American Republican and Baltimore daily clipper. [volume] (Baltimore, Md.) 1844-1846, 1845-03-07

| sylvania and New York works of improvement
| we have lost almost our entire trade with the
middle and Northern portions of Pennsylvania
Ohio, Indiana and Illinois, which was formerly
large and lucrative. On the entire Southern
| border of States, New York with her absorbing
commerce has deprived us of nearly all markets
and all facilities.
The merchants of Boston, under merely no.
minal freghts in packets and steamboats,, can
lay down goods at St. Louis, Louisville and
CINCINNATI cheaper than we can, with an inn
mense advantage of distance in our favor, and
uniformly do 80, year in and year out.
But for the completion Of the Baltimore and
Ohio Rail Road to Cumberland, at the oppor-
tune moment when it was dono our Western
intercourse, Nth Rail Road direct from He
gcrSlOtCn TO philadelphia would have been at
this day in most appalling condition; and we
should have scarcely seen one traveller, where
we now see tipe.
The encroachments spoken of upon our
''right of way" are constantly progressing, and
it remains to he seen and determined, whether
we shall carry forward our work, and secure
immense advantages over all competiton-or
blindly surrender them into the hands Of short
sighted and reckless regulators.
1t is not in the nature of things that the Bal
timore and Ohio Rail Road can be advanced
one step beyond its present terminus for the
next ten years, unless the bonds Of the State
are restored to par. That done, and the work
may be Immediately commenced under the
most favorable auspices.
Our experience justlfes us in paying pass
ing tribute to the character and value of the
trade thus to be embraced and secured. It's
stability and integrity enabled large number
of our best and most prominent trading houses,
who were compelled by the most extraordinary
revulslons in 1881 to suspend payment, entirely
to recover themselves without serious loss OF
capital or ultimate credit while at New York,
with their debts in the Southwest, a large por-
ton of an entire branch of trade was annihi-
lated, and large numbers, with original means
much beyond the average of our merchants,
paid of by bankruptcy; and from that day TO the
present, have never realised enough from their
assets to square their confidential debts.
With our position thus circumstance, we
have witnessed with alarm, if not with abso-
lutte horror, the introduction Of bill into the
House of Delegates, by representative from
this city, the import of which, without SIM
gle effort to avert it, looks only to the utter
) prostitution of the States credit-to the most
thorough and unqualified reputation of our
entire debt.
Whether the initatory cue to the measure
was derived from this city or borrowed from
another source, it has been boldly offered and
, advocated, and the bill of denominations itself,
) has been circulated through club and coffee
: houses here, pandering to the tastes of those
, whose views and feelings are in harmony with
: the act itself.
To render the bill complete, section should
be added from the recent history of mississippi,
the nursing mother of all schemes and plans
analogous TO this, and going to show, in effect,
as her system has fully done, how readily pri-
vate obligations between man and man, under
the lead and direction of the public example,
can be literally cut up and marketed Gas this
bill would provide) so that man shall pay
anythlng-no man shall receive any thing
and yet, by the magical working of the ma
chinery, all shall be abundantly consoled and
satisfied. We have lived in Maryland, years
on years, when any proposition thus striking at
the foundation of all public credit, on the part
!, of responsible and accredited functionary,
would have excited almost universal indigna-
tion-and our trust is, that we may yet wit
ness the day, when such schemes, with their
authors, will be overwhelmed and sienced by
: the public rebuke.
We have no immediate means Of Judging
} with what intelligence and fairness the assess
ments were made throughout the state; but from
what is apparent here no doubt great nequali-
ties exist, and there is undoubtedly vast amount
} of productive property not visited with any tax.
The whole subject demands the early and
serious consideration of the Legislature: TO the
end that the arm of the government may be
strengthened by increased means, and that ex-
} isting inequalities in the public burthens shall
/, be no longer perpetuated.
, We maintain, that the object paramount to
} all Others for the consideration of the present
| &c tbo; Eat
: shattered credit of the State, and that no ordi-
J nary sacrifices should be suffered to interpose
barrier to its accomplishment; and as pernla-
nent means of obtaining very large proper
ton Of the present deficiency, new assess
: ment that shall reach and tax the millions of
personal property that has hitherto escaped, is
obviously one of the most just and equitable.
II this, however, is to consume much time,
and if other modes and forms of tax are found
, insufficient, let IT'S hare moderate and Temporal
ry duty on stamp paper, rather than longer to per-
petuate eristing euils and dangerous
/ If, however, all appliances and modes for
creating the required revenue shall fail, and we
are doomed to trundle on in our downward ca
reer to thorough reputation, we implore the
= Legislature to be true to its own dignity, and
g not to adjourn without seasonable declarations.
r Happily, an example in point is furnished
by a sister Legislature, that OF Indiana, the
G members of which, at their late session, inhu-
n enced doubtless by the purest motives, but
r voting down all propositions looking to the
o payment of even one-third interest on their
Il debt, could not return to their homes and fire.
sides, without passing, almost by accamation,
: a set of the most stringent resolutions against
: the sin and curse of Reputation in all forms
;, and consequences.
: An example so magnanimous and so purely
t patriotic, should not pass UNDECIDED by other
r bodies under like delinquency; and it is no.
r ticed here, that legislative dignity may be pro-
e perly asserted-and that the usual salro in
@ such cases may be administered to the bond
holders.