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New York On The Financial Question

New York On The Financial Question image
Parent Issue
Day
7
Month
February
Year
1862
Copyright
Public Domain
OCR Text

1 hu New i ork Lcgilaturo, by a r.early unnoimous vote, have pas sed tho following resolutions. Thuy aro sound all that is needed to securo tho credit of tho nation on a firra basis is the adnption of this policy by Congreas and a êtoppage of the 'eaks in the Treasurrr made by swindlivg agtnts and conlractnrs. The refolutions are as followa : 1. That the payrnent of the entire interest on tho pi'blic debt should be secr.red by sufficient permanent direct tax, pledged to this epecifio object. 2. That a sinking fund for tho reiinbursement oí the principal ot tha public debt should be created, set apart and pledged to that pnrpose, 3. That the direct tax oí 820,000,000 levied by Conjprese, August last, togelher wilh tho duties on imports, should be employee! to defray the curront expenses of gpvernnie.pt. 4. That the people of this State nr willing to pay by direct taxntion their ehare of the interist oí the public dolt - and to share with other loyal State any burthons of the financial policy reccommended ; bulioving that such a system of finance will command publiu confidenco, and al! tho nieans needed, at more favorable rales of interest, lesa depreciation in tho valué oí stocks aid less in jury to the people, than iha emission of coverncnent paper mado a cornpnlsory legal tender, or the creation of stocks without spocific Hecirity for the paymont of interest and principal. in in The Spoils. - The valuo of the munitions of war captured from Zollicoffer'a rebel nrmy at Mili Spring and Cumbcrland River, raay be estimated as follows: Horsos and mules, $100,000 Wagons, 60,000 Ordnanco, 35,000 Muskets, 25,000 Boats, 20,000 Stores, 10,000 Total, $250,000 Parson IJkowxlow. - The Cincinnati Enquirer a.says : " A gentleman lately from Nashvillo sa)'s that Parson Brownfow'a health is very poor, His son stated that ho doubtcd if his father would live to reach tho Federal linos, and, Í his health would pormit, he did not bolievo tho robel gaard would let him go."

Article

Subjects
Old News
Michigan Argus