New-York daily tribune., 1843-03-28
GhTo-Banhs and Cnrrency-Pnbiic Debt
Crcdii-PoIiiIcal Prospects. sc. &c.
OF Tue TTlbnne
Corryvrs feN March 9f 1p45.

CoLuMsus. (e.l March q, 18f3
The papers will have informed you, ere this,
that our Legislature has at last dissolved and gone
home. This, by many persons, deemed the most
important event of the session, took place week
ago yesterday. OF the deings of the General
Assembly" as it is entitled By our Constitution,
there is nothing deserving OF especial notice, or
which can greatly interest your City readers, un-
less it may possibly the measures taken respect
ing our pubic debt, and the means for meeting the
dividends to become due the holders OF stocks.
At the beginning of the session, the Auditor of
State, the head OF our Finance Department, stated
in his Report that there was deficit in the reve
nue. Of $3.50, 600; and that it would become the
duty of the Legislature to make search for new
objects Of taxation, to MIN from the necessity
o.: increasing the rates upen the grand levy for
| +" Canal purposes. All the Legislature has done
TO carry out this suggestion, is to authorize ad
ditional issue of Two MILLIONS of bonds, one
third OF which are to draw seven per cent. II they
ca. be sold, and by so much to augment the i'm
mediate, tangible liabilities of the State or IFS
idences of debt, for which provision must also be
made for accraing interest. A great deal Of time
| was spent CuIlnE llS SESSION, upon pTutSCttu
new tax BILL but the dominant party had not the
courage to push it through at the last crisis. I'm
der these circumstances, 1t would not be singular
if some anxiety we're felt res pecting the payment
of our interest in future. Well, my opinion upon
such subject can be worth but little and the facts
upon which it is based are known 10 the world. |
have confidence, and never had, III the integrity
of Loco-F Focoism. | have less in the reckless
school that donneer it this State, than might
chartaEly be, extended to some others. But look
ar the exarapie of Pennsy ylvania, Michigan and
Illinois, all free States, and then tell me why
should any one be surprised TO see Ohio sooner
later, in the SHINE category. Great credit Is due
Ohio for the rlanIiness with which she has thus
fer borne up uoder her burdens, but there have
bsen peculiar attending circumstances which eX-
plain it to those who are on the spot, but which
have ceased To exist. For year two past, the
Loco Focos have hesitated take all the RESPONSE
blity which was in their power on the subject of
our finances. They have now been compelled to
do so, ard have signaizcd their entrance upon this
branch of governmental duty by changing the long
established system, under which credit has been
hitherto sustained. Still. think interest viii
be paid in July. But with two dollars in taxes to
but one of currency, leave it to your judgement
70 say how long it is probable, nay how long twill
be practicable, for the State to keepits faith.
You understand the LocoFoco game in this
State, in reference TO Banks and Paper Currency
The fixed determination is put end to the sys-
tenn. All The ado you notice IN our Legislative
Reports about the establishment OF a new system.
individual liabiity and fresh charters, Is simply
meant for quilting those simple minded and short
sighted people who would charge up to battery
of thirtytwo Founders if told that there were
regiment of Federalists behind them, seeking an
Ippo. 2iiy to overtrn the liberties and lnstltu-
lions of the country. The Legislature this past
winter refused to re.charter thirteen as sound
Banks as there are in the United States, with au
aggregate. organized and active capital of more
thar FIVE millions of dollars, muchof it owned out
Of the State but it very graciously authorized the
creation Of nearly half million of new capital,
under the restrictions of the Reformed for the
regulation Of Banks-one of the prominent features
of which, is, that The Legislature may at any time
alter or repeal the same
Politically, our prospects do not run with our
pecun:ary matters. After the disappointment for
which we prepared you last fall by our confident
assurances of a victory, will not expose our
selves to disrust and ridicule by bragging but for
your own private information must tell you that
the Wings will sweep the State at the next trial
Never was the Loco Foco party in sach stare OF
dissolution and disorganzaiion as at this moment.
This the leaders themselves know, but as there IS
nothing depending upon the Legislature next win
ter, except the Slate APportionment, they console
themselves very easily for thei, anticipated defeat
Another year they will make greater effort but
they cannot carry the State for Van Buren. Cass
would give the Wings mere trouble than any other
man. but he is not the favori1e of the leading po
ticans. The Tyler men in the State viii not sup
port the LocoFocos next fall as they did the last
Between these TWO interests here deal Of bad
blood exists--they cannot emalgamate hereafter
Ii the State had net been most lntamously Gerry
wandered fer Representatives in Congress, we
should carry it that election, but hardly any thing
short OF majority of 2G,000, could give us eleven
of the twenty-one congressman. Hon. WEN. CosT
JoHSsoas S plan is popular here, and will be made
the leading topic of discussion in the coming Eec.
tons 1t will doubtless help us, as i; offers the
only possible mean, of relief from taxation and is
the only security in the minds of many gainst tbe
shame and humiliation OF Repaatatsoz.
We have as get not sign OF Spring. The snow
covers the ground and the roads firm in every
directon-unprecedented weather for this latitude.
Provisions are cheap as dirr"-chckcns ftp,
fine turkeys from 25 to 375 ce2;s, butter four to
i've cents pound, and meats, eggs, &c. in pro-
portion. The means OF living are low and abund-
ant. bat there is no money, and every thing like
enterprise is paralyzed.
II Latest Works ppsihed and .or sale at The
Tribune Oiace, wholesale and retail
ALISON HISTORY, No. .6..............,Price So %
HECTOR o'HALLoRAN, No ,ll,.,.............. III
ENCYCLoP!ED Ola OF GEOGRAPHY, No ST.. 25
MARTIN CHuzZLEWIf, 8 3Nos................. O.
FERDINAND COUNT FaTHOs tEy Smolet... .
ROCKY MOUNTAINS, No. !, (asosia, by irving0 p
MACKENZiE'S DEFENC NCE..................... ic5
ST. ROMANS WELL, tScorsj rsj.,.....-............ .
THEIRS REVOLUTION, no. l5....,.....-....-. %
SPARKS LIFE OF WASHINGTON, No. a.-.... p
-.