The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-27


iebrua; si.'.., 2olio IS ISLES % 1859 IS
March ........ b9,73l 06 243.379 90 1883 60
Total . slo5ol5 20 s42s.es2 ss s323e57 90
The road been rapidly extended and the receipts
This year of course, from greater length of line
This amount of income. from unfinished road is GER
tany extraordinary and slight indication Of what
will be realized when completed and connecting all the
great points along the contemplated route to the West
The house Of Clark, Dodge g. Co.. the well known
bankers and domestic exchange brokers Of Wall street
have Just organized bank at Springfield Illinois called
Clarks Exchange Bank under the free banking law of
that State They with circulating notes to the
amount Of two hundred and fifty thousand dollars
cured by deposit with the State Treasurer. of Illinois
and Missouri State stocks The circulation of this bank
will be increased wanted until it reaches half mil
lion dollars bank under this law will be started
at Peru Illinois. under the Of Illinois River Bank
Abe circulation which will be secured by deposits of Viz
gina State Stocks.
new bank is about being established in Troy, with
capital $500 600 Of which Geo Law is to be President
and principal stakeholder.
II is stated that the Peoples Mutual Fire Insurance
Company of Massachusetts has assessed its members
Fifty per of their premium notes to meet its losses
The total value Of exports from Baltimore to foreign
ports during the week ending the 2d inst amounted to
S67, 49y Sc.
The Milwaukee Sentinel notice. counterfeit three dol
lar bill Burchs Chicago Bank In circulation there
and elsewhere which very well calculated to deceive the
inexperienced unwary. 1t is very good imitation of
the genuine BILL the main difference being that the words
"Chicago Bankn in the original shaded while in the
counterfeit they clear.
has discovered that great many French silver
coin have been largely dcteroratcd in value The pro
has been to scale Of silver coin with
very out the silver in the middle, fill up with
rfol The md fhp
piece looking BEFORE those of the pieces thus altered
bear the efgy either Louis XVIII, Charles x,
Louis Philippe The fraud first detected in the Bank
Of France The depreciation amounts to about seven
tenths Of the first value.
The friends of the Schuykl Navigation, understand
anticipate difficulty in arranging the liabilities Of the
Company under the late law Of the Legislature and
ssngune Of resumng the payment Of interest the COM
mon loans within the present year.
The Legislature Of Maryland has, by a special act
which annex, authorized the city corporation Of
Baltimore to issue its bonds to the amount Of mil
lion five hundred thousand dollars in aid Of the
structon of the Parkersbsrg Railroad.
NORTHWESTERN VIRGINIA RAILROAD.
SIC. l. Bc it enacted by the General Assembly of
Maryland that the Mayor and CITY Council be- and they
hereby authorized and empowered to give such aid
tho Northwestern Railroad Company OF Virginia as
Railroad Company the stock bonds the said city,
condition that the said Railroad Company shall pay the
said bonds, until the when the
said railroad shall be completed and opened to the Ohio
river 10y guaranty Of the bonds of the said Railroad
Company. Provided, however, that the amount Tor
which tho said city shall be responsible shall not exceed
the Of one million five hundred thousand dollars.
SEC And be enacted hat to enable the said Mayor
and City Council to meet the liabilities to be incurred by
by them for principal interest, under the authority
hereby conferred them, they empowered hereby
over and above any existing privilege money here
toforc imposed upon them, borrow any amount f
money not exceeding one million and half Of dollars,
from such persons on such terms and for such length Of
fitup fhayt le Mayp nd ty
TO may find convenient and cxpedent tor the
pishment Of the purposes contemplated by this act
SIC. 5. And be 1t enacted That the said Mayer and
City Council Of Baltimore are hereby authorized and EN-
powered in addition to Of taxation heretofore
in the limits Of the city Of Baltimore, collect by tax.
according the usual mode of raising by taxation
In the said city of Baltimore any sums Of money
which may necessary pay and discharge the princi
pal and interest q any loan or loans which may be OBJ
tanned by the said Mayor and City Council OF Baltimore
in pursuance Of this act
The above is given for the purpose of showing the
tent to which this system Of contracting debts is carried
in most communities The city OF Baltimore has created
large indebtedness in this way and there Is hardly
city Of any magnitude in the Union which has not deeply
involved itself similar Baltimore very lately
sold several thousand shares Of stock in the Baltimore and
Ohio Railroad discount of thirty cent from cost
The state OF New York lost three millions Of dollars by
lending its credit to the Erie Railroad Company and in
several other instances have been realized in the
argcd their debts by the passage Of acts authorizing the
issue OF bonds to aid in the construction OF railroads
States have become involved in the system and un
less somng done to arrest this dangerous policy the
results will prove most disastrous.
We can hardly take up paper that does not contain
Advertisements Of the sale Of State city county or
village bonds issued in aid Of railroad company We
annex list Of some of those which have lately appeared
in the market -
Bonds Of the city Of Covngton Ky to aid the Coyng
ton aud Lexington Railroad.
Bonds Of the city Of Portsmouth, Ohio to aid sciota
and blocking Valley r, r.
Eoadr Of Ross county Ohio to aid Cincinnati and Ma
Bonds Of Miami Co, Ind to aid Peru and Indiana
Bonds Of the city Of Erie Penn, Erie Co. Warren Co
Elk Co Clinton Co, LyconiDg Co., Lock Haven borough
Penn. to aid sunbury and Erie X r.
Bonds Of Champaign Co.. Ohio 10 aid Columbus, Pe-
qua and Indiana X. X.
Bonds OF Alien Co. Ind. to aid Peru and Indianapolis
B.R.
Bonds Of the city of Maysvllc, Ky,l TO aid Mays
Bonds Of Bourbon Co, Ky, VILE and Licking.
Bonds Of fnyette Co., KY TON n II
Bonds Of Mason Co.. Ky,
Bonds o. Jackson Co Ohio. Allen Co Ohio, Van vert
Co. Ohio Clark Co.. OHIO all Issued to aid railroad com
paDies
There Of others which cannot at this mo-
meni call to mind all Issued for the purpose The
amount Of bonds issued by each county from to
two hundred thousand dollars these bonds issued
ndcr special acts Of the Legislature granting full powers
for The purpose and direct vote Of the people interest
"a Tlia IL all very well for the time but II is doubtful
how ou this Of things win last II Is stated that
d,,ttaxis levied to be set apart for the parposc
meeting the accruEp interest and to gradually romburs
~ rrucpa So long as tie people submit to this ley!
40 long "a the burden not weigh too hcayi
~ tb,, "a LONG A. The rulers 81 these corporations ar
d,.ro4A to enforce TIE Law % long all WI 20 o
,t.astb ga.tsL Lut G.crs !. ding"r any mon 'nt