Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1867-01-17

fully establish and maintain College upon
the broad and comprehensive plan contem-
plated by Congress. The States
became rival vendors i'm the market, and
all of them competing directly with the
Government, which cannot sell land in the
regular way at less than 81 % per acre.
The scrip already sold by the several
States, has. with few exceptions, been pur-
chased in quantities by spectators, some
of whom will enter and hold large bodies
of land to I've made valuable by the settle
ment and Improvement of other lands
around them, and others will retail the scrip
In small quantities. at a price greatly all
vanced over what they gave for it, but still
undersellng the Government. The reas-
on why the States were not allowed to 10
cate the scrip was because il would create
a monopoly and enable them to hold lands
in perpetuity; but no provision was made
against permitting the spectators who pur-
chase the scrip. at less than half its value.
from doing the same thing. While 1t was
not so intended, yet it has turned out that
no better arrangement for spectators
could have been devised. If the States
had been allowed to locate the scrip. the
land. as soon as entered, would have been
worth. To them, 81 - per acre, and they
might have been required, upon pain OF
forfeiture to the Government. to sell the
same within four or SIX years, thus avoid
ing the danger of monopoly and perpetuity.
and enabling them to realize. at least, the
par value of their scrip. AS the matter
has turned out, it would have been much
better for the State and the Government.
ii the Government had donated to each
State, the same Lumber of dollars. instead
! of acres. Indiana would thus have receiv-
ed three hundred and ninety thousand dol
lars; and the Government have retained
three hundred and ninety thousand acres O.
land, which could be sold AT ! % an acre.
The Board of Trustees of the Agricul-
/ tural College. created by an act of the Leg
islIture. at the regular session OF 1860,
memorialized Congress at the late session,
! PRAYING that the law making grant TO the
States be SO amended as To allow the States
To locate the scrip. under such regulations
and restrictions ms might be deemed proper
TO prevent monopoly and perpetuity. But
| Congress took no action on the subject
| The memorial is herewith laid before you.
The Board of Trustees have had a num-
/ her of meetings. To consider what DISPOSE
ton should be made ofthe scrip, and, in
view of the fact that il could not be sold
without a sacrifice of nearly two-thirds of
its par value. which would realize a sum SO
small as To be inadequate to the accom-
I plishment ofthe grand purpose which Con-
gresS had in view in making the donation
unanimously resolved 10 withhold il from
! the market entirely. and submit the whole
+ subject to the action of the Legislature.
! They have made report. embo,lying the
iions. which | herewith Law before YOU.
and commend TO your special considcra-
/ tiOn.
TIE THIRTEENTH ARTICLE.
BY the decision of the Supreme Court al
its late session. the XlIlth Article of the
| Constitution of the State, which prohibits
negroes and mulattOeS from coming into
the State. and from making contracts and
acquiring title To property: was declared
null and void as being an infringement of
the Constitution of the United States. In
this decision il was held that negroes born
in the United States are citizens of the
Cnited States, and Of the State in which
they live. and that the Nlllth Article of
our Constitution was therefore in violation
of that provision of the COstitution of the
United States which declares that the cit
zens of each State are entitled 10 the priv
leges and immuniics of the citizens of the
several States The law made in eXccu-
ton of the XlIIlh Article is of course a
nullity. but respectfully recommend that
as an act ofpubic deccncy it be formally
repealed and wiped out
NATIONAL DEBT AND TIE CURRENCY.
Ii would be very fiattcring 10 our nation
nj pride. and would excite the as,Oni>h-
ment and admiration of Europe. if we were
To pay off our national debt within fifteen
or eighteen years. but there are some things
more important To us than ilattering our
vanity or astonishing the people ofthc Old
World.
While am not il favor of perpetuating
the national debt. and do not regard il a.
II blessing. | am opposed to pressing our
people TO its sudden payment, just TO show
what we can do.
Ii this generation after having put down
the rebellion. shall accomplish the work of
restoration. il will have done well. and
may very properly leave at least part of
the national debt Ia be paid by the next.
As the misconduct of the people Of the
South caused this debt to be contracted. |
am decidedly in favor ofrequrine them and
their chil.iIcn to- pay their proportion of it.
erished condition they can not do. At this
time they have very little property besides
lands, and scarce anything to pay taxes on.
or pay taxes with. and until restoration is
completed and emigration. capital. in
dustry. commerce and agriculture shall
have brought 10 them wealth and prosperi-
" Whatever part of This debt is paid in
the next five or eight years must. from the
condition .,f fhiu.r. la cnllactaI fr,,,,, fl,,.
people Of the North and must to that ex-
tent relieve the people of the South from
burden. which ought in justice to fall chief
~ on them.
am therefoae in favor of reducing taxa
lion To- a standard which will be sufficient
To defray the ordinary expenses of the
Government. and maintain perfectly the
credit of the Nation by paving punctually
the interest on the DEBT. leaving the pay
ment of the principal to- times of more gen
eral prosperity, when our commerce upon
the seas shall have resumed its sway, and
a largely increased population has greatly
developed the agricultural and mineral re-
sources of the country, and produced an
aggregate of wealth compared with which
the national debt will be but q triiiing per
cent.
While il is desirable to return TO specie
payments, at as early period as is consist
ent with maintaining the business prOSperi-
ty Of the country. ii is not result i'm
portant that we should hazard general dis
aSter and bankruptcy.
At this time the financial condition Of the
country is depressed. trade is languishing.
and a wide spread fear ofpanic and disas-
ter prevails among the people. The con
tinued reduction of the currency, follow
ed by corresponding reduction in all val
ues, to that extent diminishes the capaci-
ty of the people to pay their Indebtedness
contracted at a time when The currency
was much more inflated than at present
and gold at much higher premium.
If last year pork was twelve dollars a
hundred and this year il is SIX il is mani
fest that the capacity of the farmers to pay
is diminished just one half, while the vol
lme olihe principal and interest of the pub |