The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-03

ceas per ton would not decrease the consum, ton d
coal bushe but would put into the Treasury OF the
ststs $oOoo and would be paid by whom1 The consul
ners in other States who III be exceedingly willing to
pay that small tax In order to wipe out the national DIS
grace Of State, rich in the greatest abundance and
yet unwilling to pay its debts The present movement
u peculiarly festous for the imposition Of this tax
two is that Pennsylvania now enjoys the
monopoly ofsuppy which will longer be the case 81
the Maryland Canal taps the great Allegheny
cool beds; the other is that the OfJune next re-
ducsn Of 80 cents per ton takes pacs in the
may in degree lower the price. The following
from the Miners Journal ON this point:
SouSp THE AL.aM--The present duty on foreign
Coal is about 81 20 per On the 30h OF June next
reduction ofEfuHTY s CENTS sbou, the present
average price mining Of coal in this regiol Ia
compete successfully with the foreign article reduc.
staple-which on o9e00O of Coal would amount to
about six hundred thousand dollars per annum ne ry
ell Of which will be drawn from the wages Of iaoor.
and lost 10 the region Miners and lsborers. are you
prepared for this disastrous state OF affairs
From this admission Of the organ OF the Miners 1t aP
pears that present excessive duty keeps up the price
of focal 81 per ton which paid by the poor consumers
for the exclusive benefit ofthe privileged class ofAiners
without cent benefit to the State Treasury. Why
should the Miners levy this contribution Of 100000
upon their fellow citizens while the State in its neces
stiles IL debarrea from any benefit BY the operation Of
the present tarithe iron manufacturers have to pay
the Miners tax of 81 per ton onthe coal they consume
In makng roo and then they their turn ask TO have
the consumers ofron taxed in order to enable them to
pay thecoa tax Thsfully illustrates the principle Of
protection. single iron establishment in PennsyNs-
MA consumes 5000 tons of coal per annum which,
according to the admission of the Miners Journal tax
OF $4,000 has to be paid. Abolish this tax by removing
the duty, and the operation will be the bounty
upon iron to the extent The State Is heavily in
debt, dishonored and its stock sells at Is to 46 pei
cent Some means must be resorted to- AMI that imme.
diaely to meet the demands upon it, Why then sho uld
not the article ofcoal pay its quota As to connu ug
the borrowing system cannot be DONE The Banks o.
Philadelphia drained 10 their last dollar and their
utmost resources must be strained to sustain them.
selves. The Bank of Pennsylvania broke down under
s efforts to help the State and the United States Bank
and has been closed under injunction, is alleged
with the funds ofthe State in its vaults Tha. matter is
very questionable however, and the affair Should be
prsbed into. Ifthe funds actually there they can
be got ont to be made available although it is
ed that Rdgwuy, Esq oerei his respo visibility for
the Bank provided the injunction should be removed
The Safety Fund arrangement, as it is facetieasly
called IL thus the Banks to deposit SIS 00
common fund to be placed in the hands of trustees
who have been named as follows =
North America-John Richardson
Philadelphia--SamuelF F. Smith.
Commercial-Jsmes Dundas.
Mechanics-J. B. Mitchell.
Penn Township-D. d. Human.
Southwark--Thoma Sparks.
Western--J. Patterson.
Farmers and Mechanics'-I. P. Hut Crimson.
Northern Libertes-David kirkpatrick.
ManufacturerS and Mechanics'-rhos. H. Craige.
Moy amsnsing-Joseph Solmns.
The above sum to be in specie, Treasury notes, or
equally Satisfactory security On the default Of any
Bank the Trustees to have power to convert the
rty to such extent to pay the defalcation and
defaulng bank to be thereafter xcluded from the ar
rangement.