New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-08-06

m, h.hls for The payment Of INC certificates as an
ordinary dett " IT Is true u4ai he I"oAily % ~
state IS limited 70 Obligation 10 regulate ihe h-i
tolls so as TO produce the .arses' amount i
80 ,acn "a aroiy the surplus. after diecilrEh NJ lir
rrlor hens created b. TIE Constitution, - me pa
meat OF ,hc certificate, N tfs uf'ef.a2ln ne "a
assumes d trust Of The 4icne-, Dong 4--oa n p..A
clDe OF good faith. uniformly recognllSi anu
uron hv our People is sufficient EudrAh-et TOT -
hones. Performance INDEPENDENT Oi e'ery eehsiit-
ration Of moral duty InasIauca ts ne cc~-i -
20 1t made the bass Of currency. INC f.I'. 49,.
Will be- directly interested ln MAINTAINING the l@'r-
nues and IN their faithful Application. -. Z IN
mare nc revenue ce-it ate "iihtle l.i'l 80
names ID winch such large amount -. 40.
s,,..c.cf Wraf Il the security for me F@tnith. %.
Railroad Rond--for instance. ne Sec'iN --.
Pos nj me Ncw-York and Enc Raiirodi Gonna
NJ Thcy rot entirely upon me income OF me 10 ~.
The lender parts WItl h.s none lffJh DIS .d'.4 I'D
the elIfricucv OF the f-adc and e'enue nj llH ihe
ana TINS DO effect is iis only stit,f mere i- pr
sonal rcsrO1 ity of shareholders. Ttc4r Ji'Y,
Ike that Of the state m the case under con.l Zero
tion s limited 20 the faithful admin slrtlol oi tif
copcern and the hone. application o. me re- -ue
Il the income sufficient. nc bonds are paid i)
not -.-
II NAV De- sad that tao corporate property o. 'ie
Railroai Company Pc pledged. Du, ne value o.
this properly IS measured by - nei income an y
the income lnadcqaie, resort 10 l-t zero :, ~
no avail beyond the intrinsic Va.le OF cream -.
and persona effects, which d. that 60 un5 hcy
wouid DC swep' Dy the FRS mortgage. ..,. 81.
II has been shown that the canal reFfnue' +" pc
certificates without any increase OF tolls er ihf
average ainoun. realized FOR thc las tse wears
Whether the future tolls vii iai below int' avg ego
or advance largely beyond D., espec. adv after u en-
largement shall BE- completed. is . question IS. zen
addresses fselftO the common sense OF PRACTICE NJ
siness men. who are competent 10 reason AMI he .e
for themselves on a propo.iuOh NHlh ht> ''e" -
farly tested bg our pat experience
IL has been SAID That the admission OF tho Cam
certificate. A. bass or banking VIII lead 70 a dam
ecrous EXPANSION q me currency. candid exam
nation OF the subject wi! show mat inis apprcacn
SON ike the one We have already discus ed Is d.to
ce.hCr imaginary u Arst be fcinem5efcd tl.- oif
present state DEBT. which snow employed as basis
Tor circulation. Will be reduced moro Than mar NIL
Ion annually. until 1875, and after that PERIOD more
than million annually. simultaneously "tI has
reduction OF the present basis. the charters of IN"
safety FunC Bank, are gradually expiring The cap-
ltal Of The Banks whose charters wI expire I'D less
:han 2 wears is $9I220J lthesc institutions con-
tnue business, they must deposit security win me
Bank Dcparfneli for the redemption OF their crcu-
latiOn II they decide 10 wind up, ne" institutions
must he formed 10 take tncir places, ana ia eiihtf
event the Canal Revenue certificates VIII 90 oArcy
sufficient 20 supply the rG~n7a. EfcLL'.oR