The Hawk-eye and Iowa patriot. (Burlington, Iowa) 1839-1843, 1840-02-27

Joint resolution authorizing the issueSbfl
State stock for the interest falling due this
day, to be delivered to the holders ofstock1
forsthe amount due them respectively. as
an earnest Of our determination tomake
provision as soon as the necessary legisla-
ton can be made to meet the exigency,
and to redeem the credit of the Common
wealth. TRUST | may be excused in this
communication for saying TO the Repre-
sentatives Of the People in the Legislature
that, whilst they owe a duty to the wants
and wishes of their immediate constitu-
ents. there is paramount duty to the
Commonwealth at large, to maintain its
credit, meet its engagements. and to pre-
vent its character for good faith from be-
ing sullied.
No man, were he concerned alone as an
individual, would 90 further to fix an ear
ly day for the resumption of specie pay
ments by the banks than would, if, by
doing so, the desirable result would be
produced. But, placed as | am, as the
Executive of the Commonwealth. to pre-.
side over her interests, ! feel bound to say
regardless Of any denunciations which
may be poured forth from any quarter,
that | believe if. too rigorous system of
measures be adopted to coerce the pay
ment of the liabilities Of the banks, imn,e-
diately the credit Of the State must and
will be seriously and disastrously affect
ed" tt8@
Previous to the reception of the above
message a bill had passed the Legislature,
compelling the banks to resume on the
18th inst. or forfeit their charters. This
was done in order TO crush the banks. On
the reception Of the above message from
the Governor in the House,
Mr. M'EhwEE offered a resolution to
this effect: That the amount of interest
due on loans should be declared to be a
debt due by the State to the holders of the
certificates, and that the proper officers
!. shall issue certificates OF stock payable at
the rate of per cent. half yearly, redeem
able within the time the loans were taken
for originally. 4U
I! Mr. M'ELwEE said he had voted for the
resumption resolution which passed the
House two or three days ago, bur always
warmly contended that it fixed much too
early day. He maintained that the res.
olulion he had just introduced ought to
pass, because the faith Of the State was al
stake, both at home and abroad. He Stat.
ed that vessel was now waiting to take
the interest due by the State to Europe
and it would never do to allow her to sal
without the money He argued that i
was absurd to expect the banks to lent
The State moneyunder the present circum
stances. They ought to be allowed time
to call in their debts. Not to vote for this
Recommendation of the Governor woul,
/ be to rush headlong to destruction.
Mr. SNowDEN, another supporter OF lht
resumption resolution, acknowledged tina
he felt bound to recede under present Cir
cumstances, and confessed that the Gov
ernor had seen the matter in lis true light
I Mr. CRAZE "a Whigl expressed hi
amazement that gentlemen were now rea
DIV TO eat W. their own words uttered TIT
other day. They had received their or
ders from the Commander-in-Chief, ant
iIwere now compelled to take the back track
1 He was glad, however, that they had seel
4 their error. 1t was not yet too late to re
pent. 2 565 tt' eal15t
;, Mr. Speaker HopK1Ns confessed that h
would have voted against the resumption
I resolution if he had found nerve enough t.
. vote against the democracy. He though
it fixed too early day. fay
Mr. PENNimAN. of Philadelphia county
"a thorough-going Destructive, and autho
of the original resolution for the resumr
tion) said that he would not recede fror
} the ground that he had taken, no matte
what might be the consequence. Thank
ed God that the loan had not been taken
: Was glad the present state of things ha
brought gentlemen to the thinking poin
:. The SPEAKER facetiously remarke
that the gentleman (Mr PENNIMAN migt
have amended his speech and said instea
of brought us to tile thinking poin
brought us to the sticking point.
After some further discussion, the que!
ton was taken on the resolution, and
was adopted almost unanimously.
In the Senate the message and CORES
pondence were ordered to be printed, a
ter some remarks on the message, and Oh
ly one member of the Administration pa
Ity who expressed any opinion did not a
together approve the sentiments Of tt
, Executive in being favorably disposed K
wards the banks-that is, in not erusai,,
them on the 18th instant, as was propo
ed to be done by the House. <1s. :.
Il As many Of our readers are interes ste
i in the welfare Of Illinois, we give belo
an extract from the correspondence Of Il
5 lllinoian. The communication is date
: Sd instant, from Springfield, and W;
7 written by; our old friend j. ]. Hasdi
j Esq 1t appears from this commune
y ton that they have a queer way Of DOR
r things in the Illinois Legislature, or rat
: or IF LEAVING thinus undone. and we thir