Indiana State Sentinel, Indianapolis, Marion County, 3 December 1844 — Page 2

GOVERNOR'S MESSAGE. (' nt!t int n f tlir Sinulr, ami of the llousr of llrrrs, ntatrts . XV e have cause of ! p bneahtelaeaa t a bent flrrnt Ir' nrc, that during the n-t :ir we Ja t- been permitted, w ithin tlic limits of uur own beloved State t enjov the blessings it civil and religious hhcrtv, unmolested bv tin hand öl mi-puuKd Zeal Of l.twltss vioIt nee that tin pai red right ol worshiping Almighty God, according to tin- dtcfetea f consciences" justly coaccdeil to each and ovary iitdividu.it by tin' ceraatitMlioe, boo, in proctico, bo scrupulously respected that the hem - tits it education have 1 n I in reused and Meruit d in its trarioea departments that peace, morality, ami good oraV have prevaih d, the supremacy of the laws hi n 4 Uiinvvlodged, und ÜM tu Id intlucnic uf religion hit tar and BOOT. The annua! meeting of the IJej.r -c ntatives of 1 1 State, to whose hands are temporarily committed the great rind varied interests uiul well lump of 0 CSMlfiding people, is. in itfct It. Well calculated to a W a U c n that deep MOBO of responsibility which, It is confidently ti listed, will ensure wisdom and prudence in your couueds, and ( i ntuate in the public good. As the public statutes of the State have recently undergone a thorough revision, aod at j;reat expense, the hope is indulged, that but few snbjt els ol a gem t.d nature will, at this tune. r ipnre your consideration All legislation, hut especially that art ich is gt neral m lis hi anng. sh.nl 'I he exercised with gnat caie ami delihertttiott. and (except in palpaMe east s) should he looted bj tune ami i xpciidice, hetort- nnul is had to modification Of rt peal. The ordinary expeeeea of the Uoeernaient, for I ho fiscal rear ending with Iba 311 day ol Oi '."her but, arete :;.: '.- 73, a w ill he shown bv the report of the Tn anirer, at ln h bi will shortly lav before yon. I I Ibia mihi, how ever, I ata aotbocixed t st.it-. that more than 17,000 wi re 00 a eotint of stationery (or the Kt vised Stattrtel uf 1843, l'r piloting and distributing the HHMO, end fee eont penaation uf the ret isor ; and the same is then lure jaetly chargeable to the eipoaditareoof loraiot jreara A eoeaiderabte povtioa, also, ol' the espeaaai of the eontingi rtt fund, in--baled tu the fust named sum. cctacd ilui.ng the vear 1843, although audited and paid during the present e.ir. I'v the Baaeo report it will he s. en. tliat miller u i iw id the I.egisi iture, the Treeearer effected a loan Irani I he Michigan City, V incennea, end Fort Wayne brancht of the State Bank, to enable him to meet the expi n - of the Slate Provision, by law, vv a made at I be same s, , noa, or b ich, it was treated, would ensure the laithful ;nving over tt the Treasury . by the Collectors, the saBIC um lu v hv ilicm received lor Statt revenne ; ami u be the partial ahsorpt m 1 1 of tbo Treaeary aotoa m circa laUon, which are receivable for taeee, they had eowaaaterably increased in value, i hope, ate, ami t is enterlaiaed, that an amount of baakable fends will thus be collected, sufficient to meet the loan reit rred to, al maturity lint as these officers arc, by Ihe present law , not required to pay into the troaoary the amount due for State Kt venue, before the fourth .Monday in February, it is t arnestly submitted w heUnW early provision should ant h' made to meet any oafbraeoa contingency in reference to this debt, as Orel I as to defray the ordinary eXpeeSCl of the t llMJIIig ear. The auditor in Iiis report herewith suhmittt d, e-iim lies the stun BOCeooory for the otdinary rxpcns.-s tif tlic curreot fiecel year, at $ 67,950. In this statement, however, it stiould he ebeereed, be does not include an eatiaaate al iiiiaui!iti d claims due before the dist of October loot, I be Natt -house, the new State Prison, nor the reetilOtioB i I trust funds, wh ch, as I urn informed by him, bad been, in ttie exicoacjee f tte pulhr nervier, paitl out fiom tbtrcHstiry in lornicr years without appropriation. The sul'ject of our State debt is of primary importance, Mai demands our attention. On consulting the hest sourci -of HlfbfoaatiOB, the following, it is believed, is a corn et tatemeot of the natate and present amount f all claims againal us, with perhaps, a few BnimpOTtiat vartaltons : FaaaVd Debt On ncrount nfXX'atiaHh and Krie (.'anal, - f 1. 727.004 Internal improvements, (proper,) . N.900 ' DO Hank, ,413,000 Madiaoa and Indienapolia Kail-road, - - 156,000 l.awreucehurgli ami Iiidianapolis IbikrOad, 221,0 1 Surplus Kevenue, ..... 191,000 lote real and to redeem Treooary No'.ea, - 1,100,000

t I lh( se there linve been rcdeemed and canct lied in Bande, .... i,S29,ooo There were cancelled without being put into circulation of the l,100,000, belag 7 per cent. Uonds, 1,061 000

