Richmond Palladium (Weekly), Volume 11, Number 49, 11 December 1841 — Page 2
INDIA A Ail 1 LAT U ! IE .
Mip.mmi, December 0. Both Houses of iho General Assembly convened at thecapitol to-day, at 10 o'clock, A. M , con furmibly to tho . e o, motions of tho Constil j'wn senate. The; Senate; was called to order by I ho Hon Hamiiic Halt,. Limit, G uvernor. I)uc;f,ss Ma iii iftK, E- , Principal Secretary Iu the last Sen ittf, called tin names of members, wlifu iho fol lowing amwfrcd : Allen, Adams, Wol'i As Huntington Joseph Sinclair. Clarke Jas. G. Read. Dwies A. Martin Aimer D iv is. Gibson, I'ike & Dublin Smith Miller. Fountain Solomon Hi! field. Jffersrn Jesc I) Bright. Lawrence Geo. V. Cnrr. Lagrange, Steuben, Noblo Ai Dekalb David J. Ilerrirnan Morgan Parmentcr M. Parks. Madison &. Hancock Thomas D. Walpolo. Montgomery Robert C. GregoryOwen As Greene David M D dson. ( )ronge St Crawford Isaac Sands. Parke Hugh. J. Bradley. Ripley William S. T. Cornet. Hush Bcnj. F. Reeve. Vanderburg A. Posey John I'itciicr. Warren, White, Pulaski, Jasper Ac Benton Zl. Sheets. Wayne David Hoover A; Lewis Bark. Washington Wrn. Shanks. OLD MF..W1KR.S. Bartholomew As Jennings '.. Tonnehill. Boon As Hamilton Jiccb Anglo. Cuss W. WrightCarroll As Clinton II. G. IlirriaDecatur Jas. MorganDearborn J. Walts.
Elkhart E. M. Chamberlain
Fayette As Union S. W. Parker. Franklin Divid Mount. Floyd Jas. Collins. (Irani Asc. John Foster. Henry J. T. Elliott. Harrison Henry Kinzcr. Hendricks C. C. Nnvn. Jickson At Scott John F. Cure. Juhnson S. J. Herriotf. Laportc, Aso. Sylvanus Everts. Monroe Win. tk'rry. Putnam A. C. Stevenson. Randolph As Delaware M. Akcr. Shelby J. B. Nickel. Switzerland J. C. Es?tfIeston. St. Jose ph. Asc. T. I). Baird. Tippecanoe S. Hoover. Vigo J. T. Molut. Vermillion Ac Warren Jas. Blair. Warrick, Asc. G. H. Roberts. Tho new Senators bavins been sworn into of lieu by the Hon. Charles Dowey, tho Senato pro funded to its oriraiii. ition.
Mr. Dabson moved that tho Senato proceed to r.li.iinn nf Princioal Secretary: bol on the
.n,r,TPs!on of Mr. Collins, tho motion was with
.lrnwn. for tho purpose of determining, by lot, the
torm of tho new Senators elected under tho lato
r,:.rtionmcnt. Messrs. Collins and Harris were
appointed Tt-lle ii h c,',r . 1 - I .
David Hcr.imati drew 'dyca.3, Abiicr Davis 3,
'..l...l..r. Cilmnfa 1 .
"Afirrthrt thrconcw Senator, had drawn lots..
Mr. Miller suggestod tbat Mr. Pitcher was clectod from a now district, and should have drawn widi the others. A discussion then arose in which Messrs. Miller, Harris, Roberts, 1 .irkcr, Nive, and Herrimin participated, on tho question whether Posey nn Vanderburgh constituted n now district 'or not. Mr. Chamberlain moved .1.-. t- r. i,-!. nr i,r.if.-nil to draw : which motion
was discussed by Mr. F.lliott nrsd others. Mr. Collins moved to reconsider tho motion relative to tho new member?, which on motion of Mr. o...;n l.-.i.l on iho table, and then tho
I It1 II in " " Senato proceeded to the election
Secrotary : nnalnss MTiiire -I
- - r Charlos Test, Scattcrinir,
o.mI-ioo At i it ni n bivin'T
U . - a -
nil tho votes given, was declared ouiy ciecitu Principal Secretary of the Senate for tho presciii session. Oil motion, proceeded to tho election of Assistant Secretary of iho Senate. Tho fol low -.i i.' e.... r .....,. t.-.t m ,t j
WT Wn? IHO rCSUIl lO 11IU - Albert L. Holmes, 10 i S ;r. Homer Johnson, li 1 T,l. IT l.',r,.,..nr. 1-2 '25 18 Z.t
lUmiltwn W. D. Rx kcr A: F. li C aswell. IL-nry Joel Ucsid and Richard M. Cooper. I lendncks Wm. ToWkst nd. Hancock Joseph Chapman end J. P. Foley. II Jiitirgton, A?. E!iit Murray. Johnson Jarues Rttchey. Jefferson A. Ltwrcnet, Jos. G. Mrshail nnd Samuel (JooJenow. J e linings James (j -iudhu. Jackson l'e-kiel L Dinbar. Kii'iv Jul.n Mvrcs. K"sciu-k i and Whitf !y Peter L Uunynn. Laporte J. H. lifadlcy and J. W. Chapman Lawrence II. C Norvcll A. J. J. Burnett. Marion Israel Harding and Wm. J. Brown. Madison Thomas McAllister. Monroo end Brown Wiilis A.Jorman.
