suffer the punishment prescribed for that offence in the fifteenth section of article first of chapter fifty-three of the Revised Statutes of 1843. SEC. 28. The capacity of that portion of said canal yet to be finished, shall be the same as established and provided in the original and late surveys, and the said trustees shall cause to be constructed and kept in repair, on the entire line of said canal, suitable bridges over all State and county roads crossing the same, in the same manner as is now required on the line of said canal east of Tippecanoe. SEC. 29. Said canal, finished and to be finished, shall be deemed and taken to be a public highway, and shall be free to all persons whomsoever, to pass and re-pass with their own boats, or other water craft, and with their own produce, goods and chattels, wares and merchandise; such persons conforming to such uniform rules and regulations, and paying such uniform tolls, as may be established and required. SEC. 30. Said trustees shall establish at least one land-office for the sale of said canal lands, at some convenient point in this State, for the transaction of all business connected with said trust. SEC. 31. It shall be the duty of said trustees to return to the auditor of State, on or before the first day of November in each year, a list of all lands sold by virtue of the trust. SEC. 32. It shall be optional with the State, at any time hereafter, to call in and require a surrender of the outstanding stock issued under the first section of this act, by giving to the holders of such stock a new certificate for the one-half of the principal thereof, to bear interest at and after the rate of five per centum per annum, and which principal and interest shall be payable and redeemable by the State, out of the revenues thereof, the principal to be payable at the pleasure of the State, and by giving to such holder another certificate for the other half of the principle of such stock, to bear a like interest of five per centum per annum, and to be paid and redeemed, and only paid and redeemed, out of the canal lands, and the tolls and revenues of the said canals as aforesaid, as provided in the eighth section of this act; and from and after the time that the State shall call in said stock, issued under the first section of this act, and shall issue new certificates as aforesaid, the State, its faith and revenues, shall be only pledged and responsible for the payment of one-half of said principal and interest, at the rate of five per centum per annum thereon; for the other half of said principal and interest, the holders of said certificates shall look solely and exclusively to said canal lands, and the tolls and revenues of said canal, as provided in the eighth section aforesaid of this act: Provided, however, that the State shall have the option of redeeming said canal certificates out of the revenues of said State, in the same manner as if this section were not adopted: And provided further, that the excess of the revenues of the said canal land, and tolls and revenues of said canal, after paying said interest of said five per centum per annum on said canal stock, (if any there be,) shall be applied to the redemption and absolute retirement of said canal stock. SEC. 33. This act shall take effect and be in force as soon as the subscription mentioned in section six shall be made, and ten per centum paid thereon to the trustees elected, as provided in section seven of this act, and not before: Provided, That, until there is surrendered and can celled bonds of the State to the amount of one-half of all the bonds outstanding, (except bank bonds,) it shall not be lawful for the governor to convey by deed the Wabash and Erie canal, lands, tolls, &c., as provided in the eighth section of this act: Provided further, That the acceptance, as provided in the eleventh section of this act, of a grant of land made by the general government, by their act, to grant certain lands to the State of Indiana, the better to enable said State to extend and complete the Wabash and Erie canal, from Terre Haute to the Ohio river, shall not be construed to make it obligatory on the State, at any time hereafter, to complete said canal out of its revenues derived from taxation. SEC. 34. That nothing in this act shall be so construed as to allow the trustees, proposed to be appointed or elected, in this act, to erect any dam, bridge, or any other structure, in the construction of the extension of the Wabash and Erie canal, so as in any manner to impede the navigation of the east fork of White river in its present state, or as it may be hereafter improved by the construction of dams for slack water navigation, as the right to do has been secured to a company, chartered by the present legislature, in an act entitled "An act for the improvement of White river." SEC. 35. The State reserves the right of fixing, by law, the salaries to be allowed the trustees mentioned in the seventh section of this act. JOHN S. SIMONSON, Approved January 19, 1846. Speaker of the House of Representatives. JAS. WHITCOMB. I, John H. Thompson, Secretary of State, do hereby certify that the foregoing is a true and complete copy of the original enrolment of an act entitled "An act to provide for the funded debt of the State of Indiana, and for the completion of the Wabash and Erie canal to Evansville," now on file in this office. In testimony whereof, I have hereunto set my hand and affixed [SEAL.] the seal of the State, at Indianapolis, this 10th day of January, 