!.", I I I.IH't)

2,-93.nMI

Outstanding, ..... I "J, 2 1 1 .eon Of these the bank regularly pays the interest on 1 ,300,(100

Leaving .... 110,928,006 On which no iniertst hi pud, and no provision is made for i s i i nielit (If this sUin, 100,u00 dollars !ears fi per cent, intl re-t 110,692,000, 5 per cent, interest, and 636,000 .7 per n nt. inter, st. The annua! interest, therefore, on the fended debt, (ea elusive of what is paid hv th bank, ) is on 6100,000 at per cent , ....... i.lino 36.000 at 7 tcr cent., ... 2,520 10 092 000 at .' per cent, - - . 534,600

6&43.130 The ÜJmcstic or Uafanded Debt may be staled as h i low : i"nx per rent. Treasury Notes outstanding, , Interetl thereon to l?t Jan. ISIÖ, 170,000 Five per cent. Trea-U'y Notes outstanding, old 000 Interest from, bjv 1 st June 1 s 12, to 1 si January, is 15, . . . . M,262 Uorrowcd ol Miehiean City IVtnk, - lO.OirO Vtnceanea Uank, - 10,000 Fort W ayne Beak, - 6.000 (Quarter er cent. Treaeary Notoe, nutsUr.dmg, 00

121,262 To this may be added the loans by the liMine 01 1 1lions ot the Treasury, from various trust fund-; which should be replaced as speedi'y as possible, patticularll the amount borrowed from the -i per cent. Fund, that being much Beeden1 and loudly Called fot by the VatkHM counties to which it telorip.s. In this state f eur tlTiirs and prepare! ry to arti n on the sulj-'Ct, it behooeefl U. lO careful y urvi y the whole ground, and i.ote the ol rtoclei which bead our path. It is fr more difficult to pay tha interest en a foreign, than on a doraeatic debt, lathe f rm r rate, fhrro if aa antiujl drain ol the precioim metals, whi h directly (arid uinler the presenl I aahiaOj fa in, t i a I ir gr. a'er extent, indorectry,) diminishes iho ctrcttlattoa of the eoaatry. Iti the latter case the muri-st is paid to citizens reaidmc in t.he aaoae eoaatry, in the local earreacy, it still remaint in the same commanily, and no milrriil dtmiaalion io iho oirrulatioe is pecasiooed. The gjvt rament d Greet Uritiin would he eruhnl under the wi icht i f its imnmnae eebf, w. r it u .t due t r own suhject?. Their onerous laxe couid not he b .rr.e. .f they were rut, simuilalieoualy received from, end pai ! out to persona inhabiting the feSflie country. A constant diairt of specie cannot be I n j; sustained by any country, unless the vacuum tht rebj 0C a-i med. ;s from time to ÜOH rep'eniahed by the exportation of industrial prodocta. The laawi is true of cur I an :z'i cemmcw e. I a-h jisymrii'i fjt balances in favor of imports would, if continued, frhortiy drain the whole country of specie. B fore lhal tune woald arrive, however, the greater chcapoeea of the staples. irMtag frurn the accju.u'a:. n at h ine, a1 d the jearcity i f money caused by tts botnaf teat abroad, woo i occasion the former to t cxrha:.i; d for the la'ter, i.J the rqatitbiiom w u!d be rrttopd l't e . ,m; -.rj';. !y imall aaaoaat of specie I r ':jl,t it. to the United tttatee, by i :i migration, or produ ed from rur nines, can not be reind 06 In retorii I thtse balances, in ds mucli ss ir f(-ar . . k epa ace with the r.ip.J sr wth of our p q nl it iw, aCOmpored w ith that f most other cou:;'.rics. 'J'he b i. n.rt t the tra !e of iho Uoited Sutca may at timet be aaateorahie. ltut in that ca-e it will in l e ri--- . I y a i orresponding amount of exp rtf. Pot, it it i at u;., e tfslufed by cash payments, still there must be an ecs i f i tport afterwards, to uj.ply the tos ofcurrenrv occeaieacd hv such payments, which amounts to the r-arne iL ;. Thus, while our own cornir.ei. ial biatorf show, these vi bralioti la Ira Je, it also es'S.ihcs the fact that the averts'' ej OfM nd bjM -rla ol the ünned Btaatt oft eooa!.

