Indiana American, Volume 6, Number 49, Brookville, Franklin County, 7 December 1838 — Page 2
Governor's message. . Gcnilcmehrif the Senate vn& Unite if Representative: You Kavrt been Rent up to this p'.ice hy the people of Indiana, charged with
.he exotuiion of most important trusts. The gtbat interests of the itale, ho hvy dvil ot political, arc almost exclusively 4i yoir keepinp; and never before 1 .peatfit advisedly never before have you Witnessed a period in our local historythat, more urgently, called for the xercise of all the soundest and best vttlkii!s r.f ptavr and patriotic lullisntors, than the present. Jxt rente prufVnce and foresight, frugality and -nri. .1 nnl nnnrri nrnnait. iyuiiiui H y I 1 ' -'less ana trsevercnce, should unques tionably- mant tc whole tenor oi jour i-iiare acis nun legislation ; lor 11 13 11 v ihese only that success can be insured ,t. cur splendid enterprizes a speedy 5 j.nd adequate realization of profit to ur many burthens and expenditures, -ad above all, an unabated confidence ia our own ability and resources. The truth is and it would be folly fo conceal it we have our hands full full to overflowing! and therefore to 5. istain ourselves, to preserve the credit -.rid character of the slate unimpaired, ;-.;kI to continue her hitherto unexam--.led march to wealth and distinction, ve have not an hour of time, nor a doltr of money, nor a hand employed In I lbor, to squander and dissipate upon mere objects of idleness, or taste, or amusement. On the contrary wc have -he most pressing need for the whole ol u!iem, nor this only, we require thai i hey should be concentrated as much possible, and skillfully and energetically applied to the great business in hand. If such, a result can he brought ithout and I see nothing but the illiberal opposition of local or individual interests io prevent it I have no hesitation in saying that Indiana is still "4 nfe and that she must and will ulliaiiately triumph. To make these things sufficiently nanifeet it seems to mc, both right and jroper, that we ehould attempt here Vriat some erhaps would cull a spe's of political reckoning: In other words that o should carefully endeavor to cast about us in view of approaching difficulties, to ascertain, if we can, our true position, the exact measure of mr strength embracing as it must the full extent of our several means and resources. Streh an exhibit it is very evident will, better than anything else, prepare the people to act with the necessary prudence to decide upon the iest measures, and to fortify themselves .nd the state most successfully against the severest shocks of any and every ria1. In the prosecution of so desirable a "-vl. - . 1 un r' .i2j wt. ,..'rr--t-. iy determine first, what the present liabilities of fhe state amount to, and, secondly, ivhat sums must be annually Taised to meet or liquidate the demands accruing therefrom, llv referring to the reports of our Canal Fund Coinmis--rionr -..we learn that the state has borrowed foriaternal improvement purpo- - sc3 up to the first of January last, three -millions eiht hundred nd twenty seven thousand dollars: One million rhrce hundred and twenty seven 1ht.11--.'.-ir.i.. fur tiiC Wabash aid Krie Canal, add the remaining two and a half millio.is for the benefit of our other winks. Ui on th vh-Me of this sum. with the exception of hundred thousand dollars, the slate pays an annual intt-rcM of five percent for the hundred thousand she pays six per cent. Which makes iter interest account alone for 1639 amount to one hundred and ninety two thousand three hundred and fifty dollar.--. This, therefore, in part, f.iraishcs an answer te cur setond -ri t t-rt in ittnlli'K lie flue t llio cum to be provided for and paid by I he state, not only for the coming but for many succeeding ycats. Willi this Knowledge before the us question the important question! f.ecii.dy presents itself, what provisions have we or our predecessors made to enable us to discharge so considerable a burthen? Independent of taxation, I confess (hat I can name but two ilcnii; first the interest arising from balances due upon the sales of canal lands; and, secondly the proceeds of the third instalment of the uipius revenue; no'.li amounting to not more than forty live thousand dollars, which subtracted from the one hundred and ninety two thousand three hundred and fifty dollars leaves a deficit ofBonc hundred and forty six thousand eights hundred and fifty dollars, to be levied out of, or charged upon the pockets of the people. If this developement does not startle or astonish, it sheuld, at least, it occurs tome, wake us up to a lively sense of!
