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It will be seen, on reference to the quotations in
the above table, that many stocks in the list have
fallen off several per CENT particularly Ohio Illinois,
and Ind.ana--,he last two delinquent States. Within
few days there hes been considerable excitement in
nancial circles in relation to the movements made here,
about the Illinois Canal loan The publication Of several
letters the subject-one from Barring Brothers Co
stating the position Of things in London connected with
the late negotiations and another from the Governor


Illinois, recommending to the members ofhe Legislature
about conveDing, the immediate adoption Of
calculated to arrest the rapid accumulation Of the State
Indebtedness and to levy taxes sufficient to part OF
the interest at least, if not the whole The stock has
fallen off three per cent in this market within the past
week, and further depreciation prevented by the
announcement that negotiaor, Of high
i.ancial circles, had taken the matter hand. David
Leavit, ESQ., Of the American Exchange Bank, and Col
Oakley ono OF the State Commissioners leave for Liver
pool in the Hbenia for the purpose bringing this long
winded ofar to focus. Governor Ford in his letter,
states that any State tax that may be levied by the
Legislature cannc be collected earlier than the latter part
OF the year lsa5, and then only 10 extent sufficient
to pay part Of the interest The commissioners ap-
pointed to regulate the sale of the public works CT
Pennsylvania have appointed the 2Oth of January
the day for exposing the for sale isrepcrted that
the collection Of taxes in syvana progresses much
favorably than anticipated and that the receipts





the interest due in February will be paid In cash. The
result the Presidential election in this country destroys
all the hopes Of State creditors in receiving aid
from the general government, by distribution Of the
proceeds Of the public lands. So far this question s
concerned the policy Of the administration IL decided
and every State must depend exclusively Its own
for the liquidation Of any of its indebtedness
This being settled State legislatures will take up the SUBJ
ec with stronger determination to meet the issue at
once.


The policy Of the new administration in relation TO
foreign and domestic trade is at present little known but
have every believe that 1t will be favorable
to every important interest Of the country 1t possible
tariff may undergo alterations and notifications, and
perhaps, reduction in ths average rate Of duty take
place. hut so far this goes will have very little nu
ence manufacturing interest. The manufsc curers
Of the United States have become firmly established
that they must steadily increase under any change In
revenue laws and by liberal construction OF
tariff act foreign trade may be improved by other
nations extending 10 privileges equal those received
Should the new administration. in regulating foreign
affairs in seeking the acquisition of additional terri
tory destroy the amcabe terms which present
10y wita the nations Of Europe, in
terest would grow with the greatest rapdty and
ly the largest portion Of great staple
ton We see in the future every thing favorable for
the great interests Of this country and while every local
interest is rapidly improving individual prosperity will
lead to general wealth, and the resources Of the
country at large become rapidly developed A gene
raj Improvement in the condition Of all classes will
enable them to bear the burden Of taxation easily,
and the legislatures OF delinquent States will have more
disposition to bring taxes to meet their liabilities. The
psoplea large be benefited hya sound liberal
in all government AFFAIRS and where legislation is
for the goodo ALL the effects soon seen in the efforts
of the people to advance their interests Had the
party favorable to distribution Of the public lands among
the States succeeded in the late contest the States would
have remained quiet and trusted entirely to the receipts
from that source relieve them from their financial EN-.
barrassment. Whereas now they must by economy, by
tsxaion by general in all the internal af
,sirs Of each commonwealth, their own diHcultiea
lone and unassised upon their own resources they