Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-07-29

state ISoans....Mr Hoover, The prominent can
ddae, the classifying principles for the Legislature, says
Circular that loans have rccsy been made "and
probability 10, that b effected, previo the
meeting Of the legislature" Now understand that
Circular has been printed but few days, and pub
the 9Th inss three weeks ago. that large
loan had been negotiated by Fund Conmisonsn and
suppose Mr.. Hoover have been of At
the time he penned that article. Hsvch fact
object had Henry in making the above nmark.
As persons trying inpresson that
the State got money carry hes wofks and
does will be in such trash that be great loss IL
copy The following communicates from the Ind
Journal, show there be thas
head.
1.-THE loans Of this for the internal Improvements
tho Sate have boon made which should certain
y be gratifying every citizen of Indiana. tits understood
the loans made and applied for, embrace the direct
ed by the Board of Internal Improvements b loaned be-
ing $4,000 OOO-of which
S43O,OOO sold for per stocks par,
| immediate wants;
100000 was sold at a, 2 per premium for
fusal for 60 days;
100000 was sold for at per premium for
/ fusal for 80 days;
l 1000 900 sold for At per premium,
i possibly higher
go ss-s $4,000 BY
for her bonds, which clear
as the loans negotiated TO be drawn only
money required for the works. Indeed by arrange
menss made between tho Fund Commissioners and the
branches of tho State Bank the State the advantage
the depos,e lying per cent interes, the East 70,
more xhs1h'tsr WORKS here, as the Bra inches ma,
the drafts OF the acting commissioners
and at the end of each month draft PAYABLE In
~ days OH the Eastern dcposte the loan
thus tho expenditures made in State M ner
and, afford the we'll n tia, r h
community of paying their and debsssud ,.
Hrnur INV et E.-l.
paying Oh sheiF debt the Treasury Of the United s.,s.
and can furnish drafts East those who osed to ~
mil nefe' which in other States scarcely our.
a. any price, not specie our merchants
can use the paid them by citizens indebted N
shem to meet their debts At the East precisely the same a,
shey sent specie there Every knows no busi-
ness was done between any of what specie dol,
lars required pass for all would b a, ,t..s q
Of course il is with The Ssa-Ewsry contract made v q,
Tor the state in her receipts for iosn axes a well
her expenditures are made he specie basis Of e
y-so all obligations Of made either fn q, n
States and whenever specie payments rcsumed ..
due the State for loans can of
had in SPECIE although for the exgncy
sremy not, suppose, resossed The State of Ohio
pursued the Ibis Ssase and recently
made loan Of half milon under the circumstances
State, deposising in the East drawing from die
West required. Our loans however, but justice 70
fund commissioners add, MAZE On much ,uoes
favorable se"ns tnah snose OF Ohso 10 gratifying that
papers standing high in both political parties have wild
much berality accorded credit State for her 6nas
standing and operations II therefore with SINGER,
persuasion, that however may differ appiea
of the funds of the State public works. there
there ought but feeling among u.s. a. 70 ss
deas'gabe exertions Of Fund Commissioner and III
high standing Of State, East tina, The abov
statement, in the absence Of Fund Commissioners il Of
/, fsred.''
To this, we wish to append remark, that tn
raised as shown in first part Of this article 10 %
piled BY law to the payment of the On The public
debt, and of deduc,s sum from The amount To b
raised by taxation.