The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-02-22
iasion. Det, paiaatios, as4 Tass. ef Psnn,ysaaia.

In 1874 were laid but in ls45 more regular
system adopted and valuations have since been made
ennal The here given only that real and personal
estate The debt has remained nearly stationary for more
than years. during which time the assessed value of the
property has risen hundred and eleven Millions nearly
three times the value Of the debt In the ratio OF this in
ereasng wealth and number Of the people the burden of the
debt has diminished while the taxes have yielded better The
public works. which the basis this debt long
since been felt to be burden and several times
has the sale private individuals been in vain attempted
They offered for 900 in State bonds and
recently they offered a higher rate. They
doubt in degree added the prosperity
the operation of the railroads constructed by private capital
has been effective in that Since the State
United States Bank and its Rnes wealth
has doubled That institution from which the State expected
actually cost it
ooo for which it is paying interest 1t sup
posed at the time the charter granted that banking priv
eges embraced magic BY which untold wealth
could be realized by their exercises hence the State
from the institution immense bonus which, if bank
paid, be wrung from the public another shape At
shat moment the bank itself needy and when
it undertook to loan the State ST. because it
intended to sell the stock in London for gold and pay the
State il paper dollars This exchange paper fatal to
the state whose prosperity has however, steadily been
veoped BY the industry of its citizens aud the levied
upon the proceeds of that industry have restored the credit
of the State.
This connection between bank and State has been
in nearly all the States but similar connection has been de-
veloped Of them with railroads. bonds of which
have been endorsed by the States The system faught
with dangers those which bese the early
ion Of with her works 1t the great
of the contractors that supported the charter Of the Uni
ted States Bank and the interest is growing
formidable shape under the patronage of State
That system which formerly created banks and the
largest schemes Of public works with reference the
ua local necessities OF the orks but only accordance
with the political influence which might procure money
for expenditure, again increasing in magnitude and already
the financial world begins to discriminate against works.
for the that the Of State money generally peu
dicial to the conduct of roads
The mark ct presents continued Improvement and
gradual fall in the rate of money with
6dence When the Erie income, paid off February
capitalist received $40 000 which laid upon depose the
Mechanics Bank until Saturday looking for good
men when il was loaned to broker per the
best that could be done. This small transaction illus
ate the rapid progress Of the market towards repetion
must be borne in mind however that portion Of this cheap
Of money due to the tagnation business which de-
mands but little. There is however, growing feeling tina,
the pinch has passed that the bottom has been reached
therefore that il is the time to buy The first sign restored
activity win be demand for money The bank account to-
day gives unexpected specie strength 1t
faiio