Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-02-19
INplANAroL1s. February Is. 1876.


Hon. DENNIS PENNINGTON, and others
Gentlemen II have the honor 10 acknowledge the
receipt of your letter of the 18th of January and
whilst l duly appreciate the kind expressions ii
contains TO the manner IN which have discI arged
nv duty, in the recent negotiation with the Legisla
ture, for the payment of the State debt, feel no less
indebted you for the which it affords of
your high personal regard. 1t is true, you state,
that | among you stranger, little known to
the citizens of indianapolis, and less to the members
of the Legislature but should lie wanting in graft
tude if did not before leaving the State, acknow-
ledge the kindness and attention have received from
both.
There are citizens Of your State. some of whose
names appear the letter which has drawn forth
this response and others whose are not there
for whom shall always cherish the highest reg ard,
and without whose s,eadfast cooperation, feel war
ranted in saying, the measure could not have sue
ceeded who vet regarded the effort, my first arri-
VAL fruitless one, and so frankly advised me.
No one not familiar with the history of it, could
for a moment appreciate the difficulties the way Of
harmonizing many minds a subject of such
great importance. and which had been for so long
time truly vexed question. 1t is unnecessary for
me 10 enter into them. / allude to them merely
with the view Of remarking that the final result was
which gave greater satisfaction TO the friends of
the measure it difficulties which seemed
at first insuperable.
Some of these difficulties arc well expressed in let
Of the most intelligent and influential members of
the House of Representatives, written nee his re-
turn to his home, who in the honest discharge of his
duty opposed the bill throughout until tie last amend
ment of Mr.. Secrest rendered it acceptable to HIM, in
which lie says - 1t need be wonder if there was
excitement if we consider the weight of tie subject
tie feveri>h anxiety If tie public minG-tle great
anxiety of the friends of the erteHSifn f tie canal,
to- much overlooking. as some tecICd. the coise-
quences tie State in eeneral-ti.e cir' uusan'
attend no the drbate-;he impression Il at agents,
in sell NC our bonds, or a portion of item. Lad con-
nived with the purchasers and acted improperly. ard
the difficulty Of distinguishing between the several
classes of purchaserS-all were naturally confound.
ogeiher-puLlic feeling excited against all and
centraed upon your head as the agent If all and
here DIES to say in justice 10 those wlo felt and
acted with the of this letter, that one can
suspect the purity Of tier motives, and whilst they
exerted themselves at intermediate stages 10 res
the passage of the ILL., it lie d. ubted that they
will exhibit a corresponding zeal in support of
measure which by so strong vote has now Iecome
the law of the land
Whilst in my incipent movements met with
much to discourage, | am bound TO say that also
met with much to encourage me; ard here avail
myself of the occasion tn say that throughout tie
whole of it, | was encouraged and sustained ty large
number of go men, in aud of the Legislature.
belonging to both of lie great political parties, mo
which Il e Safe is divided. Their counensnce and
support sustained and minated from beg mining
end and cannot therefore assent to your suggestion
that the success of the measure is so much 10 BE-
attributed TO my instrumeutalIty.
| hope | shall be pardOned for abiding 10 one
whose name appears at the head of your lis-I mean
the venerable Dennis Pennington--in terms which
shall convey faint sense of tie respect which en-
terrain for him, and with which shall always cher
ish his memory. In tie outset of the business and
when oppressed by the difficulties to which have al
ludfd, deemed it my duty 10 pay him my respects
personally and confer with him the subject Of my
mission 1t was with some misgivings as TO the re-
suit of the interview that proceeded TO his lodgings
for had been informed that he represented people
which from the first had been strenuousy opposed to
the State policy which had produced her heavy debt
but shall never forget the prompt and cheering well
come which received from this father of the House.
nor the characteristic fankness and benevoence with
which he said to me when the subject Of the public
debt was introduced,- Sir, the boys have got us in
10 n bad scrape and must get them out of it it
is an honest debt and ii must be paid" | need not
say that left him with grateful heart; this express
sion of his sentiments was token by which was
encouraged to press onward in the performance of my
Duty and the impression produced by this interview
was more deeply engrayen on my heart, when SUISSE
ouently after the passage IF the bill IN the House.
and he was designated by its general desire to be the
bearer of it to the Senate, | witnessed the scene
when he formally announced it TO that body
When it is considered that for long time it has
heen believed that it was almost impracticable for the
people of Indiana pay their public debt, at least
that it would require very heavy taxation, it is
quite natural for to suppose that the provision
now made out of the revenue is too small, and not
in proportion to the resources of the State and that
the general arrangement is not so favorable to the
| bondholders as might have been expected.
may as well state gentlemen, frankly, the principal
reasons which Influenced in making my second prop
osition which proposed charge half the interest
of the public debt upon the Wabash and Erie ca
nal. The general conviction was found to be in ac-
cordance with the opinion expressed in the Executive
| Message that the ability of the State to pay the
interest in full according to the terms Of her bonds,
on her large public debt depended upon the revenues