The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-02-05
IN SENATE.
WEDNESDAY Feb. 4. 1ss5-1O a. n.

A 49, 49, - Afal a. tAC ~
yesterday, the question being on the amend
ment proposed BY NJ. Campbell, of st. Jo-
seph
Mr.. RAHN TIE amendment does not
particularly interfere with the object OF the
bill. There are . large number Of tracts OF
land lying within the limits OF the city of
Evansville, with city lots around them.
These tracts are exempt from taxation for
city purposes, aud dont think that right.
These lands are owned, some OF them, by
Eastern capitalists and some of them by
heirs. The object of this bill is TO tax these
lands at a reasonable figure. Therei is no City
Council that will tax them up to their full
value. think the bill ought TO pass and
the section OF TIE Revised Statutes therein
referred to be repealed, because il exempts a
certain class OF lands from paying city tax
which they ought 10 pay.
Mr.. BAILEY The amendment would
materially affect properly in this city. We
have one or two large tracts of land within
re limits OF this city paying no municipal
tax, they being held for rice In values,
where Trey ought to be subject to the same
taxes and burden as other prop erty. There.
fore am opposed to the amendment
TIE amendment WAS agreed to.
= The bill was ordered engrossed.
STATE TREAsUREL's BOND
The bill II. z. 81 to increase the bond Of
the Treasurer of State from Sl50000 20
$1,000, GOO coming up as special order
Mr.. SMITH, Of Jennings, moved to amend
by striking out s. 600, OO0'' and inserting in
lieu $4,000; and by reducing the number
Of bcndsmeR from twenty to twelve.
II
tentlon - the necessity for immediate action
Oh this blll one way or the other. The bond
al the Treasurer OF State for the next two
yssIs n ust be tled at the latest next Mon
csv. TIE term of office which he now holds
eTSPiIes on that day, and he will bs
oe.'sed 10 he lew bond at that
time. u is but fair TO the Treasurer,
to TIE House AID the Senate, that action
should be taken as soon as possible in order
10 cradle the Treasurer 10 know the amount
IL hich he will be required to be response
be, and 10 avoid ali questions as TO the
OF the affairs of the Treasurer of State has
shown one thug which Senators of all politi-
cal psrties c. n agree upon. and that is, 1t is
shown at csrisin PERIODS of the year, in
very short space OF time, he has III his hands
property OF the State running uDt TO n million
and half OF dollars, and, as The Treasurer
himself states 10 the Committee on Finance,
he has an average of about $3.50 600 on hand
during the year. In tbe months of NovembsT
and April, and extending To the st of Janu-
airy, when the great school revenues passes
through his lands. the amount runs up to
81 3toO eco, or million - "A half of dollars.
in 1888 the act was pass.d gbich cave TO the
Treasurer CO State the Ilgh, to take office
uTon bond Of $4,000 Twenty six years
nearly have passed since then. Indiana has
more than doubled her population and she
has more Than doubled her wealth since the
act nov proposed TO be amended became a
Law. don't consider this matter a political
measure in any sense of the term. This bill
PASSED The House of Representatives on
vote OF so TO none;'so in that House. after
effort was made, ss is now being made by
the Senator from Jennings Mr.. Smith,
10 place the bond at $500 600
-sfter that was voted down. the
House agreed unanimously that the
-IEessuTer of State at 81 900 900. There is
reason IN this. / would not t.eat the Treas.
uref OF State any different than l wouli
treat any officer or man who had the man
sgement Of trust funds. The law provides in
regard TO trust funds, generally speaking
that the amount of bond shall be double the
amount OF money that goes into mis- hauds.
Make guardians bond for example. The
~guaIdlaR can't put a single dollar in his
pocket Tor any money he loans. He can not
By subierfuge loan his wards money at a
higher Iate CT interest aud put part 10 his
-
TO maize his bond in double the amount of
property In his hands both real aud
peronal. WI y should We make another raIe
for man who has the custody ofhalf million
of dollars belonging 10 the State, and who
confessedly loans this money, and receives
interest upon il, in defiance of the statute,
IL you please-a statute which has been
violated by every Treasurer of every party
since it was enacted; aad, therefore, | don't
think the rule should be drawn strictly
upon the present Treasurer. There is q
very large amount of the States money
loaned out, upon which interest is received.
Therefore, / claim the reason exists more
strongly for q sufficient bond than il does in
the case OF guardians bonds. 1t
may be SAID that this will preventa poor man
hem becoming Treasurer OF State. / think
not. The test Of whether one man Will 20
uTon the bond of another comes not so much
from wealth as from character for honesty
and probity. Every Senator knows many a
man who is poor but whom he would rather
trust upon his simple word than many
Wesithier man upon his bond. This bill
unanimously passed the House. which is
nearer the people than the Senate, and
represents the wishes aud desires OF the peo.
ple that solid bond will be required of the
treasurer OF State which will protect the
people against loss.
Mr.. SMITH, of Jeuninos. believe the
Treasurer OF state ought to give good and
sufficient bond, bat don't believe the la =
ought 10 require him to give a bond which
rs not within the reach of ordinary indi-
1vidue.s II all the Senator from Lawrence
Mr.. Nillsrd) said we're true, it is no argu-
.ment that the penalty on this bond shou d
be increased, unless he desires to become the
padvocste of special class of persons who
can only place themselves, by reason
of their wealth or infuencs
in that direction, In the hands of those who
would control the Treasury OF the State II he
hso 70 give such bond. II is very clear il
the Treasurer Of State is required to give a
bono of 81, 600 that the only persons be
could secure to go upon his bond who would
be scceptible would be those who are oper-
atirg monopolies and banks. therefore he