ihe critical peculiarity of our situalion, ! vou 1. tlict that all our plans and openmi of the absolute necess.lv ofour di- rations have been framed in so large a reeling more of our immediate alien-j scale, that if we attempt to carry them tton and Study to our financial opera- forward, our presenl amount of indeht tions than we have hitherto done. It j edness must he swelled within the short mav be asked, and wi'h great proprW-j sp .ct ol the next f.,ur vers, up (o Ihe ty, too, is it possible that the ,, Df j ,, Gf U tl .nitons 0f ,IiI.,. J,. lilty-five thousand di.HarMs all that our! therefore we husband our means and
means. exc-ue., co, taxation, m cap,e resources no better than , have hereof producing, or of being applied lo toforc done-if we continue lo scatter
the cxiinguishment of our yearly burthens? To answer this question satisfactorily it it requirite that we ehoald
examine fnctfc- On the i rsrbOrtrrtta ry last, the state had sold canal lands to the amo int of 510,801 dolbws:-3C8.-000 of which . remains in the hands ol the purchasers subject to mi annual intercsl of six per cent, leaving, how cv . r. 178.801 bdlars together with 22.070 d.dh.is. the purchasers' interest f.r IS3S. in the possession of the stale for investment. The state had also received from the Treasury of the United States 800,35 1 dollars three
fourths of her share of the surplus lev
fliu making in all 1,1-i.J.l-O uonars. : o;,oiis 10 u .n. 1 i.ihi- u.i"?i j-.v .- This sum therefore. 1 lake it, con?tilu-jst:re in assuring you an off-el to tli. se, ted at the commencement of the pres i;wid as a guarantee for the future, that ent vc.ir tile absolute capital capable j (he ability of the State, that her means of productiveness which (he slate lu-ldjuud resources, if properly .imposed of,
.11 lirr !iwiln.l. l.(!(il.IiS dollars ol which we see was money in l and, or which had been in hand. If properly invested in Hank stock for example what should this latter sum have produced? Not less than ten per cent, or I0G,U2 dollars, as the operations of the Bank for the same period mort undeniably prove; add to this Siim '.he 22 0S0"lolais.the interest on the 3C8,000 dollars and we have 128,112 dolarsas the whole amount which, miht and ought to have been produced from; the Slate's capital this ear. let so it is, when we come to close our accounts, and to pay our debts at the end of the vear we find the proceeds of this capital so dispose d of, or the capital itstdf so managed, that we can only muster from it 45.500 dollars to apply lo our Internal Impiovement dints. It avails us lindens:, I apprclu-nd. to be fold that 44.0C0 dollais in addition to the 45 500 has been realized Irom tinsame capital, and distributed anion : the several counties of the stale lor school purposes our debt has not been diminished by it; the same heavy deficit of 1 10.850 dollars still stares us in the face; and, what is more moriifrinu than all, the fact, the bund i ng fac t ! that bv our miscrahli mismanagement heretofore, there has been lost to the tate, this single year, some 3S.G12. (the difffreme between 89.500 actually realized, and the ,$128,112 that might have been realized) thrusts itsi If upon us. whether wc will or no not lo comfort net to cheer but to upbraid ami ciitechise us. And will a change of position, or the enlargement of our field of enquiry so as to embrace within its limits the whole of the State's means, taxation and ail, better the foregoing results, or give to our nlFiirs a more comfortable aspect? Let us see. The value of the entire taxable property of the stale f.r 1838, as evidenced by the returns of the several assessors, amounts to about ninety eight or a hundred millions of dollars. The sum to be derived therefrom including S9.000 polls, according lo (bp; precont t-.ir- n( taxation, may possibly reach $190,000. On the supposition then that the current expenses of the state end the expense ot colleclin.t: the revenue, will not exceed ninety thousand dollars per annum, here will be left one hundred thousand tfolIrs to be applied lo our internal im - provemenl debt. Cut we have seen that after exhausting all other (uuus provided (or t!i :t purpose, that we arei nciimii nana wiiii 11ns tein o i ", ji apply the $100,000 lo it, and still J
we are Oelicil 1N'W uecu j lear adoitioli ol sixty Indlions ol ihdthis lo hae been? Look had; br a.hiis to the present sum of t.ixahles. moment and reflect. If our actual Leaving the increase of personal piopmeans had been iu Iieiou.!v invested ; ei I y oui of view alu -eiher. still tin-
and correctly applied invosicd and ; applied as once desired and strenuous-; iv urged ly a very respei taide pi rtion ol the friends 01 intemal improvement j what would have been the probable ' condition of lh; Treasury at the expi-j ration ol lli samiM car J:iJ 2-ietdowii the I2S.I !2 dollars whiih 11. ieht have been realized from the State me
exclusive of taxation as jnsl shown, and 1 expenses of t olici tin- and U,.. Slite' under it the SKKI.COO derived fiotieG verniiK nl, and welill should I. i
