Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1845-1851, 1846-01-17

yesterday. He exhibited several tables containing cacu
lstions, by OF the best mahema of The State
showing that IN Do years under this proposition taking
the estimated valuation of the property of 1854
which had been estimated at STA 900 and lSi OOC
polls the whole debt both interest and principal would be
fully paid in So years without taking any
in polls and taxable and fixing the rate OF taxation
at 25 cents the hundred dollars and cents pol
According to this calculation should the State de-
dermne pay the debt in 55 years. after the wear 1854
there might be gradual diminuon taxation in ratio
proporonae to the of the wealth and
of the State.
Mr. Secrest exhibited another table as follows:
BY appropnatng 100000 annually to the liquidation
of the principal debt after paying the interest il would
take 100 pay off S3OOOOOO and 65 years to pay
off So .5OO,OO9.
The gross interest paid by the State at the end Of
1870 years, the debt Of s3OOOOOO would be at "a per
cent s2I2s7 SEQ
The gross interest paid BY the State at the
end of 65 years on $500 600 at 5 per
cent would be 1925 600
Being saving 10 the State in the way OF
interest Of 10 $50 son
In favor of the amendment adopted yesterday
! II the State taxes should be kept permanently al the
standard of mills and IS polls the taxes were
to increase the $4,000 600 would be paid off in less
than hall the time of the $4,000 OOO and further saw
ing to the State would he effected.
Mr Carr SAID, he stated on yesterday, that he had in
troduced the last proposition of Mr. Butler the Joint
select committee, and If any blame, for this
amendment, the censure should fall upon him.
Mr.. MDonald explained. lie believed the gentleman
was deceived m the effect of the propositions and he
censured the Agent OF The bondholders in throwing in
this proposition to divide the friends of the
amendment throwing the bill before the people for ra-
cation.
! Mr.. Carr continued, and said he would always be
glad TO be deceived in this manner BY the last PROPOSE
ton every gentleman could perceive that the
phted faith of the was at once relieved from one
half the debt The interest on half the debt is little
over S2 OO0 per annum. lie then proceeded to show
what would be gained IN interest alone in The period
oi twenty years The amount of interest on one half
the debt 1897 1000 per annum, which in 20 years would
amount 10 $6,543 100 He had offered the amendment
IN the committee, aud had it then been adopted he
would from the first, supported the bill But that
proposition would not then be acceded TO. This shows
conclusively whether, there is not a difference av
wide difference between the two propositions He be-
lie,ed now was The time to sell the canal-it an
spcious period-a golden moment that might
The State would be relieved from half he r
Indebtedness, and he now prepared TO 90 for the
bill He thought the best interest of the State would be
promoted by 1t. There a CLEAN of hope, that
our entire Indebtedness would later be wiped
out. II but little him. personally whether
he again entered these Halls But it was consid
Grafton, which impeed him any sacrifice to take an
State and be the means, IN the end, Of aiding in quida
ting the entire Indebtedness of Indiana In bis mind
there great difference in the bill it now stood
and when II was introduced into this House
Mr.. Pennington now moved the previous question
which being sustained, was put, towit Shall the bill
pass and was decided in the affirmative ayes 6l noes
AYFs.-Nlessrs. Baker, Bowman, Brum6eId, Carr
Carnan, Chambers, Clements, Conduit, Cookery Cor.
neus, Crulkshank, Dole, Bowling, Edwards Ellis En-
dicott, Fuller, Hall of G. , Hall of W. Harvey Hazel
rigg Heron, Hill Huff Jones' Julian Kerr Lemons
Logan, Lowe M'Rae, Meeker, Monroe Moore, Nofsin-
GER Osborn OF Laporte Osborn of Sullivan Parker Pen
ningon, Porter, Robinson, Rousseau Ruby Seawright
Secrest, Slater, Seeh Stanied, Stapp, Stewart Ted
ford Thompson, Tomlnson, Vandeveer Wait Webber
Wiley, Wilson of Marion Wilson Of Sullivan Wise and
Yocum-6i.
NoEs.-Arnold Cameron. Carter. Cvmer. Coffin
Coon, Cox, Davis, Ferguson, Ford, Henry, Henton
iincfman, Jackson, kInberlIn, Leyman, Lcgg, Lewis
NJ Cormck, MDonald, Mlcke, Mooney, Nelson. Pow
ers, Riley, Rppey, Shanks, Smith, Taber, Turner,
Webb, Wilson of Noble and MIR Speaker-33.
MIR. Hazelrigg now moved that the vote on the passage
OF the bill b. reconsidered which did pre-
vail, ayes %, 65
MIR. Pennington directed to bear a message con-
tanning the bill, 10 The Senate.
The House now again proceeded to the consideration
of the orders of the day. and bills were read second
time, and ordered 10 be engrossed &c.
The bill of the Senate, relation the right TO vend
liquors IN Marion county was read second time and
On motion of Mr. Webber, referred To the committee
the affairs of the town of Indianapolis.
Mr.. bowling introduced bill to establish Land Of
flee for the sale of lands granted by Congress for The
prosecution aud completion of The Wabash and Erie ca
nal from Terre Iiauie Evansville providing that
the Governor shall 90 DAYS after the passage of the
act open Land office for the sale of SAID lands and
shall appoint Receiver salary OF $500 per annum
10 give bond IN the of $4,000 for the faithful per
formance Of his dues-the lands to be divided three
The first be sold > % per acre the
cond s. 90 and the third at 81 p per acre. Actual
settlers To nave the preference other purchasers
year for either 20 or 40 acres.
The bill read second time when
Mr.. Moore moved that Point Commerce should be the
point where the Land office should be located
MIR Thompson moved that the bill be laid on the ia
bic Tor consideration; which motion prevailed.
The bill Of the Senate leasing the Indiana State Prison
for ten years at 1000 per annum-providng for the
erection of Interchangeable convicts be engaged with
the walls of the prison the rolling of ron &c-the
convicts not to labor than hours. The lessee
not to nlc corporal punishment; but refer 10 Warden
lessee TO procure library of Sunday School books &c
the Warden To receive salary of 5000 The Warden
make annual reports to Legislature. The Governor to
appoint lessee.
Mr. Thompson moved to lay the bill on the table
which motion did not prevail.
Mr. Thompson opposed the BILL because the convicts
be engaged in the usual avncaiions of life
His opinion was that persons should be kept at pursuits
that would be beneficial To them after their release
Mr.. Cookery considered the bill virtually selling
the conyIcts.
Mr.. Downing hoped the question would not be passed
this evening; when
On motion, the House adjourned.
SENATE.
Ion