The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-03-09


orsIs OF ONO BILL TO COMPLETE MIAMI
CANAL
he Miami Canal has cost 81, 9l2 which will be
Productive without the completion Of 70 miles, which
cost $685., 00O
&c The Board public works authorised to put the
aiming 81 miles under contract and to issue in pay
b 1857 900 of domestic bonds
&c D. The so7 900 Of bonds are to bear interest at per
cent payable semiannually at the State Treasury
mable at the pleasure of the State after 1863. To be
ed in denominations OF $780, and 100000 Of the
punt to be receivable in payment Of the Miami extern
canal lands
co. 2. The Board shall give the usual notice of let.
&c. L. Provides for the manner of letting.
8. The estimat es Of work done shall be made eve.
days, and the amount paid in the bonds here created
he contractor.
er short session, Congress has at last adjourned to
great relief Of the public generally and congratua
ps exchang ed that more harm has been done
of the last two years have elapsed since the
sent government came into power. The state of the
easury was then as follows
sh venue aud Direct me ans for l84l, $2,723473
fimated expenditures, 1920 600
Balance for 1871, s5.473,473
tstanding Treasury Notes, 4,500,000
Balance at the close of isal, sN,1s
the I'd Of March there was in the Treasury in
I'd issue Of Treasury Notes authorised, 5000 900
Cash means. March. 1871. 100000
IAN extra session Immediately called for the follow
leading objects announced in the government or
in -
The distribution of the proceeds of the sales of Public
Lands snong the several States.
revision and augmentation of the duties on imports
the purpose of securing from that source revenue
adequate to tho wants of the Government.
The repeal of the Sub Treasury law
The establishment Of fiscal agent central other to
aid the Government in collecting and dsbursing the
venue and equoiixing the currency.
temporary loan, ii necessary, to supply the imme
diate necessities OF the Treasury
As soon as Congress assembled it became evdent
lat Bankrupt Law also leading object. The Con-
ess then brought together has dissolved, after
feping the country for two years convulsed in a
perate party struggle questions involving the vital
of the people, and the results are that the debt
|hich 81 500 oOo is s27 100000 The Land Bill
passed and repealed The Bankrupt Law passed and
pealed all the Bank and Exchequer schemes mscarred
nd prohibitory tariff the only monument remaining Of
wisdom defunct Congress- Instead of expend
re Of $40 for the two years. they have spent $72
oOO the being the amount to which the debt
acreased The dscredit attending the of tho
dera government its vaclatng legislation and violence
party spirit have done to destroy public credit and
ure the standing Of the several States even the
allure of the States themselves because they have so
lesry demonstrated the utter instability of all property
nder such legislation. The establishment of National
ank for the purpose of regulating exchanges" and
equalzing the currency" No such institution however
been established. Let what has become of the
xchanges which the lawyers and Spectators wanted
,uch regulate all for the welfare of the dear peo
le" The following table shows the rates of domestic
ills in New York the day the extra session called
nd the rates now that Congress has adjourned without
avng regulated them