The Democratic pioneer. [volume] (Upper Sandusky, Ohio) 1845-1853, 1845-12-05

state and tends greatly to augment the bur
thens Of taxation. The debt has been con-
tracted chiefly in the construction of our pub
lie improvements, and at time when the
state was comparatively new, and destitute OF
the means and ample resources which it now
possesses. Of the extent to which these i'm
provements have contributed towards the
prosperity and advancement of the state, and
the developement of the resources OF the
country, it would be difficult to form any ade-
quate conception. In the payment of the in
terest, and the ultimate liquidation of the
principal of this debt, the faith and honor of
the state have hitherto, and will continue to
be sacredy preserved, and kept inviolate.
cannot pass from this subject without ex-
pressing to you my convictions that sound pol
icy fcrbids any increase of the Liabilities of
the state, and enjoins upon us the duty of vig-
ilantly turning our attention towards the Ii
quidation of the existing public debt.
The original creation of this debt was only
justified by the peculiar situation of the state,
and the imperative necessity at the time, for
the aid of government in the construction of
public improvements. A part of this debt
will fall due in lS50, part in 1886, part in
1850, and part in 1870. With the ample
and growing means and resources of the
state, the payment of the liabilities can, and
doubtless will, be punctually met without diff
fculty. The interest on this debt, which falls
due sem.annually, was punctually paid dur
ing the past season, and arrangements have
already been made to pay the liabilities fall
ing due in January and july next.
The important and long discussed question
of Banks and the currency was settled, and it
is to be hoped permanently settled, by the ac-
ton of the last Legislature; and upon such
principles as, | trust, will secure to the people
of Ohio, in future, a uniform and stable cur
rency. This new Banking Law was deber-
atey enacted, after ample consideration, and
a faithful examination of other systems which
had been tested. Thus far the system has
proved to be equal to the antcipations OF its
friends and the necessities Of the people Of
the state.
Banks in our country, are founded on the
credit system. A system of credit is an es-
sental auxiliary to prosperity of free, enter
prising, and enlightened people. In those
countries where deapotism prevails to the
greatest extent, and Nh here the laboring class
es Of the people are tho most oppressed,
Banks of issue are not known. Hence 1t Is,
in these countries, that the man who is indi
gent in early life, whatever may be his native
ability and energy Of character, ends tedi-
Gus existence as he commenced it.
Already are twenty-one banks doing busi-
ness under the provisions of the new law,
and two more have complied with the requs-
itions of the law, and will, ina few days, 90
into operation. And already do the people of
Ohio begin to feel the influence of this sys
tenn, in the restoration of confidence, the re
vival of business, the increase of the wages
of labor, and the rising prosperity of the state.
A Banking system which secures to the people
a good paper medium of exchange, convertl
BILE at all times into gold and silver on de,
mand, is evidence of an advanced state of
civilization, of the prosperity of commerce,
and of the progressive Improvement of the
Agriculture, being the most important
branch of industry IN this State, and furnish
ing more extensive employment to our citi-
zens than any other pursuit. cannot receive
too much attention and encouragement from
The government. Ohio is peculiarly adapted
by nature to this first and most important oc-
cupation of man. With territory of more
than forty thousand square miles, the chief
Of which is not only fitted for the purposes of
cultivation but composed Of soil remarka-
BILE for its fertility, as well as its peculiar
,daptaton to the most essential, useful and
,,lusble agricultural products, this State is
capable of occupying q prominent position
mono the countries of the world, in the
PRODUCTS of the SOIL The elements OF com
nercial and manufacturing INDUSTRY IN this
State must continue TO be chiefly dependent
ranch of industry must therefore, constitute
he principal foundation of our prosperity. II
9, therefore, a consideration OF no ordinary .
IMPORT, that the attention of the people of this
state should be directed with peculiar inter-
st to the various improvements, and useful
iscoveries, IN the art of agriculture, and that
le fosterinu hand of the government should
OF be withheld from this most extensive pur- ,
uit of our people.
BY neglect and unskilful tilage, nearly one .
alt of the products Of this great source of
'ealth and prosperity may be lost. Already !,
is apparent in some parts of the state, that
deterioration of the soil has taken place,
nd great want of skill exists in the produc-
ON of crops. The agrculturists in our state