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NEW STATE aoAN.-The ball to authorize the
Fund Commissioners to borrow SSo0,00O on the
credit of the State be applied TO the payment of
the arrearages due contractors, has passed the
House 1t provides for the issue Of Stock bearing
an interest of 10 per cent. payable at the State
Treasury. or (if the money cannot be obtained on
such terms Yin New Y ork, redeemable after 1856
the Stock NOT to be sold for less than par.


A more fatal blow to the interest Of the State
could not have been conceived. Il the bill passes
the Senate, the crcdi, aud character of the State is
pros,ra1ed at once More than ,ha,:-the bin de-
fea,s It's own object the money cannot be obtained
under it. LOhio State Journal