Daily Wabash Express, Volume 20, Terre Haute, Vigo County, 30 August 1870 — Page 2

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DAILY EXPRESS

TKRRE HAUTE, IND.

Tuesday Morning, August 30,I87»-

Republican Stnt« Ticket.

JUWTOR of static, JOHN D. EVANS.

TBEABURKR OP 8TATK, KOBERTJI. MILKOV.

JUDGES Or8nPBK«KCnURT. JKHU T. ELLIOTT. C. GREGORY, -CHARLES A. RAY. ANDREW L. OSBORNE.

NELSON'TBUSSH&.

WreB,r®AB^BliOBffBOCTr^

...•'.. CONOKKSS, ii.,I

MOSES V. DUNN, of Lawrenco.,.-

The present members of Congress from Vermont—Meflsrs. C. W. Willabd, Luke P. Poland, and Worthington C. SMITH—have all been renominated. The election occurs on Tuesday, the fith of September.

It is stated that "a gentleman of Stamford, Conn., is raising a crop of cotton with every prospect of success. It is not very extensive, but it illustrates perfectly the' tropical nature of the present summer, even in the cool shades, ol bleak New England. The seed of this cotton was sown in a liot-bed in April, and the plants were set out about the middle of May. The flowers appeared long ago, and the bolls are already fully formed. More promising cotton cannot now be seen in Georgia."

Hon. John M. Ckebs, Democratic Congressman from Illinois, -and candidate for re-election, has given this "frank and manly" notice to the colored voters of his district: "Ido not want the negro to vote for me. The negro would be a fool to vote the Democratic'ticket. Lot him stand bv lib friends. The Republican party gave liim all his rights. Let him stand bv that party." Ami a prominent Democrat of this city savs that "a negro who will vote the Democratic ticket is :i lit subject for transportation to a lunatic asylum."

The Cincinnati Chronicle savs: "The Free Trader and the World have been vigorously egging 011 the Democracy of the Third Ohio District to a sharp struggle for the defeat of (Jen. Schenck, tor his tarifl principles. Since the nomination of Lew. Campbell, a life-long Protectionist, an the man to run against him, they must have become disgusted at. the contemptuous reception of their advice to make the light on a free-trade basis. In time they may learn that free-trade is not a winning card in Ohio. The tact is that Gen. ScHENfK moved, and carried by unanimous vote, a bill reducing tlje tarifi about $40,000,000, and that every Democratic member voted against it. "Which side do even the 'Revenue Reformers honestly prefer?"

The total eclipse of tlie sun on December 22d is to receive the attention of the astronomers of the L'nited States. Extensive preparations nre now making, and three corps of observation are to be sent abroad, to be stationed respectively Malaga, Sicily, and some other place in Turkey most available l'or taking observations. One corps will be composed ot the astronomers of the Naval Ohservatorv, Washington, and the at two of professors from the universities mid scientific schools of the country. Before the war in Europe broke out, arrangements were made that Rear Admiral LtVER S. ^Gi.isson, of the Mediterranean Squadron, should aid and co-operate with the corps to be stationed at Sicily but this plan litis for the present been interfered with by the contest, as the squadron has been removed to the T'.altic to protect American vessels in that sea.

The statistics of illiteracy in the Southern States are a sufficient commentary on the depressing influence which slavery has exerted on popular education. Of adults not able to read and write, Alabama has 228,152 Florida, 32,705 Georgia, 240,193 Kentucky, 101,370 Louisiana, 195,991 Mississippi, 210,-187 Missouri, 104,011 North Carolina, 210,1107 South Carolina, 103,501 Tennessee, 183,805 and Virginia, 303,014 while in the whole country there arc 2,952.230 adults who can neither read nor write. A huge proportion of these are colored people who have been in a state of slavery. The greatest percentage of illiterate persons is in Mississippi, where it is 00,85. The percentage of illiteracy is the smallest in New Hampshire, where in every hundred there are only 2.20 persons who are unable to read and write. The next best educated States come in the following order: Maine, Connecticut. Wisconsin, Michigan,-Vermont, Minnesota, Pennsylvania, Ohio, New York, Kansas. Rhode Island. Iowa, and Massachusetts.

It is seldom that our judicious eotemporary. the Philadelphia Impnrer proffers advice to Congressional Districts remote from its immediate field ot labor, but a stern sense of duty constrains It to appenl to the voters of the Third Congressional District of the Buckeye State not to elect L.i wis D. Cam cf.EI.I., exMinister to Mexico, to the seal ill Congress to which he aspiics im ?dr. CAMTUKl.l. has made a speech, iu which he says that he is anxious to go to Congress "from a sense of duty that his ancestors "fought in the Revolution:" and that ••the instiutions of the country are about to be subverted by the party in power."' and much more bosh of a -imilar character. As there are" already foo many buneoiub speech-maker* in tlie House of Representatives, ihe people of die Third Ohio District owe it a patriotic duty to their country not to send to Washington tuch a fustian orator as Lewis D. Camplift.].. "Mexico would be a much more appropriate place tor him, for there the "institutions" are in a chronic state ot "subversion,"' and the descendants ot warlike ancestors aie ever in demand to iiead revolution?.

firov. Baker

DELIVER*4" ^"T

..-.«* •waermi.., j»»^mmM«SiMKsemis@si»*.avs2'i

STATE FINANCES.

ORIGIN OF THE STATE DEBT.

Jt is a matter of history that, Indiana in 1830, under the influence of the Inter: nal Improvement mania which then afflicted her people, embarked in the construction ofa vast system of public works which soon proved to be largely beyond her ability to complete.

Bv a single act in 1830, she authorized the "borrowing of S10,000,000, for which the faith of the State was pledged. The bonds issued under' this act are known as "Internal Improvement Bonds," and although there were other bonds of prior issues outstanding at the time of the adjustment of the State Debt in 1847, I shall, to avoid circumlocution, designate all the bonds issued prior to 1847 as "Internal Improvement Bonds."

In 1841, the State ceased to provide for theflpayment of the interest on her outstanding bonds, and no attempt was made to resume the payment of interest on any portion of her bonded debt until after the adjustment of 1847. When the State suspended the payment of interest in 1841, her entire taxable property, real and personal, was less than $100,000,000, and her outstanding liabilities, foreign and domestic, were about $12,000,000. In other words, the Slate owed an amount equal to about one-eighth of all the taxable property of her entire people.

In 1845, the taxable property ol the State had increased to §122,000,000 and, at the meeting of the General Assembly in December of that year, Charles Butler, Esq., of New York, on behalf of a large number of the foreign creditors of the State, proposed, that the public debt of the State should be adjusted in such a manner, and upon such terms as would render il possible for her to resume the pavment of interest on such portion of the debt as should by the terms of the arrangement be charged upon the revenues of the State.

