Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1859-03-04
Missouri State Debt.

When the project of State aid to railroads
was before the people of Iowa, the advocates
Of the measure were wont to refer to Missouri
as an example Of it's benefits. But, if we are
to believe the st. Louis News, that State is
not going to make very fine thing, after all,
out of the Investment. The total amount Of
State debt il, aid of railroads, authorized to be
constructed in Missouri, is thirty millions Of
dollars. This debt runs thirty years, at an
interest amounting to near two millions Of
dollars per annum; so that the people will
have to pay between fifty and sixty millions
interest in that period, and still leave the
original debt of thirty millions untouched.
ut the present time, however, and probably
for tncc or four years to come, this interest
may be paid by the issue of State bonds,
before the amount issued will reach the full
sum Of thirty millions, to which the State
debt has been limited The railroads will not
he able to pay any part of this interest worth
mentioning, and the consequence must be
that within brief period the State will be
compelled to raise u tax off the people Of
Missouri for railroad purposes, amounting to
nearly two millions per annum. This the
Neusrcgards as a startling prospect, and says:
''Dircct taxation or population is the alter
native and it is only Il few years ahead.
There is not skill nor genius in the State to
Stave off the inevitable decree. We are on
a. hat cINnr
profound civil commotion -revolution-per-
haps ruin-to the credit, the good name, and
the heretofore peaceful prosperity Of the
State"
After quoting from speech of Mr.. Fagg in
the Legislature, tending to similar conclusions,
the Ne,cs concludes as follows:
"We are plunging headlong and hopclessly,
each year, deeper in debt. The resource Of
selling State bonds is nearly exhausted by the
$4,000, 900 limitation. And naught remains
but to grapple with the memorable truth that
a DIRECT TAX is INEVITABLE-a
direct tax for thirty weary years duration,
perhaps, in which time sirty millions Of dol
krs interest, exchange, commission, (and
stealings of corrupt officials who gather it,)
must be paid and still leave the original debt
unimpaired, and mountain-lke, pressing out
the hopes and energies of the people
--<e<--
CLARK. FROM THE MBs."-Hughes, the
Indiana Congressman, who distinguished
himself by his ardent support of the Lecomp-
ton bill, and who was badly beaten for the
next Congress, in consequence, pronounced
the following first-rate funeral grafton over
his own death, on the floor of the House, the
other day
81, perhaps, am as little biased by interest,
as little trammeled by popular feeling, as any
man in this body. am in position to be
impartial and independent My race is run.
The grass grows green over my political grave,
and | speak as a voice from the spirit-land.
stood side by side with these gentlemen
through the scenes of long and turbulent
session, in defence of the principles and
integrity of the Democratic party. Having
fallen at my post, in the discharge of my
duty, am content"
He should have added the following, (Which
we copy from tombstone in our memory,)
as warning to the few remaining Northern
Doughfaces in Congress:
Remember me as you pass by;
As you now so once was L;
As am now so you shall be-
Prepare for death and follow me"