The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-02-02
ToaI, l,l77,653 l,olO,753 l,I38342 7se57O
The aQoreaates are IS falloxrs for h. xaura

This return gives healthy reduction in the
of these banks far The banks of West Jersey
have resumed during the year. and is in their returns
that the greatest reduction Of paper is apparent The
quantity ofpaper circulation now that State is larg.
than in the great State of Ohio and still greater than
possibly be required by the business of New Jersey
The profits ofss much capital employed in banking is
greater than the produce OF that State bear
greatly TO mpoversh it. reduction of one half would
be of infinite service to the productive classes.
The position which Illinois has assumed in regard to
her debt will be probably OF infinite service to the credit
ofthe Union Without looking for reefout of her own
resources or claiming assistance from the citizens other
States to help her out of the difficulties in which the folly
other rulers involved her calmly
the extent Of her Indebtedness looked up her resources
and projected plan by which those may be
turned to the best for the benefit her creditors
This is manly and straightforward course and from
which her creditors will derive than from paper
scheme that be devised She boldly faces the conse.
quences of her and endeavors remedy them
without shutting them off the shoulders of the pru.
dent citizens of other States What contrast is this to
the conduct of Maryland! Plunged in debt she makes
effort to meet the claims upon her, but her politicians
ploy their time in getting up schemes of assumption by
which the citizens of New Hampshire, Connecticut and
other States which have uniformly opposed the conrac
ton of debts to be made pay for the money squan
>dered the Maryland bitches Vast attempts been
made to manufacture public opinion in relation to this
matter of assumption but only those who expect de-
rive direct pecuniary benefit from operation are
attracted by it, and its Elusive nature is palpable to fix
the attention Of reasonable In relation the pract
cabity of the matter may turn to the speech of Dan
el Webster Esq made in Wall street Oct o. s40 just
fore the election OF General Harrison. On that occasion
he remarked as follows
But then it was said that desire make an assump
ton by the general government Of all these State debts
NOW there not particle Of foundation -nothng
IN the world to justify 1t and don't know a in Com
gress mat enteroins the opinion did that Congress
nas we constitutional rower 10 the State debts
oouu exercise 1t II it had the power Why, Congress
sh as Justly assume the private debts Of an individual
me may as well assume the bonds Of Mr. Astor as the
bonus Of New York
et ms co intry in the latter end of Nav 1890 and nj
u ,, nao seen In no one newspaper heard from
ne Ps OF any living being the least suggestion about
this thihg. went to England, and il was a most oomy
time IN England as to every thing respecting American
commerce and the State debts but tell YOU upon INV
honor That no English or European Bank no English ~
European holder OF American State debts ever SAID ons
word suggested me, in my hearing exnressed IN
remotest idea notion of the ion of Thai deb
any guarantee Of them. (Appause) Once abroad ala
hear 1t mentioned by American citizen fod S; jSs
project whoiiy and nepsr cod 10 ac
eomphshed in short, the consent Of the people TO MAKE