Morgan Francis A. Matheny. Moii'grr.ery John N'elaon, II
John Birnttt. Marshal and Fulton William HannaH. Miami and Wabash Daniel U. Bearss. Martin M. PjqU Noblo and Lagrange John Thompson. Owen Martin Snnddy. Orange Htnry Linglo. Putnam George Penrcy end Alfred Hutlon. Parke Jeptha Garrigus and Pratt Frinh. Posey Arza Lcc. Pike A. T. Wright. Perry It. G. Cotton. Porter and Lnk Lewis Warriner. Rush P. A. Ilacklemen nod W. C. Robinson. Ripley Henry J. Bowers. Rando!)h Robert Butler. Spencer John Proctor.
Sullivan John W. Davis end Justus Davis. St. Joseph John D. DefrecB. Switzerland Ssmuol Howard. Scott Aaron Rawlings. Shelby John Hendricks. Tippecanoe Eliazur Deming nnd J. P. lit 1 i 3 - Union J. S. Williamson and Dmie! Ojdcn. Vjgr William Wines and John Hodges. Vandcrbtirg Amos Clark. Vrcrmi!lion John Ilobbler. Whito A-.c William Coon. Waync-I). Strattan, 1). Sinks Ac W. R. Foulko. Warrick Christopher C. Graham. Washington II. C. Monroo and George May. Warren William G. Montgomery. Mr. Hanncan announced J. W. Davis, of Sul
livan, a candidato fur Spenker. Tho Houso ihcr: proceeded to (ho election of Speaker, which re
sulted ns follows, en tho a:it oal.ot :
John W. Divis, Joseph G. Mar&hall, Scattering,
Upon being conducted to the chair,
egement of tl.is debt was taken from tV iTiecrs
of the, Btnk, and it ha3 sioce then bocmo l ien j Jed with tho dabts con'rscttd on nccount t f the j general Internal Improvement system. No correct opici-m can be formed of th prob ib'o amount which will be realized from tho ftipended dtb', nor cf the va!up of iho colijiora! securities taken at different irurs fr us pvrntnt; the securities aro as t ario is ts oan wt 11 te inn- ; gined, and many e t thjtn ro doubtless - i:c !y '.vf)rth t'ie ;apcr rmployid in com eying tl)..tn to
, tho state. A pait ot tho ue ot m iv to rcc ner ,. but how much, or when, are ijuestims it is i.n j possible to answer. Uao thing, however, is pret-
M id-on. In a very sh rt time the situation d the country became such, tbat meney to progress wi:h the works cou'd not bo obtained t'rctn nay quarter. Bit the enumeration of ihe causes which pro- ! i ee i oir present tin! arrassaients dot s not tp
nrl ns rc.ates to tho noo-paymenl Tlo? .'egis'iiture at the ! ut session
t i-io.it) f. r the pavmrnl t f interest, und
lier-
it t icu
t mt'.re.-
! total expenditure, including payment for every I purpose, of J.011,Ul2. Tins s nn includes the 5 cost of the 6tem bolt lock at the Delphi dm, now nearly finished, ; 4J. The extension of the W.ibsh and Erie Cajnnl from ihe mouth of Tippecanoe to Terre llnute, I 10-1 miles. Total probable est $l,.00,tiK) ' amount expended, $40S ."",. The navigation o'penedas fjr down e j Latayt'.tr, and a poriion of i tho work performed tP iho vicinity of Coving ton- ; The Cross Ci' dri ll from Tvrro Haute 'o
i Central Cana!. t'J mile in iengtn--esiin.aieo j
cost, .7 IS'"- an.ount expended, i'Jt),U7U ' ?v;. nurt i,( ihe wort is nav liable.
