The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1872-10-04
TIL. T..bash and Erie Canal
Bonds.
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Bonds.
4 cn1l-n tt,r ~ u, oYncrs Of ~"
ws,s,a 1',i Fri Cir,l homls visited
Il!ialapnlis liriN. the session of thr
.N.iaa'ar... "A LAST. lai presented y
Il. nai' - 'hr General Assembly,. ihro
core ,.n. ,rffi .gn. rrprrs nlihg their
gr.ey ,4c,s ail -ing TIE payment Of
those bonds BY the State. Gov. Viii
lard prescn ed the memorial - the then
Attorney General OF tho State, Hon.
.Jos,.pu l.. NicOoNAtn. for his opinion
~ 10 The liability Of the State for the
r,ymcn, 81: ,hcs,. bonds. ! response.
Mr.. M,Donad gave il ~ his opinion
That ther, was no Obligation on the part
Of the state for their payment, the in
tahi a1arss OF the State represented by
what /. knowna the Internal Improve
mrat Bonds haviu- been liquidi.ed by,
-, ennpromise with her creditors un-
dor the acts of 1915 q. f',,nliar.y known
a. the B;-rirg bill" the overture for
the compromise coming from the holt
ers of tn Internal Improvement bonds.
who accented the Wabash AMI Erie Can
III Bonds in part payment. When the
waiter was presented to the General
Assembly. N ts session in 1857. the
memorial was respectfully received and
referred ia m appropriate committee.
and,hev af;erdic consideration, eport-
cd the following Joint resolution. which
was ur,rimously adopted:
lie IT REsoLvFn. By THE GENERAL As
sranr.v ~ TIE STATE OF INDIANA. That
The General Assembly of the State of
IYlinrN has no power under the Con-
s,i,atian ~ purchase the Wabash and
Erie Canal.
Nv I: FURTHER RESOLVED. ny THE SAID
GrNsEAL .Assr,;nI Y. That if the Gene
be i,nnaiiiic. nuwisc. and injurious to
tie best Interests Of the people of the
State 10 purchase said canal
Vow. b. Il remembered. that the Gen.
eral Assembly avd the State Admins
tri,ion 81 1857 were Democratic. ard
thp appeal o. the Wabash and Eric Can
al AOul-holders for the assumption of
these hnn's bv the State was rejected
when thc state was under Democratic
rule and for reasons that have the same
force nov ~ then. The Democratic law
officer Of the State. and the Democratic
General Assembly. in n formal and SOL
cmn manner. declared that the Legisla-
iure las 40 power under the Constitution
20 purchase the Wabash and Erie canal.
aud oven II il had il was impoliiic. nm
wi.c and Injurious to the best interests
Of the State to do so. There was the
end Of the matter. Upon what higher
grounA ronld tie Democratic part
place Itself? And if the Legislature has
10 power usder the Constitution 10 pur-
chase HE "-qbash and Erie canal what
possible need or an amendment TO the
Constitution prohibiting the General
Assembly from doing what it has no
power to do? Where the Democratic
party stood in 1857 and i, then eavr the
quctuS TO the payment of the Wabash
and Erie canal bonds, it stands to-day.
and il has never occupied any other no
sli"n. And the Democratic members
Of Inc General Assembly. at its last scs-
sion voted without dissenting voice
for tho proposed amendment to the Con-
stiiution. prohibiting the Legislature
from tie payment. or assumption in anv
shape. of the Wabash and Eric Canal
bonds.
We have thus given at some length
tho rrrord Of The Democratic party M
'nsh ND Erie Canal honl
itt Er"uh'ican who
1--we .ari In tiN statements
' pol mtirf. AMI rrnSti-
~ ru trntrr Niver por-
Y ~. l Trf't 'irwei.
- N fie uMytt Wrr.r Ind
any intonlion ia ~ ~ 49, dnl.' rcrra-
sonted hv those ho. or 'ha State n
II should obtain cottr, ~ 'hn Stat
Government and tho Ln~i-iaruro in tlc
elections of this year. The onlv Doliti-
c'pH of any note. that w know %. who
qvors the assumntion or pavm"n' of tie
Wabash and Eric Canal bonds Is Gene
ral RoEERT IT. MIrroy. who was nomi-
mated BIZ the Rernhlcan state Convcn-
ton of February 22d. $50. for Trea-
snrrr Of State. with a full knowledge Of
lis expressed opinion upon that ques-
ton. Bur we have no fear that these
bonds will ever he paid by the State.
Tn.