The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-04-02


that there is specie enough to afford circulation
The Auditor OF the State of Illinois in his report dated
February 49, 1s4s gives following estimate of the f.
that State from March instant Deem
Der, le44, when the Legislature again meets
FINANCES ILLINOIS lS43.
will exhibit by strict calculations, the future
suits Of this policy.
The revenue in arrears previous to the year
lS42, is $50 000 deducting for loss and ex-
penses of collection this will net about $4,000 90
The revenue Of 1912 not yet collected, is &C.
cording to the present assessment, SITS 1872;
deducting one half for the reduction of the
tax, it will be $50 SAG; the average loss on
collection is about II per cent, leaving ~
The amount in all probability, derivable
from the revenue of lS43. at 20 cents
each 500 worth Of property, will net
about 10000 90
Making the whole receipts of the Treasury
from the first Of March next until the first
OF December 1874, when the next Legisla
will convene $2l1 ,249 90
We may calculate, however,upon about sao-
rears, 10000 90
Making the actual receipts about $l9l ,249 90
The demands the Treasury from the first of March
next until the first Of December lS44 including the inte
rest the School Fund for the year ls43, will be
$4,000 90
To which add the deficit in the Treasury on
the first of March next, s,l6s 90
And will make tho whole sI20iS0 90
Deduct this from the amount in the Treasury,
and it will leave q balance on the first day
of December, 1874 of $82, 900 81
This amount may be increased by rerenchment, d.
minished by special appropriations.
OF this sum, $42 600 in addition outstanding,
will be needed defray the expenses Of the General As
semby in 1884, and the balance of $4,000 may be applied
to portion Of the bonds deposited by the
present Fund Commissioner with the firm of McAlster
stebbns in any other way which the Legislature may
deem advisable.
The of 1874 and 1885, upon this principle will
progressively increase the surplus, and this surplus
be regularly applied to the extinction of State indeb
edness In this way system OF policy may be establish
ed this session. which will lead to the OF
State debt and the consequent elevation Of State.
The Legislature Of Illinois meets every years only,
and all former sessions have been only biennial records
extravagance and folly. The present legislature has
however, devoted itself with energy and ability retriev
ing its affairs. They have suffered unmeasured abuse
from the tools andorgans of the fund monger whose
sdous friendship and parasite advice involved them
debt beyond their Of and when the inability
to pay discovered turned upon them like famished
tigers The sturdy farmers of that State have however
neither been inundated by threats which, it will be
menbered, were Illuminated in the New York Courier Of
"msrchng into the State and compelling them to pay At
the point of the bayone' have they gone crngipg
and trucking to Congress- with their greasy caps their
hands, the Cost johnson plan. begging for aims and
pointing to the unndebted States, exclam like Falsaf
let them pay" But with cool judgment and determined
perseverance, they first struck at the of the evil
and rootedup the banks which like the "upas struck
their poisonous roots in the virgin soil of Illinois, and
extending their malignant influence the fair
surface Of noble state That DONE they applied their
public works to the best advantage, reducing their
debts to the satisfaction Of their creditors and now
organizing a system of finance and economy by which
the fair fame OF the State will be restored to pristine
purity