i -1. Tho White Water Canal from Lawrence- j ty certain, thai out very iittio oi n cm uo co..ec- funtj C-mmisM iner couM not dispose ..f bonds on iburh to the mouth of Nettle creek, Tf.- miles ted in time to bo used f .rnny immediate purpose ,he Urins rc,r.urid bv tho lr gis'.atuie. Nothing
i total e.timaled cost. .sl,07o,7:sarnount expen- ne puooc i. toi oi mo ouw i4) uw M.a.li:c.i I .u.! c-l ttU'i sp.r Thirtr one milts of this woik ; under three diiTcront heads.
of 1 reas-.iry notes by authorizing nds, I bear not eccc ling seven
!!!: redemp: lliO Silo i!
per i'tn'. interest, and by directing tho levy of
t tax of f rt v cents un earh hundred dollars of the cranJ nssessmcni. As is well known, tho
F. Snook and .navigible.cxtctdiPgfromlhc Ohio river to Brook- I'tnt, lhit part upon which the interest can
i ..,!! j ue pau wniioui a resort i inaiiwi. ims m-
v illo.
! .". The Central Canal from tho Wabash and i eludes the following loan.:
i Eric Canal to Indian ipolis, including tho feeder j 1st. Origin il loans for bank st ek, SL", (dam to Muneietown. Total distance, 12 H miles J'inJ. AJvaurcd to iho Bink in nntict-
j total estim.ited cosl. ,-o') amount cx- j pation of tho -lih instalment cl tee ! rr.n,!.,t o "C. x n 1 1. ciiht miles cumMiutcd. other! surplus rfvcmi",
tji-' ' ' j -.-- i ' ; t
portions nearly (lone. j 0. Central c.-nal fium Indianapolis to EvansJvillc, on tho Ohio rirer- Length 101 miles tot tol estimated cost, s'3 ."3J,:i. 1 amount expended i S-lai,:it'2 lt miles of w hich, at the southern
end, connecting with the Ohio ricr, ire finished,
3rd. Advanced to the Lawrt-eel urh
nnd Lidianipjlis R. Itjad C-jmoan v,
, ( !') I
J'Jl.vUlO '221 Cno
Total, sl.'dt'o.Otfi) Sccomf, Tho Treasury Notes remaining tn cireulationi Tiiu whido amount issued up t iho
;coii!'. be reaiisru in t.'io coicction ol taxca on 'en.iuh to meet the July instalment of interest. B it this is n"i all. The net of Is" 10, authorizing ; tho issue- if Treasury n te, ma do them recevia- ' l.lo ! r taxes, nnJ it w ill bo found when iho rev!enuo of the present year shall have been paid into tho Treasury, that iimsi if not all of it, will ho retutntd in Treasury notes which by law ; ire n q aired to be destroyed ns they ore received ' by tho Treasurer of Slate. And ihe amount of these notes still in circulation must present us, ; f st seve ral years, from deriving any availsblo itienas Iron iho collection "f taxes, with which
pari of the interest on tho Slate
to
liquidate utiv
ib't-.t. Tiie ci'iidiii.m of iho suspended debt is uuch.
fond 10 miles extenc'ing 6juih from Indianapolis, ! first of November. 1M0, was 1 , l.Vo.000 dollars. t!)a ttjlf1iuigh portions ol it may bo collected,
1 nearly finished i 1 aa amount wnicn nas noi oeen rcuuueu uu j yot wc cannot procure it to pa v interest as it Tails 7. Erio and Miohijan Canal, 182 miles es- treasury is estimated at 1,300,000 dollars. Thcso ; j,le.
