The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-02-27

will be perceived that there has been very decided
Improvement in most of the State securities within the
past month The stocks Of of the delinquent States
have not only improved in market value but In real
value and we much question if the actual value of the
bonds Of Indiana and Illinois has with great
or rapdity than the market value The public debts Of
these States, and might include Michigan have re-
Gently been placed upon favorable foundation
than they ever were The burdens upon the taxable
property Of each State have been much reduced and
resumption Of interest ensured at an earlier day than
has heretofore been deemed possible. In annuliing
large amount Of the bonds Of the State Of Indiana and II
lnos, by transferring the income of the public works to
trustees for the of the interest that portion
of the public debt the staesre relieved of
much indebtedness, and tho public finances much i'm
proved These public works held by the bondhods
ers who have cancelled certain amount Of the bond.
for the security Of their claims and for the payment Of
interest the debt and have claim upon the trsasu
ry Of either State for fraction If these public works
produce net revenue than sufficient to pay the
interest on that portion OF the public debt depending upon
them for such the balance of course goes into
the treasury ofthe State for the paym far will
go OF the interest the other part of the public debt
In the meantime, the of each state from taxa
ton are appropriated to the payment Of ordinary sx
penditures OF the government, and to the payment of
fractional part Of the annual interest on the bonds now
outstanding.
This arrangement has, in opinion, improved the
finances Of the States Of Indiana and Illinois very ma
teriay but there is another going on calcu.
lated to increase the value of the stocks these States
TO much greater extent and that is the rapid improve
mont in tho value of lands within their limits The ex
ensive demand for staple agricultural products and
the high prices ruling this and all the other markets
of the country must make the prolific lands of each of
these States much sought after, and very desirable
We are likely to have permanent demand from
Foreign countries, for our staple agricultural pro-
ducts, particularly wheat and corn; and the soil of
Indiana and Illinois being peculiarly adapted to
the cultivation of these grains it must rapidly in.
crease in value by an influx of settlers The popua
ton OF these States has for years past
more rapidly than that of any other the Union
notwithstanding the heavy rate of taxation and the
odum OF delinquency which has existed long in each
OF them We have doubt that emigra, ion TO
these states has been somewhat checked by the fear of
heavy taxes, &c but those objections having been par
tally removed the population will without doubt in
crease more rapidly than has heretofore The lands
owned by the States by the Bank Of Illinois, the Bank
OF Indiana, and other incorporated institutions and by
nonrssdsns, will como into the market and find ready
purchasers at enhanced prices The completion of the
public works Of these States could be more oppor
tune as they give outlet for produce IRON the int.
riOr Of each State, and bring lands near markets
from which they have hitherto been shut out
These products become, therefore, more valuable
ct the place OF production and lands these outlets
OF course. valuable These fine times for tho
farmers and is our impression that this class will con
tnue to remunerating prices for their
We look for an annual deficiency in the harvests Eu
rope to an extent sufficient create demand for exter
nal suPpiies large enough to keep up prices in this
country to fair paying point This will sustain the se.
ricultural pice their prosperity upon pro-
be- md hy 81.
increase in the domestic demand for consumption
The finances OF the general government have impro.
ved very much within the past few weeks. Treasurv
notes bearing interest at the rate Of six per cent are in
demand and bear premium, which will enable the gov
eminent to raise all the money it wants The ndsnen
dent treasury ID virtually dead letter. and will remain
SO at present. or 70 long tho demands upon the Trsa
sury are SO much larger than the income Specie can
not accumulate in the hands Of the Sub Treasurers 30
long expenditures continue so large but the banks
arc kept in check by it, they know not what day NAV
bring forh and therefore, under restraint pursp;nr
very causus policy their operations within pro
per limits and confning them to the Legitimate chapnsla
oil commerce The independent treasury is therefore
even IN It's present eless state valuable conservative
measure, calculated to maintain uniform veme Mt In
our banking institutions and to keep the currency clear
OF those sudden expansions and which pre
vious financial systems OF the have bee the
prime cause Of The stringent effect of the
treasury 81 stem will be felt after the war closes
when the finances Of the government have become more
settled and the expenditures reduced to the ordinary
amount We shall then have specie currency to such
an extent that the banks will DO compelled to reduce
their operations to the lowest point and prices for every
description Of property become reduced to that stand
ard
Old Stock Exchange.
SjVoo m 500 -; ~ loA 100 shs Read RR boo 50
$1,000 Read Mort BIDS rs ~" o 10 Ia. SM
$1,000 Rs,d Bds ~ ~ 20 20 b60 60A
$1,000 Ohio rs Iosk ~ 20 slms oy&
GEO shs Farm Lean Soe n.y., So 90 oOds 60
30 do b,s 55ss,e iioooo do 5oh