The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-10-16


the complexion of the political Of the day
Although the elections which have place IN the de-
nquent States have been conducted with the greatest
silence, SO far the public Indebtedness is concerned
there appears to be very general opinion among the
rators in State stocks that should the party favorable
distribution Of the proceeds Of the public lands among
the states come into power the actual value the stocks
will be greatly increased and the creditors OF delin
quent States greatly benefited This however, all in
the prospective, and may be realized but the
tcipations have q very favorable influence on
Quotations among spectators. A we have before
remarked, the subject of State Indebtedness has not
been preached by any of the party speakers previ
Gus to any of the elections in the delinquent
States. This shows that there exists in the minds
of the leaders OF both political parties, dread Of
touching the question when parties 80 equally dvi-
ded They afraid bring before the people another
issue, and the mutual fear exhibited in relation to this
subject shows that would be considered AZ unpopular
movement in either party The pople in the most heavi
iy indebted States have heretofore been oppressed
with the weight Of taxaton, and havcg once thrown
it from their shoulders and passed through the ordeal
they evince very little disposition to again the
burden while there is possibility of getting rid OF it
In Pennsylvania the people have conseled to the sale Of
the main line of the public works, and the State
mssioners have tue authority to proceed and take
the proper steps to sale. No doubted
but that the voters Of that state would consent and the
large majority favor ofthe SALE shows that the people
are in of any plan that may be devised to pay the
ate debt annual interest, but esert to taxation
The principal interest the debts of the delinquent
States Of this Union, will be paid by taxation We
have been convinced of the truth of this remark for
long time and every movement Of the people regarding
taxation confirms it. The Commissioners OF the Illinois
canal loan knew that the people Of that State would not
IN thavxu
led to abandon the negotiations that point and propose
other terms to the bondholders security for their
ces and the known feelings Of the people Of Illinois a.
regards taxation may defeat the negotiations Of the
mssionsrs both in Europe and in this country SINH
lar feeling this subject exists in all the other delinquent
States among those able and those unable submit the
rate levied and have doubt but that the ancipa-
tons that the public works will be sold will retard the
movements Of the tax collector, and between the two
plans adopted by the last Legislature for the qui-
dation of a portion OF the debt, and the whole
amount Of interest. the whole arrangement may
fall to the ground Every thing connected with the State
debt OF Maryland remains in very quiet slate The late
election in that State like that in all Others was conduct
cd for the spells Of once and tor party ascendency
than to advance the prosperity Of the State its works
Of internal improvement We have heretofore repeated
ly assertedand the movements daily made in all parts Of
the country CONFIRM that the public creditors Of the
delinquent States must look to the producveness Of the
works Of internal improvements in each State any
returns, dividends on their stock All other re.
sources viii eventually fall and these works. to
struct which, the immense debts have been contracted
will have to provide the interest the cost When
these debts were contracted by set Of specializing
politicians, the people were told that taxes would be
requreato pay hem that the immense revenue from the
works as soon as completed would pay the whole cost
that the people would be vastly benefited without an
outlay Of dollar Of their money; that the wealth and
prosperity Of the State at large, and every individual in
1t, would be inci eased tenold These were the false
lights held out to deude the people, and most thoroughly
have they been deceived but in return the people have
aword to say, which is, that if these public works do moi
cannot pay the interest The debt contracted to build
them, it must 80 unpaid, already taxed enough
ond resist any increase. This is called population