Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1842-12-06

were Inexhaustble, and that nothing adverse could
impede the march of our prosperity. The facility
Of ob.anng credit had nothing to DO with the ex-
tent OF the reckless operations which have resullca
so disastFously 1t cannot be pretended that any
false pretences resorted by u.s. 10 entrap the
unwary aud incautiols. All parties, relying on
their sagacy, had equal opportunities Of esti-
mating the prOblble Consequences OF the profit and
loss Of every operation. rs 10 the past. neither
party may complain ct the other. 1t ls the future
which must determine whether we are faith keep
ing people y for myself, have deep and a b D.
ing confidence IN the integrity and enterprise OF the
people of lGdilna, in the extent 10 which her re-
sources may BE- developed aud in the realization of
those means which can and vii be applied to dis
charge those Obligations. the avoidance of which
- III bring upon Us merited and lasting lniamy.
IL Is not 10 be denied, that men have sometimes
been found in our country, who if they do not ad-
vocate repud alton, al least give countenance 10
views which must result in population. Whether
contend that one Legislature cannot make a
contract binding another or take the ground that
subsequent Legislatures have the unqualified power
OF annulling not only the acts, but the al horned
contracts Of preceding Leg slature-in either
event. VIC are Advocating doctrine upon which re-
pudaton must base Us strongest claims to be
esteemed correct principle Of our institutions. \
few remarks in reference 10 this question, trust,
will not be deemed amiss NJ this time.
The Constitution Of the l.. > has prohibited the
several States from passing laws mpairing the o1ll-
CATION Of contracts. As 10 the appl liability Of this
provision in respect 10 contracts between ndividu-
ais there is 10 diversity ofopnon. But the question
As TO whether II applies when "a State is party
has occasionally been mooted. Ii has sometimes
been contended that State, in its sovereign capa-
city, is not bound by the rules and obligations gov
erning private contracts; or, rather that any law
making grant authorizing contract, is mere
act OF legislative power, repealable at the viii of
any future legislature. But certainly if the con.
-
made by law of the Legislature or in any other
mode. The obligation to fulfil It's requirements is
mutually binding on the State and on the indiv dual
and is protected by the Constitution Of the United
States from any interference, on the part Of the
Legislature, lmpairng us binding force. There is
nothing IN the sovereignty belonging to govern
ment from which the principle DC derived TO
defeat any rights which may have vested under
contract made IN pursuance Of law Of that govern
ment. \ government which might disregard its
authorized obligations would exist in violation Of
every principle Of Justice and morality and contra
venc all those notions % right and wrong which, as
We have been taught, constitute the very founla-
ton Of our free institutions, and from which arise
those wise and wholesome restraints, by which all
our rights equally secured. Where the govern
ment is purely despite, 1t is true that the viii Of
the sovereign is not controlled by any rule OF action
but such may be dictated by the selfshness or
caprice Of ms own unconstraiued WILL The purposes
Of his government are constantly luctuating There
is security Of person. of property or of rights as
between individual and individual or between indi-
vlduals and the government. In despotlsm, the
law Is the VIII OF the severe On, and the perfection
Of this form of government consists in the power of
the sovereign to alter change. modify and subyert
every rule Of action at his pleasure. To establish
the principle That The legislature cannot enter into
a contract which vii. be obligatory, and which can
be Impaired by subsequent legislation, Is asserting
the self same principle which Iuheres IN every form
OF government purely GcspotC. Our constitutional
forms OF government having their origin the soye-
reign viii OF the people, were established for the
very purpose OF avoiding these evils. The iI.muta-
bic laws Of Justice impose equal obi cations ON
states aud individuals, and any infracton of these
prime pies is alike su5yersivc uf sound morality and
good government
But while we deprecate actual reputation, let us
beware of that silent reputation, which, avoiding
the direct act, produces the same result. Our en-
barrassments at home, growing out Of our treasury
notes, must necessarily prevent US, until they are re-
deemed, from doing what duty requires at our hands
But we should never lose sight OF our liabilities nor
seek TO avoid, either directly or Indirectly the de-
mands of Justice.
No Official account has been received of the pro
gress which has been made in the prosecution of
the ab1sh and Erie Canal, west of Lafayette. 1t
is understood, however, that an important part of
the work has been put under contract. Some ap-
prehcnsOn was felt, lest the Scrip issued pursuant
to the law authorizing the continuation of the canal
would not answer the desired end but is believed
that the public spirit Of the citizens of that portion
Of the Wabash valley interested in the work has
prevented any serious difficulty or embarrassment.
1t viii be remembered that, at the last session of
the Legislature, two acts were passed one incorpo.
rating the White Water Valley Canal Compaisy
and the other providing for letting the public works
to companies. Under the former act, a company
has been organized, and taken possession of the
LIE 81,
company has been organized for the continuation OF
the Madison and indianapolis Railroad. These
companies do not report 10 the Executive. and no
certain lniormatlon Is IN my possession as TO their
operations; but it is understood that the works are
prosecuted with energy and spirit, and strong hopes
are entertained Of 4 successful termination.
There is a subject which the Constitution has most
wisely and appropriately condcd to Legislative con
troll and supervision, aud to which | cannot too
earnestly invite your attention. | al uie to the
establishment and support Of system Of common
schools. Perhaps no theme IN all the vide range
Of discussion has been more claborately discussed
than this, and perhaps there is no question of policy
about the leading features of which there exists
such general unanimity and yet, strange to say,
10 good work has been more sadly neglected. The
proper educltion Of youth Appeals to every en-
ergy which patriotism, philanthropy, morals and re-
llgon, can put forth in It's behalf As the founda-
ton on which all OF our present and future political
security rests as question OF individual happiness;
as the shield OF our national purity and morality il
is beyond and above all others in magnitude and
importance Properly and thoroughly dispensed.
there can be no doubt th1t the administration of our
republican form OF government would abound in ali
the advantages, with but few Of the evils of snrb
system, while It's existence would be perpetual
The occasional outbreak Of lawless faction. tho
ephemcral rise and dangerous influence of the de-
Hiagogue; the instability of leading measures of
sound policy the barter and traffic OF selfish legs.
Iatlon-each OF these evils which, it must be con.