New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-10-07
COMMERCIAL AND MONEY MATTERS.
~ For sale Of Stools a, he Erclange last Pas


a 10 Francs 3 q a 3 23s and dul.
The Receipts at the Custom House for the week
ending Saturday last were 500 l79 4.
The exports of Specie since the first inst have
been-io llavre $3.50 Port au.Prinee 5000 The
former in silver the latter in gold
The exact Receipts Of the Long Island RAILROAD
Co for Sept from all sources ~ y
Same time last --5ol' -
rvc.s. ,.44 ......... $500 =
We have received en- Address TO the cluzcns 81
Indiana by the Commit of the Canal Convention sp
pointed for that purpose which Convention assembled
At Terre IIaute May 27 s45 consider the beet mode
of applying land granted by the General Government
for ex tending the Wabash and Erie Canal TO the Ohio
at Evansville
II will be remembered thai this Convention was com
posed Of leading men of both political parties and was
characterized by very strong expression OF opinion IN
favor Of prompt and efficient means 70 be taken by the
next Ieds aiurc in connection with the completion Of
this Canal for the resumption of payment upon her Pub
lie Debt and the consequent restoration Of her creclt
The address is ably written and breabes the night spirit
The cost Of finishing the Canal ia estimated at 276 300
and several plans for the application Of this grant Of
100000 acres Of land for this object presented and
discussed OF these the Committee evidently prefer that
Of raising sufficient for the purpose by loan TO be 80
]
paid out OF the State revenues. They say
II a loan could be effected by the State we should
consider il decidedly better plan and II seem 10 Us
that the interest might be provided for out OF The re-
sources Of The state without Imposing burhen thht
could reasonably be complained Of lie interest on the
whole required 10 finish the Canal s about sew
enty thousand dollars According 10 the official returns
of the STATE Tor the last year. the number OF polls was
upwards OF hundred thousand ana II is therefore evil
dent that from poll alone-Dot be deemed very
upon the people Of Indiana when their habits Of
industry and thrift considered and their advantages
in climate and soilthat this amount Of interest might
be raised Again the assessment OF taxables for tie
year the polls not included, ls considerably nsng
one hundred millions of dollars; and taking into vie"
the increase Of the present year may be fairly estn
ated that onetwenteh part OF per cent on the as
scssmeni would make up the amount of interest And
again the actually collected and paid IN during
the last year upward of 100000, and the ordinary
| expenses of the Government were 5s0O00-the differ
ence II is presumed being principally applied IN the al
sorption Of State Scrip domestic debt which could
soon be extinguished but large portion OF which. :
believed will be outstanding for years TO come merely
for the want Of presentation
In these expressions feel fully warranted for it
il manif that in connection with the acceptance
of this grant and the prosecution of the work,
rangemen could be made for restoring State credit and
paving the State debt, and in entirely accepta
bic to those who hold her bonds. At the Convention
which appointed the undersigned 10 address you, Mr.
Chas Butler OF New York the agent OF the hondhoders
upon invitation submit his views upon the subjects
there agtaed did with great rankness In the course
of his remarks he said How shall this great object
payment of your state debt be accomplished, and that
100 in the shortest time, and with the least possible eX
pensef ! only say improve well The boon winch the
General Government has granted you For, with the
speedy completion Of this Wabash and Ohio Canal, per
NIT me to date the speedy relief and prosperity of your
state And again i have carefully compared the
prospective revenues of this canal with the certain pro
tits Of the Ohio Canal There has been said to be no
connection between the two. Ny opinion is that the
Wabash and Ohio Canal will in three years produce
more revenue than the other has in the years Of lis
existence. Your bondholders would think, even be
willing to come forward and say TO you pay us by your
State tax and otherwise portion Of your public debt
and will be prepared 10 take the profits OF the Can
or the balance A. to the practcabi,y Of the State
obtaining loan be says that such proposition IN a
probability will be most kindly met by your bondhold.
