Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1846-12-15
VOLUME a, N uMBIR 27..

was about to be abandoned !; both of,the
banks, upon which The people had relied
for currency, had become insolvent
their paper had fallen 50 low as to cease
to circulate as money as yet no other
money had taken its place, leaving the
Epeople wholly des'ituts of circulating
medium, and universally in debt almost
Ievery one was indebted TO the merchants.
who were again indebted to the banks. or
to foreign merchants ; the banks owed
II.erery body, and mono were able to pay:
Eemigration to the State had almost ceased,
real estate was unsaleable; the people
abroad, terrified by the prospect Of high
! taxation, refused TO come amongst US for
! settlement, and our own people at home
1 were no less alarmed aud terrified at the
magnitude of our debt, then apparently so
much exceeding any known resources of
the country. Many were driven to abso-
lutte despair Of ever paying cent oft; &
it would have required but little counter.
ance and encouragement, in the then dis.
neaTtened and wayering condition of the
public mind, to5have plunged the State into
irretrievable inlamy. by open reputation.
This is not anexaggerated picture of our
affairs four years ago.
| In the last four years, matters have
been very considerably changed for the
/ better. The domestic debt of the trea.
sury, instead of being three hundred and
thirteen thousand dollars for the ordinary
| expenses ofthe government, is now only
S3l, 2l2; and there is 80 269 in the
| treasury. not counting the sum due from
| the u. S. to the school fund; and Auditors
warrants are at par, or very nearly so;
the banks have been put into liquidation;
their circulation has been retired, and its
place supplied by reasonable abundance
of gold and silver coins, and the paper Of
solvent banks in other States; the peo- q
pie have generally'paid theirprivate debts,
and now stand upon the high platform Of
freemen, ldboring for themselves and their
own families, instead of being slaves to
the demands of creditors; a very consid-
cradle portion of the State debt has 6een
paid or provided for; about three millions
of dollars has been paid by a sale of the
public property, and by putting the banks
into liquidation; and FIVE millions more has
been effectualy provided for, to be paid af
ter the complexion of the canal; being
reduction of eight millions of the State
debt, which has been made or effectually
provided for within the last four years; the
State itself although broken and discredit-
ed at one time throughout the civilized
world, has been enabled to borrow on the
credit gifts property, one million six hum.
dred thousand dollars. to complete the ca
nal; the people abroad, have once moro
bo l.; ~.
the home of the emigrant. Our popula-
ton has rapidly increased, and is now in
creasing faster than il ever did before
our people AT home have become moro
contented aud happy they have ceased
10 be terrified by the magnitude of the
State debt, and the imagined inability Of
the State to pay it; they have cheertuhy
submitted to taxation. as FIR as they were
able. to meet the public liabilities; and
have thereby manifested to the world,
that they possess heroic virtue, capable
ofany sacrifices demanded by integrity
and patriotism; and il is with unbounded
satisfaction that now announce TO the
General Assembly that the former dis
credit resting upon our people in other
States, for supposed delinquencies in
paying their debts, no longer exists; and
that the reputation Of Illinois and its
citizens now stands proudly fair and hon.
orabie amongst her sister States, and the
great family of nations in the civilized
world.
repeat again, that it is with Just
pride, and very high satisfaction, thatI
am enabled to announce these results;
and to Claim, as truly may; tina: have at
all times fully concurred with the Legis-
lature in all the measures which have
been instrumental, so far as legislation
could be instrumental in producing them;
and also that have faithfully endeayor-
ed to carry out and execute to the best
of my ability, all the laws which have
been passed for this purpose. However,
it must be acknowledged that much moro
credit for this altered stale of things is
due to the gallant spirit and to the recn-
peratiye energies of the people, than TO
any agency of law or government.
That may have committed some err
rors, is not to be qae stoned. Toerr, be-
longs to all the family Of man, in their
present imperIect state; bat whatever err
rors | may have committed, trust were
the errors of bad judgement, rather Than
of a dishonest purpose. Without having
INDUCED in wasfefcl or extraxagans habits
or living retire from Office poorer ,iaD
came in; and 60 to private life with
full DISSEMINATION not to seek aga'c' any
place IN the government. retire from
the exercise Of high powell, with hs1f'-
fell eratiin6s and Joy; gratlinde, Tor he
many Iavors I have received At be hands