Indianapolis Indiana Journal in Indianapolis, Indiana
14 Jan 1837

See the full image with a free trial.

Start for Free

Indianapolis Indiana Journal in Indianapolis, Indiana
14 Jan 1837

Read an issue on 14 Jan 1837 in Indianapolis, Indiana and find what was happening, who was there, and other important and exciting news from the times. You can also check out other issues in The Indianapolis Indiana Journal.

Browse Indianapolis Indiana Journal
  • indianapolis-indiana-journal page 1 Press tab to continue slide or press d key to skip
    Page 1
  • indianapolis-indiana-journal page 2 Press tab to continue slide or press d key to skip
    Page 2
  • indianapolis-indiana-journal page 3 Press tab to continue slide or press d key to skip
    Page 3
  • indianapolis-indiana-journal page 4 Press tab to continue slide or press d key to skip
    Page 4

How to Find What You Are Looking for on This Page

We use Optical Character Recognition (OCR) technology to make the text on a newspaper image searchable. Below is the OCR data for 14 Jan 1837 Indianapolis Indiana Journal in Indianapolis, Indiana. Because of the nature of the OCR technology, sometimes the language can appear to be nonsensical. The best way to see what’s on the page is to view the newspaper page.

Get started for free with a 7 day trial.

Indianapolis Indiana Journal (Newspaper) - January 14, 1837, Indianapolis, Indiana Vol. , saturday january 14, 1837. No. 760. by Douglass so Noel. per Annunen Advance for 52 numbers�?50, at to it months�?$3 of at the end of the volume. Jav Papor will be Crisco Nimuel unless at the option of the publishers until arrearage Ore paid. Price foil lines or less three insertions 00 for each additional insertion 25 Cen longer advertisements charged in proportion. A Liberal discount made to those who advertise by the year. Brow amp Warden wholesale druggists. Thomas h. Brown ii. Walden Haven Assoc need Iceni Sevics together in in drug and Ciemia business in the town of Madison ind. Respectfully in Drin play simians country merchants and All others dealing in their line that they have now on hand and intend constantly keeping a Large and splendid assortment of Irish and genuine cd a i skied in Ines paints oils Dye stuffs glassware its c. Together with every Uri icle in their line of business. Their intention is to keep on hand such an assortment As will enable them to make it an object to merchants to give them a Call As they intend paying special attention to the wholesale business they have made such arrange tents in the Eastern cities that they will receive their supplies regularly and at very reduced prices so that they Are warranted in saying that they Are prepared to sell As fresh articles and at As Low prices As any House West of the mountains. All orders sent by Wagoner attended to the same As if the purchaser were present himself. All favors thankfully received Ond promptly attended to. Tho s h. Brown begs leave to return Liis sincere thanks for the very Liberal patronage bestowed upon him whilst doing business atone and respectfully soil a its a continuance of the same for the firm. Madison nov. 5, 1846. 50-3 to. Ivand Sale. In pursuance of an order o Ilie when county probate court the undersigned will sell to the highest bidder on inc 3d Day of february 1837, at the premises Between the hours of 12 and 2 o clock the West Hal of Section Twenty seven in township nine North of Range 4, West in Owen county it being the property of the heirs of Vance Wilson to deceased. The terms of Sale Are As follows fifty dollars to he paid at the time of Purchase one third of the balance in six months one third in twelve months and the other third in two years. Deed made at the time of the last payment. This tract of land lies on the great Central canal leading Down White River. The soil is first rate Well timbered Ond watered and lies Well for cultivation. Dec. 23.�?64p a Rezin Richards Cononi . Hiram Devinny hts opened a mattress shop be t the Oil Mill ant brewery where he manuf not in Siirid keeps on hand mid for me Moss and hts m v i tresses. O t 1-4 n. B a cushions curtains and carpets Wade and repair Rel Iti the Best manner and it Short notice. L wishing to be Supli Ltd will please to Liim a r. a Tea chair wanted. An individual Well qualified to teach the different branches usually taught in an English school will meet with suitable by applying to the undersigned three Miles so Iii of Indianapolis. , Hugh a Daniel dec. 23, 1836. Trustees. The state of Indiana Marion county. Marion circuit court Lor May Tenn a. U. 1837. David Williams is. Writ of Domestic attachment. Robert Cummins. By he above named plaintiff having filed in the Lul clerk s office of the Imarion circuit court his affidavit and Bond according to Law on december l6ih, 1836, a writ of Domestic Ana Chat it was issued Bailie clerk of said court against the lands and Lenin ends goods chattels rights credits moneys Ond effects old Aid defendant Robert Cui Timins directed to the sheriff of said count v of a Marion which was i hereafter wards to wit on the filth Day of january a. D. 1c37, returned by Corson Vickers sheriff of said county executed on the following got is and chattels moneys and effects of said defendant to Wii i hide and 2 sides of tap leather 13 Morocco skins 23 papers of tacks 1 lot of buckles and knobs 3i lbs. Thread i lot of holdings 1 lot of old rubbish i list i of lamps 1 Barouch Carriage and body i lot of spikes i lot of Ash Plank i turning lathe 1 set of stage Whei is not ironed i ironed i set Bellows 2 anvils 2 vices 2 set of Smith s tools 1 lot of Iron 2 Small screw plates i Axle Tiee a Crew plate 1 lot of old Iron 3 pieces of steel 1 stage Carriage 1 Brace i Oil Stone 1 stove and Lipe 1 grind bronc and Crank 2 hand saws 2 tenant saws 3 drawing knives 12 Compass saws 18 planes 25 cd diesels 14 gouges 8 augers 1 lot o tools,4 heading ,5 gages 1 Brace and 75 bus 13 drawbar 3 Seis of hinges 3 3 sets of locks i vice 1 Square 2 Bench a is 5 hand a Crews 1 Holdfast i wheel screw 1 wheel horse 16 a Tage boxes i set of unfinished wheels i Broad , 800 feet of Poplar Plank half Inch 3 work benches i lot of screws a lot of old lumber 1 lot of paints and cans 3 stage bodies i Small stove and pipe 64 sides of harness leather and thirty dollars and cents in Cash. Therefore said defendant is hereby no Ifield of the Pendency of said writ and is required to appear and defend at the next term of said court or the same will be heard and determined in his absence. Attest Jan. 5,1837.