Richmond Palladium (Weekly), Volume 8, Number 48, 8 December 1838 — Page 2

GOVERNOR'S MESSAGE. Gentlemen of the Senate,. and House of RepresctUticc: You have been sent up,. to this p'aco hy people of In liana, charged with tho execution of most importmt trust. The great interest of the state, bo they civil or political, are almost exclusively in your keeping ;an J never before I speak it advisedly never before have you witnessed a ncriivl in our fo2al history ihit, more urgently.

called, for the exercise of all the soundest an J best

attributes of grave anl patriotic legislator?, than tho. present. Uxtremo prudence anl foresight, frugality nad economy decision an l energy proTn.itness anl perseverence, should unq-iestiou-ably mirk the wholo tenor ot your future con

state, and the expense of collecting the revenue, sour public works; the probability or improbabilwill not exceed ninety thousand dollars per annum, ',ity of receiving anything from them, in the there wiil bo left one hundred thousand dollar to j mean time, has formed no part of any one of the be applied to our internal improvement debt. But j proceeding calculations. Are they to be lost wo have seen that after exhausting all other funJs sight of? Are they to be set down as nothing? provided fir that purpose, that we are behind ( Not if we are permitted to judge from present with this debt lia,S50 dollars apply the 100,000 appearance?. For, by looking to their present ddlars to it, and still we are deficit 40,850 dol-J state of forwardness, we find ninety miles of the lir8. Niw need this to have been? Look back! Wabash and Erie Canal; thirty-ona miles of the fur a rn.-mient an I reflect. If our actual mean-M White Water Canal: twenty-three mifes of the had boin judiciously invested and correctly ap1 Indianapolis division, and twenty miles of the i.tin.l ;.net I nt 1 nor.tip.,1 at once desired and I i southern division of the Central Canal; twen-

strieii'ioisly urged by a very respectable portion

ot thj friends ot Interna Improvement wnat would have been the probable condition of the Treasury at the expiration of this same year '39? Set dwn the 12S,112 dollars which might have linen realized from the means, exclusive of taxi-

duct ol legislation; for it is by lhce only that sue-i ag j 13t SK)W,N an under it the 100,000 dol-

cesscan oe insarnu 10 our spieuuu enterprises j.ir9 derived from taxa'.ion and their uniteil sums a speedy anl adequate realization of profit to our j gjves lnc trtlo an,Wcr to the qiestion. That is

many iur.nen3 ani expenuuures, anu j , mtre axn'tcit, these sums show tirst that we

tv-two miles of the M-ulison and Indianapolis

Hail Road, an 1 f rty-tw miles of the New Albany and Vincennes McAdamized road, all completed

and ready tor navigation or using in the spring

able until you shall be aide ta take hold of it effi-, scrutiny, how rare successfully can he accom- lington? The W baal.Il" j ciently requiring every improvement made up- j pl.sh this, than to jcin in a crusade against the ' July, August. SeotemW "J-aS? h W on it to be made with an eye to us future com- Bank? The Bmk! Why hostility to the Bink livable from eitS r Ik .Ctober r pletion? This I think you may safely do and that , or Binks has become, ia thesa latter day a, a kind j' For here is a difficult th V'nM' wht tW toowilhout subjecting yourselves to the obnoxious of universal panacea a curelbr everv disease of land that too every Wk me,,'UWJ t ai charge of ex tending the system. political princip!e,tho vilest leposy of FeJeralisin ! r,uire of the Unit.? . "VU III!

"ilre ot ihu ITn.t. i

With such and You bound tour..!,.. " . Va Jcw

so many temptations, thcretore.before him.woaM tt.. ? J t IaJiJ

Indianapolis Railroad is now nearly exhausted, so - it not be safer to limit his discretion somewhat ; to ' th0 Wabash at naribl " Uk f

uen.io dv uw, the proper sphere ot lus action ; right of free wav to ibJm 1U.7 Vl" in a word, to lurnish him with an mstiument thu (And is either Lafayette orC jtinVI ' t he may use whenever charges and complaints are j points? You sea they are uil JlTL preferred against the Bmk, to enable him to de- ! cannot be for severan .nth, itTk lt termme before he acts whether there be anyj ist j reply could Inliana make? Ha- JLif

lounu.mon ur mom or n it. Ha himself, cannot cum hor!f r... .k ' 7 1

The sum appropriated by the Internal Improve- ' may even bo made while by it.

ment bill to tne construction oi the JUuJison and

much so that to prosecute it further or even with

the requisite energy, nn additional appropriation becomes necessary. That this will be done, I cannot for a moment permit myself to doubt. It would speak but poorly indeed in behalf cither of the wisdom or stability of the State to refuse it.

an unabated confilenco in our own ability and resources.

, The truth is and it would bi folly to conceal it we have our hands full full to overflow ing! and therefore to sustain ourselves, to preserve the credit and character of our state unimpaired, and to continue her hitherto unexampled m trch to wealth and distinction, we have not an hour of time, nor a dollar of money, nor a hand employed in labor, to squandor and dissipate upon more objects of idleness, or taste, or amusement. We have the most pressing need for the whole of them.nor thia ontv. we roouire that they should be con-

should have had in the Ireasury at the expiration of lS'J'J, 223,1 12 dollars and secondly that instead of being minus -1G,S50 dollars, we should have paid our whole debt, 192,350 dollars, and had a surplus left af 3tS,702 dollars. Is not this difference a very striking one? It most assuredly is; and yet it is just the ditTerenco we may always look for between good and bad management. It is not necessary, nor would it be proper, that I

i should undertake here to explain the cause of

( such results. I shall fully accompl

11 jvin.-T nihwlfrf tiknur sf:itf I. inlr nnH havmiv inn this lit vaiiiiiiv I.. n, I . : . ncraK?:

