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State Debts

State Debts image
Parent Issue
Day
10
Month
February
Year
1865
Copyright
Public Domain
OCR Text

'I'iii.s boina iba seasoti fur goveinora' iTic-sngi's, abuit h dozen dociimeQts of lliiw éhaiHctèi' h:ivo mude thcir appear unce wiíhin ;i fovv wecka, So lar a they ehow the dt-bt of tliu severa] States, théy ara nf spocial nterost, the effect o! war upon tinquees being vory ditinctly mniktd. Ás will be perecFvecf iVom the fullowing staiemenís, debts havu rnpiíüy Rcouuiulftt-ed witbin the hist four yoñta, and chieUy iu proseculinir the ur : lVntisyivania, $30,379rQV3 Massaehuííet.tB, -2i.',893,Sk72 Olio, ]y, 500,751 Iiluiois, 11,178,51-4 New York, f,:7-8,9ñ-l Müiuc, ■ g;fi$7r,500 l'onnecticuf, 5,000,000 MiebigHo, 3,521,129 Wi-cousin,. .2,500,000 Vt-rmoiit, 1,649,845 N.'w Jersey enjoya the ouviable distiiïctïöii ol huviufj 110 debt, but süidc (iiln.r Staies aro 'eiuiiy burthened. ! aks Maine lor i'ïample, whicb, büforo the wur, owed only "00,000, but now has an indebtefiness of ?5, 137,000, exn'iiBWe of large amount to be refuuded tu fitieH and towns for aid given to' foldiers' fa.nilies. Tlu Portlaud Argns, coüieuiplating the glootny prospect, is coiifitrained to s:iy ' tho odioations are that tiiu anidunt of tasatkin, munieipa', Saté, and Federal, will inevitably rouch the utmost limit thut can be borne. The State tax tbis year 8 to be ncrensHd by somu three hundred aud fifty ilii-iisaiid dolíais over that of last year, or En eight timea the amount it wis six yeurs ugo.'1 Ma-;saehu8otts owes no lees ihan -?22.,793,972, cf' whiuh $14 372,000 as tdde'd d-uring the war. Tliis suin, howfvcr, includes the debt (á-"),000O0O) ru;.ran;eed by railroad 1'oinpniiies. Oi the State debt of Wn cunsio, all but 8100,000 was ineurred ior war iurposes. Pennsylvania, wiih a largc dobt, experiences a seiiiible tjlivi in the discovtry ol imiriense subttrr mean reservoirs of oil, to say nothing of the continued development öf the irpii and coal regiuns. In this ahe is rvmarkably favored. Ohio wili have to meet her obligations under i-rc u m siálicos loss propiüous, lor whilo the i!.lilio indebtednesa has increased, the :iiiilabh) resources in some respecta lmve diuiinisbed, apparently on account cf tho lost of nmiuul labor by ibsorplion in tlu; army or by eniitnaüoii. The atiditor's report, jast publmhed, !))vá th;it, as compsrud with the year 1861, the nuniber of acres ia cereal crops has fallen frotn 6,570,829 to 5,lio, o74, of wh'uh about tiftcen per c-.!.t. u as n the laat year. In thu quantify o! ceseaks protlueed, tbure was a defroua 106,748,942 busiieia in 1862, to 88;245,Cü6 in 18 4, the decrease be'mr about scventecü per cent. in the last yiar. Ëxcept in the single tem of sbee-p, thero was a corresponding decliiie in the number of domotttic animáis. 'l'e "Eitipire State" of New York bas a ciVuiparatively small dtíijt, and beiDg in the enjoyiner.t of an incomparable cana] and railway syslem, to whioh the otirc West i.s tributary, has no special reuson for disquietude in regard to her monetary aflaira. 'fhe onu graat lessou for all the 8tate8 to learn, is the necessity for a rigid econorny ia every departinent of iidministrfition, and the greatest possible developmont of every industrial interest, Tho latlcr most be eedulously cherished, if only for the single purpose of rneetiDg the national dëbt. The agricultural wealth of the country has no limit, and the mineral resources of the CJnited States - the petroleum, coal, iron, copper and precious metáis - are practically ineshaustible. - i

Article

Subjects
Old News
Michigan Argus