Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1845-1851, 1849-12-22
SENATE
:.
FRIDAY, December q.
Sen..c met.

FRIDAY, December Il.
Sena:e met,
Reports of COMMITTEES.
Mr. Miller, from the committee Corporations, reported
back bill amend the charter of the lafayette insu
company with amendment, upon the adoption of
which maj nity Of the committee recommend its passage
the report concured in and amendment adopted-ayes
Mr. Reid of Union offered the following amendment:
Said company shall be allowed 10 demand or receive
any person Of any btu of exchange promis
sorry any mortgage security as an assignment on the
zeal personal estate OF said insured person tor their own
special benefit aud security for their security jon'y
with any other person.
Tha, the said company shall not be allowed or construed
over present emit bills of credit
or guarantee or insure any bank bill bill Of exchange
mssory note bill Of credit currency in
Indiana which may be Issued in this any other State
payable out Of this State, at any bank IN The same
The following the remarks Of Mr. Reid oil Unon, III
support OF his amendment 10 the bill
Mr. President Having voted III the affirmative, now
for the purpose Of moving decentralization oil the vote
OF the Senate aud when that done shall fuher move
that bill be recommited to the committee on o'pora-
ons with the following Instructions, 10 the nature oil amend
menis, 10 be inserted in their proper places
Mr. President, in rising to make these amendments, 90
from dese TO prevent the passage OF The BILL Out 'or
the purpose of perecting the The act before US Is
granting large and important privileges 10 'he COM
pany aud unless the amendments now proposed are adopted
| for the Young as am, and without
the experience knowledge Of the Senator from Marion
yet know little of banking and from hasy peiu>ai
OF Till before satisfied that large banking pow"
e IN be claimed under this charter
Nh President duty guard the rights and pivi-
leg.. of our citizens fraud and imposition, 10
limit the extraordinary powers claimed by the tiends oi
copoatons of the present day. and when have done
then ought foster and encourage associated wealth ana
capita when these investments made for the benefit oil
our the development OF The riches OF our
beloved State.
Mr. President dem that the Senate examine carefully
the puIpot amendments aud before cats It's vote
Il shall do so fully informed aud advised the bearing oil
the whole measure For Tins purpose call the sober
second thought of the old democracy IL Indiana with tha oil
the moderate wings this hJor and ak them 10 vote Tor
intcre %
c,;zens When this done, the constituents OF my fellow
cannot them for then conduct, certainly not
for giving consideration to the measure before u.s. nor
for doing that which in their sound judgment was done with
All the lights them and what they did believing 10 be
hight. !,
the Senate with request that amendments be
in the amended charter before the same be-
comes The law of this State
The amendment was adopted
Mr. Berry moved To reer The Oil 10 seieet coihintee
with instructions 10 add
Sec Legislature reserves the right to alter or
amend the charter .
noe, we've demanded by two senator's
rhose who voted n the affirmative are,
nesr. Cassa Conduit, C"rnett Day, Dole Ellis Carver
t;,abam Hamrick Henry, Hendricks, Herod, Holloway,
uouehton Hubbard, Lyon, Maiiiu, McCoriy Millikn,
Morgan Oiel Potter, Reid OF Union Rous-
seau, Seeih, Teegaden, Walker aud Wmstandey-2'
! Those who voted in the negative are . .
Nessrs Berry, Dawson, English Evans, Hanna, Hardin,
! y,me. Kinnaid Miller Morrison, Read of Clark, and
Wsods-l2 , 49,,
i So The instructions were laid on the table.
MI Berry moved To refer the bill 10 select committee,
with instructions to add
i The General Assembly reserves the light to re-
a The rate of interest allowed be taken by this char
ter fviz ten per provided such reduction shall not DC
below six per cent per aunun.