The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-05-01

There has lately been considerable speculation in all
descriptions of stocks in consequence Of the fluctuations
that have been caused by the excited state of the public
mind in relation to the political question at present in ag
ation The most important movement recently made at
Washington, the presentation of the treaty Of an
aexation with Texas Public opinion is much divided
this subject that securities experienced decline on
he reception of the Since then the excitement has
subsidized in a measure, and quotations for good stocks
nave become more settled The price Of Pennsy vana
state stocks in this market has, since our last o.
quotations. advanced very large per cent will be
seen reference to the above table, that the present
price III per cent against 62i the Both OF March
The in the Legislature of Pennsylvania since
the former period have been undecided and the fate OF
several bills introduced providing to meet the in
terest the public debt promptly SO uncertain that
prices for the State stock reached a very low point,
and speculation has been carried very largely Tho
present quotation showing great has been
reached by the passage of bill authorship the sale Of the
main line Of the public works of the State for twenty mil
lions Of dollars and helevyng of tax Of three mills on
every dollar in value Of property taxable for State pur
poses The sale of the public works is to he made by FORM
ing corporation and by the creation OF certain num-
of shares Payment for these shares will be received
from subscribers in demands against the State Before
this goes into operation the portion Of the bill
passed. authorsing the sale of the public works. must be
sanctioned by the people at the next annual election
This part Of u.s. therefore, still doubtful and every
who is at all familiar with the principles Of ory OF
the people of must consider that portion OF
he bill creating additional taxation, of very little use or
benefit There is power in the commonwealth to en-
force it. people already weighed to the earth with tax
will not nay cannot meet increased demands their
purses. The inhabitants of Pennsylvania would, no
doubt, submit taxation to great extent those Of
any other State in the Union, but people go be
nj tbotr Ia Tho La M
cup The of s4a is much than half collect
ed Such being the fact how is 1t possible that still
greater tax than that of s43 be- The only course
LEFT for the Legislature OF to pursue to sell
the works OF the State reduce the public debt much
possible and then the tax necessary to pay the interest
promptly, the balance, will be SO tring compared
with the present rate that the people would, no doubt,
willingly submit to the demand, and puncualy provide
the visits of the tax collector We have faith in the
anticipated dvantages of this "man line and revenue
bill" We not consider it likely to afford that relief to
the creditors of tho State many anticipate The members
of the Legislature have done their duty although they
experienced great difficulty in bringing their principles
up to an honest point The creditors of the State must
patiently wait the enforcement of the bill before they can
know the real value Of their stocks or when TO expect
| dividend
The Governor Of Pennsylvania has vetoed the appro
priaon BILL on account OF the clause taxing judges ssa
| res being unconstitutional On the reception in the
House Of message from the Executive to that effect
vote was taken on the final passage Of the BILL agreeable
to the provisions Of the constitution which resulted in Al
yeas and 81 nays consequently the bill was lost new
bill Tas Immediately introduced, embracing all thu pro-
visions Of the vetoed except Inc osctionab canse
which was Immediately passed. and sent into The Senate
The Legislature of this State adouns on the TIA May
The financial condition of the nth still
mains sound. Our works of internal improvement bid
fair be unusually productive this season, and the
oue from this will undoubtedly leave surplus in
he State treasury after meeting the interest promptly on
our large debt, and satisfying ell other demands upon
hat department An additional tax of one tenth of mill
been proposed in the lower house Of the Assembly 10
pay the unfunded debt of the canal.
The Session OF Congress is rapidly drawing to close
md as yet nothing has been accomplished The Tariff