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

pension shall cease TO exist, or be remov-
ed by the further action OF congress. That
one or the other of these contingencies
will soon happen there can be little doubt.
The policy of distribution is progressive
in its nature, and will not be easily check
ed. This is manifest from the insidlous,
though rapid progress it has made since
its Development up to the present time.
1t first disclosed Itself in 1896, when
the question Of disposing of the surplus
revenue was in agitation. The obstacle
which the constitution of the United
States presented agains. its distribution to
the states, could not at that time be over
come. This obstacle was, however, cir
cumvcnted by the provisions Of the act OF
congress entitled, San act TO regulate the
deposies of the public money!" under
which the surplus revenue was virtually
distributed to the states. AT the special
session of lS4l, the constitutional barrier
was eil'ectually broken down. and an act
passed by congress to distribute To the
states the proceeds of the sales of the pub
lie lands. This act was passed when
there was no surplus in the treasury,
when debt Of many millions was hang
ing over it. and when only "A few weeks
previous 10 It's passage, and during the
same session Of congress, it had become
necessary to authorize a loan of twelve
millions of dollars to defray the expenses
Of the government. Atthis time some of
the states, it is true, werc deeply involved
in debt, but others again were not only en-
lrely free from debt, but actually had sur
pnses in their treasures. Yet was pro-
posed to distribute the land revenue to the
states, and supply its place in the nations
al treasury by loan. The extravaganza
and folly Of this measure can only be ac-
counted for by the corruptlng influence Of
the distribution policy. The moment the
states yield to this tempting influence,
their independence and sovereignty will
be at an end. The privilege Of expend-
ing the revenue. without any of the re-
straint which the responsibility of lis col
lection imposes, will destroy every prIn-
ciple of moderation and economy. The
extravaganza which would thus be engen-
dered, would furnish congress with pre-
text for collecting, by means Of oppressive
duties, an enormous revenue from the peo-
pie, or for encumbering their labor and
industry, perhaps for ages to come, with
an immense national debt.
AT the last session of the general as
sembly it was known that the provision
of selling bonds at par, for the consuuc-
ton Of the Illinois and Michigan canal,
which had been previously made, owing
to their depreciation in the market, had
become and was likely TO continue una
vaiiing.
In consequence, however, of the ex-
haused means and fallen credit Of the
state, no further provision for its prosecu-
tiOu COulN NC uiduC. clllCC lildt liiDC tHC
only reliance, for the progress Of the
work, has been the remainder of the pro-
ceeds of the sale of 81 100000 of bonds
negotiated by Gen. Thornton in 1910.
After these funds were exhausted, por-
ton of the contractors prosecuted their
contracts to completion, and proposed TO
receive from the canal commissioners
bonds at par for the estimates due them.
Accordingly, bonds were executed and
paid to them to the amount of Sl07 600.
But the unprecedented depreciation of IL
inois stocks about this time in the eastern
market, rendered further continuance of
this expcdien, unavailing. Since then the
principal operations upon it have been
carried on by the contractors, without any
aid from the state, in order to finish exis-
ting contracts, and, unless means can be
derived from some new source, the further
prosecution Of this work, at present, is
impossible.
For a statement of its progress and pre-
sent condition, refer You TO the report
which will be submitted by the board of
commissioners.
According to statement recently re-
ceived from the acting commissioner, the
amount which has been expended towards
its construction is computed at about ST.
500, 900. and the amount which will be
required for its completion is estimated al
100000
1t is to be deeply lamented that our
embarrassment are such that we cannot,
at present, realize this sum for SO noble a
purpose. The completion Of this magni-
iicent work has long been anticipated as
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