Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1845-02-20
Indiana RondhoIders.

We find the following in the Journal of Commerce
Of the 9th inst. We copy IT as additional evidence
to that which we have already presented, to show
certain Wing editors that they have been mistaken in
the grounds they have assumed in relation to the sub
ject. We indisposed to continue remarks at
present. further than to express regret that the State
creditors seefa so much opposed to any measure Of
compromise; for without some compromise, we con-
fess we at present anticipate ways or means
for speedy resumption of the payment of the State
obligations
INDIASA.-1t has been extensively published that
the holders Of Indiana bonds in this country and Eu-
rope, Ito the amount of six eight millions of dol
lars) had, through an agent, made formal offer to
the Governor and Legislature of Indiana at Its
session. 20 take new stock bearing only three per
cent interest, in payment and satisfaction of the
bonds How held by them, and which draw FIVE per
cent? and 1t is stated that the agent proposed to fund
the four years back interest due the bonds and the
interest coming due up to 1889, at which time in
terest on the new stock was to commence.
These statements are liable 10 do great injury to
the bona fde holders of Indiana bonds and also to
the credit and character of the State of Indiana.
We have the best reason for saying that nc such
proposition has been made the Sale Of Indiana by
authority Of the original and bona de bondhodcrs IN
Europe and that they have had agent for any such
purpose at Indianapolis during the session of the e-
=
that any such authority has been given by the holders
of any considerable amount of the bonds this
try. The bondholders in Europe have at different
times memOrialized the Governor and Legislature to
do something for their relief the earliest practical
Die moment; but this is very different thing from
offering to reduce the rate of interest to three per
cent
1t should be borne in mind that tie bonds of Indi-
are held chiefly in Europe, where they were sold
al an early day. and, though drawing only five per
cent. interest, commanded high price in the market
Next to Ohio, Indiana regarded the best Of the
Western States, looking to the products, position,
character and population of the State and many who
purchased them at the high prices which they readily
commanded before the State made default in the paw
men OF Interest, have continued to hold them to the
presenttincs IN the confident expectation Of ultimate
ability ON the part Of the State to pay the whole. 1t
Is not at all probable that such persons have any
thought OF making such proposition of compromise
and su6jectng themselves loss which they are i'll
able 10 bear, and which, in their opinion the char
acter and position of the State do not call for
On the same subject, we find the annexed in the
N. Y. Morning News of the eth. The Tribune"
need not remind our readers, has for long time
assumed tone Of the most vrulen abuse towards this
State, for which, have doubt it has been ,reR
paid. The News observes:
Our contemporary, (thc Tribune,) after making re-
peated fIse statements in relation the proposition
fraudulenty made to Indiana in compromise of its
debt, has on the authority of one Of the large
bond holders receded from its position, and acknow-
lodged rs Misrepresentation of the whole affair With
characteristic pertinacty, however, it adhefes to its
remaining errors, and VIII yield them only one by
one as becomes laborlously instructed in the mat
ter. 1t Is an old saying and good one, "when you
know nothing say nothing"