.. . ....... ..... i.. , ..... , v.uuwi urinmuna iu n i t ion SlVinir Ihit .. i . "fV

We find, furthermore, that there are now under i repeatedly intimated that wo might probably use ( single question; but you can; you can appoint an 'sist her t'l the month of T 7 i, contract fifty-five miles of the Wabah and Krie ) it as an instrument to relieve the people from the i agent and can clotho him with sufficient power to j she not tnke more! The ,"cllnoc' Way Canal; twenty-four miles of the White Wuter j threatened burthen of taxatiou, prudence suggests, j mike any investigation desired; you can compel' navigable poiut to the other"8 " Canal; firty-lhree miles of the Central Canal; 'i however, before the adoption of such a measure this Agent to report the result of bis ir.vestin- foreign interference the act a reot twenty-five miles of the Cross cut Canal; seven that we carefully scrutinize its capacity tor such tion, both to the legislature and the Executive, ' public servants the agents to tP,n,e rn niiies of the Erie and Michigan Canal, the grad-j employment. Especially so, as experience teach- i and to hold himself in readiness- to enter at a mo-jfbr her. Don't vou see at a ecl eiltW ing of twenty-seven miles of the Indianapolis and ' es us the fearful lesson that there are limits be-iments warning, any Branch whenever so directed ficuli, nav how utterly imixisf bl',C ,rj4t I .f.i-oiin n.i.l- fiftv-thri milps on tit( JffHtr-! vonif which if Rankinv nriviiefea and R.niLinrr bv the Executive and to riaminn l!i rrmir,l .f I . i- -. - ."i. woulj 1

" :'.r r;-' v i ' .: ..:., . r n :. .L ... .:.;, -!."-.. iiirni m omtea stated

sonvillc and Craw fords ville road ;twenty-six mdes (operations are carried, they cease to do good and i any accusation that may bo lodged with him a

and j become engines ot incalculable rniscmet. In- I gainst it. 1 o me, this appears decidedly the bct-

results. 1 snail tuny accompusn my oineci

if I can only succeed in presenting our past er- : mpa In ark tialinl n IirrKf a Q t it flrnllSf ft Ikf! stimil-

centratcd as mnch as possible, and skillfully and j ,.to you tf) the prsuitand adoption of such mea-

energeticauy appiieu to me greai iuine ( 8urcs as In;iy ,IIOKt efloctuallv avoid them hereat- .. If I. -. . I .. nl.r..l I . . - .. .

hand. If such a result can be brought about !

tcr. Indeed the necessity of so doing will strike

1 would mucn sooner suomit to the inconveniences of increased taxation than to see the State for a single hour flooded with depreciated or irredeemable bank paper, the offspring of our own institutions. It attempting therefore to escape from or elude the one evil it becomes as you see tube exceedingly careful not to call down upon ourselves the other. Mv recommendations would perhaps, in the

Governor would then have something substantial.

j ujHio which to fix his reasons of belief the fuels.. j reported by tho examining Agent; and, above all, would tend to insure a close, cautious and ligid I administration of the Bank affiirs. For none, 1 surely, with such a rod suspended over them, would j dare for a moment to transcend their powers, or j practice fraud, upon the couimunily. The Bank,

I hoid, belongs to the people; was expressly ere

on the New-Albany and Vincennes road

four miles on the Madison and Indianapolis Rail i deed I think I cypress no more than the common ter course; better for the Bank; better for the Road, making, altogether, an aggregate of two ( sentiment of the people of Indiana when I say. that i people; and better for the public generally. The

hundred and twenty seven miles of Canal, Rail and McAdamized road completed; and two hundred &c sixty-four miles now under contract; besides the dam and lock, and all the improvements necessary to overcome the obstructions nt the Rapids of the Wabash River. Facts, certainly, which most cheoringly demonstrate that let our

Legislative supinonss, or improvidence, or mismanagement, be what they may,that neither the

Board of Internal Improvement, the Engineer i course of time, lead to the addition of some four 1 ated for their convenience mid benefit, and should

nnd I seo nothing but the illiberal opposition "fj VOIJ wjth tenfold power the moment you reflect I Department, or the contractors and laborers en- j millions of dollars to our present Bank Capital, i on that account, be so conducted as to attain these

local or individual interests to prevent it -1 ntave 1 ,fat n our plana r:ri:l operations have Ijeen fr:irieiJ j p-aijetl upor t!io works, can bo charged with like ! Would this be too much? Would this in other i ends. It ought, therefore, to be held responsible no hesitation iu saying that Indiana s S,'H saf i jn so large a scale, that if we attempt to carry J defaults, or with having been wanting in nny of j words be more than the reasonable wants of the j to them, and thrown open at any and all limes to and that he must and will ultimately triumph. them forward, our present amount of indebted- the essential requisites of energy, or industry, ' community require? More than would be neces- ; their scrutiny nnd examination, when sought for To make these things sufficiently manifest I noss must be swelled within the short spare of ! or perseverance. Whv if the same spirit, the ; strv to keep op and maintain a sound and healthy ! in tho ripht way. Indeed, 1 have no doubt but

seems to me, both right and proper,tuat we should thft neU f(ur venr ,lfl tu tilo sum of ten millions j s;imc energy, and the same perseverance with - action, in and between the various departments ; that the investigations nlrcadv had, have been of

