Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1842-04-29

81 ss - 80 Sc
ILLINOIS AND THE BANKs.--The N. Y. Her
aid has the following remarks in relation 10 IL
linols and her connection with the banking
system. Our own state might have been 10
the same condition, had the managers Of our
hanks been less cowardly; and it is not impos-
sih'e that we may one Of these days find our
selves as bad off as the suckers. Will the
people be warned in season :--Ia. Sentinel.
The State Of Illinois is melancholy exam.
pie of the disastrous results attending Union
OF bank and State. 1t has debt Of Is 900 600,
IN addition to which, its annual expense for
carrying on the government is about 100 900.
| In an evil hour the State chartered the State
Bank Of Illinois, and made its issues r.ceiva-
BILE for all State dues. The bank suspended,
and instead of being compelled to resume, it
was allowed to 60 on until utter ruin overlook
it, and Its issues are at so cents on the dollar
As we have stated, under the present revenue
laws, the entire revenue is payable in this
worthless paper. The demand for this purpose
is all that maintains even the present rate Of il,
The result is that the taxes are paid in with
uncommon alacrity. The collector at SPRING
field states that he received one day 500, be-
ing more than previously he could collect in a
month. The amour: outstanding February &c,
was 80 1861 ,288, enough to absorb the revenue
for ten years TO come. Here is State with
out money or credit, and without the ability 10
levy taxes. This is a, fair example of the ut
ter ruin attending the connection of a govern
ment with bank. In it we see type Of what
inevitably would have been the situation Of the
federal government. had the Clay policy been
pursued at the extra session, which was to
create large debt and large bank, and make
the one lean upon the other, and the govern
ment upon both, and all upon foreign founda-
ton, situated in Threadneedle street, where
nod from the British Minister would at any
moment send the whole fabric to destruction.
ENGLAND AND MExIco.-The Natchez Free
Trader says:
ssWe should recollect that the greatest pirate
in the world, and our most inveterate enemy,
is at the bottom Of the war waged by Mexico
against Texas, and that Southern slavery is
one Of The reasons assigned by Santa Anna for
his refusal to acknowledge Texian indepen-
dence. Those who prefer giving Texas help
to drub this pusillanimous people to fighting
her on our own soil, now have an opportunity
of doing so. England has insulsed our flag
under pretence Of suppressing slavery and the
slave trade--she has, by her cunning diploma
cy, formed league with some of the greatest
powers of Europe, with the sole object of in
terfering with The trade of the United States,
and now she sets Mexico upon Texas with the
avowed intention Of liberating the slaves in
rhas new .epablic, IN urdrr that she may have
one less competitor with her Indian products.
If Mexico succeeds in subjugating Texas, we
shall next have her upon US, backed by Eng
land. 1t is folly to think of the United States
H. kn bad int -
Our only plan, then is to assis. those who will
fight"
There is not country on the face Of globe,
where the different interests are so dependent
upon and useful to each other, as they are in
the United States. 1t really seems that Ma
lures God had destined this great nation TO re-
main forever one in interest, one in principle,
and one in glory the climate, the soil. the pro-
ducts, in word, the interests of the whole,
and the interests of the parts, all point to the
great vital Observation-Disclosures and forev-
er. The Sonth and Southwest, from climate
and soil, are especially adapted to the culture
of cotton, rice, tobacco and indigo, and the
manufacture Of sugar and molasses from the
cane these products will always be demand
ed for the consumption Of the other sections Of
the Union. The Middle States abound in min
eral wealth, which they are prepared 10 man
ufacture in sufficient quantities to supply the
consumption of the whole Union. The East
and the North have the power, the capital, and
the manufacturing skill, to prepare the raw sta
pie OF the South, as well as the wool Of other
sections. for the whole, while the West the
fertile West, can furnish sufficient supply of
-four, corn, beef, and pork, to feed all the OPP
eratives of the Eastern, Northern and Middle
States, as well as all the planters of the South
and Southwest. The East may bear the same
relation to the South in interest. as the Island
of England does to the East Indies, in the
manufacture of their great staple. while the
home market will be furnished for the products
of each section of the Union.
SlLK.-Notwithstan the disappointment
of many who since the year 1899, engaged IN
the culture of the morus multicaulis and other
varieties of the mulberry, and the raising OF
silkworms, there has been, on the whole.
steady increase in the attention devoted to that
branch Of industry. In twelve Of the states
special bounty is paid for the production OF CO.
coons. and Of the raw silk and there seems at
last no ground for abandoning the enterprise,
so successfully begun. Of aiming to supply our
home consumption of this important article Of
our imports. In Massachusetts. Connecticut,
New York. PENNSYLVANIA, Delaware Tennessee