AFTERNOON SESSION
Mr. STUDABAKER, by leave, from a select committee, returned the bill (144), to amend sections 8 and 9 of an act entitled an Act creating the 12th and 13th Judicial Circuits, and providing for the election of Judges thereof, approved February 9, 1855, [fixing the time of holding the courts in the 13th Judicial Circuit], with a substitute therefor, recommending its passage.
The report was laid on the table for the present.
Mr. WEIR, by leave, presented the memorial of the Sergent-at-Arms of the last regular session of the Senate, praying for compensation for services as such, to the amount of $56, which was referred to the Committe on Claims.
Mr. STEVENS, by leave, offered the following resolution, which was adopted :
Resolved,That the Trustees of the State University be requested to furnish to this Senate during its present session, a report of the financial affairs of that institution, with all other matters that they may deem of importance to the people of the State.
On motion by Mr. SHOEMAKER, his bill (90) to provide for the collection, safekeeping and disbursement of the public money, and fixing the salary of Treasurer of State, was taken from the files and referred to the Committtee on Finance.
page: 132[View Page 132]On motion by Mr. STUDABAKER, the bill (144) laid upon the table a few minutes since, was taken therefrom, read through the third time, and finally passed the Senate by yeas 34, nays 0.
BANK OF THE STATE OF INDIANA.
The Senate resumed the consideration of Mr. Conley's bill (42) repealing the charter of the Bank of the State of Indiana.
Mr. STEVENS said gentlemen had been quoting the opinions of men of other ages on the question now before us, but he thought such opinions could not be brought to bear with any effect upon the bill under consideration. We now have a circulating medium that the people throughout the length and breadth of the State are satisfied with. If we repeal this charter the whole country will be flooded with the paper of eastern banks that we know but little about. He would not blame any Senator who was in favor of hard currency if he were to vote against such a charter as this upon its introduction in the Legislature, but now, as it has been passed, he believed it would be impolitic and ruinous to vote for its repeal. He had never heard of any petitions coming up here asking for the repeal of this charter; he had never heard a single voter murmur on account of it, and he did not believe there were 500 in the whole State that would ask for a repeal of this charter.
Mr. MARCH then occupied the floor in a speech of nearly two hours. He argued in favor of the passage of the bill, and earnestly and ably battled against the arguments advanced by Senators on the other side of the question. He did not look upon this bank charter in the light of a contract; but admitting, for the sake of argument that it was, he contended it was obtained by fraud, and the contract thereby vitiated. He cited many passages from Chief Justice Marshall and Chief Justice Taney's decisions, from Kent's Commentaries, the Indiana and Ohio Reports, and other authorities, supporting his views upon this question.
Mr. HEFFREN obtained the floor, and after a few remarks in opposition to the bill, gave way for a recess till 7 o'clock p. m.
