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' rVtUIBBD IT ,
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fingla eopy, per annum, in advance; $1 60
IT not eaio witnie three montbt, - - .SOU
It Hot paid within the year, , - - - -' 2 50
HepapeewiH be discontinued unless the tame
Ve feH f ap to the time of discontinuance.
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Cuk additional iniertion. - - - - - 38
Yearly and quarterly advertisement! at reason
able rates.
Ateats for the Banner
1. h. Murray, Bowling Green.
Satin L. Triable, Spencerburg.
Dr John C. Welborn. Frankfor.
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tt. Minor, Pfairieville.
' Al t. Thomas, Payneaville.
2-.PwliffSrrdnd?CJark.Tille.
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:3ff.S!i",l0-a--
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Col. William Priest, New London.
EXTRACTS
FROM GOV.;KING'S MESSAGE.
Gentlemen of the Senate
and Htuse of Representatives:
The period hat again arrived when the
representative! of the people are required
to assemble and consult together for the
public good.
The constitution requires thatMthe Gov
enor shall, from time to time, give to the
general assembly information relative to
Die state of the government, and shall re
commend to their consideration such meas
ures as he shall deem necessary and ex
pedient." I enter upon the performance of this duty
with a due sense of the weight of obligation
resting upon me that co-operation witli
you, the people, our common constituents
have devolved upon us the important duty,
for the time being, of giving point and Hi
rection to the destiny of our growing and
prosperous State, of developing its resour
ces and elevating its character.
We have assembled under the most fa
vorable auspices to do good. Enjoying the
blessings of health throughout our favored
land, surrounded with that abundance cal
culated to render us contented and happy,
aod every branch and department of indus
try receiving its merited reward. J
Our tribute of gratitude is due Him who
lias so bountifully bestowed these blessings
upon us, and we should invoke His aid to
give direction to all our counsels, and en
able us to characterize all our acts with
prudence and wisdom.
I shall endeavor to cultivate the most
amicable relations between the co-ordinate
Branches of the government, and feel assur
ed that, in an object to necessary to pro
mote the best interest of our common con
stituents, I shall meet with the (Jo-operation
of the Legislature.
The financial condition of the State af
fords gratifying evidence of our prosperous
condition, a statement of which in detail
you will find in the report of the Auditor,
to be laid before you. I commend this re
sort to Your fatorabie consideration, as af
fording evidence also of the ability and
faithfullness with wbieh the affairs of thai
office have bee conducted by its present
in en m bnt.
The fisoal year having been so changed
as now to commence on the first day of
January o&each year, it is not in the pow
er of the Auditor and Treasurer to afford
the information necessary to'ahdw the con
dition of the finances in the last quarter of
the fiscal year, in time to be laid before the
Legislature in this communication. From
the first day of October, 1848, to the first
or October, 1849, there was, of the reve
nue fund, received into the Treasury,
27,075 49. From the first of October,
1849, to 1st October, 1850, $293,659 80;
edd to this, balance in Treasury on 1st Oc
tober, 1843, $318,84 083, making the sum
of $839.576 12. From this amount there
must be deducted as drawn from the treat
uxy, $271,005 31, the accounts for which,
will be shown in detail by the Auditrrsrs
port It will be subject to an additional de
caetion of $0,76 2?, composed of inter
'est coupons open State bends, and of State
bonds taken in el (be treasury, and for
which the Treasurer, ea yet, has no credit
npoa&e books in the Auditor's office.
Deduct .these two amounts, and it leaves in
the treasury, on the 1st of October, 1850,
$488,194 54.
Toe aggregate statement for the tear
1850, has not yet been returned from all
the counties, but an examination of these
returns for tbe year 1849 shows the amount
of taxable property, according to its asset
ted, .tain to be eveBtyeino million four
, hundred and fifty-six thousand five hundred
and forty.teren dollars ninety-seven cents.
In arriving at this sum the assessed value
eflands is $31312,3151, 77; the value ofi
tewnlotl is $2f,44T,468, the valoe'of slaves
U f 17,772,180; other personal property is
$7J3108-0. ; ' .