The result of nmny conferences between Mr. Rutler and the members and appropriate committees of the Legislature was tiie passage of the act of January 10, 1840, entitled "An act to provide for the funded debt of the State of Indiana and for the completion of the Wabash and Eric Canal to Evansville."

This act was submitted, soon after its passage, by Mr. Butler, to a conference of a large number ol the foreign creditors ol the State, held iu London, at which divers amendments were suggested and prepared for presentation to our General Assembly at its then next meeting in December, 1840.

The amendments were accordingly presented, and the result was the passage of the supplementary act of January 27, 1847, which, as I understand the matter, largely consists of the amendments prepared by the London conference, and hence the peculiarities of this act when compared with our ordinary forms of legislation.

These two acts taken together haveever since their passage been known a the '•Butler Bill."

This Butler Bill was, |U the time of its passage, only a proposition, because it in express terms provided that it should cease, determine and be null and void unless bonds of the State to the amount of four millions of dollars, exclusive of interest, should be surrendered for cancellation under the provisions of the billon or before the first day of July, 1847. What, then, was. or is, the "Butler Bill?" 1 answer in brief that it was a proposition made in the first place by a large number of the creditors of the State to the Legislature, and adopted by it, that the creditors should take the Wabash A: Erie Canal and some 800,000 acres ot land donated by Congress for its completion, for one-half of the principal of the bonded debt and also for one-half of the interest accrued thereon and, for the other half, the State was to make provision by taxation.

The principal of each bond was to be divided into two efnal parts, and for one of these halves or parts the State was to issue—upon the surrender ol the old bond—a new five per cent. State bond, the interest being payable semi-annually and the principal being payable at the pleasure of the State after the expiration of twenty years.

For the other half of the principal ol each bond surrendered, a live per cent, certificate of Canal ^.ock was to issue, and the payment of the principal and interest thereof, was to be exclusively charged upon the Wabash & Krie Canal, iffe lands and revenues, and for tho pavment of which the State was not to be liable.

The interest in arrears from 1841 to 1847, on each bond surrendered, was to be funded, and interest on tlie aggregate thus funded was to be calculated at Ihe rate of two and a half per cent, per annum from Januarv 1, 1S47, to January 1, 1853, and added to such aggregate, and the sum thus produced was to be divided into two equal parts, for one of which halves or parts, a Certificate of State Stock was to issue, bearing interest after.Imiliary 1, 1853, at the rate of two and a half percent. and for Ihe other half, a like Certificate ofCanal Stock, chargeable exclusively upon said canal, was to issue. Four millions of the old bonds of the State were surrendered under the Butler Bill, before the lirst day of July, 1847 and that bill thereupon became effectual.

If all the Internal Improvement Bonds had been surrendered, the matter would have been very much simplified for then the foreign debt, for which the Slate is liable, would have consisted exclusively of two and a half and five per cent. State Storks, issued under the Butler Bill.

The result of this is, that the foreign bonded debt of the State upon which she pays interest lias varied from year to year as old Internal Improvement bonds have been surrendered and new live and two and a half per cent, bonds were issued in lieu thereof. Every old bond surrendered decreased the number of Internal Improvement bonds outstanding, but increased the number of two and a half and five per cent, bonds issued under the Butler Bill.

In ascertaining, therefore, the amount of the foreign bonded debt of the State at anv given period, it is necessary to consider the amount of Internal Improvement Bonds, and the amount of two and a half and live per cent. State Stocks that may be outstanding and to tind the entire debt t" the State, you must of course add to the aggregate of the foreign bonded debt the domestic debt which may be outstanding at the same time and it must be remembered that we have had for many years, and still have a domestic debt.

IIOMESTTC HF.BT."'

This domestic debt has generally consisted, and still consists, of money due from the General Treasury of the State to the Trust .Funds held by the State for Common School j^irposes. and of a few bonds issued to the Vincennes University to compensate that institution for Lands which were sold by the State and the proceeds applied to the Bloomington L'ni-

liiat

«h.

nlfAAI

Saturday

*„~3

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Ii,S

Evening, Aug. 27, 187«.

The past and present indebtedness of the State being matters of public record, open to the inspection of all, may be misrepresented but need not be misunderstood by any one desirous of ki^wing the truth.

I propose in what I shall say on this subject on the present occasion, to either quote literally from the record or at least to refer to book and page for the verification of every statement.

,-i,-' ar r*~~ j--

-p Courts having afterwards de-

the Vincennes Institution was

[titled to the proceeds. Now. if any one in attempting to inform the public how much the State owed at a given time, shall take the foreign bonded debt of the State and represent it as the §£tire debt dfthe State, when there is at the same time a large domestic debt outstanding, it is manifest that he who seeks truth for his guide cannot safely follow such a leader.

Such, however, is the exact process by which the Indianapolis Daily Sentinel, in its leader of August 1*2, 1870. made the entire debt of the State in 1861, to be $7,* 770,233, instead of $10,179,267 0!^ as it really was. 11 "is a remarkable fact that the Democrats, who lrave been attempting to enlightcn the people on this subject, do not refer to the report of the Democratic Auditor of State, Hon. John W. Dodd, made two months and a half before the termination of the last Democratic administration to ascertain what the debt was when the Republican administration commenced but instead of doing this they refer to the report of the Republican Auditor of State, Hon. Albert Lange, made November 1, 18G1, nine months after the Republican administration began, to find what the debt was the previous Januarv.

AMOUNT Or SNT1RE DEBT IN

1861.

Iii proof then, that the entire debt of the State, foreign and domestic—was in January 1801, $10,179,267.09, I shall quote from the reports of both these Auditors of State, and shall show that these reports are not in conflict'but in complete harmony.

I proceed therefore to quote from the report of Mr. Dodd of thedate of November 1, 18G0, as found on page 28 of the Documentary Journal of 1S61, not a garbled extract, but his full summary statement of the condition of the foreign and domestic debt of the State. It reads as follows: Sl'MMAHV OK THE KNT1RK INDEBTEDNESS OF THE

STATK— FORCK1N* AVD DOMESTIC.

Internal Improvement Bonds out- b«#d

standing.. *393,000 00 .,

Five per cent. stocks outstanding Two and one half per cent stocks outstanding. Bond held by Board of Sinking Fund

Commissioners of Sinking Fund to pay interest, July 1,1858 :.... Indebtedness nl' the General Fund to Hie other funds us heretofore stnled

•siT ah

Hgfi W .Tj 'Vs

,322,500 00

2,054,773 511

WS:Vl,l.

