The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-09-29
THE INDIANA STATE SENTINEL TUESDAY, SEPTEMBER 49,

memorial and decisive event, which eonsti-
tuted the 4th day of July, Ammo Domini
70, the birthday OF the nation; and,
whereas, 1t Is deemed fitting that the compile
ton of the first century of our national ex-
lstence shall be com.nemorated by an
exhibition OF the natural resources of
the country and their development, and of
its progress in those arts which benefit man
kind, In comparison with those OF older ma
lions; and, whereas. no place is so appropri-
ate Tor such an exhibition as the city in
which occurred the event it is designed to
commemorate; and, whereas, as the exhibit
ton should be q national celebration in
which the people of the whole country
should participate, 1t should have the sane
ton OF the Congress of the United States.
That act provided that the celebration and
exhibition should be held under the. aus
pices of the government of the United
states" thereby bestowing upon the work
THE NATIONAL PRESTIGE.
1t also provided for the management of the
undertaking by directing that it should be
under the control of commissioners, who
should be appointed by the governors of the
several States and Territories, and appointed
by the president, and requiring such COM
missioners to make report of all their duty,
from time to time, to the president.
In June, 1872, another law was passed by
Congress, the preamble to which fully
recognizes the Importance of celebrating the
centennial anniversary of the declaration of
independence by the holding of an inter-
national exhibition of arts, manufactures.
and products of the soil and mine," in the
city of Philadelphia. This act incorporated
the
CENTENNIAL BOARD OF FINANCE,
with the usual powers of corporation, to
secure subscription to its capital stock, to an
extent not exceeding 100000 to be di-
vided into shares of $40 each. "The pro-
ceeds OF such stock, together with the re-
ceipts from all other sources" to be used by
the said corporation for the erection of suit
able buildings, with their appropriate fix
lures and appurtenances, and for all other
expenditures requisite in carrying out the
objects of the said act of Congress. The 9th
section provides for certificate of stock for
the board of finance, and the 10th for the
selling Of all the property of the corpora
ton, at the close of the celebration, and d.
viding all the proceeds that may remain
among the stockholders. Under this act
the capital stock of 81 ,000, 900 was to be ap-
poytioned among the States, on the basis of
population. This mode of raising the capital
was adopted by the board OF fiuance, and
Immediately put in operation in Pennsyl-
vania, and arrangements were in rapid
course of preparation, in all sections of the
country when the failure of Jay Cooke d
Co. developed general financial and COM
mercial depression which assessed all the
efforts of the board of finance to raise addi-
tional capital. This was an exigency which
no one bad foreseen, and against which no
remedy could have bsen interposed. And
by this the whole process was brought to a
dan l.aoI- Irnw~ h.
painful condition. Doubly painful because
the presiden, in July. by proclamation, had
commended the great international exhibit
ton to foreign governments, and many of
them. Brazil, Netherland, Belgium, Switzer-
land, Germany, Sweden, Liberia. Chill,
Mexico, Spain and others, had signified
their purpose to take part in the exhibition
There seemed to be no alternative but to go
on BETTING scale what we had promised to
do, or TO subject the nation to lasting re-
proach. Under this state of centennial af.
fairs, it became the duty of the COM
missioners to report to the president, for the
use OF Congress. And thus the financial
condition of the work became topic in
Congress. / need not trouble you with the
debates of what occurred in that body.
While it enacted friendly legislation in the
form of
AN EARNEST INVITATION.
in the name of the United States to all for
eign governments to be represented and to
take part in the exhibition, and provided,
also, for the admission Of goods TOR the ex-
hibition free of duty, and for the issue of
memorial medals, it left to the people the
duty of raising the necessary capital. The
same condition of things, which rendered it
impracticsble for the people to contribute,
seemed to restrain Congress from the appro-
priation of any money not absolutely neces-
sary for the expense of the government. It
was under this condition of things that il
became necessary for the board of finance
and the commission to decide whether the
doned, our country brought to shame before
all the world, or whether. trusting
to the patriotism and generosity of
the people, they should struggle
on for success. That there was
hesitation and painful solicitude 1 know,
but am proud to say that when the decision
was taken 1t was all one way. But whilst
this is so, / think l am quite safe in saying
that had there been nothing involved but
the exhibition, the decision would have
been the other way; but we could not turn
our backs on the declaration of independ-
ence, on the glorious memories of the past,
and that forever, for no one now alive can
have any part in the second centennial We
must participate in the first, or abandon the
idea of centennial celebrations forever.
Under such auspices and with capital exceed
ing $1,000 900, the board determined
to enter upon the practical work,
and to struggle for success and for
honor. With the capital the main buildings
have been contracted for and are in process
of erection. The presidents invitation to
foreign nations has been sent abroad, and
the great celebration must come of, and
that, too, in the presence of the representa-
tives of all other nations. To raise the cap
ital still needed, the board of finance has
given to the country a system, under which
il will be made convenient for each citizen
to contribute what he can,
FROM ONE DOLLAR UPWARD,
and be furnished with the evidence that he
has so contributed. This is to be accom-
plished by furnishing memorial merits at
one dollar each, others at two dollars, at
three and at five dollars, and shares of