The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1847-01-16

presented.
The sum OF two hundred thousand dol-
lars which is now annually appropriated TO
tie cancellation Of The relief issues, end
which is included in the estimates is dis
charging that amour. Of The public debt
yeaLy, aud is 10 fact an existing sinking
fund.
II therefore the conclusion al which
have arrived shall prove correct ihal the
taxes assessed under existing laws on tsat
and personal property with the ordinary
revenues and an amoanI from the public i'm
provemenls equal 10 that received during
The past year will prove sufficient to paw
Ihe interest on tho public debt and other de>
mands upon the Treasury the annual in-
crease OF tolls upon the public works may
be added 10 the present sinking fund Of two
hundred thousand dollars year. From lhs
experience OF !he three last preceding years
this increase may be fairly es,im ated for
some years 10 come az one hundred ihou-
sand dollars per annum, and if i, be added
annuslly to The existing fund for the cancel>
alion Of Ibe relief issues they will all be
laken ou, of circulation in about three years
al which time The State will have a sinking
fund Of half million Of dollars 10 COM
mence The liquidation of her funded debt.
rhe application of This fond annually with
is accruing interest 10 the purchase Of Ave
per cent. Slate stock at par will at The
md Of ten years, discharge ee,2sS, 92o of
Ihe public debt, and, a. the end OF twenty
years, Sl6,532,ssl, which will reduce The
debt, including the cancellation OF relief is-
sues, al the end OF twen.y.,hres years from
his time, to the sum ofs9s, IT'S, ,O32. The
ne, income from the public works will then
!. may be fairly presumed, be more han
ample to pay the in.eres. on the Stale debt,
and the people may be entirely relieved
rom all taxation, for the paymen. of in,er<
Est. In fact there is reason 10 believe. that
he increased wealth OF The State, and ihe
accumulation Of business on the .publs
works, will, al much earlier period admit
II important reductions in The taxes, with
N, retardiug The contamination of Ss fore.
.oing plan for reducing The debt. Nolwi!h~
Standing some may be disposed 10 visw
hese Suggestions as veionary, have The
most entire confidence in their practicabiIi-
y, provided the public works shall eonliu-
lie 10 be managed with integrity and skill,
he tax laws fairly executed, and the gov.
in all its departments, honestly &,
administered.
In connection with this subject, re-
'pecIfuly recommend 10 the General is
'embly the propriety and policy of propos-
ny to The people an amendment TO The con-
iituiOn Of the State under The form, of the
ebth article of that instrument, by which
he income from the public improvements
f'er deduclng the necessary expenses fos
epairs and superin!sudenrs- revenue
lrising from the Stale tax on real and psr-
'onsl property for certain period and such
'lher Items OF income as may be deemed
'xpedient 10 include shall be set spstt and
'e sacrecIy pledged for The payment, of Tho
nteress upon the public debt and ihe grad.
Ia liquidation OF The ptincipll
Such an amendment jsdicious!y arraug-
d. would iapprshend NEE, with ,hs dsci-
ed APPRECIATION of 1hs people Of The Com
1t would concentrate publin
redI. and lay the foundation Cur The faal
Of The public debt. 1t would
llvs an additional security and assurance TO
he people snd to The public creditors that
n no event could The public revenue be dis
'eried from its Legitimate objec, end would
urnish conclusive reasons for the promp,
md cheerful payment of The taxes.
| would respectfully recommend care.
III exam'na'ion of the operations OF The ex>
sung lax laws. Taxes however correctly
hey may be arranged by law fall 10 ccr.
sin extent unequally upon the people in
of their various circumstances
nd liabilities bot if TO this unavoidable re.
uII be added careless and lrreguSr assess-
nen's by which large amounts Of property
scape taxation great injustice ia done 10
hose who make an honest and full return
f their taxable property.
The adjustment BIZ Congress- of the ,o,s