1,138,219

Commissioners... Vincennes University bonds Loan trom Board of

fi6,585 00

•fVMwm '.«m -M Aft «ffj' t. ban -.Hi'/ n-« f.i

i.'

]t»,ooo on

T'-Yi V''

989,188 H5

Total *10,V9,'267 09 Now, here is an itemized statement ofa Democratic Auditor of State, showing the entire debt of the State, foreign and domestic to have been $10,179,207.09, on the 1st day of November 1860 and if any Democrat wishes to convince the public that this statement is not correct, it behooves him to point, out the erroneous items or it he insists that Governor Hammond's administration between the 1st day of November 1800 and the 14th day of January 1861 reduced this debt to $7",770,2X5, he should inform us how and when this reduction was made and which item of the debt was paid.

If the debt was reduced, and the reduction took place after the 14th day of Januarv 1801, the reduction goes to our credit ond' not to that of the Democracy, for the Republican administration commenced on that day.

The truth however, is that, no such reduction took place. The Sentinel, in the article before alluded to, says: "The amount of the State debt November 1, 1801, as reported by the Auditor of State, Hon. Albert Lange was §7,770,283."

I deny that Mr. Lange 111 the report cited makes any such statement. 1 quote what he does say in his own words on page 205 of the Documentary Journal of 1860—01 and you will observe that he says the statement is fur nished by the Agent of State, and it is well known that the duties of the Agent of State are confined to the foreign debt and he could give 110 information in relation to tlie Domestic debt. The language of Mr. Lange's report is as follows, viz: l'tJBLrc DKBT.

The following statement of the condition of the public debt, is furnished Indie Agent of State:

BONDS SURRENDERED:

There were outstanding on the 1st day of November, I860, us heretofore reported, 39." bonds of #1000 each There have been surrendered since that time two bonds of $100(1 eaeh

', rsKUton oo

!.000 00

Total outstanding Xov. 1,1801. $391,000 00 FIVE I'ER CF..NT STATB STOCKS. There have been issued on account of bonds surrendered un to the 1st day of November -j% 1800 5,322,oOO 00 There has been issued since thai time on same account.. 1.000 00

Tulii 1, ov. 1,1860 5,323,000 00 HV0 AND A HALF PUR CENT STATE STOCK. There had been issued on aecount of bonds surrendered up to the 1st day of Nov., 'fid 2,054,733 50 Th«"re has been issued since that time on same account. .. 1,000 00 Tola I, Nov. l.ltWO 2,055,733 80

Now, let me place theae three items in juxtaposition and add tlieni together, which Mr. Lange does not do in his report, and the result will be?7,770.2o.°».50, tlllis: Internal Improveinent bonds 91,OOOOU Five per cent" 5,323,500 tin Two and a half per -id cgnis 2,(l5-:»,i.»3 50 ..

i'otal foi eigr bonded debt, 7,770,233 00 Now, if we turn back to the summary statement before quoted from Mr. Dodd's rejiort, we lind that he reported the foreign bonded debt of the State outstanding November 1, 180(1 as lollows,-viz:

393,(100 00

Internal Improvement. bonds Five percent"... Two and a ha If per cents

5,322,500 HO

2.U54.773 •'.()'

Total i. 7,770,273 f.0 A difference in the foreign bonded debt of the State as reported by Mr. Dodd in 1800 and Mr. Lange in 1801, of only loily dollars, showing conclusively that, the Sentinel left out^ofthc calculation altogether the Domestic debt of the Stale outstanding November 1, IMiO ot ^2,-108,-. 5)95.59, consisting of the Vincennes University bonds....

fj S

I'"

The bond held by the Uouid "I .Sinking Fund Commission ers for The loan from same lioaid to pay interest in July, 18 8,.... .. And the indebtedness nl the (leneral Fund to the other

1,ISS,2)9 iii

ll^i.l.lOd Oil

\9S9,1S8 9",

The wav the last named item occurred was by the Democracy adopting the financial svstem of Wilkin* Micawhcr as improved upon by the female Micawber wife of Wilkius aforesaid.

Wilkins, you know, to replenish the Micawber Exchequer always relied upon something "turning up," and when the starvation point was reached, his faithful Kinilv, who never did and never would desert him, always insisted on his turnimj something -up, as for instance, drawing a bill and selling it at any sacrilice.

The Democracy improved upon this device by turning up the Trust funds when ever they wete short, and taking a •dice and charging it to the General Fund Thev seldom however, had grace enough to give a bill or an I. O. I\ for the amount appropriated, and when they did they failed to pay tl ,e interest.

the Republican State Adinin istration was inaugurated on the 14th day of January, 1861, the entire debt ol the ^tate, foreign and domesti1, was. And not ...

810,179,207 09 7.770,223 50

3T "5 J'-NB®' i.' I'/ ~'£^l£EGS33STr

And that the miarepresentation consists in omitting 'A," ,: altogether the domestic debt, which then was 2,408,993 59 INCREASE OP DEBT BY THE NECESSITIES

OF THE *VAR. gfl

To start with thon, the RepublicanB in January. 1861, succeeded to a debt of..' To this should be added the war loan bonds, rendered necessary, by the warrant! authorized by the Legislature at its special session in 1851.. Add also, Indiana's portion of the direct, tax assessed by

$10,179,2(17 09

Congress in 1862, which was assumed and pnidby the ltepublican Administration without any fresh levy on the property of the people

ikj

904,815 33

Total I 13,084,142 42 By these additions, we see that the 11ccessitiea of the war increased the State liabilities in 1802, from S10,179,2t)7.09 to §13,084,142.42. AMOUNT Ol" EN'TIRi UEBT JCLV 15, 870.

The question remains to be answered how much of this large indebtedness. has been paid off and how much thereof still exists? In answer to these questions, 1 state that, on the 15th day of July 1870, the account stood as follows, viz: Five per cents outstanding 1,115,197 33 Two and a half per cents outstanding "'•il0?,'5 War loan bonds 204,000 00

Total of foreign debt on which the State pays interest 1 4i To meet this, we have on hand in the Treasury ot the State

999,029 77

Iebt,Sinking Fund Commissioner belonging to.tl^ State

Balance .'W5,28tj 09 To meet this, we have Trust funds, which may be applied by law to the redemption of this balance, amounting to $500,000.00 and, to reimburse the sum which may be temporarily borrowed from the Trust funds, we have the Slate Debt Sinking Fund tax for 1870, now on the duplicate which, judging froiu the result of last year's collections will yield $640,000, and will repliice the Trust funds so used and leave a balance of $280,000, which can, if :he Legislature shall -see proper to recognize them as a part, o'f the State debt, be applied to the redemption of the 194 Internal Improvement, T.onds still outstanding, and amounting exclusive of interest to $194,000, or thereabouts.