ors, # you only exhibit disposition and eHertlon To
meet your debts and 10 what Will be considered =
proper disposition and exertion To do only that which
Won can and no more He alluded to the PRACTICABLE.
v Of paying two per cent upon the whole pubic debt
without adding cent 10 the present tax, by econom
zing the county and town expenditures and transferring
n portion of the for those objects 10 the state Ana
toward the conclusion of his remarks he makes this
phatc declaration; There IL no erea. difference be
tween the completion of tins canal and the restoration OF
your credit The Two things go together The construc
lion of yur Canal is but appuriensn 70 the pay nent
of your public debt and the moment you can pay any
per OF interest even one per cent the question i
settled Ii be done by small fraction OF one per
cent on her taxabcs aided by transfer Of portion of
the tax levied for county and town purposes or with
the aid suggested out of the of the State
arranged the domestic debt should not interfere. Two
nor cent on the state debt is about $4,000. levy of
twenty cents the hundred dollars OF her property
and poll tax OF fifty cents, $35OOOO of forty cents, and
the pol tax at seventy five cents S475OO0 In ls4 the
state tax was at forty cents being hundred per cent
more than al present There - also reason 10 bevec,
Judging from the suggestions OF Mr Butler that the bond
holders might induced to take the grant and guare-
tee the completion ei the canal Surely, some arrange.
nen can be- made upon proper basis at the ensuing
session of the Legislature If the members elect snail
come ND to the work with spirit due to the occasion.
This Man then, without "a loan or the plan with a
loan as heretofore su gested submit with our recon-
rnendaton and in the latter should be preferred
that the lands should be vganty preserved from every
species Of respsss and disposed of in no case but for
cash for there is kind of credit system which would
fail in being productive Of delays disappontnents and
embarrassment.
The Committee conclude their address in the follow.
ing emphatic language
This we regard the most important, isis in the affair
Of the state which has ever happened Her character
may a. restored and her credit placed upon firm
and enduring basis she may be left 10 take plunge
still deeper into the abyss leaving but little hope Tor the
future. We Sntrcat you, then, to rouse up and give
Yourselves the reflection The occasos demands Dis
cuss these subjects among yourselves, and make known
your determination Are you willing the State should
remain any longer in her present humliatonl Why
should Ne live are when We Lave honor and pros
perity within our reschi
Repress besceoh you, any spirit OF sectional oppo-
sit.on which may the work SO intimately connect
ed with the credit OF the State. such spirit may
times be proper and necessary 10 the ends Oi JUS
tee but this occasion should be regarded as reck
less and suicidal The interest and honsr OF the State
OF every section OF requre that We should harmonic
and
There is also fellow citizens. an ndiferencewe would
guard you sgsinst-which speaks with selicomplacency
Of paying the public debt not now but when we art
able and declare. upon honor and conscience that We
are not regulators. We that 10 honest and dis
cerning community Will tolerate such al excuse for
the public deiing. ency for they are repudiators
, whatever their professions may be, who are able
/ 10 pay their debts, but will not make proper ei
fort 10 do So Now is the time. We repeat when
it can be made successfully aud with the least
pressure upon the Peope And when the public debt j.
once provided for al OF shame az citizen OF In
diana will be remoyed-the emgrant will no longer shuu
the State pass rapidly through l. preterrins home
, wherever else be may ind one The state Will be Re
generated and her march Will be rapidly onward IN
population. improvement and wealth.
THO. H. BLAKE. JNO. K PORTER
JAS. HARRINGTON, w H. sTOChWELL,
J. :. JENCkES Committee.
TEKRE HAUrE Aug. ls45
1t Is evident that the right spirit is a, length
length fairy aroused In 'ndisnsihst for the most part
both Democrat and Wing are now determined to face
their Obligations Ike Indiana i. the fourth ssrcul
ura State OF the Union has largely increased both her
population and resources since her suspension In lsi