, 1865-12-11

e levied and collected and paid INTO the Stale
teasury, In the ea1c manner as other Sthte saxes
Levied collected and paid over for the year one
housand eight hundred and si1ty-Rix. and for each
nd every yFar thereafter, until The Interest and
lsnclpsl Of said War Loan Bonds and certificates
ach one hundnd dollars valuation Of inc taxable
property Of this Sta.e, which revenue, when col
cc,ed, together Mi1h all money derived from the
ale Of the public works belonging to the Ssate,
nd the net annual income from Ill such papilc
FORKS shall be denom,naied the State Debt Sinking
sund, and all such moneys art hereby set aplz1 lor
be payment OF such interest and principal exc!u-
!raMn Or poid ont OF the State Treasury for auy
,lher purpose wfstcycr, and shall only be drawn or
,ajd out Of the State Treasury ~ payment ot the
nleres: and principal Of said bonds and Certificates
,cIbed. And It Is hereby made the duty OF the
Aualtoz aud Treasurer of State, upon The payuaent
.! any f.he money arising from the provisions Of
hfs act inta he State Treasurr, to pass the same
10 the credit Of this Fund on The books Of thels |
respective Offices" |
ihc second section creatos the Auditor,
Treasurer, and Agent OF State sort OF Board
Of Commissioners for the purpose OF applying
ton towards the payment Of the principal
and interest Of the outstanding Bonds aud
Stocks OF the State, which Is 10 be accom-
p1ished as follows:
SEC. 4. The Auditor, Treasurer and Agent Of
State, shall meet tn the city Of lndian.pos ou the
ptacteab@e tn the year oue thousand eight hundred
hid sirtIr1x. and on Tho tirst Wednesday OF Ar.,,
Or ~ soon thereatter as rsncticable m eserv year
"a ter until tue whole OF the interest and ptln-
ctnal Of The debts mentioned In the d.st section Of
This t1 arr paid, and proceed Immediately 10 as
or ain as near, a. may be, the amount Of money
tie succeeding June. ruhjecl b. the proy1slous Of
Ills act 10 the payment Of the interest and pinct-
pal Of eaid dents, and after ,deduc.iug thcrcfom
a. amount 10 4aS the ,1tssl Fl Due % & said
July and on the first days ot November and Jan1-
ART ip such year, and the anarnt Of The pInios!
OF the War Lnun Bonds Offered to be surrendered
nnds the provisions Or this ac., If any, tnsj eaa
carefully determine what proportion Or Ger ceutnm
d The principal Of the Certificates Of Stock men
,oed N 5s he t s,s,s seSR st Of n ae Faa. the bi
tie Treasury will pay and they shall set apan
eeyeniy per cent Of slid balance TO ue aIplied un
The cei1iacaies Of Stock bearing Eve PEI cent per
OF SAID halance shall be applied 10 the certificates
Of stock bearing interest at the rate Of two aud
ono bali peE cent per annnm and aaid ot5eesa o.
such certificates Of stock, by publication IN two
daily newspapers published In the city ol New
York, and iWo daily newspapers published in the
The proportion OF per centum so determined upon,
setting torh Will te paid to the holders on the
prus1psl Of ench certificates OF stock, on and alter
cent Of he money On hand for The payment oi sid
per ceutum, will be applied on the certificates oi
slock bearing five per cent interest per auoun.
and that the S IsTa1s ~ ss n, Rr ns a. e s
ceutum will be applied On the certificates ot stucx
bearing two and one-half per cent PEE anuum H.
tc,eSt On the presentation and surrender nt the
oflce OF the Agent Of State IN The city OF New
York. Of amount ot the Certificates Of ttock equal
require all holders o! such certificates u stoek
OF te principal fhcrepf, to notify lhe Agent .! the
State OF Indiana al his o1ice in the city Of New
York, Of kuch desire TO accept. On Or before the
s1h dsy Of juno then ne1t, and that on failure to
give such nottce. The money viii be Apportiontd
and paid over such holders \. do give The Agent
Of state The required nonce- In ca.e there u nat
for redemption to absorb such balance OF the otate
Debt Sinking Fund then on haud hnd ect apart for
such rcaenphon Of The principal Of The certlnca:cs
f State shaA redeem any certificates Of stock init
may be offered. until The State debt einkans fund
set apart d Aforesaid shal1 be ezhausted. :.
The objections urged to this bill, and they
would seem to bo we'll taken, are that 1t does
The public debt, but that uudcr It's provisions
come ten yeass would be required to pay OIL
aud cancel the outstanding stocks-that it
saddles mn oppressive tax upon the people
already burdened with large ta1es-that It
continues the complicated, expensive and
useless machinery OF the old sinking fund aud
State agency; and finally, that Il win not
, One thing Is certain, It cannot puss the Sen
ate. even though 1t should bu forced through
The IIouse, for much better bill llas been In
trodpced into the Senate By Mr. Bradley It
was drawn By Senator Niles, and though brief
md simple, 1t shows how clearly aud fully
every obligation Of the State can be met, and
her credit preserved unimpaired without load:
Ing down the people with taxes, On account
uf its importance, and the fact that it Is not
long, ask leave to give 1t In full. It II as
follows:
a BILL to ahc1ssh the Indiana State Agency In the
CRY q New fost; !he Bosra Of a1nfiny Fapd
connected herewith, and 10 invest the rooeyr
belonging TO said fund. and the State Debt Sink.
