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

Mr. Lane remarked the Senator had said, that he
was friendly the completion of the Wabash and Eue
canal He wished Judge that gentleman by his works.
He then read the amendment Of the gentleman from
Dearborn which in effect requires, that every dollar Of
the State bonds shall be delivered before the canal
progress lie wished TO the Senator from TppecaDoe
passing along The line Of canal, and asking
the of the people after supporting such amend
ment. They would be fools indeed IT he could gull
them with such friendship for their canal The amend
ment provides, that every dollar of bonds shall
in before operations shall commence. lie is lawyer,
and, said good one and it would be hard make
the people believe that IL is his wish defeat The
canal both and orever. How the gentleman
say he favor of the completion Of the canal when
ms every vote Will show that he has always been opposed
10 IT.
Mr.. Coffin said, he held in his hand the amendment
as offered by The Senator from Dearborn yesterday,
which only coniemPates the delivery of half of
outstanding bonds before operations shall commence
the canal lie friend TO The canal-no one from
the teeth out, the with some gentlemen-not
like the lamb the guse of the lion He proceed
ed TO show the entire alacy Of the argument OF the gen.
teman from Tppecanoe, and the perfect Inconsistency
of friendship The completion the canal with the
position he occupied this floor Ii was imnossi.
Bile, under the amendment that gentleman supported for
the cana to progress until every bond should be brought
into The arrangement Indeed II settled the fate of the
canal at once and forever Yes strange appear,
scene occurred last night IN caucus by those hav-
ing such holy eelngf,r the canal in shaping
ment TO defeat H. lie did, III the language of member
of the House, wish a bold rascal-not one that
comes you a VIOLIN sleeps clothing for who will
not believe that amongst the many vessels that have
the bonds of Indiana their pockets lie asked,
what the of the Senator from Tippecanoe last
year, IN reference TO the canal He dead against
il. If gentlemen the friends OF a COMPROMISE let
them come 10 their agreement yesterday Ii Sen
aors regard the canal local measure let them
vote against it, If it will pay off half let
them vote against it. The people on that canal even
when completed, will in a tax on their commerce pay
half the debt of the entirely and they will
bear an equal proportion OF the rest OF the State paw
ing the other half
Mr. Buell. said, that it necessary make the
amendment more explicit II only required the cancel
ling of half bonds That If the the bond holders
would take canal certificates half our bonds
the canal would be delivered up
MIR. Rockhl, showed, that if one half Of the bonds
would come in under this arIangement-and new bonds
be issued for half bearing five per interest and
canal certificates for the other half would be
TO the bondhodeTs and to the State, that the whole
would eventually In. lie showed the extreme
hardship of compelling bondhOlders who might be dis
posed TO come into the arrangement, surrender the
whole of their bonds for canal certificates The
effect would be, that the remaining bondholders who held
back, would derive all the benefits from the increased
taxation and the payment of the five per bonds by
the State. 1t would afford nducement for the bond
holders hold back, that would forever prevent any
rangcment from taking place.
MIR. Reyburn thought that the proposiiun as set forth
BY The Senator from Allen, fair that man. hav
ing the interest OF has country heart could against
hat feelings had gentlemen for the poor bondhoders
that would require them take canal the
whole of their bonds which would be the effect unless
all The bonds should at once come in. lie believed, if
rejected proposition like this The dark stain of re-
pudatIon would be Justly afix led against
MIR. Holloway said, be stood on ferent grounds from
other gentlemen this floor had always advocated
the payment of the whole debt of Indiana. He wished
to meet the question II presented itself He did
not regard it offer of the State the bondhoders
but offer of the bondhoders TO the State. He then
read from the Indiana Democrat which saws
that the canal is to be taken for half of the debt &c.
Is not this the proposition II regarded here and
also in New York, extracts from papers in that city
would show. He wished to have the whole matter or
fairly and fully understood lie did not believe
the WhoIe of the bondholders would this ar
rangement tie opposed the operations of the committee
from the commencement because he believed from the
first that they would bring just such bill has been
reported. He believed that but for the operations of that
committee a plan would have been devised for the paw
ment of our debt Ii might he said that that committee
did not prevent others from acting This true But
they embarrassed the whole question in such manner
that impossible 10 He believed that the pass
of this bill would entail than the sdop-
ton Of the of internal Improvement itself He
believed The Wabash and Erie canal would Weld
one per cent The bill proposition OF the bondhod-
the offer of Indiana.
Mr. Lane had only word two to say, in reply TO
the gentleman from Wayne. He had much conf
dence IN that genemans intelligence believe him sim
IN his arguments, he had made up his opinions
very hastily He he difficulty in the way Of
the amendment. In this he certainly not sincere He
wishes one hall of our bondhoders 10 in and take
the canal certificates for their entire debt that he will
not yield one per cent. When this is done be would
TO the other half come gentlemen with your bonds
anu get cent from the stale treasury. The
teman cannot arrive any other conclusion, giving his
argument It's full weight The gentleman had from
newspaper from Indianapolis. lie would read from one
from old Wayne (the Wayne County Record) That
paper that the payment of debt, left
people would be accomplished. He knew nothing
of the politics OF the paper but he admired its its editor
This question above all party considerations and
Senators should act for the good of their country.
Mr.. Coffin now moved to amend the amendment of Mr..
Buell.. by substituting the amendment that Senator had
offered yesterday, for the he offered this
ing.
Mr. Buell. said that he had drawn up his amendment
hastily, on yesterday. He had been IN but
this morning, the suggestion of gentlemen he
had modified his amendment He wished for further
reflection, and the having arrived he would move an
adjournment; aud
The Senate adjourned.
AFTERNOON
State Dat.
The question taken the amendment of Mr.. En-
glish, to strike half, and $1,000 failed;
ayes 20, 90.
The vote then taken the amendment as modi-
fled by MIR. Coffin, follows, to-wit:
PrOridcd That until there is surrendered and can
celed bonds OF the State 10 the of half Of all
the bonds outstanding Except bank bonds) 1t shall not
he lawful for the Governor 10 convey, by deed the Wa
bash and Erie canal lands, tolls &c provided in the
9Th section of this Prorided further That the accep
lance provided IN the 1th secon of this of grant
of land, made by the General Government by this act
TO grant certain lands the State of Indiana better
enable the said Stale To extend and complete the Wabash
and Erie canal, from Terre llaute the Ohio river
Shall not be construed 10 make II obligatory the State
al any time hereafter complete said canal out of its
revenues derived from taxation
AYEs-Akin, Allison Barbour, Berry of Monroe Bow
srs, Bradbury, Buell. Chapman of Daviess Chapman of
LapOrte ChenowIih, Coffin, Conner Cuupy Davis Ed
Monsoon, Ellis, English. Goodenow. IIame Hamrick Han
iy Hardin, Henry HERMAN, Howell Jackson Jones
lane, Lewiston, Logan, Major, Miller, Montgomery