{"newspaper_name": "The New York herald.", "edition": "01", "page": "p2", "byline": ""}
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The quotations this day for State, city and railr(
stocks, show an advance en- those current on the S0i
January.


Since the Let inst the Banks of this city have put
their resources very rapidly, and loaned largely ul
stock securities. By so deing they have created cons


able speculation in all kinds OF Stocks and produ


quite improvement in prices. There has been no I'D
al Improvement in the real value Of any of the socks
this list within the past month"; any further than the aci
mutation Of interest gives them; but on the contra|
stocks Of the delinquent States rather depreciatl
than otherwise Some little advance has been created
Ohio stocks, in consequence Of the recent passage
bill through the le sslaure Of that State, auhorising
establishment OF Banks ,Pon State stock security. H
ers have anticipated demand for the stock in COM
quence Of this, and quotations. have advanced frsct|
The Legislatures Of Pennsy vania, Mary land Michg|
Illinois and Louisiana still session, and it 10 poi
BILE before adjournment something may be done to n
vide for the payment Of the whole portion of the


terest annually due punctually, but we have serid
doubts Pennsylvania has paid the interest due on the


nst part OF the debt Of the State, partly in spe|


funds and partly in relief notes county scrip SC butt
funds from which the stockholders will realize two
sevensixteenths per cent being onesixteenih less ~


the per cent interest due TheLegislaure Of Pennsy


mia may make some provision for the prompt payment
interest due in August but movement has yet b
made to do 80, and we induced to believe that
treasury will not be in n condition to pay the u per q
then due on the funded or foreign debt The paym|
made the LIST instant amounted to nearly humid
thousand dollars than the balance in the


that time. The receipts into the treasury between Feb


ary LIST and August lt must be large enough to pay
| current expenses Of the government, including
amouRt due the members Of the Legislature, and 10
vide for the interest then DUE the State again beco


bankrupt Thepslicy OF the administration OF that 81
will be- no doubt. to pay the interest," when due in WI


ever funds there may be in the treasury, so far as


will 60 This is at least the most honest policy, and


that may be in accordance with the views OF many sto|
holders, but remains to be whether it will be
best policy not From advices received from difsr|
sections Of the Sate learn thst the people pay


their arrears promptly also the recent


that the receipts OF the tax collectors much lsr|
than anticipated We hove doubt the effort made


the Legislature to redeem the credit Of the State will
responded to by the people, to the extent of their abi
| corrupt government makes corrupt people, and
honest government should, by the same rule, max 8
honest people, When the government Of State is del
quent in fulfilling any Of its obligations, the people


come Indifferent to any demands made upon them by
government arguing that, the State does not pay, th


is why they should, and govern themselv
tain its CT edit by practising the most rigid economy
all the departments OF government and endeavor to 81
justly with its creditors the people make correspond
effort to provide the means We have doubt but u
the determination ev ced by the Legislature Of Penn


vana to pay the interest the public debt go fr ms
| funds in the treasury would permit, will arouse
people OF that State to Of their delinquency,
induce them to quidae the demands Of the governm|
against them.
The Legislature Of Maryland have particular ri
under consideration for the eempson ofthe State cred


It has been pass laws to enforce the collec
OF the levied last session. The Legislature OF Him
have under considsrat revenue BILL levying tax
the purpose Of raising revenue to pay three per cent
the public debt but at present. its final passage is v
doubtful. The State Commissioner, Col Oakley, and
agents of the foreign ard American bondholdders
Leavitt, ESQ., and Gov Davis are at Springfield, in q
ference with the Legislature OF Illinois in relation to
Canal Loan of 81 900 ooo lately negotiated in London
the completion of the canal The Legislature Of lln|
had only two weeks longer to sit, at the date of our


advices and in that time all bills in relation to State
debtedness must be disposed Of in way The Led
latures Of Michigan and Louisiana doing nothing
wards providing for the pay Of the interest h
liabilities, and we may expect an adjournment OF thu
bodies without passing any law to pay tho first dollar
the interest on their large debts