Marshall County Democrat. (Plymouth, Ind.) 1855-1859, 1857-01-15

rest in their domestic interests and MIR.
suits-loeking for good, where many have
prophesied only evil, and determined to
sustain the right, by whatever hand it is
administered. In like manner gentlemen.
may the excited discussions in which Won
have, elsewhere, participated, be forgotten
IN the eagerness and unity with which YOU
here direct your thoughts and efforts to the
security and advancement of our domestic
prosperity.
ltatfords me pleasure 10 say that, during
the past two years, the general condition Of
the State has been that of peace and pros
perity. All our various interests, agricul
tural, manufacturing and commercial, are
in prosperous condition; our State main
tains growing and commanding position
among her sisters of the confederaey; the
laws, with their benign influence. are re-
specied among our people; and though du-
ring the past year. the agricultural inter-
ests OF some portions of the State have
suffered from the drought of the season,
yet we have ample cause to render thanks
to experimenting Providence for the in
Vulnerable blessings which have been be-
slowed on our land and people.
The first subject that demands the con-
sideration of the Representatives of the
people, is that of the financial condition of
the State. 1t is gratifying to know thai econ
omy has been observed in Your public ex-
penditures; the interest upon your public
dob, promptly discharged. and the reduc.
ton OF the principal not overlooked.
The amount of the ordinary expenses of
the State Government for the year ending
October 81. 1855. was S147. 442 81. The
same, for the year ending October 81. 1856.
was $50. seq IS. The excess Of cxpendi
ture for the year 1855, over that of 1856,
was caused. mainly. by the expenses of the
Legislature, and matters necessarily con-
nected Herewith. The expenditure of
$50. 522 SO, for the ordinary annual ex
penscs Of government, of more than one
million four hundred thousand inhabitants,
IS believed to be less than the ordinary an.
nual expenditures of any of our sister
States.
Among the frs. subjects which demand
your prompt attention, is tina. OF providing
by law, for the re-appraisement OF the Ian
ded property, for taxable purposes. The
propriety of this is SO manifest, that trust
your early action will enable the county
officers to commence this work before the
expiration Of your session.
In accordance with the provisions Of the
charter OF the State Bauk of Indiana, It's
corporate powers will cease on the first of
January. l859-thc intervening two years.
to be occupied in winding up and liquila-
ting its affairs. The State, as Joint owner,
is deeply interested in the safe and success
full closing up of this institution. In the
main, it has been managed with prudence
and sagaci.y, and with view to The profit
OF the stockholders and the general inter
es:s of the people Of the State. Few IN
stitu;inns of the kind have enjoyed, SO gen
orally, he confidence of the public. In
its organization, the rights of the whole
people we're secured; the provisions Of the.
charter, and the practice under it. strictly
guarding against every species of flyosit-
ism. Books for the subscription of stock
were faithfully kept open Tor the space of
thirty days. Fortunately for community,
and the management Of the corporate pow
ers of tie Bank, much of the stock was Ia
ken, In few shares. by our own farmers
mechanics and merchants. 1t commenced
its operations, therefore. under the auspi-
ces of a favorable public sentiment, and
has experienced, throughout lis career, in.
stead of hostility, the most decided marks
of friendship and good VII al The hands OF
our citizens Like all banking corpora
tons, however, it has had is f,yoiites in
many portions Of the State, and has been,
10 many respects, splendid monopoly.
1t will be seen from communication
from the President. which is herewith trans
! misted, that the interest of the Safe, in the
Bank, upon the final closing up Of its con-
Germs. after the payment If the bonds is
sued on account of the Genital stock, will,
in his opinion, if prudently and safely clos
ed up. amount to a sum OF ilear two Mill
ions of dollars. Efforts will be made IL
divert this vast fund from It's proper chan
nel' and in some manner, to control it for
the promotion of private interests. Imam
ticipa;ion IF such efforts. it searneslly rec
commended that no sale; or transfer, of the
interest OF the State in the Bank, shall be
permitted, either to individuals or corpora
tons.
The charter confrrs ample power. and
defines the particular mole in which the
Affairs of the Bank shall be closed Is
capital is to be converted into cash, and the
part belonging to the State. paid to the
Sinking Fund Comnsissioners-office OF
your own creation, selected from the whole
people. and having no connection with the
Bank, either as stockholders or borrowers,
to be by them invested, as the law may d.
rect, for the purposes of Common School
Education. A fund SO sacred, aud for
purposes so beneficial to the people Of the
State, should be, forever preserved invio-
late. 1t should not be permitted to tempt
the cupidityof individuals. or used to aug
rnent the powers, or swell the Golfers Of any
corporate monopoly.
The present mode Of investment of the
Sinking Fund. is, chiefly, in mortgages on
the real estate of our citizens. The facil-
lies thus afforded for borrowing money
create spirit of speculation. of.en termi-
mating in bankruptcy and ruin to the Dor
rowers. The long lists of lands forfeited