The New York herald., 1845-03-08

The passage cfthis bill through the Senate and its en-
the state The legislature Of Maryland have not had un
der the present session any new system Of
M tor the 81 the the n % or
but both houses have been actively engaged in improving
and making effective the tax laws in existence,
and adding making others taxing property not hereto
fore taxed.
The bill passed the Illinois House of Represen
doubt pass the Senate by large majority Many friends
q the 5 6 aoss na ns BY twAra y, M vote
on State db m Orec.sv M 81 ns
and foreign bondhoders but we have no doubt Il win be
acceptable to them The section which for
every two years, from and after July lst le10 until Il
reached the payment Of Elk cent has been stricken
vided for the funding of the interest. and the pay
ment Of interest upon interest after the Ist Of ia.
million six hundred thousand dollars to complete tbe ca
nal provided tax was levied under the authority Of the
Legsature now in session. and secured to pay
one halt yearly dvdend the LIST Of July 1885,
half one per cent on the whole existing debt which
taking that whole existing debt amount 10 eleven mil
thousand dollars That the interest remau at one per
cent until the first day of july lSls when dividend of
per Cent That the interest should remain at two ner
cent until the first day Of July. AD, $780, when divi.
dend should be made Of and hall per cent. making
annually three cent Tha the interest should remain
at three per cent till the first Of July 1852 when divi
dend shond be made Of two per cent, making annually
per cent till the first day Of july 1854 when dividend
should be made of two and half per cent making on
FIVE per cent till the first day OF July 1885, when half
yearly dividend Of three Per cent shall be madc making
the Of JAM 1856 a. we'll as the Differences between the
interest due, and the interest paid up to the let of Juy
1885, should be funded in state stock begin drawing
interest on the st day July 1885, at the rnte ofsx per
All these proposals have not been acceded to by the
the taxes levied by this bill can and viii be coeed
and that the revenue collected may be sufficient to
debt of Illinois the ls Of lsA5 exclusive Of what
due to the school fund.- calculating interest on the
o Up s ' Of sis sS on H ss
statement showing the particulars Of the public indebted
ness mskng up this amount:-
STATE DEBr or ILLINOIS, JAN l. ls46
Canal debt, Including bonds and scrip S474l 7s3 a.
Internal Improvement, Bank stock. and
State House debts, including bonds and
ll,4s4.6Ss 81
Interest on Internal Improve. "
men debts, So to Jan. ls45 s7s ~ o3as 100 II
Total amount Of debt. >. ..... 1877, ,s6s 90
The annual interest on the canal debt amounts IN
Inc annual interest on the internal improve.
ing interest the annual interest on which
amounts to S662 4s We can consider the State Of IL
before adjournment become law and the loan from tho
foreign bondholders secured The Of work
line and provide consumers for many their sgricuuraI
products This would improve tho condition othe farmers
Of that vicinity and cnabe them to pay their portion Of
the State may be directly benz fitted by the worknr
completion Of this canal but they are more favorable
sHsssa II point Of View and do not
northern section does 10 stated that Governor Fsrd
will call an extra session Of tho Legislature next winter
for tho purpose Of passing many neglected this scs
sion on account importance Of the revenue bill and
the necessity Of its being passed at once to secure the
loan offered BY tho European creditors.
mas been the general opinion for some time mast that
the Legislature Of Illinois would not adjourn without do
towards redeeming the credit of that state
ana proviang something for the Of the interest
that body considered advisable in consideration of the r
cunary condition Of the people and the other
tney are called upon to BEAR and the Inhabitants
~ h new law, have only to second the efforts CT
their Representatives, and the state will eventually nav
sne r un interest on the debt promptly and punctusiIy
Legislature Of Illinois, another evidence Of the rand in
crease OF non repudiang spirit in the minds Of the peo-
PES and as this feeling gain: strength q: the people feel
luton must take place in the government OF the en-
quen States and measures called for provide al once
for the suffering creditors who have long been de.
prvtd OF that which, IN many cases. IL their only daily
Let any citizen Of snyBdelnqusnt State bring home 10
place him in sucha condition that he depends entirely
upon the income ro an amount he has loaned that state
md the nonpayment fhat income compels him 10 seek
livelihood IN some employ III adopted 10 his powers
which he almost incapable OF performing When he
,an fully realize tho misery and suffering such condi
aot one the prodc ed bv The non
nent Of the interest the debt OF his State There are
the creditors Of nearly every state in the Union
md scrip OF each commonwealth Many widows Of half
,ay ofcers many orphans whose property invested in
he funds Of Europe would not have paid Income large
american state stocks because the per interest
m their small investments would give them comforta-