The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-03-02
AFTERNOON sEssION.

Mr.. BAILEY resumed and concluded his
itemized starement.
Mr. MCINTOSH: IL the Senator had not
attempted to lssso part of the Senate hold
ing over, / probably should not have said
anything. Where are the taxpayers who do
not represent much wealth in these town
ships? In these hard times aud low prices
for produce and stock this bill asks the tax
Tayers TO make up for losses sustained by the
failure OF banks. | intend to vote against
this bill.
Mr.. OVERSTREET: If this was case in
court feel that l could successfully defeat
some Of the allegations made in this case.
undertake to say these banks were interest
paving banks. / understand most of the
money lost was lost in the Indiana Banking
Company, and other banks would not hold
the checks OF that bank over night for
months before its failure. 1t is said large
majority of taxpayers have signed these pc
titiOns. There are some eight or nine Of
these Trustees, and their bondsmen are q
much larger nunber, and We know how pc
titions Of this kind can be gotteH up es.
pecially where there are 50 many bondsmen.
Tbes petitioners ask rs to compel those who
are unwilling, to help to pay these Losses
many Of them unable to pay. This would
be one OF the most dangerous preced5nts ever
established ard the bill ought not to pass.
Mr.. WINTER: II was to consult my own
feelings. would keep silent and vote for the
OIL. 0hFe 10 10 IeShIu WuAt
be considered as popular In my locality. II
was never minated before the election that
this measure of relief would be presented to
this Assembly, and so the people did not ex-
press themselves upon that question. Al
though petitions we're circulated previous to
the election, two weeks before this session
commenced was the first time | knew OF
them. These measures should be decided
upon what is right and Just. Ths Law holds
each one of these Trustees liable for every
cent OF this money. Reads the note to sec
ton 991 of the code The Law says the
Trustee is answersble for every dollar, al6
has undisputed right to do with the money
as be pleases, answering only for the princi
pal. II bills OF this kind ara passed, there
will be no security for the public funds. Tn
care of public moneys lie one of the most sac
red trusts OF the Legislature. But 7 dom
propose to rest this care upon a bare Legal
proposition only. Every one of these Tfus
tees placed this money IN the bank 70 Oh
tain interest, aud did receive iRtsrs5t
with perhaps one Or two exceptions.
/ took the trouble 10 20 10 the books OF the
three banks COW in the hands of receivers.
and i am speaking from the record with
reference to these facts. Three had their &C
counts II Fletcher 4 Shsrps's Bank Whsr
men come with sffidavits, such 81 those pre-
sented here, trihing with the law, they have
no right to receive any consideration At TIE
hands CT the General Assembly. Read
some of the sffidavits aud figures aud dates
from bank books to refute them A nun
Der who signed these petitions have come to
me ard said they were induced 70 sign them
under misreprs sentation. 1 make the as
sertioD there is no precedent in the statute
book for any such bin as this. IL is not the
amount of money TO be taken from the tax
payers twice in ITSELF although q consider
able sum 500 000-but behind that is the
Treasurer of this city with some $40 600, the
Treasurer of this county with some $50 coo
and the Clerk of this court with some So
600, and the Treasurer of Greene County
some $4,000, sll of whom could come in
under bill similar to this The establish
ment of such precedent should be stopped.
Mr.. BAILEY: There is no analogy to the
the county officers referred to, as none of
them come here with two-thirds OF the tax
payers willing to take this burden from their
shoulders.
Mr, Y0VCHE made an Intellectual motion