New-York daily tribune., 1846-01-15
COMMERCIAL AND MONEY MATTERS.


WEDNESDAY, P. NJ.
The upward tendency in stocks continues, and
prices are nearly all better to-day The reaction seems
| to be permanent ore
In Exchanges we hear of no change. Sterling is
| sI0si Francs S 27!, and all dull Guders 3o.a39i;
Marks Banco a5i a35l Rix Dollars 7aie7si
The Erie matter was debated in the Board this
morning, but decision waa had
We have received copy of the bill for the
ration of the State Credit reported to the Indiana Legis
lature. Its features much the have be.
fore given. The bill commences By declaring that
honor and justice alike require that such equitable pro-
vision should be speedily made for the discharge OF the
pecuniary obligations Of the State shall be just and ac-
ceptabe to s creditors honorable to the people Of In
diana, and at the time within the ability OF the
State without farther involving the people in genera
debt" The main points ofhe bill are in the lst and 6th
sections, which we annex
SEC l. Be ii enacted By The General assembly Of The
State of Indiana That whenever the holder Of any bond
or bonds of this State he bonds issued under the orr
ena Bank charter excepted) shall choose surrender
the same up to the State there shall be issued to such
holder new certificate Of stock which stock shall be
redeemable the pleasure or the state alter - years
and which certificate shall specify and set forth the
amount of principal of such bond bonds surrender
ed and also distinct from The principal the amount OF in
terest which may appear to be due and eccrung on
such bond bonds from ls January 1871 to lst Janu
ary le47, inclusive computing the same at the rate OF
two and and half per centum per annum, and which
the State will pay interest follows that is TO say On
the principal specified in such certificate the State shall
and will pay interest and after the of per
centum per from the first DAY OF January le47,
up and inclusive OF the first day OF January 1883 al
which period the amount OF interest specified in such
certificate and the opehaf of per cent per annum
on said principal from the first day Of January. le47 to
the first day OF January 1883 shall be added To SAID prn
cpa and from that time forth the State shall and VIII
pay said principal and interest added at and after
he rate of
shall be finally redeemed: Prooided horere, Ihat ne
bond shal be surrendered as aforesaid or cerncae s
sud therefor has attached II the coupons or
interest warrants falling due and after the rst day OF
July lS47: and prorided farther, That II the revenues
of the State up the first day oil January ieo 70 De oe
rived from property OF twenty i've cents on every
one hundred dollars OF value and poll tax OF seventy
FIVE shall not by reason OF the taxes being paid IN
six per cent Treasury notes, from other causes ne
sufficient after defrayng the current expenses oil the
Government pay said of interest OF two per cent
then and the State shall only be required to
pay up to said first day Of January such rate OF IN
,eresr par funds in her Treasury derived from the
taxation aforesaid shall enable her TO do which shall be
paid and distributed pro the princpa! specified in
such certificate of stock and the deficit with Six per cent
interest per annum from the time became due the
State shall make up and pay the holders OF such cert
fca,es, or by the first day OF January ls93
SEC 6. For the purpose OF Saving and securing 10
themselves the remainder of the interest not herein be.
provided for and the accruing interest on the bonus
surrendered aforesaid, computing the same at and
after the rate of and half per cenum per annu,
il shall be lawful for said boudhoders any of them
and they shall have the privilege OF raising among them
selves by pro subscription on the amount oi bonds
held by them respectively any time before the hrst
day of November next sufficient sum7not less nov,
ever than millions TWO hundred and nifty Thousand
dolars-to complete the Wabash and Erie Canal TO
EVANSVILLE and upon subscribing and promising to pay
said amout or so much thereof as may be needed. TO
as hereinafter provided and TO be advanced in
such shall ensure the completion OF ssd canal
TO Evansville within four years from the taking effect OF
this act The canal lands and tolls and revenues OF said
canal shall be specifically set apart and conveyed 10 said
trustees and security. TO reimburse TO said bond
holders their said advances and pay the remaining In
their said bonds in the manner hereafter spec
fed.
The money from the sales of the Canal Lands to be
applied first the reimbursement Of the sums advanced
for the completion oftbe Canal and then paymentofin
teres to the bondholders who have advanced money for
the completion being preferred The bill provides for
the sale Of the Canal Lands for the reverng of the Ca
nal to the State and dictates the duties OF the Trus
tees The bill seems to be good one, and we under.
stand will probably be passed.
The following the uncurrent money quota