Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1861-03-02
OHIO LEGISEA3BRE.
ADJoURNnD snsslcs.SS
I'm SENATE
FRIDAY, March L. A66l.
ADJOURNED snssfoN.< 4
FnipAY, March Ii


Al AZ
PI M, i FfsEFR sa,a tha .hs,s ha 80 .t Gin
o,nns,; he ;noniraS ;nto tha srhis., ~ ,h;. hili
and h. vac sassfied ths shs n H. of shs col
Lace ma ali tha nstsies In volved. wonld hs nro.
moteS bv the nassa,,s Of iris bill. s-I.5Iys r..
The t,ueatior reSarvipg. the bill vas pass..
al nv a nnanimoua eSte-.veas p5. navs' 'J)s ah-
aert 10 = 0i O. fsss e 81 iit I'D 'eil lo,is
6 n. o93. tn amenl tba bomeataad axamn--
t;on actf Retained To the Judioiarv commit-
taa 1f ..,,'.,-. ..-.....'....,.,...... --vor, +
r. o9i; Far Tho re,b,cai, NJ ohstruotinba
on tnrnniles ana nlank roads.. with an amend.
meot, Commute on Roade and Hiehways. Y
n. 939--To amend the tax act of. A nrll {, =
1859. Judiciary. /, IS 3aa ir Isfoi : ,lg'gl Ia
q. n oI(z-TS enable purchaaera ofo lands
In ths hscioto salt reserve ! In lac / son county.
10 nbtain deeds. Referre,l 10 the Inliciarv
Committee. SIaois i1I0ns1 - 51fi9 1s 30 IN
On motion oE Ar. STANLEY. the Senate
resolved itself into committee of the Whole on
the orders Of the day, Mr.. Cuppy in the chair,
and after some time spent therein, rose and re-.
ported back the follosing bills, some with and
some without amendment, viz. qs.T .s1 Zoo,
SlB. 949--Tol lpFoyide for The payhept of the
State debt. g1'lsis 45lfge0 : ~ rsI M. a
i Mr.. SMITH wished q exursss his opinion
that the bill ought to pass. lie thought Il was
time that the people OF Ohio were beginning to
realize that their public debts were to be paid!
There seemed TO be an opinion entertained very
generally that all state, county, city or village
Ras 10 do. when II has any scheme that REQUIRES
the expenditure Of money, Ia TO 70 into the mon
ev market ana get the necessary money, and
draw upon posterity for its payment. he vas
n iofonndly convinced that the greatest evil of
modern civilization is the system of public
funded debts The ma ations of Europe are eroan
! inc under debts long since coutraoled. England
owes an immense debt, aud there is no expecta.
sion that Il will ever be paid. Millions Of aer
children are impoverished BY the crushing tax
es necessary to pay the Interest. "a Q u s.o4l
| The Senate this morning passed bill to al
low the city Of Cleveland 70 fund q debt Of q
hundred thousand dollars. About q year ago
| We passed bill to allow the same city to bos4
row hundred and seventy-Rve thousand dol.
lars, for sewerage purposes : Another bill was
introduced this morning to ALLOW Toledo to Dor.
soms m stop % be mt to his whoIe.aie plunsing in
debt2 Arc we going to get deeper and deeper
In debt for eyer?a5 - "a ~, ~,
The Constitution provides for a sinking fund
To nav off the State debt It was. a wise pro-
vision, and this is simpiy an extension Of the
same principle. Hethought the people of Ohio
would approve slight increase oftaxes to pay
the pubifc debt. Our rublic deb, will be en-
hanoed n thia bin should pass, Il would be an
sT ;nd'cst;on % tbst Ola es,t 70 nav her Sebts n
MIGHT he That Ohio will hereafter need money
fol- her defence and ii co. the fact that the State
Ia free from such debts would enable her to Dor.
row money more readily. The history of fund
cd debta. bofh In Europe and America, proves
that II is much easier to contract than to de-
crease such debts. He believed that heavy tax
es are greatly TO be deplored, bat the best way
TO get along without. heavy taxation is to keep
out of debt, aud be thought that il would be a
frst rate example Fur the State TO brpin TO pay
her debts a little more rapidly. IL would tend
to lessen local taxation.
He, In conclusion, eatnes,l, hoped the bill
would pass. 1t would only increase the taxa
tiou about ope-third of mill on the dollar.
And every cent Of itwsuld be used to pay the
hooest debts Of the State, and would uphold the
State credit, which the State may hereafter ind
very useful;
Mr.. HARRISON held that the Consultation
prescribes (Art. 5!h) the mode In which the
| State debt shall be discharged Toe quest Ion
is not whether the credit Of the State Is good o.
bad. Aman may offer this bill, and yet be II
favor Of sustaining public credit. The question
is whether we ehail depart from the constltu
tional mode Of dlscnarglng our Indebtedness, ol
adhere to It, The people now complain OF the
enormous burthens OF taxation; There u .
gloomy hnancsi ia.rfe DeOle ,ba anem ana ,sis ss
I s,,cs ~ iSs constitution directs the manner n
which the debt shall be paid, 60 that it shall
not bear heavily upon the people. and he, Mr.
H was not willing TO depart from that mode.
The money which the people would be required
to pay under this bill Is worth more to them
than the interest they would hsve TO pay on the