taxation and their united sums gives il... . mm...' i. it oc .iii- ii iu ine tiie?uoo. 1 uai is. to be more explicit, these sums show fust that we should have had in the Treasuiy at the expiration of 1830. -$228.113, and secondly that instead td being minus $-10,850, we shoutd have paid our whole debt, $lfl?,350, and had a surplus left of $3G.7G2. Is m.t Ibis difTerence a very striking one? It most assuredly is; and yet ii is just the dilfercnce we may alwavs look for he-i tween good and had management. It ! is not necessaiy,.ior would il he proper,' inat 1 suonld undertake here lo explain me cause ol sut Ii results. 1 shall fully accomplish my object if I ear. on ly s-.icceed iu presenting our east er rors in so distinct a light as lo arouse ' aim stimulate you to the pursuit and adoption of sut h measures as may most effectually avoid them hereafter. In deed tilt! 11(11 S-ilv nl 0 ilnii.fr 11 ; f strike von with i."..r..!.l .....v..'.. 1 and divide and dissipate them in Ihe same wild and reckless manner how think you, shall we ever be able lo
Tnecntinj"
mauds ncainsl the State without unnecessarily prosing the people; shaking their confidence in our noble en terprise; and blasting at once the hot
md the brightest prospects oflthat the longer they are withheld from
State improvemenis. Uut whilst I am thus compelled to expose unsparingly the mistaUi s of the piist. to draw o 'oon y picture ot the conditio:i of tin: present with the iroral erlainly ahead vf t!ie rapid in-r-He of debt atid difficulty, things so Will :iiid must continue to aujrmei.t 111 a corresponding proportion to the demands and liabilities lhal we anticipate against her. Sutler me then to make this firatifjing assurance evident ; lo marshal before) oil as briefly as 1 can the whole of these means, in order that you yourselves may deteimine whether m) opininion be well founded or not. The first item, that presents itself, t.i lie set don as coiislilutn g a part and pan el of thes- means, is the capital we hae I'M been considering amounting as wc have seen to iyrJ,iVO Secondly, 90.000 acres of Wabash & EiieCmal lands, 1 in g along the line cd the said canal between Fort Wayi.c ami I.egansport, worih on an average 10 per acre, 900.000 Thirdly, 291 C21 acres of land more selected and to he selected for I hat part of the Same canal hi tween the Tippecanoe river and Ttric Haute, wot th on avi rage not hss than 6 per acre, 1 .707.711 .$l,0'JJ:b72 Fourthly, the fourth inslali.ient of the surplu revenue; due lt January, 1939, 2SG.751 T'ocs this look like bankruptcy ? A? though our onward career musl terminate in ruin and distiess? Why should it ? Here is a clear unincumbered apitalofat least four millions of dollars absolutely at our disposal; a capital (hat invested either in Uuuk stock or in loans upon mortgage, must nelt to the state not less than eight per cent. 320,000 dollars per r-niium. Let the w hole of this be applied to the extinguishment of our debt and what would te the result? It would leave, to defray the entire interest on our anticipated debt often millions, only 180,000 dollars, to be raised by taxation or from our public woiks. Such being the case, let us inquire what we may set down our taxable properly at by 1812, the lime when our debt may probably reach nine or ten millions? This value the present year, if the assessment had been couectly made, amounts to not less than one hundred and ten millions of doll. us: bv 1012 jwe know thai six millions 01 acres ol j land must be added lo tin: U x list, 1 w hich on the supposition thai the y will then average w hat the lauds subject to taxation, 1 now aveiago throughout the stale 10 per acre, we shall h;ue a fuels show that we 111.1 v ica-n.ialiU :,! uUti: on having in tin: state iy iyi2. i.y 1 t J millions ol (axabie pr qierly . Lten at l!u present r.ite ol i.tx-iitiui. tins amount wuuld produce $255 add the tax 011 10.),000 rdi?, $5.) 0(J iml (lie wlioie revenue c.ollccl.ihh: foi ' IS JO would he in il i ,1..... 1 1 ...
neans,!;)Uo,tU0 dollars, dedml n IOo". Owl) in,
left S-Ji)0,OJO to anproi-i iate to the ! ; . .... . . ' . " .-iouiuj; oi ouiucut: mine titan Sllfiictcut to pay the 10,000 required Irom taxation or from our public works. ihit the wiioie oflhese estimates and calculations, you will perceive, are based upon ttiu supposition lhal y ou will take immediate su ps to render the foregoing means p-oductive by investing them as speedily as possible, in the ioom pioii.aoie iuiitl. I 11 ilu- ... 1 thereloie, 1 respectfully recommend that the y2U0,UOU already derived fiom ihe sale of the Canal finds in: 10:1 vir- " ' V o.i . ted into hank stock: and lhal (he ,-,..) manniig unsold lands he tli posed early as they well can he, wn!lt.ut et:ihii.gLiing their sacrifice, and lt. ,,ro. ceeus, as soon as received, invested in ihe same way. Eor nothing to me can he dearer, than, that so lour as the i Stale can borrow at 5 ier i.t .... 1 can invest her own ninds at 8 and 10! ertenl. that it wouid he- notonlr theot the iudi.iii title; true, hut then is l lie if no u-.iv t.. 1 .: . . 1 lor all this.' SSuppore ymi increase Ul !