' limited cost, $-,Gdl,bd;j amount expended, i "ear miercis irom inetr uaio ua... rw, ... , Si)..b ;9 ac,.laUy our Condiiin, nnd condor and $15ii,:WI. No jart of this work is finished. ! the rate of six per cent, per annum. 'j.si.e to ourselves and to our creditors, reqniro
j 8. Tho Madifon and Indianapolis Kail KoaJ ' iKl miles long total estimated cost 'J,0 lt,t'00 oil
..a,t CM -l'.:t Of3. 11 ..d finished ! ot
, U i iWUIIi LAliUlUVUi T 1 - "
1 w ir
and in opcratioi for about 2 1 miles. Grading 1 manJatile, ami for the payment oi wni..i to. very nearly finthed on 27 miles in addition ex- j quite means are ot present provided. tending to "Edinburgh. , m Y li f,,!l,";Vf: " o !.,;.n.n, on.l T.if ivrttn Turnniko road ! 1. Bonds sold for U abash and Lno
73 milos in len?th total estimated cost, $.V.I3,-! C.ica , 7:J7 amount expended. -7-d,lS-J. The bridging 2. Bonds disposed of for Internal and most of the grading dor.o on 27 miled from Improvement purposes. Crawfordsville to Lafavette. I :- Principal due the State Link for
ad nuvances o: trio miotic woik
le,JtX PCr cent" J,er n,"!,l,I' r ! j i.-tio to ourselves and to our creditors, reqniro riurd I his part of tho public debt consists of .. h;U wt! b lvo ncilhcr ,;Jcr those liabilities of every description cxc.u-ive . o;jr controJ nr rcf fur Si,me UmcXocome, tho treasury notes upon which .nterct is , e- ( -Uzr o the interest on the whole
ri 10 i
10. New Albany and Vinccnncs Turnpike) mad i nuvances o: trie p
10.- miles long estimated cost, l,127Vdi)o ! 1- Hypothecated bonds soiu tno amount expcndeJ, i'0 1,111. Foriy-ono miles unsold, i. .t.i M.i,niv-,t fTiPn,tin,.fmmN'(iw Al-1 lor Bondssold to tho Morns (.a-
il iuiiii uiiu 1 1 i j . - - - ------ - -
ban v to Paoli aad '
11 I. (Timet v ill-; snil Crawf.rdivil'.o r-.-d i Stato Rank,
! LIS miles lonj-total estimated cost, witr.out I
of our public debt. It is true we might by the sale of bonds greatly below their nominal vulue, nuinjo to meet our liabilities fir tho present, but owing to iho vast depreciation of our bonds, tho debt of the State wool. I soon bo augmented to a ium so Inrgo that il would bo impossible under the most fa vera -bio circumstances, to vustain its nccumulated
:31,7JT,OiU 7(o:.,o.:o C.l!,.".0(t 1,0; '.-.),( HK I
miles in udditiou, partly gri-j nal and Banking Company, to mcreaso tho capital stock of the
l,tn-V .)
Total,
1 !,l7.:.iH)
roturned hi3 lhariks for tlio honor conferred in a J allo from Greeuenstle north.
brief and npj)ropriato address.
Joseph F. Brown was elected i'rmcipai icm on tho first ballot. J. T. Huckleberry was elected Assistant. E. M. Benson, Enrolling Clerk. Mr. Patterson, Doorkeeper.
. i ,i j j i . i.
mot-.i n w ti i i u'lin mctaiiinf. auoco. im; t
ieost would bo ftl.OoO-(!0-amouni expended. This sum bears five per cent, interest, . v-r;.t
' . . . iMl.' lll I .1.. nr Ikr. lV':cl .I'M rliO kU
iwu,' vu' iiiMita v?i uiu i(j ....-j loan, and tho amount ndvi-.ncred on Iho pub :' work?, bj tho bardc, which benr six per ri in.; and about 130,000 dollars of seven per cent, bonds
I weight. Such a lino of policy must in the end, 'leaf to a fii'urc mm e disns! rous n nd oppressive it jits con.-' " if nccs, than to p-ioso nt tbo present peri id of our difficulties. Heavy saeritieirs to j pay intercFt will ndd to t'.io existing burdens ot ' Of) Slate, w ithoot the n; fU rriiK'to promise f ill- ! timato reio I". t.ltfoMigh ibis mav not be true in
resjicci ! iticTuro', to secure too completion oi
.C;:7 i.7153. I'oity-fiva miles partly graded nnJ
Mr. Divis ; ;ridjed, exton 'ir-g from Jetfersonville to Sileii),
SAGE.
GOVEItrSOIt'JS ME
(hnllcmcn of the Semite and llotise of llcprcscnUUiccs : In meeting together to consult for the general good, wo aro led to review tho pnst, even vvbiio tho mind is dirocted to tho consideration of the future. Although lha venr now drawjnir to a cfoso has oroduccd no amelioration of tno causes
. . . '.. . .wl lliORUOVCi
wiucti aro distracting me " aro b,sod on Ho cost of iho work already
merco of ttio country, me ;!from which it ,ppea;s it would require to com
nccn snowercu upon us uji --
xorcssions oi gramuoo
12. Irnprovemcat of tho Wabash Rapids, un
dertaken jointly by this Suite on 1 Illinois, one half of, tho estimated erst of which is JJliVd.oOO amount expended by Iodintia, r;'J,y:J'.). j There has ulso been paid fir tho general con- ! tingerit expecses of t'.io Biard of Internal ImprJvemonts, for the purchase of iostrom.mts. Si.-:., chart'eablo nliko to all tho jublio works, tlio sum i of .i,-!' I dollars, 1 1 cents j Be summ.ng up tho forci-oing statement, il will ; he seen that the w hole length is 1'dSO miles, '2S1 ; miles of which have teen cemp!ctcd--atgregate '. estimated cost of nil tho works, gP.s.Ul I,"? ! I arn.,, -oU.)d fr mil c-- - l'- ''-'to
Tho above iatimatrs of cost of tiie entire lines.
