The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-03-10

Several Of the State Legislatures have adjourned with
in the past two weeks and the position Of most Of
State debts remains without sny material alteration
There Is every prospect offs productive season for all
works Of internal improvement; and changes
have been made in the tariff Of any Of the boards
of public works may anticipate very great
son Of bu,iuess Several lines Of canals and rail-
roads will this year be in active operation and impor
tant extensions Of Of the old line, will be ready by
the opening Of INV CATION. The Illinois and Michigan
canal will be open BY the FIRST of April and from the
extent Of the made fer the construction
Of boats have doubt that by the middle Of April
the fret Of May the whole line Of the canal will be
"a Q state OF the greatest activity The immense i'm
portancs Of this canal s by appreciated Is
supposed by many that this line will have to depend
prnop lily upon the interior Of the State of Illinois for
buainess while that will be but limited source,
pared With the immense qusnty of produces from the
shores Of the Mississippi and Missouri rivers and from
the interior of the State Of Missouri that will seek
outlet and conveyance to MARKET through this chan
mel In preference to all others large portion of the
produce drawn from the extreme west through this
canal Hndi way through the canals Of this state to
tide water and producers In that section of the
Try will enjoy facilities for getting their products to
market equal to msay located Of miles
the Atlantic shore. We form idea Of the probs
bic amount fbuslress this important work will receive
this vesrt will have full Of operations; and
although there is doubt but that the income will
coed the most sargupe estimates cannot form any
idea Of the probable amount The bondhoidsrs Ct ILL.,
nois will watch every movement made relative to this
work With he ercstess interest," the improvement in
the financial condition of the state depends entirely upon
its produotiveness.
The public works Of Indiana in order for the re-
sumption OF navigation and tariff CT tolls has been NJ
tuy agreed upon between the board Of public works in
Ohio and the agent Of the Indiana bsndholders The
forwardcrs on ths line anticipated reduction and have
therefore been aisappointed but far can saru
the rates by exorbitant and will not check
the forwarding OF produce to any extent Tho extern
sion Of tho csns In this State Is rapidly progressing
and there IL no doubt but that under the existing
eauizatiou of the caaa board the work will BIS
peted rs expedltiousiy and economically as pos
sibs IL Is matter for congratuaton that the nnau
ces of Indiana have under the new arrangement in
proved so rapidly; and although IL may require con-
siderable larse Of tims before the bondholders Will
csive the full interest their they must fee
satned that every portion Of their claims will ultimately
be repaid The interest the States portion Of the
public debt, under the arrangement, has been
promptly paid and long before the period set for re-
sumption Of tho whole annual interest," and the payment
OF interest SCRIP issued for interest Ia arrears the
State wiz be able to pay the full amount promised Ia
the meantime the revenue from the canal will be annually
increasing, and PARTIAL payments OF interest the
canal rsrt of tho bonds made
This finances of Indiana and Illinois must advance
they cannot 60 back the value of taxable property II
each Is increasing so rapidly that n moderate rate o
taxation, with the revsnue from thsir public works. and
the proceeds Of their public lands will sucs to provide
for the annual interest their debts IL Is impossible
form any idea growth prosre Of the
States; they have hitherto advanced ~ much bsyon,