The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-11-11

and general smash Be experienced here, well In
England 1t 10 only by sriot adherence TO the nnan-
cisl principles upon which the Bank Of England is at
present ESTABLISHED and by strict contraction In indi
vidual credits that preserve Great Britain
for few years longer, the commercial supremacy she
has so long enjoyed almost without rival. With the
best financial and commercial policy abe can adopt
the exchanges will steadily increase in favor OF the
United States; until ultimately this city, the great
metropolis Of the Union, will become the grand hnan
cial centre of the world. Under the most favorable
circumstances Great Britain cannot maintain for any
length Of time the position she has occupied
in the commercial world She has rival in the United
States which is progressing with immense strides and
must ere long command the Of the universe
The United States and Great Britain rivals, and
whstever injuries is beneficial to the other. The
very evils which England Is suffering from, will
prove immensely advantageous to II Is argued by
many that cannot be- deprived Of such a large
toner she has been to without suffering some this
Is to certain extent very true but the effect tempo
rary and leads to the grestst goodt equalisss the
markets for products distributes them and opens
direct trade between and the countries of oon
mental Europe We have heretofore depended too much
upon great market instead OF sending staples
direct to the countries requiring them for oonsumption
va have sent them to England and depended upon that
market too much for interests Prices Of prin
Opal exporting staples have been regulated specu
lstors Of Great Britain, and any revulson In the
commercial financial affairs of that country has had
an injurious effect upon prices, which should have
avoided had the of demand been more distri-
buted.
The aggregate value Of taxable property the State
OF Kentucky, ct present. Is $a5a7 The tax this
valuation fifteen cents the 500; and third OF
the thus secured Is set apart law in aid of
%
the principal Of the public debt The siukng fund has
other resources namely dividends on bank Stock tax
banks income from tolls turnpike roads and slack.
watered rivers lease of railroad profits Of penitsntary
&c and 1t has failed punctually to pay any de-
msnd upon It, The principal Of the debt Of Kentucky is
about four millions Of dollars.
The State Treasurer Of Pennsylvania has issued his
usual circular to the commissioners and reasurers
each county There is doubt but with proper efforts
the part Of these officers tho semi interest on
the state debt due In February, will be promptly and
fully paid.
FINANCES OF PEsNsYLvANiA-TREAsuRE CIRCULAR
10 the Commissisners and Treasurer Of - county
As the damage done to the canal by the late food will
dim nish the receipts Of the treasury to very cousde
GERS Of the counties in the stats to coec and
pay over promptly and fully all State taxes that are
now due to the Commonwealth.
Some counties paid into the State Treasury their
spectye quotas OF the Stats tax for this year prior
the first OF August last many paid part and others
have not made any payment In many of the counties
there are baances due for the taxes OF previous
There Is also In the hands Of different officers who
constituted receivers OF public money, considerable
amount which has not been paid into the State
Treasury
Under these circumstances, 1t becomes my duty to
urge the necessity Of speedy collection of all State
and public dues 1t is important that all officers
entrusted with the collection of public money should BE-
active in the discharge Of their duties The present
will he met by proper spirit Of fidelity their part
The integrity and credit OF the State depend upon their
action IL her public faith is they viii share
largely 10 the honor but It Is broken the disgrace
that will follow will b. justly attributed to their neglect
Of official duty
You will show this to the Prothonosry, Register and
Recorder Of your county who will receive the as
it were personally addressed to them.
JOHN BANKS, State Treasurer.
This shows the position Of the finances Of the State
and will give those interested all the necessary in
formation the subject. The income from the public
works has been large, showing handsome increase on
that of last year, but not so large anticipated
would have been realized had the damage to the works
NO haen al