done :
soiji-.j of i he lof v.-iirlv4. I he sum which it would bo nteissay to bi s-v in order to pay our in tc r't at the pnsent rcibng price of our bends, if properly arid ptudon'lv nppln d linnually, would do m oro to relievo the Stato nnd culm tho fenrs of
j (iiciouH creoitors, limn largo nnd eontinuco eac-
'21 'dl
of Principal
2
21 21
received a majority of
Scattering,
11
1
1
hn II. Farquhar, of Franklin county, having re- - r .il it..i imtcia nifpn was do-
ceivcil a majority man - -- clared duly elected Assistant Secretary of the
Senato for tho present session
-t r.K i ir most ive v c
,u: " - - ' . . - .
to ii..r wha is the source of every utcoMng. i ot labors of lha .husbandman have been crowned with arieh abundance 6t the fruits of tho carlo. VYuh some local exceptions wo have crj yed n year of moro than usual health. Tho storm of war which lowered upon our horr.an has passod r. nn,l tbn 1! esi n os . -f pcaccarc continued to
our common country. Liberal principles, sound morality and pure religion have exercised their restraining influence upon tho community, and we have been spared the pain of witnessing those infractions of law and good order within our State so dangerous to our institutions, and subversive of the fundamental principles of our government. You have met under peculiarly trying circumstances. Since tho adjournment of the last ie.TiaUiom we hao reached a crisis in our utfurs,
dreaded indeed by many, but which was hoped j might be avoided. Indiana, until tho present j year, had succeeded in paying tho interest on her , public debt, and at the last session amplo provision was supposed to havo been mndo for us pay- ; ,ni ihU iMr. hut circumstances beyonJ the ;
I control of tho agents of tho State, havo render- I Jed it impossiblo to procure tho necessary funds, j C ii-j . .!...; iKa tii.titcoriitf
lauu we arc compeneu iu bouui (truth, that ihe credit of the State has not been
plcto the whok of iho above woiks. ; 1 1 ,7."0,0t)0.
At the present rco-.ceu prices, ti migrn taKe less, were it not f j; tho loss and dilapidation on tho unfinished pcr'i.msof the works. Following it itnticdiata conncr'.i n with this view of our publuiworks is the nm-.tint ef the whole public debt -.f the st-H". Including all our
liabilities, tins in i oo cststisilc-d at :j lo.oc.,! lt.
. , r . . C ...... ,. i
recently oisposon oi iu paju.em o, j rtflC0.s , , mcl lbj ltlU.rc,i whilo permittmg iho Tho annual interest on tho abovo sun may no! wor),s ,0 (,( t,iy
sot down at i)v',liO doliars. It we mot to i initio amount to bo pai l for exchanges corn'risu-ui, expenses, &.C. tho It fist am uiU neccF.-; iry t dischargo tho interest on the above part f t! pu!iic debt, will vary bat littlo from I 1Z .')' c.-liars n n nually. To fay this amount of interest, tho state posses the f ll iwing means, which may ho rehed i n with certninty : 1st. Tho interest on tho proceeds of n! s f iho Wabash nnd Erie Canal. '.'Hl!l :. interest from surplus icevenue, icd.Ot-'O
Neverihulcss it becomes us to leave no tTrts untried to rt cover our forim r position. Indiana possesses nr. n:f 'f ri.-ong nnd n rapidly incrunsiiijf pr po!;,tion. The natural rfsourt ioj of iho St.-itr: ft- the s-I 1 1 be developed by the industry of her citizen tv ill tuld continually to her wealth, and this very addition will result iu a constnnt relative diminution of the burden of iho public debt. It is our mi.-.rortnri lti.il we rnrmol pie-
Stu to unireoairt d.
