, 1869-07-09
FRIDAY. Jelly 3. 1869.


TIE EAIIEOA1-AID Law.
IT.. LEGISLATURE. at the last session
nc,s.i IN act anororriatine all taxes col
i.e,.5 fur ~: al. nur,oses in exceas Of the
X }u,;,n 4 l>is, IN the counties OWN.
debts {or subscriptions in ali! Of auy rni1-
ros.,. ,r v hieh nay hereafter CONTRACT such
,7,ltA. 10 ,!,c ,nvneat OF such debts, nrin-
c:trJ Ind Interest, The law also stipul.tca
ihst I'll ,a.ts collected upoa the property
NJ such -,;i-c.ds in said counties should be
.,,ns;,i III IL. same end. The Governor
,,t..d tl;s extraordinary I'LL but the dem
z,o.-,,,s in lie LecislatuSa pushed it
,i,y.u. h. a.d j. lec,,ne la1 ofer the veto.
prtylu,s T., Tie pazsa,,e Of this law there
had lu.., s,1,,. -,.aJ hy towns and counties
in ,1,. State II ]urre number Of bonds,
.r,,r,,,;,a, ,-r1, .l1T to =, ON fuso bat as
.he r,,,.-. ri ,he hoais anil ,ha irterast
,,or.,,, y, r,-s,.3 a., the s.veral ,o,S7,s and
c,.,n,,es .,-i;y t,rino,hcnseIyrs on,v
~ .;,>.1 o,,, ,,,+.,res, ,ho ,,,,3. hal M
cp.un,tvc;., ,,.,rc Th;s ar. IT thc I.c;slao-e
v.s nss>o,7 In t,eir credit. since The
-d;o,,r,,,,.,,. of IN. 11ois,,t1rc there has
hacn r.,h of s,hsc1n,ic,s towns md :.
,nuv,t,cs haze voted The most liberal
n,un,,,,. t,-,,~ n,n,,,er NJ ,-,,7vara rnn.
,;,,c ,,,,rx ,:n,hc- of n, meas. md in a,1i,n.
.r;r..1,,, ,3irec,,on. Tbs voting of snb-
.cri,t,,rr "a s.i1, ,,,ino r., md with the
,,,o,,3 ,,,ox5c,4s1r ,.,tej 81, rcact before
Ort,Ie, ~ .rorec,,+e nrnb.bIv of twe1ve
,itt.,, ,,,;,l;ons IL do1lorc . Wa not;,e
>, r,,r1,or r ,n.,n},c,, ~ the Jac;sla-
+,,,,, ,,,o ,,,.d II, tb;s hi, ma fonriro as
p-.t:d. n3s r,rectovz md other officers of
,,,ess, mushroom. rsi,-oad co,anauies.
nut the main end SOUGHT has not been at
tsittd. The yalue Of these bonds thus
s7,1tcr,, ri 1cs not 1,een i,nnroved They
.re not poth t1s cost Of nrintinc them,
No nam With manor tn. invest will nur.
cbase the ,ond of INV city or town OF
,,n.tv which refuses to IL, itself directly
- nav tle ,1irc;rul md interest. There Is
,ut c,.. v;.y 10 nav a cubic debt. md that
sby ta1a.ion, 4 public debt not secu1odby
m crrrtss ALLEGATION tt5t its interest and
,rincinat ,lAru lie maid bv taxatop has
no v;1u. in financial Eense. It
;u rt. cr,,,,,,.,c:,, ,o,,a, M ooe
VII ,u,,, ~, -, ,,,,;,n1;rt vii, haro
;, NJ ~, ,-;ca 7be W.. fact tbe, tho
,,,,tr ~ c;,- ~ to,r, ,sfn.eo +o lind
Il. a1f IN n "a ,-,ror+r ~ ,ha neo7,1a of
49, ,,e.1 rr;no;,, ~ ;xto,.
o.. ia ncc.n,.,d ,r csn;t,,;cta as av;dance
t1,nt 81, o,,,1tr III ,at ao ea and tbarofa,a
No hona 1.;,, ic wo,4hlezs Fo- tbc efteen
=. -
-. 49, ..sa,;e. ~ 49, Co. ...s;..,:ga
~ :, ~
~ - W.
- ~ :. .A's "o7 .' A'
.. -" .. t1,"' stS' 10y ~ au''u ~. ~, "a
~ ~: $780, ~, ~ = ,hs 'e. 1a1,s1,tnsa W. instasa - ~
help;re the credit of the bonds, hus, in fact,
injured it. II is regarded in financial cir
ctvs rs vcry shallow f1aud. The aasess-
uent of 1s,:- 70. State purposes WIS as
high as will be uladt for ton wears to come.
Corsecurrtly there will be no excess Of
revenue from any of those countiea to be
annlied to these bonds, Moreover, If there
were IN honest intention of paving the
1onds, why does not the county tax itself
for tl4t purpose Take any county in the
State-say With nsncssed equalized Sllna-
ton in leCs Of si1 millions Of ta1ables. That
slows IN aggregate cash value Of ta1ables
of eighteen millions Of dollars. Such
county might subscribe for railway
IMPOSES one million OF dollars, payable
twenty years- The county could then
eyy tar Of three mills per anuum on al
Le property II the county to pay the inter
st and tho principal. This tar would yield,
lie frst yeu, s53 900 towards paying the
interest ; but the construction OF the ral-