The Democratic sentinel. [volume] (Cadiz, Ohio) 1852-1853, 1853-08-24
From the Ohio State Democrat
Wing Financiering--Why the
Taxes are High.

Taxes are High.
The whig leaders ask the people at the
coming election again to trust the State
government ino their own hands as the or
ly party capable of managing its affairs -
This comes well from party the bIunders
and dishonesty of whose leading men have
so largely increased the State debt, and
whose fnanciering at one time so shook the
credit Of the State, tina. ALFRED KELLEY, a
leading whig, then one of the Canal Fund
Commissioners, made money by bonus
which he received for going the security Of
the great State of Ohio that she would pay
the interest en- her State indebtedness.
As sample of wing fnanciering we will
give few facts from the record. In lG4l
;he wings rode iato power on the hard cider
huma, and ALE. KELLEY, GUsTAvUs SWAY,
and N. H. SwAYNE, all of this city, and all
leading wings, succeeded to the financial
ers Of the Canal Fun !. The credit of the
State was then good-her interest had been
puctuaily paid and her stocks and credit
stood as hig hasan in the market. BY their
management or mismanagement--they
sold State Stocks amounting to ST ,023, 500
al rates running from 70 to 5O} cents on
the dollar, and By which operation the
State lost, tile large &um Of FOUR HUMID
| RED AND THIRTY TWO THOUSAND D
I'VE HUNDRED AND ONE DOL
LARS AND TWELVE CENTS, which
large amount is added TO the State debt,
without the State receiving any benefit
therefor, and is to be paid by the taxes of
a cheated people, whose only fault was their
misfortune in having whig rulers. 1t was
at ths time, when, the Barings' and other
English stock iobbers had SO swindIed the
State, ard bought her Stocks at but little
over one half the amount called for on their
| face, that another creditor Of the State of
Ohio, Justly alarmed for fear the State would
Irepudiate, got MIR. Alfred Kelly, one Of the
Commissioners, WHO had thus sacrificed the
State credit and the money Of the people,
! for a consideration in money, to go the Sc
curity of Ohio that the semi-annual interest
on her State debt would be paid, and the
result was, that while the people of Ohio
lost near ONE HALE MILLION DOL
LARS, Mr.. Kelly pockcted his bonus and
thus made money by the operation
The people Of Ohio indignant at the out
rage, and fearing still greater losses by these
whig leaders, hurled that party from pow
en- and the credit of Ohio apain rose. and
under Democratic rule it stood as it now
stands, and as it always should stand, as
good as that OF any State in the Onion.
Again whigecry cot power: The people
were taxed heavily 10 uioyde means to uav
off the State debt as Ii became due, and to
provide means to nav the interest, The
money for the former purpose was placed
in the State Treasury, there to remain until
sacredIy applied to the object for which it
WAS raised. This did not suit whig Fnan.
ciers and the Board of Fund Commissioners
CONSISTING Of T.. n, Sill, as actinr. and A
! A. Bliss and John Woods, az advisory mem
| bers Of the Board of Canal Fund Commits
sioners, not only without Authority bat in
direct violation oflaw loaned ONE HUN
DRED THOUSAND DOLLARS OF the
peoples money thus raised by taxqtion, to
rotten insurance company in Columbus.
So secret was the matter kept, that nothing
was known of it until the Democracy in 49,
81 carried the STATE and swept out the whiy
offers and then, this whjg Insurance com
pany exploded and thus tie one hundred
thousand dollars. thus loaned was lost. and
unless it can be recovered from the Fund
Commissioners and their suretles, land we
are clad TO hear that suit to recoverit has
been commenced by the Attorney General,
it will be total loss.
Here then are two samples of whig FL
nancierng by which FIVE HUNDRED
AND THIRTY TWO THOUSAND FIVE
HUNDRED AND ONE DOLLARS AND
TWELVE CENTS, has been lost to the
Treasury Of the State, and all Of which has
to be made up by the taxes drawn from
the pockets of the Farmers Mechanics and
other citizens.
The whg leaders abuse the Tax law and
roundly assert that the taxes are too high
that thev are oppressive on the people
Grant that they are higher than they ought
to bc---grant they are oppressive, it is The
Democracy not the wings who nave right
10 complain lof II wing inanclerS had not
Sqaahaefea the money o. the People-had
lhey not loaned IL 10 inso'Veht insurance
companies mere would nave been no neces-
seslty iol such high laXes' tor then tins FIVE
huNEREp AND THIRTY TWO THOUSAND DOL
LARS would nave renamed IN the state lrea,
Sufy OF nave peen applied to the payment OF
the otate deot' and the Taxes OF the people
would nave been lSSSened that amount.