The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-07

on, ScheidaIn. 70a80 90a93 a95 alD0
Sugar whit, s.s:ss as $.1 7,l,ss 7,i.e
-" Brazil. whit, s.Ooa1oo 1oossco ' az '' Cal
Salt, Turk, Island lsissoo sooass sssa,,s ssa,o
This shows sudden and great rise in prices of imported
articles When the tariff bill vetoed on account of
The land clause that contained it generally supposed
saat the present Congress would pass tariff. Prices
were therefore very langui. The moment the bill
passed the House without that Objectionable feature
hdence improved and prices looked up. 1t observable
however, that American articles of the description
nave not improved in price, the rise in foreign articles
being mostly on those which the duty considered
Prohipve This is practical commentary on the doc.
trne that increase duties does the price
to the consumer
mento' led some time vince, that the Governor of IL
nos had prohibited the reception of the bills of the
state Ban in payment of the of s42 The fol-
lowing ~ the official notice.
EXECUTIVE DEPARTMENT, ILLrNon,(
August 18TH 1912.
We the undersigned officers Of the State, being of opin
oi the State Bank of Illinois and Branches of
the revenue OF the State and of the different counties in
the state for the year 1872 and in payment of college,
school and seminary debts and interest do hereby pro-
hh the reception of said bills for the purposes aforesaid
gded by law.
THO CARLlN, Governor,
JAS. SHIELDS, Auditor,
MILTON CARPENTER, Treas.
The bills of the Shawneetown Bank were not included
IN the proclamation, because authority existed for
doing although they are equally unsafe This proclama
on has caused great commotion among of land
IN ILLINOIS, held either speculation otherwise, because
those gentlemen have laudaby taken advantage of the
depreciation Of the State Bank bills and bought them up
herewith to pay taxes ser Sept. when the collection
eommeAces These individuals having their hands full
OF paper which now, of course unavailable seek to
raise great camor against the for the proper
course he has pursued Were it not for this udicious
processing the State would be entirely deprived of its
venues Inc effect Of the proclamation merely to sus
pend ire collection of the taxes until after the Legislature
nees The two Banks OF Illinois doubt entirely
Town. and cannot be resuscitaed The coming session of
the Legislature WILL doubtless witness their final extnc
ton The new Legislature Of Illinois is of character
which ensures that strenuous efforts will be made to
teve the credit Of the State and weed out the doctrine of
Reputation from among its inhabitants The bank bonds
will be retired and the Of the State brought for
ward in settlement Of the remainder of its liabilities
On the 18th u stated that irreguarity in number.
ing the Kentucky State Bonds had been discovered and
that explanation required from the Secretary
that State This explain alton has been given as fol
lows
The Legislature Of Kentucky by an act approved the
Internal Improvement purposes; and the Governor was
authorized to sell the bonds scrip of the State payable
six years By an act approved the 18th FesraaTy is4
the amount authorized issued was increased $685.
ins 80 1
the aggregate authorized to be issued by the three acts
Sali6ooo On the 2ad April is4o the issue of bonds OF
tho denomination of 500 and payable in six years.
menced and continued until the 10Th of February ls4
when ceased making altogether the of $500 500 OF
bonds Of that denomination. On the 4th of November
ls4o the issue OF bonds payable in thirty years tcom
menced, and has continued to the present time. The
inst have been regularly numbered from 269 ncu-
ve and the whole issue under these several the
present time amounts to $ls7s6oo, being sa37Soo less
The editor of the Herald is entirely in stating
that the numbers Of OF the bonds issued two
ago run up to i.l76 For repeat that the first issue Of
thirty years. bonds under the act Of ls4O made the 4h
oil November $780, and numbered and bond number
Ito instead OF being issued in $780, stated in the He
raid, was issued the 2sth June, ls42
But seems that bend number l42 bears date the LIST
OF August ls42 and bond number l76 the 25th June,
1872 And this learn has produced that serious
Of anxiety" amongst the dealers in stocks in the city of
The bonds which have been issued BY the State of Ken
lucky for the last two have been paid to the public
contractors. The $1,000 bonds found be very in.
convenient in making change and the Legislature by
actapproved the Sd OF March, s42 authorised the issue
small scrip the denominations of from "a TO $40 ncu
sve bearing interest from date anu redeemabs in thirty
years bonds on demand, when the OF $1,000
the agent of State issuing and redeeming this scrip
And became necessary OF conrse have in that Bank
At all times sufficient amount of 80 years bonds of the
denomination OF $1,000 to redeem the scrip when demand
ed Forthat purpose there was sued from this office the
lah June 1912 bonds numbered from 1888 1852 incu
date, which delivered to tae Cashier of the North.
Bank with directions to fl in the date Of its issue in
redemption of the small scrip C, Jrticates
The bond number l42 trans nitted by you NewYork
andreerred to in the article of the Herald issued
here the l4th june s42 blank date. 1t remained
the Northern Bank until the LIST of August when the
blank was filed and deli vered in redemption of that
amount Of scrip certificates.
II am asked why the ds.e not inserted when the
pond was issued from this. Office answer that il it had
been the state would have been paying interest both on
me scrip and the bonds ct apart to redeem it, the
period which would have been twelve instead per
cent interest.
The bonds have been issued in strict conformity the
law and regularly numbered, and with the exception
those deposited in the Northern Bank the purpose
Office
friends in New York,
am. very respe ctfully
Your obedent servant
JAMES HARLAN,
nm A sAvpr r. secretary Of State.