( C fl'O
tl.o f.ltll of
Still
wo sfioiiitj I not ilispmr id rernv erifi fro.-n our citli-
j cullies while nny means ir.ruain wiihin niir ower wiiii w'uiidi wo cm woik. Although whatever
means nvuiiaiilo at pre-tnt, nro losuforicnt t pay nil tho in terest, on oir io'irnal improv t met. t debt, yet can wc not with these, nnd eoch otht r resources ns Can bo reached, properly and pru-
v Bppln her ' b
tier,!iV Dp;d!i.-!, I'iaci! th blrite in n uto-itioo to
pay
credit.
n ! fit
Uol
uiii in
'v rrdet in her fimken
ii lo !m so ichl in the kui-
Total, s.:;,ooo
Which being deducted from tho proceeding j sum of $oir,0lK leaves the annual in t treat dun : under the third head, ot the sum of od,!0:.- j The proceed from tolls, witer-rt-uis f-cc. on '
trie pub'iu woiks, will be nnsortmo m expenses and repairs, for sumo time. And ail oilier extraordinary sources of revenue br night in'o the estimates usually made, nro too uncert .in to bo relied tipnn nt preent. But I think it may be cal-
. i . . i . c. i .. . i. .. . : r. il o: ......
inii)2 trio exact i " -'.' u 1 - nrt ,r .h. s ,;,,, nwriV t n den. ot-n
forever, all that his been expended, the Sialu co ibl not do hetirr than I i collect fill herecfitter-
beiioved tho folbpi.-g etatement
substantially corf.'.t: 1. For the W.iid Erio Canal, 2. For tl)3 c-ti lishmeiit of the State Bank, '.. For lit sLfgcmcnt of the car
r x;cc-
u o-.ni.' i ii. i Iv iu a -cert'
' ,. V.f - ',ri i lb'., i ictus, but uo in re!, rrierr t tdctc her p ition of tho work as soon c
to tho mast nceurio sJurets of ii.formation, il is ted, the toils and rents derived from tho Wabash
it will bo lou.'id '3ni1 ''Tic anal, wncn auoeu to tuo annual inter-
j csts received from tho salo of canal binds, w ni be " 000 ! sufficient to pay tho interest on tho loau for its
ridal measure i f rr-pu-fiatiog the 'ib!ie debt, mid vvc furiherm ire nd ipt ihe di M ructi vr policy cf abandoiiing al! tho public '.VM!kn rotnprisi-d in tho
cd mean5', which can l o made avail iblo nnd wjifi
Si,"
u tletcrminr d effii t, en:
construction.
m ;st
1 0 W :j I h. .-
aver to place porno of tho
to becomo
iu m e ii-.iiiu!)
1,3'. 10,000 It wii! Lo discovered from the foregoing sts'c-
ments that wo have a two fold debt pres.-ir.g hca
Kuslained
It now devolves upon the legislature to devise and adopt measures, the best adapted to the ex-
cics of our situation. 'I o do this, it becomes
naio ior too jm i gencics oi our situation. i u hj "-i Daring the progress of balloting for Assistant j ece:sary ta look over tho who'.o ground to ex-
r . a - n .--k Knn it ' 1 1 V 111 II I H'1,1 I I'l I . I m ' . ' J ' UU iuia 11 '11 I T .
nn.,rvTiTirea . . 1. : i A,,r.n,.,;0, i thiq sum bo retided bv Iho sale of Stale Bonds, to discnarge tic mieresi, na.ui any utin.o .un- . ven in oouui mm onucui-.y .
; Ut tvUtvL3i.i.... voivea mo ota e mu p.cu. ....v-... - , - f ; ,,:... t lh- DoUrv whtch was pcrsued. Had ; oarlial mind must receive the impression, that
House was called to order bv W. II. Ben- la the year 1-d- , t he dtale . f , When te the legislature commenced bv le tng taxes to .d.ana has been in many instance, the victim ,q . Assistant Clerk to the last House of i ed from tho General Government a grant of land , fT. 111 I-t. he paid into he 1 defray tho interest a, it accrued, .Is amount ! of preconcerted imposition and fraud. If broken enUves, when tho fdlowmg members to aid in tho -cuon of tho index to the sum, ex-j bJk, were to be resumed f ,r di.hone.l pnrpo-
, pnatlueed their cre-tentia and were . . . ----- , h 000. j pended on the work,. This of itse.f would have ; ses, nd.a U mfs were u..nea uy . W -
to office oy "le'1"";'"41"1""' --- - . - condition Tnat part olar labilities usually c.iled the t done much to checK extravagan; expena.turca. jtor, toaiu ... nu v,.ur,. v
sanJJay-liobertD. l.sdc... ,rT; clna from the boun- appended debl .por which nothing his been re- i The second error wa, selling bonds en e ; .tors were lo ue sM.Maco, ,, to t,e fearer, ,.,
T KinS. uui6ijUwU..,uu. t . a t I .u a ? J.i Tli a fin Vv Irtt to Ifi moi 01533- i thV POItlC 1 117109 I C n I 0" 5 T R HCB Q I nt I T aUlUFP.
