The Evansville journal. (Evansville, Ind.) 1834-184?, 1845-12-25

ject is involved, and the consequent inability
of needy holders, 10 make any certain calcu-
lations, that adds 10 theirunhappine s-as in
the case between mar and man. An exam.
inafion would show, hat the bonds of Indiana.
like those of Pennsylvania and New York,
are 10 be found extensively in the hands of
trustees, guardians, retired and aged persons
widows, and others whose objects was invest
ment, and whose reliance for support is on
income. Such, with scarcely any exception,
is the class represent.
The State cannot be constrained TO make
payment, in any manner, at the will Of the
holders OF her bonds, however pressing their
necessities may be; they are left TO depend
entirely for the ful6lment of obligations, upon
her own sense of homer and justice. In the
exercise OF her sovereignty, she is the sole
Judge OF her own ability, and it might be-
deemed presumption in any one, even a cred-
itor, 10 question her integrity and disn:eres.
tedness in deciding on the question, however
il might disappoinl his expectations, and
however, variant II might be from his own
estimate.
The highest evidence which can be given, OF
the reliance OF ihase whom represent, on the
honor and faith Of the State, is TO be found in
the fact already mentioned, that they have con-
tinued 10 hold the bonds from the period of tn cir
purchase. prior TO the default OF the State, down
10 the present time, by the solemn assurance s Of
the people OF Indiana, speaking through their
Executive and Representatives, Of their inten-
tIOD 10 do justice TO them, soon as they should
have the ability; and especially by the emphat.
ic language OF the joint resolution, adopted by
the Legislature OF S44-'45, which s,-.sthat we
"regard the slightes. breach OF pigIted faith
kEnta l,Is a 1,
9Th at moral principle. upon which all oblig atoms
"depeBd: that when any Stale in this Union
"shall refuse to recognize her great seal, as tho
sufficient evidence of her obligation, she will
shave forfeited her station in tue sisterlood of
Estates, and will 10 longer be worthy of their
''confidence and respect''- and while they ought
not To doubt that such is The sentiment Of the
people oil Indiana, still, they pal nfully con-
scious that time is running against them-that
The interest ht accumulatng, and with The in.
crease of debt the di ic ultes in the way of paw
ment will also naturally Increase; aud they
are impressed with the Sc riOus conviction thar
Ihe neglect, refusal on the part of State, To-
provide tor the payment OF It's just debts, for an
unreasonable length OF time. does involve all the
practical consequences OF reputation, to the
holders OF its obligations, and 10 the pc opls
themselves, and will be so regarded by the world
at large; and the danger OF this tacit or passive
reputation, is Increased with the delay for tho
longer it is suffered to remain, the further re.
moved It is from the time when the obi CATION
was incurred, and when The sense OF Il was
fresh-and when consider the changing
character of the population OF all the States
II Is not surprising the sense of the igution
should grow weaker aud weaker with the lapse
of time; nor is It surprising n this view OF the
| the subject that The most lively apprehension
should be INDUCED, by persons situated fiks
those represent, nor that they should be inpor-
tUnate with your exceeney and the Legislature
| to save them from such probable fate; and in
| the communication which now have the honor
| to make, ii have exEessed myself TOO strongly
on any point. or. II nave seemed to fail in any
particular IN the respect which is due from me,
either ii your exeellency or the legislature, or
the people OF Indiana, | beg Tor all most
earnestly To dIsclaim any such intention. aud
thai you will attribute 1t 10 my anxiety TO reps
| resent faithfully the rights aud expectations of
those Who have sent me on this mission, aud
VIII cannot be presumed from The relation which
they sustain TO the State. entertain any other
than feelings the utmost respect Tor its public
| authorities, and sincere desire 70 It's credit
established on tine most enduring basis, and it's
Ipermanent prosperity thereby secured.
In conclusion, will add, that am fully su>
tliorized. in behalf of very large body OF the
holders of the bonds'of Indiana, 10 enter into an
arrangement with the State, in respecI to the
bonds held by them. having regard TO the prin-
cipes briefly indicated in this communication.
Ii is impossible fully communicate in this
form, the various details of such arrang8-
ment as they have empowered me TO make, and
which from their nature, must necessarily be
the subject OF personal conference; but am
prepared, and will most ch eerfulIy submit the
ia person it 1t be agreeable to the Legislalure,to
any committee whom they, in their wisdom.
may selec, for that purpose and trust in such
conference, shall be able 10 satisfy the Legis~
lature OF the dispositiu ION oil the bondhoders whom
represent to obsiate ady reasonable difficult
ties, which may seem at first view, to lie IN tbs
way OF satisfactory adjustment Of the Whole
business.
With sentiments of high respect,
am, Your Excellency's
OBJ serv'f,
CHARLES BUTLER.