Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-01-22

ations by Of the best mahemalicisns of the State
showing that in SIS years under this proposition taking
the estimated valuation of the property 1854 as
which had been estimated at l74 100000 and 1874 900
polls the whole debt both interest aud principal would be
fully paid in SIS years. without taking account any in
in polls and taxabes and fixing the rate of
IS the hundred dollars and as cents as DOLL
tax. According this calculation shous the State de-
dermine pay the debt in 55 years. after the year 1854
there might be gradual dimnution In taxation in ratio
ProPortionate TO the Of the and
Of the State.
Mr.. secrest exhibited another table as follows:
BY aPproPriang 100000 annually the liquidation
Of the principal debt, after paying the interest," il would
take 80 pay off si3o0O000 and 65 years to pay
of s6,50000e
The gross interest paid by the State at the end Of
$50 years. the debt Of would be p per
cent 2l,2s7 800
The gross interest paid BY the State at The
end Of 65 years en- s6.5oO,0oo at per
cent would be lO.725OOO
Being saving TO the State in the way Of
in,eres, of 10 562, 500
In favor Of the amendment adopted Yesterday
If the State should be kept permanently at the
standard Of p mills rs cents polls and the taxes were
not to increase, the S6500O00 would be paid off in less
than half the time Of the 81 900 OO0 and further saw
ing to the State would he effected
Mr. Carr said he stated yesterday that he had in
roduced the last proposition of Mr. Butler in the Joint
select committee, and il any to blame, for this
amendment, The censure should fall upon him.
Mr.. Nj Donald explained. lie believed the gentleman
was deceived in the effect of the proposition and he
ccnsured the Agent OF the bondhoIders in throwing in
tins proposition as Tuse TO divide the friends Of the
amendment throwing the bill before the people for rai-
cation.
Mr.. Carr continued, and said, he would always be
glad be deceived in this y the last posi-
ton every gentleman could perceive that the
pghed faith Of the State at once relieved from one
half the debt. The interest half the debt is little
over 1897 900 per annum He then proceeded show.
what would be gained IN interest aone in the period
of twenty years. The amount Of interest half
the debt is 1927 1000 per annum which in 90 years would
amount S6,543 100. He had offered the amendment
in the committee, and had it then been adopted, he
would, from the first, have supported the bill But that
proposition would not then be acceded to. This shows
concIusvely whether, there is difference, ay,
wide difference between the two propositions. He be-
eved now was the time 10 sell the canal-it
spcious perod-a golden that might never recur
The State would be relieved at from half her
Indebtedness, and he prepared TO go for the
bill He thought the best of the State would be
promoted by it, There CLEAN Of hope, that
entire Indebtedness would later be wiped
out. IL was but little matter TO him. personally whether
he again entered these Halls But it consid-
eTatIon, which mpelled hun TO any sacrifice TO take
humble part in restoring the honor and credit of the
State, and be the means, the end, Of aiding quida-
ting the entire Indebtedness OF Indiana In bis mind
there great difference in the bill it stood
and when it was introduced into this House.
Mr. Pennington now moved the previous question,
which being sustained, was put, to-wii " Shall the bill
pass and was decided in the affirmative, ayes 81
AYEs.-Messrs. Baker, Bowman, BrumfeId, Carr
Carnan, Chambers Clements, Conduit, Cookery, Cor
neius, Cruikshank, Dole, Downing, Edwards Ellis, En-
dcott, 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
ningIon Porter, Robinson, Rousseau, Ruby Seawright
Secrest, Slater, Seeh Stan6eId, Stapp, Stewart Ted
ford, Thompson, Tomlnson, vandeveer, WATT Webber,
Wiley, Wilson Of Marion, Wilson of Sullivan, Wise and
Yocum-6l.
NoEs.-Arnold Cameron, Carter, Cymer, Coffin
Coon, Cox, Davis, Ferguson, Ford, Henry, Henton
Hnchman Jackson, kimberIIn, Leyman, Legg, Lewis,
Mccormick, MDonald, MIckle, Mooney, Nelson Pow
ers, Riley, Rppey, Shanks, Smith, Taber, Turner,
Webb, Wilson of Noble and Mr. Speaker-33.
Mr.. HazeIrigg moved that The the passage
of the bill BE- reconsdered which motion did pre-
vail, ayes 90, noes 65.
Mr. Pennington was directed to bear a message con-
tanning the bill, 10 the Senate.
The House now again proceeded to the consideration
Of the orders of day. and bills were read second
time, and ordered to be engrossed, &c.
The bill of the Senate, relation to the right vend
liquors in Marion county was read second time; and
On motion of Mr. Webber, referred to the committee
on the affairs of the Of Indianapolis.
Mr.. Bowling introduced bill to establish Land of
fee for the sale of lands granted by Congress for the
prosecution and completion of the Wabash and Erie
nal from Terre Hauie to Evansville providing, that
the Governor shall in 80 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,
TO give bond the of $780, 900 for the faithful per-
Torrance of his dues-the lands be divided into three
The first be sold 50 so per the
cond at $500 and the third at 81 25 per Actual
settlers have the preference other purchasers for
year. for either so 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.
Mr.. Thompson moved that the bill be laid the Ia
BILE for consideration; which motion prevailed.
The bill of the Senate leasing the Indiana State Prison
for ten years $4,000 per annum-providing for the
erection Of MachneIy-the convcts to be engaged with
IN the walls of the prison the rolling of IRON, &c.the
convicts to labor than ten hours The lessee
not inct corporal punishment but refer to Warden
of prison appointed by State who is to punish The
lessee procure library of Sunday School books, &c
the Warden to receive salary of 5000 The Warden
to make annual reports TO Legislature. The Governor to
appoint lessee.
Mr. Thompson moved to lay the bill the table
which motion did not prevail.
Mr. Thompson opposed the bill, because the convrts
were not be engaged in the usual avocaons of life
His opinion was that persons should be kept pursuits
that would be beneficial them after their release.
Mr. Cookery considered the bill virtually selling
the cOnvicts.
Mr.. bowling hoped the question would not be passed
this evening; when,
On motion, the House adjourned
SENATE.
FRIDAY. JAM l6 1886