attempt ncre wnai some peruap wouiu , of .lar,. r, therefore wc husband our means ! a little better management bo only kept up, we ciesof political reckoning: lit other words that ljld resorce3 n better than we have heretofore Shav confidently assert that bv 1813 the Wabash we should carefully endeavor to cast about us in , joneif we continue to scatter and divide and and Erie Canal, at least to Covinsrton, if not farview of approaching difficulties, to ascertain, if dissipate them iu the same wild and reckless man- ther; the White Water Canal to Hagerstown : the we can, our true position, the exact measure ol i nerj,ow think you, shall we ever be able to j Central Canal from Evansville to the feeder dam our strength embracing ns it must the full lex- mcetand liquidate the increasing demands against ' on Whito river, and from Martinsville to tho tent of our several means and resources. Such th(J Sta,c Wlltlnut unnecessarily pressing the peo- j W..bash and Erie Canal ; the Cross-cut Canal; an exhibit it is very evident will,better than any , snakincr their confidence in our noblo enter- j the Madison and Indianapolis Rail Road; and the

thing else, prepare the penplo to act witn me pre: an(J blasting at once the best hopes and the ! New Albany and Vincennes McAdamized Road,

highest prospects of State Improvements. ! will all be completed and in full operation; beBut whilst I am thus comoelled to expose so sides, considerable portions of the Erie and Mich-

tinspaiingly tho mistakes of the past, to draw so ' icrao Canal; the Lafayette nnd Indianapolis, and gloomy a picture of the condition of the present ; the Jeftersonville and Crawfordsville McAdam with the moral certainty ahead of the rapid in- , Roads . Can it, therefore, with the least shade of crease of debt nnd difficulty, things so odious to 1 propriety, be said that nothing can -r ought to be us all. I take the utmost pleasure in assuring you as j expected from them in the mean time ; in a word an offset to these, and as a guarantee for the fu-' that they aro to be only a burthen and an exture, that the ability of tho State, that her rneaui1 nense to us? Strange if it would!

it at of

t or rerre-II .! What Mom,

y whs, mat nine it.ited Staiei rwj

way short of Terre-IIauta?

hy suu

claim and enjoy this right of free way, IrtnZ claim auu taka th l..tw. .i..

as th

great service, both to the bank mid the public; for

H-hilo thev have rendered its officers mere care-

! ot our agricultural, mechanical nnd commercial

i interests throughout the slate? For beyond this ,

i we ought not to go. In attempting to answer these t fi-l and diligent in tho discharge of their duties.

'questions, 1 confess that I find myself circuinscn-i the bank has lost nothing m the estimation and

necessary prudence to decide upon the bestmeasures, and to fortify themselves and the state most ; successfully against the sevoral shocks of anyj nnd every trial. j In tho prosecution of so desirable a scheme let j us, ere setting out, accurately determine first,! what the present liabilities of the state amount to, nnd secondly, what sums must be annually raised to meet or liquidate the demands accruing I therefrom. By referring to the reports of our i Canal Fund Commissioners, we learn that the ! State has borrowed for internal improvement i purposes up to the first of January last, three mil- j

lions eight hundred and twenty seven thousand !

One million three hundred and twenty-

lied by very serious dinictilties. 1 lie most important facts facts too without which no correct decision can bo had are not within mv reach: no

and resources, if properly disposed of, will and !

must continue to augment in a corresponding proportion to the demands and liabilities that we anticipate against her. Suffer me then to make this gratifying assurance evident; to marshal before

you as briefly as 1 can the vvaole ot tnese means,

confidence of the people. Among the several items which I have enumerated as composing one important portion of the

steps having been heretofore taken either to gath- State's wealth is tho 201,021 acres of land 'Hiier or treasure them up. Who for example can tell i mated by me to be worth 1,707,714 dollars. II.iw me the probable amount of our own exports or this happens or from what source it springs miy imports the past or present year? Who, tho a-j possibly need some explanation we derive title m.unt even of our agricultural produce, the basis j to it from an act of Congress passed March 3rd, of all our wealth, tho basis upon which all sound j 127. This act grants to the State of Indiana nnd safe calculations at least so far as Indiana is iufor the purpose of aiding br in opening a canal concerned, can alone be made to rest? No one. j"to unite at navigable points the waters of the In truth, throughout the wide field, there aro but) "Wabash River with those of Lake Erie, a quautwo facts observable that shed any, the least light !"titv of land equal to one half of live sections in

upon this subject; and these are the sum total of ''width on each side of said canal from one end

Luiisiuerauou lor that rit i r

General Government has virtually ackiMU,lI the sounJncssof the principle, her'e contender by allowing Oh.o.under Precisely .;.;t "

stances, lands for the extension ofth

mung on i.ake Krie. I hop I ro,y t dotted forso tmniitn nn

vt ... 1 . "wuo oi this

e sanweiMl

fttfc-

joct. .My only excuse ts iu imiKirta.- .

conclusions be correct the State is enti.w Z near three hundred thousand acres Vl Z SLj than she has yet received or tnUn, propTr?! certainly of too much value, and i JJT.X circumstance entirely too neectsnry to strenVik! cn and sustain us to be cither given up or Xi without a Btruggjj. I si Tho line of this cnnal extends alonr the W. bash river trom Terre-Uaule to the Ohio stMo !! which according to the rule ngreed on soma ago, between our then canal commi3ioi.i.r. .i

the commissioner of the General Land off

mna to take and dispose of 637,304 1 3 15,CS0 acres of which have been

dollars:

even thousand, for tho Wmbash and Erie canal, , m Qrder ,hat you yourscive9may determine wheth and the remaining two and a half millions for the ; ef mv opinion be weU founded or not.

ooiiern oi our otner worKs. upon tno wnoie oi

this sum, with the exceptions of a hundred thous

iv opi

Tho first item, that presents itself, to be set

I have now finished, as briefly as I could, what I our population, and the aggregate of their wealth; "thereof to tbe other; to be disposed oi by the Leg.

