Democratic And Republican State Policy

Last, wi'ck we gnve fpoin the record 1 hu l".!'l; :;■ !:.i:i.. li;:lt sboWeH tlld II l Püt.TS oí' Democratie Sta!.i cm; from l$42 t- 1855. Prom ': lid ernpty trearfttfy mü! Uve : ácht, üiul iiü mnrwy ;' pay ei h ■: c .( rtr prinsiple," witli the trixea an..l rovèirteS ol the State antïetpated t vtha is.-uo of Rtrij.it for two vea'-", We havo seen that tho polioy of John S I5A.HRT bruiH?ht tho Ölulè hitn u . nid proeperoua coudition," ' portret ly ín o frotfl en)baiTnsPrneit in lier linanicial eondltion," no miK-h o that "uo r.'-i'!1 to direct tsxntion wiH !." w&h tbo principa' ruid int ■■ i of the State debt providéd for ti!l 180), nnd '' wifh ampie cneans" to oor ry on the Hiatr hiétitution. An ' more than uil, with the fiinded debt redue1 tL,SStL81 ("'.!," aud tliíít'Svi'li BJB' dioioua and ocohoWhoüI innnaprcinehl of her resources [the St.i e irill aoon bo pelievêd froiti debt altogelher." Let u n-'p-at (t.)V. I : , : ,'.-; iani:Mi:i;r', and that of his Oabinet. The tradte oOght to bti Bortnimed ioto the o irs f overy repnrblican in Ihe : and posted on evöry corner oí the Ktroot. Thev : eutficient rttiswer to 11 that repilblicane tnay trump up oí' charges (o ward off lhn iniqullïes of their o mi !ra'ior:s. A party that coulci cfirry b 8tnto tHrough such embarraeements and lêavë ii in such a ' liiijli!}' nnd flourishing condttioo," could nnt have stelen i gi"feat detil. - Bnt (o the ex: rat ís : " I am hai'i'V to be able to congratuluie yon (fl your meeting upon ilio higttJy ƒ■ vorálh and próstperout eonditioiVof ílie'Staíe. Dirringfthé pa?l t'ie fields of agriculture havo yielded an j abudunce, and tfh hüsbandman isieceiving a rirli rèward for his induatry : - tbfe itiechanic and tho raboref lia-.-o boen wel! rdquitcil For their toil - branch of trade and eótttmerce h:; met with iignal roc'èeta-rthe'tide ó! einigrution haw brought a :'n acces skur to our nuwtbers, and an intelligent and enterprisittg èlass of eitizens - the nnoöi :; ■■';■: t Krtione of our State have been ia)illy Gliiog up - 'he nteri educftünn have resolved m, usual ■■ tion - nuf1 f,'hH)ls and semioariea oí learitrfig are in a fiourshing conditiwn - ar.d hap]i;i.e;s, protperfy and poace pro vail (hrougliOBt our State and cöiihiry. ■■Tho fUncfëd debt of the State atr.ocnts to $2,887,581 60, of which $100,000 n Mny 1ö5G; $19,000 J'Oit 1S5S; 20,000 iii Janöary 1850; SW, 000 1SC0; ar,d $519,391 in January 1 SG-". There bad boen aCeuffiuiated i i the State Treasurj', and was on hand i on t' e l.t i'lnv of Deceiftber laat, 9552,000 08, which has buen paid in as principal chu't'iv upon the edueational funds of tho State; Tie Klitte is perféctly j'ee fr'iim em hirrassin,-iit in 'er fai'in-i il COndilion, tnJ it is befieved ttyit by tiïepracticeof a proper tyslem of cconomy, o kïsokt TO DlHECT TAXATIOX uxill be rrqui'fd to meet. the ordinary expone of tte gov eminent. ■'■ Soon after the forraation of our State government, promjitcd by the wild spirit of excitement and .peci:!atior. whicli prevailéd at that period, with a comparatively small population, and no resources, sho embarked in a gigan tic systetn of internat irapro'vement. An inmenso dubt was created, upon which tho iaterest was acoumulating ut a fear; ful rate, and the worka apon hichs!,e was engaged, yieldihg littlo or no iinmediate return, the State wae Boon brought to the "verge of bankruptcy and ruin. Ftn tunatily (or our people, tho Legislature wasenable] to disposeof the two principal works, and ah though tht; State eufiered considerable loss yet she was roliorod from itnmediatc ctnbfirrasptnetU, nul wilt ajudicioVs avd rconomical management of her resources, wiH toon bc relieved from debt altog iher. We wtre tailght by this éxperienco of the State, the fallacy of nndertakiug the construotion and management of pubüe works wfiic ■ can bo o much better dono by private capital and enterprise." - Gou, Bingham's In. avgvraJ Addrcts, Jan. 4, 1S")5. "TIic large êurphis in the TYcasury, Tfiili the iiicomo fröjn speeifio taxes, and the salo of State land?, it is believed, will be found sitfpeient to defray tho ordinary the ordinary expenses of the goverumen'. and meet promptly the interest on the j public debt, and so inuch of tlie pi as mature previons to 1860." - Atulitor OeneralJones" lieport, Bec. 10, 1855. '■With the means arising from interest on the public funds, from the epecific t:t.ps upon railroads, mining and tnanufacturing companiep, from the procceds of the primary scliool, swamp and othcr lands, the State may safchj rely upon a fund sujfirient to meet promptly tlie iutcre6t aud the principal and the State debt at matur'ty, and ot the same timé find herself possessed with ampie resources to oary out thé liberal plans already' laid, for promoting and foslcring popular educa tiom, nnd compleÖng and putting in gnccessful operatijn our soveral State institutions " - State Trea&urcr Holmes1 Report for 1855. See Scssion law 1857, p. 555. Let us see in tbis article what ai-o the grand BB8DLT8 of live years of republioan administration. By turning to page 11 of the Report of tho Auditor Ge.icral, datedDce. 