-58i4 Robert b. Duncan cd k. Office of the Indianapolis insurance com a ii dec. 22<l, 1836. The stockholders of the Indianapolis insurance company Are hereby notified that they Are required to pay to the Secretary of the Board the sum of one Dot Lar on each share on the 1st february 1837. By order of the Board. N. M Carty pres t. Attest Caleb Scudder Sec y pro tem. Instalment of one Dollar on each share is required to be paid by the stockholders of the Indianapolis insurance company to the Secretary on the 16th of March 1837. By order of the Board. N. M Carty pres t. Attest Thomas d. Gregg Sec y. Instalment of one Dollar on each share is required to be paid by the stockholders of the Indianapolis insurance company to the Secretary on the 1st May 1837. By order of the Board. N. M Carty pres t. Attest Thomas d. Gregg Sec y. December 17, 1836. 54-2w the state of Indiana Marion county. Marion circuit court May term 1837. Petition for divorce. Huston Russell is. Jane Russell.,. Cd it being made satisfactorily to appear by the Alida Vit of a disinterested Peison filed in the clerk s office of the Marion circuit court on the Date Hereof that Jane Russell the defendant in the petition of Huston a Tussell for a divorce also filed in said clerk s office on this Date is not a resident of the state of Indiana therefore the said Jane Russell defendant aforesaid is hereby notified of the filing of said petition that unless she appear and plead answer or demur to the a ame on or before the Callins of the cause at the next ensuing term of said court the petition As to her will a taken As confessed. Attest Jan 3, 1837.-57 Robert h. Duncan cd k. Takejo up by Elijah Dawson living in Washington township Marion county la. On the �9th Day of december 1836, two strays one a b ack Mare Colt with a Star in the forehead the right Hind foot White to the pastern joint and the left Hind foot has some White on the inside and on the other Side a Gray color up nearly to the knee the left fore leg has a scar supposed to be occasioned by a Burn about 13 hands High supposed to be two years old next Spring appraised to Twenty two dollars. The other is a Black Mare Colt with both Hind feet White up to the pastern joints about 12 1-2 hands High supposed to be two years old next Spring appraised to Twenty dollars by Carbon r Smith and Robert Culbertson. I do certify that then Bove is a True copy from my stray Book. Given under by hand and Seal this 29th debate on my. A Hok Toiv s Blix to dispose of the surplus Revenue. Or. Eckles nov ii ton Jec the Bill. Or. Thornton a Lori used he House in a speech of half an hour s Letigia against the was followed by or. Jones. Or. Jones said or. Speaker from what has just fallen front the honorable chairman of the Coin Milter reporting this Bill i feel myself called upon fit once to Lake a position Agni stits further Progress in this House and in favor of is rejection Bui 1 will notify gentle Nen in Advance that by the course which 1 shall now pursue 1 do not intend to be understood As declaring any Jire Ference fur any project f to the a Propri it Ili it in or disposition of the Quot surplus Revenue Quot but Only my decided Nind opposition to Opi Psi Vioti o this Bill is not the Vuil of Uii preconceived re juices in favor of any scheme Tif my own or any other gentleman it does not Ai out of my bitterness of spirit Felt by me to wards any member of the honorable committee by whom it was reported neither does it flow from any sectional or local feeling tint from a thorough con Vic lion of he tier impropriety of this measure and from the Assurance that the character and in Cresis of Llie slate will be mat Erifilly jeep added by would have been Willit Iglo have Perini led to big Fiill to have a.s5ed silently to its second Reading and in hive reserved my opposition to it Lilla Laier stage of Sitf pro it it Ress but that a to notion hits been made anti Sei Ondell to inject it and that the honorable chair Man of he Clint Ninilee by whom it was reported has m a Lofland declared thai he does not regard that Molion As an infraction of the Courtesy Quot fihe Ploufe but islam ppm that in has been invade Ashe is solicitous that the friends and foes the measure May by known and he quote disown very polite and tasteful Lang tip that Quot die goals May he known from the being decidedly o it Poi Edas Lam to ibis Lull find being ibus called upon by that gentleman in obedience to my own sense of right i take my course even though by so doing i shall the appellation so politely applied by the honorable chairman to All those who Are to unfortunate As to differ with that distinguish cd it tit pm in in rela Triin to this favorite fabric of Lipscre Ilion. Sir Hugh i shall evil Down on my Devoti d Bead the Aii Ithema of thai influential and shall be by Bim fumed Over among the "gont.-,&Quot fur representing firmly and Iii fully the wishes of my constiiuent.-, 1 will take leave Tiosav to this House that 1 a it jul l much pref. R on this occasion the unfortunate recipient of the appellation which Falla so bitterly from that sent Lemari s Fiji than to be the proudest ram thai Ever has had m foot i bin Titis b in and to to Nisi present them. That very candid gentleman has said Diat he i Favora Ile to Liis in Jacl because in is Adverse to the placing of he Quot sur Lus Revenue in the branches of the Buik now existing m one of a bib he is a stockholder and has a favorite son engaged and la which he is directly a Cor Able Inas Ucli As there is already a spirit of Discon legit and suspicions Iii Aisig up in the Community towards Ilia instill Tion that he is willing to Soo tiie and quiet the Public and to silence that popular discontent and therefore wishes to build up this come any As an Quot Power Quot to keep the blk Wii Bui is proper limits. Let me ask you. Sir whence a rises this Riis Coit int this suspicion these in arson Lii h the gentleman Speaks a Bev Spring Fiorin the declarations of Peis uis when