Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1850-11-28


the measure of the people, and their represen
tatives. But the present had useful guards
thrown around it, and he could not curb the will OF the
people, by preventing them from exercising that will
should circumstances hereafter require IT,
The discussion continued by Messrs Morrison of
Marion, WalpoIe and Owen; when
Mr.. PEPPER Of Crawford, moved 10 amend the orig
inal section by adding provsO that debt shall be in,
Cured for system systems of internal Improvements
Mr.. Dunn of-Jcferson continued the discussion and
moved the conclusion of his remarks that the section
and amendments be laid the table; which motion did
not prevail
The question was then taken on Mr. PEPPER Of Craw.
ford's amendment. and decided in the negative
After remarks from Mr.. STEELE the question was Ia
ken on Mr. ALLEN's amendment, providing that debt
shall be contracted except for deficit in the ae-
count; which was adopted-ayes Ga, noes So.
Mr. HALL moved amend, so that ssnothing in this
section shall be construed prevent the General
Assembly from taking stock in State Bank, and provi
ding means therefor
Mr.. BERRY move that the amendment be laid on the
table; which motion prevaed--ayes Go, noes 90.
Mr.. Dunn of Jefferson said that whenever a ques-
ton arose between State Banking and well regulated
system OF Free Bankins he for Free Banking; but
ne was opposed to restricting the State from contracting
debt for internal Improvements, under all circum-
stances. He was now opposed u going into debt as
Stae but circumstances might arise. in coming wears
that might render necessary; and he predicted should
this section be adopted I've more unpopular
in twelve years than the system OF 1885, odos as it is
1t might be to the advantage Of the State in coming
years purchase OF the public works, in order to
State is refused her credit The State has the
right to purchase the Madison road; and, as great
trunk road it might be her interest to do it but this
cannot he done ii this section is adopted in its present
shape At late hour the Convention adjourned
FRrDAY, November %, ls50-The Convention was
opened by prayer, by the Rev. Mr.. LONG
The following gentlemen appointed committee
of one from each Congressional District, to which
referred the section prohibiting negroes or mulattoes
from coming into and settling in this State holding
property to.wit: Messrs. Kent, Owen, Holman Rari-
den, Mcguire, Dobson, Stevenson, MFarland, Niles,
and Howe.
The order of business was suspended; when
Mr.. RARrpEN offered resolutions paying handsome
public services Of Col RICHARD Nj JOHNSON, recently
deceased which were unanimously adopted.
The Convention resumed the consideration Of the SUBJ
ject of public debt; when
Mr. WOLFE moved to strike out the section and in
provision that debt may be permitted payable
in twenty-five years. where the interest is provided for,
and where the same has been submitted to, and ratified
by vote Of the people.
( Mr. WOLFE said he had been considered in some
instances RADICAL in favor of reform; but on this ques
ton, he thought gentlemen going too far. He had
been in favor of the restrictive feature in the election
officers. That different principle from the pre-
sent-that restrict the oiicers-is proposition
was restrict the rights of the people.
Mr. KINLEY was opposed to public debt, and would
vote against the amendment.
Mr. SMITH of Ripley said, that had not the Conven-
ton already determined previously incur debt
the speech of the gentleman from Jefferson, Mr. Dunn
on yesterday would have convinced any that debt
should not be ineurred That gentleman had conended
that il might he to the interest OF the State to buy up
of public works and had referred to the Mad
son road work that might be purchased. All he
had to remark was that after the completion oil the
Jefersonve road would be much more TO the inter-
est of the company sell, than for the State
He referred to the White Water Canal and arrest
of the sale of that work by the Of the governor
He also referred to the Wabash and Erie Canal, and
the disposition there might be hereafter buy out or
redeem that work. He wished to close up the door
against any such Indebtedness, which might by
bnation OF circumstances, hereafter be created.
Mr. RARIDEN denied that any such combination could
ever exist With regard to the White Water Canal
Company, that company had first offered TO sell out their
interest to the State half the sum they had expended
and in the second place. had agreed to give up all their
rights, if the State would keep the canal in repair only
looking for such remuneration might be thought Just
by the Legislature He thought it utterly impossible,
that debts could be created under the circumstances
pointed ont Icy the gentleman. So far the purchase
OF any particular work was concerned could de-
termine what should be DONE He was not in favor of
preventing the free action of the people, Twenty
years might make great changes
Mr.. PETIT made half hours speech, in which he
assumed the position the argument of gen.
temen,that to withhold power from the people
t-democratc,- Constitutional restrictions not
only consistent with pure democracy but that restrc-
tons absolutely necessary carry the great
democratic principle equality OF political rights. The
establishment of Courts and other features of govern
ment were restrictive principles, yet their object
tended to secure equal privileges. Gentlemen will
hing to restrict in every thing but moned matterste
very thing in his OPINION that needed the greatest
strctons Had such restrictions heretofore existed the
condition of the State would have been far different No
charges of reputation would have sneernoly
made against u.s. that have, times past made the cit
of Indiana almost ashamed of their State when
absent from its borders.
Mr.. MCFARLAND said, there appeared TO have been
almost an unanimous feeling in favor OF this restriction,
until the Bank tocsn of alarm was sounded Efforts
had been made. last night in visiting from to room
to make this question of State Bank No State Bank
He prepared to show that this was not necessary
issue. There sinking fund of million aad half
of dollars, which to establish State Bank if it had
not been squandered. But if all hand there was
at least considerable sum but admitting that this
fund had all beeh sqlandered it not necessary that
State Bank should have any State Stock in it. The
State of Ohio had institution of this kind, without
that State owning dollar OF the stock. He then showed
the amount of Bank capital in the United States, and
the amount borrowed by different States for banking.
Kentucky had borrowed two millions Illinois had bor-
rowed three millions which virtually lost Indiana
had borrowed million and half of dollars; but here
in consequence OF the existence of the Bank million
had been lost to the State effort to extend the cap
ita Not that it lost in the legitimate business of
Banking; but it was lost consequence of the existence
of the Bank Tennessee had embarked three millions in
Banking; which is nearly all lost He then on in
like manner, show the effects OF Banking in other
States all going to show. that his opinion, this should
not be left open question for the sake of the Bank
Mr.. OWEN said, that there would he close on
this question: and great efforts would be made reverse
the decision of yesterday He then took up the bill of
rights and its restrictions. The right of all to
worship God in the manner they might think proper
There were denominations In this State, who had great
power but it would not be claimed by any one, that
their particular views should be submitted to vote of
the people, in order established religion
So with many other restrictions he enumerated He
said, that there no clearly defined position on
the part of the people, than that there should be no
public debt, and he hoped that the public will would be
carried out.
Tho d;sones;on ,-ae oont;nnad nv NJassre u.nnox