The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1842-09-23
Executive DEPARTMENT, Ill, !
September 18th, 1912. )

LatuIc, tudhiiib tiiC hote' VI ''S
Of Illinois receivable in payment oil reve-
nue. and of debts due the school fund.- WIN
proviso that in case OF danger OF loss 10
the state, the governor, auditor anu 'eASu
rer should prohibit their reception lot S"ch
purposes. This provision originated Ill
the well grounded fears of the legislature
in relation 10 that institution and made 1t
obligatory upon those officers to interfere
and prohibit the reception of its paper
whenever its depreciation should be likely
to occasion loss to the state. The legls-
lature of 1889 reconstructed the revenue
system of the state, and made notes OF the
Bank of Illinois at Shawneetown also re-
ceivable for revenue, leaving the power OF
excluding State Bank paper untouched and
unimpalred. When the depreciation OF
the paper OF the State Bank took place
last spring, about half the revenue Tor the
year 1871 had been paid in to collectors
and itwould have operated unequally upon
the residue of the tax payers, to have pro-
hibited its reception for the balance OF the
tax of that year. The revenue OF lS4l
was therefore paid into the treasury In
State Bank paper. A very different state
of things however exists in relation to the
revenue of ls42.-No part of that reve-
nue. has yet been paid by the people; and
every principle of policy, nay, of imperl-
GUS necessity, requires that no part OF 1t
should be paid into the treasury, or rath-
err. into the Bank, which is the treasury,
until the action of the legislature upon the
subject.
We invoke the attention of every citizen
of this state, who is not interested IN per-
petuating public embarrassment, to the iol-
lowing facts.
Under the operation of the laws now IN
existence, the whole revenue OF l642,
when collected from the people, must be
paid over to the State Bank. This 1t is
true would 90 in liquidation of the indebt-
edness of the state to that institution; but
the object of revenue is not to discharge
our debt to the bank-and besides, II Is
very difficult to say, whether, upon iuIl
and final settlement, the state is indebted
TO the bank, or the bank TO the state. lie
this as it may--ihe whole revenue OF 1872
so soon as collected must be paid into that
institution. If no check were interposed
to the payment of this revenue, as 1t Is
payable in deprecated paper, every dollar
of this years tax would be collected, paid
into and absorbed by the State Bank be-
fore the meeting of the general assembly.
The effect of this would be to deprive the
state not only of its present means, but
even to anticipate its future means before
the legislature could have an opportunity
of devisng any plan Of general relief.
That body must assemble in December
and whatever may be the duration OF 1t;
session, questions of vital importance t'
the welfare Of the people, and the pros
poets of the state, depend upon its DELHI
erations. In the face of all this, will any
man who has any regard for the public
interest, or who is not ieariully blind t'
the future insist upon the whole revenue
of the current year being paid into TIN
bank before that body can assemble.
such a man can be found, we entreat hin
to reflect upon the consequences OF HI
policy, and the situation in which II pla
ces the general assembly OF Illinois with
out any revenue in the treasury-wlthou
credit to borrow money on any terms, AM
what is worse, with the whole revenue
1912 anticipated and paid over to the bank
The revenue of 1913 cannot become avaI
liable or reach the treasury before tn
spring of 1914, and in the mean time, tn
state will be required to dclray the exper
ses of the legislature-to carry on the GOV
ernmen,--to pay the oflicers-the Judge
and prosecuting attorneys, and to meet
Indispensable incidental expenses witho'
any means in possession or in prospect
accomplish these objects. This is irt
picture of the condition to which this sta
is about to be reduced by the policy
those who contend for the payment of tn
years revenue in deprecated paper. B
this is not the only evil consequence til
would flow from this suicidal polio
The legislature would be compelled
stern necessity, to let the government
down for want of means, or fall once mo
at the feet of the bank, and supplca
their succor and protection. Far from
ING able to effect dissolution betwe
the state and these institutions, the ban
could extort whatever concessions tn
might choose to demand from the legls
,ure and there would be no other alter