like that gentleman first Pioci aim their existence and then fan into a flame the spank which they themselves from motives have in kindled they o Ngi Nate with la Jse who insinuate that they have a Ichih and availing themselves it if their it in Insinna lion magnify it into a reality. by must Chi Lien Tiernan feel his Mittac Brent id his Mavorite and cherished institution now so decidedly and so deservedly popular when he avails itself of ibis place in this House to awaken Dot uts of its Inlet qty and to arouse in opposition to it which list for his exer Iio is would have slept a when he seeks this place a info this occasion to declare How much he loves it and Yei How Little in deserves that if ibis be his Friendship and this his favor in May Well ask 1o be delivered from such a Friend and such a with the spirit of prophecy upon him this eloquent a Endeman has run a parallel Between the slate blk of Indiana and the Bink of the United s ates and foresees in the downfall of Theonette ruin of he odier. Permit me to Sav sir that the parallel will not Hilda he blk of the United Stales was assailed by the executive of the United Stales. It had to War with the combined energies of the Federal government unaided by any auxiliary the state Bank of Indiana is engaged in no conflict exec l with Petty Village demagogues Anil in that conflict is supported by the people. I he Bank t f the United Stales fell i he stale b Ink of Indiana will be sustained. The influence w Hatch have been Felt As flowing from that in Tito ton As proud citing a healthy currency and giving Hie and Energy to the business transactions of the Coli Witry has Given it a hold upon the affections of the people themselves of such strength that until in Hall be guilty of some transgression which shall Merli Public reprobation in May safely defy the attacks of its enemies whether they Tony be open and generous or covered by the veil of deceitful Friendship Here or. Jones gave Way for motion to adjourn. On thursday morning the Bill was taken up and or. Jones having the floor resumed As follows or. Shaker As i took occasion Loo serve on yesterday in the course of the debate my opposition to this Bill did notaries out of any hostility to the gentlemen who composed the committee reporting in to this , nor from a desire to thwart the wishes of any gentleman who is entitled to a Seal in this Hull. S a my being governed by any feeling of unkindness towards any member of Llinat count Niitme i have hitherto entertained and do still entertain the highest respect for each and Alt of them and i recognized among them several gentlemen whom i am proud to claim As my personal friends but if As has been strongly intimated by the honorable chairman of that comr Nitalee opposition to this Bill is to be considered by any gentleman an act Ltd of personal offence which will sever the lies of Friendship and make me a party to a conflict for political life or deals Ali oui it a i regret the necessity which requires in Holitik which no to this moment has bound Melo others must be broken amp if needs be i must measure weapons wih an antagonist in deadly warfare. Sir i can neither sacrifice the interests of those whom i represent nor my own views of propriety to preserve the Good willies or ensure the kind Oil ices of any. J he last five years have witnessed the creation of an innumerable Host of Petty corporations within this state framed for the purposes of speculation the View to the acquisition of wealth regardless of the Means and with the intention to cover the strongest cases of fraud and opposition most admitted. Under the a pretending lilies of Quot Sav Ings institutions Quot Quot insurance companies Quot and a manufacturing companies Quot we have in almost eve cry town Village and Hamlet within the slate an irresponsible body whose sole occupation is shaving. The Quot manufacturing companies Quot instead of prosecuting the business which their Charters suppose to be the primary object of their incorporation Are devoting their whole energies to the manufacture of mortgages and the Quot insurance companies Quot Are sedulously employed in insuring the ruin of All those who seek for safety beneath their pestilential Shadow. Sir in granting Charters our past legislation has been Liberal to . Some companies have perpetual privileges some Are unrestricted As to the amount of real estate which they May hold or the purposes for which they May hold it some Are unrestrained As to the rate of interest which they May take and some Are not limited by any provision As to the extent of Iii abilities w i Chehey May incur but sir it was reserved to this Cornomi Leeto report to this i a it us o a Lull in get it Pori Titi i o company with Quot Quot to its privileges without restriction As to the land it May hold without restraint As to the interest i May take with Power to enlarge its Stock to any Rmoutil at any time when its directors think it for the interest of he company and where the slate is to be a parti cups Criminisi to a its frauds and ultimate endorser for All its liabilities. 1 am fully aware that 1 am t Eai Iii upon ground which is looked upon As sacred by those who regard a Fortune As a site Nafur Ophir is Sion thai i am unveiling secrets which the represent it Ives of the monies interests hold inviolable hat i am of Riding the sensitive ears of gentlemen who regard it is an offence not o be forgiven that they shall be slopped in their Forward March to self aggrandizement. But if gentlemen to cover Ibe hideous visage of the idol of their worship with a Silver veil and that 1 shall Bow Down and offer up Tny adoration at the foot of the same alter to the unseen Filorie of their deity painful As it is i must u deceive them even if by so doing i shall be necessitated to speak in tones less grateful to their delicate senses than the dying cadence of a summer evening s Breeze or the last fading note of the Dian chord. Sir the to Norahle chairman of he select committee reporting this Bill disclaims the Honor of ifs Pai for nity and announces to the. House that it is the child Ofmani fathers that it is tie fruit of Iasi joint exer Lions of thirteen of the fourteen Cost Viltee men. And the ii a Coli tiry list All even fabulous