New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-01-06
state Debt-Gov. Whitcomb-The Approach
ing Convention.

state Debt-Gov. Whitcomb-The Approach
ing Convention.
Correspondence of The Tribune
INDIANAPOLIS, Dec %. l545.
GENTLEMEN: The following proposition for the
adjustment OF our State Debt has been submitted TO
a Joint Committee composed OF members OF each
branch of the Legislature by Mr.. CHARLES But
LER of vour CITY. now here as Agent OF our foreign
bond holders
l. Five per cent interest be psid-one half out OF
venues 10 be derived from taxation and the oher nail out
of revenues OF the Canal. as foiews-vz
From derived from taxation the state 70 pay
two per upon the principal oil the bonos rom f='
of January l5i7 the fret day OF January 1888 When
one half OF the arrearages OF interest from nrst January
sil to mrs, January lsi7 aud half per cent from nrst
January 1871 first January 1888 shall be added &c the
principal and from that time forth the State TO pay on
the principal and interest thus added TWO and bali per
cent
ciDal of tie Bonds computing from first January, Ie1
shall be chargeabe against anc paid out Oh tae reVe
nues OF the Canal and shall not otherwise be charge
able against the State.
This proposition proceeds upon the ground that the
Canal shall be speedily completed in lis iuh extent 70
the Ohio River.
As such reliance proposed TO be placed on the Wa
bash and Erie Canal by the BondhoiderS Tor inc pay
rnent of onehaf Of the back and accruins interest IL
proper say that its completion is deemed essena
the plan of liquidation contemplated and although mel
Their the Bond holders others would desire 10 MAKE
farther the State yet TO aid her 10 eectng
restoration Of credit and in completing the Canai
through to the Ohio river in the shortest practeaoe
tne so the results aforesaid 1t might De pro
vded in the law providing for the payment Oh interest
aforesaid that the subscribers to iarther ADVANCE UT
loan 10 the State moi exceeding one.ihrd Of the entire
amount required for such purpose (usins the ahos io
the deficiency should be entitled 10 receive OUT OF me
OF the Canal and the Cana Lanas, aer @
repayng said advance principal and interest, the tul
amount OF interest Bonds held by them, IN prefer
ence any others and also that the principal oil inter
nal Improvement Bonds held by them should be nfst
peid-or which loan six per cent stock shall be issued
payable in short dates and tor the security OF "hcn
loan and also for the security OF the two ana nan per
cent interest aforesaid there shall be apecinc pledge
Of the Canal from the State line 10 the ONO riVer WIN
all its lands and revenues Subject always 10 prior
pledges. and pledge whatever OF the iath OF tue
State-which pledge of the Canal and its lands and rev
enues shall be vested TO the satisfaction oil the Bona
holders 20 insure the appucaton oi tue P!ocee1
TO the purposes specified.
feel assured that this proposition would now be ac-
cepcd BY the Bondholders but circumstances may &C.
cur TO change this disposition their part the ques-
ton be deferred. All which is respectfully submitted
From present indications would not be surprised
a, the passage Of bill accepting it II ii falls
difference in the details of the bill will be the cause
Governor Whcomb, since his defeat for the L.
s. Senate, finds it necessary to make new move 10
secure his nomination for reelection. The Loco
declared that they would not support him or any
man who did not come out in favor OF the above
proposition, and hence it was that on today he
abandoned his usual non commttal course and sent
into the Senate communication recommending its
acceptance. In doing so, however, he gave offence
to the repudating wing of the Democracy and it is
yet to be determined whether il was good move
for him or not The Loco Focos hold their State
Convention for the nomination Of Governor and Lieut.
Governor on the sth Of January, and the Wings on
the day succeeding. Yours, &c. OBSERVER.
They ARE PASSING AwAY.-Deacon OLIVER
WOODRUFF OF Lvona, N. Y. a Soldier Of the Revolu.
ton died at his residence on the oath ut the advanc
ed age of 90 years months. He native of Ltch
field, CT and emigrated Western New-York in 1903
when that now prosperous and densely populated por
ton of the State comparatively wilderness. The
following is an extract from narrative iound among MS
papers,
AFTER the battle on Long Island we marched 10 Bergen
opposite New.York City. We stayed there until the
British got possession OF New-York then we marched
up the Hudson River IA miles and built Fort Lee.
Sometime in the month OF November. a part OF the
regiment ordered over to Fort Washington, oppo
site Fort Lee On the 18th day of November the British
sent flag, demanding the fort. The answer was, III
,c;U moi Be eiren M" We knew should come to ac
ton and the next day we were on our alarm posts
Before SUNRISE the British appeared in three different
places The battle began with cannon shot and some
times with small arms and continued until o'clock IN
the afternoon when the British sent in flag the firing
ceased aud the fort was given up.
We marched that evening to Harlem meeting house
in which and other houses 2I00 of us laid down our
arms We stayed there till the next Wednesday morns
ing when we were marched 70 NewYork, and went in
to different prisons-sl6 went into New'Brdeweii
among the rest into the Sugar House, others into
the Old Dutch Church On Thursday morning they
brought little provision, which was the nrst morsel
we got 10 eat drink after eating our breakfast on Sat
urday morning the 10th Nov. We never drew MS much
provision for three days allowance mau would eat
at common meal. was there for three months dur
ing that Indictment and never saw any ire except
what in the lamps in the city there was not pane
of glass the window and nothing to Keep cut the cold
except the iron CRATES.
At length au exchange OF prisoners took place. and
went aboard the ship Glasgow, bound to Old Milford
Connecticut. We sailed few miles. struck rock near
Hurl Gate the rising tide oated of the ship then cast
anchor and remained there eleven days. There were
2S thrown overheard that died during this time
We then sailed 10 Old Milford-quite number OF US
had our feet irozen-we had the smallpox board and
were forbidden any house, except the one pro-
vided for Soon after landed, they brought US
three corn baskets full of boiled beef bread and pota
toes and every that able to help himself got
much as he could there l9 died that night from
overeatng. In Capt. Bebee's company. to which be-
onged there were 33 men, only TWO OF whom Desldes
myself survived.
soon got home to my fathers house by the assistance
of friends but it was several months before was
stored to health am this day go years old am en-
trey free from any kind Of pain. never had the head
ache back ache or rheumatism in my journey through
my long life
Crimes, Casualties, &c.
CONVICTION AND SgNTEScE.-Thomas, one OF
the persons indicted for the muir er OF Edwards at
Bonneville near Chlicothe tried at the recent
term of the Supreme Court for Ross County-found
guilty and sentenced be hanged the 9th OF March
next columbus (O) Journal.
A BRUTE OF A SCHooLMASTER.-The Barre