The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-12-31

Syracuse Utica Railroad III alzo iiS a., III Ais
Auburn Rochester K r.. iSsxaiOs o7 aioi1 lO7 alos
will be observed that there is little variation in the
quotations for the really good stocks while those of de
lnquent States have, since the recent reports their
financial affairs, declined very much. Indiana State
stock has fallen off per cent. Illinois stock, immediate.
ly after the Governors message out, deprecated
four and five per cent but through the influence Of stock
obbing quotations again reached the point they fell
from Ohio SIS have declined several per cent than
the dividend deducted United States "a and 6s do
quote Those stocks will be paid to morrow the 3lst
inst and may be considered out Of the market Stocks
generally have been very quiet for sometime past and
will doubtless continue SO until Congress makes public
in way the policy to be pursued in regard to
foreign relations Congress mas been in session four
weeks and nothing has been done and, from presenap
pesrances, we should Judge the whole term would be
used up in the way. All the people want is to
know what both Houses intend doing, IT matters very
little what II is.
Tho legislatures session OF those States not payin
the interest their public debts have not made single
to bring about desirable object Not the
first feasible plan has been proposed and the terms are
rapidly wearing away without meeting the most impor
tant question before them boldly and resslutely.
bill has been introduced into the upper house Of the
legislature Of Indiana relative to the State debt Is
proposed the committee introducing the resolution 10
teres making the total of $40 This amount
to be taken up by issue Of bonds, bearing three
per cent interest," the interest payable annually and the
principal after the expiration Of Thirty years. The an
nual interest on the debt thus funded would be $4l729
TO which add the annual expenses OF the State about
$4,000 and the sum Of $40a2l9 would be required each
year. To raise this amount 1t would only be necessary
to thirty cents each hundred dollars Of taxable
property which would produce $s46,7O, to which add
dollar each poll, and the sum Of $4843 would
be produced To this add the other amount
ing to at least 100000 making total Of $564s06 The
committee remark, with great deal Of TRUTH that the
debt of the State s within the control of their
Sources and unless something Is Immediately done to
arrest the accumulation, it will eventually reach
amount beyond possibility of liquidating All these
propositions may feasible but have little hope
Of their being adopted and If adopted OF being enforced
and carried out Every calm observer Of the nature Of
State Institutions must have long since become con-
vnced that the people, having the power in their own
hands, will not submit to heavy taxes; they will
submit to any thing but that burden The representa-
tves Of the people not much to blame may ap
pear; they act as their constituents advise and in all
cases govern themselves accordingly easy enough
TO pass laws levying taxes but is dinculto enforce
these laws; and onerous the people send representa-
tives to repssl them.
is supposed by many that the interest the public
debt of Pennsylvania due in February will be paid in
full in cash. while others feel confident that will
not. 1t is matter Of opinion and speculation
and depends entirely upon the view taken of the ques
ton by the executive Of that State 30 far fac
lies Of forming opinion upon the subject CO. think
the interest," due in february, will not be paid in cash.
and led into this belief from the fact that Cover
Skunk opposed to any premature in the
premises, and will not, far he is concerned per
NIT the Treasury to be drained without providing for
the yment of the next dividend.
The legislatures Of New York, Penney lvania, Mary
land and Massachusetts, will be in session. when
shall be able to arrive at something definite in rea
ton TO the debts Of the two d, linquent States.
Acommittee OF the Georgia Legislature have reported
that OF the debt of that State has been paid off,
AID that exchange falls similar will be
paid proposition also acceded TO, to pay now
the interest due next September the six per
bonds
bill has been introduced into the Legislature of H.
lnois relation to the Illinois and Michigan Canal and
the State debt This movement Is made without know
ing ths result Of Col oakley present visit 10 Europe
The Of his mission is however doubtful that
there Is not much danger Of s operations conActirg
with any that the legislature may make. We the
principal features Of this bill =
lst. company to be incorporated h sufficient CAPT
tai to complete the canal and ppon liberal terms
Consistent with the interests OF the State and the secu
rity OF the Inhabitants.
E25d The company within reasonable time to deliver
up the state all It's bonds and other evidences Of ndeb
edness
Sd The State on its part, upon such delivery Of its
bonds and other evidence OF indebtedness to said
pany ethe canal, with all the work. that has been done
thereon and the machinery fixtures and other property
belonging to- connected with the same and to convey
to said company by ABSOLUTE grant, all the lands belong
ing to the State whether canal, railroad those Tece
we'd by the under the distribution ac and also all
the debts due the State for that portion Of said lands which
have heretofore been soldb said State
4th The State to surrender to said company all the
railroad parts Of railroads owned by the State with
the iron depots and other property belonging to the same
Provided that the company shall not be compelled to
complete said railroads any part thereof unless they
choose SO to do
9Th. The company to elect, wi hin reasonable time,
whether they will abandon complete said railroads.
any part thereof or what part they will abandon
render 20 the State.
9th The company to retain in any event, the iron and
property belonging to said railroads.
Old Stock Exchange.
$l70O u s S. 62 ii3k 50 shas Farmers rust 35&
10000 Ohio 6's, go boo 81 so Morris Canal 3O1
5000 do boo 97L 10 Erie RR 30
5000 do 96X 100 Reading RR 43z
1000 Kentucky SIS 08h 20 N Jersey RR 93ts
1000 Illinois spell BIDS 36 so Stonington RR 500
5000 Indiana bonds san 50 do bis 39k
10000 Penn'a SIS $50 ~ Is do bio 39x
1850 do 73Is 100 do boo 39k
1000 do 73k 300 do boo 39M
shas Mefch'x Bk iO6L ion do b6O 40