preceded conceived and after a Ninny a s of agony Neil godly Travail Broil fill Forth the monster and sir like All parents whether of cherubs or demons he proclaims the beauties of the battling and in the full Al Lodo his a Lection for Bis a of Sprino f i gets its foul Felon in lies and us to clasp it to our bosoms. Eor my Seif As s the sort of Ati apology to the honorable chairman for Tny refusing to embrace the Chi d of his age and As a to this House for my being guilty of so Gross a want of Couric by to that gentleman i will Lake the Liberty of detaining the Jouse while i dissect this Bill and present som ii of tie leading eater is of the character possessed by the corporation proposed lobe created by it that members May More Folly its beauties. This Bill incorporates a company with Only thirty five branches one of which doubtless Vith the most prai&ewo7 thy motives is located in each of thirty five. F the f Ray eight s. Natoria di.-, it f the stale a i j Ich of these Brati Clies is an indexer Ideal corporation with Power to sue and be sued to Deal in Exchange and promissory notes t it loan Money on , at any Rale of a Lertis not exceeding ten per i centum tier anti him or on mortgage of real Estale at Liiv Radii o interest it May be Able Tosef to hold any amount of real estate for any thine and for any purpose to receive Money on de Osite and As to Niquie lot rank Are unities make insurances of All kinds Whitso Ner and has a capital Stock of i obey to Iii anal dollars divided Tito a hares of fifty dollars each and owned one h. A Quot by the state amp the other half Byi udi Vadnals they Are mutually liable for the losses which they Mav sustain. J hire is a Parent Board Holdi Iii a Emi annual sessions at Indianapolis consisting of a president elected by separate Ballott of he Legisla tire the state i treasurer who Isa member sex offi ii one director elected by each Branch and four elected by the legis a ure on separate ballot of Lynh houses. This Board exercises a Lite cited control Over the in Anches and to try the reason the capital Stock of the company at pleasure. 7he branches have not less than seven nor More than Fen directors elected by the Sto holders and three appointed by the Parent Board. The stale has the right to inv amp a school funds As Slock in it hereafter at discretion. Two five cents of dividends in each shr a of individual Stock Are reserved fir the purposes of Educ Ali in in lieu of All taxes and three per centum per annul of the dividends on state Stock for education also the branches May Issue certificates of Deposit Atid All such certificates and All Hills notes and Bonds payable at any Branch or which no a be made by any Branch Are made negotiable in the same manner As Inland Bills of Exchange and he privileges of the company Are perpetual. The stale Stock is lobe paid for by the surplus Revenue the be received from ted United Stales under the act of Congress depositing the same with the , and the branches Are bound in upon certain conditions being complied with by the stale treasurer to pay the requisite funds into his hands to meet the Calls which May be Marie by the general government upon the stale for the Revenue deposited. The Quot surplus Revenue Quot or. Speaker is in important fund and one in the disposition of which the greatest circumspection should be used. No considerations of local or individual advantage should be permitted to enter into our views or shades of party Leeling to color our conduct. We have a High and important duly to discharge and one which demands the renunciation of All sectional feel info and the abandonment of Mere party tenets. Whatever May be our opinions As to the general government s re. Calling this fund or our right to it Nusl rally consid ered As things now a Joist we Are bound to look Ripon in in our legislative capacity is a Mere Deposit liable to be required at our hands at any hour and �1 though i like the gentleman from Floyd or Thornton can say thai t have never been in adherent of the present chief magistrate of the United Sfa a a i View his inst message As containing a warn ing that Quot the spider s Uriost attenuated thread is cords is Cable to our slender hold Quot on this fund a warning which we Are neither at Liberty to forget nor de.spi3e, and with reference try which our present action should be regulated. It is now circumstanced As we Are too late of Russo dispute the question of right Tipon this floor a the act of Congress has fixed the character of the transaction and we by an act of this session have solemnly pledged the Faith to receive and return this fund according to the provisions of he act of haying Coti seated to Reca ivs it it becomes our indispensable duty to provide the Means of re payment at Iny instant when the United Stales May demand in. This Bill proposes a Mode by which the fund May he restored to the stale Treasury to meet the Call of the general government but Ono which i conceive 13 wholly inadequate to the emergency and should this company Ever fail or refuse to comply with the needful requisitions of the in easier of state to make the advances no Means Are provided by which the Ere Dit of the state can be saved and her Honor held inviolate. In that contingency the pledge Given to repay the United Stales must be of i refiled and cannot suppose that any gentleman who now hears me would consent either wantonly or negligently to slain our National Honor. The disposition of this fund proposed by this Bill has been advocated on the score that it will to More profitable than any other Andas preferable to scattering it throughout the state. I regard Ilas of far greater importance to the slate thai the fund should i a Safe la in that it should Nett As profit that it should be Khiu her a profit than thai it should Yie lil an exorbitant income and be Eyono her Power and in Hazard. And if considerations of Are to have any influence in the course we shall pursue no manner of disposition which could possibly obtain the approbation of this House can be More object unable. J he expense to the slate will be annually $2000 on each Branch of the institution and of these there Are thirty five Iti aking an aggregate expense of $70,000 per an numb to be borne by the