extreme ol niismai.agement hut tiu-ex ! ,' 't'- ,,L1,,,; others are touched; Jly rLC,lllm!atlll18 Uo( ,,e , . cessoflolly in her nol to do il. Iul' ' 'T'-d,put int., u,e " lime, lead t., ,ie ,,,:, .,, perhapslmay he told that We shall not i , r '!l "'C hntc ' Z'g u'T, 'T T'Z i ' '.,,,,,"r l" "'Vbe able to cmivcrl our lands into mo V ,hi"S '' them vvhiM she is iuKwd !? uL V' 1i,mi..i; ...... .. ... . ,nOI,",b ait of fmishi,,,, iU, :......, m .V ouW t!"3. ""-or wurd.be ...ore H.a
j vi.nviii in. 11 tnie ii.iriir.ti ..1 ... ... r . v.. ...... r.:.c..u i.l.. ........ . .
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1 1.1 III: i :.iil .1 II. .-i - ...luuirr iii.iiioii 01 uoii.irs, and apply t,e profits to make good the deliticncies th.,i may re.-u'l from such a contingency see you not how torn-
it? Indeed I am lot so rerf.tin but lhal this would be the belli r policy 1 veil if he SlJite could dispose of It 1 l.uids now; for all I think will ndn it
sale in irnscoucni e ol Ibe raeitl in crease of population and improvement around them, the greater will be their value. Thus far, scrrcc an allusion hrs been made to our puidic works; the prohnlity or improbability of receiving an thing from them, in the mean lime, has formed no part of any of the preceding 1 ah illations. Arc they lo i e Inst sTghl d? Are ihey to be set down as nothini: ? Nol il we are lo judge from present appearances. For by looking to their present state of forwardness we find 90 miles of the Wabash and Erie Canal; 31 miles oflhe While Water Caiifl; 23 mih s of the Indianapolis division, and 20 miles of the southern division of (he Central Canal; 22 mile of the Madison and Indianapolis iladroad. at. d II miles of the New Albany and Viuceiiiies M'AdamiM-d road, all mmpletcd and icady for navig.itioii in the -.ting. We find, furthermore, that there are now under coniracl 55 miles of the Wabash and Erie Canal; 21 miles of the White Water 1 anal: 43 miles oflhe Central ('mini; 25 miles of the Cross-cut canal; Tniil. sof ll.e Errand Michigan canal; the grading of 27 miles of the Indianapolis ai.d Lafnelte road; 53 miles on the JeflV-i sonville VS: ('i-awftuilsvilie road; 20 miles on the New Albany and Vmrenm s road; and 1 miles on the Mndisou and ludiauapnlis road, making allo;rther an siggu--gate of 227 miles f Canal, rail and M"d iuiised road completed; and 2C4 miles now under contract ; In sides the him and lock, and all the im nts in s-arv to overcome: improvethe o!stiuctiuns at the raj 'uls tif the Wa!:ish river. Facts cei laii.ly, hii h most cheeringly dcmoiistiat.-thai Id otir LegiMalite supiiu uess. or iinprovi .'ence. or mismanagement be what ihev ma iliat neilher the bo, ird of internal im provemenl. the Engineer dep 11 (iih i:!' or tin; contractors and laborers engaged up 111 the woiks, can tie charged with like def uhs,or w illi having been wau ling in any oflhe essclial requiriles of energy,i:idiislry or perseverance. Why if the same spirit, the same energy, and the same perscverenre with a htlle better management be only kept up. wc may confidently assert that by 1S43 the Wabash and Ene Canal to Covington, if not farther; the White Water Canal to Hagerstowp; the central canal from Evansville to the feeder dam on While river, and from Martinsville to (he W abash and Erie Canal; the Cross-cut canal; the Madison and Indianapolis rail road; and the NW Albany and Vincciines M'Ad imised road will all hecoiiplotcJ and in full operalion; oe-iiies un?'idi;.! le portions of iieinc ana IVlichig.in canal; the 1 nfayelte and Indiam.pohs, and the Jefferc,iivilh; and Cra w foi dsville M'Adain roads. Can it.llien fore, with the least fhade of propriety, he said (hat nothing can or ought (o hi expected from them in the 11101:11 lime; in a word that they are to be only a burthen and an expense to ii,? Strange if it would! I have now fiui-hed, as briefly as I ou)J,whatI promised in the heiriuniiig to endeavor