American Lancaster gazette. [volume] (Lancaster, Ohio) 1855-1860, 1856-01-17
Total amount Of Stock held by
State in Turnpikss, Canuls j. Rail.

Total amount OF Stock held by
Stato IN Iurnplkes, Canuls u Rail.
roads 81, $50 1876 a
The policy Of uniting or entering INTO par-
neTship with individuals or Companies for the
construction and carrying on Of enterprises
hke these, has long since baen abanduned.-
These socks should therefore be sold al what.
ever prices they viii coui1 ma nd, and The pro.
ceedS he applied to the payment Ui State debt.
Thclr cash value is estimated 0t frJm eight
hundred thousand to a million dol ais.
II The policy Of a renew of a portion oflhe
loan due January, 1871, be adopted by The Gen.
eral Assembly, II W II then be worthy OF the
mVst serious consideration whether the rene W
al shall be Tor a single period, or SO arranged
win reference 10 HE maturity Of other debts
OF The State as TO have Tor each year a sum
falling due 10 be absorbed by The operations
OF he Sinking Fund.
| an we'll aware OF the temptation afforded
by the premiums which can be ub,alned Tor Me
stocks q! a State occupying tue proud imam
c.al condition VI Ohio, II lhe loan should have
a long time TO run. know that at leas; If.
teen per centum could be commanded for a
twenty years loan, and that this would
amount, on a renewal OF two millions, to Three
bundled thousand dollars. But we must not
shut our eyes 10 the fact that the credit Of
OHIO is strong because OF her persistence in
the determination TO relieve herself Of oil in,
dtbledness-a policy which Is now secured by
The sacredneSso OF constitutional obligation
nor 10 the fact that premiums upon renewals
depend upO The c0nd lllOn VI the monty mar
ket, which is controlled more by HE stale Of
Europe, than by the condition OF affairs ~
Ohio. Besides, the opinion that o pOSlp me-
mcnt Of The further pay ment Of The pubic liza.
bllities, would, 10 that extent, dlmInlsh the
taxes, Is proved 10 be trOnt Gus as we'll by tx.
NOM "A "A anTW.st annN.nAut... ~ H.. ..,,
plainest principles Of political economy. The
useal effect Islhe application Of an equal or
snll greater amount 10 other and less useful Ub
jects.
But this matter is placed in so clear aud sat
iSidcloTy q light by the simplest computations,
that further aIkUmenL or Illustration rs unnec.
essary.
Assuming a partial renewal Of the loan
OF January, 1887, fJr ....,...,...,. 80, coo, GOO
lie state Tor n loan OF twenty years
receives q premium Oi fltt Gn per cent.
or 100000
Receipts at the Treasury. ....... 81, 800, 900
Put at the end Of twenty years this debt is
10 be paid, and the disbursements have been
as follows;
Principal. az, 000, 900
ln'tresl Tor twenty years""......... 2,l00,tCO
Paid OUT. t.'.,..., , .,.,.,.., . "a 400 eco
Deduct amount received "........, :, aO,UUO
L0ss TO the State. -. .,.....,.,....S 81 1900 eco
And tins result Is accomplished without anv
computation upon interest, " hicl must lie paid
semi aunually,-mus. be collected q yearln nd.
vance OF It's disbursement, md charged with
percentages to The 1feasurer's collecting it,
nnd The expense VI ITS transmission to Ne n
York. Suen losses may be submitted to by Il
ktate which cannnl nav ,ta J..ltv I,,t IT,. ,.N
pie OF ONO would che erfully submit to an ad
dItional tax Of thee iounhs OF a mil with the
knowledge that alter January, 1857, even that
rate Of taxation would steadily and largely di.
minishs
Su' h q system Is adapted to special not 10
general interests, and can only cOmmend Itself
10 The approval Of those who think / at "a pub
lie debt IS a public blessing Public faith
should be Kept 10 The people as well aS 10 the
credlloT. Many OF our counties md cities with
other ID corporations, are deeply involved. The
present high credit OF the state winch has its
origin in, and now depends upon, The pune.
taal payment Of the public debt, is 10 them of
great value. A proposition 10 postpone the
payment would tend TO diminish tie public
confidence in The hitherto untarnished repu:a.
ton Of the State, and thereby produce an in.
furious effect upon our private us well as our
public credit. There can be no more desirable
object than to see a State free from I'll foreign
liabilities.
The organization Of the Executive branch Of
our state Government INTO separate aud dis
tinct departments, independent Of each other,
has cert9inly many advantages which il is un.
necessary to eTumeraie. II is believed, how.
eyeI That il woHld he improved and rendered
far more e0iciest, IL a greater degree Of unity
eofla De impaired TO the deliberations and &C
tiene Of ihrSe sssefai divisions. This could
isily be eitected by requiring The various TX.
,;utise officers 70 meet together once q month,
oitener u desired By the Governor, IN Exec.
ave Connnib 70 receive end consider reports
pm Shetr fsapsstttS eepprtmsnis, aid each