I promised in the beginning to endeavor the as- (all else connected with them is more or less wrap-

certainment of our true position the exact meas

ure of our strength embracing the extent nnd character of our several means and resources. The"facts, the conclusions and tho recommendations growing out of them, I leave with you, that you may dispose of or give to them whatever weight or consideration your better judgment

Secondly, 90,000 acres of Wabash and Erie Canal lands, lying along the line of the said Canal between Fort Wayne and Logansport, worth on an average 10 per acre,

1 hirdly, 20 1,021 acres of land more

and dollars, the stato pays an annual interest of five per cent for tho hundred thousand she pays six percent. Which makes her interest account alone for 1830 amount to one hundred and nine-tv-two thousand three hundred and fifty dollars. This therefore, in part, furnishes an answer to our second query, inasmuch as this is tho sum to be provided for and paid by the state, not only for the cominrr hut for many succeed ini vears.

With this knowledge before us the question the ! selected audio be selected for that part

important question! forcibly presents itself, what of the same canal he t ween the Tip

VJT lailJIia 1 1 l 3 WW vs fiTuut;.t;p3Uia , enable us to discharge so considerable a burthen? Independent of taxation, I confess that I can name but two items: first the interest arising from the

balances due upon the sales of canal lands; and, secondly tho proceeds of the third instalment of tho surnlus revenue: both amounting to not nior8

than forty fivo thousand dollars, which substracled from the ono hundred and ninety two thousand ,

three hundred and fifty dollars leavos a deficit ot

down as constituting a part and parcel ot these ma aiciate. i proceeo in me uu. H1'"-"-. " cy means, is the capital we have just been consider- i amine the mode or manner in which our public ing amounting as we have seen to $1, 420, 12 j wrks have een prosecuted. Unless I greatly

t err, ine spiru oi economy may jicnmucu w

1 - C I 1 . 1 V

pea in tne misis oiuouot ana uncertainty. Hence the enquiry resolves itself at once into this; will a population of 700,000 inhabitants, possessed of property, the estimated value of which is one hundred and ten million of dollars, justify the establishment of a Bank capital of six million of dollars? I think they will: and it would be no difficult matter to sustain this opinion, by the experience

of sound Banking operations in other States did

"is, mure oi tne otate, lor mat purpose anu no "other.1 Subject to the following condition : "that "said canal shall be commenced within five voars

'and completed in twenty y

"shall be bound to nay to the

"amount of any lands prev

grant the State accepted; she commenced the ca

nal within the five years and consequently enti-jon the line of the canal have long since Ik tilled herself to all the benefits growing out of it. i by the General Government av it 7-

crs

dy selected, or are in the way of selection liJ for that part of the crtnal betweon tho Ohio tltt, line and of the mouth of the Tippecanoe rirtrttf Terre-IIatite. The act of Congress, yon will bserv e, makes it the duty of the Governor, or tht person having charge of the construe'ion of lh canal, to examine and ascertain these lioJ. .1. cording thereto, as the Governor of thetiata.ttuuk to my assistance, Messrs. A ustin W. Mttrns, IW glass Miguire, and Judge William Ioik, mnj ring the past summer neleclcd 73,710 aerctofUik Itnd, and rcporicd the me to the secretin

the 1 rcasury ot the U. States poslponinff'.art! selections to a future .lay. These lands hepr cipally in the counties of Msrshall, Ftiltm ml

Kosciusko and embrace all the Indian IImim

That

resrt totbtt

by not take them on the line oftbeean&l'

For the simplest nnd best of all reason, the UaaV

been M

eu w.uiiii u e yoars i i(isriusKo nnd embrace all the Indian r ears, or the State so called, that have yet been surveyed, e United States the jquiry may possibly be made, why resrl iously sold." This J lands? why not take them on the line of I

1

000,000

But the act, you perceive, names no certain quan- j which fall to the rhare of Indiana; and thenfan

time ttnd the occasion permit; but lest in this i tity ol land whicli the state my take ami dispose j the late Governor, shortly before retiring fromafJ

enter here and become a reformer to a very con

siderable extent. Many useless expenditures may be avoided, and the system conducted in such away as to render the works more speedily productive, and, consequently, less burthensome

to the people. And, here, permit mo to remark,

that my views, on this branch of our enquiry, have uudergono no change. The plan 1 suggest1 7fi7 7111 "u 1 wei v e inwuu - - - i, ttt j honor 0f delivering from this place, on taking the

CI 000 S7- Executive Chair, I still adhere to. Indeed expe- . , , c . . , , j.1'" '0 rience since has only confirmed mo in it the more Fourthly, the fourth instalment of . What was it? It was simply to con-

the surplus Uevenue ; due 1st. Janua- . - (f , re the Mme ianguage?) "the

ry

there might be error, I would recommend that the increase be gradually made, and that steps be taken, in the mean time, to procure the necessary

of: and this is likely to occasion us some diflicul-! Tice, opened n correspondence with the preifm ty it merely establishes the rule by which that commissioner of the General Lund Office, in wliid

quantny may ne ascertained, it must no equal he requested that oltieer to withhold cruiu Town-

information such as I have just named, to enable i to one half of five sections in width on each side of j ships and reserves of land from sale, io order thai

on average not less than t per acre,

you to graduate this increase judiciously nod to

stop short of the limits which common sagacity and prudence may designate. For I hope never to hear it charged to Indiana that she converted her Banks into swindling shops, or that hho coun-

' i "menns of the State oa portions of each work at

of oui

Does this look like Bankruptcy?

