Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1843-01-03

road.
For the relief of the people of Huntington coun-
ty; were sevcrally read a third time and passed.
TREASURY NOTES.
The bill for the reception of treasury notes for
dues of the State for trust funds, &C. again TAX
en- under cons ideration
! Mr. Hargrove then moved to reconsider the vote
on the motion Of Mr.. Bradley, recommitting the bill
to the committee OF ways and means, with lnstruc
tons that the people of each county shall decide, at
a previous annual election, whether they will re-
ceve treasury notes for county dues or not which
motion prevailed, ayes &c, noes 81.
! Mr. Henley then moved to amend the instructions
so that the county board of the several counties
shall have Discretionary power receive said notes
or not.
Mr. Henley said that many county boards would
have heretofore permitted said be received
for county dues, had they supposed they had the
Ipower to do so, but fearing that some difficulty
mi ht in consequence OF the notes bong under
par. they had refused to act upon the subject.
| Mr. Tingley was opposed To giving discretionary
power to commissioners boards dong county bus
mess he opposed To placing the power allud-
ed to, IN the hands OF three individuals instead of
the people.
Mr.. Rich agreed with the gentleman from Rush.
lie then proceeded to discuss the question in rela
ton to the distribution of the proceeds OF the public
lands, the value Of treasury notes.-the formation Of
our government consisting of executive, leglsla
tive and judicial power-the delegation of said pow
or. &c.
The question was then taken on Mr.. Henley's
amendment to the Instructions offered by MIR. Brad
ley, and decided IN the negative, ayes 80. noes Do
| Mr.. Simonson then moved to amend the instruc-
tons by striking out the provision that requires the
payment of any of the trast funds into the State
treasury, and provide that the surplus revenue
agents, college fund agents and school commiss on
be authorised to loan ont the principal and IN
terest OF SAID funds paid in, as heretofore where
upon
| Mr. Clements moved the previous question which
was ordered by vote OF ayes 81, noes 81.
| The main question. to wit Shall the bill pass
was taken and decided in the affirmative, ayes 81,
noes 23.
The operation of the previous question cut off
the amendment relative the reception of the notes
by the several counties, and the bill passed
makes them receivable for all county dues.
! Mr.. German moved to reconsider the vote on the
passage of the bill which he subsequently with
drew, giving notice that he would it on to-
morrow.
Mr.. Brown of VI. renewed the motion to recon-
slider now, not with the intention of changing his
by voting against the bill, but for the purpose
of acltating the final action of the House upon the
question of its passage.
Mr.. Henley rose and in a speech of consider
able length, which will be given more fully here
after addressed the House in favor of the reconsId
Grafton. With regard to the 81 300 900 OF these
treasury that had been originally issued, he
said, the people who had derived no benefit from our
system of internal improvements, had to come up
to the rescue of the suffering contractors
public works. They were willing to do Justice, and
through their representatives authorised the issue.
Yes, Mr.. Speaker. said he, the same gentlemen
who had before stated, that they would trust
their improvement system to the tender mercIes OF
the catamuun, than to the hands of the casslhers,
had to apply to these same catamoun.s Tor help,
when the crisis in which relief must be OBJ
tanned. The treasury notes were issued, and TO en-
/ able a
put them out in denominations OF . hves' and
=. fftles." The enquiry then made, how are
these notes To be redeemed The answer was, by
taxing the people. The contractors were paid of,
but the notes deprecated in value. We done the
best we could. We knew that such would be the
result But now, brokers in this State and money
brokers at Cincinnati, had large amounts of this
paper, and il the broker influence, will prove,
that is going pass this bill II not TO this House,
| will to the people of the State. | belong, said
Mr. Henley to the people-it is from the laborng
and farming class of community that ! come-and
Will tell this House what the laborng class want.
and what is their interest. In my county, well
5 in all others within my knowledge, there has
been great excitement in reference to making
these valuable, and there rs but one
OPP mon on this subject in the country. But brokers
and others have, before this, approached the people
under the guse of friendship and wrested from them
their dearest rights-ther highest interests They
have done so now. !. Mr. Speaker, know, and
!
ordered to be engrossed, men started from here, IN
almost every direction, with a view of purchasing
up this paper, at large discount, and he would
ask, where did they get the money from TO make
these purchases Indirectly, sir, from the vaults
of the Bank gentleman told me he saw person
selling Bank scrip at 20 cents the dollar for good
funds, for this purpose. They have gone the
wings Of the wind and in little while three tonrths
of our treasury notes will be in the hands Uf a few
individuals. Then. when we put up the value Of
this paper they will let 1t out at par, AMI 1t will
again fall into the hands of the people-a reaction
will take place, the currency viii again dcprc
ciatc. and rapidly too, and the burden will again be
thrown upon the laboring classes. The broker
Will again the market and buy 1t up at ruin
Gus discount. Happening yesterday evening
with a gentleman who holds treasury notes to n
large amount, spoke of the bill being amended
as only to make treasury notes receivable for IN
tere>t. lie appeared great trepIda,lon, spoke
very quickly and SAID, 81 think hiS rW not be quite
aJsorban enough"
There is always a danger of extremes, and ad
vantage is now taken of the general feeling. in favor
of max ing these notes more valuable, and there
fear of doing too much. The people want these
funds to be made receivable IN payment OF the in
erest on our trust funds they want these notes
be made more valuable. lie desired to do enough :;
more than this he UNIV Hing to do. He was IN
favor of letting he treasury notes remain in crcu
aton. as long as a dollar was out. He had only
said THIS much to place the public on their guard,
and obliged to the House for the respectful
attention that had been gwen him.
Mr Brown of VI favor OF having speedy
action on this question Enough time had already
been consumed on the SUBJECT. IL was glad the
gentleman from Monroe Mr. Gormln,) had been
allowed the privilege Of setting himself right before
his constituents, and the honorable Speaker (Mr.
Henley had enjoyed the opportunity Of making a
speech for Bnncombe H. did not blame gentle