Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-01-24

that We had, By the BILL proposed. to pay inter
est compounded upon interest. AZ a higher rate
too, than the Law allowed, to the distinguished
bankers aforesaid.
Gentlemen say ne are disloyal unless We agree
to pay this interest-this usary-lhis usance.
They say the fair fame vi the state. as regards
her honor ss a debtor, was in jeopardy when
Messrs. WinsloE, Lanier L Co. stepped forward
and redeemed her. AS be had SAID Lenier was
a lawyer. aud knew the general principles Of the
Law "a applicable 10 the statutes Of Indiana. Gov.
Morton. If he did not know The Law. knew the
statutes, for be signed them. Particularly did
bis exeellency indorse those relating to embez
Element By public functionaries. Morton and
LanIer agreeing IN this regard. Lanier could not
come ~ here, p~articeps erirRiRis, and claim bene-
fits with his confederates in crime. This, to be
sure, was only speaking technically. but in force
and effect the words would stand. Lanier had no
right TO plead the equities of the transaction.
Winslow, Lsnier 4 Co. knew the constitution,
knew the law OF the state, and therefore they
knew that the governor had nothing to DO with
this matter OF interest one way or the other.
There is the statute, which SAYS not one single
dollar shall be used or Appropriated in any direc
ton by any functiOnary without the treasury
having been previously drawn upon by legisla
tive action. Yet this governor and these bank
ers attempt TO set this law, solemnly enacted by
AAN k11EA1 : n I 0l4A1 Il LII
governor and Winslow, Lanier 4 Co. knew, be
repeated, that there was no legal provision for
what they did, and if Winslow, Lanier & Co.
took receipts for their alleged payment Of inter
est, they or their a~ssignees hold them to-day, for
they had mover been surrendered to any author
lied agent of the state 10 his official capacity.
Besides. WinslOw, Lanier 4 Co. knew that if
Gov. Morton should csll an extra session OF the
legislature, all appropriation bills, relating 10 all
] puhlfp debts unuld ha nasaad The Testimony
OF the most unimpeachable men could be pro
d uced TO show that the democrats, members of
the last legislature, bad pledged themselves TO
pass all bills requisite to sustain the honor and
credit of the stats. The preteAt for boiling,
then. was the military bill. The peoples repre-
sentatives introduced that bill, and it was not for
any officer, be he governor or not, TO step in be
tween the people aud their authorized agents.
Gov. Morton, and those who backed him up in
the House. were not elected for this purpose.
Even were it true that the peoples representa-
tives desired TO take power out of bis hands, il
WAS not becoming or legal for shin to object. He
was simply a servant of the people. be was
simply a servant OF the peoples representatives
He was simply our servant to do our business &C
cording TO the constitution and the laws. aud
when he went beyond that he was al unqualified
nuisance, Mr.. Speaker What time were con
stitutions made for 7 Not, certainly, for times
of peace, because we then all get along swim
mingly. But for times of commotion; tor times
of war; for times when the passions OF men
trample everything sacred under fOot-taese
were the times for which constitutions and laws
were made to be respected and obeyed Like
the dews of Heaven, their blessings fall upon all
alike. Stronger than an army with banners,
administered by righteous officers, is the still
small voice OF every citizen reverencing the law
and before it all physical power must succumb.
/ The lau and constitution state and national
these constituted the sheet anchor of our hopes
When Governor Morton OVERRIDE the constitu-
ton, and the claimants under this bill helped
him 10 DO IL. each and everyone were parficeps
criminiS-were fragrant criminals, and it came
with a bad grace for them to appeal 10 Us to sid
them in their illegal project.
Winslow, Lanier & Co, deposited the none,
to psy the interest on the state debt in their OWL
name. and not in the name of the treasurer oil
the state Indiana.
Therefore, Winslow. Lanier & Co. colld
Withdraw that deposit at any moment they saw
fit. Yet they came here TO-DAY, and asked u
to allow them more than legal interest. in th,
regard, although, they were not entitled unless
appropriations we're made BY law. The Treasurer
could not move one single dollar out of th'
vaults of the state unless upon toe warrant OF
the auditor. The executive was like these of
fcers. bound by the law as interpreted by oui
courts.
This debt il not due to Winslow, Lanier &
Co. They had the money in their vaults. Mat
L Brett holds their paper. Winslow, LanIel
( Co. hold the money. Brett held their vouch
ers. If therefore. you appropriate the money
appropriate it TO the right men Winslew, Laniel
& Co., were not the right men, Mathew l.
Brett was the legal holder of the assignments OF
that debt. If the governor, two years ago haC
called an extra session of the legislature. al
this difficulty might have been avoided. Blu
now NJ. l.. Brett. Winslow, Labier & Co ane
others, came here and demanded seven per cent
and interest upon interest, when il was we'll un
derstood that a sovereignty was not bound tC
pay interet, unless an actual agreement was
made. If this interest was to be paid, it mus
be paid TO the individual who holds the legal
vouchers, and not to the persons mentioned in
the bill.
Mr.. Newcomb replied. defending Gov. Nor
ton. He would not only defend what he hac
done. but be would vote him thanks therefor
The people had sustained him. They had sent q
House of Representatives here 10 sustain him
and, God held rs, We would do it
Mr.. Newcomb proceeded, arguing the question
at length. He indicated Gov. Morton for no
calling an extra session OF that sort of a legisla
ture. upon the ike of which he hoped the stat,
never would look again. The gentleman con
tinued in ertenso in favor Of WiBslow, Lanier 4
Co Gov. Morton. NJ l. Brett, and ali partie:
concerned in connection with the bill. We were
bound, be insisted, il honor to meet Lanier
Winslow & Co.'s debt. We had pledged III,
good faith of the state TO that end. Ii was an
acceptance. on our part on honor. This is tn,
highest obligation. as every commercial lawyel
would say, knogn TO the law merchant. Their
We accepted our paper TO save our honor. Wins
low, Lsnier & Co paid out for US what would
be regarded by most OF Us "a liberal fortune
They had paid out an immense sum of money
This showed a reliance on the honesty and gooC
faith Of the people of the state which should no
be disappointed. They had advanced money
which had prevented the calling together of h,
last legislature-a legislature which had at
tempted to deprive the governor of his |constitu
%tutional authority by a military bill. &c. He
Mr.. Newcomb,) to use a cant phrase, could
not see the policy of calling back that legisla
ture.
He did not propose to indorse the decision o.
the supreme court in this regard. The law never
contemplated any such decisions as had been rem
dered with reference 10 the state treasurer by tina
tribunal.
II was not only equitable but legal that inter
est upon interest should be paid on this debt
Governments ALWAYS went upon the ~assnmptio
that they would pay just debts when due. ",
have agreed TO paw this interest at the rate of q.
per cent. per annum BY the statutes of this state
we are Just a. much liable to pay 6 per cent. pet
annum as We are to pay | per cent. If 10 day i
were possible for the state TO be sued in her owl