The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-04-25


In two years appea that these banks realized
tile or nothing from their suspended assets.
The Cincinnati Enquirer, edited by C. H. Brough con-
Inns nearly column commenting upon structure in
laon to the present mission of John Brough Esq, Aud
of the State of Ohio to this city, to issue proposals for
loan OF ST. 500 000 per cent stock. Mr.. c. H. Brough
be editor is doubt fully convinced of the proprety Of
mission of Mr. j. Brough the Auditor, and pretends
o 10 understand the position of press in the interest of
be public. He remarks as follsws:-
housands of bonds in the hands of citizens Of
lew York and these injured benefited precise
those bonds ascredited or appreciated With
ottpe then to prompt vruIent far the
hfuences IN the city of New York are concerned but
th every motive to q different course growing out OF
gard for the nteres of Ohio bond holders there it not
range that, day after day, such systematic attempts
oud be made to break down the credit and Character OF
Sc the our State ~
Now that Mr. Brough, the editor, may have an answer
to motive, such as he can understand we will
orls of Mr.. Brough. the Auditor:-
Bound as the State u.s. by the voluntary pledge of her
h in the of March last not to make further saes
foregn stocks her authorities will be compelled to look
home resources - The heavy sacrifices that
already been made the part OF the State Of Ohio
maintain her faith with the holders of the stock. have
given to- and maintained for her. that character and
Eeaken in anywise the obligation and should not in
uce to any act by which that faith and credit may be
pmpromised There is much due to the present holders
stocks, ond by act should their value be wanton
\ impaired"
After this announcement Of Mr. Drough, the Auditor,
fr. Brough, the editor, will he at no loss to understand
by regard the issue Of per cent stock in this mar
in violation of Estate faith, act injurious to the
ckhoders destructive of their property, disgracefu to
and this uncture when American credit remains
hder cloud it matter which the whole Union is
erested, and which, as species of reputation,
lould be promptly frowned down and perseveringly
ndemned by every honest press and true friend Diane
AN to pay its citizens for work done. The summer clap
ID and the utmost efforts ofthe State officers failed to
oate that loan with the citizens OF Ohio. What was the
oper course to have pursu cd in the first instance Com
ON sense gives the In March, lS42 the credit of
the States was nearly gone. New York per cents
ere at 90 Ohio per cent sold at the New York Mer
snts Exchange at public auction at 90 cents on the
bllar These stocks had been pledged for temporary
an and forfeited by the State. In this state OF
Fairs Ohio owed its laborers 100000 for work. Why
not levy tax pay those menl They are not paid
@ but at the expiration of the time for which the pre-
mt per ceat is Offering, they will receive that paper at
mr. for their stock debts and sell for what they get
fer the failure TO borrow money in Ohio, on per
stock last year, the issue Of foreign stock for the
me purpose antamount to declaration the part
the Ohio Legislature, that if their citizens get
aid at ALL Tor work dcne, the people of New York mus
by the credit ofa State whose pghted faith bro
en- Had the debt been paid by taxation Ohio would have
ken the front rank New 70 k in February 1912 levied
tax 5000 600 to provide for possible contingencies her
per cents at 100. and these Of Ohio at 49, We
ave doubt that the people Of Ohio would have paid
,e tax cheerully. but their trucking, time.servng poll
clans and officers. afraid to ask them. Thetax
ved now after their property is wasted and their credit
blurred, promptly imposed IN the first instance, would
ave we'd their money and their honor No threats,
andors no base nuendocs of vile and vena press will
eter as from exposing such conduct as this
We yesterday gave table of the trade on the New
DIRK canals for two years, showing great falling of in
internal trade, for the year in value although the de-
inc in quantities was not material Deductipg the
erchandize from the results the quantities reduced to
bns present the following result as compared with the