K..nri,,l ,t f.-riv air thousand e'nrht hundred ! our onward career must terminate

n.1 fifi 1rUar. to t. levied out of. or charged distress?

i ta upon the pockets of the people. If this developeinent does not startle or astonish, it should, at least, it occurs to me, wake us up to a lively sense of the critical peculiarity of our situation, and of the absolute necessity of our di

recting more ot our immediate attention anustu-s

dy to our financial operations than we have hilh-1 ertodono. It may be asked, and with the greatest propriety too, is it possible that the sum of j forty fivo thousand dollars, is all that our means, i exclusive of taxation, is capable of producing, or of being applied to the extinguishment of our yearly burthens? To answer this question satisfactorily it is requisite that we should examine facts. On the first of Januaty last, the state had sold canal lands to the amount of 516,804 dollars: 36S,000 of which remains in the hands of the

$1,333,623

"the same time, commencing at the most profit-

' r "ntdo nA rnmrnprriii noints. to be designated

As though ; Legislature or the Board of Internal Im-

lii rum anu ; .t. nnrtinns resnect-

VI.r ckmilil it? Ilarn itarlrar limn- ' r . . ' r ,

.IT .'ll.'ll IV. ... " " .....

cumbered capital of at least four mi

lars absolutely at our disposal; a cap

. j "provement; to complete tnese portions resjiBnaclcar limn- jivej beforG others are touched; and, as soon as t 5 "completed, put into use in order that the State itai that ,n" , ,.m.iy be reaizing something from them whilst

or manner whatever. By tiie courtesy of ono of its officers for the charter gives the executive no right to call on the Bank officially for information I have been permitted to learn that the operations of the Bank have enabled her to make an annual dividend of lOpercent.; thatafter paying the interostou the amount of the capital borrowed 1,300,000 dollars she has accumulated a sinking fund of 270,030,50 cents. Facts certainly which connected with this

the canal from one end of it to tho other. The ! the State might satisfy her claim out of lliem.J

length of tho canal therefore must be the great j This, it nppears, has been done, and tho bind governing point; for evidently, the greater the . have selected are a patt of them. lWwer tb

length is, the greater must be the amount of lund j commissioner's reply in short, the whola coritJ

tho state will be entitled to. Tlg.im on tho score pnndciiee I beg leave to refer you to, nlr

u ncnner uxes tne navigawe poi:j:s to uo uniteu, ; tuoi; 1 liave here advanced. I nbo ike plM,

iui iiiiins ma iuiiiuu. i.ju cuii.u inn icaved iiicm ; in laying iieiuro you, a J nt comiiiunuvimi t both open to be afterwards settled by another nu- j dressed to me from our entire delegation iaC thority. The question then occurs to who.n Una gress, together with the individual letters fd

tins authority been given? Or in other words m whom is tbe right So locate this canal vested? In Congress? In the President of the United States? Or in the Stato of Indiana? Unquestionably in the latter. The act expressly gives

it to her; lor those are its words, "that so soon as

vested either in liank stock or in loans upon mori- . n r finisuilltr thfi remainder.7-'

irjifre. must nett to tne state, not less man eigm

'o111 i Wa iKIa nlon nnntpH? Hnit beeiiaCted CI1!

per cent. d20,000 do Wars per annum.i.et tne Veverse. Cast your eyes over the map whole of this be applied to the extinguishment I. . . . , ' ... fi , nnr.;ons 0r

I . I . 1 I I 1 A I . I 3 I ( vm -.w 7

r UUDt anu wnai wouiu uo mo rcsuns .i r t. remotP.

from

other one no less gratifying to our State pride "the route of the canal shall be located and agreed

of the acknowledged credit and solvency of the i "on by the Siato, it shall be the duty of the GovInstitution, speak, not only loudly in its bohalf,but '"ernor thereof or such other pnrson or persons ns augurs well for it in the future. In addition to ; "may have been or shall hereafter be authorized the foregoing items, I have also learned that the i"'o superintend the construction of said canal, to present capital of some of the branches requires ' "examine and ascertain the particular lands to no increase while others do; that some declare a '"which the State will be entitled tinder the prodividend of ten and twelve per cent, while others : "visions of this act and report the same to the

Hons. William Graham, James Kariden, Gawp

it. ujiin, and Albert . White upon the Mow

ject. . vi.s-

in relation to tne lands selected, a rttart j which, with the necessary maps, tract bookt, Its.

wiil in due time tie laid before you. Iuii quest that you will provide fir the sale of liw

at such times and on such terms n yoamiraet most advantageous for tho general inUreRtftiM

state. The third nnd last section ftlt

Congress making lhj grant as aforesaid, tiv

ses the slate, after the selections aha II bwatonj made, under the authority of the legialataft,

sell or dispose of these lands and to make the pa-

chasers a valid title. - '

On entering upon the public lru4iroali thm

selections nforesnid, I found the great mapitj t

4

would leave, to detray the entire interest on our - . , instances it i only divide seven and eiaht. Circumstances v- ; "Tieasurv of United States."" There is certainlv

anticipated debt of ten millions, only lMO,OOOdoI- . ire the ,abor of two or three years to j idently which should not be lost sight of when you ! no ambiguity here; the right of Indiana to locate lars, to be raised by taxation or trom our public t lh t0rether. What must be the con- aro making provisions for the increase of their ! the canal and consequently to fix tho navigable

works, aucn uemg tne case, let us enquire wuai , 8equence why that the money expended upon ; capital, or particularly when vou ore determining j points, as well as to determine its length cannot the finest tracts already occupied by iadrvidai'i we may set down the value ot our taxable pro- j them must remain just so much dead capital until j to invest the State funds in their Stock Policy for a moment be gain said. Has Indiana then ex -j who had settled Upon them wilh a iew I

