The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-11-19


confidence at home ip its perpe,uiY was more un-
bounded As an evidence of this, Us 6 per cent.
stocks are commanding premium Of 10 per cent.
II owes, comparatively speaking no debt--abso-
luttly none, but what Is held by it's own citizens;
while its annual expenditures have been reduced
within the compass of S23,000,0 900 J!
"Mark the prediction. The last cent of principal
the last cent OF INTERVIEW be paid on the bonds
issued by the States. Stocks are daily changing
owners--passing from foreigners to citizens. The
securities Of the different commemorative ultimate
ly will be owned at home, which will tend to
strengthen those issuing them. IL isnot at all i'm
probable hut that there will be constitutional prohi
billions against the creation OF funded debts The
question is already agitattd in Virginia, Massachu-
sets, New York, and elsewhere. Il is undoubtedly
their true policy not to invite dollar from abroad
except that which their surplus products command.
They are cnphatically tdkrieuiurisfs;' 1000, 900
Of persons are engaged in this branch of Industry
whilo IN all others lcss than 100000 find employ
dnsni. Their march TO durable wealth will be OH
ward as long as they continue to cultivate the soil
fsithfally"
As soon ua the news ofAir. Folks election reach
ed London, tlse Times aud It's coadiu,ors attacked
anew with than thef accustomed violence, the
credit Of the States. Il was unblushingly asserted
.hst Mr Polk favored Reputation, and that in the
defeat of MIR. Clay the bond-holders had los, then
las, hope OF payment. This belief was strengthen
I'd by the opinions of many American residents and
travellers IN Englsnd and was heralded to the con.
tineni with sort ~ fcDdish delight, iD order to re-
Wv, preiudiccs against US which had been sun,ber-
ag fof months. in order 10 couuteract, as far az
Itss'hlc ,l,e wicked Influences which were al work
20 dtngate front our responsibility rs a nation,
pr.scsicd 10 the German public, IN paper Of con-
slderabl, length, statement Of what knew to be
ILs iacta u the ease.
I iook oco.s,os 10 remark, among other ,hinss.
it has bern sisted ~ the London journals that State
securities endangered by the election Of Nj.
Polk. This impression u wholly erroneous, not
having sycn The shadow of Foundation IN truth.
Me- pulks own State has managed her finances so
weli, - 70 b almost free from public embsrrass-
meni, and Coz uls position, she ~ more indebted 10
hm thsa 70 any ens % her eiiizsns inasmuch as he
sas ~ ths gslseFnaorisl chair during the most dan
grross crtsin IN The uaiied Slafes. lie Is for a
failhfai cosnPtasor wiih psihlic engagements and
y snNioas - ssc The defaslung States redeennc
,heH cFsdit, W isyyiag and collecting taxes on the
psepsriy wilma thsir bounds which Is as ample for
ths TsEpo-s q The time the debts were created.
Nisrnia. OAio. Alaliaaa. south Carolina, and New
Yesk, have maintained their credit when under
ssnsegafi nais, xhde Indiana. Michigan, and Lou
isisaa saepp~d nndsE vhg rule. The spidsne,
has yst a. b. sdducsd lhsi a whig State s more
viilina - gsay thaa Democratic one, OF that Mr..
Cl~y issis mos soloItads on the subject Of resump.