New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-10-13
NEW.YORK DAILY TRIBUNE, FRIDAY, OCTOBER 49, 1854
s1c $50 for The same week Of last year, showing an
;,.,e,ss OF eis37. The kor~aik R,f1c,or saws:

s1e $50 for fhe same week Of last year, showing
increase Of si,ss7. The Nor~aik R.soe,Or SAYS:
"Tbe travel over tho southern division of the C.
and r. Railroad 10 immense. II has been ncrea,ing
foy some tine until the trains numbered 1 ani II
fr-tclass cars. The night train going West on the
the tb contained y and there were at ea.t 100
pa sengers who eoule not get seas The morning
train on tbe 9th had u frst-class cars all fal AT
Monroevle. as we learn, there were 200 passengers
waiting to 90 West, and some 50 at Clyde.'
A meeting Of the stockholders Of the Sara.ogs and
Washington Railroad is called for the 18th inst at
Saratoga Springs, for the purpose Of taking some
action for the payment Of the Second Mortgage Bonds
and interest falling due let January next The MAJ
seers Of the Michigan Central and Michigan Southern
Railroads. had a meeting in Boston this week, at
which harmonious measures were concerted for
working these two lines without the competition which
has heretofore been expensive 10 both. The mess
adopted involve the discharge Of runners shut
ting up Of agencies and advance Of fares, both on
passengers and freight, TO reDunerative points. This
is very judicious move, and we congratulate the
stockholders Of the two Companies upon The abandon
ment Of the belgerent position in which the roads
have hitherto stood. They command great East
and West route over which the traffic il ample for
the whole capacity Of both roads.
The Erie Examining Committees report ia ready
but has not yet been made to the Directors. The
DELAY ia in consequence Of the affection which has
fallen upon Mr.. jas Browr, the Chairman Of the
Committee. which units him for business II will
probably be submitted to the Board Oh Saturday
The Panama Road, it is promised, will be completed
by the lst January. The cars now run to the Sum-
NIT, which is III miles from Panama. OF this dis
lance the track ia laid for 81 miles and the grading is
completed for the whole distance. The officers of
the Erie Railroad reelected to-day at meeting
of The Board of Directors.
Complain, has been made that the State OF Illinois
does not take measures for the resumption of payment
of interest on her entire debt 1t certainly is high
time that incpien taken for this object.
The present revenues Of the State are abundauy sut
fcieDt, and there is hear disposition among the
people to pay every dollar but the immediate appli-
cation Of the present taxes entirely toward the
Of interest is attended with some difficulty
The amounts nov paid in January and July on the
interest derived from tax of and half mills on
each dollars worth of property The taxable
property in Illinois is now about 5000, 900 900 70
$3.50 COO OO0 hence there should be $3.50 applied
during 1885 to Of interest which should pay
about p cent.
The 18th article of the Constitution provides for
tax of mills to be divided annually among those
holders of Internal Improvement Bonds who viii sc-
cept the same as pro rata payment on principal Of
bonds From this source there should hereafter be
derived about half million annually. Now, az the
total Of principal State debt is estimated under eleven
millions it 10 evident that if this tax could aso be APP
piled toward interest," the State could at take her
stand among nterest-payng States. Here, however,
il difficulty. The Constitution Of Illinois also pro-
vdes at no change in ts articles be made until
u law be passed at two regular sessions Of the Leg
slature, and thereafter ratified at the polls by ma
jori'y of the voters.
As the Legislature only sits once in ty years il is
impossible to effect This change prior to 1857, by
which time the rapidly increasing revenues OF the
State If applied toward the interest," would admit Of
payment of 6 y cent. v annum on the debt indie
pendenty Of this 2 mill tax, or sinking fuBd.
The revenues of the Canal and Canal lands are now
applied solely ON the registered Canal Bonds, and the
holdels are receiving annually some Is to 20 cent
Of arrears Of interest These bonds, which in 1851
cod at S. have been taken for investment lately at
100 The holders of these pretty well satisfied.
But without some change in legislation the holders
OF other bonds must still be greatly delayed in the re-
ceipt Of arrearages Of interest There will soon be
very large revenue derived by Illinois from the Cen
trail Railroad This should certainly go to pay inter-
est to bondho ders, and if 80, would materially in
crease their receipts But by law passed 18th Feb
ruary, 1853, all surplus revenues are to be applied in
the purchase of State Bonds at market rates. We
und rsand that more than 5000 900 debt has already
been extingushed in this way.
From these few facts it lie evident that it is the duty
of those in power in Illinois at to take
for the entire resumption of payments of interest
the State debt, in which doubt not they would be
ebeerfully sustained by the people.
A comparison of the footings of the weekly bank
statement of the Boston Banks, with those of the
statement for the previous week, exhibits the follow
ing results
oct2 octa .