Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1845-01-30
From the Saturday American.
The Money Market.
JANUARY 2lst. IS1

total absence of impression, which attended tho
Message of Governor Porter. announcing in the
mos, positive and unequvocal terms, the pav.
menl of the February interest on the State
| Debt. Between The conflict of doubtful and m.
posite opinions, that had so long agitaed The
fiucluate from day to day, according as every
new rumor changed its color, i. was natural to
expect that positive assurances Of payment,
from the Governor would give ii an pulse I'd.
ward of at least % per cent. Yet. contrary to
| all the common sense of similar events. the
Stock declined and fell off from one to three
and four dollars per share, the moment The mes
sage arrived to settle the question. Bu how
seule it? By convicton The very opposite
of that designed by the message. The mo-
meni the Governor announced the payment, the
public were convinced it would not be paid -
Nothing fair, clear, and frank attended his ex.
position of The financial relations Of The State
Every syllable of vain glory and false logic ap-
reared to have been devised for some ulleror
purpose, apart and distinct from The facts Of the
case He was about TO retire from office, and
he became ambitious of making his exit in a
blaze of glory: so that the world should rino
with the song ,ha, d R. Porter had reirie,eI
the credit of The State. Vanity and amh,ion
had spurrcd him on to plausible msrepresen'a-
tions. whose effect was 10 still further dep'a-
ciate his own character for double dealing, dG-
plicity and sinister motives; so that even the
tatiered skirt of reputation, that accident hal
left him became soiled and torn in his futile
The precious value of the beautiful simplicity
of truth, as an element Of public character, as
well as private, was seldom illustrated in so r.
markable manner, by palpable exhibition Of
the contrary qualities, and furnished commen-
tary on The man, who while claiming the merl
of renovaring the credit of The State Of Penn
sylvania, coolly confessed that during his ad-
ministraion. the debt had been augmented 10
eleven millions by the accumulation of con-
pound interest!
| Character is never worth so much, as in lie |
financial transactions of country. We dOnoi
mean the mere honesty of payment oi a money
debt, which, in itself is a shining virtue, bsI
that honesty, which, under all circumstance,
discloses an unspotred frankness Of Saul. which
no temptation can induce to conceal fact, or
i IL "a
the model of old times integrity, who has 10 |
object TO influence his conduct, but the enduring
fame tha, crowns an honest and faithful ds /
charge of du,y-who looks to his conscience /
and his God only, for council, advice, and sug' |
geslions, will hold precious remembrance |
the hearts of the latest posrerily. and achieves
renown, far exceeding all The value of gold, ST. |
yer, and rich possessions. Such Chief Ma !
gisiraie, Pennsylvania has long wanted. And
may we not cherish hope, that the examPS /
of the contrast to such one, bringing down On
his head universal censure, and multered seoTA
will operate TO influence the successors Of D.
r. Porter, to pursue policy a, once lofty, hor
orable, frank, and patriotic-havlng but O1'
great object in view: the fame, interest, an'
honor of Pennsylvania 1t would be TO sIar
der the genius of our free Institutions, TO dOa'
the ultimate consummation of such wish.
JANUARY 81, 1916.
On the very eve of the day fixed by law
the payment Of the semi-annual interest on
State Debt, we are enveloped by as much
certainty, in regard to the available funds 10 I'D
Treasury Of the Commonwea ealth. as prevails
one year ago. Never before did cloud Of '0'
mystery, obscure the financial resources
Republican Government. Ignorance 1t e'''
be termed, for it equally pervades the ies'
ture, now in session-she Executive, no"
parted (thank God } TO the shades OF pr"
life the new Governor, now inducted n'O
fice-lhe State Tieasurer-the Official rev
papers, and all who either ought 10 Sn'"'
seek TO know, the exact condition oi our aO'
cial relations. All who discuss The s"bJee"
fer oD points essential to exact knowledsS
!, One journal makes an exac, calculation 0Y II