- 'The revenue for the last two years, up to
IsielDfiC, ifSSO, and which has been rc-
cawed .into Vie treasury, amounts to $520,
Jr3eadtt i .estimated, if the present
reus saw etyaets ei taxation snonM not be
"United W Stakd Dividid W Fall"
i.VOL. 6. . LOUISIANA, PIKE COUNTY, MISSOURI, MONDAY, JANUARY 13, 1851. NO. 29.
altered, that the revenue to be received in
to the treasury for the next twn years, will
not fall short of $650,000. This, together
with the amount now in the treasury, will
be a sum sufficient to defray the ordinary
expenses of the government; to meet , any
probable appropriations made by the Leg
islature; to pay the interest on . the . State
debt as it becomes due, and to pay the State
bonds, constituting the State debt, as they
become due.
..The Legislature, however, may deem it
a duty to alter the manner of obtaining rev
enue, so far as to change the objects of taxa
tion. A portion of the revenue something
less then one-third ot it, is now coiiectea
under the license system. The right of the
State thus to. levy a tax, has, for the first
time, been called in question as being in
violation of the ennsittntion. The matter
is now pending before the Supreme Court,
and it is to he regretted that the question
could not have been settled belore the sil
ting of the Legislature. The decision of
this court, even though it may deny to the
State the right to exercise this, the highest
act of sovereignty, will be final, and its
mandates are to be obeyed until reversed.
The Legislature, however, cannot under
take to shape its legislation in anticipation
of this decision; neither is it my purpose to
enter into an elaborate argument to show
what that decision onght to be, and Upon
that hypothesis to recommend any legisla
tion as to the objects of taxation, nor to call
in question any anticipated decision of the
court, even though it should go to the ex
tentalready indicated of declaring that
the Legislature has not the constitutional
power to levy any tax, by way of granting
a license or special privilege to any person
to exercise any business or calling what
ever. The State, in exercise of one of its
highest prerogatives, can tax any and every
tliino n nrnhikiteil tn it hv the cnnstitll
tt;..,1 Si.t.. tk. enmniri nf.suita, their attention to the duties
this State with the general government, or
the constitution of Missouri. The only
limitation upon this power by the constitu
IIUU Ul 1BBS3 tUIIVU !- w vv.h - ,
tion of this state is, that all property sub
jeci.ie tax, shall be taxed in proportion
to IIS value. a in uon nut I'runmii
r t m J . : U . it-. !
Legislature from sayiiig what property shall
. . .-!
ne subiect 10 taxation, it may aeiienate
what species of property shall be subject to'common school fund. The bonds of the State
taxation, and all property not thus aesignat-."" "uw wul ,UI wm w ur ame hock, rrpnn w w cmn, i7 B.n; w..u-qi,u .ur..
ed will be exempt 'or other worcl' we re now paying a semi-'down to the number of acres, at shown by the
This clause in the constitution, therefore, j"nnu'1 in,erMt P" borrowed money to Unklaggregste statement to be assessed in the State.
, . .. .. ,. ' , upon. ' The plan of numerical assessment will remedy
only operates as a limitation upon the pow- rT- ... . ... . . ... . fr. a.. .kI
er or the legislature, to u.e extent mat wnen;
property IS by law made subject to taxation, i
m , . . . . . a T
it is to oe taxea accoruing i n vbiuo anu -
the legislature may rightfully resort to any
Olner means oi raising revenue, wmcu uob
HOI Come in ronnict Willi ine oilier rcirmni
innn legislative nower.to which I have re-i
ferred.
i --a i ' I
I leave it for the legislature to determine)'0
as to the oppressive character of the law
as it now stands, my convictions lead me
to the opinion, if it should be determined
to let the law remain, and abide the deci
sion of the court j that it should be greatly
modified. The striking injustice and op
pressive character of the law, will be made
annarent when tou examine the table of,
license prepared by the Auditor, which
.ko ifa m.vmt'inn
On the 1st October, 1848, there was a
.1 . ...
balance in the Treasury of three per cent.
fund of $15 49; since then, and
October, 1850, there has been recei
to the Treasury :M6,140, allot wliicti n"j0f $19,000 constituting a portion also of this
been apportioned among the counties
c-
cording to law.
