Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-12-08

provided for that purpose, that we are behind I
with this debt IS $50 dol!ars-appIy the 100000 a
dpliars to it, and still deficit 1880 doll
lars Now need this to have bcenl Look back
for moment and reflect. Ii our actual mean9
had been llidiciousy invested and correctly ap1i
piled invested AMI applied as once desired and )
strsnuorsiy urged by very respectable portion I
of the friends o. Internal lmprov ement--whai,
would have been the probable condition of the
Treasury at the expiration Of this same year 81!
Set down the rs, 1 IL dollars which might have
been realized from the means, exclusive OF taxa
ton inst shown, and under 1t the 100000 dol
lars derived from and their united sums
gives the answer to the question: That IS
to be more explicit. these sums show first that we
should have had in the Treasury at the expira-
J ton of 1899, 22S IL dollars and secondly that
instead OF being minus 46, $50 dollars, we should
have paid our whole debt 1872, $50 dollars, and had
a surplus left af 49, 1862 dollars Is not this differ
ence n very striking one? 1t most assuredly Is;
! and yet it is just the difference we may always
look for between good and bad management. II
/ is not necessary, would it be proper, that /
should undertake here to explain the cause OF
such results. | shall fully accomplish my object
If | eau only succeed in presenting our past err
rors in distinct light to arouse and stimu-
late you to the pursuit an! adoption of such mea
sures may most effectually avoid them hereat- |
. ter. Indeed the necessity of doing will strike
you with tenioid power the moment you reflect
that all plans and operations have been framed
in SO large scale, that If we attempt to carry
ness must be swelled within the short space OF
the four wears, up tu the sum OF ten millions
Of dollars. If, therefore we husband our means
and resources no better than we have here tofore
= done-if we continue to scatter and divide and
:. dssi pate them in the same wild and reckless man
ner--how think you, shall be able to
meet and liuudate the increasing demands against
y the State without unnecessarily pressing the peo-
Pile; shaking their confidence in noble enter
prise; and blasting at once the best hopes and the
uhaCt IF ate Ifnnro
y But willis! am thus compelled to expose
unspaI ingiv the mistakes of the past to draw
gloomy picture of the condition of the present
. with the moral certainty ahead of the rapid in
y crease Of debt and difficulty, things odious TO
. ALL take the utmost pleasure in assuring
offset to these, and guarantee for the fu
ture, that the ability of the State, that her meaaS
u and resources, If properly disposed of, will and
70 must continue to augment in a corresponding pro-
= portion to the demands and liabilities that we an
= ticpate against her. Suffer then to make this
- gratifying assurance evident; to marshal before
= you briefly as | can the whole Of these means,
- in order tina, you yourselves may determine wheth
70 my opinion be well founded or not.
- Tho first item, that presents itself, to be set
Of down constituting part and parcel of these
ys MEANS is the capital we have just been consider
~ ing amounting have seen to 81 ,429 ,l2S
e. Secondly, sc, 900 acres Of Wabash
s. and Erie Canal lands, lying along the
to line of the said Canal between Fort
to Wayne and Logansport, worth on an
ly average $40 per acre, 100000
- Thirdly, 29f 1874 acres Of land more
he selected and to be selected for that part
at of the canal between the Tip
!
NJ On average not less than $6 per acre, l,767,74
he S4,Oe6,s7:
nd. Fourthy the fourth instalment of
Of the Surplus Revenue; due lst Janua-
ore ry 1889, 2s6,'3
md S4,3S3, go
t of Does this look like Bankruptcy AS thong
ed our onward career must terminate IN rum an
ped distress? Why should it? Here is clear unir
numbered capital Of at least four millions of do
on- lars absolutely at disposal; capital that II
up vested either In Bank stock in loans upon NOR
our gage, nett to the state, not less than eg
d. per cent. $50, 900 dollars per annum.-Let Il
Stu whole Of this be applied to the extinguishme
nth of debt and what would be the result!
eat would leave defray the entire interest on o.
n OF anticipated debt of millions, only 10000 do
ans lars, to be raised by taxation or from our publ
q or works Such being the case, let US enquire VIII
our may set down the value of our taxable pr
ats perty at by 1912, the time when our debt mi
nine probably reach nine or ten militohs MS val
had tho present year. if the assessment had been c.
lars rectly made, amounts to not less than one hu
the dred and ten millions ofdollars; by 1912 we knt
per that six millions Of acres Of land must be add
ether the list, which the supposition that tn
4 for will then average what the lands subject to Ia
vest lion. now average tnEouSIout tHe Stite ~
the acre, shall have clear addition of sixty n
rs lions of dollars the present sum of taxabl
enue Leaving the increase of personal property out
here view altogether, still the facts show That we
ment reasonably calculate on having IN the state
BILE of 1912, 10 millions of taxable property. Ever
1ispo the present rate OF taxation, this amount wo
,onev produce 255 900 dollars, add tho tax lOO
roper polls, 3o,ooo dollars ana the wnoie revenue
what lcctable for 1912 would be in the neghborhoo
less 3O5 900 dollars deduct 1851 900 dollars for exp
oper- ses of collection and the State Government.
st we still should have lett ~UUoUo dollars 10 ap
% dol pirate to the sinking OF our debit more than
nd we cient pay the 10000 dollars required f
which taxation from public works.
m the But the whole OF these estimates and calc
en- we TONS you will perceive, are based upon the
debts position that YOU will take immediate steps
of ,h. render the foregoing productive by inv
man. ing them speedily possible in the most I
$500 liable fund To this end, therefore, l resp
dues. fully recommend that the 100000 dollars are
Id that derived from the sale of the Canal lands be
been verified into Bank stock; and that the renal,