Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1842-01-22

Messrs. ID Wis of +, Montgomery, Nelson, Dun
bar. and Rtlchey, participated.
At tho request OF Mr.. Bradley, Mr.. Deirees
withdrew his amendment.
Mr.. Bradley offered the following amendment:
strike out the words "ior which the consideration
has wholly 0r in part failed, or for lands"
The amendment was adopted.
Tue plain question Of reputation then came
mp. Mr.. Marshall was opposed TO the resolution
even as amended. IL was not necessary 10 repu-
date. We cannot pay the interest on any OF our
bonds. lie took the ground that those bonds
ahich we sought II repndinte, were the only
hnnds that the state had Ii III her power TO redeem.
Various securities had been taken for those bonds,
ont Of which many INSISTED the state had been
cheated. These securities were pow worth
more than the bonds for the payment of which
hey were given. He thought IT would be better
and more honorable to appoint an agent 10 redeem
the bonds IN question wish The securities. lie
bad no doubt they would redeem them.
Mr. DeGrecs was opposed in toto to reputation.
He eel remembered how Indignantly the doc
r;nc had been received by the American people
when it was frs, pronp'g ted bv a distinguished
Senator f lie New Itfk legislature. Mr.. -
was proceeding at icng h 10 give his re0sona n
gainst rrPuliat"n. when he was cat short by the
expiration Of the hour for tho consideration OF
resolutions.
Mr.. Dsrrees introduced the following joint res
olut,oa cnncerulug state lands. Read twice and
laid on the table.
Whereas, from the proceedings Of Inc present
General Assembly the impression may be created
abroad that he people Of Indiana, through their
representative, intend repuGIatIng thai portion
Of their Indebtedness known as tho ''susPonded
dcbtn because those bonds were obtained by fraud
an dwIlhout he payment OF a consideration there
for: aud, whereas s4ch an impression womb O."
mi lstiee to the people of Indiana. Inasmuch as II
j. The deliberate opinion Of this Genera! Assem-
biz that the State is legally bound (wore she sub
j.ct TO SUM to pay all bonds which have passed
oli of The possession Of those who obtained them
from OR agents under any rretcuCe whatev-
cr. into the hands of bona file holders without
notice 81 the original tTausaCtif n, and. therefore.
shat The people are morally and honorabiy bound
to pay alt sach BONDS, and, whereas, it IS the
npiuian & th,s General Assembly. that such Of
OR bonds as H~ctremain ia he hands Of those who
obtained thcmhy fraud, or Of our agcn's IN any
vlanncr 10 violation of their authority to sell, not
subsequently ratified by legislative action, or in the
hanIs Of those having notice Of such fraud or
want &C authority, shorld not be- paid: therefore.
BE II r~rso!rcd ~ tic GenCrri A~ssczat'y Of the
state Of indiana, That Noah \ bile, he present
Fund Commissioner. and his successors III Office
he directed to ascertain what bonds obtained by
fraud or contrary to law, are yet IN lie hands of
the uricIua! holders. or those obtaining them with
notice at the fraud, or want of authruitv to sell,
II anv, and 10 give notice tlat sIch bonds, de
s~cr,htng tuo"1 by the number If p~nsssbie) VII
never be paid by the State; "nd hat he imncGi-
arcly commence proceedings tef,re the proper
Count for ,ho purpose of compelling all such hoi~
dcrs to give mp said bonds, to Jc cancelled.
Tie litl providing for a stay of eighteen
months on all eAccuuors, was lost on is third
reading, by & lnrgr M jnrIty.