a measure of relief, new emissions to supply a want of metallic medium; although the notes upon being introduced into commercial transactions have been subjected to great discounts upon their nominal value, and liable to much uncertainty in the rates of their exchange. In the general loss which has attended paper credit, the people of this state have suffered sufficiently to induce an avoidance of further experiments in banking, however specious the plan of its details, especially if they cannot be based upon specie capital. The treasury notes authorised to be executed by an act of the last General Assembly, have been emitted from the treasury as the demands upon the state required; and of the means within the control of the Legislature, to meet the expenditures of the ensuing year, a similar measure, limited by a certain amount, is deemed the most eligible. Such policy, however, will necessarily require for the future that the revenue be collected in specie, its equivalent, or in treasury notes. Ten thousand dollars, of the denomination of one dollar each, with a reissue of those executed, redeemable in specie or its equivalent at the expiration of one year from the date of such issue, will be adequate to meet the demands upon the treasury.* The revenue, annually to be realized, should at least equal the annual expenditures of the government, as also the interest of any portion of the public debt which may remain unliquidated; and the additional quantity of land, which must annually hereafter become subject to taxation after the first day of December next, should be regarded, as a certain means of extinguishing the public debt. 4. By act of January 9, 1821, the Governor was authorized to have engraved $10,000 in treasury notes to pass as currency and receivable as taxes. These were accounted for by the state treasurer in his report December 21, 1821. The notes were engraved by Silas T. Toncray. By act of December 31, 1821, these were reissued as is shown by the following statement: TREASURY DEPARTMENT Corydon, January 2, 1822 The treasurer of state, in obedience to an act of the General Assembly of the state of Indiana, approved January 9, 1821, authorizing the issuing of treasury notes, submits the following report: That of the treasury notes authorized by the above recited act, 9,910 dolls. have been issued at the treasury, in discharge of claims due individuals on this department, leaving the sum of 90.00 dollars unissued, that out of the amount 9,910.00 dolls. at one time in circulation, the sum of 6,445 dolls. has been returned to the treasury, leaving in circulation on this day, the sum of 3,445.00. Respectfully submitted D. C. LANE, Treasurer The views of the General Assembly, in selecting individuals to draft a system by which the resources appropriated to the purposes of education should hereafter be employed, may not for the present be entirely realized. The welfare of the state must greatly depend on the relative perfection which shall characterise the plan by which our future exertions are to be directed in promoting education, "ascending in regular gradation from township schools to a state University". Much labor and attention will be indispensable to the accomplishment of an object so highly important and desirable; and ever error, which shall influence our attempts on this subject, may be productive of evils not easily to be surmounted.5 The construction and connection of many of the statute laws have become so obscure that a revision is considered important. The want of reasonable certainty of what is the law, in the discharge of relative duties whether of a public or private character, should be regarded as a public injury; while every generous effort should be exerted to render explicit the municipal regulations by which our relative rights and wrongs are to be determined.R The increasing strength of the militia requires the publication of an additional number of copies of the act, regulating the duties required of this portion of our national defence. Resignations of militia officers have become so frequent, that no inconsiderable, though unfavourable, effects are produced upon the progressive improvement in military discipline, and require that some additional restraint be imposed in relation to such resignations upon those who shall accept commissions. That some adequate means should be provided to secure the 5. Be it enacted by the General Assembly of the state of Indiana, That John Badolet and David Hart of Knox county, William W. Martin of Washington county, James Welsh of Switzerland county and Daniel L. Caswell of Franklin county, Thomas C. Searle of Jefferson county and John Todd of Clark county be and they are hereby appointed a committee to draft and report to the next General Assembly of this state "a bill providing for a general system of education ascending in a regular gradation from township schools to a state university wherein tuition shall be gratis and equally open to all and particularly to guard against any distinction existing in any of the said institutions between the rich and the poor." Resolved, That the said committee shall receive such compensation for their said services herein as shall be allowed by the next General Assembly. Resolved, That the governor is hereby requested to notify the gentlemen appointed by the above resolution of their appointment and he is also hereby requested to give the committee any information on the above subject in his possession. 