Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-10-04
iFrSn the Terrs Hsute Express CRspsl
The indianapolis Journal and senri.
mel and the state nebr.

For the last few DAYS a VERY spirited contro-
'ersy 0as been going on bttseen the Indisnapo-
ne journal and Sentinel. in relation TO the debt
OF the State L ae grounds OF difference be
tween THESE Two leading organs are as remsrkA-
Die as they are amusing The Journal argues
tibet the debt of the State Is nat legal, due on
The 18th day Of January next. the time OF the
expiration OF the contract made with our bond
holders 10 l546, bet says an adjustment should
be made with creditors. the character OF the
eebt changed, aud toe STATE Agency at New York
abolished The Sentinel, in our jadg ment. more
reasonable ano more logical, takes the ground
mat the debt Of the sttfe Is due on the 18th Ut
next January, and therefore the adjustment
shicb the Journal desires should De mace The
difference between tie two editors Is, not what
ought TO be done. ouT the tor doing il
Both admit the absolute necessity for doing the
same thing, but disagree ID the reasons why
II should be done. l he practical difference be
tween the two gentlemen, ia Just that which ex-
ist- between tseedleoee and tweedledum."
The Journal goes upon the superstition that
there are, and have been, capitalists fools
enough To invest their money in stocks bearing
tloo and 0ne-haJ per cent per anRum, when
there Was no understood time liked iCr their
payment Regarding "a SIX per cent, a par
stock. one drawing only two and one half per
centum per annum, would be worth not 10 ex-
coed forty hive cents if il bad twenty years 10
run, and it.would be worth nothing, absolutely
nothing. II II bad forty years 10 run. Hence The
only value which attaches itself TO Indiana two
and one-hslf per cent State stocks was from the
fact ths, the principal due in twenty wears
from and alter the 18th day of January, lc46.
lake away this iact-mske the period Of pay
ment indefinite, uncertain, at the will, and Ca
price and pleasure OF politicisns-snd these stocks
10 the hands OF the present holders, are worth
| less.
The Sentinel seems TO have keener apprecia.
ton OF these facts. and argues, that when the
State of Indiana issued her stocks to her cred-
tors, and agreed to promptly pay the interest on
the same, there was a reasonable presumption
that she would one day pay the principal thereof
that the debt was not perpetual loan, and
that the good faith of the State requires, - tina t
demand OF the OODdhoders OF the iuaded debt
after the expiration OF twenty years for pa ment,
shall osmet by either its payment or else re-
newal OF the debt upon {, ms v hich shall be Just
and satisfactory to the cr>cItors F"
TINS looks to Us like common sense, common
honesty and common justice, and If the editor OF
the Journal Will look oack on his files ONLY few
months ago, he will there ind he then he
lieved, that that portion ofthe debt OF the State
| expressed Ia five and two and ODe-half per cent.
stocks, falls due on the l9ta day Of January
Dext, aud must De provided tor or the integrity
| OF the St ,te will suffer 8"
The Sentinel now proposes to the Journal
that II II Wants 10 discuss this ques0n diSDassoL-
ateiy, question OF StIte policy, divested oi
partisan auImostIes, 1t can have the opportunity
! TO DO so q"
This is right, and the Journal but accept
The terms As a question OF State policy, y
gentlemen. ysu have nothing of more import
aDce 10 occupy your thoughts. Nc other ques-
lion can so effect the lu'ure good name OF In
diana. and We hope the organs at Indianapolis
will discuss il, Invested OF PARTISAN sBimOsi
ties J."