The Belmont chronicle, and farmers, mechanics and manufacturers advocate. [volume] (St. Clairsville, Ohio) 1848-1855, 1854-01-13
his time, We may plead the force Of circum.

this time, We may plead the force Of circum.
tunces.
We are young and rapidly growing peo-
pie; we have every thing to create, all our
public buildings to erect, and large and oner-
Gus debts to discharge. 1t is, nevertheless,
true, that our financial system is without
those sslutsry checks which experience has
shown to be necessary in all public trsnssc-
tions; nor will It be denied, Iopprehend, that
greater degree Of economy may be attain
ed The recommendations already made,
will, IL adopted, do much to secure this end.
Our taxes are now levied upon q uniform
and equitable basis;--they should be expend-
ed under the strictest accountability. Satisfy
the people that the funds drawn from them,
arr property aud -tunvn'csiiy appiied, and
the taxes now complained OF, will be cheer
fully borne.
The very large amount which has been
drawn from the people Of this State during
the past year, for the support Of the various
governments under which they live, will
certainly excuse the carnestDess with which
have pressed the subject Of our expendi-
lures upon your consideration.
Estimating the revenues OF the General
Government at $58, 900 900, it will produce
tor each member Vi Congress about $3.50, 900.
There are twenty one mem ers from this
State, making about S5.oCO,0n0
State, County, Township and City taxes. 1,s0I LEG
Fees of County officers tstimsted at $4,000
specia. taxes. as Auction Duties. &c 100000
Fees OF Justices OF the eace, Consiab!es, &c 3C0iOO
Making a to,alof sl4,IOl,lGs
rh,- is hnrtap aoVal a.,
half the value OF the whole State fifty years
ago, and requires a tax Of S25 on every voter
aud Of nearly six dollars on every individual
in the State When burdens become SO
onerous, it is proper that every outlay should
be examined with the strictest scrutiny.
My predecessors have had frequent occss-
ion to'remark upon the safety and dispatch
with which the taxes are levied, collected g.
dlsbursed, by the County and State officers.
Defalcutions have been Of rare occurrence.
Our treasury system has, therefore. served as
d model Tor other States, AID in many respects
for the General Government.
A practice is said to have grown up in
many of the large towns, however, OF bank
ers and brokers paving interest on deposits
The State surely has no objection TO this
when confined to the transactions OF private
individuals. But it is also charged that these
Establishments sometimes become the de-
postores OF public officers, and that large
sums are thus realized by specializing upon
the money OF the people. These representa-
tons MAJ have their origin in mere suspicion
but they have called forth feeling OF dis
satisfaction anJ alarm, that can only be
ullayed by the adoption of such measures as
will prevrn' thu o-s. bi.ty of so dangerous 4
practice The or sent statutes are defective
IN this particular, and require revision. The
public IN Iney should be guarded with the
utmost care, and all application of it, except
TO the purposes for which it " as raised, should
be strictly prohibited by law.
An objection has sometimes been made to
this policy, that it locks up the treasure OF
the people. This objection, when examined
will be found TO be without any real founda-
tion. In this State, as already observed, the
revenues are chiefly raised from direct tax.
alton, for certain well known purposes, and
payable at periods entirely within the con.
troll of the Legislature. AT no period is il
necessary to keep any considerable amount
ON hand, while our treasusies might most o.
the time, conveniently, be empty. Under
these circumstances, there surely can be nc
difficulty IN s, modifying the laws that al
danger Of defalcation or improper use of the
public funds will be avoided, and the money
of the people, at the same time, be left il
their own pockets, until required 70. the Pnb
lie service.
You will perceive the necessity of these
remarks, intimately connected as they are
with the public debt and its Il nal payment.
! The entire debt of the State outstanding
Nov. 18th, 1853, was as follows:
FoREIGS.
Five per cent stock payable Jan. lss $4,000 y
Eve her cent stock pay able Jan ISL 1866 lU25I0O
Total Eve per cent. stock I.l7500o Q.
sx per cent stock yahe Jan lst 1857 e3e9e l33 2
sIA per cent stock pay ahs Jan lsl, leOl G0oOs D
SiI per cent stock payable IAN lst, is,l 2isao3i "
si1 per cent sock payable JAM LIST, 1876 lGooooO "
Total six per cent stock 1|<sNoo u
\ Tots, ii9ii.OG0 :,
Ohio canal stuck fsi h and credit bonds loan 60, -
M,smi extension loan bonds, loan OF ls42 9s6
Canal, school aud ministerial ho"d' loan OF ,oo n
| ie.6 r. ..... ..'. lW v
National road STOCK
Total over due s.,4I3 :
Man, sonas ss,e sissr ices sssa 500
Man, ian. extension ''"a ''"''' 74.Iss 0
4 ,|'.... 29s 6rs .
ro,,, .... - sOli2s :
Amount Of irreduebIe debt, arising from