The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-12-28

ILLINOIS LEGIsLATURE.-The Locoioco
Legislature of Illinois, as might have been ex.
pected, have solemnly determined to make no
provision for the payment of the debts the
State Read the following letter from the st.
Louis Republican:
SPRIKGFIELD, H., Dec. 10, 1910.
The deed is done. The guardians Of the
state, of her honor, and her credit, have de-
creed that she had no reputation TO lose,n mo Gre
lit to sustain, and by asolemn vote of "a to %
AVE this morning rejected the bill for the pay
nent of our interest; and it will now go forth
upon the wings of the wind, that Illinois is
bankrupt both in character and in her moneta-
affairs
The previous question was moved in the
House this morning and sustained. The first
rote was upon Trumbulls amendment to Lin
oln's amendment, which excluded from the
benefits Of the bill all bonds, whetherin the
lands of innocent holders or not, where the
consideration had not been received by the
state of Illinois, and was adopted by a vote of
6 to 80. The question then was upon Lin
oln's amendment as amended, which provid-
d the means by which these new bonds that
Ve were about to hypothecate should be paid
r redeemed; the particulars of which have
iven you in former communication; and
ne amendment was lost by vote of AZ to
5.
The question then required upon ordering
] ne bill TO be engrossed for third reading pre-
4 fseiy as reported from the Finance Committee
5hich provided for the hypothecation ofbonds
non the best terms the Fund Commissioner
ould procure, without providing any means
3 pom the face of the earth TO redeem the bonds
i cd of he
& i'll in this shape the vote was: Ayes %, Nays
4.
S have now not the remotest hope left that
nv thing possibly can be accomplished to re-
ieve this misguided step, but in this, future
vents will alone prove that am mistaken.
The popular doctrine with the Van Buren,
arty for the last four years, has been that the
laioity Of Legislature body were RESPONSE
lie for the acts of that body, Let this doctrine,
hicil has been so widely inculcated by this
arty, be borne in mind by the people of this
S tate. Let them remember that the majority
the Lower House of the Van party is eleren
d in the Senate ttcelue. Let them remember
is decided majority could have passed any
that they saw fit; and that their suffering
State to be plunged into the abyss of ruin
ID disgrace is an act which, according TO their
ctrine, the majority are alone responsible
For the bill with the amendment of Trum-
III attached to it, (who is the leader ofthe
rarian portion Of this party ,)the Wings could
dwould not vote. 1t repudiated our State
nds in the hands of innocent holders without
tee, and excluded the payment of either
interest or the principal of such, because
original vendor had not paid the State the
nsideration for which they were sold. Such
octrine the Wings could not conscientiously
lction, believing as they did that it was not
in violation of the inimitable principles of
8 and equity; but, above all that, was in vio-
- of every moral obligation upon earth.
i ey went farther, and proclaimed to the ma
iiy in tones of eloquence that would have
ched stone, thai they were for sustaining
faith and credit of this State, by the only
itimate source that existed, by taxation, and
tho bill could receive their sanction which
led to increase the debt of the State, unless
same bill provided some fixed and settled
lem by which the debt and the interest would
n ually be paid.