Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1858-01-08

do products of manufactures. 21,0o0O0t
Total exports $40 400, ,oO
The total products shown .26l Sol, ,50
Leaving for home consumption .siOl ,4G7 6o
These condensed statements exhibit
clearly, the immense actual resources o.
the State, and inspire just confidence in
her future progress.
1t will be seen that manufacturers and
mines contribute in increasing proportions
to the aggregate to the annual productions
The coal fields of Ohio arc nearly equal TO
the entire coal fields of Great Britain, and
fully equal to those of all Southern Europe.
This fact, in connection with the immense
beds of iron ore so widely diffuscd in the
State, demonstrates the vast capacity of
Ohio for mineral production and for manu-
facturers. Still Ohio is emplatically an ag-
ricultural State. The products of her farms,
during the last year, very largely exceeded
in value the entire cotton crop of the Uni
ted States. An interest so important can
not be too earnestly commended to leglsla-
tive regard.
The State Board of Agriculture has per
formed n service of great value in stimula
ting and promoting agricultural improve.
ment and lis annual reports add largely tc
our stores of agricultural knowledge. But
this Board cannot do all that should be done
or must be done if wo are to retain our pres
ent agricultural position. l respectfully sug-
gest to your consideration, the expediency
Of establishing an Agricultural Institution
for the instruction of the rising generation
in those branches of knowledge which per
tain especially to the theory and practice o
farming. 1t is thought By persons qualified
to Judge, that such an institution could b,
so organized and administered that it woult
almost, if not altogether, sustain ITSELF
No one can doubt that any cost of which i
could be the occasion, would be repaid t,
the State a thousand fold in benefits.
While on the side of industrial develop
ment, there is so much to excite gratifca
ton and inspire hope, there is another elias
of facts essential to a correct estimate of ou
condition, which must not be overlooked.
The Commissioner Of Statistics has inst
tutcd extensive inquiries, with a view to as
certain, as accurately as possible, the debt
duo from the State, from corporations, an
from individuals. 1t is obvious that, excel
as to debts of record, it was impossible I
obtain precise results; but it is believed tha
, the following statement is at least an Al
proXimation to tho truth:
Debts of the State Foreign and Domestic SIG 4G2 o!
Corporate dobts Of Towns, Counties, and Aune-
ipaites, are about 15O00'G q
Debts OF Railroad Companies 5OOOO,Ol
Debts secured by Recorded Mortgages - 5OOO0,O OF
Debts to Banks and Bankers --------..-- 2j coo 0C
Debts of Merchants due outside the State 100000
otherindidi,tdunl debts 40OOO,O'
Aggregate de,ts of all descriptions sen ,4o2, o.
. Debt is not always an evil. Loans wis
| ly invested by tho borrower in agencies
I production, such as lands, mines and impl
= rnents, or Of movement, such as canals, raj
: roads or steamboats,, often afford essenti
: aid in the development of resources, al
even create the means Of their own liqui
+ alton. A few of these debts are of tn
t character. And in many cases the san
: debt appears more than once in differo
; forms. Far the greater part, for instanC
0 of the individual debts, arc due to ret;
merchants, who, in turn, owe the san
money TO banks and wholesale dealers
y But with every allowance for these consi
i erations. this mass of indebtedness renal
6 subject Of by no means agreeable contel
g plation. For its reduction or extinction
n must rely on augmented production and
& creased economy. That these may be sa
II y relied upon no one can doubt, who und
& stands tho character Of our people, and
y fleets upon the fact that this indebtedne
d large as it is, hardly amounts to one-ffth
ss the aggregate property in tho State, and {
or ceeds only by third, the aggregate produ
II of a single year.
rs have already adverted TO the fnanc
revulsion, which has, during the last
no months, SO seriously affected the varied
IL terests OF our community.
x Twice before during the present centu
at have similar revulsons occurred; and bt
on were accompanied by the same train of
a. lamities and disasters. The interval fr
NJ one of these revulsions 10 another, has tw
been marked by space oftwenty years. I
Nv causes of each, though very different
'r- form, may be reduced to the same gene
expression, namely; the reckless contract
of debts beyond means Of payment.
spirit Of speculation; eager desires for g
oCc oSS and sudden gains; tho spirit Of oplenta'
200 go and luxury, seek qualifications through d.
AS there Is no limit to tho passions of
n heart, SO there is no limit to debts contr