HOUSE OF REPRESENTATIVES.
THURSDAY, January 20-10 a. m.The House was called to order and prayer offered by Rev. J. K. Pye, of M. E. Church of this city.
The reading of the journal of yesterday's proceedings was commenced and proceeded with, until--
On motion, the further reading was dispensed with.
On motion by Mr. Fall, the bill [S. 106] to confirm the conveyance of certain lands by the Commissioners of Wabash County was read the first time.
Mr. Fall moved that the Constitutional rule be suspended, that the bill may be pressed to the first vote, which was agreed to, by yeas, 82; nays 6, and the bill was read the second time by sections, and finally passed, by yeas, 91; nays, 1.
Mr. Neff, by leave, submitted a report from a majority of the Judiciary Committee on the bill [H. R. 3] concerning interest and usury, with a recommendation that it lie on the table, he stating the objectionable feature to be that it allows only 6 per cent interest, where, under existing laws 8 per cent can be collected.
Mr. Buskirk submitted a minority report from the same Committee, recommending the passage of the bill. He stated his impression, if the bill should become a law, that Eastern capitalists would withdraw their moneys from the State, which would be a blessing to her people.
The minority report was concurred in--yeas, 59; nays, 32.
Mr. Huston thought the people would be seriously affected by the passage of this bill, and opposed a 6 per cent. interest law, not because it would be detrimental to the banker and money lender, but because it would injure the general business interest of the whole State, because it would drive from the State all foreign money. He moved that the bill be recommended to the Committee for further consideration.
Mr. Moody stated that there were thousands of dollars in this country owned by farmers who were willing to loan it out at that rate of interest named in the bill because there was not a farmer in the Northern half of the State who can possibly realize 3 per cent. out of the money invested in his farm. The withdrawal of Eastern capital would cause people to pay as they go, and not incumber themselves by mortgaging their property therefore he favored the passage of the bill.
Mr. Berryman did not believe in an attempt to regulate interest by legislation.
Money like other things, is governed by the law of supply and demand, and the law can not compel a man to loan his money at a certain rate of interest. We might just as well try a legislate the Democratic party into Heaven as to fix by legislation the rate of interest at which a man shall loan his money. He thought the man who has money has the same right to fix the rate of interest at which he will loan it, as the man owning corn has to set the price at which he will sell it. Experience teaches that it is dangerous to legislate on this question.
Mr. Carter thought the interest bill ought to be further considered by the Committee, and favoured its recommittal.
The motion to recommit was agreed to by ayes, 57; nays, 36.
Pending the roll call Mr. Hammond, when his name was called; thought hasty legislation on the matter of importance was dangerous; therefore,voted "aye."
Mr. Kenner, when his name was called, was in favor of this motion, and thought the bill could be fully discussed upon its merits on the third reading; and therefor voted "aye."
Mr. Kenner moved to suspend the Constitutional rule, that the bill [H. R. 16] be read the second time by title, be considered engrossed, read the third time and put upon its passage.
Pending which came time for dinner.
AFTERNOON SESSION.
The pending motion was agreed to-yeas, 64; nays, 21, and the bill, [HI R. 16]: To provide for a re-submission of the Constitutional Amendments proposed by the last General Assembly to the people of the State for ratification, was read the second time by title only; the third time by sections and finally passed--yeas, 74; nays, 23.
Pending the roll-call--
Mr. Buskirk, when his name was called, said: "He was opposed to the amendments as proposed for ratification by the people, and for another reason, that the matter had once before been submitted to the people, and rejected by them, he would vote no."
Mr. Cole in explanation of his vote, said that although some of the amendments did not meet his entire approbation, he could see no harm to the submission of them again to the people, therefore he voted "No."
Mr. Moody, when his name was called said he favored some of these proposed Constitutional Amendments and opposed some, but inasmuch as they have once been submitted to the people and believing that there is no Constitutional authority to re-submit them, he would vote "No."
Mr. Neff, in explanation of his vote, said that after these proposed amendments were submitted to the people and overruled, he did not consider it our duty to submit them again. Therefore, he voted "aye."
So the bill passed.
Mr. Floyd offered a resolution, which was adopted, requesting the Committee on Revision to report as soon as possible the bills in its possession.
NEW PROPOSITIONS.
The following described bills were introduced, read the first time and passed to the reading:
By Mr. Vawter [H. R, 142]: Authorizing the sale and conveyance of certain lands in Jennings County belonging to the State of Indiana.
Also [H. R. 143]: To make the Township Trustee of each Township Superintendent of Highways and Roads.
By Mr. Kain [H. R. 144]: Legalizing the collection of delinquent taxes by the sale real estate, where the officers have omitted to assess the tax, etc.
Mr. McIntosh offered a resolution declaring it the opinion of this House that no enumeration of the white male inhabitants of the State over the age of twenty-one years can be made until six years after the last enumeration, etc.
On motion it was laid on the table by yeas, 51; nays, 36.
By Mr. O'Brien [H. R. 145]: To amend Sections 1 and 2 of the act supplementary to the Assessment of Property Act, approved December 21, 1852 and providing for fixing the rate to be allowed for the annual publication of the delinquent list.
Also, [H. R. 146]: To amend Sections 197, 204, page: 68[View Page 68] 228, 230 and 281 of the Uniform Assessment of Property Act.
By Mr. Taylor, of the Lagrange [H. R. 147]: To enable owners of wet land to drain and reclaim the same when it can not be done without affecting the land of others and provide for the repair and enlargement of such drains.
By Mr Pancher [H. R. 148]: in relation to the construction of fences, gates, crossings and cattleguards on railroads within this State. (Unless Railroads Companies properly construct such guards, they shall be liable for the damage done to the stock thereon.)
The House then adjourned.
