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Which was,

On motion,
Laid on the table.

On motion of Mr. Foster,
Leave of absence was granted Mr. Read of Monroe.

On motion of Mr. Bascom,
Leave of absence was granted Mr. Chandler.

On motion of Mr. Berry,
Leave of absence was granted Mr. Shoup.

The Chair submitted the following communication from the Cashier of the State Bank, which,

On motion of Mr. Maguire, Was laid on the table and 1,000 copies ordered to be printed for the use of the Convention.

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Hox. GEORGE W. CARR,

President of the Constitutional Convention :

SIR: In reply to the resolution recently adopted by the Conventien,"requesting the Cashier of the State Bank to furnish to the.Convention the amount now belonging to the Sinking Fund, as set apart by the charter of the Bank for the use of Common Schools at the expiration of the charter-and also the probable amount it will be at that time”-I have the honor to state, that the amount now exhibited by the condition of the Sinking Fund, as having been earned by the Bank for the cause of Common School education, over and aboye all the liabilities of the Fund for the discharge of the State Loan for Bank capital and otherwise, is over eight hundred and seventy thousand dollars, ($870,223 49.)

In this amount is, of course, included the sum which the Sinking Fund has loaned to the State, under the law of the General Assembly of February 6, 1841, and which, by such law, the State stipulated to repay, for the use of Common Schools, “whenever the Bank Stock Loan

shall be paid off and the Bank wound up,” such sum being now $665,580 21.

But the interest on this sum, which at the rate of six per cent. per annum, the State also, by such law, engaged to pay, has not been included, nor the portion of the surplus profits of the Bank, which would accrue to the State, as owning nearly one-half of the whole stock, which share of the surplus, after fully allowing for all probabilities of logs from debts either in the Bank or the Šinking Fund, or on the sale of the Banking Houses, may safely be computed, with such interest on the loan to the State, as enlarging the amount already earned, by the operations of the Bank, for the use of Common Schools, to, at loast, the ram of one million of dollar,

The following summary of the condition of the Sinking Fund is aken from the quarterly balance sheet in August last:

MEANS.

Bank Stock of the State,

• $1,006,604 27 Stock Loan Mortgages,

71,888 29 Other loans, ....

537,226 01 Cash means,

15,863 18 State Bonds for Bank capital purchased, .....

84,000 00 Loans to the State under act of February 6, 1841,

665,580 21

$2,381,161 96

LIABILITIES

Five per cent. State Bonds

for Bank Stock, falling

due in Sept., 1864,....$500,000 00 Falling due in Aug., 1865, 450,000 00 Falling due in July, 1866, 440,000 00

$1,390,000 00 Due the State for balance of the third

instalment of Surplus Revenue,.... 114,532 87 Due the State for Bank Tax and Saline Fund vested in Bank stock, ...

5,716 27 Due for excess of bids on sales of lands,....

689 33

1,510,938 47

Excess of means,

$870,223 49

In answering the remaining inquiry of the resolution, as to what will be the probable amount of the fund for the use of Common Schools in the State, from the operations of the Bank, at the expiration of its charter, I have to say, that from the secure condition and experienced management of the Bank, if its business is not materially crippled, its average addition of profit to the State may be safely estimated, including the increase of its Surplus Fund, at $65,000 00 annually.

At which rate there would be added to the Common School Fund during the remaining six years of the Bank charter, the sum of $390,000 00, and thereby the object be consummated which has been ardently desired by many who have been long engaged in the affairs of the Bank, to-wit: that the Bank should earn for the State, as a clear profit, applicable to the beneficent purpose of a permanent fund for Common Schoo education in the State the sum of ono

million three hundred and ninety thousand dollars ($1,390,000,) being as much more as the amount of the loan entrusted to the Bank by the State in uniting in its organization.

If the expiration of the charter of the Bank had been provided to take place at the end of the addition of eight years, which will elapse between the close of the charter and the dates when the State's five per cent. bonds for Bank stock fall due, it would have been safe to estimate, in addition to clearing an amount equal to the whole of the State's investment in the Bank, that, with the use of the accumulating profits, the progressive enlargement of its business, and the increased number of its Branches, which, in that event, could have been successfully put in operation, the principal of the loans now made by the Sinking Fund to the State, ($665,580 00,) could have been almost, if not entirely, earned by the Bank and repaid to the Common School Fund without taxation.

That the result of the operations of the Bank has been as favorable for the State and the Common School Fund, while, at the same time, furnishing a sound currency for the business of the community, may be attributed mainly to the admirable safeguards of mutual liability, and the supervision tending to check the engrossing of its means by those concerned in its management, which are peculiar to its charter—to the stock of the individuals being held pledged to keep the stock of the State good in case of insolvency-and to the business of the institution having been conducted by practical citizens of the State owning stock, which has prevented the control from being transferred to non-resident capitalists.

