Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1844-12-13

W NH5 UNI bI lHt GUllfb DDFUth tittS
posed upon the people uf the State hy
way OF direct taxation. This punlIc
debt has been contracted for The sole /
purpose OF the construction OF puo ic |
works within the STATE. The total &C |
luaI expenditure Of the State in the pub
lie improvements, including ths MIaml .
Extension Canal, amounts to Sis,75j !
76 90, which is less han the amount of
the public debt This amount OF the
actual cost Of The investments 10 pubic
wofks. was, IN part, pat by a direct t8X
levIed for some years Tor that purpose
in part the grants Of Iaud by Congress
the proceeds Of which amount 20 g..
357 TAB 43. About S200 900 Of ;be
bonds Of The State have beeu rodepmed
by The proceeds of the I,nd sal Ard,
besides all this, the prsmtu as received
on some OF the loans, and the dona ions
OF lots and Subscriptions. may be sifeIy
estimated al $4,000 Il appears,
therefore, thai the amount oI the pupifc
debt contracted on accnun, o! the ?uhiIc
works. amounts 10 between twu nud three
millions more than the amiun' pt the
actual lnsesIment Of the moary rrow,
10 the public works This amount. oi
between IW0 and three millions, h E
been, Ia some manner nol as Iet iulI
explained, d,ssuPa'ed and sunk 10 the
operation o. financieHUg 10 the creation
ami management Of the Stale debr
Az the close of tbs year 1885. the
Ohio and Mani canals wers competed,
and The debt OF the S ate was nan S4,,
500 600 The chef par. Of the Sac
debt has been eontrscsd during the
late swell and rCAux in tn. pappt mo
nev system. CONNIE ocIng 10 1886 and
ending IN l242 and showirg what sim
liar occurrences IN other countries and
at other TIME have never talsd to ex
cmpitly, that goVSrnment dabt has ben
the un'ailtag coucomi!snl OF he growth
and expaDslon Of the paper money Sya
fem
The honor and public faith Of the
Sate has, hitherto, been stticlv pre-
served, and will, doubtless, ever con
tuue to be preserved, by p0nrrua
compliance with az our public engage
menrs The pHbIc virtue Of our peon
pie, and the patriotic regard Tor heir
itberllts an the character Of republican
institutions, is a sU(i guaranty thai
the integrity of tn" S ate vii, be KEPT
lnvolste- Tho public debt. however.
INnns"s onerous turdrns on the people,
aud cres'es hunt iatng dependanre
on foreign capitalists, deera ing to the
Independence and character Of treemeo
More than million OF dollars is drawn
from the substance oI the people oG the
Stale onnusIIy. aud sent IF to d,echnrge
the interest on the public deb, which
in lts tendency, retsrds our prosperity,
aud keeps up the ba'anca of trade a
gaiuat Us, And every fourteen cr e.
teen vears. the entire amount Of debt
will be paid in interest, " whlle the bur-
densome princpal remains, and cou,ln.
Ues lta pefpe usI drafts on the products
ot labor The system of govern ment
debt, when continued IN conjunction
with paper money system, becomes an
engine OF lmmenae political power, and
the more dangerous because. from The
subtle deceit and compIcx,tv of its ops
rstians il hurtds ura fabric If far''iona
wealth, which CompsIs the productive
labor Of the country to becpme lls hum.
BILE aud obedieOt subject, in manner
not readily seen or understood. 1t is
an exempiifcaIon OF the fact, that man
csn he sub6ued and enslaved more ef-
tectusIly by the subtle onetalioDs Of
money, than by arms Far centuries
the feudal system in Europa controlled
The distribution Of property. ard enabled
the few TO live 10 Idlrness. luxury and
afflpenCe, and TO keep the mass Of peo,
pie in poverty, ignorance and servr,ty.
Since The chains Of feudsl bondage have
worn of. The ingenuity OF man hss de-
vised the more refined and nsIdious m j.
chinery Of governmeOt socks, paper
money and special privileges. by viii h
few are enabled to live on the profits
ofthe labor of the mass Of the people.
The fatal consequences Of such a sys
tenn Of policy, 10 the liberties and 6nan
al Interests Of the country, teach ns
The necessity oftAkiog measures, in due
time 10 arrest IFS progress IN 'hls Stat"
1t is ye: wlrhiO the power Of he people
Of Ohio to pay oftheir public debt The
present time is peculiarly propiIions for
adopting course Of measures tending
10 The accomplishment Of this desirable
object recommend. therefore, TO your
speciR attention, the paramount impor
tancc Of devlsing vigorous, decisive and
efficient means ior the ultimate and en-
tire eXtiOgulshment OF The debt OF the
State.
Civil government has no higher or
more sacred function TO perform hau To
rrOIoot l., ,I,o I,,II