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must dspend, and judlcsusiy controlled they are an
ply sufncient n the whole interest cannot be
annually hquidstsd. pay two, three, or four psr
cent and every creditor would gladly receive II. We
have NO doubt but that some decided movements will be
made in the legislatures Of al the delinquent States this
winter to provide for their accumulatng debts but
Of the States ara so deeply and hopeesy that
we cannot expect much from them Indiana and Mssis.
sipp are almost beyond hope, but still some compromise
may he agreed upon. The subject TO be placed before
the legislatures Of the delinquent States h direct
taxation; all other have failed and the only
hope left d in the disposition to levy taxes and the abb


ty to ray them. That the issue the whole question IL
narrowed down to that point and it must be dis
posed Of at once any attempt TO evade will be the frat
step towards repudiaton Ohio continues to pay the
semi annual interest the State debt guarly but the
financial sfars Of that State are involved in 20 much
mystery that impossible to tell how they stand The
official statements are contradictory and the receipts
into the treasury auctuate much that it il difficult to
arrive az any conclusion II stated last winter on
the moor OF the Senate the Governor elect that State
stock had been issued and records kept Of amount
nSmes and that the actual indebtedness Of the State
uhKnswno any Of the government officers. The audi.
tors reports and the Governors messages differ materially


nFhe receipts and expenditures OF the State and about the
whole management Of the State finances there has ever
been carelessness and ooseness say nothing more,
that has materially injured the State credit