American union. [volume] (Morgantown, Va. [W. Va.]) 1855-1859, 1857-12-25
WHOLE NO l3I.

| in , ,co,nns,;,;nn ,,;,I' :" '"e '.a'Ne'
sued a, H.. ''ee. 's-
! lied u.n,v &c, ""'t" uu,,m- Inn
would be a breach of fa;,b on ,bo 49,,
If the State, in dishonor no, s., al
short of renud;.,in,
Aud no new bonds conla i. so,a 90
cept at rate so hiyb that ,be neonIa
could no, bear ,h. iaxa,in, ,.da,st.w
to complete public WORKS and snnnnr,
public credit. This brinss us TO 80.
STATE BONDS. "
The price of them has beon de,,o
sed by many causes.
LIST. Nv vsnec,la,;,,, ;,
Those Iro,, ,La;. ''"eNS'
ter be,,sr su;,aI Il. a,psts '"a'ae-
EOurs ovxi,. % ,ha;n ;a,,;
fare s,o,5y ,aI,,a e, ,:,,I ''o '"e'e-
ausb lime. >''' 'o''' 'i
eJ
nrec;ons ,a,.ia '"" 's"""'' ''' INC
o,p
o Dy ''r -, course OF things IN the
WI ''n"eS,' IVES mere me banks were ba-
I," 'ey !d'geiy on virginia SKIES
"eP'S i"|o''ea III lhe specu'a-
''"ns III puoiic lands, the crisis has for
Yeu ,"Ti' aSSe's' ara among them these
ooI"', ''i'o Tue narNe' IN vast quantity
""" - 'u'"""s 'a'eS' ....a
an. 6y allowing onr own Joint stock
companies TO sell their securities below
par
5h. BY allowing them To borrow
money at seven and eight per cent.
while The State was limited to six per
cent. aud par value. q.
| 9Th. Ahuvs all bv ,ox;,o an, ho,1,
and permitting towns In :,
| Th. consa,,., r
,b., - Pi,h,na,'I ' nus oee"'
of couyso n,,,,s i, .' "n'on
,b,s soc.,ra. ~ "'''A' a'u
Ec.ni,oIis,s\ VIZ"
,ha ,av ."'e "'9' oeanc'"R
I.,aoJ ,c oI. " %u' 4'oo io-
Lnr5." ,l r.' Ill. III II u""er such
/ ,hav n.y., n.y. ha!a 's''' o''"S '1' ".a' "ou'd
''"o' "'''
Io,,,a y,ni "Ik'Ie' 81 '''v 'aSt 'eg'S-
b,,no,bocatoJ :, NJ 'e oo""s
,,,"a,'L eaoo non VI" lo on ao-
o,nnn,,, Ti,, C '"'" '"I'' par
.d :, ,a;,, ! nus e"'ed,o'-
,n,v e ia .a VIC P'ec'Se ms
an soau, ,' sam ,S II seems una.
bv ths Rn.,J Of naI,;" w I"nS'''ur" ~, n
f.ciI;,o,o,La;. J''I;,',i '"'"''
lima =, en,3o mo,o 0on "'e""-
ind g. La pn,i " ~''D'oO0' "efo'.
which III. eoo,,, ,,,.. r""''I' u
J,to 10 rol,S, ou' o"'
Instead of s,Iii,. "'"y J,';. ""e" S"'"'-
;na orar ~" ','"e' ne''re''"S ana pay-
,he,, f,nn, r. r,o ioI.s' ~ '"'S "sent taxing
nisaraa I,n,,, -, '"',' P,''" % "eP"sI''
iho suo,.', .r ecs,n Goo ~ ""E"hces nN, |"
nnI, n,,, ~, ~ T''0, 'oo' ms sum
Ar3 vat ,hor" r"I" "'0' :" ''' p"a O.
iiCvina ,hasa h,,,,n nJ"E "o "',uno o. 'Geh'
hnyyIs oI. n'noN' IeNc'P' me strrilng
OOOO the S,ate has from, ,ha, dar ~
tins been having ;ntorcs, on ,Lo ,,,Io,'
of these bonds This ,.n,IJ ~,
done but that the Commissioned ~ L,a
Sinking Fund cannot now distinguish
the coupons uflhesc bonds from others.
This transaction has been all along
an incumbus on the State credit; nor hus
the Governor though he h0s made sew.
eral efforts been able To remove it.
lie nov knows Of 90 other mode than
| for The Legislature TO authorize the paw
or ,he @o'U'o0O adVonc" on condition
~ "ar'"g inc hyP",hcatod bonds 70.
'o'n'o' men let the Sinking Fund
M SINK mem TO The amount OF the $780,
w. w. ana i"' me residue be cancelled.-
"'S can De doro now by exchanging
'nese D""ds Tor The same amount of re-
oeo'nao'" o"nds row held by the Lite
rary h"Dd aud Then sinking these under
eN's''"g laws. II The Sinking Fund
cannot meet tn" who 70 amount, let
'a'ean'" proportion he sunk, or sink
'ne "h"'e 0y sale OF bank stock. AT