The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1858-01-15

been reduced during the past year by
tho pay ment OF tl09. .207. 90, derived
chiefly from the premium of the loan
Of $500, 900 negotiated 10 discharge the
nmoun, which became psys able after
1854. or the remaining debt, the sum
Of Q. .<l3,525 ~ will become pay able
al tho pleasure OF tie State al any iins
af,or the 3Ist OF December, 1850. The
terms OF this contract exclude the idea
Of obligation TO pay at that time; but i,
will doubtless be the pleasure OF the
State to poy very large part, IL not
tho whole OF this debt, as soon rs the
right to pay shall accrue. The proceeds
Of oil public property which may be
sold, should be excidsiveiy devoted 10
this purpose. and provision should be
made, IL q moderate additional levy
will eaee, the object, Of 9 sufiicien,
uln TO discesrge at least ons.,hird OF
the amount.
The residue may be distributed over 20
many OF the following years a. will bring
its payment within the reach OF moderate
ta1stion, OF immediate payment, il preferred
by the creditors. may he made in new bonds,
bearing q less rate OF interest, and payable
.suen t'nies as 'he oeneisi assembly may
&c .s Nv u.ec.' Chue' al cmSumsAnces, M
.punctually paid, and the credit Of the State
maintained inviolate. | do not doubt that
the people Of Ohio will cheeffully submit to
any not excessive taxstion,i ,if assured beyond
,persdventurc, that the proceeds W i'll be hon
e',.y a"u pGn..uany spp,,eu IN uiscnoIseol
uoo.' 'ue .n.I'1n o' wmen oohs'.ues 80
au a"nua' ' u's'' upon .hei' u'.es
T.e Tne iaws equ,,e tne appo,n,meu. v y
Ii ,ans,e, ,,,,.n ssehs auu nes's a' New ,o,h
anvs,. ono ~ ;n..e, ~. =, S'osNs s Anu ,ne
" r ,s' anu ueo. .nIougn lhls
sen sJ,,r na,..,s.n .nch q. necs.s.,;Iv ves,ed
in ,hs.e ofI;cer,' to nerson, bryond The iur.
;.d;c,,on nj ibe STATE and NOT am.ndabir IN
N, lsus. n obligations assumed At the
cy.,t;on of the d.bt and a a mari of IL, con .
,ide,,t;on. r,ouire their nnpointmrn, and
maintenance. these oblirations mast he full.
6lled in good faith. If Il be otherwise. the
oiIlcea sbouId he sbolished. and aIl transfer,
shoulJ be made within the state. and nnder
the direction of its Execu,iye ofIio.rs.
commend this subject TO legislative consid
Grafton and Investigation.
LAW PRorosEp.
res,nes,lv recommend the Yepe,i of IN,
q, aiIowiny contracts for interest AT len ne,
cent The iey.I;vat;on of sucb , ra,e ~ In,
tres, enables the monev.a csns.al;st ~ ah,
sorb fsr too large A sboYe o( The earning, q
m. farmer IN. mechan;c anI the meYchan 4
Il often takes the whole and sometimes NOR,
than IN. w hole. II NAV he. ns some think
that the lnw a, I. .tood nr;oy In ,h,t ac
would he improyed by the ,ubstitution o
IN a rate of seven ner cent. in Mace of IN,
old ,ate of six n.r cent. Whatever rate n
oI interest NAV he snnroyed. / resnectTull,
suggest that il should be uniform. aut
le sIIoweJ IN all nersonx. whether nat
nYai or artificial. alike. and that ali con
tracts for a higher rate ,by wbomsoeyer mao,
should be deemed and held slike null an,
void. unless enforced, with simple interest
for the benefit of educational or beneyolen
Institutions Discriminationsb between elias
So, of lenders, tempt TO fraud and almost I'M
iformily fail Of bene fetal results. In thi
: connection, your attention may also be use
fully given to the various devices by whic
bant ing institutions seek to eyade statuar
Limitations Of interest, and to the proyiso
Iof more effectual guards against such eva
''''-' "'''"'' - 800 "' '''o"
VI lne seseIa' amenume.'S ,.. S VI .ue So"sl'
o. p'ops: ~ %
ssner., .iec,ion. none received the snfTrays
of A majority of ali the electors. | do no
regard his result. under Ali the circumstnn
ces- a, a decided verdict. stili belieyinp. IA
reasons heretofors fully assigned. that An
nunl Seasons are necessary 10 The nrope
care and security of the public interest: nm
that sinrle Senatorial and and Representu
tive Districts ale indispensable to a true e.
preston of the popular will in legisIativ
action. resnectfuily recommend anotbe
submission to the people amendments pro
yiding for these important objects. / con
fine this recommendation to these amend
lments, because I regard them as most desil
! 80 "a i------ -o---:-..- -a~~,- - ,.-.
to ieceive 'e popular sanction.
~ the reports required to be printed an
laid before the General Assembly at tn
commencement OF It's session, those Of ii