Year: 1859

Berlin, under date of the 1th ult., one OF
his characteristic letters upon the interests
of his beloved Indiana, to his friend Hamil-
ton Smith, of Perry, from which we make
Q tracts:


THE STATE AGENCY.


To speak first of financial matters. The
laws which regulate the financial operations
of Indiana are in many respects proverbially
defective, ana we have hitherto escaped Sc
rious damage, only because we have thus
far been remarkably fortunate in the selec-
ton of able and honest men to fill the office
of State Agent. But we may not always be
thus fortunate and we cannot close our eyes
to the fact, that should corrupt or incapable
man ever occupy that important and respon-
sible position, there is nothing in our pres
ent laws, to secure the State against the
most stupendous frauds and losses. 1t is
well known, for example, that blank bonds
are executed in unlimited numbers, and for
warded to the Agent, and only require to be
filed up and signed by him to become valid !;
and yet there is nothing whatever, except
from bis personal honesty, to prevent him
from Issuing them by the thousand 1t
seems almost miraculous that we are not
compelled to count our losses by millions
You doubtless remember the case of the
young man who suddenly disappeared few
years ago, while connected with one of our
small Indiana banks in the capacity of CASH
ier, taking with him several thousand dol
lars belonging to his employers. For DAYS
and weeks before this robbery was commit
ted, this gentleman had been entrusted with
the affairs of our State Agency, during the
absence of the Agent, with blank stocks al
ready signed by the Auditor and Treasurer,
under his control, nothing to do but to fill
them out for thousands or millions. Once
issued and in the hands of -unsuspecting
purchasers, then let the State look out for
itselfl By permitting such dangerous fa-
cilities for robbing to remain uncorrected to
this very day, which is actually the case, the
State virtually offers premium on dishon-
esty, and invites depredations upon its prop
erty.


You will hear some men talk about
register of stocks at New York, and of other
checks and safeguards through the agency
of banks; but, in my Judgment the only
adequate means of securing the people of
the State against fraud and loss will be- to
require that all transfers of State stocks shall
be made by the agent in New York, then
sent to the Auditor and Treasurer of State
at indianapolis, to be duly signed and regis
tered, and then forwarded again to the Agent
in New York. This arrangement will prob
ably find little favor among brokers and
spectators; but every intelligent man at
New York or elsewhere, who wishes to
make an investment in Indiana stocks, will
consider himself amply compensated for the
delay of few days by the absolute security
of his property, which win be the result of
such precautionary measure Indiana will
owe you debt of gratitude if you will give
your attention to this subject, and in con-
junction with your colleagues in the Legis-
which are held az aR9r22y5alng 2S1astl % additional aud


GEOLOGICAL SURVEY.


We must not, we can not, shut our eyes
to this fact, that wherever our sister States
have scientifically developed their mineral
and agricultural resources, increase of popu-
lation and augmented wealth have been the
certain result; nor can we bind ourselves to
the fact that we must follow the same
course, or be content to remain the hind
most in the race toward the goal of material
prosperity. If we desire the capital and
the labor of the Old or the New World to





take the necessary measures to lay open its
mineral and other resources, and point out
with certainty the localities where they can
be wrought to the best advantage. We are
daily seeking for more capital; we are ask
ing for manufacturing skill and laber. They
will come without being sought whenever
we make the immense resources of our State
! apparent; but not till then. We know oul
IL hnr- vii al
domain of farming lands, Indiana is unsur
passed by any State in the Union in exten
| of mineral wealth, and in manufacturing ia
cilities. But this is not enough. The worl'
Iaust know it, too, upon satisfactory, unde
niable, scientific proof Men do not max
investments Of capital, an these days, apo
mere conjecture or assertion, unsupported b
evidence. Our chief duty toward our Stat
and toward ourselves is, therefore, to shol
these men of capital, these artisans, mechar
les and laborers, what inducements Indian


really offers for the investment of none


and of labor


You reside within the great coal regio


of Indiana, and have no doubt OF livel


sense of the vast importance to present an


future settlers, and to the well being an


aggrandizement of the State, of a thorougl


going, practical, scientific survey, whiC
would exhibit, at a glance, the character
our soils, the extent and value of our mil


eral regions, our timbered lands, our marb
] and stone quarries, our immense wat


power, &C., and sincerely trust that yo


may be successful this winter, in your a


tempt to secure the passage OF that measur


for which l have SO long laborec myself


You will not be at a loss for considerable


of every kind in favor of such meaSuI


The very foundation Of your capitol affor


a striking illustration OF its necessity. n
tice carefully, as you walk up the steps
: the State-house, the decayed stones, viii
q erumble and break under your feet. Thou!
: but few years in use, they have become
n n rotten that tie house itself would be enda
!, gered, were it not for the brick york col
d posing the greater part of the foundation.
= Carefully note the blue and white ston


The blue cost FIVE times more than t


white, were nearly as hard as iron, and We


difficult to work. 1t was thought th


would outlast dozen generations. I


white were SOFT and it cost the mason


little labor and time to work them into
" required shape. But note the differer