The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1849-12-07

The interest paid at the Indiana Agency in
the city of New York LIST July last, was as be-f
fore stated S95, 3O5, being two per cent, or
S4,765 GOO, the debt al that time, under the
new arrangement.
In January. 1850, we shall probably have t.
pay, 100000, as two hundred and thirty
bonds coming in from July to January will
make up that amount. "a
The State commenced paying interest, with
July, lS47, and to the present time has paid
five srmi-annual payments, amounting in the
aggregate TO nearly half million of dollars
meantime the State stock has been steadily
and gradually advancing in value until it now
stands at seventy cents on the dollar tits full
value taking six per cent interest per annun.
as the sandard.) This fact must be gratifying
to the friends OF the Slale-more especially 10
those who took so deep an interest in the
honorable adjustment of the States indebted
ness; as it furnishes unmistakable evidence of
an increasing confidence in her resources, as
well as firm reliance upon her integrity.
The large amount of Treasury notes (com-
monty denominated scrip which has hereto
fore been paid for taxes. has somewhat en-
barrassed the State Treasury. consequently we
have a times been without the means TO pay
our interest as il became due-lor the past di-
vidends this deficiency has been supplied by
making temporary loans from our banks (none
of which remain unpaid, except the one made
20 meet the interest in July last.( To avoid
this embarrassment upon the Treasury and TO
enable the State to make her regular semi-an-
nual payments from the taxes annually paid by
her citizens the legislature by Joint resolu-
ton passed at the last session instructed the
State Agent to negotiate an extension of the
January payment of interest, until March of
each year. In June last the Agent of State
prepared and addressed circular TO our bond
holders, Ga copy of which was also transmit
ted TO the Executive Department. in which he
proposed pOstponement OF tie payment of
the January instdlment of interest, until the
first Monday of the succeeding March, atwhich
time ii was further proposed that the deferred
dividend or interest should be paid with six
per cent interest thereon.
Up TO October last, he had received ans Eers
from two hundred and eight of cur bondhod-
ers, out of five ht rGreG and forty-nine-a large
proportion of these from whom answers have
been received accete to the terms of the circu-
ar-some agree to the terms upon condition,
that all the others will accede-a number
yielded acknowledgement wishing to oppose
lanv reasonable request the State may make in
relation To this question. and seine refuse pos
remaining three hundred and for
ty-one have not as yet answered the Agent of
State. In view of The critical position OF the
State upon this question. and the great com
pleXity that may be produced in keeping the
Eaccounts of the Agency, do not the reasons
which have heretofore Influenced the proper
oticels. TO negotiate temporary loans 10 meet
promptly the payment of interest due the
bondholdars. operate with the anne force now
las heretofore? believe they do: il is there
fore recommended that provision be made by
law Il anticipate this contingency.
In conformity with the provisions OF an
act entitled An act for taking the sense ol
the qualified voters CT the State, on the call
ling of conyrnticr, 20 alter, amend, or re-
wise the cousliluticn Of this State" (arproved
Jon.lary Is. l849l 2 DOLL was opened al the
annual election bel in August last, at the
places o! holding elections in the several
counties OF this State, and from the returns
made TO The Secretary of State as required
by the act referred to, it APPEARS, that there
were cast a said election. in favor Of calling
a convention l,l50 votes and against it,
57.4l8 votes; the total vote of the Slate for
Governor is l47 ESQ., the total vote of the
State is l49, ia, Cn this latter statement the
vote Of Fayette county for Governor is inclu-
ded, the TOTAL vote of that county not having
been returncd) showing a majority of 6,6l2
votes, in favor of call for ID convention over
all the votes cast at that election. The duty
of the present General Assembly is plain. 1t
VIII become nSCtSSd y 10 pTOVlue BY law Tor
distriCting the Stale with view 10 the cleo
ton of delegates to that convention-to de-
termine the rumber of delegates which shall
compose that hcdy--and the time of holding
The same. Is Is most respectfully suggested
that IN the discharge of this important duty,
The members of the General Assembly should
divest themselves of all party predlecions,
and make such an apportionment as will in
sure TO the people of the State, full and fair
representation in that body-ths being done
great initiative step is taken, which will tend
DIS much as any other to predispose the people
OF the State 10 adopt the new constitution
which the convention may present 10 them
for their ratification.
Whilst upon this suhectit is proper to say;
that it will be necessary to levy an addition
al tax to defray the expenses OF the conven-
ton; the amount necessary will depend much
upon the length of tie present ses~',.,, of the
General Assembly In all probaili, 'ne or
ganlc laws OF the State will nAdrf.,r IN the
course of the ensuing year many mat,.r1l al
terations, which will at once suggest th- pro-
propriety of passing but few general laws,
ln-asmuch as they may become Inconsistent or
imperative under The new organization Ut the
Stale Government.
Special legislation is a growing evil, which
has attracted much attention amongst the
masses of the people, and TO which much
well formed opposition exists in the public
mind; indeed it has for years past engaged full
three-fourihs of the time of the General AS
IL Il