Perv l y llV ,ne 1 w" Tk- T ' he connection between them can bi affected. j and expediency both seem to dictate that these j ercised this right? Has hhe in the language of i States pre-emption law and who, on tb fci 4 probably reach nine or ten millions? 1 nis value ; 1T i k..;,,- ,uoa K;rtinno in a irreat i r,,r.rt. r,u i,. nij iKnr u,..,.m n i ih net nntn, nn,l arrmoA (n i'n r,.i ..( it,- : ,t., i..., i i j.. . j ml

IJUV llty yilXIM V.t .V J W -' J - ...... 1 . . . 1 . J ai.uwiu 'u.l 1111 I .1 J "Vlill. Ul I j - - - - ...... " f, ' v- ...v. . v. . . . vj ' ' I . . 1 U ' fl- limi IIQII IllHUtJ IIVl!lt3lll if IIU . i .... 1

provementSjOn iiicm. Io avoid a coitwiua terests with so meritorious a class of our f citizens and to secure to them all the beoefia this (aw, I ronght to ennble myself to nwks lections elsewhere by requesting the comma erof the general land office to instruct the ters of the several land offices thrn'out tha t; to withhold from saleaU lands I wight !! mv filtncr Mfith i hem in their resoecuv lTia

schedule of the same. This request I refitt

tho present year, if the assessment had been correctly made, amounts to not less than one hundred and ten millions of dollars; by 1812 we know

. .... . . 1 .l.llt - .1 . -ttl . I .i.i ! i.L l 1 I ... k t I .

measure. 1 he same extent oi worK wouiu e j times ne tne most avaiiaoie. r or snouiu Me wants ! nai r nne nas, anu as ner statute noon snows,she completed by it in tho same time; but with this j and interest of the State at nnv future period ren- ! has fixed its terminating point t Terre-f Iaute on

Oliars; Dy 1C 1 we Know ; . Dj ji4t , ,h , ...V, ;i p ft, , 1 atternortionsare i iler lhr sjiIa rif nnv iirtinn friier lrrL- i.fQ..i.if I the. Wahn.h river. Who then uhieeiu Irt Itilu?

purchasers subject to an annual interest of six per j that six millions ot acres ot land must tie aoaeo compjeliniT .iiefirstportion completed would be in it requires not the wisdom of a Solomon to decide, j Or rather who has a right to object to this? Con

cent, leaving, however, 178,801 dollars together 5 to me lax list, wnicn on ir.esuppoMuu.iuntu.ey ! Use,gathering tolls and benefiting the cotintry thro' j that stock in branches that divide ten and twelve ! gress? The General Government? Neither, with 22,080 dollars, tho purchasers interest fori will then average what the lands subject to taxa- , wh,ch they pass. Am I asked todesignate a course (per cent would sell readier and command a better 1 provided Te're-Haule is at a navigable point on

1838, in the possession of the state tor invest-: tion, now average tnroiignoui tne aiaie ,iu per: thulwouj lkeiv iea(j tosuch a result? Topontout j priCe than stock in branches that divide onlvsev-the Wabash River. Perhaps it may be asked are

err j there no reservations whatever, to be found in

ected? most egregiously, would feel that a profit of ten this act in favor of the United States? There are

ment. The state had also received from the j acre, we shall have a clear addition ot sixty mil- . h te ps bywhicha reformation can be safely cf-i en and eight. The tax paver too, unless I

Trnnmirv rbfthf ITmtpil Stntf RtiO.'25-t dollars. lious of dollars to the present sum of taxables

thre foorih of her sham of the surnlus revenue Leaving the increase of personal property out of

- I I 'J .

most egregiously, would feel that a profit of ten

I propose and recommend first, that the Boartf oft and twelve per cent, on the Stated capital would w and but two. "The right of way ; and the

making in all 1.429.128 dllars.-This sura there-! view altogether, still the facts show that we may j , , T' k ,rmi,j k ! nrr-!nn mnrh lirhior nmw on hi r-u "altpmatfi np.rtinna from nnml rf th V .i i . .ntA whirh left me no ottttf i

C ' ) . . . . . ; IlllCliiai UU H.lt.llM.Vl, IllUk II L7J ...... ......... .... ...... .-"1.V.., IIIUU . -. . ...... ...... . .... .JHU'll I ' ' .T.T ..'lil .('.V ...... ... f 1 t.L ; n.. ..t Ka n.nr.r..i.ror.a rin!nn!ihl ralcnlatfi on havinw in the state bv t ,. (. . . ! . .-.l. h-i i- . .i i .t i--.tu.t - ... I Imn 'J

i-i.. i i., .vii-Miuini ui. n.ii u.miii.iin..,.n. . -- - - - , ma5e hereafter toconsisioi out tnree members, ; a proui oi seven or eignt. nereiore l would re- me ouier in uu aeiecieu oj me commissioner oi i ternative out to continue m .irvii r id. n-n. r. il...u,ii-.n;ial.n-ll.nr: HI.. iiH mi inn. of t-tabl-Droocrtv. l'.ven at i . - . I , i i ?.j-.r.. i.l . . . . t. . i ma'

of the present year the absolute capital capable of j 112, liO million? ot taxable property, kven at o bj electej bv the legislature, regardless of lo-1 commend, if vou resolve upon such investments, i "the General Land Office under the direction of j public lands not brought into market. Am productiveness which tho stato held at her dispo- j the present rato of taxation, this amount woiild ; caUv of placewith a fixe(1 sai:.rv each cf fifteen ! that it be made the duty of the President of the "the President of the United States." But do I my letter together with the comummWi rr

al. 1,001,128 dollars which we see was money j produce joo,vyv dollars, add too tax on tuu.uuu , nundred dollars pet annum; that it be made the ! State Bank, and the State Directors on the Slate i these, I ask, give to the Commissioner of the Gen-1 accompanies this communication. W"rtT I

in hand, or winch had been in hnnd. ti proper- pons, .u,uvi uouars anu u.u uo.0 rn.iiuo t.- , , f f . . k char-, .,f F-- Board, to distribute the State stock and to nlaci. 1 eral Land Othce.or to the President of the Unitfd i ;oiic to the worthy ettlers. 1 totmm

