Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1859-01-12


strict economy this sum may be reduced
during the current year, at least ono mil,
lion of dollars
The present would seem TO be the an
proprlute ume-whcn our nation is ai
peace-aud when health and reasonable
prosperity prevail within our own bor-
derS-to greatly reduce the public debt.
We have but to carefully husband our lc-
glumate resources, avoiding eXtrayagant
and unnece' sary appropriations, and prac.
tlclng a proper economy in all the DEPART
ments OF Governments, to render the en-
tire cNtinguishment of our debt n fixed
fact within very brief period. To care.
fully guard the public treasury at this in.
teresting epoch in our financial history. is
so maniicctly the duty of the public au-
thorHCS, that caunot for one moment
believe that any other policy will be pro-
posed. II there be any, who, relying on
the improved condition Of the finance. of
the State, would encourage the adoptiou
Of new schemes for depicting the Trcasu-
ry, o.. would cut off the sources of our rro-
sent revenue, and thus reduce it, let all
such efforts, coming from whatever quar-,
ter they may, bc stcruly resisted. Let
Pennsylvania be just before She is gencr-
uUN' ie. our Eooo example be light IN
the pathway Of our sister States. as well MS
an admOnitiOn to our own local govern
ments. This is due aliketo the favors
which Providence has so bountifully be-
slowed upon us, and to that high charac-
ter for honesty and integrity which has
ever distinguished the pcoploor this good
old Commonwealth
III I"'' u"hc' OF th' act cIenlltled"An Act
'"T t"' S@le 9I the state canals approved
on 'Ie -Ist aaJ OF April last, did. as the
U"i I",I 'Inor o. Ihe commonwealth, on the
I''I' ' Gay OF May 1906 convey to the sun
"uiN an" E'Ie h,iIroa" company, all the
puolG works belonging to the Common o
"'I,'"I 'l'" remaining uhsoId' consisting
~ 'ii' i''""a 'l DIT!'Ioh-ihe upper and
T."'' NT.'n bFahch ,'NiNions-the West
n.'.'c" D,'iS'"n anu the Nusquehanna
Di''Ilon - oI 'he I'nhSyIVanla Canal, with
an 'he properly lhereunto belonging or
III allN"iSe appertalning, and all the es-
'a'e' iISnL uiIe ana interest OF this Com
h'0E"eaIttl tn 'AGrelll' 1"r the sum OF three
III nlIlIIohs HIe huhdfeo thousand dollars.
secure me payment OF tins sum, the
louhourH ana Ele hallroad Company paid
10 the state treasurer It's BOND secured
pN mortgage as uirec.ed 10y the act, for
l e amount ol the purchase money. The
oihp"liy also computed with the provi-
SONS oi the Act when requlredit, as addi-
t,ohai security to execute and deliver to
Ihe STATE treasurer mortgage on the
delaware DIVISION Tor one mlIIlon-a
mortgage on the SuSquehanna and West
DIi'licH DIVISIONS iof nan miIIlon-and
a mortgage on the Upper and Lower
NorIh brahch DIVISIONS Tor halt million
OF uoiiars' ne ueeus ana mortgages
were an eAecuted uhder the immediate
suPeTl I7Ioh OF lhe Attorney GENERAL, ana
were IN slrlcI conformity with the require.
mehlS oi the law.
After the conveyances We're duly eXecu-
tea ana dellvered' possession OF the canals
was gwen to the railroad company.
Inc act lnrt4er provided that the sun
bury and Erie Rail Rold Company should
not resell the canals or any part of them,
Wltho the consent OF the Governor; ald
Ihat IL resale were made Tor greater
sum IN the aggregate, than three and q
haIt million OF dollars, seventy five per-
cent, OF the excess should be paid to the
Commonwealth in .he bonds of the pur~
.chaSers. 1t was also provided that upon
a resale. the mortgages given 10y the Sun
bury ana Eric Railroad Company to the
Commonwoalth, upon the Canals, should
be cancelled 10y the State Treasurer and
surrendered to the company Icy the Gov
ernor. on ,aepoo.Ite made 10y the SAID com
pany IN the once OF the state Treasurer,