the asccrl-iini: ent of our true position (he . xact mcasuif ofour strength- embracing the cx'ctit and 1 harai ier cf our sevi ral means & resour es. 1 bo f wis. conclusions & the recommendations growing out ol M 1 1 -.1 '1 ....in. j ie.i,c will! you, Mia! ol mat dispose vf or give, to them h iteviu w ight or lOMsideralion our better !Ju,,ai'aient may dictate. I oroeeed "H' ',t Xl. I'1'"'''.'" .' Xaioine Ihe mode or l" l""""'lr l'"1'1" M," di:ive , u!' lM'oecuied. Unless I greatly err '' V " vii)Uom) !,;,v be pe.initied 'OC ..1.... I I 1 " i in-ie a. 111 oeeomo .1 1 'idorme to a very o:i-iJeral.le extent. Manx useless expenditures may he avrided. and the system conducted insuth wa' as lo render the works more speedily productive and ci.nsecpioullv less hurthetisome to the people. And here, permit me to remark, thai my views on this brain h ofour enquirv. have undergone no change. The Man I nron.w d i ..... iiii.oiu. ago in llie address 1 had nv..i. .1 . . .." . . 1 1 me honor ol delivering f.mn this pl. e '. taking tl.ExefHti-c chair. iMilladhereto. Indeed experience sine ha- " My coiiiirined mt: in il more stm,,.,! Ii at was it? It ...... .-: 1 .. . . ceiitrate(lor 1 repeat! he same 1. u:,.-e-Ihe means of tho State on portion"..! i-aii. work atthesame lime, commencing at Hie most prolilable and comm. .- ctal points, (o be designated by ihe Le- " as T-IIIIIMl "lit 1 nr. mc lu.ard of internal h,,. - , "V '"l,eIC ,,,,sn portions lias 11 heeli if ... I'lie very revt-i-o. :.! your ey es over the man of li e State. - .11 . 7 win 1111. portions of many ol lb-: w orks under c ract, remote Iron, each other, so mm h so, lhat in some inst u.tes il will require the labor of Iwo or ttirec years to connect tl er. What must
micu oils
be Kzl&Bi Wlty litsiiltv to (be JLtHLik ot
il.i 111 rtitist remain just so 11 m h cieail 1 apilal until li e connection belwu ti
e i iii 1 i 11. urn i, 1 mr urn X'i i-k-i-..! niiii m.t c ese ol j cli. lis in a great j re,ei t jrnr! ':r "iij-oitu ti e past 01 I Thesaii eiXt.nt of work . ur ngr.. ..hi.r, , ,-JJ rwn of i 1 . . , -. .t ul.i.l. all ..mill Mr V.fi-Wl I
plelcil i II III inr aii'e -- caicuiaiions tt I
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nlent lie iiiace to reel J ISn tne 1. that while (he l. (t 1 pertains an ,,,,., ul uiee field, tl.e-e are txt pit tii g. the !'..( porlit ns tonphltd m-n nut oK-rvnlij liHitl.pdn.v,tl1elesst woiihl I c in il: e. gatlu-rii g tolls and hi liyl.t iijion li.i sutiject; ai.d iLpVc retbe iitfiliug the ttuinlrv ll.it.'.gh hit h '" ' ur a. ulation.A: tlie aggrc. II,,., pas. A m I a.ked lodtsienate a rle ... il.e.r wcalil.; all ehe connected with - .iiMii 1 . 1 bem if laorn or Its wrapj.ed in the mitt. tti.ise.l.alVMuId Ilk. Iy had It; mm h a (I u, t llIlt.cltllll,lyV 11,1,"! HM.i?To J tint out ll.e sttjs.by quuy realw itt-elt at i-nce into tbj; will hit h a refoi iiiation t an he Saf-ly t lb 1 - j a it.i.tilMi:a of 71-0.1 (-0 ii.liabil.intn. poteti? 1 proe-OM- and ret ..mii.t lid firs(, . cmciI m jiroaeity. tl.e miniated value of lhal the hoard of internal mm . ment : ""Sred let. million of dol- . . j larf. justiiy ll.e rbtabln-lurciii nf n..i. b-reorg Z d; thai .1 he ...ath- I" It-,.f x mi,Jion of d..H.il tll"t alter lo 1 onsisi ol hut ihrt e mt inber-. ,j ,ev W(!. nl j jt eull be mi diffimlin.at. lobe elet ted by the Legist tttire, re- ier l.t nistnin tl.is npiitinn, by the exj eri. gardh ss of locahi v or pho e w i'.h a fixctl ei;ce tit m und Haiikiiig o,t-rbtiii.s in otUcr -alarv. .:ch d (if 1 1 ri luiditd th.lh.is Sla,,',s "J' "',d "'e "crafinn ,K)iinit; . ... , , .. .... . but lt rit this there might he error I per annum; tJ:at K I e inatle ll.e diiM id . . r 1 , "" 1 1 111 1"' . u,'" rertMiiinei.il that t be mnease he pradu.me ol them lo lake t oarge ol ll.e I.ne .!Iy 1(:c, allll t,Ht Me,-p be taken.in tbi and Michigan ( anal, the i.l'i.sli ill'il illtnn time, to procme the r.rccffnrr ;n.