This disposes of the foreign debt-of the State and it only remains to slate the amount of our Domestic debt. It i». as follows, viz: Vincennes University Bonds...$ *•', 85 1)0 Due School Fund for which non-negotiable bond has *sj been issued payable thai

Fund with interest payable V-jjemi-annually 3.5-l,Mt) Amount due same Fund liir which no Bond has yet been issued 7.70t? 0»

Total Domestic Delit 3,(S2,I01 lBy way of recapil !a ion the tifcuiv- m.iV l-c stated as follows, vr/ Entire debt inherited by the .Republican administration in 1801 from their predecessors •.•••$ Increased by the war in 18o2,

111,17.1,207 I

Foreign Debt in 1870, iaid or provided for as before1 sl:tted, leaving d'Hiiistic dehl due Deduct 111i:: trom lb" li'l'iii tie» nf

lie

lie ill

f.il'u .-latcl. .. .... And you liav" a l"'-.o.iV'' iiilflioti l.i llic lialiili'l iec ot the Slate Miu'Cliit.' ai.M-c.-cioii nf the Hcpiiiilii-aii adliiinis

I i.ii in IH'.I, ol ...'.'.V.

I will here state what I ought to have stated in another connection, that while the Republicans have wiped out the foreign debt as before shown, they have, in doing so, only added SI,271!,007,50 to the Domestic Debt. For the Domestic Debt was, as before stated, on the 1st day of November, 1800, $2,41)8,093,oil, and it is now $3,082,007,15, being a difference of $1,273,007,50, j, SPF.CTMEX OF DEMOCRAT!'.' K1NANI,'EKR IN(i

Now, in contrast with this, look for one moment at a specimen of Democratic financiering:

In 1852, the Democracy did, as the Sentinel claims, provide for the levy ofa tax of two cents on each hundred dollars in value of the taxable property of the State, as a sinking fund for the redemption^of our bonds. The proceeds of this tax were to be used in the purchase of the bonds of the State, mid these bonds were to be held by the State Debl Hoard of Sinking Fnnd Commissioners and the interest thereon was to be collected from the State and used in the purchasing of more bonds and by this process the Democratic administration had up to November 1,1858, redeemed J?3!»L810, of the .State Stocks.

Now what do you suppose became of the stocks so redeemed? I think hear all say, why of course thpy were cancelled and that was the last of them except that they were held by the State Debt Board in their cancelled condition so that they might collect the interest Iroiu the State on them and with this interest take up other bonds.

No such sensible disposition 1 assure you was made of these redeemed bonds. What, then was done with them'.' 1 fear if I should tell von in my own language, vou would think I was attempting to burlesque my political opponents, and 1 will therefore adopt the language of the Democratic Auditor ol State, Hon. John \V. Dodd, in his leport ot November 1. 1859, which you will find at page 93 of the Documentary Journal of 1859—(50. "These stocks"-.-.-ays Mr. 1'odd. -have all "been sold to defray current expenses and to meet the semi-annual payment of interest due in New York on the 1st of .1 illv last."'

This beats »n\ thing ever achieved by the Micawber family in the financial line: I 'ulliii!.' lie icdeenied bonds of I he Si ai a i'a on I lie ma ket a fid sel ling ihetil niliiiiul atilhoriiv i.I law to raise liinils !o pay the salatics ol lliesc hopeful officials and to pav I lie mere-1 an I he ol her houd-i oul.-'landing I

Wa. not his luriiiug otuei hiug up wiili a \en^eaiiee? And yet ihese men are io dav ihe howling champions of financial u-mhii. No Wonder that such financier.- are ill favor of issuing Iburleeii or til'lcen hundred millions of non inteiest hcai ing Greenbacks and tendering them to our creditors for a like amount of interest hearing bonds. Surely, if a modern Confederate Democrat cannot lilt himself up by lln- straps of his hoots, no one elne need try the experiment.

Lut, the cream »t ihe joke has not yet been related. I have given vou to understand ihat, after eight vears of financial labor, the Democracy, in 185,had actualv suceoded in taking up State Stocks to the amount of $391,810.00: and I hat they then put these same Stocks on the market and sold them to procure funds to carry on theState Government and to pay the interest on the bonded debt ot the State, but I have not told yon what sum these Stocks were sold for.

I now inform you that these Stocks, amounting to S391,810—on some ot which interest had run from January to April, and others from July to October,— were sold for the magnificent sum of §207,101.97!

For the proof, I refer you to the same Documentary Journal, pat 75, and to the records of the Treasurer's office to show that apart were Hold in April and the rest in October.

.^The Republicans have, *after paying interest on them for some ten years,again redeemed theso same stocks by paying par for them and we promise ypu tliat, theystwll stay' redeemed thb time, unless you entrust them to. Democratic officials, in which case you had better take out policy against accidental sg 1 NLARGEMEXT OF BENEVOLENT ANT)

OTHER STATE INSTITUTIONS. In addition to reducing the liabilities of the Slate nearly nine and a half million of dollars and placing the comparatively small amount still ^outstanding in such a condition that it .practically* amounts to no debt at all for—we owe it to ourselves and disinterest we nay on it is expended in tnc cducatiofi of our own children,—the -Republicans since 1801, have expended more than a million of dollars in increasing the number and enlarging the capacities of your Benevolent Institutions iu building lveformatories and other State l!uihlings, and in the construction and completion of the Northern Prison.

The Democrats turned a de^f ear to the command of the Constitution v.hich says the General Assembly shall provide Houses of Kefuge for juvenile offenders but we have executed it by providing an Institution at Plaintield which- now shelters nearly two hundred boys, most of whom would, *ut for its saving influence, grow up •_ to become a terror to the lovers of goo& oi*dy and ulcers upon the body poli®.

We have prowled Lhe Soldier's and and Seaman's II-. ie at Knightstown, in which more than three hundred soldiers and soldiers'orphans arc cared for and educated by the bounty of the State.

We have provided the State Normal School at Tcrre Haute, which I predict will ere long be the crowning glorv of our system of popular eduoajLhui and we have by liberal appropriation placed the Slate I'niversity iu a position far in advance of anything it ever knew under Democratic rule, and we are now erecting a Reformatory for Women and Girls, which will soon relieve the State from the terrible odium of ending women to the penitentiary.

We have doubled the capacity of the Hospital for the insane enlarged the Institution for the-Deaf and Dumb, and erected a suitable building for the State oliices and Supreme Conn, and all ibis without the suspicion of a fraud in the contracts or disbursements. ...