slate. And As to the Qutul being scattered Over the country in is Only necessary to reflect that this Charier creates whirly five branches and makes provision for an increased number of Hern to silence All Camiling on that Point. The privilege of insurance which is Given this company is regarded by some gentlemen who will doubtless urge it upon this House As a privilege of an important character and not an object in in is much As it will tend to increase the profit to be derived from the capital invested. This sir maj be True in private companies in which the state is not concerned and where the owners Are willing to make great risks to reap exorbitant profits hut it would be Oer Galory o the character of the state to embark in a contemptible speculation in Petty Hii girds. I can never give my consent to Sec the state engaged in a disgraceful Enny risks. In Rny Conception this Power of Iii Sut ing is one of the most objectionable fe4ures in t e Chat ter leaving All Asti mate of stale Pride out of the question. It tends to demoralize the people of he state awakens an Uii quiet spirit that else would sleep and puts the prospects of the state upon the Haz ird of a die. Sir this charter gives the company Power to insure on lives and on property against losses or damage by fire or water it has Quot As am be charter As the wind Quot a to bet on any Wager in May insure against Quot god and the King s enemies Quot without the consent or concurrence and beyond the control of he state and yet she stands ans it arable for All losses at All titles and in All events. Sir it must he within the remembrance of Many of the gentleman on this floor Itiat within two or three years past under the Requist lion of the Law proceedings were taken against tie insurance Cornea try at Vincennes that these proceedings had their origin in the action of one or he other of the branches of the legislature originating a Bill which eventually became a Law and that he incentive to the passage of that act was the issuing of certificates of Deposit by that company As a circulating Nedium. The i gis Lalure seems to have gone upon the Assumption that such procedure on the part of that body was unconstitutional a and the Saine opinion seems to have been held by every legislature hat has granted Cli arters to companies As they have invariably thrown into them a provision that restricts them from issuing Bil i of credit or promissory notes payable to order or b Are. This Charier gives the company a right to Issue certificates of de polite and such certificates of Deposit Are negotiable As Inland Bills of Exchange. Permit me to say that in my opinion this is a violation of he Constitution notwithstanding a color is thrown Over the privilege by the pro i ions of the previous Section. I will ask whether Banks May not exist without the right to Issue promissory notes and whether certificates of Deposit negotiable As Inland Bills of Exchange do not to All intents answer the same purpose and produce the same results As a promissory note issued by a Bank and whether such certificates Are not Bills of credit and Bank paper it is Only needful that the certificates be made payable to the Secretary or his order and that he should endorse them Quot pay the bearer Quot and they would be transferable on delivery and if payable on demand would have All the essentials of Bank notes sir i leave this question to be set tied by gentlemen to their own satisfaction. We have been told or. Speaker that this charter is in the main a copy of our Bank charter. Sir it is True that there Are a number of sections taken from the charter hut those Are of an unimportant character. All those which relate to the Powers and privileges of the company arc of an entirely different pattern. Those provisions of the charter of the Bank which thru w restrictions around it have been most anxiously avoided and in cutting the printed sections from the Bank charter to to form a part of this Bill care has been Tak Etilo erase one of the most important features of that charter in relation to Loans. Sir 1 refer to that which prevents directors from borrowing from the Bank upon any other than tie usual terms. This alone is a demonstration that the Only objector and the Benefit of the few at the expense of . And i regret to say that the More scrupulously it is a Xam Jned the More clearly will it appear that the sold wish in framing this Bill has been by specious but Falln Coua checks held out to View upon the surface and by consulting the prejudices and local interests in this House to procure its passage without its being subjected to to rigid scrutiny. The friends of education Are to be soothed into silence by that portion of the dividends it apart object the internal improve ment party is to be caught by the bait set for them in the shape of a portion of the profits on the Stock and those who Are o posed to internal improvements Are to give in their adherence because of he location of the branches. And sir allow me to Call the attention of the House to another feature which at this moment presents itself. I allude to that provision which allows the state to make the school funds Stock in that company but which prohibits the state from Selling such Stock to any other at any Price if the branches will take it at Par. No matter what May be the Market value of that Stock nor How much it is a Bove Par the state is not to sell it to any other if this band of blood suckers will consent As an act of the greatest condescension and favor to take it far below the Market value. Sir if human ingenuity had been taxed to the utmost to invent a scheme for Success in the ? Ond licentious to it Pucul i Soiu where the interest of the state Vas to be made subservient to Indi Vidigal wishes and where her character and fortunes were to be linked with and to sustain those of a band of Lawless gamblers none More i factual could have been formed. The sole object and design in framing this charter seem to have been to enable class of individuals so eloquently denounced by the honorable chairman As Quot a monies aristocracy Quot and Quot Ruil cd shirt Gentry Quot to make fortunes upon the credit of the slate whilst hey might save and shield actors beneath her Mantle