i ac apparent t.aianeea afiinst u. while nan? of the Statea were e- gijed in making loans fr,,m abroad, for ob-jr-cts of NapfWeeaMaet, ar.d i ther purj, aro fror the Oct ihit the far greater part of these loans r a?wd through our custom houses in the shape of roods, into which they haJ bi en converud in Fur.-pe. These loans of the iq. tit bted 'Malt a MMajnt to above ; .00,000,000 gtnl it i man- !. - I . ,i w!tat has been aaid, tliat this large balance when j ij I. with its s.Ciuing interest o.ust le m-1, directly or inJircctly MOMf or lau r by the incnaaeJ cipoitation of our agricultural and other staple prinlurtf. If the foregoing views arc circit, the discharge of our foreign Imhbtf dorai w ll be more or lcs onerous, accordii j as the tarilT p 4b y a ! pled ty the general governmi at, is m aaj or less restricted Indiana is now aim. at deetitate of a currency, becau-e theic has been a r mn'int drain BOOO it, to pay our large balancra due to the eastern . . i mpj ly t. i dt fulfill v, we must have a readt ami profitable sale of our agricultural productions. A roanaaan argument in favor of tlie rcstrutive sy-tem, is, that it furnirl.es a hme marke; I r the farmer. Hut a ref. rence to the returns in the last census. h-m .n-tra'es that the agricultural prodocti ns i f the I la'.nl .lte far exceed any domestic eV i n Mid f.r consumption. And thev would be a-t i ii reater, if the iiolustry and enterprise of the far. i. er, were st.mul.it d by remunerating prices. The oaaaafactartag States, are ihemstlves, largely agricultural. hit they lark in supp'ying the demand within tbeir own Urn Ha ceAsectivotyrotabl te ooaebj furnished ly a single western Mate. Wlnre Ihen ac the other agricultural Btatea ta Cnd a market tor i!. :r surp'us' Dr. sbauld tin re be an mciease of manufacturers, uiTicieut to consume the surplus prodacn of tha nrhabj c. untry, where weald their iabftca tad a maikel ' -At !. -me. the demaod would bear napraportion to the supply and ,if the doetune of the n sti u tioi ists tlamactvis i correct) " abroad, others wou'.l nadaraalL' The wealth of a country consists in the pr. ducts of labor, in its larcst eaoa. The ajrwiegate ..f this wealth cannot 1 ii.cn.ised by legislation ; it is limited by the i, u in' . i , s-,ef c h. n.i! ..- i v. a; d rki.l d th s engaged in its acqaisittuii. Any legislation, ll.erelote, that rmcb certain mdtviduada in the community, higher prices lor iheir pr. ducts than ll ey could otdmardy I in the nstural course of teada, or, i:i other tv.-.-d, bcslons upon ihem M re than tht a sfi ire of j:e SKC'CAate wealth cu atid by the j 'tat fl its of all. must do it at the eipense of the Dlbtra, W e have an illustiation of tins tiuth in the opratioa of tbe eaiating " protective system. " ss ilisstybd hy is asteocasca. W'c are now jsymi increased prices for I , hi irs pf the I true mantilacteri , which ore rotiaequentlv div ida n eseebitaaMl pr. Sta, a. .i v . t tbern fi m 10 to 30 k r cent., OH t ictr investments, hi d yet tlie piicea of wealcrn produce, our alaist c xc!usic leiiancc 1 r met ting this huge and increasing diain oa our a ear.s. are at iho I west : b. V'e need a ay stem that will protect na ahaaafja as practicable, the industry of the farmer and small metha'de as well as that of the weahhy capitalist. T is ooeation to not, ar bet her d at tea on foreign g oda shall be abotitked, I ut what shall be their ejettmif Any amount of duly operates aa a c rn sp ndhag protection to the large msr ct . turer of the rival domestic article, who, therefore, unier Ihil ay stem, must a!was have an advantage to that t ei t over the labor ol the farmer. And ought he not to le satisfied w ith this advantage when created by duties saJtcicnl for a reaionable revenM I It h:!s bo lie, -a priipor.ed in 'ongrex to ri-tltice the tarill oaitiea In-low those estaMiatwd under the n linimsirnliotM Of Wiislllllglail. JeHiTsoil m .M.nli- u Uli 1 he contrary, a willingweaa has been manifcsteil to i Ix-yond them, if found net worary, for tin- ocawuwaaeal apeuditurn of the got el una nt. Many advocates of tbe so ratted uprwtntitt M policy profess to he in favor of a system limit. .1 to the fiscal nc1 1 Milit s of the rmihtrv , : r as it is usually termed, a Kevenue TariaT. Hut und. r the existing l.-mtl regulations, weiimlih.it thai revenue will largeli exceed ihe legitinmte nrnttht of the Truaanry This not unit icmpts to lavish prodigality on the psit of govt rumen t . hut it operati s m an oppressive tax na vi sit ru babel Ii fl t is Iba greater or less rxclarion ol imports, wbn h, as baa 10 ii shown, must limit the aaauawt f ur exports In m correaaunding exteal This n suits dim ily as a twofold injary to the firmer, f.r. by the exclusion ol lri ign manufactures the demand f-.r and n i is ,.. the domestic rfiele whii h be is coai-K led In purchase, is increased, while the demand for the u oduct af h.s own labor, thus ,: uuoii.it. d al home. 1 limiti .1 and tin pin i onseipientIt diaiiuished. The most ttmrottgh fonvn lion is fi It, lb it our embari tssMWeata must, to a . .,ti r or less , xt.