30, 1259, the following staterucnt of the State indebtedness will bo foutid: Penitentiary Bouds, $t0,000 00 Int. Imp. Warrant Bond?, 50 00 Full p"d 5,000,000 loan boïsds, 177,000 00 Adjusted Bonds, 1,731,185 "00 Temporary loau Ljnds of 1858 50,000 00 Loan of 1858, 210,000 00 Part paid 5,000,000 wlien fnn'd 98,356 90 Outstanding Int. Imp. War't, 3,737 04 Canal Bouds, loan of 1859, 100,000 00 Total, $2,416,323 94 On page 16 of the same Report the balance duo tho trust aud othcr funds are statcd iu the aggregate amounting to l,1294i981 05 Ou pago 14 and 15 of tho game Report is j statojnent whieh shows the indebtedness of tho State to tbc couuties to be 124,669 00 Total, $3,835,079 08 This comprises the indobtedness of the tateon the SOthday of Dee., 1859, ex.ept that of the several State inatitutious .ihich will have to be aBuraed by legislalive act, and the amount of which canaot now be determined. Now let ns sec what tlie State had on hand t) meet this heavy demand, The sanio report shows that the Treaaurer bad on hand in cash tho mm of eu3,577 22 And that there WM dne from the several couuties 80,282 85 Total, $193,859 57 The balance sheet, therefore, of the Stato at that time would show that the Stato was in d.-'t in the hbd of $8,835,079 68 Ai.'l that it bad on hand 193,856 .")7 And consequentie was in dobt beyoud iu ineaus, 83,6 19,12 Now if t ii is is an mm o &i KOm on th; affaits of the State in December ■"■[, t lic; ti the republican party have Jone well, Uu lesa it is a very great improvenient, the republican p:irty ore ty i a very great viohuiou of their j pledged tn h iiinistratitrti of tlio Statu . ,t mui a spoody pynB oL the Stat.o iL'!!.'' L?t, us sco how tliis mattor v.-{ ;-. ;,i i-a. will take republicnn aur thority whenevi e we cao find it. In tlio t ibüvc lVom Gov.; BLnghara's inaugura] he rui-; the fundad debl ■ ■ 387,581 61. Th; figures aro doubtless corroe1. Butwe will take othèr republiLUtbority which will be hio're favorable to them. ï.n tlie report of the Audiiii ral quoted, thu bonded Jcbt in Lèe. LS5O is put at $2,416,328 91. Adding tn this amouot the suma paid sineo ; Dee. 1851, and deducting therefrom the . amouuta bj which it Las been inoreascd arad tbc exact indebtedxiesa at the latter i dato Would be ahown, if the figures for i 1859 wort; correo! In the Auditor Gensral's report just i (.(uotel ij-o.n it ia claimed that in tha-tyear (00 of Peniteatiary bpnda and, $1,■ 385 70 i u adjusted bonda were paid; and in tho State Treasurer'a Report for 1858, (see Session Laws of 1859, p. 1,139 and 1,140) it is there claimed that in the years 1865, !5(i, '57 and '58 boñds to the amount of $3 I ,836 83 were paid; which shows that t!ic republican party have paid $866,122,53. It will also appear by teference to the table abovein 185S the debt was increased by the "Tempovary l.)rn" $50,000, and by the "Loan of 1858," Í216.000, and in 1859 by the Canal loan 8100,000-63(36,000 in all. It is evij dent, then. that the bonded debt has beeu dimlnished by $365,122 68, and increased 1366,000. ïhe bonded dabt, therefore, in Dec. we will put down at 2,416,451 -il Tho report of the republican majority of the special committee to the House in 1858, p. 8 says "üp to the 30th Nov., 1855, the amount borr.owcd trom the trust fundj was - - - $676,288 80' The amount of iodebtedneaa to the counties Nov. 80, '54, appears by the Aud. General's report, p. 15, to bo - - - 507 C2 Total indebtedness, Nov. '54, 3,093,247 89 Gov. Bingham, in the extract quoted above, says, "There had beeu accumulated in the State ïreasury, aud was on hand on tho Ist day oí December last, [1854,] - - - $552,000 08 The Auditor General's report shows that. Nov. 30, '54, the counties owed the State, - - - 48,859 Gl Total means, - - $600,859 69 The balance sheet of the State, therefore, November 80th, 1851, stood - Total indebtedness, 8:5,093,247 89 Available tueans ou hand, 600,859 69 In debt beyond its means, $2,498,388 20 It will be een by the foregoing, that in December, 1859 the total iudebteducss beyond the meaus on hand, was $3,642,123 11 And that in December 1854 it was 2,493,388 20 Makinc a difference of 81,148,734 91 In otber words the republican party, during five years of its rule, increasee the liabilities of the State one million one hundrtd and forti) mgkt ihousand seven Imniïrul and thirty-four dollars and nineiy-one cents.' By every pledge which thcy made bcfore their clection - by anything like the practico of that "judicious and economical management," of whieh Gov. BlNQHAU speaks, the liabilities of the State ought to have boon. aml would have been under democratie rule and policy, redxk d a million of dollars instcad of beug inoreased mure than a million. Such are the kesi'trs of tive years of republican rulo! Dut we have made this artiele too long already. Wc have establishcd, not only the most flagrant violation of pledges on the part of the republican party, but the ivuiet pxoñigate and wretchcd administrotiou that ever rulcd any peoplc.