522 INDIANA HISTORICAL COLLECTIONS 



As a citizen of Indiana, it would give me unspeakable 

 joy if I could be assured that your assertions had the 

 least foundation in fact. 



That she has, as you say, sufficient resources so far as 

 richness of soil is concerned, I can vouch for from my 

 personal knowledge and examination of all parts of the 

 State during a residence of more than fifteen years ; but 

 that the majority of the people have "the will" and will 

 make an effort to find "the way" to pay her State Debt, 

 I do not believe; and I believe that your confident look 

 to the next Legislature is "confidence misplaced," very. 

 Do you forget that the next Legislature is Loco-Foco — 

 very, and that one of the same kith and kin last winter 

 gave the creditors of the State a very "cold shoulder"; 

 and why do you expect them to give a warmer reception 

 to any proposition to pay the fourteen millions of dollars 

 that the State now owes? And even if the Legislature 

 were of that kind of material that were likely to listen to 

 any such proposition to try even to find out a way to pay 

 the debt, I wish you would tell me if you have any fore- 

 shadowing of what that way is to be by which this over- 

 whelming debt, so discreditable to the State, is to be 

 paid. If by increased taxation, I can tell you that "live 

 Hoosiers" are not now alive to do it. Do you know that 

 property is assessed for taxation at its fair and full value 

 by seven assessors, and that in some counties the tax for 

 "State and County purposes" amounts to two per cent, on 

 such valuation ? Do you suppose that the people can pay 

 more, or that they will try to do it to save themselves the 

 disgrace of open and acknowledged repudiation? In fact, 

 I look upon open repudiation as far more honest than our 



and between then and 1845 practically no advancement had been 

 made in paying the creditors. In the summer of 1845, Charles 

 Butler, a New York attorney hired by the bondholders, came to 

 Indiana and attempted to rally the antirepudiation sentiment. It 

 was upon the success of his efforts that the optimism expressed in 

 the New-York Tribune was based. For an account of the internal 

 improvement system and its subsequent downfall, see Esarey, 

 Logan, A History of Indiana, 1:399-446 (Fort Wayne, 1924). 



