Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1857-01-15


inha biIants, is believed to be less thar
the ordinary annual expenditures of am
Of our sister States.
Among The first subjects which dema nd
your prompt attention. is that OF provid-
ding. by law. for the reappraise me n, o The
tiauded propertys 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 accordsncef with the provisions OIL
the charter Of the State Bank OF Indiana
its corporsie powers will cease on the
first OF January. lS5s-the Intervening
two years TO be occupied 10 winding ur
and liquidating its affairs. Tile State. as
jUint owner. is deeply interested in the
safe and successful closing up ofthis in
stitution. In the main, il has been man
aged with prudence aud sagsci,y, and
with view To the profits Of the stock
holders. and thu general interests OF tie
people of the State Few institution
OF the kind have enjoyed, SO generally
the confdeucs of the public. In its OF
ganization, the rights of the whole people
were secured; tho provisions Of he char
ter. and tha practice under il, stfictiy
guarding sgainst every species of "a vorit
ism. Books for the subscr piion of stock
were faithfully kept open for the space
OF thirty days. fortunately for commu-
! nifty. aud the mansg- meat of the corpo J.
rate powers Of the Bank. much of the
stock wasidken, in few shares BY our own
farmers mechanics. and merchants. 1t
commenced its operations therefore. an.
der the auspices OF favorable public
sentiment. and has experienced through
out lis career. instead of hostility. the
most decided marks of frieusship and
good will ct the hands oil our citizens. =
Like all banking corporations, however,
IL has had Us favorites in many portions
Of The State. and has been. in many re-
spscts assple ndid monopoly.
! IL will be seen from communication
from be President which is herewith
transmitted. that the interest Of the STA te
in the Bank. upon the final closing up OF
It's concerns after the payment of the
bonds issued on account of the capital
stock. will. in his opinion, if prudsntly
closed up. amount TO q sum of near iwo
millions az dollars Efforts will be mate
TO divert this vsst fund from its appro
pirate channel, aud, in some manner 10
control it for the promotion of private
interests. In an,icipa ton os such ef-
fnris. il is earnestly recommended ihst no
sale. or transfer, of the interest of the
State in the Bank shall be permitted.
either 10 individuals OF corporations
The charter conf~rs simple power.lsnd
defines the particular mode in which the
sffaiIs OF the Bank shall be closed. Its
cspital is to b- converted into cash, and
the part belonging to The State. paid to
the Sinking Fund Commissioners officers
OF your own creation selected lrorn The
whole people. and heylng no connection
with the Bank, either as Stockholders OF
borrowers. 10 be b, thrm invested. as The
| law may direct. tor the purpose of Com
mon School Eiuca,ion. A fund so sa-
cred. and for purposes go bene 6cisl 70 the
people OF the State. should be. forever
preserved inviolste. II should no; BE-
7
vlduals or used to augment The powers
or swell the Golfers OF any corporate mo
I nopoly. n8
The present mode Of investment of The
! Sinkju Fund is chiefly in mortgages up
nn the sesi estate of our cItizens. The
facilities afforded Tor borrowing money
J create q spitii of speculation. often ter
mlnaling in bankruptcy and ruin To the
borrower. The long Isis oi lands forfeit
ed to the Fund. for the noo payment o.
iincipal and ini-rest. siman shes US tt
seek Tor some other mode of inves' meni
winch shall be equally safe and ptoiuc-
tive. ttave repeatedly suggested. aud
, now r-new the recomm~ ndaiion. that the
Sinking Fund Commissioners should be
authorized to invest this Find. from
lime TO time as il NAV accumulate IL
heir hands in the Bonds OF the State un
der appropriate Limitations. us To princi
pal and market value; TINS changing lhs
rhsrscter of or obligations, from for
~ign To domestic debt; The interest up
on which. when collected from our ows
people. shall be inmediatel, reimbursed
10 them in the accomplishment OF iha
high and mostsnnobIing object of bnmst
government. the education Of our youth
II is high trust and will be most tru',
| performed. when shall connect the ed
uca,ion or nur children with the chsrac
strr.g integrity and honor of the State. =
! In III IS msnnner. Of least one third of npr
v hols foreign. indie biedness may be; 40;
sorsed; thus lrssening the burdens of the
people. and +levating the financial char.
scfer of the State. - ts1ae ~
The entire snount Of the Funded DEBT
Of the State. Outstanding. is stated BY The
/ Auditor of State. as follows:
or Ner cent State Stock IS l56 soc
fO(2l per cent. State Stock = 6l2 571
To.sl. lssb d a@9- Sc 969,077
| The market value ofswhieh. e>tmsiipl
ihe 8 per cent at.eiehty four cents. and
the IL per cent. Mt sixty cents npof
| the dollar. would be the sum OF s54l9,
/ O0O6 saI p #cs1sr - sne .tsaa
+ To show the practsbilitv of'conversin,
tlais foreigl debt into a domestic one. ,h'
following table ii. Complied frgm the re
port Of the Superintendent of Public In
st,uciion. aud from the commnnica,iobo
the President Of the Stale Bank fsesa
+ rxHlBir OF coMMos SCHOOL FUND q
rR