The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-02-23
THE PROCEEDINGS In DETAIL.
THE SENATE.

Defeat OF the Bill Reducing the Interest on
School-Fund Loans.
The Senate Saturday morning was opened with
prayer by Representative Browning.
On motion of Mr.. Magee the House amend
ments to the temporary loan bill rs. 1861 adding
the words: 1.-THE interest shall be paid semi
annually out of the funds in the State Treasury
not otherwise appropriated, were concurred in.
Mr.. Ernest offered concurrent resolution,
which was adopted, instructing senators and re-
questing Indiana congressman to oppose any
financial measure having for its object the stop
page of the coinage of silver dollars.
On motion of Mr.. Lindley the constitutional
restriction was suspended, and his bill rs. 294l
to legalze the construction of free gravel road
in Parke county, was passed. Mr.. Lindley ex-
planned that it was purely local, affecting only
certain portion of Parke county.
INTEREST ON scHooI.-FUND LOANS.
Mr. Illusions bill rs. 29l came up on the sec
@nd reading, with pending amendment, propos
ing to make the rate of interest on school-fund
loans per cent
Mr.. Overstreet-The bill ought not to pass
without this amendment Under the Constitution
no more than per cent can be collected from
any counties that may loan at 6. / think per
cent. is fair rate There are expenses Incl
dent upon making these loans that make at least
per cent. more. To harmonic all feelings in
this matter we ought to fix the rate at per
cent, as this amendment proposes
Mr.. Brown-The practical effect of this bill
will be to loan the school fund at 6 per cent.
This would be relief to great many counties
Mr.. Magee-The object of the constitutional
provision is to make this a permanent and GER
tain fund. If it be loaned in one county at and
In another at we have to make up a part of this
difference of per cent
Mr.. johnson of Tippecanoe-Seventy counties
can loan the entire fund at s per cent. only
eleven counties recommend the reduction to
per cent and ten to 6 per cent This amend
ment would reduce the income fully l2a per
cent, and the result would be we would have to
cut down the terms of schools or reduce the sal
aries of the teachers, either of which would be a
crime against the children now in this State and
those yet unborn. Do not cripple the income
which sustains the common schools. The Demo
cratic party should bear in mind that it is
charged with assailing the system of common
schools. am here to enter a solemn protest
against doing So
Mr.. Mclntosh-The committee had this bill
under AMUSEMENT at two meetings. l am op-
posed to the amendment and to the bill
Mr.. Youche moved to amend by nrov;dino
that the several counties shall be held liable To
pay the amount of interest as required undar
sec 4226 of the Revised Statutes of 1881.
Mr.. Overstreet-If the rate is fixed at s per cent
in this bill where it can be loaned at that and
in others at 6, the 8 per cent rate could not be
enforced under the Constitution
On motion by Mr. Sellers the bill and amend
ments were laidon the by yeas, 25 nays, IL.
A report from the judiciary committee declar-
ing Mr. Schlosss bill rs. 39l unconstitutional,
was presented. Mr.. Schloss, for the reason that
che Normal School would be without money for
tuition purposes, introduced a bill as a ssubsti-
tute for the one decided unconstitutional 1t
was referred to a select committee of five.
Mr. Addison offered concurrent resolution
requesting senators and representatives in Con
gress to aid in the passage of measures piedgfng
the faith Of the Nation to policy looking to the