Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1844-12-17

|tNNt' '"|'. L,
Iho
sshao| aa6s 81. .del $40 "a $50, $50 IA
oa|s'ahainq do - /
msliIe bonds, 20 ,6o03b 44,V5S eiO'
stiplns Tssenue
ssSaliss' 5o.5as 60 s,57l 40
Ene, loaned BY
i's., s : ''''' sa.4ol6l 4,o44 90
Domestic of .-
various Kinds, S29,432 Oh l,76o w
Grand sgg'ItSidis .,... ,,- ,,,,t
debt l9,276,1Sl 7sint,l, 'O7,4lo3e
The amount Of tie interest on the pup
III. debi, ihs present year, is about equal
TO one half Of the entire burden imposed
dp0n the people Of The BIaie by way 9
direct iAxaliOn. This public debt has
been conlr acted for the solo afPose ef
lhe construction Of .lublic works within
The State. The total 5clnal expenditure
Of the State in ihe public Improvements,
including lbe Mismia ExtensInD Canal,
amoua,s to SIS, 1888 90, which is less
than The amount 0 The Publiedeb'. This
Amount Of the actual c0stof the invests
menls 10 pubic ,tks, VIZ, ia plrl, pal d
By sliFscl tax levied for sums years for
thai purpose Ia paftihe grants CT land BY
Con atess. thssptOceels Of which amount
70 81 .357,743S AZ. About S2oo,0O0 Of
ahs bOads oflhe State have been reieem
ed BY the pfoCseds Of land sales. And,
besides ali Ihib, lhs. premiums received
on some Gf lne loans, and the doq9iioDs
Of lots and subscriptions, may be sale'y
esiima,ed AZ 50O, 900. itnpaears,tIierea
fore thai the amount Of tie pubic doa
contracted 6l ecgeuut ofihs public works
amounts 10 hsiwesn two and three mills
lions more than the amount Of the actli
al investment 81 the money bnrr0wed4in
illle public works. This amount, Of be-
tween two and three millions, has been,
il some manner not as yot fully explain,
ed, disspaled aud sunk ia The operation
Of financieFng IN the cfealiOn aud man
SEGMENT Of the Sisle dt6I.
Ataho close Oftpegear 1885, the Ohio
and Miami cluaisweto completed, and ihc
debt O. The Stale was than 81, 800 ,00a.---
The cliier part Of The State debt has been
CONTRACTED during lha lale swell aud 10
Ilux The paper money system. c0nmen'
eing With 1885, and ending in lS42, aud
showing. what similar ocCuuencss in 9th
ev countries and at other times, have
Mhpver failed TO axemplify, that govetil-
nent debt has been ths uniailrng con
comilsnt Of the growth aud expansion. d
The paper money system.
The honor snd'pnbliC faith Of the sIait
have hitherto ,bsen strictly preserved ,"nd
will, doubtless, ever continue 20 DO pre-
served, by punclual compliance will
ell our pahIiC engagements. Tbepbbli'
virtue Of our people, aud their pnuollt
regard foF their liberties and the chaIact
SFof fsbdtllcan institutions ID q su(IiciOn
ssusraaly Nat tho integrity OF the Slal'
will bs aspt insiOlale. The piblic debt
however, imposes. oueTous Burdens OF
the people aud creates hmm liatinG do.
pendencs on foreign captalis'ss degradio!
10 the independence and character Ol
lseemsn. mOre than a million of dollars
il drawn from the substance OF the Peo'
ple Of The Sials annually, aud sentioif I'
dischasee Ihs interest on the public debt
which, IN ils tendency, re.aTls our pros
peTiiy, and keeps up the halsnce Ofaade
aRainsl ns. Aud every ipusfeen Of til.
teen yeaTs, lh1 entire sinount Of the debt
viii Be paid ID inlefest,w while the burden
some principal remains, and continues lis
pspllelnal drafts on the products Of labor.
The svsteIn Of government debt. when
coatinusd In conjunction with a paper
money system, becomes u. engine oi I'm
menss polilical'po 'powsr,lnd the lnnre dan.
Rerous because, from the subtle deceit
snd complsxiiy Of lis operations, ilsbullds
upa fabric Of fac,i,i60s wealth, which
c0mpels The productive labor Of Ihccoan
! sry % become Ils humble and Obedient
anbisctsin manner moi readily seen Or
Understood. II Is an exempllhcaiiQn OF
b lael. thaiInan can be subdued and EN-
slsVsd more efeclualIy BY the subtle ops-
sslians Of money, than by arms. For
obnIusies the fsudat%ysiem II EdrOpe
controlled ihedlsifibuiions OF property,
and enabled ihs few 10 live in lidleness,I \
Iuxury and bfFluence, aud 10 keep The
maas Of people IL ptoverty,gnofance and
sauillty. Since the chains Of. feudal
hsnases have worn of, tho ingenuity Of
nan has devised the more Io6aad and in
eiilous machinsFy Of government stocks.
spoE noaey end specisl privileges, by
ehich few afe snEbledsO liSS on tho
pso6ls Of the llbof The mass Of the Pso.
Ire. IA
The fatal eonseqaences q such sys
ten 81 pollen, 10 ihe libsFllss and fnan
slal IntsFests Of she eonniEy, teach ns the
nsssssIly 0l iaking measlfeg, q due ilme
= asrssi iis progress IN Dis State Y ls
sst wilhinlho poweFbf The psople.Di Ohio
q pav Of their public debt The pre-
~ iIns 4 pscullarly ptoplliops for
aSepling . course Of measures ten1lAg y
- sLfn 1aNfeahla oh.