1.. . : T . - 1 1 1- - I - .... .. l.I.kl- IU. W ') H ho in tho n-mhlvirhn. -.! . . ... . . ' !-. .. . .... . - . . ' .

iy nivesieu in wiik siocn lor exampie-wnui i 'u,)11-, , , , 6 r and Michigan Canal, the Wabash and Erie Canal the State funds especially where thev would do i states a ngnt to say to Indiana thus far shalt thou should this latter sum have produced? Not less j 305,000 dollars, deduct 10o,000 dollars tor expen- . LotTans,Krt. to superintend the sales and col- the most good and produce the greatest profit. I ! go and no farther this shall bo the terminating

than ten per cent, or 10l,l 12 dollars, as the oper- j ses ot collection and the ate uovernment, and ; ,ection Gf the interest on Canal Lands, and that ! would devolve this duty on those individuals be-i point of your canal and no other, or even to iter

ations of the Bank for the same reriod most tin-! we still should have lelt 200,000 dollars to appro deniably prove; add to this sum the 22,0S0 dol-i priate to the sinking of our debt: more than sufri

lars, the interest on the 3bS,000 dollars and we have 128,132 dollars as the whole amount which

might and ought to have been produced from the

State's capital this year. Yet so it is, when we come to close our accounts, and to pay our debts at the end of tho year wo find the proceeds of this capital so disposed of, or the capital it-elf so man

aged, that we can only n u .ter from it 4d,500 dollars to apply to our Internal Improvement dues. It avails us nothing, I apprehend, to be told that 44,000 dollars in addition to the 45,500 has been realivred from the same capital, and distributed aniong the several counties of the state for school puqioses our debt has not been diminished by it;

the same heavy deficit of 140,850 dollars still stares us in the face; and, what is more mortifying than all, the fact the humbling fact! that by our miserable mismanagement, heretofore, there has been lost to tho state, this single t ear, some $3S,G12, (the difference between 89,500 dollars actually realized, and tho 128,112 dollars that might hare been realized) thrusts itsell upon us, whether vr will or no not to comfort not to cheer but to upbraid and catechise us. And will a change of position, or the enlarge

ment of our field of enquiry so ns to embrace

within its limits the whole of th State's means, taxation and all, better the foregoing results, or give to our affairs a more comfortable aspect? Let us see. Tho value of the entire taxable properly of the stato for 1S38, a? evidenced by the returns of the several assessors, amounts to about ninety eight or a hundred millions of dollars. The sum io be derived therefrom including 89,000 polls, according to the present rate of taxation, may possibly reach 190,000 dollars. . On the supposition th?n that the current expenses of the

of tha remaining l cause they can always command a full knowledge

Give to this Board ! of the capacity and wants of the different Branch

es and above all because they are elected by the ; Legislature and would therefore be held more di- : rectly responsible lo the people. ' Now that I am on the subject of the Bank, I seize the occasion to call vour attention toanoth-

can be, without endangering their sacrifice, and

the proceeds, as soon as received invested in the same way. For nothing to me can be clearer, than, that so long as the State can borrow at 5 percent, and can invest her own funds at 8 5ol0 per cent, that it would lie not only the extreme of mismanagement but the excess of folly in her not to do it. But perhaps I may be told that we shall not bo able to convert our lands into money immediately; that one portion of them is still unredeemed from the thraldom of the Indian title;

true, but then is there no way to provide an antidote for all this? Suppose vou increase the Bank

capital another million of dollars, and apply the profits to make good the deficiencies that may result from such a contingency see you not how completely the object would be attained by it? Indeed 1 am not so certain but that this would

be the better policy even if the state could dispose of her lands now; for all I think will admit that the longer they are withheld from sale in consequence of the rapid increase of population and improvement atouod them, the greater will bo their value. Thus far, scarce aa allusion has been made to

the other two have the care

cent to pay u.o uooar, runc, , ,h wef of employing and fixing the pav taxation or from our public works or Varies of engineers." The Board, as at presBut the whole ot these estimates and calcula- ent constituted cosU the State eleve'n thouHsand tious, you will perceive, are based upon the S"P- four hulldred and ninely.8even dollara and fiftv position that you will take immediate steps to. As I propose to constitute it, it would

reuaer tne lorego.ng means prooucuje oy invest-; Qny thoU8and five hundred doIlars a er matter connected therewith. In '.heir anxiety ing them as speedily as possible in tne most prof- Showing in favor of the latter proposition to guard the people and the public against the itablo fund. To this e' 1 pect- asavi to the 5tate of uear seven thosalnd doI. evi!s which Banks unchecked bv any supervisory fully recommend th:.t the 200.000 dollars already arg annum SecoadIv,lhat lhe 9evera, corps fVOWerf are but too apt to generate, the Legisiaderived from the sale of the GanaL lands be con- of EnKgineer9 be so organized, by the Principal j tore, among other things enated, that when the verted .uto Bmk stock; and that the remaining p that but ce allowed toeach " Governor of the Stall shall have reason to beiinoM l.inH-j ImHisnn-iM of aa Mr V 3 thev wll r ! .. .. . . . . . . . .

