Historical encyclopedia of Illinois . 0 percent. The movement of the State debt after 1840—when the internal improvement scheme wasabandoned—chiefly by accretions of unpaid inter-est, has been estimated as follows: 1842, $15,-637,950; 1844, $14,633,969; 1846, $16,389,817; is4s,$16,661,795. It reached its maximum in 1853—the first year of Governor Mattesons administra-tion—when it was officially reported at $16,724,-177. At this time the work of extinguishmentbegan, and was prosecuted under successiveadministrations, except during the war, whenthe vast expense incurred in sending troops tothe f
Historical encyclopedia of Illinois . 0 percent. The movement of the State debt after 1840—when the internal improvement scheme wasabandoned—chiefly by accretions of unpaid inter-est, has been estimated as follows: 1842, $15,-637,950; 1844, $14,633,969; 1846, $16,389,817; is4s,$16,661,795. It reached its maximum in 1853—the first year of Governor Mattesons administra-tion—when it was officially reported at $16,724,-177. At this time the work of extinguishmentbegan, and was prosecuted under successiveadministrations, except during the war, whenthe vast expense incurred in sending troops tothe field caused an increase. During GovernorBissells administration, the reduction amountedto over $3,000,000; during Oglesbys, to over fiveand a quarter million, besides two and a quartermillion paid on interest. In 1880 the debt hadbeen reduced to $281,, and, before the closeof 1S82, it had been entirely extinguished, excepta balance of $18,500 in bonds, which, having beencalled in years previously and never presented for. / / V
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