IvJ litil liltU. L.iimi lug I w . wt ... j a
Ci,,,;tarv. James G. Read, Senator from Clarke
countv, appeared, was qualified nnJ took his seat. On motion, tho Senato proceeded to the election of Enrolling Secretary; when Samuel Dunn on tho eleventh balloting was declared elected. Divid Milter was elected door keeper, and the Senato ndj mrncd.
IIOUS1
Tho nott, E Re nrcs
appeared
sworn in
Adam
Allen
H.,on John Chri--man.
Crawford John Edwards. Clinton Martin Z. Say lor. Carrol A. F, Robinson. Cass N. D. Grover. Cla Francis B. Yocum. Cla'.ko Thomas J. Henlv Ai J. S. Simonson. Dearborn E han Allan Brown, James P. Millikin,and Jamca Rand. Decatur James Saunders. Dj Kalh and Steuben M. Marsh. Daviess R A. Clements. Dubois John Poulsan. Delaware G. C. Gilbert. Elkhart Wm. Mitchel. Fountain Elward A. Hinnegin. Franklin George G. Shoupc, and J. Cooley. F!ovd John S. Davis. Favette Wilson Thompson Ai Miner Meeker Greena-J. F. O'Neal. Grant JnmesS. Shively. Gibson Joseph Devin. Harrison W. M Satfen enJ 1 . Leslie.
amino our exact situation with the strictest scru
tiny, and mako tho most correct estimate we possibly can, of iho liabilities and roenns and resources of the State. In order ihxt tho wtiolo subject may be fully presented anJ understood, I shall m lha first piaco consider somewhat in de
tail, tho commencement and progress of those !
ital sii! i in1, I. Advancctjio the Bitik in anticipation of bo fourth instalment of the Surjlis Revenue, .". For bona advanced to tho Law rencebujr and Indianapolis Rail Ro id Clipany, G; For bots "olil lor tho Internal Improvjent System of lSJ-", 7. Dio ihictate Bink f -r advances on I) Pjblio Woiks, including intest, S. Atno'.i!if Treasury Notes outetandin 0. l-Ior lastuly instalment of interest, , 10. Ilypotlratcd Bands sold, II. Bmds-iw hypothecated, 12. Interetoc oitstandiDg Treas. ury N.i,
1,030,00-
Iv upon us, fron. winch im.n.'Oiate relief car.t.ot
! bo expeeted, namely, Hio sum actui'iy :vprimi o on th system of Internal Improvements .adopte.i 'J01,t0O in !S3t5, comprising works which arc not in n sit
uation to yield ony profit, end aiso tho euspenoeJ
v a i u a o
ble.
S fir as it can be done consistently witti the pub'ic good, nnd thop'fi'tod f.ii th of tho Stn to, .-.nd without granting privih gns which may prove dett imental to the fol an, intr-rcxts of the ciii.criF, tho State would do ceil to secure 'bo nsitr,nru of comp;:iii-.'S, who may hn wilting to contribute
towards the etji.pt ruction o! it.r outilic woiks. -
ulobt upon which tho accruing interest is to be Tlint cmftri;r. cnn (.o found to embark to tnv d-d 1,000 ; paid, although the State has rot received any part j j,re.lt cs!, rit ln nn , faerpri.o r.f ihir e lnracter, I
of the principal.
do not belie .
.'ovcribe!'- on foiiio of iho
.or.o.ooo
It is due to ourselves in this state ef our nfi'.irs, j Imcs it is cu'rently un f.-rrtood that associations
j to examine into some of the prominent causes (, individuals can be iu lured l- Mfp forward, ond 1 which hav o proJuced the ;iri sent ernbirra-sinent-. ' irivtfct funds in the stripe of Stock t an a mount 003,1 IG , Xno first of these is rloubtles to bo found tn the j w hich wfd ifford efli -imt assistance in the com- ! number of large and expensive woiks, rmbraccd j pletion of those works. 1,300,000 ja tho svstem of Internal Improvements, and; Noah Njlde, Eq , the Fund Commissioner,
their simultaneous prosecutkn. A'sa the une.v- 1 has lieen assiduously engaged through iho preu-
Tutal,
2oO.(iOO nected increase in tha prices of prori'ionj. labor ent vear in the duties of his office. Your moel
10 -1,000 ! ar)1j fiiaterials was such lha! a sum much greater j earned attention ia invited to his very full roGi'13,O0O; tban t,c original estimates was required for the j por', which will Le laid before you. lis inngniconstruction of tho public woiks. Two great ; fade and the variety of topics, relating almost exr5,000 j errors wre committed in ttie progress rf the sys I clutivrfy to the suspended debt, r.nd the eellateritern. The first was paying the m.-t of iho inter- j eccurtties tr.k.n to st-curc it, payment, forbid 515.0"sS.l lt I ost nut of the monev borrowed. This sot-i-'ctcd i mv attem:.tirrr onv nar'icnlar Etatement of its
There has t J advanced on tho bonds now ! the State to the payment of compound interest, ! contents. You wiil prreeivo from the report lha t
Should,' and the people not feeling tha press jtc ot taxes the greater part ol toe r u?per) d e"e in .a invoi-
IiVll ti u mi
eriv. consist f e rjllowin:
1. Due fron te .orris Canal and Banking Jo psoy, for B -.nd, sold ta increse icitock of the State Bank , 12. Froen thp tf e, f-Jr Binds solJ for Interest Bprovemsnt purpo ses, . 3. From cthercrapanie?, 1. Cost of CoJ p:cpertr,
p-moriiifnfM. nr.d it constitutes a rro-
i ii iy ii j vi-i. - , - . i ! r . i . r ' r . o -1 .
