The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1843-07-08

was ACKNOWLEDGMENT ana conditions
were imposed which may be found i'm.
practicable. fl may be modified and car.
ried into successful operation.
That measure is one Of great relief.
The property Of the State N the Pub.
lie Works is valuable and ailable fund
1t is but an obvious suggestion Of jus.
lce that, in our present difficulties, tina,
fund should be employed towards the H.
quotation Of the debt. Apart from its
value in this respect, i! is better as a mat
ter of good policy, that the State should
be disconnected from The Public Work $
which, very manitestly, the State is una
bic to manage with any advantage to the
people. They furnish temptation and cp-
portunity to political corruption and
ought to be kept aloof from all political
control.
We have already stated that the deb,
is os.easi,'y SOM ...teen millions Of dol
lars.
There is reason 10 believe that The
States prorerty in the Canal can be sold
for Five Millions. payable in State bonds;
that the purchasers who get it at that
price will find motive to accomplish, what
on all sides is so much desired, the COM
pletion Of the work to the Allegany. II
they purchase at all it will be with that
view.
The State now holds four millions two
hundred thousand dollars in the Balti-
more and Ohio Rail Road Stock. This
interest can be disposed Of at the par va
lue in bonds,--that is to say, they can
get four million Two hundred thousand
dollars Of their bonds for it,
I heir interest in the Susquehanna
Rail Roau and the Tide water Canal,
may probably, If not now. very soon
neutrality-suspicious. two millions in
bonds.
These several sums amount to eleven
MILLIONS OF dollars in the bonds of the
State, which being cancelled, would leave
but four millions of the original debt UNI
paid.
To meet this debt Of four millions the
State owns upwards of half million Of
;'lnk StocHs and has, besides, sinking
und, amounting to nearly twelve humid
red thousand dollars.
The residue of actual principal debt,
uncovered by means at hand for its re-
!emption. would consequently amount
o very lillle more then two millions and
A quarter. The arrears OF interest may
oe estimated a. one million raore Thus
lie whole State debt, principal and in
crest, beyond the funds in possession
would he reduced, if this plan should be,
vigorous y and successfully prosecuted
% sum little exceeding three millions
md a quarter; requiring about two humid
ed thousand dollars IA year for the in
erest.-Thls sum may be raised by tax
If one dollar on the thousand of asses
'ed property.
If it were but a mere question Of mo-
ley, and net one Of honor and good
alth, is there any thing in this view oI
III Condition TO excite the fears OF Us
ily the dependency OF those who are,
n who affected to be, so much alarmed
It our debt2 If this plan Of redemption
hould not be fully realized, and the resi-
|uc Of debt left behind were twice what
We have stated it, doe present a case
0 excuse one OF our citizens for pro-
tanning the State i; ii, q lnsolveut.
" reason o. ueo ing 10 year
y charge of one d"llaT on thousand,
" two dollars on thou'aad2 A farmer
With real estate, valued at ten thousand
ollars, and mortgage upon it for ten
ollars or twenty dollars payable yearly
thai charge to be equivla>
ent to bankruptcy Who can credit tina,
UGH an estimate is made of Maryland
il'h and houor by any man within her
onfness II the whole debt were stated
t five mlllions-our assessment being
bout two hundred millions, as the valne
# all the property of the State twenty
ollars paid on every thousand would
xtingush the whole debt, principal and
interest. There are many nations in
which the people bear heavier tax than
his per annum. The contemplation of
MS aspects Of our affairs surely presents
othng which vlrtuous resolve and pa
lent perseverance may not successfully
ncounter!
The public works are chiefly benef-
ial in the aids they supply to agriculture
nd commerce-no, in the annual divi-
ed profits they afford to those who make
hem. The Baltimore and Ohio Rail
load, il is said, transports near two hun
red thousand barrels of flour a year,
his is done upon all average cost Of a
out thlrty-cents on the barrel. Before
ne construction Of that road the carriage
f flour for the same distance, cost an a
erage of one dollar and quarter. Here
) saving in the transportation of tina,
ngle commodity; on one roeJ--to say
othing of the Canal--of about one hun
red and eighty thousand dollars a year.
his saving or gain-for it is clear gain
-accrues mainly to citizens of Mary
md, and would alone ray the interest on