The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-23

bill has been introduced into the New Jersey Legis
ature by Mr. Irons of Monmouth repeal the charter of
the Monmouth Bank. We trust the bill will become
law to the great honor of Mr. Irons.
Much anxiety is felt in relation the state of Ohio
With small debt compared with her population and re-
sources her credit lower than that any the States
which continue to pay their interest. This seems to
grow out of the fact that for the last years
have been managed in most improvident manner She
has followed directly in the track Of Illinois, Indiana and
Pennsylvania in borrowing of banks selling them the
right to suspend and deraud the public and when that
resource failed has not scruped sell her obligations at
any price to get money She has borrowed of any and
every body that would lend hersmal brokers in Wall
street. and big brokers in London giving them the priv
lege Of selling her stock they pleased reimburse
themselves She has thus become their prey and they
have put the market up down her expense to suit
their own speculaons The plea for all this profigate
extravaganza has been that she large public works in
process she complete because
she could not dircharge the hands This gives the clue
to the proceedings, and amounts to the fact that the
party in power for political reasons dare stop the
works until better reasonor finishing them for fear they
should lose their popularity Therefore the whip and
spur applied to get money The authorities of great
and sovereign State running the country
"cap in hand" supplcatng the door of every little
shnplaser factory and entering into conspiracy with it
to cheat the people for the consideration exchange of
credits When this exhausted all the money shavers
and bursted brokers from Cincinnati street
were suborned to raise money and all because the poll
tcians were afraid to rely the good and nte
gence of the people regard to the affairs of Yet
the segacious and Executive affect to wonder
at the ruin the State credits1
Its affairs are now not past retrieving
is exercised in their conduct Let look what was
actually done last year. according to the Auditors
report
Money raised Payments made
s"" sslsl Expenses sa .sq borrowing ls ssss
Premiums, 1854
Total borrowed. l.1ss,a5s i.lse 722
&c. 'i Sn S ss5 ssss3
Regular revenue. ss.s 60, Isl '.72e
Total money raised 2,t866I Total paid, 2,6ea ash
BY this operation OF borro wing pay debts the
charge upon the State has been increased $ssO00 during
the year, which is than the works completed
will probably yield in nett revenue 1t appears, how.
that the regulr permanent $3.50 44O
with falling off in tolls and the interest the debt
1898 6ss, showing def ency, if all the ap.
piled the debt of 500 The years interest," in
consequence Of the late sales of stocks pay debts will
probably be ST. 100 s00 and the will be increased
by the tolls ofthe canals perhaps $50 oO and
other canals probably 100000 and from taxes su
cent to meet the interest The report states however
that 50 500 900 is still wanted to complete the Miami
tension, and pay the floating debt To raise this in
the OF the last year. will require of least
OOO increasing the annual charge s22sOOo. This
will be beyond the ability of the II idle the
officers to talk of the exports OF the State and the value of
its land. Let them show what is the pro.t pork at
cent per b. and -four at 50 per bbl They will then give
the ability of the farmer to pay higher taxes.