There have been paid into the Treasury
einca the Istflav of October. 1850, of the
"Internal Improvement fund," $139.801 68;
rk;. .mnnnt. 1n Atil FiR hmvn been naiil
from the Savsnnah Land Office; the balance oh the bonds' to be notified to present them for
from the other three Offices. There re- f'"' iirt rf ;ebrrjr ;fcDdf
f th.l -m.,nf. nt r.t ..mortioned.!that "? be paid on them after that
and distributed among the counties $24,
154. By a provision in the charter of the Bank, it
b bound, when required, to act as the fiscal agent
of the State, without charge for the same. It
has been thus employed in paying interest, " it for the sum necessary to psy them, I caused the
fell due, upon most of the State bonds. ThejTreM,lrer) upoD my requii,,,,, to take them up
Stale haa had her revenues deposited in the and hold them aa monev. I now recommend that
Bank, in amounts sufficient to meet these de-
mands. Ko claim haa at any time been present
ed at the Treasury Department, by the Bank, for
money thus advanced ; if it had, the amount
would have been audited, and paid by a check on
the Bank, payable out of the funds of the State.
I feel it my duty to bring before the Legisla
ture the subject of a re-organixation of the Bank
of the State of Missouri, and to recommend fuch
measures as will entirely diconnect the State
from it. In taking thnr step, It is not witn a view
of finding fanlt, or cutm censure upon those
who have heretofore had the management; Cf the
Bank.-but from the belief that there is an' inhe
rent defect in the system, under its present or-
ganizaiion, ana a conviction, , o iiyw
i me itipoii -
jr iZJiT " r r
'"rrrrrJT... ..v u... ii.l
A IW IssWIWl wsj esiv bmiibi
11
at five millimis of dollars, and in compliance with
a provision of the constitution, ene-balf of which
it reserved Tor the use of the Mate. VT this re
served stock, only $272,203 60 have been in
vested bf-the State in her own right, and $675,
667 96 the University and Common School
funds have also been invested by the State as
stock in the Bank. .Id reference to thirtke State
can onlv be looked unon in thehehtof a trustee.
equitably bound to make it gooifit anjfcforBoSj
01 it oc lost. ? -Individuals
own of the stock of the bank $253,-
962 37, So that according to the charter, the con
trol and management f the Bank have been en
tirely in the hands of the State, or governed by
a president and directory elected by the Legisla
ture, or appointed by the executive. While the
State continues to hold the stock invested, and
to be responsible for that of the University and
common schools, and the disproportion of the
stock held by private individuals, continues as
great as it i,, it is not my purpose to reoottitnend
any change in the management of the Bank.
The knowledge derived from the experience
of our sister States, strengthened by my delib
erately formed opinion, in reference to oar own
Bank, has satisfied me that the State should nev
er invest its funds in any institution, the object
rtsponstoie tor us management, ana ssonuiy ana omce, io.sou tracts oi tajio, wnica naa ocen sa-
t. . . . l. jrf lfTj-frKr.: . . - it : J -r
and aim of which is to deal in money. In theduired to le so made cut as to begin at the low-
selection of directors by individual stockholders,
the choice is usually made unon a personal
knowledge of the individual selected, or upon
information derived from those having a like in
terest in the matter. But in the selection of di
rector's oa the part of the State, it is impossible
that either the Legislature or the Executive, can
havelhe same means of makings judicious choice.
They are often called on to act, knowing nothing
of the individuals recommended for the station,
other than recommendations, which speak in gen-
eral terms of qualifications, without affording
any test, oy wnicn to discriminate between me
applicants.. These recommendations msy also
often proceed from those who have no other ob
ject in view than that of advancing their own in
terest. With a directory, thus selected, having
nn pecuniary interest in the Bank to look after,
and most frequently engaged in other active pur-
o
I a director
must necessarily be secondary in its character,
and the richts of the State are often liable to stif-
fer for want of a more vigilant euardian of its
interest. ed in all the town lota in the Slate, not embraced
With the view, thrrafnra. f .r..i.in-tIrT tha'ln the arorepate statement of the cumber of BCMS
State entirely from the Bank. I recommend that'
asi Dv putca, auworizing me Siaie IO eil
, i . - - . , r-. . 1 1
the stock held in her own right, and to withdraw;
.l- i ... , ... . .
irm mc mm, hock, ine university arm
wi pay y,, upm wfcch luiin WM ef.
