The Plymouth weekly Democrat., 1865-03-23

Among the important bills which passed
the House of Representatives of this State,
but which failed to pass the Senate. are
the following:
The soldiers voting bill, the White
Water Valley Canal bill, to enable the
Government to pay into the State Treas
ury balance of about SIG, 900, received
from the United States on account Of mil
itary expenditures, bill to pay the
States indebtedness to the Sinking Fund,
and bill to authorize the Commissioners
Of the Sinking Fund to inrest the money
in their hands, being over $500. 900 in
amount, in stocks of the State. The loss
of this bill is public misfortune, as
there is no other resource than to distrb-
ute the fund among the counties, to be loan
cd out, while many of them report that they
connot find borrowers for the, small amount
of school funds now in their hands--M
& Repv5licon.
We invite attention to the last sentence
in the above editorial of our neighbor.-
The bill referred te authorized the invest
ment of all the n0lcy n hand in state
atocls, and by its terms must In short
time have compelled the withdrawal from
the several counties of all the sinking
fund in their hands, fW the purpose of
placing it under the control OF few mon
eysharks to speculate with III the indebted
ness of the State. Indiana two and half,
and five per cents. are worth from 6J TO
so cents, on the dollar, and the bill au-
thorized their purchase at par. An aver
age of at least 33 per cent. on the amount
on hand could easily have been made by
few sharpers under the operations of this
bill, thus putting at least $1,000 into
their pockets; quite a nice little affair
truly. The Republican says. there is no
other resource than to distribute the fund
among the counties to be loaned out. 1t
may be "a public misfortune" to have 4
few thousand dollars in the county to be
loaned out at seven per cent. but We imag
ine the people OF Marshall County can't
see it, Then the assertion that in many
&C the counties of this state borrowers can
not be found for the small amount of
school funds on hand, is mere bunkum. a
simple device to catch the unwary and
cover up the iniquity of the proposition.
If it is "a public misfortune" that the
sinking fund treasury is 50 plethoric,
tina. the officers do not know what to do
with the money. we should like to know
how it is .importaat" that the State should
pay off the debt it already owes that fund
and then have the officers turn right
around and re-invest the money in the OBJ
legations of the State again, unless it was
intended to enable somebody to speculate
in these transactions
Our Deighbor also thinks thai 1.-The bill
to enable the Governor. to pay into the
State Treasury balance of about SIG
900, received from the United States, on
account of military expenditures, was
important" and should have been passed
By the Legislature, but he neglects to in
form his readers that the same bill also
"cnabled he Goeernor" to take out Of
the Treasury tie sum of $3.50, 600 to pay
the United States, money illegally bcr-
rowed by the Governor. The money was
procured in violation 81 law, expended in
violation of law, aud to have passed the
bill would have been a full Endorsement
of all the arbitrary unlawful ead revolu-
tionary proceedings o. 'tLe sGovernor"
for the last two and a half ye rs. It may
be ''important" to the State to "enable
the Governor or any body else to pay in-
to the state treasury $4,000. but if the
enabling act authorize him to take out
$3.50, 600 on the same account, ne do not
see how the State is to be benefited by
the operation, perhaps the Republican
will enlighten us on the subject.