heaping tiie opprobrium of heir frauds oppressions and crimes upon Here and securely beneath the Shadow of her name escaping tie odium. If the Bank be an Quot Quot and an ulcer Quot upon the body politic which the Public weal Why does tit the distinguished gentleman who reported this Bill bring Forward some measure which will tend to preserve the country from that Wiki spread ruin which he Antic potes Why does he seek to add another cancer whose roots Liall strike wider and More deeply into the vitals of the stale and i hich must hasten Lii coming of that perilous period so greatly to be pc tired if the Oili cers and Sio hold Iris of the blk Aie a Quot Morii Efi Aristor Icv Quot reaping where they have not sown Ami exercising a Dao Erous Iii hence upon our final polity is in not madness to rear Anoil Ier inst Ilion like tins to Domineek Over the and not upon the sighs and tie tears lie and he of Mankim sir Ilis the Viry Acme of Poi Nical to Acker and son of create this Quot Antii Genisl Power Quot Recomb nettled with such self by the Honor iliac gent in Ari who reported this ii the blk has a aligned the distrust of he Community if it be a Dang Rous engine of oppression a hedged Abunal Quot As it is w ii restrictions upon All its privileges i it have we not to apprehend Froni body Willi a Riuichi a created in every portion of tie state find with Powers wholly under Lari ii i we have null in to Hope and every thing to fear to can expect nothing from the Power Tui conduct of the a i ent Board Fiji rectory. Lis author ii is but nominal if in would exercise it i r the common Wei Are. Its coi Duel will he governed by its Iti Terest however detrimental that interest May be to others. Nothing can be looked for from the Power of he state the charter when once passed is be Toul die read h of All legislation and it can have no influence in deciding any question of either Pover or to be settled by that Board. I would ask How far could the state control the action of this Cor oration when no directors in the branches Are elected by it and when it has Ordy six representatives of the cons inulin the Parent b lard. In can have Tione not on a nominal control the voice of the Public will be lost in the clamor of individual avarice and Iho rights of the stale will be hazarded to minister loan uus Tible thirst fir gain. Sir Hill Wirlo we have stood upon High Ami honorable ground we have been a Happy and Independent people hut our fair Fame May be tarnished and our Independence lost by one misguided act of in. To the Host of Petty Quot shaving shops Quot that within our Border and now spreading ruin around them let this he added with its capital of iwo millions Eglit Hundred thousand dollars its unrestrained Power of acquiring and holding real estate its right to lend Money on real Security at any rate of interest and no Eye can foresee what consequences will follow should no disaster overtake the company unless the director s of in be More than men but a few years can a hips until the influence which it will a land Long h creditor will he sufficient to determine All a a Oli Lical controversy at the ballot Box and the i of Twenty one men sent Forth from the office of the company Al the Metropolis will fix the Fate of every aspirant to Politi Lotical these evils will not be of shot Tor even limited in ration a they will con time As Long As the stale exis so f that shall be through All i Minig time. A Chain will be thrown around us which can Only be broken by a convulsion w hich will shake the social edifice to its foundation or by a revolutionary str guile which shall Lay it prostrate and in ruins. Or. Ja.v1e3 said or. Speaker i am one of the Commilee of fourteen to whom was referred the Resolution for disc losing of the surplus Revenue. In presenting the different views of gentlemen com Osing that commit lec there seemed to be the following objects in View 1st, to place it in Iho Banks 2il, Loloyan in by commissioners 3i, to give it to the counties for any object they might apply Iuo and 4lh to fund it out of the Banks. The project of placing it in the Banks seemed to embrace four different propositions 1st, to place it in the b tanks to be by them loaned out As other monies are2d, to be loaned for a greater length of time than Banks usually loan 3d, to subscribe the amount is Stock in the branches already established and fourthly to establish new Branc Hes with the fund. The objection which presented itself to me Aste the placing it in the Banks to to by them loaned out As other monies Are was this that inasmuch As the Banks have the Power to extend their circulation to 2i of their real capital they would nil accept this fund Vii thou placing it on the same footing mid pay an average of interest for a Dollar at interest is not Worth As much As if you can on ils ii Redit loan dollars. The i second proposition which presents Iselt to me is the keeping in in the Bank a separate and distinct fund., and to be loaned for a greater length of Lime on real estate Security. The objection to this is that it would give Iho Bank great Iro Tihle which Tii ust be compensated by a tax on the fund itself and in consequence of Bere being so few Banks it would necessarily fall into the hands of the few individuals Loca ted near it and to the exclusion of he Many. A further objection to both propositions is that the fund so invested could not pay As great an interest As the one embraced in the Bill before the House and to which i shall hereafter allude nor would it get As general circulation or give As general satisfaction provided the Banks would accept it on those terms. The third proposition of placing it in the Banks is to take an additional amount of Stock in the Banks Al ready established. This sir can Only be done by granting the privilege to the Banks to extend their paper circulation to 2i of the fund itself. This air will be necessary to place it on the footing of other funds employed in the Banks and will require an additional expense in the Issue Ofa new Batch of paper which will be put into circulation to accommodate this particular fund. Now sir 1 am fully persuaded hat the Banks will not accept of it even on these Terins. Sir if the Banks wish to their circulating medium a