6. By act of December 17, 1821, the Assembly appropriated $200 to defray expenses of codifying the laws; January 3, 1822, on joint ballot Benjamin Parke was elected to the work. proper care and safekeeping of the public arms, which have been or may hereafter be furnished, is obvious, and the squandering of those arms, which have heretofore been exhibited, should for the future be prevented. The duties which devolve upon the adjutant general are increasing and have been much increased, and the propriety of an additional allowance to that which is at present afforded is presented for your consideration. Further legislative provisions will be necessary to carry into operation the humane purposes of the Legislature connected with the establishment of the penitentiary; and the situation of those who have been engaged in erecting the building are entitled to legislative attention. The reclamation of John Dahmen, [see Aug. 22, 1820 above] a fugitive from the justice of this state who fled to the confines of Upper Canada, necessarily produced an unexpected claim upon the contingent fund. With those who were engaged in his recapture, the stipulation on my part was to defray their necessary expenses, and present their services to the consideration of the General Assembly for compensation. Those services, on account of several considerations, were certainly meritorious and attended with considerable fatigue and exposure. The request which has convened you for the discharge of your public duties was not determined on without reflecting upon the personal inconvenience which might be experienced by some of the members of the General Assembly. The period of your meeting, however, will not add to the public expenditures; though the time afforded thereby may be found necessary to prevent a serious public loss, and to avoid a corresponding responsibility which would otherwise be its attendant. The peculiar and interesting situation of the state will require much precaution and patriotic exertion on the part of those particularly to whom its legislative functions have been confided to resuscitate its financial concerns and provide for the present and future demands in such manner as the public faith of the state imperiously requires. Local jealousies and partialities should be avoided, and the public concerns regulated and directed by the first principles upon which our political fabric has been erected; uniting our common exertions to effect the great objects for which delegated authorities have been constituted. With the confidence which has been reposed by our fellow citizens in the beneficial results to be realized from your deliberations, allow me to unite, imploring the assistance of that Power without whose coöperation every other will be unavailing. JONATHAN JENNINGS STATE TREASURER'S REPORT TREASURY DEPARTMENT, 21st November 1821 The treasurer in obedience to the act of the general assembly entitled "an act concerning the Auditor of public accounts, and Treasurer of State," Submits the following report: That there was remaining in the hands of the treasurer, on the 27th day of November, 1820, the sum of That from the 27th day of November 1820 to the $146.96 1,800.00 11,144.00 677.00 256.00 91.00 From the sale of depreciated bank paper, the sum In addition to which there has been received from his Excellency Jonathan Jennings, treasury notes [reissue] to the amount of... Making a sum total of..... 10,000.00 $24,142.112 Within the periods above mentioned there has In payment of the officers of the Judiciary, the .... In payment for wolves destroyed, the sum of.. Making the sum total of.. .... 501.86 2,300.00 9,180.45 5,501.72 90.00 1,300.00 212.29 99.00 $19,715.32 $4,426.79 D. C. LANE, Treasurer Leaving a balance in the hands of the treasurer, on this day of..... All of which is respectfully submitted. SPECIAL MESSAGE: REPORTS OF STATE BANK AND BRANCHES November 21, 1821 Vincennes Western Sun, January 12, 1822 TO THE SENATE AND HOUSE OF REPRESENTATIVES: The details herewith submitted to the General Assembly in relation to the State bank and branches, are not to be considered as minutely correct. They are substantially correct as it regards the branches, but the state of the books of the Vincennes bank, was not such as to afford accurate information on all the subjects required, inasmuch as many of the running accounts were not balanced. It is remarkable that the Brookville branch, by negotiation, added to the amount of its paper in circulation during the month of March last, notwithstanding the assurance given in behalf of that institution on the 9th of November, 1821. JONATHAN JENNINGS |