Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-12-05
sIcEs II BosIoN, 1899 AND 1910.

This table presents mach greater alag off than do the
prices OF manufactured goods AMI indicate that profits
Of the manufacturers must have materially incl easeA
while they have been able compete successfully
With foreign dealers than they could have done under
an advanced tariff with its effect inflated currency and
high prices dear and uniform currency the best pos
sAle protection 70 the manufacturors as 1t is the most
prohabs to the planters by reducing the prices OF her
supplies in the perhaps greater proportion than
than those Of the manufacturers At the time ~
caes the export Of western produce 20 the Europeea
markets.
The currency in all probability must be kept in this
low for a, leas, two years to come The banks q
both the western and southern sections will find it mps-
rayo upon them to follow the Of trade, and ho
governed by the ofhe banks OF New Yorko which
that trndc centres. in order TO sustain their position By
so doing fority Of currency will be preserved and
the produce Of the agricultural, manufacturing and
planting districts amounting to enormous exchsngeahe
values will freely in all sections and the coming
wear may be looked orw ard to which will pressst
greater amount Of real business transactions than
befors took place
We have received the message Of the Governor ofvE
rins " hch contains the following
The aggregate psbc debt ofthe state about ss72oeN
The commonwealth holds stock and funds in
banks and other companies to the amount
The literary fund to the amount of i,seslls q
The fund Tor internal improvement to the
The sinking fund to the amsan, of ois4i y
Making an aggrega,eo Of Sie,0oo, III ~
held By the eath and corporations which 1t has
created and over which has entire control From the
amount of these stocks, viz: 81 9e7 sos o. held ny the
fund for internal improvement and the amount OF these
viz .-S27IA17s Al, which productive, IL will6s
seen that large portion Of the stock held by the state and
the state Institutions not available means Of
revenue OF the aggregate Of sl2ooeis7 30, the sum a
S6ss 100 - is either productive, may soon be-
come So and Of tina, portion OF the public funds which
now totally unprodueti,e there large amount held in
works of internal improvement not yet CONF .te much u
which IL hoped, will ere long become productive.
The gresae Of debt, w; s672o9l-, and the aggre
gate offunds viz ISL ,e both include the Of
94 e7 o. Of state certificates held by institutions uni
der the control OF the state, in fact by the state itself
Deducng this amount the debt OF the state will be
duced TO the Of s573 Sc In estimating the public
debt !. proper regard the amount Of subscriptions
tho.cd but yet applied for on account Of con
templated inproy sments, viz: S27s7,s2o.
The actual deficit in the othe last fiscal year,
exceeded the estimate of the last general Assembly and
made necessary for the executive, under the act a
March Is 1870 20 authorize the treasurer borrow
from time TO time the Bank Of Virginia the Fsrmsrs
and the Exchange Bank the OF Sll57oe prior thu
LIST Of October and $4,000 since that period n the TO
Icy Of loans generally is questionable there be no
doubt that is imTolitc 10 borrow to meet the ordinary
Of government.