The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1842-12-16


year, and the sum of $50, ABS, annually therea'-
''' The mean. of p,sfln, without S,ss&, CON
sists in about four hundred and seventy thoesano'
four hundred and sixty-seven acres OF 'a'u ~
riOus parts Of the state about TWO 'nousai o".
hundred and ninety one town lots, on the me OF
the canal. the canal itself; the contemplated
water ,,oy.r belonging to the canal; two mill
seats on The Little Wabash river; iitty-tve miles
of finished railroad; various commandments OF
other railroads; railroad iron, and the state stock
in the banks, if no arrangement can be made to
recover the bonds held by them.
It believed that the state stock and the I'M
finished railroads, would be nearly if not quite
unsaleable. The water power on the canal,
would be OF no value before the work is compile
ted; the town lots also, mainly depend upon the
completion of the canal, for marketable quality
us well as value the railroad iron Is unsuitable
for any other purpose, and therefore OF little value
In market; and the remaining property OF the
state, thong valuable, could not be sold for cash,
for year or two to come, without mourning rul-
nous losses. Any sale of the canal or canal
lands or lots, before the completion of the work,
would be impossible, for any Just equivalent The
forced sale of all this property at this tune, or Tor
some time to come, would scarcely yield sum
sufficient to pay more than one or two years IN
terest leaving the principal debt and future in
tcrcst, continuing demand upon the people.
The following considerations have operated
iorcibly on my mind, in bringing Inc reluctantly
to the conclusion that ayment in money at pies
cnt, raised by taxation, is impossible.
lst. The taxable property in the state, by the
assessment of 1871, amounted to sos, 1871 ,4l9.
About one and half per cent, on this amount
would have to be imposed whereas, the people are
scarcely able to pay the present tax of thirty cents
on the hundred dollars.
I'd. This tax would be in addition to the coun-
ty tax, amounting generally to the half of one per
cent.
3D. The late census exhibits the fact, that there
were in the state in 1871, 1913, 500 male inhabi-
,ants over the age of fifteen and under the age OF
fifty years. We know that our population has
increased but little since that time; from which
it j., safe to infer that there are not more than
eighty-ivc thousand ablc-bodied men, efficiently
engaged in the production of the material which
is to maintain themselves and the residue Of the
population, and the surplus OF which is to furnish
the means from which the revenue is to be raised
4,h The amount of good money in the state,
would scarcely exceed. and probably not equal
double the amount to be raised by taxation for a
single year. and at least one half of this is conn-
cd IN the banks, SO as to he of no manner OF use
in our business.
9Th. Our Iaope are most generally engaged in
agriculture, aud whilst so employed can never
expect SO great proportion of money, in crcula-
ton as is possessed by commercial and manuiac-
turing districts The cost in money of agricul-
sural pursuits is less, and less is paid out in car
rying them on. which accounts for the greater
ability of commercial and manufacturing coun-
tries to raise money by taxation.
Thus we arrive at conclusion of painful in
tcrest, that the state is not in condition to fulfil
its solemn engagements; and however Notifying
it is to our pride, there is still one consolation,
which is that it has been produced by want of
ability, and not by want of inclination. The
main thing with which the world can Justly re-
proach us is, that we were visionary and reckless
that without sober lellberatOn, we jumped head
long into ambitious schemes OF public agrandiZe-
ment, which were not justified BY our resources.
Nor are our original creditors free from reproach
on the same account.
They as men of intelligence, sufficient for the
proper management Of large capital, ought rs well
as ourselves, to have loreseen our future want
OF ability, and the consequent catastrophe which
our common error has produced
1t is barely possible, that most rigorous sys-
TEN of oppressive taxation would yield sum
sufficient to pay interest for a single year. But
such tax could not be repeated
The apprehension Oft would spread constcrna-
ton and alarm throughout the breadth of the land.
Our citizens would sell their property at any sac
rllce aud leave us for some happier home. The
whole world would svod our shores, as they
woule avoid certain destruction. We would de-
populate the state Of its present inhabitants and
prevent any future accession by alarming stran-
gers abrood.
Under these circumstances, it appears to me-,
TO be neither TO the interest of the people, sol
idly advantageous to creditors, that We should
make violent and spasmodic exertion to raise
money by taxation. flour creditors are ever to
be paid, it will not be by the mere territory COM
posing the state, nor by the abstract thing called
she state sovereignty, but by the people, who may
be here, the inhabitants the land; and how are
they to be paid if we depopulate the country!
Two causes have operated to prevent an in-
crease of population for year or two past; one
is the prevalent fear fcxorhtant taxes; the other
the reproach to which we are subject abroad
The remedy for this is obvious. Lett be known
in the first place that no oppressive and extermi
mating taxation is to be Tesorted to in the second
we must convince our creditors and the world
tina. the disgrace of reputation is not counten
anced among us. That we are honest, and mean
to pay, as soon as we are able. | would therefore
recommend to the general assembly to speak on
this subject in the most decisive manner so as tC
give every assurance that, in dao time we will tax
ourselves according to our ability to pay our debts
The consequence will be that our creditors, wh(
are persons of power and influence, instead of re
preaching us and getting up a moral crusade
against us, as against conlcderatcd band of un
principled swinders, with the view to coerce III
to our duty, will be directly interested in doing
US all the good in their power. They no doub
will exert themselves to send us substantial inhab
itants; and will point out our fertile soil, to al
who may wish a new home in the west.
Ifthis policy shall he adopted, it is believed tina
we may safely rely upon vast and speedy in
crease Of our numbers and wealth. The large ex