The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-07-01

J he quotations Tor the stocks included ia this lie
have varied but very little since the middle Of May last
The Improvement that has been realized upon some Q.
the State stocks has been caused principally BY the
emulation of interest the semiannua dividends being
nearly due The favorable change that has recently
taken place in the financial condition Of Pennsy
has caused the advance the market value the
Of that State. The semiannual dividend of two and
half per cent due the first day OF August will be paid
without doubt at maturity, several banks of Phila-
delphia have determined to take the temporary oan
the county Of Philadelphia, for the purpose OF
furnishing in advance its quota The efforts OF the
Treasurer provide funds have proved successful and
the credit Of the State may be considered
established The settlement Of this important que ston
must be very satisfactory to the stockholders and we
trust will prove an in the finances some of our
State governments that will result in redeeming the ere
dit ofevery delinquent State and wipe out the stain Of
reputation 1t will require time for the new States
OF the West to recover from the their
travagance offormer have produced With immense
Wealth within their limits, and undev coped resources be
yond the widest calculations, the debts that weigh upon
them must for time be patiently borne but will event
ually be removed. The finances of Indiana and Illinois
are at present in an almost hopeless state but the
crease in population in the value Of property in the
wealth OF the people, is rapid that the public ndebt-
edness Of each must ultimately be redeemed to the
last mill. All classes in the most prosperous
condition, and every finds full employment. The
agricultural classes particularly rapidly grow.
ing rich, in spite Of the low price of produce and
the absence Of large markets The increase in the va
lue and amount of taxable property every year in the
principal agricultural States is the best evidence in
the world Of the prosperity Of this class of people,
Indiana and Illinois possess immense extent of
tory, immense quantity Of the finest soil the sun
warmed Indiana alone possesses arabic land
than the whole of New England, and more than dozen
States like Connecticut could be made out of it.
The increase in the value Of the agricultural products Of
every State in the Union every year. is sufficient
to pay the interest the public debts The agrcultu-
raj products Of Illinois in 1874 valued
and Of Indiana at 4354s225 The floods and resets Of
the Mississippi destroyed immense quantity of pro-
duce in Illinois last year, and reduced the aggregate
value Of the products of the State from 500 6s6 in
ls43 to 7S in ls44 The inc rease in the auant-
ty OF land annually brought into cultivation the West
States is very large sufficient give the creditors
Of those now delinquent every hope that every dollar OF
their demands will ultimately be paid in full principal
and interest The new States yet but thnly po-
puated considering the immense extent Of their limits
The annual amount ofagrcuture in Illinois and Indiana
averages to each nhabant than any other State
States in the Union.
There has, within the past year. been such complete
quency and reputation that the Legislatures Of heavily
indebted States will be compelled to enact more strin
gent laws, regulating the collection of taxes and
pay ment OF State dues, than have yet been adopt
ed and the people will be induced, more by the
mere force Of public opinion than heretofore to be
more prompt in the payment of taxes The success
of the tax collectors in Pennsylvania and Mary land
is the best evidence Of the change in the feelings
of the people upon this subject Taxes arrears to
large amount have been liquidated and the payment
the late levy has, in several instances been anticipated
We look for gradual but steady improvement in the
financial condition of every State in the Union solvent
and insolvent The difficulties and embarrassments o.
the past few years have been but salutary les
to all parties and the systems Of retrenchment and
economy that have been produced blythe effects oformer
extravaganza WILL at very distant day establish State
credit upon basis frmer than yet attained from
which there will be no danger Of removal.