Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-12-14

emplOyou III tub piOpoi uutOS VI SOS'SNe1
ry Of State. | submit to the legislature
whether it is not proper, even in a pecu-
niary view, to deyolve the duties Of Su-
perin.endent Of Common Schools upon
one, whose exclusive business it shall
be to dischqrga them. This officer should
bo at liberty 10 visit the Schools at dliler-
ent points IN the State, TO collect and re-
port to each successive legislature ample
and accurate statistical facts, by which
the system can be thoroughly understood
and vigorously enforced. The reports
from the County Auditors, required by
the present law, in some instances are
not made at all; and in those Instances
where there has been an effort Ito comply
with the law, the information given, geI.
orally embraces only a small portion OF
those facts, which it is most necessary
should be known to the Superintendent as
well as to the legislature. | earnestly
recommend legislative provision, by
which this branch Of the system may be
more satisfactorily administered in iu-
ture.
The public works, in which the inter
est and true glory Of the state are deeply
Involved, have been prosecuted with as
much rapidlty as could have been 0n,icipa.
ted, from a view of their condition at the
opening Of the year. The faith of tho
Slate having been pledged to the compile
ton Of the Wabash and Erie canal within
given time, and the work being orgreat
Importance to the neighboring State with
whom a compact existed on that subject,
the Legislature very properly authorized
the Commissioners Of the Canal Fund to
loan money for that object without ro.
striction as 10 the interest on such loans
At the limo Of the passage Of the law d
the last session authorizing loans, the
debts then due to contractors on ali the
public works were estimated at about five
hundred and oighty-one thousand dollars
This debt, with very small abatement il
amount, had all accrued prior to the meet
ing of the last legislature, and shouli
have been paid within the last year. The
Commissioners Of the Canal Fund being
limited TO loans at 6 yer cent, and sucl
being then impossible to be obtained, the
debt was suffered to accrue, and had 20 bc
provided for out Of the RESOURCES OF tbl
present fiscal year. TO discharge th
} debt, the Commissioners were also Elm
, powered by the acl Of the last session t,
borrow money without restriction as to tht
rate Of interest on the loan. The balanct
of the loans authorized by law were ex
pressly limited to the payment Of inter
est at the rate ofs'X por cent. per annum
Tbs whole amount Of loans ofalI clas
sos authorized for the past year, was tw,
millions one hundred Thousand dollars =
The amount loaned, up to this time, |
stated at about one million eight hundrer
thousand dollars These loans, owing 4
, the peculiar condition ofthe money mar
J ket, both at home and abroad, have bee
, chiefly Of temporary character; but il
. no instance have they been obtained at
: rate Of interest exceeding six per cent, al
: though the act Of the last session woul,
have authorized the loan Of over one mil
lion at a higher rate.
1t will DO perceived, for the reasons al
ready assigned, that the debts due on tht
public works, for labor done during 1910
amounting on accurate ascertainmcnt Il
about six hundred thousand dollars, anc
rhe amount necessary to complete tht
Wabash aHd Erie canal, on which five
hundred and eighty-two thousand foul
hundred and seventeen dollars have be en-
paid during the current year, making to.
gother over one million Of dollars, was oil
a peculiar character, and such as, in good
faith, the State was bound to see promptly
obtained and disbursed. The great de.
clensiOn in the prlco of State stocks, even
those Of the most unquestionable charac.
Ter, for the last year, is well known TO all,
and presented to the Canal Fund Com
missioaers difficulties Of the most formi.
dablc character, Permanent loans of
large sums, at any reasonable rate of in.
terest, could not be had, either in Europe
or the Atlantic cities of the United States.
Actuated by laudable zeal to preserve
unsullied the good faith of the State, hith-
erto so proudly maintained through every
! lvicisitude, the Fund Commissioners, as
the test that could be obtained, negociat.
ed u loan ef about one million Of dollars,
early in the last spring, from two of tho
banks Of Ohio. BY the terms of this loan
the notes of the banks making it were re-
ceived at par, and the interest is TO be
paid at the State Treasury, somi-annualy,
in current money of the State, al the rate
OF SIX per cent Der ypgr
The-intercst on the public debt during
the year has been punctually paid; and
the various public works of the State have
been provided with funds to carry them
forward as rapidly as could be desired
The Muskingum improvement las been
completed, aud is now nayigated by steam.
boats the entire distance fiom Zinesvllo
to the Ohio at Marietta, The balance
due for labor done on this work, is estima-
ted ateghty thousand dollars.