minent cause oi ine imuro oi mo ouit, iu
ifjrv of Indian
been completed, ready for navigation from Lafayette on tha Wabash, to tho eastern line of the State. This work is not generally regarded as forming a part of tho general system of Internal Improvements, in the prosecution of which the Stato subsequently engiged in tho year 1S3G.
It is now understood thatUaiowi.i complete ner portion of tho line in 1SL2, by which an uniotcr--it a - .1 Wa.
ruptod communication wm do opeueu uimccii ihn Wabash and Like Erie-
In the month of January 153b, the legislature pased an act to provide for a general system of " innni lmnrnvements. embracing a number oft
rnensive work. Trie extent and present con-i due in eastern c:t and states, for state bonos ; 1 - . i ikn tr.ti.eti o t !!tn.t. ftf a r,iT d I V b ru a r v 21. 1S10.M it was
EJ!rCan!l wUh the tou Fund Comtnissioners to re-(moving f.rwerd as prosperously a, co-d be deo "to the present time, with the expenditure un-quire collateral jirity to double the amount cfj sired unt.l the month cl AuguM 130 when SJr everv head miv be briefly summed up as fol-1 the bonds .old U-e Morris Canal and Bmkm? these Companies became unable to fu.SI their
(mnant? Fiiionv o locreeae Da caonai couirv.
1 Tho Wabash and Erie Canal from the State j stock of the SiatliDk, or require payment of tine to Ti"oCcanoc, ld0 m.les iu iegtb, corople- said bonds, or t'u.t urn thereof. By this transted and navigable for ihs whole distance, at a , fer to the Canal 11 Commissioners, the roan-
in cajoling cur ngen'a out of iho bond?. If heavi
ly operating institution, were involved in exien-
I progress with tho general system of improve- i sire Fpeculations under which ihey mail aink, I mpnta. that tbaso ccrcpanies to whom bonds had i unless a powerful effort were put forth, Indiana
1 000 000- been sold on lime did not comply with their con- bonds were procured at nearly their par alue, ' ' j tracts. During iho Summer cf 1S39, several nnd thrown upon he money market at reduced very important vcrks were rapidly progressing prices, to raise the means u( meeting a passing 1,110.000! to completion. Loans had been negotiated with emergency. There is nothing pltaaant in arri'604,000 1 the Morris Cnal and Banking Company, and j ving at these conclusions, nor in exprrssmg them, 31L000 other Companies of less note, amounting to near- but while so much 13 said in a spirit of reproof.
iy two millions ot Collars, and generally, the pro- on the sutject of inniana proi-rimy iiti v.cu..
Total amount of Suspended Debt. S3.3S 1,000 I ceeds were to be paid to tne state in monthly in-icier such a compucauon i .-'-;.
n . ;,-; c iion. "i raUtion lo mon staimenis, so as io cniw me canai commission- to nave
lor siniA noni. era I j incut ei.i 1:11 " ii iiit: u i;, wiiu uyniat-i.'! j i w
on the public works. Everv thing seemed to be
As a matter cf course operations on
the public works ceosed immediat&ly, except on the Madison and Indianapolis Rail Road, for wbich a special loan had been made with a company in
it remnerrc, ir.ai totno o mum uj-ii
hom wb relied fit the means of progressing with
our public work?, have not kept their faiih with us. How much soever we may be obnoxious to censure, as a Stat, for the inconsiderate manner in which the system cl Internal Improvement, wa pro jected and proeeuted, it is our misfortune, and not through any dishonest intention, bt we occupy our present position. Could we c0"ec the whole or even a moiety of the suspended