r . . . " I wnrb II thia mAnatiro run nnlv ha r n rrmsf turn - fc lifvf that trip t .hnrtpr na riAti vinla trf it ma v

important results must follow: first a great di- ; be lawful for him to order a scire facias to bej

minution of expense to the State; and secondly, , sued out, calling on the Corporation to show the prosecution of each work systematically. ' "cause wherefore the Charter shall not be declarFor then tbe Board would be compelled to ed forfeited." I3 not the discretion of the Govcomplste as they advanced, and to concentrate 1 ernor here a little too unlimited? For what shall the means of the state in the manner I have sug- constitute the sufficient grounds of his belief? gested. Hal this rule been established in the be- Mere rumor the exaggerated reports, the highly ginning, the scattering system, as some have call- colored representatiens, of perhaps, disappointed ed it, could never have been acted upon. or hostile individuals? fie has no authority recollf these measures be adopted, and the means 1 lect, to institute an investigation of any kind; no

of the State husbanded, invested and applied in i matter how fictitious or how unfounded a charge

the manner I have proposed, the State, I feel as- against the Bank, may be, he has no means of

sured, need apprehend but very little danger or I finding it out. Indeed, for aught that appears on

difficulty; she will be able, amply able, to finish the face of the Charter, the credit and character her present undertakings and to do something in of the institution, together with the vast interests

tne meanwhile tor that nrst and meritorious work

which is now so rapidly going to decay-the Michigan Road! To) much money has been already expended upon this road to throw it aside entirely; besides its importance and advantage to the country at large are decidedly too great to suffer it to sink into obscurity or neglect. If therefore vou cannot apply to it the whole energies of the

State and McAdamise it at once may vou not

""" ' - ... fm,j

their behalf that they have the pnvuef chasing the lands they occupy at lbs P1

1 hi" lrriilnture mnv nx noon W " i

- j .

price,

; 1 1 1 oi t 11 bw

! failure of that, some just provision W 1

comnensate them for their tmprovemM The returns of tbe assessments of utt pertv the present year, exhibit ttraf

01 contranictory iact. 1 ne nut""" r inrrfKH in lfi patio we nticiped

fraction over 89.000 whilst last

fere with her in the selection of her lands? Surely

not. The act, so soon as Indiana complied with

the condition precedent the commencement of

the canal within tho five years gave to each par-!

ty a separate and distinct property : to the Unite;; States the alternate sections; to the State of In-

r!iani 9 ninntitv nattl'il 1n An o nilTr-T rat a onf iirib

uiuiiw -jaa - v nv ii'iu aavx. rvi"ii.i uvn "v ww 99 a - ; tAw in width on each side of the Canal from one end j but a little over 2,000 in IW,1 i.f it In th nthprr nrtv mnrn it .mnriintt nctij ra If i iS lmt wor rotiirnort laTithle. yaw" T 1

, . . ........ ,

on behalf of the Uniteo States, the Commissioner ! 763,082 acres and a decrease in lh J of the General Lind Office; on behalf of the value of the whole of $230,113; af State of Indiana, tbe Governor thereof, or the per- j of town lot in 1837 was $9,131,443. J"-

son hav ing charge ot the construction of the canal.

it involves are in a greater or a less degree, at

the mercy of the whim and caprice of the executive. He may constantly harras it, by suing out one scire facias after another, and always excuse

himself by alledging that he bad "reason to believe that the Bank had violated its Charter.' Is be anxious to secure an election, what better expedient can he resort to than to make war upon the

Bank! Is it necessary to shield his conduct, or

take steps to keep it in repair to make it piss- the complexion of his principles from too severe a

Nothing to me can be clearer than all this. But

lest I subject myself to the charge of taking only a one side view of the question, suffer me to present you with another: The United States have rights in this matter as well as Indiana. For if any one supposes that this grant wasa pure free will offering, made without any consideration but

that of love or affection or without any reservation of equivalents whatever, commits, to ay the least of it, a very gross mistake. So far from this being the fact. Congress carefully reserve the

right of way, free of tolls, from one end of the canal to tbe other, for the passage of all persons and the transportation of all property in the service of or belonging to the United States. Suppose now that the State completes the canal to Terre-

Haute, and takes land for it only to the mouth of

the Tippecanoe in other words that she unites the waters of Lake Erie with those of theWahash atTerre Haute how could she prohibit the Uni

ted States from the use of their right of free-way

to that point? Where would she commence charging them with tolls for passage or transportation? At the niouth of tbe Tippecanoe? She has not carried the canal to it. At Lafayette? at Cov-

: !. t 1 'l "T'.O 1 nm n iiwreaM

percent. In 137 Ibe value o pe

waa 2 ..524.140. thia vear It rJ

V 7 - "7 -7 J

312, showing a decrease of near ' .J

dollars! And what is more extraordiitfT Ihftcnmoraticn stock which in lw"T J

&rn 3i. AnI thi y. when webP"7

s T r '

Trust companies, the savings

V.-..l. mnA rmtA mmninifn. wits WSK" .

uii u . mf I

I '. : I - mhinairA nvar. have ltflf

iitcimi; " - ' - iwia I mmA nM tkattime! What do I"

i - i i .iiw tu-t oMde 1

.nl ir.!lMtinrtlkf ravanua is '

tire : and that tbe return ot tbe

not to be relied on. a fumishiop; 7

onmut its la Wh fur IQS

crease of town property be 43 T?L

over last? Can any other reasaai -it, than thin, that town property

t l. BBkaMiaaMsr m. w

laithtuiiv assesaoo, r-r ,.i , Again why .houki th .jTT, , Tha eoailalo "

natw uiniiiiWKxi - , - aaW finely-our li.t4 "fglj? addiuoo to it of near yi ia