The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-03-01
Total Of net debt. 90.


large sum truly Illinois, in my judgment, cannot
pay the principal and interest Of this sebt in money
cordng to contract II out ofthe que stion-t s idle
discuss Nor will her resources keep pace with lis in
red, unproductive debt, 10 not desirable. though may
be permanent investment. Wine improves by age old
debts do not especially when interest is paid The
territory Of Illinois is ample in dimensions and
passed in fertility The number Of acres Of land sold
sDd y s within the
unsold ls.s716s6 acres Total number OF acres in the
State 33,io507a
If her creditors will take land in payment at home
valuation" Illinois will pay her debt But land is not
money. Besides land 10 worthless without labor. La
ont Of i. own tax can oniv
surplus. This is small, especially in country,
where is sorely taxed in overcoming physical obsta
cles. Let us look little into statistics.
Illinois has q fetal population of souls, 47slss
The active part are enployedin agriculture 100 337
In trade and manufactured, 1875
In mining, 7s2
These comprise families bu, confning the number to
the male population, and deducting the nonproducers
leaves but persons the actual producers the
wealth. who obliged sustain the whole 476 1873 con-
sumers.
Nor is this all. The moment this labor enters the
State nearly every dollar ofacquison il demanded to
erect the log cabin clear and fence the land turn
the prairie sod purchase working and other cattle and
the implements Of husbsndry and in majority Of cases.
private debt to his eastern friend for pecuniary aid in
starting bis improv incurred and perhaps for
the identical land which his labor is bestowed Now,
az treating OF the collective promise of these in
dividuals for such 10 State bond let look int their
condition In the aggregate community, and see how
stands their fiscal ability We do not think we have
overstated the extent Of their private
when show tn there exists prior lien their in
dustry Of acknowledged higher Obligation before the
collective promise can be let in.
The annual interest st per cent, on the State
debt Of 81: s6ss7s 50, which is payable Sc
mi annually Is. ....................... 742 900
We will say nothing about the rate Of exchange
The expenses Of the State salaries, Legiela-
ture, Judicisry, public buildings, &c. &c. an
Annual State liability. ........ -. -. $4,000
There are certain subordinate political bodies prttty
expensive members Of the family. For exsmple-in H.
lneis there are eighty distinct counties Each
ty 10 compelled,
LIST. To-Day out. construct and maintain it, roads and
bridges remember this IL country treat
ing of)
a. To establish and support its schools for the school
landsi liz the fee IL inalienabe) will be unproductve
tenantry will not exist where good land IL
had at 81 as per acre.
Sd To support its county poor and defray the expenses
Of its county judiciary.
4h To build court house, jail poor house chu, ches
and school houses
Estimating the aggregate annual expenses Of these
eightyhve counties 1t the moderate Of 500 each
suu " % nave, eoJ7 BOO
states annual interest as above. TAI 900
expenditure as above... .,............... 100000
eih7q sec