Of course tiie current expense.-, of these new Institutions, and of the old ones enlarged, and the increased cost of Mipplif and subsistence over the last Democratic docade, has made a corresponding increase in the public expenditures biit thanks to the good sense and public virtue of the people of Indiana, they do not object to any increased burden which the progress of lhe age. may demand, pruritic! the proceeds of lhe faxes imposed are honestly applied to the jnirpo.es lov

which

i: ,iK4,M2 97

£2,0(11 l.r

UI2

The small DofitV'-'.'i'fc'dcl^ li!L out sanding with tin- t'xc.'p! inn ot llic 11iciMilies I'niversitv limoU which only iiiiiniiiit- to S« :,5S5, the Mate owes to Iter «iu School ftind and the iutere-i paid liieivoii by llic people is returned to iheiu by being apportioned semi-annually amon the Counties for the education ol their cJiildrcn.

In the face of such a reeprd as I hi-, men inav deny that there has been any substantial reduction of the State debt, just :is Mr. Voorhees denies thai there has been any reduction of the interest hearing National debt, by General Mrant's administration hut candid and intelligent men will know how to appreciate such denials.

they are coiiiribulcd.,. ,^ common sciiooi.s.

•'"-Again look at the jje.nj!.e- Colleges, our Common1«'kkk Schooi-s now as compared with ISCo. The State is to-day dotted over with nearly- nine thousand school houses,—the exact number is 8,000 —or iiinclv-four on an average I" each Connty. in 1800, the Stale School fax collected was $:'.ST,920.27, and the entile revenue for that year which 'ought to have been distributed to the Counties according to the number of children in each was $998,338.24 bnf, the amount actually distributed was only $5-!.4,980.90, or a little tuore titan half the amount collected and", although "the Constitution requires the income of our School fund to lie sacredly applied.Iw the education of the children' of (he S|:i!e, the Democracy had other uses for it and therefore, they re tained in the Treasury lor Ihe hcnclil of

Democratic officials, the snusr sunt of $454,357.2-1, which in law and conscience belonged to the children for the procurement of.their intellectual daily bread.

In 1809, the School tax collected was $987,503.41, nearly double that of 1800 and the entire revenue collected and subject. toapportionrnent among the Counties for Scliooi purposes, was $1,496,388.35, and the amount distributed was $1,489,052.92 the distribution falling short of the collection only $7,325.43 and the reason why this small balance was not apportioned, was that it could not be done without dividing to each child the fractional part of a cent the division stopped with cents and was not carried down to mills. in 1800, the School fund proper, was $0,040,054.00, of this sum there was productive $3,184,202.00, leaving unproduc tive $2,802,392.00, or nearly one half of the entire fund.

The reason of this was that, the Democratic officials applied the School funds toother purposes, thereby making the General Treasury of the State debtor to this Fund, but they failed to provide for or pay to the School fund interest on the sums thus abstracted and this interest never was made good to the School fund until the Republicans did it after their accession to power,

Thev now boast thai their interest account was small in 1800, as compared with the interest account now considering the indebtedness of the State at the two periods, well it might be when they practically repudiate the inferest on S2.-342,-108.59, which they had illegally abstracted from the School funds.

Now under the pretext of reform they propose.'to restore thesame piraetical crew to the command of your educational ship.

In 1S09 the entire School fund of the State was $8,350,308.09, all of which is productiv^except $003,037.No,and nearly all of this is ina condition to be made productive as soon as (lie Legislature shall provide for its investment. 15ut it is charged thai, if the results of Republican administration in this State are as we claim them to be. these results have been accomplished by she mosi enormous taxation accompanied by ihe most ifstoiinding extravagance.

To prove this, the Seiitiivl in' Ihe arliele alluded to. instituted a comparison of the ordinary expenses of the Slate government, and also, of lhe amoiiiil ol taxes assessed during ten years ol Democratic rule and a .similar period of llepublican Yule.

You mav judge ol lhe value and trulhfulncss of these comparal ive tabular statements when I inform vou lhat the year 1800. the last year of flu W'illai d-1 laminond administration, is set down iu the-e Iving tables as lhe first year ol Republican rule. i-'.very hi idy, except I Lie managers of lie Sentinel, knows lhat Governor Hammond retired from oflice, and Governor Henry S. Lane succeeded him in January, 1*01 and the year 1800 :is. therefore, a. year of Doniocralie rule, which we utterly decline Io have nhoved over on lhe llepublican decade.

I commend ihe Sentntel, however, ior its anxiety to get rid ol' one year of had government but. assure it that the attempt to how that Governors Willard and Hammond were Republicans in ISOO, must fail even among the mo-! ignoran! of Democrat -.

The "ordinary expenditures of the State Government properly includes the expenses of Legislative, Judicial and Fxeentive branches of the State Government disbiirsements, made on account of the Benevolent in.-'.tilutfon. Prison*, Reformatories,. iSc.. «!ic. but do not include payments of principal or interc -l on the Stale Debl. in the Sentinel'-cables on this subject, the Democratic administration trom 1X51 to 1859 inclusive, is compared with what is pretended to be ten years of Republican administration from 18(50 to'18(59 inclusive.

We turn back the year 1800 to them and for it claim a credit for $110,070,85, the amount charged to the Republicans as the expenses of that year.

Charging this year to us the Setihnei foots up the ordinary expenses of ten

years of Democratic administration at $1,145,329,56, and ten years of Republican rule at $2,059,963,5S, making an excess for Republican over Democratic rule of $914,634^)2, or$91,403,40 of an excess for each, year.

Now. as ihere. have not yet been ten years,of Republican administration, I propose to rednce the comparison to the' last nine years of Democratic rule and the first nine years of Republican. To do this we must deduct from the Sentinel's Democratic tables theyears 1850 andl851, the amount charged for those two years being $155,425,46 this deducted from the $1,145,329,5G, and. we have according to the Sentinel's own "figures. $989,904,10 as the ordinary expenses of, Democratic jule for the eight years commencing with 1852 and ending with 1869. Add to this for 1800, the "ninth year, the sum of $119,070,85, and we have $1,109,580,95 as tlie ordinary expenses of the State for nine years from 1852

tlo

1SG0 inclusive, under"

Democratic rule. According to the Sentinel's

figures

have, as before stated, $2,059,903 58, as the cost of Republican rule for ten years from 1800 to 1869, inclusive: deduct from this for the Democratic year 1800, the sum of $119,070 85, and we have, according to the Sentinel's own figures, $1.9-10,280 73, as the ordinary expenses for nine years from 1801 to 1809 inclusive.