Erie ("anal to Logai sport, lo nipt 1 in- foi iiottii.u nu ll (. I Lave just named, to lend the salftt and t oilec! 1011 ol ll.e in- enable y mi t. graduate tld increawi judiI. nst on fatal Lan.ai.d that the c"-l,-v .. m..,, I.t.rt ol the fmiu W,ich , , , et eoiiiiii'.ii ag'irity and pnuli-i.ee 1111. y Hesi?. mht r two have toe care of the remain- , i!(U. V f , , (iiC ww , . ing works divided between tin in. l.tve ,., t 1,,:, that lc ctmrerted her Itankg lo this bosird i.lso tl.e po 1 r of 1 li ph.y-j 11. to rwun lu-g t-l.opt-'. t.r tbnt the counten. ing and fixing the pa or sal.ii it s t f 1 11-j etl iraml ai d rrrniplion in my Li,c, gineers. The ll.ai if. as at pi 1 sent t ml j ,or'" ot "'fr liaUHfr. siituled.costsihe Stale 1 b cn lhoiLand V-v ,,'- t,J,, ) d ne of its fljrer four hundred and i.ineU si vt 11 ih Ih.is ; l'"r ,,,u ' !-arlt r gives the ex. cniin l:o and fifty cent. As I jm pus.-In 1 i.i.sli-1 T1'1 a'l' ihe Ihmk i-fficialk Inr lute it.it wt.uld t t.l..i.lv 1.5Ctla .ar. j ''b'n.alioi:-I !...vel , , prrniili fc Showing in favor if ihe laiter pr.psi-j ' i,r" "" latino f j.pik lion a saving!.. Ihe Siaiet I ntai S?LC0 i ,,i,i; ' ' '' "'d.e ai.i.ct:,! per annum. Si omllv.that tht St vi tal j ,: '"I" H ' r enL.thai ..(. r p,i, - corps of Eniiei? he so Mgai.isid bv l,Lt' u,u u ' '" amount ,f U ,-; .j. the printip;! Engineer, lhal hut i.i.cj1"' ,,"r LO.CGt) !. Itrs f e
corps he allow ed lo each woi k. If this j measure can only if t ai rn ti. i wo 110poitanl result? li:il I follow : fust a great dimiiiu'.ioii of t xpei St- lo tin: Slatt ; and Secolitllv, the pros. I mioli ct at h Work "tsti matitaily. I'm then the lit aid weitJil he oompcllcd to lomplete as ihev adv.'i! ft tl. and to coliccntiaie the means of the Slate iiithemaiii.tr 1 h ive suggested. Had this 1 lib: been clallisll.'l ill the begiui-ii.g, Ihe Mal 1 lei ing s Stem, ns some have called it, could never have been ncled upon. If these measmcs iu-iiiloptcd.and llie means of the Stale hiiehnntlt d.iiiVt rtcd and applied in llie manner 1 have pro posed, the state, I feci ansuietl, i.eed appiel end but very lit l lo danger or ditiittiliy; she iN he ible,an;ply aid-, to finish' her present undei taking and to do something iu (he meanwhile for lhal first and most meritorious work whit h is now ro rapidly going lo tit ay Ihe Mithigau Koac! Too 11 tit money lias been already t xpeuded no on this road lo be ihrown aside eiilin It ; liesKtes its impertaitt c anu atlvai.ta.i lo Ihe rouiilry at laige are det iile.lly loo great to suffer it lo sink into oIim 11rity or neglect. If therefore- yc-ti cannot apply toil Ihe wholei nergie? of tin Slate, ami M:.damise it at mire, mat you not lake steps to keep il in rcpafi to make il passal Ie imtil y oil li:.i he able to take hold of it tfiicici.fh requriring t very improve nam u.'u'i upon it lo b made with an eve lo il tuiiire completion? This 1 think ion may salely do and hat too nithottf .m,. pcting yr.urstlvts to tl.e obnoxious ihai!'ool exteiiifiugthe svstem i'i.,. . i.t Finn iiiiopriaieii ny tuv inter nal improvt nu i.t ,ii j,, u,,. r,tl,. Ibm of ihe Madison and Imliaio.poli iv.i.ireati is t.ciw m-ai ly ( xhausled, so mm 11 mi, mat to presi 1 11 e it further 01 t ven with the n-tpiisite uu rgy, a.i 5;t!. dilional appropiia'ioit h. t i n t s 11. ( . s:n i 'Pi, ..1 .1 : . .. :n 1... i i "" " "i "e 00110. 