Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1847-01-28
Volume VI:$;a;:;;::;::Number 32.

The bondholders ask for the by them
OF $500 OC0 The Wabash and Erie canal renIs and
tolls and all the lands donated BY The general government
for its construction. This be done State
repudato They ask then for the payment Of S3,000,-
600 by them, the surrender by them Of what
to about 50 adding INTEREST," this be done
repudiators.
But again, u proposed TO extend the canal Evans
Vile There enough proposed be advanced TO
complete the He believed il
enlon OF the bondhoiders to complete 1t further than
Terre Hauie.
1t had been advanced by Mr. Butler that portion Of
the bOndOders would surrender their bonds upon the
canal, they preferred the credit aud faith of the State
Thus must prefer portion and pay The remain
der. He could not make any distinction between the
creditors of the State Ii is said that portions OF the
bonds that cannot be surrendered IN the hands Of
trustees Tor the benefit Of widows and orphans. Was
right TO prefer portion OF creditors and shut those
meritorous claims. lie believed that those bonds
be surrendered bonds ed without consd
eraton-could he be made to believe that they mer
torious he would not be found in The opposition.
lie preferred the plan pay the debt without preeren
to fund the debt and thus pay the debt and interest
by the year 1857 But that plan IS obnoxious because
does prosecute the canal TO observation-disclosures it
does not profess pay certain persons bondhodes
certain brokers' IL the glory of the State the friends
of The bill are after, IL is dollars and cents
But SUPPOSE this bill does pass, bono Ii said last
winter that the bill sufficient but here another pro-
position He ignorant of the word patriotism used
at the present day, different from that Of old days
IL said patriotism pass this bill. Tie woud
give description Of species of patriotism extan
comes to him aud tells him a patriot this bill
pass lie found that that mans patriotism
is based upon desire be Trustee proposed by the
bill. Again. Mr. Butler had said Mr. Bright aud himself
knew all about these Matters they formed the coucu
and presented them the members and they
take them, mysterious subject aud could
understand but himself and Mr.. Bright.
Let this be delayed-et IL be deferred year,
that may be canvassed before the people, aud the
year he could well others, act enlightened
upon the subject
Mr.. Edmonston could not reconcile the assertion Of
members with their acts They in one breath spoke of
settling the debt, and in the moment voted in such
destroy all hopes OF payment honorable to
the State The gentleman said he wished to Mr.
Butler clothed with authority from the oondhodsrs.
Nothing could satisfy him If the present authority Of the
agent did not satisfy him. lie sorry to private
character dragged in opposition to this bill. An extract
has been read relating Mr. Butler while that gentleman
in his YOUTH that extract might have been true
while IN his YOUTH and yet the character changed
TO be of different cast.
Mr.. Osborn and explained satisfactorily the
friends and opponents of the bill the amendment proposed
by himself.
Mr. Ellis remarked that the pursued by the OPP
ponens Of this bill had been used contumelious
ner by It's friends when the amendments proposed
by its opponents in good faith.
The bill of last winter expired, by limitation, the first of
this month"; why il then attempted engrat upon il
bill? Why did not its friends pass the old making
1t new and Pian that those that may read? There
certainly some covert design Time should be given
to investigate the matter, that nothing may be put
dangering the interests of the State Why then these
charges by the friends.
Reputation was to be charged upon this State, The
people may he poor and yet regulators.
He for himself would say, he would Iegislaie for the
State in manner that would compCrt 10 the dignity and
interest of the State, and under the dictson of
If the bill did pass, he wished it pass in shape
the most acceptable TO the people of the State.
The bondholders proposed to advance $780, 00 upon
the condition Of placing their disposal property 10
the value the lowest calculation 81 800 900 pledge
OF repayment.
He thought that unless there was some interest con-
nected in the NATTER there would be that heat that
existed IN the Senate causing elimination and re-crmi-
nation merely upon the abstract question of adjusting the
| State debt.
Mr. Coffin that there determination to speak
this down. lie FREQ from all excitement on
this subject Ii had been said had other proposition
been made would have been supported. Here Mr.. c.
the latter denied That Mr.. E. had last winter pledged
himself to support certain and afterwards voted
against il, the of understanding it, Ii is
provided by this bill that the bondhoders get and
half per cent, this will satisfy the gentleman. Mr.. Coffin
heard Mr. Butler state that the law OF last winter
would take effect in -four hours after its passage,
and he believed else did, aud he had been con-
versing with him both last winter and this.
Giving the canal TO The bondholders not working
injustice creditors for the bondholders took
subject to all prior rights and resrctions and the truth
there had been not paid out in the construc
ton of that canal the State still owed for every bor
rowed for Its construction.
He hoped the would be taken square up aud down
and no speaking against time
Messs. Ellis, Coffin, and Bowers then continued the
discussion by explanations.
Mr.. Bowers believed the agency of Mr. Butler fc-
ovs. The object Of the measure to secuIe the
completion of the Wabash and Eric canal.
Mr. Montgomery asked leave TO introduce resolution
that when the Senate aourns il shall adjourn to meet al
o'clock not granted
Mr. Handy moved to adjourn carried