The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-03-07

not sinners like some others. This question,
like the others Mr.. s. had discussed, was not
subject 10 abstract boundaries. IL might or
il might not be prudent for State to become
indebted the same might be said Of indivl-
duaIs but a rule that denounced all the IN
debted States, and eulogized all those who had
not incurred State debt, might be very liable
to deceive those who relied upon il. Surely
it would not be contended that either States or
individuals who incurred debts were, merely
from that circumstance, objects OF public cen
sure This was the great error, Mr.. ,. re-
peated, into which the Senators over the way
had mcautously fallen they dealt with abb
stfact principles, and not with facts, and
People as they exist. II certainly did not fol-
low that, because a State or an individual was
ia debt, therefore she or he was not prospe-
rous; on the contrary, it would hardly be con-
tended that, because State or indivldual was
out of debt, therefore she or he was prospe-
rous. All experience and all knowledge Of
men proved to the contrary. As the Senator
from New Hampshire had thought proper to
allude to this matter with much sell-compla-
cency, MIR. 5. would say to that Senator that
the State Of Indiana was one of the debtor
States; and still he (Mr. 81 was entirely
willing to compare notes with the Senator as
TO the relative advancement and prosperity OF
the two States. Mr.. ). adverted to that mat
ter with much pleasure, not only as question
of comparison, but because his Stale and her
debts had been made subject for discussion;
her debts had been marshuiied before the
Worthwhile her resources had been studously
kept out Of view. This was, to say the least Of
il, unfair. If her pecuniary affairs were pro-
per subject for discussion and animadversion
I'll l.. ..I l,t.yh h.Ia H..
told. 1t was true, Indiana had incurred
State debt, but not to the amount stated for
the purposes Of internal improvement, and
for her banking capital. The policy adopted
by her was her own, for veal or wo, and il
was 10 the wisdom Of her own counsels she
had to look in the emergency; and here he
would say let the remark fall where it might,
that, so far MS those counsels were concerned,
he had regretted TO see that spirit Of criminal
ton and recrimination had crept in, growing :
out Of general politics. Parties were arrayed,
not SO much upon the question Of her indebt-
edness, as TO the question which OF the great
parties had induced her To involve herself SO
deeply MIR. S. said he was bound in all can
dor to say that it grew out of the times in
which her debts were contracted all politi-
cal parties were stimulated, they ventured too
gree corresponding with their locality, and an
ticipated benefits resulting from her works Of
internal improvement. Her State Govern
ment was in the hands Of one political party.
while that Of her sister, Illinois, was in the
other and yet both incurred responsibilities
at the same time, and each had acted doubt
less in manner which she believed at the
time to be correct, but which had proved dis
astrous, owing to the revulsion in business and
scarcity of money but still he ielt bound to
say that each was, in his mind amply able to-
discharge every demand upon her, nor would
either ever for a moment violate her faith, or
give any just cause to suspect her honor.
Mr.. S. said he would read an extract from
the last message Of the Governor ofhis State,
which would show TO the gentleman from
New Hampshire, and the world, that Indiana
would at least compare with that State, or any
other State in the Union that had made no
Improvements and incurred no debts. Indiana
was admitted into the Union in the year
1916, with about the constitutional number of
10000 souls. Her population on the return
OF the next census would be found to be not
less than 100000. Mr.. S. read from the last
message of Governor Wallace, seine extracts.
" The assessments Of taxable property the present
year quite favorable they exhibit most gratifying
results and prove beyond question that both the popu-
lation and wealth Of the State have been steadily on The
increase the taxable polls Of l839 amounts 10 95 1856:
but this is evidently much below the estimate as
the aggregate vote at the last Congre cleo
ton very clearly demonstrates, that being 90 500
Indeed, have little doubt but that a close and
careful would have returned not less than
$4,000 polls In 1888, the total valuation of all the
taxable property Of the State amounted to $97 O5s, O94;
this year. that amount has been sweled 10 l07 3377l5
The principal subjects Of taxation, it will be reco-
leced, consist Of lands aud their Improvements town
lots corporation stock, and personal property Of these
the lands the present year. embracing 7475 $40 acres
have been valued at SOS 9s4 $40
SO much for the single item of lands, which
the Governor says does not include the whole
the assessment being imperfect. He then
adds
From the sales Of public lands, reported by the
Commissioner of the General Land Office, ascertain
that the 922 22 Of land subject to taxation
will be augmented annually by the following additions
In 1910 by $50, 904 acres in lS4l, by 3,24g2lO
acres in 1912 by l249,sls acres in ls43, by $780,
Gal acres proving most conclusivey that in ls43 we
shall have 1928 69i acres of taxable land. In times
therefore, like the present. when gloom and despouden
CIV seem to pervadc every bosom, when the credit of
sovereign States even can no longer command money
from abroad. aud when bankruptcy and ruin with their
attending trains Of evil apparently harg suspended over
the great Of the people, citizen Of Indiana
presume devoted to her interest, who feels himself
identified with her prosperity and glory avoid re-
cevng the foregoing facts evidence sufficient JUS
uiy him IN confidently Anticipating safe delverance
from present and future entertainments. Administrations
may change, parties may alternately triumph, and de-
suctive experiments be repeated but the soil and its
fertility will remain unaffected by either II constitutes
element OF wealth which man, in his folly can
not destroy, aud which, when all others swept away
from him. continues the performance oil It's functions
10 cheer and support him through every emergency IL