1 raiinot tor a n:omei.t p.ermii myself to th nht. Il would speak but poorly indtid i beha li t i 1 i.rr efthe wiadJtit crstabilin of the state to refuse il. Having alluded lo our Slate P.ank and havn.g repeatedly intimated U.al we mighi piohal Iv iise'il s tin inslrumenl to relieve ihe people Iron, ihn I ened hui lhen of laxatioii. n. .id.. ...... nggests, h.owever, ht foifilu adootioi. .. mii ii a measure that we rarefullt st I IlillUSi mise its caput ity (or such employ- . Especially so, as exoei i. n. meut leaches us the f-arful lesson that ihcrc ..if limns lieyooi! whi. h il hanking , t j. vilegt s and hanking opt rations an-, ar. ned.they cease lo do good ami bet.,,,,, engines ol int ah ul able mi,t hief. Indeed I think I express no more than ihe common sentiment of the people of Indiana when I say thai I would mm I. soonersubii.it to ll.e incoi.v t ni, mr.sol Hit least d taxation than lo if.,. si;t!l. tnl :i tsiiit. I.. 1..... It. ....I.. 1 . e" n. .ie. i w 1111 uepif, . an d or irredeemat.lt; hank pa, Cr, U.e i-llspring ofour own instil ution. temjiting therefore to cs. ape f.om or elude the one evil it ho,,. mis u .,, see to he , Xtl eilit.olv careful not to call uo w 11 upon ourselves ihe .uher. would renin re? ti..re tl.nn ......1.1 i. .... - c liftestry t keep up and iiiHin,,!, a t..iu and liea'iliy tttion, in a;.d Lei vice 11 ,0 various tif,,rime.its oftmr gritiiltur-l iuccl.ai.icat unit coiiiiuercial ii.ter.K. ll,r..ugl,ut State! Fr beyond il,j vvc ' ui.jj;.. in.j 111 go. nuLV,,-l" 1" ,'le,,,l"'lf iiwrr ' ph tIllt.Slllll.ll. I ClIlllKM ll.ul I :.i ll.ese
' f ,,'jf. pVj
1
""' Wliccrwd, can i.. ... . 1.1: k ' unailatetl a sinking fui.tl of ww. -iUcenls. r at n rlaijJr nl.iih 1 oiiiu tied with ibis otu.r oneno Ir'i giatii'y ii.g to itir Slafe pride f;f ti c t Kiu.w 1. tigi ,t rrnltt :.t,d Ml, P( v cf the u.stiiuhtin spent not only loudlr In Us behalf, !..il augurs s. II for it iu'ih lutiite. Ii.'j.ddifiMi to Ibe foitgr,c i t ins, I have also It tuned il.i.t fre. will iitpil.il ofMone of the ltiatlt', rjuiits no ii.f-tenrc while i.'.i.rrs tJolhal rt me o 1 hilt- n divide i f f,( u 1. & wt Ue per it i.l !,.. ...b.rs enf, diide M vtn or .-igi,,. Gminsttcr, c Idcnily w huh sIOHj lol w fctft it ..I n btui uti ai,- makinp pn.v ww.g for Uic iii.tvmm; vf liu ir :.riii.t.r p,t,,0. I"l whtl. yt.lt are deh-t irinti p 10 inm IIK-O.alt- Iwmls in vbeir Mi tt Volit) and tip, dim. lu M emit, the l..ie that llir,.e m .nj, te , Me$ where ihey ww4 at .. ,.e most avail.. i le. For .1 ei!d ll.e :mu aod inier.M f the State at hm fatti.v p. rio.1 iti. r ti e sHe'o.'mit . rtit nni ihe fiord ens-My. irVqirn l l :l.e wiMltntofa St hmon to tie Mr that riot kin JrafcrJ.,. rtaft'itide inituu! twelve per tent u uld si ll reader r.rd t 0n.111a1.il a better pricf fl an st t k in br.ui. Ik thaf t',ii- ri.ly hud and t ight. Iu ax pat i r ln. unless I etr mol rgrrgiofi.it. would f I tbt 1 1. fi? ol leu ai.d 1 n , Iv- p, r 1 1 Id 011 the sia't s apihtl would 01 1 a.ioii a n:ut h lighter iraw in pot -el. than a pit lit of sr. veil or eiirht. U'l.i 1. f..re t nl.! ,1. t on. let cd. if yen n solve tij -en mii h invt stmt u s, ihat i f.e made ibe de'r tf be Ptesidt nl of the Slate SJai.k.'nnJ htr ivatcdi.tctus tf li t State Ilc:u!, it tli.iribnte the state sit 1 k. m d to J lace ih.