-nt. bi' .''fgrnv .od, vx 1 1 1 1 - in h a system continues to exist Tin great mnaa of air fellow t itixeaaa, I n ill not surTer myself in doubt, are wilbng nay, anxious to meet nil our past obligataassa W illi them it is not a uueslioii i n linntn n bm of ability, l!it the exo ut ot the debt, the actual condition, anil means of the State, ami a more thorough examination of the whole stibjei t . hav r only enred to coklfirM me m the opinion I xpn skciI on a lorno r occasion, that k hl In O'l.il our power o no i t our lis. bilttieo, lud. t d. so far as in v ohsei v nlmn ha t XH iidi d, the oainton odvnnced h my pn ! 1 1 IM in tN I st .mtiual nacsaaaea " tavat w cannot now pn the h,i. r M mi our putiiic ileht is universally i uti ituincd uinong the peoplo al tin State Saite the Inst adj mri.mc nt. I have lerrivr.J a communication fiorn B t n, n losing a menioiial fu-rn sui.diy of l ur boadbobii is in I. ' i d ii. i w isctily c mjetent f r me to sckao w bdge its receipt, expieta my naftrvaeaat apito n as to the ability of the t.itc to meet itaeit rlaaaaa, and u j c , to lay the mrmeinl befotO the (jet. rial Assenbly, which I is a coidiagly done. i I. dei uii the circeantaaees, 1 would racaonnaaBd thai provisi u he tn ile hy Uw tot the aj 1 1 intaaeot of tie i nnue eoaaroiassuneiB, to receive aaj wach eoaaaaaaicatasao aa mm 1 he herraff ei addressed to the autho.rn ol the State, in it feri nee le this mattet, io the n wo ol m ikaar an ariaaap ment aa to all cm just iebts, what h, white it w ill baaaa ihe suhJeet witbio em means, v. ill iavc the hunoi of the State, and he rat iti Hftory tOOai W ditoi. Such an auatigrineiit should, i.f couise, bm r be I iading an til ratiaed bp tax Lesjistatasw, or w i. at i- perhaps t et:t r, until canfinaed by a direct vote of the ro;ie. Too I titer, it h oadatatae i, w.. tin- eoaeao ad pted t y Miebigaa m lelatiea to a potion ol In i debt, ami lhal me atrangtaatat was duly i alifa J at the pulls by her citizear. Few anmng u, I hope, would be foiin I willing t icpudi ate any foil chum aii. t the Sfjte, and 1 liave gre.it (ot.fideace that if in the waaaaei ptapoaed, a p;.m fot ex o cm im g the det.t is in. tint t an.) sgiend upon, nc ulnh in teirt'.s will be feasible anl ctearlj hi mgbl within the ability uf the State le meet, that an a;.te.il to the motal sense of the citit n for In approval at the ballot Ui, will not fe ma le in v .uti. The e'tlcment af this .pitsti m w-ou'.J it.ftis,- more of ron11 mm re tiii- sgbosjt the euaaaMBai'jr, weald batasarva the relit of uui catioeas tedividaally, waald encourage immigration ad harten the inaaioveaMal of the eoaatry. Um cie.iitor, tu , when ttiarotaghly iafi irn- .1 i f oei Ire n. ai;d the rati nt 1 1 our moons, wilt, K i boned, boo ibeii own intru st in an early adjuateaeut of Ibra matter, beoaro tbe pteeiit anxiety of the pe.-i le Io discLaig the lt Lt is sUi teJeJ ty apathy and ä t air. In some d the Badebted St ! s the payment of tlo ir foreign liabilittce, by a sate ol their Mfbltc wutha, boobaaan agitated, la iaeor of thai potit v in our own State, it has In n orged by some that nrcnedi tore advanced the laaasa. not tai the ability of I be State to make pavment with its d i proportionate raooaeecoi with which tin v uoj-i baoa nrst made themselves acoaaiated, but n the ex pee ted product i v t nt is of tlie worka fe ihe i iwaati atliua of which the loans were made ih.it they . old he ieäahed more cheaply and speed I by indlVldaal in:trpne than by govt r mat at that v In n t toplei . t w on Id he 'ipj.illy aa profitable to tbe pun haw i- oa ba the St-.te, m sM- vm m Iba propräetor ; and lhafthea eoajld nanfco poaawial for I hem at Ihe coat of ton-lrin tum. in our depn t nited Inirals at par Ma the otlo r hand the advantage lo the Hf B hy the adoption ef atach awbEOiare, it has been Migei i a, WOllId be, that ths, wolhs Woll'd thi.s apt i tllly be rum Dieted, wbtch otberwiat it wonld be impnsaiblti fr tha Btata with her present means and !'!.' to f , -h that the ! i io Si lo . ir ntizi ns would , in lb .t i as . t ;s gpaaf a- though the works were i metrecied by iln rtat that the irogrt -- of tbe w..rk would ;nf . mpht im nt i our labor and a m ark' ' t r our prt dm . and finally . (fiat Wt Sjtatt debt would thus be propaartiunallv atisoibt d I'roviaioo might be madi to hunt the s lea to the nafcnaahed works, t prevent tbe exaction of extratragaol td and n' -. an I that the work- ih n Kt ahoal l uhnwatety rt vert lo and br tin j.ropi r ty of the State Orhoi reaaräc Imns might he added if fowad oaccaaarj aar the liabm oal I o r. -pt t tive parties. I am aware lb ,t b an n't f . ,r l. 'ur of 14', tbe ptivilegt was eetewded to our crestiKwe la pntctsaaa from the ehato nil or any p ut of these arevha arrtaaaat rcBtrictioo, making paynaeat I here lor ia oaf bonds -t iheif lace Aliloiugii no Irassda have been received in this vv.iv.it in iv have aii'iti from the fact, that it not

