The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-01-10


operations Of the Free Banking system in
his hands.
1t will doubtless be the policy Of the Leg
is ature to provide for the immediate closing,
and withdrawal from circulation Of the pa.
per, OF all such institutions as persist in the
violation Of the palpabe provisions Of hw.
In doing SO, due regard should be had both
to the interests of the people, and of the
banker, SO as to prevent undue excitement
and apprehensions on the one hand, and loss
and insolvency on the other. A contrary
policy might involve the solvent with the
insolvent. the upright man Of business with
the dishonest and corrupt.
With the state of things we have had last
year it was not possible to avoid revulsions
and monetary excitements.
The circulation of the State Bank in Oct. 1853.
Circulation in october. Is54.. s1s 90
The Stock BANK eilsaiaon July l. s;a ssss:s @
Estimated amount in hands Of bankers. not ia
''' ''''G Decrease in six s ss1as 90 g
Tie precise amount surrendered ut the AUDITORS
ONCE up to Isl jan. 1855. "a AS 90
Here we have withdrawal from circula.
laton in twelve months, and the greater
part in four months, of S., 766,I23 90, or
called money in the State. More than three
millions OF this circulation is deprecated;
| its value being at the mercy of the broker
and SPECTATOR. The same facts, in regard
to the decrease OF the currency, are true, al
though perhaps in less proportions, in the
adjoining States with which We have COM
mercIal intercourse. How can any people
have stability under this state of monetary
affairs!
We shall always have revulsions, expan-
sions, rontracions, and arrangement in the
whole business of the country, so long as we
foster any system that makes promises to
pay, money, instead of gold and silver. II
the interior circulation were this day with
drawn, have no doubt we should find suf
| hcent amount OF the constitutional curren-
cy among our people for all ordinary BUSH
ness purposes.
We have not only a deprecated currency,
issued under the Authority of law, but we
have depreciated currency issued by rail
road, plank road and insurance companies,
without the authority of law. Thousands
of dollars VI this latter kind Of deprecated
paper have been thrown into circulation
and left to REPRESENT an uncertain and vari.
able value in the ordinary transactions of
business. The credit OF the State, and the
interests of tie people, demand an abate-
ment of this evil.
No subject Of Legislation is calculated TO
awaken more pleasing anticipa ions for the
future than our system Of popular education.
Indiana. under the auspices OF her new con-
stituiion. has, upon the subject OF edscativn,
adopted a system that has comma nded the
admiration of some of the older States Of the
Union. Let US, by the most lidicious cosrse
Of legislation, prevent a retrograde move
ment on she part of the State, with re-
spect to ihlSyery important interest.
| The recent decisions Of the Supreme
Court, on the conslitutionality of the consol-
dation Of the ayails OF the school sections,
ard on the townshiptax for school purposes,
while they have settled those questions in a
manner satisfactory to the parties that raised
them, DE- not, in the least degree, disiur b the
broad basis on which our system of public
instruction rests.
| IL will be task worthy Of the exercise Of
your legislative wis ON, to correct, by some
means within the scope of your legislative
powers, the inequalities caused BY the first
decision, in the annual avails of the local
funds. In the distribution of the general
fund raised by the school tax, it is believed
that the desired results may be obtained as
readily as they could have been accomplished
had the decision been otherwise.
| I've second decision, as understand its
int 0ft and application, confines the power
and limits the responsibilities of raising
funds, for purposes of adequate and general
public Instruction, to the Legislature alone.
Tie restricting of the exercise of this pow
er, and the limiting of its responsibilities to
the General Assembly. will produce the uni
formiiy contemplated by the constitution. II
is not believed, however, that the Supreme
Court in deciding the unconslituionality OF
the township tax, intended to declare that
the people Of the several tow nships are, BY
the constitution, deprived OF thAright OF tax
alton for the pu pose of buhding school
houses, and furnishing apparatus furniture,
and fuel for the use of the public schools
They mean, by the construction they place
upon the word 'uniformity," as it appears in
the constitution, to convey the idea that the
tax levied for purposes OF education, and to
be applied in the payment OF teachers, must
be levied by the Leg stature. II, however,
} they intend TO uPply the principle vi the de-
cision to all the details of the municipal reg
: uations of the school affairs of townships
and towns, the interests of education impe-
J riously demand an early amendment to the
. constitution. In order to secure efficiency
in the operations of any system of public
instruction, the action Of the people, in
townships and in district organizations,is in
dispensibly necessary.
cannot, for moment, suppose that cor
porate towns aud cities may be invested,
const,tutionally, with the power necessary to
, manage their municipal affairs. according to
: their peculiar circumstances, i'm every de-
5 partmeEt of local interest. excepting orly
= that most important Of all interests, the edu-
: caiiun of youth. 1t would be ruinous pol
| fat. al al