The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1853-01-15

Gus sources as assumed, should prove correct,
that at the expiration Of seven years from the
first Of January, 1857. there would be in the
treasury the sum Of ss,ls+eiS IS above paying
the entire state debt. But fearing the above cal.
culatisn may be based upon too high rate Of
increase Of taxable property, and too large
amount Of receipts from the Central Railroad,
canal revenue, and bank stock, make another
computation Of revenue, TO be derived frcn the
different sources, from January LIST, 1857, to
January lat, 1854 Assuming the, taxable property
OF he state to increase at the rate al 10 per cent,
per snnum, Chat being the ratio Of increase for
the past tive years. the canal revenue as assumed
to be the first of January, 1857 the Central Rail.
road 10 yield only one half the amount as contsm.
plated by the compasy, the bank stock to remain
rs assumed on the first Of January, $50, then the
financial condition of the state would stand Us ap-
pears in the following statement:
State debt, principal
and interr lsnu-
ary LIST, 1857, SO 2TS s6s Il
! Amount OF interest on
! the same, year end
ing la jan, 1861, ASSOC 81
! i59O s72 e.
/ Amount OF revenue for
I state debt, assuming
| the increase at lOper
| cent perannum from
| the LIST OF January,
! lS5f, TO lst January,
1854 seven years, :sO,7 1900
Interest on the above
! from time dn- from
! i ~, u.i.e "u 70, nom
! - Ian'ary' '''''" Sos iec M
Amonn, aS rs,.,,,s n
! pay interest AT same
| rate from Is, lama
ary, 1857. 10 Isl JAM
uary, ls64. 5O2i,956 90
Canal tolls from LIST
January, lco. 10 Isl ,,oo
1 January, l,oi' III, i'io4'''''
frn,, nm; U,' 'a aniI..,aJ
! IN Ist l,nunrv 1851 los $1,000
| Amount received of
! gross proceeds ofthe
! Central Railroad
rom the time hnlsh-
"a 20 10 Isl January,
80, a, one ,, Mam 'i'I
| nv tbs comnnnv or
slli OO0 per wear,
TO LIST January, 1861, llS $1,000
! The amount of reve-
! nue. rrcelved from
! oanH Stock assnln,
~ "Tt " $3.50
| Is51 ~ Ia, Ianuary
! 1861 500 zoo per
year, ISIS 10000
Interest on the same
from the time receiv-
edeach year, to LIST
January i'o'' "A iIs 10 90
Anorr, or stat. doh, $500
Isl January is6i, s74Oso g?
If tsi, last statement should be found 10 be-
low enough estimate of the increase Of our revs-
nue., ami the receipts of the Central Railroad for
seven wears from the lst of January. 1857, to
the ST of January. 1864 then, Oh the lst day Of
January, 1864 the whole amount Of the state
debt would BE-, principal aud interest, s7i,0s GO.
This last statement | hazard the opinion will be
realized if the taxes for state debt and interest
are KEEP, as now authorized by law. But should
the constitution be So altered that the two mill
tax can be applied 80 rs to purchase that amount
each wear in the Indebtedness Of the state, the
payment of the state debt would be contaminated
much sooner. The amount Of school, college and
seminary fund Of this state, Up to lst January
1858, is s95l ,504O7, which forms part of the
state de bt not estimated in the foregoing. but as
tho sum ed to the several counties Of the state
for a specific purpose, the interest is collected
from the people and Immediately paid back for
the support Of .heir schools, which places this
portion of the state debt on a different footing
with the balance In any view that can be taken
Of our financial affairs they are most hattering
considering the clouds of despondency that not
long sipce hung over Us
The people Of Illinois, in common with all the
states interested in the commerce of the Nissis.
sippi valley Justly feel great in,eres. ia the /
difficulties which have lately sprung up with the
Island Of Cuba. Living within our waters in a
position TO command the mouth of the Mississippi, |
it cannot be otherwise than that he people OF the
valley of thi. river should feel great solctrde at
every circumstance connected with 1t calculated |
to endanrer or intercept their commerce. While |
they would strongly reprobate any infraction Of
the great priuciples of national Justice on one
hand, they will on the other, expect from the /
general government. every exercise of visor ne
cessarv Tor the protection Of our commerce, and
will at times stand ready, las We have shown our
IN tho exercise Of such power. Thi, solicitude ]
and apprehension would lie greatly increased at
II. Il. Il, A