Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1846-05-08

they are paid in by the purchasers, and on
which the State pays interest. From this
source there has been applied to the pay
ment OF interest since 1899 dIe sun Of
S292,6l4 25. This has increased the State
debt 50 much. They have applied SOL
O46 SO, this States part of the proceeds Of
tie sale Of public lands, 70 the same pm-
pose. This was principal not revenue,
and lbs misopplication has increased tie
State de5t Sc much.
They applied in ls4s and l84S s9s,o45
'O4 Of the proceeds Of stocks cold in New
York IN the same way, ThisincrrSsedthe
State debt so mach. They have applied
S84,8g2 10 Of the sinking fund, fund
provided 10 pay of the principal of the
Stale debt, to pay jaierea. Thus increus-
ing the STATE debt so muck. They have
thus, to raise funds to pay interest inyolV-
ed lhe State in permanent liabilities on
which she rs paying interest al least $l-
445, 500 90,
In addition TO all this, they have been for
years resorting 20 expedients at which .
hard run prtVate individual woHid blush,
making temporary loans, anticipating the
revenues, and using every doier OF all de-
scriptions Of funds in the State Treasury,
sA every semi-anTv IL payment Of interest,"
until as stated above, the eclGdi aCrewsges
of the Treasury OH account of interest on
the State debt are nearly or quite 81 ,000,-
900. Upon this awearage, whatever sum
it'may be, as every man conversam with
business will know, the State is paying .
higher rate Of interest than if ii were fan.
ded in State stocks at six per cent The
revenues then have been allowed TO fall
behind about S2,5OO,OOO and the debt in
creased 50 much to pay interest In addi-
ton to all this, they have, during the same
time, diminished the annual revenues Of the
State about $40 ,O0e per annumb 10y the de-
struction Of the property on which that a
mount Of taxes had been annually levied
and collected,
When We see an Individual increasing
his debts, by borrowing 10 pay interest, ant
at the same time decreasing the produc
tiveness OF his estate by waste or neglect
we at once conclude that he IS either seek
ing his own ruin, or that he does notknoW
what he is doing, Is not the same equally
true of State!
Will those who have directed the affair.
of the State for years past claim the bene
fit OF the alternative that they did not know
what they were doingl Hardly, think
Listen to she declarations Of leading mem
bers of the party in the Legislature last win
ter, that to accomplish a favoite purpose
they would gladly destroy the credit Of th'
State and reduce her to Reputation,
know some faint denials were made soOl
after, The aOoUals were premature AM
outran the policy of the more crafty, not th'
purpose.
And now put the plain questions to a
honest and pauiotic citizens of the State
without distinction Of party, how long cal
the State go on, IN the course ! have Sc
before you above, without ruin! Is Their
man amongst you who will harbor in hi
own bosom for a moment the thought q
seeing his State tarnished by reputation
| know there is not. know patriots
citizen, and every honest man is such
holds the honor of his State as dear as hi
own. What then is to he done! Thl
should be the enquiry with every one. Tht
was the question which forced itself upol
the Legislature. 1t was their duty to an
swer it. They have answered it. Wha
is the answer! They cast their eyes owe
the community and saw property invested
according to the pursuits, habits or taste o
the owner, in a variety Of ways. They be
heved it just and right that every on,
should, in proportion to his property, how
ever invested, contribute his share to bear
ing the public burdens. The property, no
the individual who owns it, thus bears thu
tax. Does man amongst you hear one
complaining of the tax! Ask him how
much he has to pay, and then ask him whe
ther he would have the tax to pay if he hac
not the property, or whether his property
pays any higher rate OF tax than his neigh
boris property does.
If one of those demarogncs WIN 90 a
bout from place to place retailing false YER
sons of the laws and false statements o
their provisions, comes along seeking Il