The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1891-05-27
The Republican State Debt.

Inc hepuDllcan state Debt.
1t should not be forgotten that the
slight increase in the state tax levy made
by the last legislature was recommended
by Governor HoyEY and was made neces-
sary, in large part, by reckless fnancier-
ing when the republican party had con-
troll of the state government. When the
republicans went out of power in 1888
they left as legacy to their successors a
state debt of S4,S76, 6Os.S4, every dollar of
which-except So, S25.12 of old internal
improvement bonds-was created by the
republicans. They made 50, 9O5, 900 of this
debt in 1865 and 1867 by borrowing that
amount from the old sinking fund, which
was the school fund, and as Governor
GRAY said in his speech before the last
democratic state convention
Instead of paying this money back to
the school fund, so that it could be sent
to the counties and loaned to the people,
they issued non-negotlable bonds for that
amount payable to the fund, bearing per
cent interest
OF the state debt, which in round num-
bers is SS.OOO,OOO. about 100000 was
created by the republicans and about So,
100000 by the democrats. For the por-
ton OF the debt created by the democrats
the people have had value received.
About 100000 represents the cost of our
magnificent state house over and above
the proceeds Of the special state house
tax. The three splendid hospitals for the
insane at LOgansport, Richmond and
Evansville cost about 81 100000. Then,
too, largo amounts were absorbed in the
rebuilding of the soldiers and sailors
orphans home at Knightstown, the erec-
ton of the institution for feeble-minded
youth at Fort Wayne and the handsome
normal school building at Terre Haute,
the extensive additions to the in
stitutions for the blind and the
deaf and dumb in this city and the SOL
Governor GRAY in he speech referred to,
created little over 100000 OF the
state debt, and they point with pride to
the new charitable institutions established
and new buildings constructed as an
equivalent for that portion of the debt
created by them" He continued:
The republicans created nearly $780,
600 of the present state debt OF SS,000,000,
and what can they point to in the way of
institutions established and buildings con-
structed under their rule as an equivalent
for that portion of the debt made by
them2 They have erected no public
buildings during their control of the state,
except the insignificant building at
knightstOwn, constructed during Nor
TONS administration for the soldiers or
phans' home; the unsightly looking build
ing on the corner of Washington and Ten
nessee-sts., erected under BAKERS admin
istration, and which was lately sold by the
state, and whatever share they may claim
in the construction of the female reform
atory, erected under HENDRICKs' admin
istration. All OF those buildings did not
cost in the aggregate 100000.
The fact is that the only honest and in
telligent management OF state finances in
our history has been when they were in
democratic hands. In the old times the
wings wrecked the state credit by their
recklessness, extravaganza and corrup-
ton, and during the republican regime an
enormous debt was rolled up for which
there was little, next to nothing, indeed,
to show. Every dollar of debt created by
the democrats was incurred for necessary
objects, and the state has had more than
value received for it.