only requires the joint ac oar bond holdei to maki profitable, but tbef rmiit In s, i ure th ir riebta.

Power m siit MOni is t Begol i latter mode, -ah the IN opie, 1 1 th whole ground, -Br

ut a i r.','i rabb number of h au und. rt lUmg f ;;-ihle or : I ..-ii ir legislative acticn

he

nf erred on the aaaaa Ceeawaaa-

aritfa our credUtoro in iel.ru u to the 1 1 in like manner to the ratification f I .z - inn on a full esaaaiaatiea of tho .1! d en. it ;.dv isahb-

idoptton oi eornc su h mteaajro f r teer itir.g

overture! Innu. and negotiating w ub, one creditors, pse liaaisiaiy to fasal astjaataaent o the wbola anatler, e hall gu striwagef evidence ef thai mm tra aeaan . what b I am satisfied is tell among u. .. r,:iv. t. rcstsaja the h nor and credit ef the Btofa and of its citiaena, than by vagin; and jo in :J pr hwaioni ngainot reaadiate n. By the ait mpantj s rej t i the Adjutaa neral it win be teen, that andei raistirg laws, no uir s of the rtiengtrs. f the rrolitia f tin -ta a have beet : i . teal, ' I that me asetjueice we hsvs 'nn !an 2 oui .jwoti of pallie aims frooi toe Geneial tiovcmmesit cvei mi.cc the yea I a32, on tlic baajiof iht it;, ,t ü.in in Je of it; rtoli aiv titi.-h io tho Wh Ii : tii-it. Tbit genta ia itiaaawd at Mm early va'-ie f i ,:o 00, and at cut aar a tat hat baa I ail e t it j . .. ,J, 'he j'.st uui.utl value, bed e now tap near af raawitaag om stieearth, wiuid aaaoaat ti -t ie.-t j.iotlo vtt. ite.iies tin k. -headv aeUaatd on tht ceteat ince a will Le seen that to t.'ic lJtaat er. rears ft aroabj aajeaait to mote tha 130 JN6,