American Republican and Baltimore daily clipper. [volume] (Baltimore, Md.) 1844-1846, 1845-03-12

ksrE,cAN REPUBLICAN, CONVENTIONS Inc
g,eot6ers of the Convention will observe, that
= u,-,,i.r is called for his cUening, at halt-past
ql.sock. at Union Hall, corner OF Baltimore
ssrscs and Tripoctt's alley; and it Is hoped
that ehora will be a full attendance. The du-
tees which have been dcvolved upon this Con-
vcs,riop are important, and we have no doubt,
c-gra the zeal which has been manifested, That
tieT will be discharged with energy and decl-
sioa We anticipate complete and thorough
Organization of the American Republicans of
the city, by the formation Of ward associations,
Sc, SO that young America" may do credit
To- TIE city and country.
FINANCES OF THE STATE. We have receIy-
ed copy of the report of the committee of
WAYS aud means of the house of delegates, re-
fative 70 the finances of the state, made on the
sth last, and are pleased to see the opinion
expressed by the committee, that the state can
resume the payment Of interest upon the pub
Ir debt on the Isl Of July next. On looking
alw.r The items of income upon which this
92tuion is founded, we are disposed to believe
cfS- tie committee have arrived at Just con-
elseion. 1t is unqucstionably an object of the
g,e.9est Importance to commence the payment
e.f interest. for it will at once reestabSh the
crGdiG of the state and place her in much
better position than she ut present occupies
A1ioug the estimates of the committee are
$4,000 for duty on promissory notes, under
hat &c hp "a
which we have heard be correct, the sunni
wi,p>h will be derived from this source cannot
he nauch less than double the amount set down
~ t!sc committee of ways and means; but the
canct,tee have pursued the safer plan of put
tlGg the amount al the lowest rate. Should
cine state resume payment on the first of July
is contemplated, there can be no doubt that
sla.ie stocks will Immediately thereafter reach
psr, Il they do not bring premium. In pub
ISe yell as private concerns, credit is equiva-
ieut &c capital; and we are of opinion that, ifI
Capitalists can but be assured of the regular
payment Of interest, the state will be enabled
ia redeem portion OF her six per cent. stock,
ay tha substitution Of a stock at a less rate of
snterest- At all events let us begin to pay III
IL 6a possible, on the LIST of July next.
We extract SO much of the report of the
committee Of ways and means as will exhibit
st'e data upon which the proposition TO resume
P&vuient on the Ist of July next is based, as il
will 40 doubt be satisfactory to the public.
The committee say
Assuming it to be the determination of the
l. al
che ensuing July, and to fund the interest in
arrcar to the first of April next, at b per cent
the amount of interest 10 he paid annually
thereafter, will be sos, 74l.l6, viz:
Aa0sillt Of interest on the present debt,
excluding those portions Of ii, which
provided for by specific appr0pria
aoas, is s626,74l lsI
he arrearascs OF interest To the first of
&pri lS4J, are estimated 10 be 81 600
90, which il funded at per CT. viii add So,oo0 gu
Making, s7O6, 74l I6
THIS sum includes the interest on that por-
rlau of the public debit which constitutes the
slnkiag fund, the income of which, now, ex-
ceeds S67 900 per annum.
The Committee strongly incline to the opin-
ieu that the revenue of the State, provided by
existing laws, heretofore passed, and those
which have, and it is thought will pass the
present legislature, will be sufficient TO pay the
whole demands upon the Treasury, augmented
as they will be, by tho funding OF the arreai-
ages of interest.
They submit the following estimate as the
yrahablc revenue from the enactments referred
On;
lite direct and income tax il is thought
ViN produce S4H,ooO
inueest on the original debt Of the Sus-
GaehAnna and Tide Water Canal Com
rnseeest OIL their bonds for sl9a. 800 taken
Tar Interest due the State 10 LIST July lS4i ll,51O
sucfi1E dates 25,000
Tar Oh collateral inheritances, &c, 10000
Fax an commissions of executors and ad-
n,RisfrstOrs 20,ooo
~ aa commissions '-'~ $4,000
Ecias the Baltimore and Susquehanna
Railroad Company W,OeO
dividend on the stock Of the Baltimore
and Ohio Railroad Company io,OO0
Tar On commissions of sihcers f,Vou
Hrs&ers iieenses-tax on plate and watch 49, |
ss. theatrical exhibitions and protests li,ooo
~, ga stocks held by nonresidentS 2ooOo
fxr au certain officers oUOo
pgts promissory notes, &c, "'o''
MAKING S7O9,550
Aud consequently exceeding the interest on
the debt, including the interest upon the fund
e,d interest, S2,s0S.S4.
Should these estimates he realized, the Stale
n.ay do full and entire ustice to her creditors,
wishoat touching, or interrupting for mo-
nAsat, the opera ion of the sinking fund, by the
working which, at period not very remote,
che debt will be wholly extingulshed. That
fund amounts now to Sl,276,306 10, having
been augmented in the course of the past year
Ssg,4S9 So.
There are strong grounds to believe, that the
sseate may fund the interest due from her to
che LIST of April next and then resume OH the
Est of July ensuing, and continue payments
regularly thencefoIth.
ssHsaid that course be adopted the interest !
oay7,bte on the lst of July next, on the pre-
sent sterling, and currency debt, wond be S237 5i1