, 1861-08-07

debt can be contracted except for war pur-
poses, The policy Of the State is to pay
her debts, as shown by the fact that within
the last ten years about seven million dol
lars Of Indebtedness have been liquidated.
This has been done without expressing our
people, as the tax for State purposesis only
7.10 mills upon the dollar. TO meet the
interest on the new loan, an additional tax
is levied--mde Sec. 8 9ofthe law authorizing
tito be made. The entire taxable proper~
II Of the State is, rated ut from one-quarter
To third ofits actual value as shown by the
Auditors report Of December 1st, 1885,.
.&Sg970s.05S. The amount Of property,
with the present rate Of taxation, shows
that the State has ample resources to meet
the small addition to be made to her pres
ent Indebtedness We're it ten times as
much the security would be equally good.
The State suffers no losses from deprecia-
ton on paper currency. All her receipts
and disbursements are made in coin.
In addition to the taxes, the State re-
ceires 1romsthe Illinois Central Railroad,
perpetually; seven per cent. Of its eatire
earnings. Tie last two se1pi-anauel pay
ments amounted to SIT, T,55722-equal to
six per cent interest on nearly $4,000, 900.
The receipts from this source will increase
rapidly with thegtQwing prosperity of the
State.
A glance at the growth of Illinois in
wealth and population, for the last ten
years, ought to convince any one that her
bonds are as safe as those Of any other
State. Her population in 1850. was 851,-
40; in 1860 it had increased to 1,7t, ,753,
showing more rapid development than
any other State. Within the last decade,
Illinois, while paying seven millions Of her
Indebtedness, rose from the eleventh to
the fourth State in the: Onion. In 1850,
We had but. IS miles: Of railway; we now
have {, $50 miles in operation. They cross
the State in all directions, and with our
|. lakes and nayigable rivers, not a farm in
the State is fifty miles from cash mar
ket for all its products.
The wealth Of q people results mainly
from their ability to produce surplus Of
products absye their own immediate wants.
The shipments of staple articles from, Chi
cago, the commercial capital Of Illinois, in
1850, 1860 and for seven months Of the
present year will afford some idea Of the
growth Of the State within the last ten
years. The facts contained in the follow
ing table are more convincing than pages
Of speculation and argument:
1a51e Of tMipments from Chicago for The Fears
Flour, bbls. ........ 1oo,s7i sS'1s6 % si3 IS Ill
Ssas S&assf sassss Ss i LIS sssss g ssss -
Our tables Of the shipments Of beet, pork
and live stock do not go back to 1850; but
the increase has been equally great. And
besides, within the last three years, i'm.
mense quantities Of live stock have gone
east by the railways crossing the State
south Of Chicago. 1t is entirely safe to say
that no other State in the Union is, both
from the sa1ubrity Of its climate and the
richness Of its soil, capable Of producing so
large a surplus Of the essentials Of human
existence. Said gentleman in our hear
ing, distinguished for the extent and the
accuracy of his observation, II have stood
upon the banks Of the Ganges and the Nile;
I have explored the richest valleys in
Asia and in Europe, and never have I seen
country Of any considerable extent but
Illinois, where the people could gather swo
| crops from one sowing; that il, where the
soil produced twice as much as the average
Of other portions Of the world" Riding
through the State in company with mum.
bcr Of distinguished gentlemen, who had
devoted their best energies to the cultiva
ton Of the soil, we inquired how much O.
the land about them they. would want te
live Oh; that i, how many roods it wou1t
take to maintain q mRn. The highest an
swer given was one acre. Multiply 64'
by $4,000, the number Of square miles il
the State, and the result shows that Iii
nois is alone able to sustain populatio1
Of 35,84O000.
But aside from oil such speculations, {
State that within the last ten years whil'
/ paying off nearly half her Indebtedness
| and building 2,755 miles Of railway ha
/ more Than doubled her population, is Ger
tainly perfectly good for asmaH additioqa
war loan, to be used in sustaining the Con
stitution and the laws Of the country. O4
citizens are among the most intelligent, in
dnstrious and enterprising, that can b
found on the face Of the earth. Th
church and the school house are the SOU
ces from which their patriotic principle
are derived. Such people, living upo
| such soil, will discharge to the last fartt
ing every debt they contract. Let th
capitalists Of the country ponder thes
facts, and if they want q perfectly reliab]
investment, take the earliest opportunit
to secure the bonds Of the State Of IiIinoi