The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-07
l.637, 1923 l,ls5,225 1867 723 1888 80
3l7.837 81, 900 1880 III Of
slalo en- 4, o6s 925 a ASH 17s A 3ga {


BY this we gradual decrease in the amount out
standing having been reduced since December about
million of dollars The issue has increased very
pidly, having since December risen from $43 900 to
$is950 These notes pass into general circulation and
are received for all due the government The de-
crease in the total has been the old ISSUES.
The Legislature Of Mary will adourn sine die on the
9th inst The most important bill before the House. is that
proposing loan the Chesapeake and Ohio Canal Com.
pany The company ask for loan of 81 800 900 to
pete their work. They ask for issue of State Bonds
to the Of 50 900 0O0 to allow margin su
cent sell and net the required amount The bill has
met with great deal Of opposition and the prospect Of
its passing very dubious Its becoming law would in
the public debt and burden the people with add
tiona annual interest OF about$ making the total
nus necessary to be raised for the payment of the ne
the whole loan from heSate this
three hundred thousand dollars The work in its present
Is unproductivet allow it to remain u.s. would
sink the immense already expended in its
ton The outlay OF million and half more is estima
ted will make the whole sufficiently productive to pay
the interest the amount loaned The Legislature has
passed bill creating to pay the annual interest
the State debt stands The ofhe State
aer the provisions of this law enforced will be
sufficient TO meet all the expenses OF the
The tax placed at the lowest per cent the committee
estimating that the State debt would not be made larger
than the present amount and that the receipts from pub
lie works would steadily increase. The income of the
State will not admit Of much margin for inc reased expen
The advocates of the loan to the Chesapeake and
Ohio Canal Company argue that the income Of the canal
will in very short time. relieve the State of the bur
den of taxation for interest the amount. Such
estimates very dangerous The same caicu
latons made by every State in the Union, at
the time Of contracting their immense debts The friends
cfinternal improvements in Pennsylvania anticipated i'm
mediate and immense receipts from their canals and rail
roads. They for a moment believed it could be
otherwise The result varies great deal from their esti
mates The Legislature Of Marylsn have before ii the
experience ofother Staes has within its jurisdic
ton evidence Of the uncertainty Of making calculations
far ahead saien Of Maryland 6s have been made in
Baltimore since the passage Of the tax BILL at 80 per
This does not show much improvement, the rates
ruled higher than that previous to the bill becoming
law.
The movements in all the legislative bodies in the
country will not amount TO much "a anticipated The
passage Of acts providing for taxes interest
the public debt does not reach the point proposed The
people Of Maryland have publicly refused to submit
the conditions Of the previous tax law Several counties
have and the tax collectors scarcely
escaped with their lives With this fact staring them
the face the Legislature Of that State cannot expect the
new tan bill be enforced at first, If II Is ever submitted
to- The Of the people Of that State have
performed their duty towards the State creditors.
The Legislature Of Psunsylvans have not yet taken