if they find that More funds Are necessary to accommodate the country in which they Are located have they not the Means of increasing that Ltd Bour terms than to accept this fund it is a provision in their charter that when the business requires it they can increase their capital Slock. This sir has already been the Case with some of he branches and As nil did not embrace the offer to increase their circulation in is conclusive that All did not want it. And sir is it at All probable that while they would not embrace an of a fond so permanent they would accept of this Uncertain fund another proposition has been triable to create new of the slate Bank with this Funi. The objection to this proposition seems lobe the uncertainty of the fund itself. In is known to All of you thai we Only exercise the control Over ibis Funtal that it belongs to the general Goi nun end and hat these rotary of War has the right to draw for in. Whenever he leases. It is True gentlemen May say that he can Only draw for in on certain conditions. Ini say he owes no to us. I he very fact that he does draw is conclusive evidence that the government wants the Money and his draft will to the voucher and sir we Mav expect the i a silent elect if he finds that Public opinion is in favor of its being applied to some other object will so apply it for it is notoriously known thai to a opposed toils distribution among the states. What sir will then be our condition with several b my. Predicated on this Bor never fund Why sir to will have to breakup those Banks created flir the employment of this capital or resort to a tax on the people to raise this Money. And sir the Latier w ill pro Bailly prevail. And sir being oppose to a lax on the people for any object other than thai of supporting tie government i shall go distinctly creating an institution which wiil he Likely to Uiti Malelya have that effect. Or. James alien stated his objections to the proposition to Divide it to the cout Ilies of this state and apr Point a Damn missioner to loan it j he in St proposition a bib i shall speak of is to fund it out of the Hanks. In View of this proposition the conf Milice have drafted he Bill which now lies on Iho clerk s table and which ii is proposed to reject. In making a Bill the provisions of which Are so extensive it could not be believed that the few what drafted it could meet the interest or even the views ofe Verv gentleman either engaged in the labours duties of this House or the com Annily at committee anticipated no such perfection. They look the Middle ground. They propose by this Bill the adoption Ufa measure which i think wiil in Tho greatest possible degree place the fund in a situation entirely Safe where it will yield the greatest in Ernst and accommodate the greatest number of people and if the location of Iho offices or any other provision of the Bill Are not such As to produce thai eff eel the Bill itself is in the Especial keeping of ibis House and they can alter or Amend in so As to produce that effect. This Bill provides fora s a que Ulf ire with branches at the different important Points to the number of some so or 40, with Tho provision thai Befi ire this fund can a drawn from the Treasury an can Iveland must be subscribed by Audi Vid nails. Tien sir instead of one and a half millions of dollars being placed in institutions for the purpose of being loaned out to accommodate the wants of he people the sum of three Quillions will be applied to thai Olive cd thereby accommodating a greater number of persons. Another important object is Allain a you place it in All the business Points and Divido it among so Manv offices Itiat a greater number of persons Are . A As to the safety of the fund Quot i cannot at Al be doubted that a fund of forty thousand dollars will be Safe in lie hands of men who arc Able to Backil by an equal amount and its Security is placed precisely on the same footing with Bank securities and the interest will probably be about the same. Bat the great advantage in this is that it in the greatest possible degree a Comiti dates the people. I make this assertion sir without any fear of contradiction for although it May be argued that by placing it Ita the hands of a commissioner in cach county the people May have greater Access than if Only one office is established in every two counties yet from the very a Lan Wcroft it ting it will fall into the hands of the few. Here or. J. Went into detail on the operal Odi of the imposed institution but sir the Tanner Here proposed to loan the Money while in gives to the applicant All the advantages he can receive e from a loan from Bank gives him Tho add fictional advantage of a longer time. In is a fad Well known that the b inks cannot lend their Money on Long time from the fad that hey lend More Money or Issue More paper than they have specie to re Dei to and the accounts of Quot Banks Ara always considered healthy when their specie and Bills and notes purchased balance the notes in circulation. Now it is self evident that if All this paper which they have put into circulation should be returned upon them suddenly they could not redeem in and would have to suspend the payment of specie until they could collect their debts. From this circumstance Iti that Banks cannot loan Money for a lung time. Not so with this Zinsli fusion. They Only lend their Owis Money. They have no Power to Issue paper Tod consequently no fear Ofa run on them for specie. They lend the kind of Money they May Chance to have on hand and for just such Lime As suits the Borrower. By this Means then you accommodate hat very interest in the stale that the Banks from the very nature of their privileges cannot. A the the expense of managing this fund great Misti ikes or Vail. F Here or. J. Showed the relative expenses of Snake in the proposed institution As to the interest Derivable from this fund it Cao be applied to such objects As this legislature Best. But sir inasmuch As some gentlemen wish it applied to pay the interest on state Leof Worfie others with equal claims wish it applied to pure Iii Iii if education would in nut be Beuer 1� hive Dietho in Terest so As to Saccom Modain both Partie As to the objection to ils Power toehold real mum a Tel i a t

