The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1845-03-07

on her feet. Ailer four years ct disgraceiul IN
decision snd inactivity - four years Of hating be-
tween ease and iniamy on the one part and M
Lusiry and honor on the other, she has come to .
decision, and hencefoTth she will 60 to work, aud
by dint OF economy, combined with her Industry
in the providence Of God, she will achieve her u''
innate redemption.
Tia. this result, SO much desired by every cltl-
zen who prefers honor aud prosperity to intamy
md ruin, ia brought within her reach by the sim
pie act f!eyying a ono mill tax TO pay portion
of the interest upon our public debt, must be plain
to any one who will take the trouble TO look into
the subject
The FIRST and al.impoHant object that will be
attained by this tax-the great object upon
which the attainment, Of the rest Jepends--is the
speedy completion Of the Illinois and Michigan
Canal About this there u now little or no con
tingency. Il is true, the tax bill that has been
passed, docs no, como up TO all the suggestions
Of the bondhollers as set forth in the message Of
Gov. Ford which was laid before the legislature
on the l3th ult. but it is 10 bo recolleced that
those were mare uggeiioas-thcy were not re-
1uiyemenis--a all the bondholJcrs asked was
that the state should come up to them as nearly
as the ability Of the people would admit. That
this has been done no one acquainted viii tho
condition Of our people can doubt, aud our com
plIancc, therefore, with the wishes Of the bond
holders is complete. And Of this there can be
no doubt they are satiicl. Mr.. Loav,t, Of New
York, heavy bondhoIder, who was at Springfield
and watched the bill a,lentively in its progress
through both houses, expresses his confidence
that il will be regarded as entirely sntisfac-
tory and Gov. Davis, wc understand, expresses
the same opinion. And when /. is rccollectcd
that Mr.. Lcavitt was hero in behalf of the New
York bondholicrs, who will bo guided by his
opinion, and that Gov. Davis came here on the
par, Of the Boston COMMITTEE, who have full pow
er to act for tho European bondhpldcrs, and who
will be controlled almost wholly Ivy the decision
Of Gov. d., The expression by these two men Of
their unqualified appreciation Of the provisions of
the bill, may be regarded as very nearly decisive
that tho money will be forthcoming.
The completion OF the canal being thus sccur-
cd, who can doubt our ultimate ability TO reach
the grand object in view--thc honorable discharge
of all our obligations, and the restoration OF pub
lie and private prosperity The canal, completed,
all conceje, will be abo TO pay the canal debt.
The canal property, Independent, of the tolls will
nearly suffice to do this, and, wllhou! going into
u column of figures to prove what has been ire-
quenlly demonstrated before, we may safely take
IL FOR granted that at ess, this portion Of our pub
lie debt can be safely considered provided for.
To meet the remaining part Of the debt our de-
pendcncc Is in the increase OF the basis Of taxa
ton. And on this may VIC not rely with safety
Notwithstanding oil the disadvantages under
which We have laborcj-the stain Of reputation
the vague fear Of heavy taxation--tho uncer.
tain,y that the canal would be completed for ma
ny yeafs,--we have prospcred--our taxable pro-
perry has steadily. though slowly, increased
And If such has been The case under circumstan-
ccs Of so much Encouragement, what may we not
sxpect for tho futurc--when our rate oftaxa,ion
10 permanently fixed and comparatively light,
when no stigma rests on our fair iamo--when, as
we confidently hope, our canal will be completed,
and thus channel opened ,ha, will bring our
farmers into nn equal competition with the far
iners Of New York and Ohioi For several years
next preceding the completion Of the New York
canal, the value Of taxable property in the state
had diminished, ye, in ten years after the work
was completed |, had doubled. Aud may we not
in this state, whose onward course even all he'
heavy misforunes were unable to arrest. safely
count on an increase in the same ratio under The
new impulse the completion Of the canal woIIl
give US!
But should we be disappointed in the espccta.
tion that the money will be advanced TO complete
the cano', rs indeed we yc, may he, still the tax
cur legislature have just lcvio will no, be without
its good effects II will dispell the vague fear OF
bunhensome taxation which has injured IN 30
much, by having set bound beyond which the
state will never go; it will wipe away tho curse
Of reputation, which has hung over us like o
cloud; it will show TO the bondholders that we are
honest, apd willing 10 do all we can TO pay our
deb.s, and then, il they find tina. our increase in
wealth and strength is not such as will enable us
ultimately to meet all our liabilities, they will be
ready to meet US by an honorable compromise.
Such will be some Of tho good effects Of the
tar. whatever may be the fate of the canal. In
any and every event we are no longer in the dark
Our 6nsncisl policy is 1xed--ccrtain. We will
either have our canal completed and thus be en-
sbled to pay our creditors up ia full. or il our CO.
usi IL not completed, they must compromise
There is no escape from these alternatives. w,
have taxed ourselves 10 the extcat Of our ability
We have cast OF the foul reprouch OF population
.--ws have shown that we arc honost--we can d
no morc--thc bondholjers must do the rest.
ita.leHx. m salels.ul GlcellQu.