the finances and character OF the state,
that its paper currency should gradually
and regu larry advance 10 specie value.
1t has been stated to me by officers OF
the Bank, that contrariety OF opinion
prevails in re lation to the meaning Of the
2lst section of the 6" Act concerning
judgments and executions" approved
January II, 1928. On the one hand, it
is commended that the Judgment must be
for the amount of the note due the Bank,
while on the other, that it must be rem
dered for its specie value. II is very de-