Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-12-24


FELLOW CITIZENS The will of a free and indie
pendent people having again assigned to the duties
of the first executive Office within their gift, have
in your presence ard that Of Heaven, bound myself by
the solemn pledge the faithful discharge of the
trust con6ded to my hands, The period through which
have passed, since first occupying my present
ton, has been attended with difficulty and response
bity For this proof the part Of my fellow citizens
of their appreciation of my past official conduct-for
this renewed and increased expression of their conf
dence in the rectude Of my future Intentions tender
the homage of grateful heart. Despairing of finding
terms adequately expressive of my sense of the obi
CATION conferred, shall endeavor TO show it, to the
best of my humble talents, in my continued, and, if
possible in my increased exertions to guard their
rights protect their interests, and promote their well
fare.
briefretrospec the condition of our State affairs,
especially as furnishing lesson for the future,
may not be regarded inappropriate on this
occasion When | first entered upon the duties of
the distinguished Office to which have again been
elevated by the Partially of my fellow citizens the
degree and extent of suffering throughout the entire
community were without parallel in our State. Al
every one who had possessed credit in debt,
and a very large number, TO all human appearance,
hopelessly So Business was broken up, enterprise
was paralyzed, and individual credit almost
annhated Relief laws, they are usually termed,
had been nteposed to prevent the general and sudden
sacrifice of SO large portion Of the property OF the
citizens that the currency In the community, IN the
absence of such laws would have been little than
sufficient pay the costs of itigation thus threaten
ing to strip the debtor of the means of paying his
debts without at the same time benefttng the credi-
tor
But if the condition and prospects Of the people
individually, gloomy, what shall be said OF those
of the State Need go into calculation of The
millions of liability-of the Alpine height of that
debt, resting like incubus upon the State, and
threatening crush her vital energies under It's pom
derous load
Our hest citizens desparing of extrcaion from the
shack,es Of debt, were sacrificing their homes and
removing beyond the limits of the State, while Capital
and Industry avoided our blghted shores IN their on
ward tide TO the west.
How many Of our citizens believed-noy was there
one who believed, that the full and entire amount of
our public debt principal and interest, would ever be
paid How many thought that we should ever be
able 10 plunge TO the full depth of liability, and
"pluck up drowned honor by the locks!"
What is now the condition of the great mass of our
fellow citizens Let ii for ITSELF 1t is true,
it is not yet all that could be desired but its percep
bic improvement teaches US, that the only reliable
of reaching that full degree Of prosperity to
which, under Providence, we may hopefully aspire,
is the systematic adherence to those maxms of indus
try and rugality by the peope-o that strict economy
by the State government, and to that abstinence from
schemes of visionary wealth the part of both, by
the observance of which, altered condition for the
better, has been mainly produced Above ALL desire,
this solemn occasion, to raise my warning voice
against the alurements of credit. This caution, al
a times proper is more particularly needed IN times
of prosperity, of return of which, should satsfac-
tory arrangement be made Of our State debt, al
ready have encouraging evidence. rohpt payments,
where there Is ability, always better for both
seller and purchaser and where there is not ability il
is BETTER in the great majority Of cases, that the pur
chase should not be made. That credit Is sometimes
i = 4 49, = IL
that such instances are of rare occurrence. Actu-
ated, then, by the deepest for the welfare
of the peope-he strongest regard for the honor and
prosperity of the State cannot but indulge the hope
that taught alike by the lessons Of experience, and
provident forecast the yawning gulf of debt under
the specous name Of credit will be carefully avoided
As to existing prospects in relation To the State
debt may not venture to express the opinions that
enough has already transpired to afford well ground
ed hope for its carly arrangement terms satisfactory
10 our creditors acceptable TO our citizens, and hon.
orable to the State! Should the arrangement be
finally made, substantially, proposed by the bill OF
last session. il is demonstrate that no higher rate
taxes will ever be required from the people TO satisfy
the whole of our State debt, principal and interest
than they have been and now paying for the pres
ent year. In my future administration of the affairs
Of the State, shall endeavor restrict myself within
the powers delegated by the constitutional avoid al
encroachment upon either Of the coordinate branches
[ OF gOFeTnuent-to see, 10 ule oest vi my
abilities, that the laws faithfully and impartally
executed and TO regard the affairs and interests o.
Indiana the first object Of my attention and care
Trusting to my fellow citizens for that kind in
diligence and support with which | have hitherto
been highly favored invoke the aid of that Infinite
Power who governs and controls the universe, e
lead our councils TO what is best, and make then
promotive of our anon happiness.
JAMES wHITCOMB.
A THANKLEss PARTIzAN-The True Blue, whig
paper published in Belmont county, Ohio holds the