Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1851-01-23
CONSTITUTIONAL CONVENTION.
.zr0arxD EOs rhz sr1rr SENTINEL 81 >. sorros-

s1bIecTs
iartoes referred, reported series OF sections
provdingthat negro mulatto shall come INTO OF
settle in this State after the adoption OF this Consutu
ton; contracts with negroes coming INTO the STARE 70 DC
void and persons employing Them otherwise eneour
aging their remaining in the State shall be nned notices.
than ten than $500; there shall be an annual
appropriation for the gradual colonization OF ano
mnatfOes anu their descendants, who here at the
adoption Of the CONSTITUTIONS after 1860 no negro or mu
latto shall acquire real estate except by descent the
General Assembly pass laws to carry out the Pfoss-
ions Of the foregoing sections adopted by the people
This article shall be submitted separate vote Of the
people in this form: Exclusion and Colonization o. ne
gross and nEiattoes, aye or no; winch were READ
nrst time and 500 copies ordered TO De printed.
Mr.. Wapole withdrew his motion to reconsider the
passage Of the section providing for banking on specie
basis ssre
The question then required on the proposed section
Of DIR. Smith of Ripley, as proposed TO be amended
by Mr.. Bascom referring the subject to the people;
when 81 si ta-r
Mr. Lockhart moved to refer with Instructions, that
the General Assembly shall its first session alter the
adoption of the Constitution enact general system Of
banking and extend the charter OF the present State
Bank until two years previous TO the last bonds OF the
bank dRe the profits to the State, during such ex
tension, be applied the Legislature may provide
after which period State Bank and branches may be
provided for by law, and shall conform, so lar to the
general law for banking, the General Assembly may
require.
After somewhat noisy discussion,
Mr.. Lockhart withdrew his motion TO re-eommit with
Instructions.
Thequesto now being on Mr. Bascoms amendment
referring the subject Of banking TO the people,
Mr.. Hall said, he thought the Convention was not
in condition TO act properly this question lie
would therefore move 10 refer TO committee without
instructions, to be composed equally of the two bank
parties. He thought compromise might be made that
would prove satisfactory TO the Convention and the peo-
pie.
The question was then taken on Mr. Halls motion
refer a select committee of one from each Judicial
circuit, and decided in the negative ayes a. 107
Mr. Read Of Clark moved reconsider the vote on
the passage of the section passed Saturday providing
that all banking shall be specie basis, actually paid
in; which motion did not prevail, ayes g. noes so.
Mr. Bascom's amendment not adopted.
The question recurring on the section proposed by
Mr.. Smith of Ripley.
Mr. Kgore moved 10 strike out and insert provision
providing for State Bank and branches. Laid on the
table, ayes 90, noes IS.
Mr. Owen then moved to strike the provision pro-
viding for mutual liability of Banks and insert a pro-
vision that there shall be law authorized providing
for a suspension of specie payment.
Mr. Owen modified his amendment so as 10 provide
that if Bank is established with Branches, said
Branches shall be mutually liable for each others circu-
lation.
Tbs question was taken its adoption and decided in
the affirmative, ayes lis, noes "a
Mr. Dobson then moved amendment that the State
shall have power contract loans to establish State
When the Convention adjourned.
In the afternoon Mr.. Dobson withdrew his amend.
ment.
Mr. March then moved to add to Mr.. Owens amend
nent by adding that the Branches shall be responsible
for the debts notes and engagements oil each other"
Mr. Dunn Of Jefferson moved that the amendment be
laid upon the table; carried, ayes Il noes ~.
The section, as amended then adopted.
Mr.. Walpoe moved to amend by providing, that ''the
General Assembly may provide by law Tor the renewal
Of the present loan invested in State Bank stock may
provide for and negotiate loans Of money to be applied
stock behalf Of the State any Bank hereafter In
corporated; !" laid on the table, ayes H. noes 50.
Mr. Petit moved an amendment; that the State shall
h hold Mrs fI nj
the present Bank charter.
Mr. Prather moved to amend, so that there shall not
be established incorporated in this State, any Bank
Banking company moneyed institution for the pur-
pose of issuing bills Of credit bills payable order
bearer.
Mr.. Prather's amendment was laid upon the table
The question was then taken on laying Mr. Pettits
amendment the table, and decided in the negative,
ayes 50, noes g.
Mr.. Owen moved amend by adding nor shall the
credit Of the State be given loaned in aid OF any
hereafter become stockhoder in any corporation
ISOLATION"
Mr.. Kilgore moved that the section and peRding
amendments be laid upon the table. Lost, ayes SO,
Mr.. Gootes called the previous question, which be-
ing sustained, put Mr. Owens amendment, and
decided in the affirmative, ayes 81, noes 81.
The question was then taken on the adoption OF Mr..
Pettit's amendment as amended by Mr. Owen, and de-
sided in the affirmative, ayes SO, noes So
The section then ordered to be engrossed
Mr. Wap0le moved 10 amend, so that no citizen oil a
foreign government shall either directly Indirectly be
q stakeholder in any Bank in this State.
Mr. Smith Of Ripley moved to amend, so that Bank
bills shall not be issued State stocks,
United States or State stocks laid on the table, ayes 49,
noes 81.
The question then taken laying Mr.. Walpole's
amendment upon the table and decided in the negative
ayes SO, noes IS.
TUzsDxx, January II, Is5I.-The Convention was
opened by PRAYER
'The section coming up on its third reading declar-
ing the branches Of any bank with branches shall
be mutually responsible Oreach others circulation and
that the State shall not be partner in, loan her
credit 10 any bank corporation, motion made
10 lay iE the table. Lost-ayes 50, 70. Mr..
Mcguire moved to reeomm with Instructions to strike
partner in any bank, &e., leaving that part which
makes the branches mutually responsible. Mr.. Hall
moved amend the amendment BY section, authori-
zng State Bank and branches be mutually response
beSta;e not TO be partner, except that trust funds
may be invested loan, be secured by preference
in payment Of insolvency other stsckkold-
srs. Lost-ayes 63, noes so. Mr.. Maguires also fail.
ed-ayes SO, noes 81 The section then passed-ayes
Mr. waIpole's amendment, excluding foreigners from
being stockholders in Banks being under consideration
Mr.. Smith Of Ripley offered amendment, providing
that "eyery bank established under the authority Of this
Constitution shall pay quarter OF per cent per
annum, bonus the capital stock the State, for
mon school purposes, and each bank dividing per
cent or oyel profit on the capital stock, established as
the nss Of common SCHOOLS the a Of one per cent on
the capital stock Of each branch which adopted,
ayes rs. noes 81
Mr. WalPole's amendment, amended by Mr. Smith
Of Ripley was ordered 10 be engrossed.
The section providing that Bank shall receive, d.
reev or indirectly any greater than shall be al
lowed By law to individuals loaning money read
second time; when
Mr. Mathsr moved 70 amend, 50 ths. the specie ba
offs han shall h in proDOrflon Ie0s-