Search All Newspapers in Indianapolis, Indiana

Advanced Search

Search Courier

Search the Indianapolis Indiana Journal Today with a Free Trial

We want people to find what they are looking for at NewspaperArchive. We are confident that we have the newspapers that will increase the value of your family history or other historical research. With our 7-day free trial, you can view the documents you find for free.

Not Finding What You Were Looking for on This Page of The Indianapolis Indiana Journal?

People find the most success using advanced search. Try plugging in keywords, names, dates, and locations, and get matched with results from the entire collection of newspapers at NewspaperArchive!

Looking Courier

Browse Newspapers

You can also successfully find newspapers by these browse options. Explore our archives on your own!

By Location

By Location

Browse by location and discover newspapers from all across the world.

Browse by Location
By Date

By Date

Browse by date and find publications for a specific day or era.

Browse by Date
By Publication

By Publication

Browse old newspaper publications to find specific newspapers.

Browse by Publication
By Collection

By Collection

Browse our newspaper collections to learn about historical topics.

Browse by Collection

NewspaperArchive FAQs

Looking for more information? If you’re not ready to talk to a representative, here are some frequently asked questions to help you determine if institutional access to Newspaper Archive is for you and your institution.

Newspapers allow readers to step into the life and times of past decades and centuries from all over the world. Not only do they have interesting and unique articles and photos, but they also have advertisements, comics, classifieds, and more.
The NewspaperArchive collection can be searched several different ways - advanced search, browse, and publications. The advanced search offers filters to narrow your search for more precise results.
NewspaperArchive’s collection of newspapers boasts more than 85% unique content compared to other newspaper sites. In addition to big city newspapers, we have a wide variety of newspapers from small towns that hold a wealth of information about day-to-day life. Our collection dates back to 1607!