fecUd , p4y for it, sand roliewe the State from
w uvuiu vu rum Is IfUII suvn Wt Uim saas
any future liability lor the bonds, or interest on;
the same. It is believed this desiruble object
cinnui ne accompli, neu, unless some inuuee -
t w priTaie niuiviuuaii to uuj oui.ueni
the Slate stock
cnaner oi ine nanx has out six years
. . I I . I n . . . .
run' I recommend that it be amended so a.
to extend it for a definite number of years, and
. . l .i . . . .
so to auer us provisions, mat ine Hank can go
into successful operation under the direction of
private stockholders, aud with such regulations
and restrictions upon the corporation as may be
thought best to secure the public interest
The bonds of the State, outstanding- on the 1st
ot January, 1849, and which Constitute the Stale
jcebt, amounted to $956,261. , A portion of thisjState.
amount $15,000, the State had borrowed from the Bv-an act of the last Legislature, the Govern-
I,n..l n,.,b . ..... .1
e ""j:"r w" imi. .. r v . .
e per cent. 1 oonus, on ine imn .way, i4y, instead ot ;lhe land, (pari oi ine ow.wu acre gram,; wnicn
iiD totheIs't'reneW'n?tllem fr nothr twe'v months, and had not been previously selected by the State,
A i iPayin8 t,,e nt"rit in advance, according lo the'amounting to 1,000 and 88-lC0ths acres. Inac
receivea in-;lerml of the loan, I caused to be paid. The sum'cordance with the provisions of this law.l have
OI "'"."""r " ine V.'w. 'n"a 0
jdebt, was borrowed under the provisions of an
act to sustain the credit of the State, approved
16th February, 1847. The bonds bore an inte
rest of eight psr cent, per annum, and redeems
ble at any time after two years, and payable at
i"ie treasury nf the State. I caused the holders
time. The bonds have been presented and paid,'
which, together with the interest then due,
amounts to $19,867 59. Although these bonds
were payable St the Treasury at any time after
two years, yet aa there was an omission in the
law to authorize the Auditor to draw a warrant
the Auditor be required to give the Treasurers
credit for the aaounf on the books in the Audit
or's office.
Deduct these two items, amounting fo $34,000,
exclusive of the iuterest paid, from the State
debt, and it reduces ft to $922,261 AO'. t From
thia may also be deducted $272,263 69. the a-
mount of State stock in' the Bark, the interest
on which it paid by the Bank out of the divi
dend,' and the Bank is responsible to the State for
the principal.
On the 20th May. aid the 20tR June, 1851.
bonds of the State, amoun'ing to $253,261 be
came due.' All this amount, except $3,000, it
at an interest of ten per eent. On the 15th of
!n., t . .0.. - .... . ct.i. i j.
interest of .even per c.nt,per
demption of all of which, it will be necessary I
Provision.' A very Urge amount ,
'v.: iv nn nv
liXJiXliinlbiils
the balance of the State bonds will become due
in 1853. I recommend, also, that provision be
made for their redemption and payment. !
The system of assessing- and colleetine the
revenue, from a tax upon land, has in it radical
defects, which require tome legislation. .From
an examination of the veoorde in the office of
Register of Lands, it will be seen that there was.
on the first day of Jane last, t'andiog in that
vertised, sent out to the proper counties, .and of
fered for sale for the taxes oT previous years,!
ana not soia, out returneo as loneuea, ana upon
winch there was at that time due lo the Mate
$45,162. In the year 1849, there were return
ed as delinquent, about 9,000 tracts ol land, upon
which there was due as taxes to the Mate, about
$10,000. These two items of forfeited and de-.
linquent lands, show the amount of State tax due
up to the first of June last, to be about $55,162.
These lands have been advertised, and were of
fered for sale in October last, with a view to col-1
lect the taxes. The report of sales msde to the
Register of lands, show that an amount has not
been received sufficient to remunerate the State
for expenses incurred in advertising and paying
collectors' and clerks' fees.
I recommend that a system of, numerical as
sessment be adopted, and that the tax book be re
est number of range and township in each coun-
ty, and in each township, commencing with sec-
lion one, ana running up io oo , ana mat town
lots in like manner, be numerically assessed.
