Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1843-03-25

iheIr due from the General Government, they F
hay only rch 10 the polls a nj vote Tor thaf +
thing called Locofocolsm! If the People OF In T
diana are lsposed to scoff at proposition whose
effect will be 10 discharge SIX MILLIONS Two hun
DRIED THaUsAND DOLLARS THE STATE DEBT.
WITHOUT TAXING THEIR POCKETS for
DOLLAR lie, them fall into the embraces OF
such a man as James Whi,comb! 1t Is our duty
20 place facts before the People: it is their priv
Iege to act upon them and upon their own inter
ests, as may seem 10 them fl. All we ask Is
that the position Of The Lncofoco Parry shall
be understood.
| The State of Indiana il indebted in the sum OF
eleven millions, SIX hundred and thirty one thou
sand, three hundred and fortyiwo dollars and SIX
| ty-four cents, upon which there accrues yearly
interes, Of five hundred and eighty -one thousand,
five hundred a nd sixiv-seven dollars and fen cents
Shall this debt be paid? this is the first question
/ TO be settled. Is there man so base as TO an
swer no? Ii 10 debt which has been contracts
| ed 10 good f,ih and for the payment of which
our honor is pledged. Ii IS debt whose lIGnIda-
ton involves he all Of widows, orphan children
and dependent families whose means have been
invested in our stocks for safety! Indiana is not
the soil upon which sub-ists the race q ROBBERS
who will assume the soul-damn,ng position that
This Common alh she'll repudlate enc dollar OF
! this liability! 1t must be paid then. 1Vhcn! and
by ,rhat means? are the next inquiries. AT this
moment are unable 10 meet even the inter
est. Shall matters remdln in this condiion?-
Shall be suffered TO accumulate interest,
until the Inad becomes appalling? What prudent
man would thus act with his own affairs2 Then
the interest that debt if il be possible should,
AT any rate, be promptly paid. Hon. shall it be
paid? There IS no SURF lus treasure on hand. with
which pay it, There resources for the
purpose-rhe absorption Of the Locofoco Scrip
notes absorhs all the present energies Of the
Treasury. Bat one alternative remains then If
narrow the view Of this question TO the pres
en' condition Of thing and that is DIRECT
\ Ara he Penpie tfrtu
to day? If not, will they be better prepared merit
year, when simple shall have become compound
interest? the year after. when yet an addition
accumulation will exist? BY means, by no
meansn
The General Government is indebted to the
State of Indiana for her share OF the proceeds of
tho sales Of the pubic iands. These lands be-
long 10 the States and, Of their sales, each s
rned to ratahe proportion of the proceeds
Assuming the loves, possible calculation, TO
pecuniary embarrassment and the character of
the sales, under the policy OF the Distribution
Bill advocn ted by The Wings, the yearly share
of Indiana will he the sum of one hundred and
thirty thousand doars--Ihis the result IN
1899 while IN 1915 6, this income sweIied TO
an annual average of five hundred thousand dol
lars! Is this a matter to be ttrown dtcdy By the
People,?
& ST take q broader view of this question. IN
der the operation of the proposed scheme OF nir.
Johnson Of Maryland, Indiana roud receire the
sum of MILF ms. TWO HUNDRED THOUSAND
DOLLARS In Gov rnment stock, as her proportion
of the PnbIlc Domain. Deduct this from the
levcn millions, six hundt ed and thirty thou
sand, three hundred and forty dollars of our
whole debt, and there vii! remain TO be PAID bat
five millions four huodrcd md thirty thou and
three hundred and fnriv.two dollars; upon which
there will he, instead Of The present annual IN
terest of $5Sl ,567 10, bu, interest Of two
hundred and seventy-oue THOUSAND, five hundred
and sixty five dollars to be raised from The Peo
I,fn 8 tor htCh 4 hn
figures are at hand and of which demon stra ton
is capable of being made. Allow, now, but
! momsnt OF reasonable conjecture; conf ecture bas
ed upon data that Cannot widely deceive, TO say
| the least, and observe what rapid progress may
he made in the payment Of the " hole Debt of H.
diana!
The present contracts on the Waba sh and Erie
Canal will be completed during the present year,
making complete navigation which must, we
feel tIle hesitation IN saying, yield Immediately
f At least one hundred thousand dollars: which I'll
reduce our liability II one hundred and seventy
one thous md. five hundred and sixty five dollars.
Tho viii nnruatty be increased from :olls
&c; BY the influx IF population into the Wabash
4 Valley, and the continued extension Of the canal.
| When ut rerre Ilaufe tho main line will be
united (y n G m! any It not bv the S,aIe.) with
the Eel River feeder, addiog 80 miles
tension; that the calculation is extremely pau-
Sihle which anticipates receipt of one hundred
and fifth thousand dollars annually from that
work after 1t shall hive reached Terre Haute.-
When Ia This add the fact that meanw hiIe he
White Water Canal and the Madison Rail Road
Will I've approaching completion, and tire State
: ock N those companies will be becoming vau
,he. the wears are not far distant when hand
some balance will be realized in our f,vori
By this process entire State debt at any
rn,e. must he REDUCED from ELEVEN MILLIONS sir
hundred thousand dollars. to FIVE MILLIONS,
= UR HUNDRED thousand: and the INTEREST, from
FIVE HUNDRED, 10 Two HUNDRED thousand
dollars WITHOUT TAXING THE PEOPLE
dollar! while the most plausible prospects are
presented that the State, IN a few years. from
her ,rorks and without resort 10 The peo-
pie. will, by this aid, be enabled to the scales
IN her own favor!
Bat wha, IS the Locofoco cry 10 all This, 1t
Is. DISTRIBUTION THE PUBLIC LASDs!. In
Other words u is:-THROW AWAY the SIX