Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1842-01-01
IN DIANA l. GlSL L X Il.
From the indianapolis Journal.
Senate.

King the cooperation Of the States OF ONO,
Kentucky, aud Illinois; and that the speaker had
signed an act 10 authorize Il SPECIAL session oil the
Marion circuit court; and a JOINT resolution
on the subject Of the location Of an aImory IN
the West; aud asking the signature OF the presI-
dent Of The Senate To the same.
The pending question when the Senate ad
Journcd, was then taken up, the amendment be
ing offered by the Senator from Dearborn, ex
coping he school and seminary finds. &c, from
the anendmeni, making the proposed issue OF irea
sury noio5 receivable IN payment Oi taxes and
all other public dues. The question being taken
on Mr.. Waits amendment. 1t was DECIDED IN the
negative-ayes 20, noes n.
Mr.. Nave moved To amend, bv making the
treasury notes redeemab!e, or be Ie-I-sucd, by
the banks issuing the same, IN gold and silver.
MIR. Nave supported his Amendment TIA some
remarks. lie SAID ii Vas a perfect huE'hug to
admit Of their being re issued, without their re-
dernptfon, especially as II involved the safety OF
the school and college funds-funds upon the pre-
servation Of which depended the education #
tho present and future generations Of tho youth
of the state. His resolution was predlcated up
on good Van Buren, doctrine, and he hoped 1t
would receive their p~ractIca! supper: on the
present occasion.
Mr.. Cornc,t conceded with the senator from
Hendricks, and sustained the proPIIety of his "A.
mcndment; tho yeas and nays being taken the
amendment 10 the amendment was lOst-ayes1 I,
noes .}S.
- MT. odrfHan move co the fOll0Wito atDCnCfneHt:
That said notes, no matter by what branch Is
sued, shall be receivable at he different branches
IN payment of and renewal of any note upon
which treasury notes were lonned, and that after
the first day OF January, A. ID. 1913, shalt be re
ceIvabie at the different branches of the state
bank, for ell dues Of SAID branch: ProriGed, no
thing herein contained shall deprive any branch
Of the powerb by specIeI contract of making any
note or bill OF exchange, payable in other funds
than such treasury notes.
This amendment was supported by the mover
but was opposed by Mr.. Chamberlain, as only
tending to m s'ify-to murder the bill. lie wish
ed the question taken without loading down the
proposition with amendments.
Mr.. Parker was III favor Of most of the amend
mcnt, proposed by the senator from Knox. He
thought 1t the notes were lnaGe bankable-In all
cases, and without any limit, the effect would
be TO compel the bank 10 pay specie for treasury
notes os lis own. He therefore offered an amend
ment, which was accepted by Mr.. Conan, pro-
viding, "Aud when re issued they shall be redeem
able by the branch re-issuing the same. upon pre-.
senia,ion, with gold or silver"
Mr.. Chamberlain opposed The Amendment and
said he should vote against all such propositions,
rs tending to defea, the object of the l1int reso-
luton.
The question being taken on adopting the IA
mondmcnt to the amendment, 1t was decided IN
the aflirmative-ayes %, noes p.
The President voting tor it.
MIR. Aker offered the following amendment to
the first resolution, VIZ: TO amend the first sec
ton by inserting IN the proviso; ''or by any 9th
er person or persons who may have purchased up
any such note or notes, for the FurPose and with
tho intent to sell the specie received therefor 10
any other bank, broker or money DEALER
Mr.. Akcr said his objec, in offering the amend
ment was that, as the resolution now stood, n
citizen of lndiaua, might 90 to CtncInnat, or
Louisville and give his note to u broker; say for
81 900, and thereby give the broker power 10 do
Indirectly what he could not do direCtlv--draw
on the bank. 1t was easy 20 see thai such opera
tons might be carried on very much To The ad
vantage of the foreign broker or money lender -
lie wished, by The amendment offered, to guard
the bank against such conduct. Adopted, ayes
n. noes 24.
Mr.. Harris offered the following amendment.
viz: strike out the words at the end Of the third
section, providing, that no scir0 faetns shall be or
dercd, unless the several branches of the state
bank of Indiana, or any Of them, shall fail In re
fuse or redeem with geld or silver. the five dol
lar notes by them respectively issued. and put
in circulation by the first day of April next
Mr.. Harris said the effect Of the amendment
would be, to compel the bank to resume specie
payment on all her notes, as we'll upon those OF
the denomination OF s., as now provided. III the
original resolution. Mr.. Collins thought the Il
mendment vas entirely useless. as the bank
would be compelled 10 resume. under the general
provisions. He, however. had no objection to
ITS adoption, in case the phraseology of the old
bill was thought to be imperfect or ambiguous.
Mr.. Chamberlain opposed the amendment as
supertluous, and went on To prove his position by
reference 10 the language of the JOINT resolution.
Tho amendment OF Mr.. Harris was adopted by
consent.
Mr.. Chamberlain offere an amendment to the
third section. making ii the duty of the governor
10 issue a scirc iacIas against the bank for a fail
ure To resume on the firsttays Of April and June
as well as on tho first dav OF August. HIS OBJ
leci was to compel her not only To resume IN \
p-Il and June. but 10 MAINTAIN and continue the
payment of specie without any Interruption
MIR. Collins said the proposition Of The senator
from Ekhart was entirely superiuous, because.
MS he understood the resolution, the bank could
not suspend specie payment. even Tor a single
DAY. (as supposed bv the gentIeman.) without