Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1849-05-25
The Debt OF Ohin Arain.

The Statesman asspris that. under the present
provisions Of the tax law. "the State debt, with
aul ruin 10 the industrious classes, can never be
paid" Now It is morally ceaain that, if our
present policy is presevered IN. comparatively
lew years will entirely annhilaIs the Stale debt,
aud leave Ohio in The possession Of a splendid
revenue from her Improvements. And this will
be accomplished without any further increase of
the bunhen Of taxation.
Last winter the Whig party had, through
lreachery, 10 bear much modification and insult.
But farther than this, there is not so much TO
complain of-ceuainly there is no cause for
dependency. True, some important offices
were badly filled, but their financial policy and
the schemes for sinking the STATE debt remained
untouched through this perious crisis, and will,
we 5elieve, be fully sustained by The people Of
Ohio.
But the Statesman goes on:
ave have shown, not by bare assertion, but
BY facts from the documents, the squandering of
the peoples money by the whig leaders-the
stab they gave to the credit Of The State, by sell.
/ ing its bonds for fifty cents on the dollar" &c.
The stab, lorsoolh! Ii was but the medicine
7
honor of the State By the stabs given by your
Byinglons and McNuIys, backed by the Ohio
Statesman. The bonds were sold at the high.
est prices they would bring in the market. Pay.
menls OF interest were about due, and the trea.
sury empty. The bonds were therefore sold
for what they would bring-they were sacr
feed to save the credit Of the State. The slal
was gwen before, when noisy scoundrels in oul
Legislative councils were bowling the culpursc
cry of reputation in the ears Of the public cred
ilor. ID was this cry which sunk the bonds
half their value, aud compelled the people q
Ohio 10 pay twice for the money they got. HaC
these fellows been in their proper place, quiet
Iy making saddletrees and roller buckles lo
Peter Hayden, the bonds might have been sole
for about par.
The old saying, "honesly is the best policy
+. is more of n Yankee maxim than moral pre-
cept The objection TO it is that ii merely class
es honesty among those commodirirswhch ma
be dealt in proflably. Bul we would slrong
, recommend il 10 those who would be insensibI
II To any higher appeal
II One great cause Of the enormous expense {
d these canals is the fact that threats Of Gishur
esI course by some politicians, the leaders of
large political parry, reduced the value Of ou
bonds. Capitalists would not, of course, TAX
;. unceroin bonds unless they gel them ut bal
:. gain. The consequence was. that for ever
"a sixty 9r seventy doIars which we got in none
we agreed To pay, At some future period, on
: hundred, with interest. So that these threats
IS dishonesty have cost the people Of Ohio man
]. millions Of dollars.
BuI the debt is upon US. Locofocosm Gre
4 Oied it, but has not devised, nor even propose
any means for paying it off. Our own pro,
% perily requires its exIinclion,-every principl
of justice aud every sentiment of honor demand
;. that it shall be paid, to The uuermost lmlhng.-
The Wings have adopted system OF laxaIio
fully competent TO this HercuIean task, and o
. . the whole just and equaI There is but one wa
10 to pay the debt aud that is by means Of taxation
And though this may be oppressive, it is rende
ed necessary by the past errors Of our publ
., counseIIors.-Springfeld Republic.