Ing Fund, md Other fands, II The .ioeks and
eaid board Of Shining Fund Commissioners tn
The Offices Of the Auditor and Treasurer Of Stste
I'D ssc pFoae lot ne R,s q tfe r. dse
p,e>ent I've per cent Registered stocks Of tht
SECTION i. Bel endde1 lv tie Ge,,erd 4desaaols
entitled ian ad 10 provide for the funded debt O
{hc State Of Indiana and for the completion Of tht
Wnbash and ISEie canal 10 EsansvilIe, II approrrt
jnnuar, iMh. isia, and whieh reads ID follows, L
SEC. 4. The sock esca,ed pursuant 10 this ac
shan be transferable only In The CITY Of New
o5e 9ssae on oy e0a asa ss,e y aSs holder 10
boders thereof, o. his, her, or ihcir duly con.titu
ted attorneF, and in pursuance -of s1ch niles a
NJ ifsnsfe, sha al anv tImt be permftted exr1n
~ Il, t1Trr5aer and ca1ceIeut Of he onfs,andint
~ ,he indtsua Siaie renry In the riir X Es1
T"-t !. he.rhv ahn1sheA II; take efteci snnm AM
.ner liz 1st Sny of Jnnnary. 1sS7. 1N4 '>'''
| SEE 9. Tojustif5 the hist section Of this aes
~ ~. s1a,s Il - he.shr n,,dn ~ A., A.,
al the Governor, Secretary, Auditor, IN;
IIcaetS1 2. s, th Ea, :" TaEe % ~ "e engraved an'
t eAeenssu - h5 1 ,th .tr-!.1. ,s., aet.ngsu
number o. 9onas, Ell1 eonpons up . aMacasa' osas1n!
nayabie .emlannnamy sha fe1eemaolc n aes year
ifon aoo a!leI ine lsln eay =. SanuaI5. ~. O
aaho rE;oG. t,ss r. INC @ psasnsT II ?. tne a6e ann
oi 6sc hundred and one thousand dollars cact, an
otter to " aoaeIs o. r.. cent 5eSsteTe e
stocks q the STATE, TO Substitute 'hen, dollar 10
SEC. 3 II ia hereby made fhe natJ Q! sad oEfee1
Of s.ate TO pFosade eonke IN when ahall 6e kept
eoect t4iemenMi 10 o. III tas stocxs q IT. state sn
! rendered under Inc muFlelons q ms acl oy II
holders thereof toeethsT With thelf numbers, d
nominations, da.e. ano 1ne nane o. the oNncrs an
ihe aEsnt o. ati9fhey e. re sape Pc ne
registry q al ths coupon bonds 1sfned under th
Act, to whom delivered, heir number and dcnotn
nations. md the nnmoes o. coupons thereto
fashea. NJ. ,,o,l. cont.r,,,ated ~ T.. .,.rn,
| SEC = Inc eiocAs GoteHap45u 70 pe suf1e1
derca tnoc1 ne provisions @ ln5 aGt shaa p he
eeNea nno eancseo; az ano sata 9as issasa tne5 /,
4H. ~ t1E - ~ ~-s9 y. -" 4o.N4 ~ ~ II
eEcut OF slate ano fucn pessoa ot PERSONS a. Z
saosc5hof may appoMt. q any inns a!lef me ra
lAh dag o. III s1nuais; ano ps!ols me eald III day
jAhHAfy. loot au1 ianlcui1te!y attck Tue saso "a
mentioned aate, a!i ne ooo3s ana papesr 0efung1n
70 snld AGENCY, enaH PC eept to, and deposited
The ot5cr o. the Anan9s 2: ota!e. ~ aald -aeen
End ~ nc tnrMnre . oe,onstog 70 eaad agency tha
be tod " md agent. saa sne MONEYS ansins ihst
Gnm aeRnsaca ~ .- ~ ,s,s ~, - s ssGsGf =. I
s,d n stnesa shaii on1v Se - ~
na,;a. .@p de,irsred Al iie otjlce Of H. an5as
Ssa,e s%uss ~ '0s -AAe'''f
W. From nna after the 1o,h DIV of .T,r,.,
M he in,e-eft IN fbat norfi1n Of X nnhIr a
nf H. siotc c,ntemnated in lila nct sai n,1s
.rtaiou at lis connie Of The counnns ~ m. \.
ane. O. he interest due On Two and onechs1r ~ n
CENT slocks. held by tho school fund. =
SEC. q. 10 more eGer1 naljy cary ont the ,,rov,
Ions or his act, Il Is hereby made the duly nf /,
Governor Of ,be State1 Immediately amer the nss
age Of 1hi. act, and prior to the said 10th day
January. TO Issue procianat,on to the creditors
terms OF ibis net. :
SEC, Z. The Hoard Of Stnkin. Fund Coutnisstp
en- md I'll the Offices connected thecvth, arr her
b. nbolished, from and alter the div Of
| 1a-.
SEC, s. All the moneys md funds belonging TO 1,