If this svstem be adonted. it Will be most effec
tual in having lands assessed by their proper
numbers. By this plsn, also, the stale will gel
the taxes upon many tracta ot land, which, on
account of some negligence or omission, have
been dropped from the assessor's book, or were
never placed there. 1 o show that ibis is proba-
ible, I shall present one fact for the consideration
of the Legislature : by the aggregate statement
from all the eounties in the Stale, lor the year
1849, the number of acres of land assessed for
taxation, is 8,808 603, and ly a report frrm the
General Land Office, it will be seen that up to
the 30th of September, 1849, there had been
sold and disposed of by the General Government,
in the State of Missouri, and consequently after
the lapse of five years from the day cf sale, sub-
Meet to taxation, 13.907,027 acres of land. Take
i (rum this the prubable number of acres embrse-
of land, assessed for taxation, and alo the prob-
it i i- . i :.!.:.. l , . f
uio nuuwr Ol acres cn:crni w ii iiiii nip nil utc
years before, and consequently tjcM suljnt to be
: i i... : !. . j
isxch, aim jei, in raj uumum, win uw rruuer
the amount, as shown by the General Land Office
SUIUUIVI eiiui tssv. as im usiiivviia
!prefent n jt j, now fluently, the case,
'that the same lands are twice assesstd-onceup-
on the resident, and once upon the non-resident
list. Tbt consequence is, that the tax it' .paid
t upon ine one ana me cwtr is reiurnru ueuu
I have examined the aggregate
statement
of
the tsxsble ; property for the years 1848, 1849.
and 1850, in one of the medium counties, which
i. i i-i ; ,.u
haa for years been steadily increasing in wealth
and population, and yet I find thie statement to
show that the revenue was upwards of $600 less
in 1849 than it was in 1848; and for the year
1850 it was upwards of $3,000 more than it was
in 1849. This is but a son pie of the irregulari
ty nf assessment; and, by comparison, such rates
will be found to exist in many counties in the
i : - .T j:. ...... -r iV., .flnu f
i ""; iP" " ."gV Z?.
sold the same for $1,252 98, (being $125 per
ir. which has been naid Into the treasury
The subject of internal improvement will
demand more than ordinary attention from
the Legislature.
Missouri is susceptible of being made one
of the most desirable States in the Union.
But in order to this, the Legislature should,
by acts of munificent, but judicious legis
lation, give aid and assistance to the enter
prise now struggling into existence among
the people, which aims at a development
of the resources of the State to bring in
to the channels of trade those counties mil
lions of mineral wealth open to the farmer
and mechanics new sources of wealth and
industry to point out to the capitalist a
-. ' j . ' ...
sure means of profitable investment, and to
sucure to. industry, in an its branches,
surest and most ample rewards.
The crest error as our efforts to' make
!mnrnveinent9 has been, that we have not
given the energies of the State .to the com
nletion of one or two objects at a time; but
but when Legislative aid has been ouchtlpavine r,Pairs and necessarv expanses. to
for some usnful improvement, it ..has been;De pledged for the payment of the inter-
clogged by other proposition, perhaps equ -
allv deservinff. nntil even in the opinion
n ni
the most sanguine, it would be injudicious
to proceed.' , ,,
The eyes of the nation are upon' Missou
ri, and it is necessary that. she tliall now
mike a move. Railroads from Boston
round to Mobile, are pointing to our State,
'looking to ns for an extension of the lines;
of through to the Western frontlitr.from whence
by common ccmsent, the ener gijb thi
tlon wiirbOjConcentrstedJn jk0trlsj1he
road, across the plains, and to, ths Faaiio,
Our enterprising ooujttrymon, both- north
and south of us, who have interest ie difr
ferent routes, ; are most laudably.; sngsged
io pressing forwrd their plans,- whlab. It
successful, will not only turn into different
channels tho countless millions of. weeltb,
(he roads east f us would bring ista tbe
State; but we shall be deprived, moreover;
of being the receptacle of that golden stream
of commerce which is, et nq.distant dsy, to
flow in upon ns. from thf west; and also the
trade and : commerce . of. India, cf Chioa,
and of the ialands of the Paoific, which of
itself has enriched , nations, and built up
most populous cities in hath ancient and
modern, times, t ..; ? - t'i
. Let it once be seen that we do not Intend
to aid in this great work, and the roads east
cf Missouri, will be. made to diverge to
points . wlier ewergr and enterprise haf
been .mere successful. The action. f oof
S resent LegiaJaturaHe U'selua,tlfjtB
estiny of Missouri. , . .4 .. . . - i'
The State la now comparatively out of
debt ; a few years will pay ail, and it is. net
my desire that the Legislature sbaS(take.
