The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-12-17
about fifteen millions OF dollars.

The debt of Louisiana is larger for every individual
than the debt of any other state but the $40 per head
in Indiana and 500 AS per head in Illinois, weighs heavier
those young states than thrice the amount would
the citizens of New York. Pennsylvania Tor louisiana
The immense amount of taxable property in those old
states will allow trihing create large
tax in proportion to property falls very lightly upon
states of vast wealth. This is not the with the
aedged western states, of small populations limited re-
sources and ring value opropery These facts should
have deferred those states from becoming deeply in
voved in debt They should have taken the second sober
thought which would have permitted them to have made
correct estimate of their ability to payfher engagements
The times completely out Of joint that the fnan
ciers Of the day, individually interested in the
creation of loans than the people, who responsible for
the amount Thew wanted the money and sacrifice
would deter them from obtaining ita
The State of Indiana admit their inability to meet the
interest their debt but the present legislature displays
disposition to do far they able If they
pay five per cent their total debt they propose pay
as possible to it. This example should be
followed byal the nonnteres paying states in the Union
is curious fact that the states Of Indiana and Illinois,
the two youngest states in the Union states whose ci
less able to meet the demands arising from the
public Indebtedness than those of any other in the
whole twentysix have made the greatest efforts to no.
nesy pay all in their power and the total de.
mands against them at every sacrifice The disposition
to act honestly against difficulties achieves half the bat
tie The taxable property in Indiana at present is valued
1924 69 yielding at 40 cents $49s The taxes of
the state principally paid in state treasury notes.
These notes form very considerable portion of the crcu
laon in many parts of the state and pass value below
par On their receipt into the treasury they again
issued but the Governor proposes making loan sufficient
ly large to deem the whole amount aAoat The
expenses of the state for the past reach, $9Oss7
| and the receipts to $780, 900.
The state debt at this moment amounts to full fifteen
millions of dollars, which is constantly accommodating by
| the addition of interest unpaid
INDIANA STATE DEBT.
| State bonds sold for account of Wabash and
! Other internal Improvement bonds sold prior
to the 3lst October, 1899, and heretofore re-
ported to the Legislature. .......... $685., 900
Bonds entrusted to the Morris Canal and
Banking Company in 1898, to be exchanged
for other bonds, said to be informal, but
which have been wrongfully withheld and
disposed Of by said company, and which
| it now alleges its inability to return
Other bonds sold to Morris Canal and Bank '''''
ing Company, in 1882 not before reported. 10000
Bonds sold in the fall Of 1899 to banks in
Buffalo, New York. ............... 262, 900
| Bonds sold and delivered to Company at Madi-
| SON for account OF Madison and lndianapo-
Bonds issued to iawrenceburg and Indiana '
polls Railroad Company. 22 900
Bonds issued to bank for advance of fourth in.
staiment surplus revenue 29lOOO
Bonds issued on account of State Bank, Tin.
GLIDING Mr.. Merrills 81 900 loan,j... aa9oooO
Unfunded debt due the branches of State
Bank. for advances on public work in 1889,
about. ...... ......-..... 692 43S
Treasury notes issued prior to this date. . 1854 900
| Unpaid claims for operations the present year
on Wabash and Erie Canal. ........... $4,000
Unpaid claims public works, for opera
tions previous to ls4O, and which will be
| paid by further issues Iof Treasury notes,
estimated at. ........ $4,000
Sl3667 433
Two years interest unpaid at per cent. l400 oil
Total amount, JAM LIST, ls43. ........ Sl5O6s 344
The small settlements since have not much more than
the amount of interest that every year.
that at this moment the debt varies but rie from the