1
Whereas, it becomes our duty to sustain the good faith and credit of the State, to make provision for the interest on the State debt; and to do this, it is also
our duty to obtain all the information in our power respecting this subject.
And whereas, it would be little less than criminal negligence with the evils of hasty Legislation
still before our eyes, to rush on and pledge still deeper the faith of the State on a mere declaration, that a large amount of interest is due without having the
exact amount of interest, and whether such amount includes interest as well upon those
bonds for which the State has received payment, as those for which it has never yet received any consideration,
and which are believed not to have been sold in accordance with the special powers
vested in the agents of the State by the law authorizing their sale; Therefore,
Resolved, That the Fund Commissioner be requested to furnish this House as speedily as possible with the following information, to wit2:
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1John M. Kelly introduced the preamble and resolution in the House of Representatives on December 8, 1840. Kelly’s resolution generated a furious debate in the House
over the disposition of the bonds and liability of the State for interest on bonds purchased on credit. The House amended the resolution by striking
out all after the word “to wit” and inserting new language that centered on bonds
sold on credit. The House passed the resolution as amended. On December 8, Fund
Commissioner Richard F. Barrett responded to this resolution with a report delineating the bonds sold for which the
State had received payment.
Journal of the House of Representatives, of the Twelfth General Assembly of the State
of Illinois, At Their Second Session (Springfield, IL: William Walters, 1840), 88-89, 91-93; Illinois State Register (Springfield, IL), 11 December 1840, 2:7, 3:1.
2On December 8, 1840, the House of Representatives amended the resolution by striking out all after “to wit” and inserting new language.
Journal of the House of Representatives, of the Twelfth General Assembly of the State
of Illinois, At Their Second Session , 88-89.
3The original resolution requested a more extensive report from Fund Commissioner Richard F. Barrett. This prompted a spirited debate in the House between Ebenezer Peck, Lyman Trumbull, and others on the impact on this resolution for a bill pending to pay the January 1841 interest on the internal improvement debt, and concerning
the State’s liability for interest payments on bonds sold on credit.
Illinois State Register (Springfield, IL), 11 December 1840, 2:7, 3:1.
Printed Transcription, 2 page(s), Journal of the House of Representatives, of the Twelfth General Assembly of the State of Illinois, At Their Second Session (Springfield, IL: William Walters, 1840), 88-89