That such result has not been still more favorable may principally be referred to the times and occasions of trying embarrassment and disastrous revulsions in financial affairs, through which the country has passed since the organization of the Bank in 1834, and under which both State and private banking institutions of other States have not only lost the entire capital invested in them, but also failed to redeem their circulation in the hands of a confiding people.

Respectfully submitted,

JAMES M. RAY, Cashier.

Mr. Biddle presented a petition from citizens of Howard county, praying that the right of suffrage be not granted to Negroes, and that they should not be permitted to emigrate to this State.

On motion of Mr. Biddle, Said petition was referred to the committee on the rights and privileges of the inhabitants of this State.

Austin H. Brown, the Printer to the Convention, filed an agreement and bond in accordance with the resolution adopted yesterday, which agreement and bond were approved by the President.

Mr. Owen offered the following resolution :

Resolved, That the committee on rights and privileges of the in

habitants of the State inquire into the expediency of incorporating in the bill of rights, the following section: Women hereafter married in this State shall have the right to acquire and possess property, to their sole use and disposal; and laws shall be passed, securing to them, under equitable conditions, all property, real and personal, whether owned by them before marriage, or acquired afterwards, by purchase, gift, devise or descent, and also providing for the registration of the wife's separate property.

Mr. Kelso moved to strike out the word "hereafter;"
Which was decided in the affirmative.
The vote being taken on the resolution, as amended,
It was decided in the affirmative.
In pursuance of notice given yesterday,

Mr. Pepper of Ohio moved to amend the 35th rule by striking out the words of the 3d and 4th lines, “ But the question shall not be taken on the same day unless by unanimous consent ;" Which was decided in the affirmative.

On motion of Mr. Hendricks, Leave of absence was granted to Mr. McKenzie, the Sergeantat-arms.

The Chair announced the next thing in order to be resolutions lying over under the rule.

The resolution submitted by Mr. Borden on the 15th instant, on the subject of married women holding property, was taken up.

Mr. Owen moved to amend so as to make the same a resolution of inquiry ;

Which was decided in the affirmative; And the resolution, as amended, Was referred to the committee on the rights and privileges of the inhabitants of this State.

The resolution submitted by Mr. Nave on the 15th instant, on the subject of testimony in cases in law and equity being taken in a similar manner, was taken up.

Mr. Nave moved to amend so as to make it a resolution of inquiry;

Which was decided in the affirmative;
And the resolution, as amended,

Was referred to the committee on the practice of the law and law reform.

The resolution submitted by Mr. Wolfe on the 15th instant, on the subject of impeachments being tried by the circuit courts instead of by the Legislature, was taken up.

Mr. Nave moved to amend the same so as to make it a resolution of inquiry ;

Which was decided in the affirmative ;
And the resolution, as amended,

Was referred to the committee on impeachments and removala from office.

On motion of Mr. Kelso, The order of business was suspended, and the report of Mr. Morrison of Marion, (chairman of the select committee) in relation to taking newspapers, was taken from the table.

The question being upon the amendment submitted by Mr. Edmonston to the resolution reported by the committee,

Mr. Pepper of Crawford submitted the following amendment to the amendment:

“ Add to the amendment the following words, ' at the expense of the delegates;

Which was decided in the negative.
Mr. Foster moved to lay the

resolution and amendment on the table;

Which was decided in the affiraiative.
The order of business being resumed,

The resolution submitted by Mr. Cookerly on the 15th instant, on the subject of tenure of office of the Governor, was taken up, and referred to the committee on the executive department.

The resolution submitted by Mr. Smith of Ripley on the 15th instant, on the subject of the manner of enacting laws by the General Assembly, was taken up.

Mr. Dobson moved to amend so as to make it a resolution of inquiry;

Which was decided in the affirmative;
And the resolution, as amended,
Was referred to the committee on the legislative department.

The resolution submitted by Mr. Tague on the 15th instant, on the subject of the manner of passing bills by the Legislature, was

Mr. Pettit moved to amend so as to make it a resolution of inquiry;

Which was decided in the affirmative;
And the resolution, as amended,
Was referred to the committee on the legislative department.

The resolution submitted by Mr. Lockhart on the 15th instant, on the subject of qualification of voters, was taken up.

Mr. Lockhart moved to amend by adding the following:

Provided, That no alien shall be permitted to vote until one year after he shall have declared his intention to become a citizen of the United States pursuant to the acts of Congress in such cases made and provided.

Which was decided in the affirmative.

Mr. Cookerly moved to amend by striking out the words twelve months and inserting six months ;

Which was decided in the negative.

Mr. McClelland moved to strike out so much of the said resolution as relates to Negroes and Mulattoes ;

Which was decided in the negative.

taken up

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