The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1856-01-17

ed BY the premiums which can Be obtained
! fer The stecks Of state 0ccuPying tht
/ proud financial condition Of Ohio, II the loan
should have 4 long time 70 run. | know
that at least fifteen per eentum could 0e
commended for twenty year loan ana that
this would amount on a renewal OF Two MIL
lions, to three hundred thousand dollars.-
| But we must not shut our eyes to the fact
that the credit OF Ohio Is strong because Of
her persistence in the determination to re-
lieye herself OF all Indebtedness policy
which is now secured by the sacredness OF
\ constitutional obligation-nor to the fact
that premiums upon renewals depend upon
the condition Of the money market, which
1 is controlled more by the state Of Europe
than by the condition Of affairs in Ohio
Besides, the opinion that a postponement OF
the the further payment tf the public liubili-
ties, would, to that extent. diminish the taxes,
4 is proved to be erroneous as well by expert
j ence as a correct appreciation Of the very
plainest principles OF political economy
The usual effect is the application OF an Q,
quail or still greater amount to other and
less useful objects.
But this matter is placed in SO clear and
satisfactory light, by the simplest COM
putations, that further argument OF illustra-
ton is unnecessary.
Assuming partial renewal for the loan OF
The state for a loan Of twenty years receives
premium Of afteen per cent.,o SoO'VVu
i Recent, o,,h. Treasury, % sOO,6OC
/ But at the end OF twenty years this debt
is to be paid, and the disbursements have
been as follows:
Principle, Seo0o. goa
interest for twenty years, 2,400, ,0OC
!. Paid out, S4,4L0,00s
Deduct amount received 2'SOe,Oo'
Loss to the Stato S2.l0s,OOt
), And this result is accomplished without
any computation upon interest, which must
T be paid semi-annually must be collect
ed year in advance Of its disbursement
and charged with per centages to the Treas
, urer's collecting it., and the expense cf iii
7 transmission to New York. Such losse:
NAV be submitted to by State which can
d not pay its debts. but the people OF OhiC
{ would cheeriully submit to an additiona
e tax OF three-fourths Of mill with thu
}, knowledge that after January, 1857, ever
s that rate of taxation would steadily an,
il largely diminish.
e Such a system IL adapted to special no
d to general interests, and can only com
e mand itself to the approval OF those VIII
e think that "a public debt is public bles
e sing" Public faith should be kept to tn
: people as we'll as to the creditor. Many o
0 our counties and cities with other corpora
e tons, are deeply involved. The presen
: high credit of the State which has its ori
gin, in, and now depends upon the publ
l. debt, is to them Of great value. A propo
y sition to postpone the payment would ten
j. to diminish the public confidence in tn
If hitherto untarnishcd reputation of the State
y and thereby produce an injurious effeG
l. upon our private as we'll as our public cree
l. it. There can be no more desirable obieC
e than to see State Iree from all foreig
C. liabilities.
The organization Of the Executive branc
ut of our State Government into seperate an
at distinct departments, independent of eac
~ other, has certainly many advantages whir
it is unnecessary to enumerate. 1t is b,
a. lieved, however, that it would be improve
Ig and rendered far more efficient, if grea
er degree of unity could be impaired to I'll
z deliberations and actions of these sever
divisions. This could easily be effected b
repairing the various Executive officers
meet together once month, or oftener
desired by the Governor, in Executive Coui
Gil, to receive and consider reports fro
their respective departments, aid each ot
er with advice and decide such action
will best tend to protect the public inte
ests 10 cases of delinquency or suspectt
malfeusance.
This Council might be authorized to il
quire into and personally inspect the cond
tion of the Treasury at reasonable period
and to exercise such discretionary power
in relation to the departments generally,
it would be unwise and probably unsafe |
entrust to a single Executive officer. TT
union of several Executive officers int
boards of this kind is not without prec,
:. dent in this State. The Board of Fun
Commissioners, composed of the Auditor
Secretary of State and Attorney Genera
has no, only tested the practcablity, bu
the advantages of such arrangements. Th
people of those States which have adopte
Executive Councils in the construction G
their Governments regard them, am tol
as most important safeguards in the admin
istration of their Executive affairs.
; The printing and distribution of publ
documents designed to be laid before tn
Legislator is an object Of great interest t
the people. The practice hitherto pursue
! is neither favorable to proper dispatch q
the public business nor a wide circulatio
! of tho information they contain. They hav
usually been printed late in the session an
their distribution confined to few persons
mostly the friends Of the members
would respectfully suggest the passag
of law authorizing the Governor to hay
: printed, by the recognized public printer,
n specified number Of the reports made to hir
!. by the several departments of the Stat
: Government in time to have the same read
II for distribution at the meeting Of the Gcnel
n al Assembly. The law should. like tha
e providing for the distribution of the law
J. and journals, specify certain officers and il
10 sttutions TO whom copies of those docl
" ments should be officially transmitted, a
Il soon as delivered to the Legislature, lea,
j. ing reasonable number to be distribute
Is by the members themselves among the
e constituents.
4 Such a law, instead of increasing, woul
IS certainly diminish the expresses now ia
v CURED, as the matter would be printed bl
:. once, and the contractors have ample tim
/. to make the required arrangements. Tb
|. information designed to be communicate
r wond then reach the people much Garlic
If and enable them to make such suggestion
} to their representatives as they might thin
.- proper.
e The initiatory measures which have bee
:. adoDted by the Secretarv of State tn uathe