The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1877-06-27

gard to the manner in which the state debt
should be consolidated and placed on
sound financial footing. 1t has been
satisfactorily determined by careful es-
Inmates that tax levy of seven mills on one
dollar would be sufficient to meet all
current expenses for the present year, and
pay the interest on the consolidated bonds.
am confident that this levy would meet all
the demands of the state and pay the inter-
est on the debt At present the consolidated
debt is about So, 200, GOO and there is a certain
amount of floating debt vet TO be added to
this which can not as yet be exactly estimat
ed. Probably there are some duplicate
bonds, and it is believed that in some cases
bonds have been issued for coupons. Then
we have that portion of the debt known as
the big and little bonanzas to estimate and
provide for, and other allowances of Ike ma
ture. The whole floating debt when consoli-
dated will not be large, but it is impos-
sible at present to name any exact sam
The republican members of the legls.
lature desired an addition to be made to the
estimates of the year to cover the $4,000
which they claimed was due to them, as &C
crued unpaid debt under the late admins
tration. The sixteen republican senators
called upon me and l was satisfied upon
their representation that the claim was just.
The question came up before the two houses.
and the claim was acquiesced in by vote to
pay $4,000 for the present, until the ac-
counts could be examined and provision
made for the final settlement. The repub-
lican members also wished for an allowance
by the legislature of $4,000 for school pur-
poses. | thought that the grant should be
made, and when the bill came up before the
legislature it was passed with little OPP
position. A conference of the two houses
was held, and it was agreed upon harmon
iously to vote an appropriation of 100000,
which, with the poll tax, also allotted
to cover school expenses, made the total
$3.50, 900. These were the principal amend
ments to the bill of estimates as originally
submitted, and there was little difficulty in
bringing the two houses to an agreement
upon their passage. The question of repu-
diation has not arisen at all. There has been
some debate in regard to the best method of
providing for the consolidation and payment
OF the floating debt outstanding. The object
of the commission of which am member
is to ascertain precisely what the claims
against the state are, and to provide for
them by taxation and a possible issue of
state bonds. AS soon as the debt is placed
in the form of registered and countersigned
bonds, the work of the commission will be
ended / am not prepared at present to
make the complete and exact statement
in regard to the total Indebtedness of the
state which | shall be able to fur
nish in a few days. Gentlemen from
the state who 1 thought would have
already arrived have not yet reached the
city. They have in their possession the doc
uments which necessary for full exhi
bition of the state of the debt, and it will be
requisite to draw up a carefully prepared
statement from these sources before should
be willing to submit any positive details to
the public. A conference will be held with
a number of financial men in this CITY, and
when a reliable statement of the existing
debt can be prepared it is intended to make
full provision for the settlement of all
charges. 1t is proposed to provide for the
floating debt by the issue of registered
bonds, for the security of which the credit
of the state will be pledged. There are
funds enough on hand in the state treasury
to pay the amount which will shortly fall
due on one of the bonanzas, and it is nv ex-
pectation to provide for the other charges as
they become due by obtaining advances on
security from certain gentlemen in this city
The accounts will be examined and state
ment prepared by the middle of next week
SThe consolidated debt IN 1868. when the
republican administration began was about
So GOO, 900. 1t is now about So 200, 900. The
amount of the floating debt is to be ascer.
tanned and added to this"
Governor Hampton added that his STAY in
the city would be several days longer than
he had at first contemplated, but that his
| time would be almost entirely engrossed by
the demands of business An invi-
tatlon to accept reception at the city
nall mas Deeu sent 10 OONernOr hampton DIV
General Ward b. Burnett, commandant of
the First New York volunteers in the Next
can war, after having consulted with Mayor
Ely in regard to the matter. General Bur-
nett in his letter to Governor Hampton
writes as follows:
Having been informed that you ane ex
pected at Auburn and would be present
there at the celebration in honor of the
Shields guard, with the flag of the gallant
| regiment which honored your state in the
war with Mexico, | beg leave to inquire
whether we may have the pleasure and
! honor of receiving you, with that endeared
relic of the gallantry of the Palmetto state,
at the city hall of this city before you retarn
| to Columbia The South Carolina regiment
was very nearly associated in the same brig
| ade with the First New York volunteers
| under my command throughout the war of
victories, and it would afford us the highest
| qualification to see its standard thrown to
| the breeze once more with our own in pres
ence of our assembled citizens not only as
emblems of the union of hearts that gave us
victory upon a foreign soil, but as typical of
the union In the interests of our reunited
country at the present time, accomplished
mainly by your indomitable exertion and
energy"
A dispatch from Albany says that Gov
ernor Robinson expresses himself highly
| pleased with the interview he had with Gov
ernor Hampton, of South Carolina The
latter assured him that South Carolina
would repudiate no part of her Indebtedness
| whateNer-that the people were determined
to show that they were worthy citizens of
the United States in every respect Gov
! ernor Robinson thinks Governor Hamptons
policy is destined to prove great blessing
to South Carolina, and through that state to
the whole south.