But in this sum the Ssntind litis charged the Republicans with $505,920 92 as ordinary expenses which were in point of fact, interest paid on the Domestic Debl of the State, as follows, viz: For 1SR7, 100.82(5 73 For 1868 '2112,024 02 For 1««S 213,075 97

Total for three years •='H0,92» 72 deducting then this -.J/ ft3,92G 72 from the previously charged. 1,940,'286 73 and we have ,374,359 81 as the actual amount of I lie ordinary ex penscs for nine years of Republican rule from 1S01 to 1809 inclusive.

Now if we take from tbi:j sum the $1,109,580.95 ordinary expenses of Democratic rule from 1852 to 1800 inclusive, we have as lhe true excess of Ihe Republican over the Democratic period only $215,379.80 or $23,930,09 for each of the nine years a sum much less than the increased current expenses of the Benevolent Institutions and Reformatories consequent upon the increase of population and the increased number of inmates in those Institutions.

To prove that I am not. mistaken in saying that the Sentiml ha* erroneously charged tiie Republican administrations with $565 92G 72, as disbursed for ordinary expenses when that sum was really paid as interest on the domestic debt due to the School Fund, I read the following eerfijicafe from I lie Treasurer of ^tale.

.^pati: or

Indiana,

poses

oki-'ickok

Trkasorkii or STATI:. m.

iNfltANAI'OI.T'-'.fAugUSt 22, 1870. 1 certify that in the item of $103,880,37, stated in the Report of the Auditor of State for the year 1807, under the bend of "Disbursements,— h'diiiarv Kxpcndi-l.ure-,"—to have been disbursed on account of "t leneral 'und,'' included $lo0,820 73 interest paid

:on

the DomesUc

Debl of the State for said year 1807: that a similar item of S233,f»77,Hi stated in said Auditor's Report for the year, ending October :!1, 1S0S, under the same head as a disbursement on account of "General Fund/' included $202,021 92 inferest paid on the domestic debt of the State for said year 1S08 that a similar item of $231,109 31, stated in said Auditor's report for the-year ending October31,1S09, under thesame bead as a disbursement on account of "General Fund," included $213,078 97 interest paid on the dome-tic debt of the State lor said year, making together the --uiu of $505,930 02, so paid as interest. [Signed], Nathan Kuiuaj.l,

Treasurer of State.

So much for expenditures for ordinary purposes under Democratic as compared with Republican rule. ,«• 'o I

ilMl'AIiATI VI" 'i'A .\'.\tt/)N .'

Nov/ look at the subject of taxation as represented in the Sentinel iu its issue before mentioned.

It lirst gives a table of the aggregate amount of taxation for each of the vears 1850, 1S51, 1852, 1853, 1854, 1855, "l850, 1857, 1858, and 1859, which it. calls years of Democratic administration and, looting up these aggregates, produces for the fen years named, $25,077,820 10, as the sum'total of the taxation for that period. It then givea us a table of the aggregate amount for each of the years 1800, 1801, 1802, 1803, 1S04, 1805, 1S00, 1807, I SOS and 1809, which it calls years of Republican administration and footing up these last, mentioned aggregates produces for the ten years from ISOO to 1.809 inclusive, $87,5li,930 24! as the grand total of the taxation for the last named period and deducting the former grand total from the latter, it states as the increase of taxation under Republican rule the sum of $02,43-1,107 14. After stating these as the results of the comparison, the Sentinel uses this language, viz: "Admitting the State debt to have been as claimed by Governor Morton, $10,179,207, when the Republicans came into power, in 1801, the increa.se of taxation alone, under Republican rule, would have paid the debt more than six times over, and vet the Republican leaders set up the claim of retrenchment, economy and honesty in the administration of the State government."

Of course this is intended to convey I he idea—without in terms saving .«o— that the increased taxes levied lor and applicable to State purposes since 1801, over and above the levy for the same purposes for the ten preceding years ol Democratic rule, has been more than sut'licienf to pay the State debt six times over. The Itejuiblieaiis lire charged ,r with an increase as already stated of. 2,4.'.f .lot 11 AVilh the Sentinel'* permission. we will claim a credit for lhe iH v! amount charged for the year ,,• l.soli, that year In-longing to the f'ossiliferous Democratic period. The amount is ... This will reduce the charges to Wo beg tb- Democracy to allow u« another stunII credit for the «i amount of tuxes assessed durmotile remaining nine vears by the counties for county pur

r,7:vii. 4,471.12b

"•7,'|i'2.',77

and Willi which the Stat.-

administration had no more to iilo than it had-in lixins or disbursing the t:iscfl_ in any coiiu (y in Kentucky. These cimiiLy (.axes are 21 .-ft l,'2os !7 This deduction leaves the balance JO/jlS.itlS SO I hope it will not be immodest in claim on tho part of tho He- tiam-e pueliean Stnto administration .frai a credit for the amount ot road LA* lux assessed in the different townships and road districts ut' tho State during said niue •,}$ years f'r local road purpose*.

This road tax amounts to 3.747,fiii-l 01 Take this from tic- balance be

fore

stated, and we have the

balance reduced to SO From this we ask to be dedueled ,-£ji .:• a? a credit the township tax*** r" assessed for the same nine yenrsfor township purposes I. i7i',f0? 90

,i j.

This leaves tho balance S3(i,7ui,-"i}s $-1 From this we think it unite r' asonable to elnim on behalf "C the State administration a deduction of the special School tax, as wo do not exuctl.v see how the State officials can he blamed for not applying the taxes raised by ffie ^-cbool

The-'

o-ii

Uiatricts of the several cuiin tics ot'tl'0 tftfiio to buiM scuuul hou*e= to tho payment of 1 h«Stato debt. This special school tax annum!:" to

n,o7o,5

liab.ti.e £24,7N.!K2 t7

that ttu"dog tax winch ia __ applied by the local authorities

the several counties for pa jfor sheep that may be killed dotr?, may also bo deducted. It amounts for the nine years to the sum of (17,'.KK) li|

Balance S2I,otV..f 2 17 I ho"p« that the Democracy will not insist that lhe gravel road lax uuffht i' hiivo been applied ,v to the payment ot the fctat" jj.v -r debt, and, therefore, 1 humbly,,,,.^

BSpsw^-.-i

beg that it may bo deductod. amounting to

Balance

881,750 00 !.1Vi OS

From this deduct railroad taxes as?os8ea by counties and town

efiips

to aid in the consrructio

»t2,7t5 11

of railroads runnias tnrtni^l their borfiors.....ti...i—rrr"*"

.. p. Balanoc A....'*. ......! From this balance aeclucLufc«r* local taxc-:

--,*$2,11)7 '.If

2 0$l,'210 15

Balance -Slf.Ml From this deduct delinquent taxes not collected but carried

forward on the duplicate from year to yrar,and looting ui for the nine years H.tiM.-lno II

Balance LS 8,S:»5,!i57^ From this deduct bounty tu.\»9

•Kwaws---*--"j"S-'»• ti Balance •l.i'iV.tHS 30 From this deduct soldiers* relief l'und tax, assessed for relief ol soldiers' families, and whic

remained in county treasuries and was disbursed by county authorities S 1,85(1,411 Iti

Balance $ :!,O|-2.ftS0 From this deduct library tax to replenish township libraries..'.! 'i'.O.tiSO 4!

lJa lance

3 U.tiUv'KiS: Til

From this deduct local corpora tion taxes carried on to the grand levy as reported in the reports of the Auditors of

mitcii'

State for said nine years,' amounting to W.274 S-'J

lialance HLJ 2 8 6 0 1 1 8 $ 6 This leaves only *2.800,113 !(0 of the excess or increased taxation with which the Sentinel charged us and '.o meet and overcome this wo have the nchool lax proper amounting to $7,200,7-'9 00, which, although a State tax, and paid into the State Treasury, was immediately distributed back to tiie counties according to number of school children in each, for the purpose of carrying on the free schools of the State. r' hope the Democracy will .excuse us for not having imitated their example in applying these school taxes to a purpose different from that for which they were collected.

Thus you see I having effectually disposed of the Sentinel'.: sham tabular statements, as to the increase of taxation tinder KepubUcaVt as compared with Democratic rule,

AGENTS OP STATU."

Aow let us give a little more attention to the financial lame ducks of the Indiana Democracy. Look ft1"ii moment at soirte of their Agents of Stale.

Our wealthy townsman. Captain J. M. Lord, retired from bat office in tiie beginning of 1850, 1 believe. If t'oloncl Norman Eddy, the present Democratic candidate for Secretary of State may be believ-ed,-Mr. Lord, upon his ivtircjm-iii -f rmii oflice, forgot to pay over a balance of funds in his hands belonging in ihe Siaie, amounting to :-](l.3-0 8•. Ly a ,j"int resolution pa-sed by I ho Legislature in ]s."!l, Norman Kddv, John j'. Llliott and William T. Otto were appointed a. committee to investigate and report as to divers claims supposed to be due the Stale from sundry persons. In the report of these Commissioners*, which you will lind in the Documentary Journal ol 1*01, on page 250. it is said thai, upon their calling Mr. Lord's attention lo the iact that.the books nf (he Auditor of State showed (hat he owed this amount he expressed the conlidein belief that the sum charged to him was t(,io much, and asked for time to inalce au .examination, which be said would have to be made in New York.

The Commissioners gave him time without objection bnf when the.Commission niei. again months afterwards Mr. Lord had made no investigation, "and concluded to settle at the figures shown by the Auditor's books, provided he could get time, and this being granted, he executed to the State hi,s three notes with'security, each for £3,005, payable at one, two and three years with interest :nnd it is due to Mr. Lord to say that he paid these notes al maturity. Hut tin* complaint is that Mr. Lord, by wrongfully applying the State's money to his own use, coerced the Stale to grant him a long loan at a low rate of interest ut a time when the State officials were selling the redeemed bonds of Ihe State at two-thirds of their par value to get money with which to |*iy the interest on the lorcign debt of' the Stale and to carry on the Slate government. If the credit of the State was so low, and the reputaiion of the administration so unenviable that it was iieeessurij to sell the redeemed bonds ol 1 lie State at two-thirds of their par value to get. 'money to carry on the Slate government, surely the State was in no condition to lend money to the Democratic ex-oflioiuls on one, two and three years' time at six per cent, interest. It wns, however, just because such transactions passed for orthodox Democracy, and were common, that the State was as destitute of credit as il was possible for a State to be.

Mr. Lord was succeeded in the office of Agent of State by Colonel James A. Cravens, who had for his deputy D. C. Stover, an Indiana Democrat hailing from the county of Montgomery. Mr. Cravens resigned, and Governor Willard appointed this man Stover his successor.

STOVKR l-'KAl i's.

In 1801, Colonel K. N. Hudson was elected as the Republican successor of Stover, and soon discovered that he (Stover) had fraudulently issued a large number of live per cent, certificates of Indiana State stocks. Mr. Hudson used every effort in his power to get these stocks surrendered by the holders to whom they have been hypothecated for Stover's benefit, so that they .might be cancelled without that injury to the crodit of the State which the public knowledge of their issue would be fnre to involve. Colonel Hudson succeeded in securing and cancelling about a million and a half of these fraudulent, Democratic, Stover bonds but the public having got information of their issue, no more of the fraudulent bonds could be procured for cancellation the genuine stocks of the State were excluded from the New York Board of ISroker-, and Indiana five per cents fell from ten to twenty per cent. Some weeks ago, ill a short speech which I made ut Tipton, 1 slated the amount of these fraudulent issues at S2,300.0'H), and I was afterwards informed thai a Democratic official of'Tipton county had ottered to bet a Republican SIOO, thai had not told the truth in that regard. I am glad that mv Republican friend did not take the hef, for I had not really told the whole. truth on lhe subject. I now amend the .statement and give the amount of these issues as having been about S2,-l l(),(.i(10. and quote as ntv authority for the statement, the'report of Hon. Joseph hi. McDonald, which will be found iu the Joura re at iv the Regular Session of IS05, commencing! on page 013. The General Assembly at its session in 1 s(i: passed a concurrent! resolution authorizing the Governor, Auditor and Treasurer of State to appoint a commissioner to investigate the=e fraudulent issues and to procure their surrender and cancellation. .Mr. McDonald was appointed under said resolution, and reported governor Morton in January. 1805, and ij lo this report that 1 refer. at page (45, of ibe 11 ousts ready cited, in speaking of these fraudulent certificates of sioCk, Mr. McDonald says, "thev were simply forgeries,"having been countersigned in the name of an Agent of Slate not at the time in office, :tnd were Issued alter the repeal ot the law authorizing the use of the blanks which were filled up."

reform a-s any Marion county

lett, to be indictcd in the city of iNcw York and, to render the Democracy ol the entire transaction unrpiestionable,. ajl Democratic New York Court

|iia.-died,:

the indictments on the ground that it was no Ollense to forge Indiana certihcatcs of stock in New York. .TWIN "'. W'ALKKK.

