The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-12-26
From the Albany Argus.
PENNSYLVANIA cREDIT-THE FEBRUARY iNTEr.
EsT-THE ACCOMPLISHMENTS OF DEBT.

PENNSYLVANIA CREDlT-THE FEBRUARY iNTET.
EsT-THE OBSERVATION-DISCLOSURES OF DEBT.
We perceive that there is an effort making in
quarters to nstil the impression that PennsyL
vania will fail in the February paymen. OF her semi
annual interest
Governor Skunk and Treasurer Snowden are
statesmen Of too much character and energy to rem
der it probable that such result will take place un-
der their administration Their conduct for the past
is an earnest for the future. They shave previously
carried the credit of the old Commonwealth through
Ear deeper and more complicated embarrassmenis
than now beset her, and when means were less eas-
ly obtalnable.
The amount Of available funds in the treasury on
the 3Oth day Of November was 1857 900; but the
amount Of taxes due and payable after deducting all
the expenses Of collection was ss73,O00 The treas
urer remarks upon the cash IN the treasury on the
3Oth November: "This result is eminently salts
factory, when it is considered that the interest on the
funded debt, and all other liabilities OF the Common
wealth during the past year have been fully PAID
and among which were several extraordinary
expenditures, amounting IN the aggregate to large
sum" December and January, in Pennsylvania us
well as in New York, is The time for the receipt OF
taxes. Some papers in their warfare against Penn
sylvania credit, have remarked that the winter
the very worst time to obtain the prompt payment
Of taxes; yet seems that by the legislation OF nearly
every State in the Union, thai has been considered
the most favorable time for this very purpose. An
experience of fifty years has proved this. II is prob
able that our State, during the months of Decem-
Der and January, 80 600 900 OF taxes will he paid.
The amount due for the sem-annual interest of
Pennsylvania, in February, is 9OO,O0O-a large
sum all must admit, but the resources CORE
spondingly large-Sl, 100000, The amount of taxes
payable from Philadelphia city and county, is
$3.50 900, and the wealthy county of Lancaster
$50, 900.
The Harrisburgh Union, which is conversen
with the views of the governor and the treasurer
of this large ofmoncy on the part OF these coun-
tics, will secure the payment OF interest IN February
next, beyond shadow of doubt. We feel irsit as
smed that The counties III the interior not only irH
ing, but prepared 10 do their duty"
II is frequently remarked that the business inter-
ests of Pennsylvania were never IN condition
more soundly prosperous Than at the present sine
Her iron and her COAL under richly reniuneraiive
prices have turned ris Of geld into that State The
iron business has been better this than 1t
even in 1885 and 1886. The crops also have been uu-
commonly fine and abundant, and sold, likewise, al
fair prices. Agriculture, commerce, and manufac-
lures are in most thriving condition. Under these
favorable circumstances, 10 doubt whether Pennsyl
MIA will pay her seml-annnual interest IN Febru.
airy, would be to impugn her good faith IN manner
at war with her past conduct Pennsylvania may
have wanted the ability but she has never been
wanting in the will, to pay her debt-arge and
embarrassing as IT truly IL.
With strong and patriotic admnstration-wIth
$500 900 in the treasury, and $500 900 due--thus
affording margin of three hundred thousand dol
lars for failures to pay taxes and with times SO re-
markably favorable, cannot belieYe it probable
that Pennsy vania will want the means necessary TO
pay her interest in full ON the first of February.
The Union, under date of the 18th instant re-
hukes the alarmsts, and adds the following encour-
aging news in confirmation Of the views we have
above expressed:
"When Col. Snowden issued his circular Of the
n,le n.o he had ,nl fnAS
the treasury to the amount Of S3Sl,7o6 90. Dur
ing the first twelve days Of the present month, he
h is received over and above all expenditures, up
wards of $4,000.
ga considerable sum will be Gas is always the
CASEY brought in from the North and West by the
members OF the legislature the first of January.
There is now due from the city and county of
Philadelphia, S243,7 1872 II, all of which will IN
quesionaby be paid about the LIST of January.
There is also due from the rich counties of Ian
caster, Bucks, and Northampton, further sum Of
sos 900, which will also be paid without fail.
"The above sums alone will place in the treasury
over $500, 900, and the remaining 100000 will be
received from collectors on the public works, the
smaller counties, and a great variety Of other
sources.
ave are happy in being able to make this erposs
of the condition Of the finances of the State; and
feel proud satisfaction in giving the assurance of
the entire confidence of the State treasurer in his
ability meet the payment of interest on the first
Of February next in full. The vigorous measures
adopted by the treasurer such that he cannot fail
to pay He has determined upon paying and is
not the man to fail"
Yet there is moral in the present position of
Pennsylvania which cannot he too deeply impressed
upon those who legisac for the people It's large and
heavy debt, and the great, and we may almost say
the convusive efforts it requires to meet the semi
annual payments-together with the alarm and dis.
trust which pervade the commercial circles, and
thus affecting her credit for months previous to the
passing of the pay day-aford Of the strongest
Illustrations Of literally the quicksand dangers of
debt. The State no sooner struggles beyond one
payday, than another is at hand. Even the best
resources are not always at command; and thus, in
making the next great effort, she founders in the
uucksands Of doubtful credit and finally may be
engulphed by the very struggles she is compelled to
make to maintain her credit