-SUile funds spt t isd-'v where .bey would do li e n i st good i t! j rotute the gieattst prt.fit. 1 wtui-.i titvtdve this c!nf v i n lit st- ii:livi!;:t :s lrt uusf tht t tin alwavs 't 11 11 n: d a f u!t knowledge of ti e ripM iiy :.t d nan!! td Ihe thir. tt t.l biaiichts and abtivc f lut aiift; ihey ate etc N d by il.fi L. gi--h'tuio and would ibt ttfote be I e'd more dirt ilv if.n.,i.:i iii . Nt.w iliai 1 cm 011 the subject t.f iIk jiiiik, I seize the t ccasit n to call your atleiita.n lo ai.othcr raatlercoiinrctt d iLcrcwidi. In their snxietv to iuard lJ:i; n roi;!e c.v.d ihe public aainst the evils whicii Dunks unchecked by any supervisory 'low er, are oui too apt to generate, the Legislature, uuioiig other things enacted, ' iliat when 1 he Governor of the Stale shall have reason to believe that the Cii.utu "bnsbeen violated, it may lie law It: I for him to order a f rirr facing to besiHtl out "c..lliier on the CorjHiration to show c;iise wherefore the Charter shall not hed - ehirid foifcited Is nol the discicuon of the Governor here a liiile Iiki uiiiiiiiitf ii' Ftr what slull constitute the sidlicit nl Mcucds of his belief! Mere ruiiioi il.r exaggerated reports, ihe highly culnuad rt pr. si illations, of perhaps, d.saj .ol;:i'. d or hostile individuals! Jle h; s 1:0 tuihoiiiy, rt collect, to institute an ir.vi ssi-s-lion t.f tiny kind; no matter how- ficlit.ViU or how unfounded a rhart'e .-i".,iii.-i i!i ' Bunk may be, ho h::s no means of lindiii it out. indeed, for ought lht t ppa.ns ii't n ihe fjeeof ihe Charter, the credit tiil cbaiscicrof the insiituiion, together wish the vast ii, tores-is it invt.lvr !r... in a
j-'iciier or less degrae, at the nn rt v tr the whim and caprice of llie e.c culiv'e. lie may constantly harrass it, bv suing out one .'cirrfuciti alier another, atiti alwavs excuse himself by allidgiag ll : t he l;. d reason it, I elicve. lhal ihe Bank L.d viclaud its Chart, r." ;s he anxious to secure an dection. what better expedient can he rest 11 1 to than to make war upoi; tlie Diilik? Is il IKC.SS-.iiv to sbind his
coiithict. or the t-enini. ,.fi,. ,;nn.
s bout loo sevt re a sculiny. how inhrc 11.. 1 .......
nutiui becotne, Umh Utterdar'
cntpta'.ioa
It uoi be ai irba!;tor Lfbis actitl I tli an int Jcrer charf red against lermine m timself, car kannot prop iut you car and can clo; 0 make iir an coinpc t fcf his invest ure and tl Cf in rcai yarning, an; y the ec rounds of,f Jodged wilA', ippears uec Vctter for tti ind better 1fT Coiernor wr itanlial, upc Hief the f. Ys Agent; a $ insure a clc tration of t' jirely withsa fould dare Uf. towers, or pn luiinr. mc jjt-ople; ws if pnvenienco, 1 at account f csc ends,-j ; L-pnsiblc to, k nnd all U. ' .on. wf !t. inj.-.n cstigatinilW at serviceii' iblic: for wk; cprs more
Icbarge of-t Vt nothing M
nee of the ' Among the ' uincratcd f nion of the ; res of land i m what st nd some exj roin an a-itS .1827. Th Ulana for thr vninj; a c
Boiins ti,e
iih those ' nd equal I - idlli cij
he end ihe.
d of by the L r.at purpose 4 he lol lowing I '.all be comr omplcled in tall be be ales the i evicusly so! ' pted;she . e five jeari 'self to all tl
ktlie act, yo
ntitv of lane J dispose of:
Dn us tome tl Dhei the rule I
ascertained-! If of five sect the canal f.
her. The le' ust be the
lidcntly, the j
cater mast b !l be entitled certainty ihej cause it neitl? be united n nal but leave rws.;d3 8ultle :e question V "horiiy been' whom is the
Med! InC F 'he United!
Kana! UDr:
act exprei 0 its words. ?
'lie canal shal j; the State;
joveraor iber persons as in
Mter be auti
construction 4
!lei tain the f state will be t inr.l.: . '
mis act an
ipretary of ih(
ucre is ceru yhl of Indi,
"iisequenilj. t
Is well as to t
i- moment )
en exeieise.
lingoage of
route oft!
r statute be
fnunating p.
aoasn Katrer
niher whe ogress! T
e'Uer, provi
gable point i
(JPS it may y Uions hi.-
Por of thir' !
foandbut t
u,e alternat 'canal to thf, nmissia"'
"nder the i il. .
f'e ioth.r
iric'.t iaaiir-. ?