Plan for paying off state debt without further taxation, ca. 1842.

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Plan for paying off state debt without further taxation, ca. 1842.

http://www.worldcat.org/oclc/37496295

Proposed plan developed by secretary to Fund Commissioner calls for establishment of sinking fund. Plan consists of schedule for payment of debt which itemizes interest that would accrue. Included are summaries of Illinois and Michigan Canal debt (i.e., value of outstanding stock and scrip) and resources (i.e., value of land, buildings and other canal property owned by state along with amounts due for land purchases ) and other internal improvement debt (i.e., value of outstanding stock and scrip) and resources (i.e., values of land purchased 1837-1839 for internal improvement projects, city lots in Cairo, 1842 federal donation of land for internal improvements and completed portions of Northern Cross and Central Railroads).

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Illinois State Archive

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SNAC Resource ID: 7393729

Illinois State Archive

Related Entities

There are 3 Entities related to this resource.

Northern Cross Railroad

http://n2t.net/ark:/99166/w6ns5853 (corporateBody)

Illinois. Office of Fund Commissioner.

http://n2t.net/ark:/99166/w6b912bq (corporateBody)

The Board of Fund Commissioners was created by l. 1837, p. 121. Board contracted for and negotiated all loans authorized by General Assembly for internal improvements and signed and executed all bonds or stock certificates issued for such loans. Monies received from proceeds of loans were deposited at State Bank of Illinois and Bank of Illinois at Shawneetown. These deposits were used to pay drafts issued on Fund Commissioners by Board of Commissioners of Public Works for expenditur...

Illinois Central Railroad Company

http://n2t.net/ark:/99166/w6pp35m6 (corporateBody)