any step that will overwhelm the Statea
debt, without any means of extricating it
self, except by a burdensome tax open the
people. 4- r ;;'
I deprecate the policy of the State 'be
coming a large stockholder, or engaging in
any considerable work of internal improve-
ment, as leading to those almost inevitable .
results.. But the Stale can do much in aid
of private enterprise. Two charters bar
already been granted by the Legislature for
roads: The Pacific railroad.from St.LooJate
the. western frontier, its anticipated route.
passing, for more than half toe distance,
through a wealthy, populous and fertile re
gion of country; the. Hannibal end SU Jo
seph railroad, traversing a region of conn
tiy unsurpassed in its whole distance, m
the productiveness of its soil, and its adap
tation to the means of wealth and affluence.
The prompt organization of the compa
nies, and the energy and determination of
the people interested in the respective
routes, manifested by the liberal subscTipi
.? . . .. . . i - j
lions ior siocx, assure us mat wey neec
but the aid whichthe State can give
sure success. (. These roSds are objects
not only of national importance, bat of par
amount interest to the prosperity and growth
of the State, and worthy 'the patronage., ot
the Legislature. -. : j . t t!.., v
Impreyement, by railroad, is dissimilar
from any work, of internal improvement.
Every mile of .pad sadewill afford the
means of returning; compensation, d by
the time it hat reached twenty or fifty miles
into the country,, hitherto impenetrable, es
far as respects the means of transportation
and commerce, new elements of wealth
spring up, new life is infused into the coun
try through which it pMEei, and by: the
time the road is completed, the moat san
guine are astonished at the elements of
wealth it has produced. This accounts for
'ha success of the railroad enterprise . in
some of our neighboring and sister States.
They do not calculate to spend - their mil
lions, and look to other sources for meanf
to pay the interest on the outlay, but every
mile of road is made to yield a compensat
ing remuneration. Such a result will fol
low the making of the roadi to which I have
referred. But can private enterprise bnuX
the roads? With the aid which the State
can give, in a way by no means oppressive
to its citizens, it can be done. - Without
this aid the work must faiL -;
A kno wledge.of the ability which will be
brought to bear upon this subject in, the
Legislature, relieves me from entering into'
the details of ' plan, by which the aid can
be afforded, t shall, therefore, only sug
gest what is now in successful practice .in
some of our sister States, and which I deem'
worthy to he followed. . 1
For evert $50,000 collected and expend
ed upon the road by the company, let' the
State loan its bonds the company for
such amount as will, by proper caidnla--tion,
afford the means from time t time, of
carrying on the work, to its completion.
Upon every delivery .to the company of the.
bonds, such a receipt or acknowledgsaent
of the amount shonld he given by the. eom
pany, as will, to all intents and purpotna
mount to a mortgage of the road and its
appurtenances, to the State, to secure the
payment of the principal and interest ot the
State bends. These bonds only to be is-'
sued as the means may be needed, end .af
ter the conditions shall have been complied
with. The bonds to run. for not leas than
twenty years, subject to, Jekemption ' at
any time after they shall become due, at
the option of the State.: The faith of the
itSiStata to h tildad far thair mdanintinf) J
I - - r
and the company to be required to make
for the-punctual .payment of .the interejf,
bo tuat mis snau never oecosM e coargw
upon the treasury of the State.. The in
come of the road, when finished,' after
it p0n the bonds. If the company fail.
y.- iiw pay tuia interest,
a sl:a a ! . a . - w - -.ar
end the principal, et
e . d w
the bonds when required, the States te
have the right,' under the mortee,cdi.
sell the road and its aeirartenences, Tor
the purpose of paying the same, or eoj
portion thereof that msy beeue.
I cannot but express a'le thalthisef
some proposition, wnicn is to ncoompusn
(the ssme purpose, will meet with the - fa-