Dayton daily empire. [volume] (Dayton [Ohio]) 1850-1865, 1860-12-03

V,NKWu. "a AZ T.r.ro,arv Loan
N M.lt .'a-i - eIf iSI ato is .
~ ".nt so'.' y, Ys,ti,,e' 49, ~ Z
~ lmD.ns may psvoPcliy W uouuoos . Y
h0.i fifeaoy ooileoteo ior part pay"en'
ne Temporary Loan. o
81 viii be seen that In sixteen years the o
U1iit Debt han been reduced only by lho4,
M,. IA - aN4 eqn Tha anna rooeived 4, 7,
- 1,,,s f,o,,, srrrins Ra-en,,. sa1es /
~. ,'vn R,s, 'Ss.l'' 49,
Ahnosi from the Nupho works, anu
4qW miscellaneous sources other than taxes,
Uero &6,067. .ofI The greater part, Of /
,..s,.3 ~ r.dnc.inn ~ ,nrirc;ris
r,--f - ~ ~ ~ =. r, t2.s.ss - 4. "a, .lt..,
- y. w a,iasn
- ~ y, ~ W. \
~ ~ uso,' an hcs VI tns. hase eeneiat ~ II
ss1oy ~ Iussnueu 70 seoo.e .na' Iesunr .
nn5nonNes, whenever any portion OF the deot
shall become payable, the issuing OF new ponds \
70 an amount sufficient TO discharge IL. Those a
new bonds are 70 be made payable IN such n
instalimenis that the annu,l levy reqdired by \
the Ooneiitntion will supplv the means f0t
ahefrs oarlnont in full AT riataritv. and the act
Yeoaffra their pavufent Accordingly without re- I
ro,rsl a,d t3ithonk delav
This plan, n pefsistently adhered to will !
certainly ertiuRuish the whole Reducible Debit f
bnt the operation will require thirty. one years,
and many circumstances may occur TO suspend
or frustrate its result My own impression iel
that tbs wishes Of Che people will be better COB
suited by provision ior their earlier payment
snd consequent iehei rom taHa.ion iot inlerese
onoelo your op'nion oe ,wiSe, ~. M'l' eo
"Ss,.;g ~ 1.v'.0, ,i,hsn Inc
,;n,s i;n;.sd hv he a.,
on ,hs ist of January. 1881. II Il 10 tho pleas
surs Of tho STATE, eAis S25 81 dolls, Of the debt
nsy bspaid. The contract Of loan, boweysr,does
not impose tee oellgenen o. psymena,u en-, =. .Nss
time xas sss.s Jusy =, sne % in,.rS.t
sra1.oS sT%Sd y i5r 11i sSs dsoSafss Of the principal
- hs raouired bv the interests and wiahos Of ~
people.
Whether be thought exPedent or notto adopt
the scheme ofPayment proposed By the aetoi last
year. some ohange rlh Ptopegy % % iouhu nSyes Scs
80 IN .ne a III . !, q &C.
-. - ct ,onis;pad ,,,n,'i.ons
v.:,,,,.. NJ f-.r IA ation The hands 70 be issu ID
vndsr M ana ajso 4 iudicious dscrimnntion In IA
90 AZ -takars ,,ithin the state II was amend
IA In tha Honsa Nv atrlkin0 ont tho nrovision for
aT.mption. and In that shane became law The
siIseriminstion IN favor Of domestic bondhoIdors
vaa thus converted into a discrimination against
thsm. for. under the law as Il now stands,tiaxa-
tiop Of bonds will not reach foreign holders.
suggest the expedienoy therefore, of
antboFizi0a the Commissioners OF the Sink,
,... Ernd II tkev abalI ha of oninion that
.Sees;a.asr.,. nr ;ba sta,e roor;re tbe nav
ehe .n's,Ssss ~ ~. y, ,,.s a. da.,'.,
ment o. tne ueo. uPoh .ne a1c.ual Ut |ie e
h.,Ts " =, srv rate of interast not excss.
! 10" .cuei -'y s.LstI4 -, ~
alng nve per cshe, relsspursaoie ~ p'easuro .
shel = serm "os 'ASe1s e5 VI ~
posus .ssuou .,.S". - W., ewcoodio ~ ror
nu pe1lnS o NV .So Son5s shoppid pdi
ns. .l an ei.ue. Sae0, I .;iot. .""aa'
~ - ohsS"otor as s,b;oot- or no,
.no.I W.. W. s.:a. Saa ~ ~,
go0' IS ~ -" ho,Ss ,ha S,ota oro 70 \,
49, =. AZ sasers is Ear more reason, q,
.A - 49, S.....,;a Lai3Ss S SI ths ioreigt
~ .aSaS - ~ botL RI .h,,iS ~. enSuu !.
~. ao"a ssaOu,u 20 s'Ae
Tsssrr;ng from e,,is Sse'' Oss ~
eouaI 10 the average III " ~, :, 1os
on other propertv of e,,s,I vaiah p'''
II il be obiec cd to this mode of taxatior
that II takeA.bac with one hand the interes
paid Withita4other' and is therefore equvalep
mere refusal 70 pay the i"il rate stipulat1
s.Si;os ;n.t 40 sorO;h1, 'nsS sne same oelef
iaT onSs viven foT nonsv .' ",
\It1s very serious, and aa h.y .fefi,. \
iRsuperable objection, unlesl t6e asfgLt of tax
<.ion DO reserved ON the fagslfe Ne bonds whe
issued. whether bonds bearing such reseryi
nons wiii nnd takers can only be dssesptsgt
hahi.. .nd u ,ley ,hy VIII no'' Is nose e. tns aa
thst the tasatlop Of State hands 10 MY snnc
itic and upiust.
raco,nn,ard .ho-oeo.o s,,oh ,o.,.,.. A.,
as viii piye II,c surs,,st,',l - ~
Commissioners. fix bevond liah;Iitv 70 o,sa
alton the rate ofinterest. and see,re tbs 90,
troll, reduction and final navment of II
debt, at the earliest time and in the mo-
ecomicai mode.
The two great lines of canal includino n
Wabash and Erie, with their feeders. co
S12,11O, 100; the other canals. with the Mn
kingum Improvement, and the Western r.
serve and Maumee Road. cost S3. .467 1
and the amount subscribed to turnpike ar
railroad Companies, was SO .226 600. makir
an aggregate cost of S18 ,SO3,922.
For a number of wears, the net revenu,
derived from these works though never suf
~ cient to pay the cost of the investment. we
very considerable. The competition of raj
roads, however, soon deprived them of
great part Of the business on which relan,
had been placed for increase, and at length
marked decline took place. Within the la
few years the outlay for repairs and in
provements has exceeded the income. III
real deficiency last year, after deductinp Ii
extraordinary disbursements directed by d
Legislature, was not large; but there IS Ii
tis room for hope that it will be less herea
ter, while there is much ground for appreheI
sion that it will be greater. 1t will certa
" be greater, unless the introduction
steam navigation or other Circumstance