The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-07-26

The aggregate decrease amounts to only about two and
half per cent The decrease at Buffalo and Black Rock
amounts to full twenty per cent and at oswego to about
seventeen per cent II will be seen, therefore, that the
decrease at Buffalo has not been much larger than at
Oswego as some parties would have the public believe
The Weand Canal has not yet ruined Buffalo and pro-
badly will not notwithstanding the alarm the citizens Of
that place experienced the opening of that work and
we have doubt that for many to Buffalo will
command very large portion of the commercial move
ments Of the lakes. There places however as ia
voraply situated the lakes for Buffalo
and the rapid improvements making in internal improve.
ments, must soon develope the and position
these places and raise up rivals to western
cial emporium powerful than Oswego any other
port, now looked upon with such jealous eyes. The
contest, few years hence. for the of the
lakes, will be between Oswego and Ogdensburgh the
former the depot for the western trade of this city and
the latter for the trade of Boston We trust that
the finances Of thsSate will be economically manae
and the debt sufficiently reduced enable to reduce
The tariff ofolls on our public works to such rates
will secure the transportation of large portion of pro-
ducts Of the west, seeking markets the seaboard
The London Times says that "a notion often entertained
before has again been brought forward of convening
meeting OF the creditors OF the nsolvent States Whether
any impression could be made Mississippi, by the
strongest series Of resolutions exceeding doubtful but
perhaps Indiana and States that do formally
profess the doctrine Of reputation but merely forth
inability. wholesome effect might be produced 1t is
at all events worth while to make the attempt but
heightened disappointment seems at last to have
produced apathy" We have no doubt but that pro
position will be made by the European bondholders
the delinquent States for speedy settlement of their
demands in some way but these States present
unable to carry out any proposal that might be made
We do not believe that the State OF Indiana can pay one
nj Ofth Tho iptora tho Jo1to nj.
finances of the State much reduced and the
SO large, that the annual receipts into the Treasury
would not pay the smallest fractional portion of the
annual interest Although several of the delinquent
states cannot pay even part of the interest their
debts at present they will eventually pay every cent
principal and interest It will require time to develope
the resources of each but they have within their limits
sources Of immense wealth. which i'll in time be appro
priated towards liqudang the public Indebtedness Con
siderable progress has already been made in some of
the delinquent States in recovering the payment of in
terest their debts Ilnois has perfected system by
which it is expected the full interest the debt of the
State will be eventually paid The Government of Mi.
chgan are making great efforts resume the payment
ofhe interest on the debt Of the State and it supposed
that with the aid Of certain capitalists in Wall street
the object will be effected A proposition has been
made to sell the railroads of the State but no action
upon the subject has taken place.
Inc amount necessary to pay the semiannual interest
on the funded debt of pennsy lvana is at the command
OF the State Treasurer, and the payment will be made
punctually the 1s OF August The receipts into the
Treasury in June s45 s4s O92 than for the
corresponding month in 1884, and the expenditures for
june this year. 1928 $50 % less than last This makes
gain for The month"; this year. Sill 722 3d. Among the
items of expenditure in June last year there one
for the cancellation Of relief The amour,
received from the public stocks for June ls45 was
Sll67ll against 673 &c for tho month last
year. being increase of S49o37 So Several counties
have paid the whole of the tax in advance, and some
portion Sufficient has been paid and in the course Of
collection, to ensure the payment of the interest
amounting to little less thsn ss5O,O0O when due The
payment of this dividend places the State of Pennsylva
mania permanently among the solvent States. We have
the slightest doubt but that hereafter the interest on
the debt of Pennsy lvana will be paid promptly in full