Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1837-01-21

organized counties, according to the poPuia-
ton Of each county. The question then re-
curing upon the last amendment Of Mr.. Prof.
fit which a. amended by Mr.. Vandeveer and
nue. should be loaned among the several Or
ganised counties according to the opu!ation
Of each county at an interest of eight per cent.
per annum, were adopted, ayes 81, nays Al.
Mr.. Pepper then moved to indefinitely post
pone the resolution offered by him whi,l was
Host, ayes as, nays 40. On motion OF MIR.
RockhI the resolution was amended, by Sc
|curingto the counties which may be organ
ised this session, their portion Of the surplus
revenue.
On Monday the discussion on Mr.. Pep
per's resolution was continued. Alter many
amendments were offered, the original reso-
luton Of Mr.. Pepper was amended as follows
80 Resolred, That n select committee of two
from each gressional district be instruct
ed to report bill providing for the des,ribu-
ton of the surplus revenue of the United
States due TO the state of Indiana by the law
of Congress Of June 23d 1886, among the sew
Ieral organised counties of the State. and those
that may become organised by any act Of the
present General Assembly, according to the
population or representation Of each: Prori-
|ded, That in 1910 the distribution shall again
be made on the principle Of the then popua-
ton or representation, and providing for the
appointment Of an agent in each county to
loan the same, at a rate OF interest equal to
8 per cent nett-and that the whole amount
Of interest may be applied by the funI COM
missiOners to meet the interest due upon the
bonds of the state, executed for works of in
IternaI improvement for ten years, and that at
the end Of that time. the interest TO he paid to
the education fund of the state TO be appropri-
ated agreeable to law, and to pledge the faith
Of the state fot the payment Of the same at
repayment Of the surplus revenue to the T..
States WREN the state shall thereto be reques-
ted All further debate was cut off by 4
call for the previous question by Mr.. Vande-
veer. The question was then taken upon
tie adoption Of the resolution of Mr.. Pepper
as amended, and lost. At this time it would
require the prophetic powers Of a Cassandra
to say what the present Legislature will dc
with the surplus revenue.
| The following bills have received the sig
nature Of the Governor:-An act to change
the time of holding the courts in part of the
third judicial circuit. An act authorizing the
election Of Trustees Of the Library in Pike
county, and for ether purposes. An act to
change the name Of Mary Ann Elder Glasgo.
An at to locate state road from Blooming
ton TO Bloomingfeld. An act to change the
name Of the town of Portersville to that of
Valparaiso. An act to change the time of
holding courts in the fifth Judicial circuit.
| An act to amend the several acts for the
promotion of schools in Clark's Grant. An
act to appropriate part of the three per cent
fund on the Rome and Paoli state road in the
county Of Orange. A Joint resolution IN rela-
ton to the publication Of a certain law. A
joint resolution in relation to the improve
ment Of the Wabash river.-Democrat. Jam
uary 10.
MIR THORNTON, from the select committee
of Ia to which was referred SO much Of tine
Governors Message as relates to the state
of Indiana Of the surplus re.cnue of the Uni
ted States, together with sundrv resolutions
of the House on the same subject, has repor-
ted bill establishing the Indiana State Fun
ding Company, which was read the first
time.-Mr. Eckles moved to reject the bill.
but withdrew the motion. 1t was immed-
atcIy renewed by Mr.. Nichols, when a dis
cussion of some length took place, in which
Mcssrs. Eckles and Jones, in support, and
Messrs. Stapp, james, and Thornton, against
the motion, participated. Mr.. Nichols then
withdrew his motion, and the bill was read
the second time and continued to u committee
Of the whole House.
The bill provides for the creation Of Fun
ding Company, with branches to be located
at suitable points throughout the state, with
j special stock Of 5000, in shares Of $50
each, one half Of which is to be subscribed for
by individuals and the other half by the state.
The Company to be under the direction and
control of parent directory or board similar
to that Of the State Bank of Indiana, and con-
stituted in the same manner. One-fifth Of
the stock, subscribed for on the part of indi-
to be paid in advance, and the other
four-fifths in four annual instalments secured
by mortgage on real estate-and so soon asi
the whole Of the stock on the part Of individ-
uals shall have been subscribed for, the one
fifth paid in and the other four-fifths secured