Oolonel Hudaftn was succeeded iu the.,. Agency by Colonel John C. Walker, whose labors in the dissemination of Sunday school literature have K'ven him a notoriety continental in it» proportions*,^ His labors in that department of the. Democratic vineyard made it incony. venient for him to be at Indianapolis at the session of the Legislature commenc-inc-in January, 1805, and hence we haveiil no report of "his official proceedings iu^» Agent of State., All that we know about *1 have already shown by quoting from Mr. McDonald's report that this transaction on the part of Slover was a forgery,pure and simple, ihe offense having, however, been committed in Xcw York, the'oflenders could only be prosecuted there. Clovernor Morton accordingly caused Stover and bis confederate, Hal-, him is derived from statements of hi% Republican successor, Judge Buskirk, made in his report of November 1, 1800 —Documentary Journal, 1807, part I, page 4. Judge Buskirk, after saying that he took possession of the Agency on the 21st day of February, 1805, uses this language: "Col. J.C. Walker, my predecessor, was not present in person to deliver to me the possession of the office, but was represenied by his brother, Mr.

James Walker, who paid over to me the sum of $11,832 7(f. This he represented a« the amount due to the State trom Col. Walker after deducting ten thousand dollars for two years salary and the expenses of the Agency. As 1 bad no means at the time of ascertaining the true condition of Col. Walker's liabilities to the State, 1 declined to give a receipt in full, but rcceiptcd for the amount paid over.''

This exhibits a new Democratic short hand system of book-keeping as far removed from everything like red tape as it is passible for such a transaction to be Instead of drawing his salary and expen-u through the accounting officers of the State,°he dispenses with all such old fogy formalities and audits his own accounts and retaini, out of the funds placed in bis hands for an entirely different purpose, his salary and what he himself decides to he right for expenses. This system ot accounting lias this advantage, that then* is no roam for over :iny purti(?ular item, there being but one item in the account, viz: -V 10,00'J for salary and expense-. I think it probable the Marion countv Reformers had Colonel John

Walker'*improved system of book keep inn and accounting in view when the a.lupied the exceedingly sagacious plan of icplciiisliing the county treasury by requiring the county officers to donate to the countv all of their lees that they shall not need themselves. If Walker was here, I have no doubt he would be a reformer and support the ticket. In 1841 an old gentleman, a. member of the Legislature, who was anxious ^i iclie.ve the people of the State of the pecuniary pressure which then rested upon them, introduced a bill into the House of Representatives proposing to issue to the people a sufficient ijiiantitv of State scrip to enable all the people to pay all their dubts, and every man was lo have ju*i •is much as he needed and no more, and if anv one took mole than lie needed it was to he a penitentiary oflense. The Reformers, when they are elected, are to pay over to the CoiirtHouse fund all the fee- which they do not need, and ii they keep more than they need, thev are to be visited with the displeasure the Democratic parly.

I have glanced at the otiicial tidelity of the last three Democratic Agents of State, and 1 invite tiie Democracy to search the record of the Republicans who have held the same otiiee for any similar instances of malfeasance in oflice. Colonel Hudson, Judge Huskirk, Judge Gresiiam and Judge Slaughter have all held the •position, and it i-i only by comparing official action that a just judgment can be formed.

CLOSING OK i:i-:.\EV01.1-:NT lN'STlTI'TInN'S. Some of you may, perhaps, have torgotten anofher transaction in the history of the last Democratic administration which not only manifested an utter disregard of the financial interests ot the Slate, but also involved a crime against a large number of the unfortunate classes of her people. 1 allude, ol course, lo the closing up, iu 1S57. ot the Hospital for the Insane, the institution for the Education of the Deaf and Dumb, and that for the Education of the Blind. No appropriations were made by the General Assembly for the support ol these Insti tntions and, under lhe pretense that, tor lack of such appropriations, they could not be continued in operation—their inmates were dismissed and thrown back upon the counties and families liein which they came, in utter disregard of the anguish involved in the execution of so cruel a. policy. Tlii be it remembered, was done in April, 1857 and, as it to demonstrate the folly and wickedness ol the course pursued, and to give the lie to the pretext under which the enormity was perpetrated, without anv intervening session of the Legislature, and with the same lack of appropriations which existed when the Institutions were closed, their inmates were invited back and iuSepfembrr, 1857, the Institutions were again opened and continued in operation!

MISAPPROPRIATION SCHOOL FFNIIS. Again, look at your school funds under control of W. II Talbot, Ls(p, late Chairman of the Democratic State Central Committee, and l?lte President of the Board of Sinking l'und Commissioner*. These funds were, by the Constitution, sacredly dedicated to the cause of common school education, and Mr. Talbot had no more right to take them to the city of New York than lie had to take them to China. He did, however, transmit them lo New York City to be used in gold gambling during the war. Your school funds lo the amount of £l33,2Sl,14 were used in belling on the success oftheie hellion, for that is just what operating in gold meant during the dark days of the war. Hut Grant pummelled the life out of the rebel army, and the Confederacy wen! up, and four School Funds went up with il. After live years of effort on the part of the Auditor of State to collect a portion of the claim out of collaterals assigned lor that purpose, and by prosecuting divers Jaw -nils (he amount, including principal and interest, was reduced, in Apwl last to S81,811 00, and it wi$* then closed by the payment of $1-1,811 00 iu money, and by giving -even notes well secured of S 10,000 each, running from one to seven years, and bearing interest at six percent, per annum.

Tims, you see, another forced loan has been levied, no! upon the Stale, but upon her school fund, by the Democracy and. iu the absence of accidents, the .school fund will be reimbursed at the end ot about twclve vears from the time oj the misappropriation of the money. --V.- Ml' LAN I'-. int time would fail nie. if I should at-

In this ivpoi'l, tempi to discover to your admiring gate loin nal al j'

Mr. McDonald Micceedcd iu getting quite a number ol ilicse fraudulent certificates surrendered for cancellation but, according to his report, there'are still out- p„i, standin" certificates to the amount of' 'he State nor the upciine S7X4SW. Stover is still a Democrat in I«'f net.oi, has di-cvercd or lepoitcl good'sttuiding, and as much in, favor of,

the Democratic financial gems which Are buried in the political literaiuie "i the Democratic period. I can only allude to the swamp laud swindle, it:real ditehct" and "mi'irotorii lontructs. nnl general knavery. Governor right ctimated that the swamp lands, donated bv (.Hit* Siittt' \u.iilt! it?lu the School Fund at least $I,UOO,OOU. They did prove to be a gpod thing lor the De-. niocracv: but iT the School lund was ag ever enriched thereby to the amount ol a lollar, neither the accounting officers of

Democrat

|lftW in it

buM I.

dare to be. I iif, N'! tfijd

-''ll

i"'"

of August