The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-15

State and government stocks have within the past
two weeks advanced very rapidly and the Improvement
appears to be Of permanent character having been
based upon Increased income of the public Of
some Of the States and the partial resumption of interest
the debts Of others
Illinois and Indiana have within the past year or two
improved more than ny per cent in credit, and the
odium Of delinquency is rapidly disappearing. The
bonds Of these two States the best in the
country, and in very few years (much sooner than
many anticpste the full interest will be paid promptly
aud regularly The recent demand for breadstufs and
the high prices ruling for every species Of agricultural
have given impetus to the progress and pros
perity Of Illinois and Indiana, important than
before experienced within the history Of these States
Every thing contested with their finances il in
healthy state aud their population is rapidly increasing
and the lands owned by each State commanding
high prices in the market We congratulate the bond.
holders upon the change In their prospects, we
graduate the people and the Of these States
both individually and collectively, upon the improved
prospects Of their public affairs
Reputation and delinquency rapidly going out Of
sight, aud they will DO among the things that wers
never to be beard Of again. Delinquency has been
Of the greatest blessings have enjoyed in tho
financial world; and coming at the moment it did,
saved from being plunged deeper into the depths
Of bankruptcy and placed beyond all hopes Of rsdemp-
ten. Had the Western States avoided delinquency
much longer had they increased their debt much be-
You'd where 1t arrested had they made greater
css to meet the annual interest their debts repu-
eiation would have been the result instead Of den-
qusncy, and the bondholders Of Illinois and Indiana
would have been In position similar to those Of Mssis-
sipp and Michigan. Delinquency is rank enough in oil
conscience but it has purified the financial condition Of
these States which running riot in every kind Of
extravaganza connected with public works. Repudia
ton smells to heaven and its corruptng influence
powerful that very desperate effort will be required to
its stain from every State which has adopted It,
We have however that tho time far distant
when thie will be oblterated when all recollection
Of either reputation or delinquency will be lost
There 10 . vast difference between delinquency and
reputation The FIRST is merely suspension Of pay.
ment while the ether Is refusal Of payment, refu
sal to acknowledge the claim Illinois and Indiana have
always acknowledged their Indebtedness but they have
been compelled to admit their inability meet the pay
ment Of interest The interest every dollar Of the
principal and the scrip of interest after
It Is funded will be promptly paid and the credit OF
those States will ultimately stand high as that Of any
other State in the confedeacy The riches OF these
states beyond all calculation. As yet We have but
touched the surface of the so-whcn dive into it's
depths, shall without doubt discover sources Of
wealth equal those any other State In the Union
The European holders OF Donub nave
made them relative to- the policy pur-
sued by their agents this country known the So
reign Trustees az will trust bring about mme-
diate change the board These trustees have recent
ly published letter. to addressed to them
Nv a committee appointed at meeting Of the resident
bondholder aud must admit that it the weakest at-
tempt Of the kind to reute the charges made we have
seen long time The principal point touched upon
s that relative to the completion Of the canal When
the work recommended under the arrangement
made by Col OAKLEY 1t was estimated that the canal
could be completed In three years to this estimate
the foreign resident trustees refor with the as
sertion, that long the completed within that
period they have fulfilled the letter of their bond II n
well known that the canal could have been COMPLETED
by the 4h Of July s aud been In navigabe order and
in active operation that time TO tho close of navi
gait n by which she grain growers Of Illinois and the
grain consumers NIL ever the world, would have been
vastly benefited As 1t Is the canal will not be oompe-
ted until November and not open for the
Of merchandise until the spring Of lss nearly one year
later than would have BEEN had of the trustees been
on tho line of the work when their presence
The people along the eanaare well acquainted with Col
oasy perseverance, and energy since his sppointmsus