Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1862-04-11

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abroad; but its ultimate and certain extn
guishmeut has been provided for by ways and
means that will involve no necessity of much
taxation. The condition of our public iab
itles at the present time may be easily and sat
lsiactoriiy stated. FIRST, we have loaned the
scrip ct the state to certain railroad corpora.
tons to the amount OF S25 600 dollars but
for the whole Of this amount the state holds
securities, and these companies may be relied
upon to pay the debt. From this estimate the
Troy and Greenfield Railroad is not excepted,
because, the state having given lis confidence
To the enterprise, | feel bougd TO believe that
tins confidence has not been misplaced. Sec
ond, we have issued upon the account of the
Union Loan Fund of 1861, 2,2l7 800 dollars,
which may be under the law carried up to
$500 900 dollars but this for the most part
will be reimbursed to us ty the general GOV.
eminent, portion having already been re-
funded. Third, We have outstanding scrip
| issued from time 10 time upon Sundry accounts
OF state charities and Tor other purposes
amounting 10 $50 600 dollars and for these
loans we have provided various extinguish-
ment funds which will probably in the aggre-
gate be nearly or quite sufficient to redeem
the debts at their maturity. Under this triad
classification, them find our public debt may
be stated; and l find it also apparently pro.
vided for. Very likely there may be some
deficiencies, and it is not by any means i'm
! probable that our expenditures for national
purposes and coast deicnses may not altogether
tall within the legitimate rule OF reimburse.
ment by the United States. But such def
cheney cannot IN any sense be a serious burden
| upon the state.
With the amount which the present tax bill
will supply, and with the added amount of
the annual revenue, advance in good con-
| dtlon up TO January next. AT that time
estimate that the state will have to provide for
| reImburSlhg the towns ON account of military
expenses, S2,50O,O00. Add to this, if you
| please, somewhat by conjecture, ST 900, 900 to
cover all deficiencies before referred TO, all 10.
cal and military claims, aud unforeseen con-
tngencies, and you have made up a debt OF
| So, 0UOOO0 This amount can readily be rails
ed within two Or three years while the ordi-
nary revenue, increased ny the measures OF
taxation proposed 10y the finance committee
upon the funds Of s2ndry corporations, will
be amply sufficient to meet our current eX-
penSeS, large as they are or are likely to be.
1t is not a forced conclusion, therefore, to say
that the present and prospective financial CON
dltlon OF the state Is, 50 tar as can now be
seen, free of embarrassment or appreht nsion.
l advise every man who holds a dollar of
Massachusetts scrip to continue to hold it and
cherish It, Our credit is second to that OF no
state in the world. AS it TO gild the very
edges OF our scrip, we have during the present
session provided that both interest and princi-
pal shall be paid in coin. Ii has been stated
with historic sanction, that when, long ago,
the little province OF Holland owed debt of
S25 100000 SO uSt was her sense of national
faith that the interest was always ready TO the
day, and whenever any portion of the principal
was paid, the public creditor received his
money with tears. There is certainly no good
reason why the credit of Massachusetts should
not now awaken similar emotions. provided
only the sensibilities OF public creditors re-
main the same.
MI. Speaker, in these rem rks l have con.
flied my self TO the financial relations of the
war, and to our material ability to support the
government through this great crisis The
manner of conducting the war | have not dis
cuSseI, because that rests in the discretion and
conscience of those who have assumed the
trust OF guardians Ot our liberty. If through
any fault OF theirs the contest shall fail short
Of the sublime object which free and loyal
men have at heat, the people will not he
answerable | can not refrain from repeating
IN this connection tie language of Mr.. Burke,
uttered under crcums lances OF national peril
and when appalling tancies disturbed his
mind =
"Fhe people [of Massachusetts look up to
that government, which they obey that they
may be protected. They have in all things
I
| reposed an enduring but not an uurehecting
| confidence That confidence demands Il fun
return, and fixes a responsibility upon the
ministers ehuTe ana undivided. The people
stahu acquitted, II tie war IS NOT carried on in
il manner suited to lis Objects. Ii the public
hohor Is larnlShed-lt the public safety suffers
any uetriment-tIle ministers, not the people,
are to answer It, and they alone. Its armies,
its navieS, are given 10 them without stint or
restriction Its treasures are poured out at
their feet. Its constaucy is ready to second
ali their efforts. They are not to fear re-
sp0nsibilily tor acts of manly adventure. The
responsibility which they are tn dread is Ia,t
they should show themselves UNEQUAL TO the
expectations of a brave people There is a
responsibility which attaches on them from
which the whole legitimate Dower of this
country can not absolve them there is re-.
sponsibity to conscience and TO glory. a ~.
sp0nsibity to the existing world and to thar
posterity which men of their emiuence can
not avoid, for glory or for shame. A r4sronSi.
bility to 4 tribunal at which moi onlv minis.
tiers but even nations themselves nnst ono
day answer"
But | indulge in no such annrebensions
have an undoubting faith in The honest man
who is at the head of the Government tIot ho .
will be lust TO all parts of Ills ronr,irv and rn,
torpettuI of thn nri,.i,,I.s ,,,,,,, ,nl,:y, -
horne i,,, CT ~ r. P' ''oi ne WAS
80: nv oliGe' me people OF Massachusetts
/" no opJeGt worthy OF eXhausting their
the absolute and nnrondiiior.l ,,,,, 80 .'
authority of the government ~ in, ~ w. ~
blo 'Ti,,, L. - - - - '''tt NC PoSSl'