The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-07-31

eminent stocks and all Others state stocks nom svps
thy, are similarly Affected
The finances Of the State Of Michigan are rapidly i'm
proving. Funds on hand to pay the interest
due In January on the debt Of the State
This debt on the LIST Of January last including inte
rest was reduced to sss74o by the sale of the Gen.
trai ana southern railroads, costing S334s asa, for
$2,OOO,oOo A tax Of $4,000 has been laid for the
punctsa payment Of interest January next The
purchasers OF the road are to pay tax of per
on their capital until 1851 after that time tar of
Y per cent on all their property 1t Is estimated that In
1852 this tax will be $50 leaving but $57 800 to be
collected by general tax, about equal mill ON the
dollar OF the taxables In the State The debt will also
be decreased by the sale of lands So belonging to the
State valued at over 100000 for which State indebted
ness will be received.
The public works Of the States still continue sxcssd
ingy productive and the returns so far received show
an increase vary ing from to fifty Der cent on
the income tor the corresponding period last year.
Inc pupc works OF pennsylvania show the largest in
crease, 1t having been, up to the LIST Of July full ATTY
per cent; those OF this State show nearly fifty while
those of Ohio show only about twenty per cent in
crease. The falling of in the prices Of produce NAV
tend to reduction in the income Of our public works
by keeping back breadstus but it is our impression
that the falling OIL In the receipts the canals of New
York, Pennsylvania and Ohio, win be but temporary IA
the press Of produce to the seaboard from the interior
will be so great when the producers become satisfied
that prices cannot go much above ruling rates. that the
capacity Of all these works will be taxed to the utmost
and the income be very large.
The harvests will In all probability be immense even
immense beyond previous yields our surplus is like
y to be larger than before known and an outlet
must be found for great portion of this surplus The
principal demand for it, is expected from Great Britain
Wa frusk oip
wise prices must fall below remunerating points Eng
land will want large amount of breadstus and If we
can afford to supply her lower than any other nation we
shall control her markets. The favorable effect upon
home prices, which expectation of even small DER
cent OF the surplus has is such to induce shipments
even at small sacrifice upon payment Of cost and
charges The market price of Indian In this coun
try advanced more than one hundred per cent on sup
ply of four hundred millions Of an expectation
Of about twenty millions OF bushels only about one
twentieth part five per cent of the full supply This
shows the immense influence upon prices the shipment
OF very small amount compared with the aggregate
quantity has and also shows that necessary to get
rid OF portion Of surplus, at rate The high
prices which have ruled for breadsus for time past
has placed agricultural classes in very prosperous
position, and many WILL without doubt refuse to part
with their surplus at present prices There will not be-
season, as there would be II prices ruled high
The semi-annual dividend of interest on the public
debt OF Pennsylvania due the LIST Of August will be
paid on the second the hrst coming Sunday In full
the treasurer having ample funds to meet that payment
ana Will probably have q surplus left The temporary
loan Of two hundred thousand dollars which was made
to supply the deficit in the treasury on the LIST Of
February last to the semi interest then due
was promptly paid at the time stipulated The
the treasury Of Pennsylvania will derive from the public
works Of that State this year. will enable the treasurer
to meet future payments promptly, and without antic
pating the payment of taxes The amount In arrears
last February made deficiency for August which COM
PEELED the treasurer to call upon the county commits
soners for the payment Of taxes In advance The in
crease in tolls has already been greater than that
fciency and the treasury is therefore, not only free
from all arrearages, bnt probably has balance over
The amount Of taxes anticipated will be more than
made up by the increase In tolls between this and No.
vsmber, 30 that the interest due in February will
drain the treasury much previous payments have