McClure's Magazine, Vol. 6, No. 4, March, 1896 by Various
page 20 of 197 (10%)
page 20 of 197 (10%)
|
Nor did they feel any need of estimates; that was a mere matter of
detail. They would vote a fund, and when that was exhausted they would vote more; and so they appropriated sum after sum: one hundred thousand dollars to improve the Rock River; one million eight hundred thousand dollars to build a road from Quincy to Danville; four million dollars to complete the Illinois and Michigan Canal; two hundred and fifty thousand for the Western Mail Route--in all, some twelve million dollars. To carry out the elaborate scheme, they provided a commission, one of the first duties of which was to sell the bonds of the State to raise the money for the enterprise. The majority of the Assembly seem not to have entertained for a moment an idea that there would be any difficulty in selling at a premium the bonds of Illinois. "On the contrary," as General Linder says in his "Reminiscences," "the enthusiastic friends of the measure maintained that, instead of there being any difficulty in obtaining a loan of the fifteen or twenty millions authorized to be borrowed, our bonds would go like hot cakes, and be sought for by the Rothschilds, and Baring Brothers, and others of that stamp; and that the premiums which we would obtain upon them would range from fifty to one hundred per cent., and that the premium itself would be sufficient to construct most of the important works, leaving the principal sum to go into our treasury, and leave the people free from taxation for years to come." [Illustration: STUART AND LINCOLN'S PROFESSIONAL CARD. The professional card of Stuart and Lincoln shows that the copartnership began April 12, 1837. The card appeared in the next issue of the "Sangamo Journal," and was continued until Lincoln became the partner of Judge Logan, in 1841.] |
|