The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-13

sey that the appointment will long deferred In JUS
uce 10 the solvent institutions this bank should be imme-
dis'ey put into liquidation The whole currency othe State
contaminated by having such base issue this mixed
up with It, The State of New Jersey has been several
times selected the fraudulent banks as
the Plained The people Of that State do not suffer so
much as those of the neighboring States. The laws
oil the State used to their illegal deeds The
Monmouth Bank of New Jersey was a fair sample of
these institutions The location of that bank in New
Jersey did injury to the general paper issues of the
good banks than they before received The Lega-
tureshould be more careful in granting charters. II is
much easier to refuse charter than to do away with the
injury shinplaster currency produces The Legislature
should see that the Commissioners good men and true
men who are not open to bribery-men who are above
the influence OF dollars and censas they viii undoubt-
edly have their faith tested on that point.
The Legislature of Maryland have adjourned without
passing the bills introduced in relation TO the State
debt works of internal improvement. The Hill lo the
sale Of the States interest in all public works passed
the House Of Delegates but lost in the Senate The
bill providing for the sale Of the bank stock owned by the
Sate appointing time for the State to commence paving
interest its bonds and for funding interest unpaid
Sc, was defeated in the House. The Legislature during
the session just closed passed three hundred and sixty
laws only one Of which provides in any way for the
ment Of the interest the State debt Whether that
will meet the ends anticipated remains to be seem 1t is
very doubtful.
bill has been introduced into the Legislature of this
State to authorize the Comptroller to receive certain
stocks of the United States security for the
by institutions under the Free Banking law This bill
designed to meet the Of recently organised bank
which had deposited $50 of stocks OF this State
$4,000 w. s. stock with the Comptroller that officer sup
posing that he had the right take the latter description
OIL Stock was engrossed for third reading in the Sc
nate
The various transportation lines from Baltimore to Pitts
ough are now receiving merchandise to be Immediately
dispatched. The Eastern and Western divisions OF tho
pennsylvania Canal active operation bearing East
and West the immense amount of goods that have laid
sui SO long, waiting the time Of shipment arrive The
channels OF communication with the West, through this
State Will not be navgable before the middle of April
Inc western lakes are all open and the arrivals and de-
partures from Buffalo and the other large ports daily
crease The vast quantities ofproduce at the West wait
ing the opening Of canal to reach market makes il
very important that some policy should bs adopted by
our State Legislature the Of these
large supplies and prevent the internal
other States from drawing away the resources on which
we depend to meet the heavy annual on our
large debt The only safe method of doing this is to allow
the railroads the line of the canal carry freight by
paying the regular canatol By adopting this plan the
resources of the State will be increased and the canal
tected will keep up the communicative with the est
and place us far in advance ofany neghb0rng State
securing the products Of the Western country The po.
cy ofcompeting the Erie Railroad very doubtful one
The building Of that road would undoubtedly attract
freight from the Erie Canal for which tolls could not be
charged This would reduce the receipts the State
vemmen and compel the adoption of additional tex
for revenue. The public debt has reached 50 large an
amount that every resource OF the State be made
available to meet the annual interest The most produc
tive property under the control of the State is the Erie
Canal and to that work must look for the bulk of the
revenue The Erie Canal requires protection and every
thing that directly indirectly draws from its
should be taxed sufficiently to make it good The pas.
sage ola law compelling railroads carry freight at all
seasons of the year. by paying the regular canal toll
would not only aid the different companies but would
increase the income into the State Treasury and do
with the demand for canal enlargement as it would he
relieved of the of produce and allow easy navigation
to the heavier varieties Of merchandise. The canals
through this State remain closed from November to
April full five months The canals of Ohio and rennsyl
vana remain open later and navigabe earlier in the
than those OF this State The western lakes are
covered with the increasing tonnage of that section full
month after navigation through this State ceases the
western ports stocked with produce laying like
much dead capital in the hands of the forwarders for
months The channels of communication with the east
that first open these supplies and benefit by
monopoly they possess Ter short period By granting
the railroads through this State, ending at Buffalo, the
privilege of carrying this produce it would accumu.
late, and the supplies would be constantly reaching
ket and the State would tolls on merchandise that
would otherwise have reached the seahoard throug
some southern route Should the Legislature of this
State pass such law, the necessity of permanent and
easy communication with Albany will be greater Peti.
tons have been laid before Assembly from the and
the west from Buffalo and Boston, praying for the
of law to keep open the channels OF communication be
tween the west and east the year through VIII lie the
citizens Of those sections making the necessary efforts
to that desirable end the capitalists of this city
should place themselves in position to receive equal
heneht from this In the event of the passage of
law to the effect above spoken Of there be railroad
between Albany and New York It matters little what
route is selected That which is the cheapest and short.
est would be the desirable. The subject has not
yet created much excitement but the time is not far dis
tant when the inhabitants Of this city will find they have
effort make secure the immense trade with the
west which they now enjoy.