The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-01-13

clared semannua dividend of three per cent The Mo.
bile insurance Company dividend Of sixer cent for the
last six months
The Committee of Ways and Means in the Legislature
Of Alabama have reported bill which, if adopted
would produce annual receipts from taxation amounting
to about S3500OO provides that all the lands in the
State be divided into four classes 1he to be valued
SIG per acre. the second at So tn third st. and the
fourth at 81 25 which tax Of rs cents every 800
value shall be paid From lots anil buildings on
every $780, slaves ten and under fifty years of age
dollar per head under ten tw entyve cents White
males overwenty and under forty five years cents;
male free negroes twentyone years. 50 per head
gold watches, 81; silver do 80 cents; money loaned at
legal interest," 25 cents the $780, money used shaving
30 cents every 500 of paper shaved exchange
dts usedn the purchase of hank bills bills ofexchange
l2 cents on every 500 purchased Sold Factors Com
mission Merchants and brokers' 25 cents every 500
of income; merchandise sold 30 every $780, on
the professional income of lawyers ply scians bank Off
GERS officers Of colleges clerks &C., 80 cents every
SlO0 There other State IN the Union that has adopted
SO rigid policy regarding the State debt and banking
system as Alabama The banking system that had grown
up in that State was corrupt and blgh in its
tendency than that Of any other. The evils engen
dered have nearly all been rooted out and gwen place to
more moderate healthy currency. Her State debt still
weighs heavily the people, but the adopted by
The debts due from State governments will be
lquidated Our most wealthy States find it difficult to meet
the annual interest prompt payment Of the annual d
vdends much as the most prosperous
will ever be able to pay This is all that is wanted:
Thousands have made these stocks investment and H
they want is the interest This they look for, and
eventually will receive in full. The stock will o,
course be continually changing hands, the credit.
tors viii change from year year. but the Indebtedness
vii never he wed fhp at
for been unable to pay the rng portion of
the interest due must receive other aid than what
they have within themselves to take great step as
the payment ofthe principal
resolution has been introduced in the Legislature OF
Pennsylvania providing for the State debt After stating
that the public debt amounted to nearly $40 900 000
that many too well acquainted with the resolution
proceeds to state that the of payment should be
drawn from sources the least burdensome and
mends the sale of the public improvements of the Sae
and the appropriation by Congress of much of the pub
lie lands Of the United States the proceeds thereof to
Pennsylvania, as would extingush the State debt and
free the people from taxation. The last resolutions
are SO rich and important that will not abridge them
Resolved, That recommend to senators, &c. in
law authorisng the issue of 5000 900 of stock
distributed amongst the several States proportion
her federal and to BY the United
which lands shall be pledged for the redemption Of stock
SO issued.
Resolved That should the proceeds of the sales the
pubic lands be insufficient for the redemption of the
stock in reasonable time that ways and means should
thus be raised by Congress- by levyng such additional
duties on foreign goods as may be necessary.
This is providing resources with a vengeance Our
tariff laws very valuable feature in the government
they looked to for protection for revenue and now
we have new benefit proposed to be derived from this
important act the Of the State debts Desperate
diseases require desperate remedies and the gentleman
that introduced the above resolution into the Legislature
Of Pennsylvania, must be of those modern financial
genuses that think the end usties the means. The
people Of that State have the ability the ineres,
on their enormous debt independent Of any
aid and their representatives in the Legislature have only
to boldly meet the ISSUE and their constituents will abide
the consequences The sale of their public works would
relieve them of portion Of the debt end the won
benefit the people by cheaper of their facilities for
it is a settled maxim, that individual company enter.
prise outstrps that of governments The result would
be cheaper rates of transportation consequently by dis
poal of the internal improvements the population would
be douby benefited The ramount Of the debt left after
this would rest point that the State could pro-
vide interest for, without taxation. That debt
would be permanent, and would be just burdensome
enough to prevent further taxation necessary