1846. J. H. THOMPSON, AN ACT suplementary to "An act to provide for the funded debt of the State of Indiana, and for the completion of the Wabash and Erie canal to Evansville." Approved January 19, 1846. SECTION 1. Be it enacted by the General Assembly of the State of Indiana, and it is hereby declared, in virtue and exercise of the option reserved to the State by the 32d section of the said act, that the outstanding bonds of the State shall be surrendered by the holders thereof, and a new issue made in exchange therefor, of two certificates, to be Each respectively signed and sealed, and otherwise verified by or on behalf of the State, as provided in the second section of the said act. such certificate to be for an equal moiety of the principal money secured by the bond or bonds for which the same shall be exchanged, and to bear interest at and after the rate of five per centum per annum, as provided by the thirty-second section of said act; such interest to be computed from the first day of January, 1847; that one of such certificates, with interest thereon, as aforesaid, shall be paid by the State, out of the revenues thereof, as provided in the said thirty-second section of the said act, and shall be redeemable at the pleasure of the State, after twenty years, as provided in the first section of the same act; and the other of such certificates, with interest thereon as aforesaid, shall be paid out of the canal lands, and the tolls and revenues of the said canal, as also provided by the thirty-second section of the said act; and that such certificates, in the form mentioned in the schedule to this act, shall be issuable as provided in the second section of said act, as modified by this act. SEC. 2. That certificates for arrears of interest, in the form mentioned in the schedule to this act, computed from the first day of January, 1841, to the first day of January, 1847, on the respective moieties of the outstanding debt of the State, herein before mentioned or referred to, shall be issued at the same time, above in this act mentioned, and shall constitute a special stock; that the amount of such of said certificates for interest as shall be chargeable on taxation, as herein before mentioned, shall be funded as of the first of January, 1853, and shall bear interest from that day, but not before, at and after the rate of twoand-half per cent. per annum, payable semi-annually, on the first day of July and the first day of January, in every year, and the first half yearly payment of such interest shall become due and be paid on the first day of July, 1853. That the amount of such of the said certificates for interest as shall be chargeable on the canal lands, and the tolls and revenues of the said canal, shall likewise be funded as on and from the said first day of January, 1853, and shall bear interest as on and from that day, but not before, at and after the rate of five per cent. per annum, which interest shall also be paid semi-annually, on the first day of July and the first day of January, in every year, and the first half yearly payment thereof shall become due and be paid on the first day of July, 1853, and new certificates, bearing interest after the rate, and payable at the times lastly mentioned, shall be issued and delivered out by the said trustees, to the parties respectively entitled thereto, when the certificates for the principal shall be issued and delivered to such parties, as specified in the first section of this act. SEC. 3. That the amount of interest to accrue from the first of January, 1847, to the first of January, 1853, inclusive, on that moiety of the principal sum secured by each bond surrendered and exchanged as aforesaid, and which is to be paid out of the revenues of the State alone, and being at the rate of five per cent. per annum on such moiety, shall be paid by the State in the manner provided in the first section of the said act; that is to say, on the principal specified in such last mentioned certificate, the State shall and will pay interest at and after the rate of four per cent. per annum from the first day of January, 1847; which interest shall be paid semi-annually, namely, on the first day of July and the first day of January in every year, the first payment of such interest to be made on the first day of July, 1847, up to and inclusive of the first day of January, 1853; and the remaining one per cent. shall be added to, and form part of the special stocks, so called, and be put upon the same footing, and at the time of the said semiannual payment of the four per cent., and up to the said first day of January, 1853, inclusive, a separate certificate shall be given for the said one per cent., (to make up the five per cent. aforesaid,) which certificate shall, as near as may be, conform to that which, by the second section of this act, is required to be issued for the arrears of interest accruing between first January, 1841, and first January, 1847, and made payable in the same manner, and shall bear the same rate of interest, from and after first January, 1853; or, the aggregate amount of said one per cent. from 1847 to 1853, may, in the first instance, be added to, and included in, the certificate to be issued for the arrears of interest accruing prior to first Jannary, 1847, as and when the said certificates shall be issuable, according to the second section of this act : Provided, that if the revenues of the State to be derived from the property tax and poll tax in the first section of the said act mentioned, shall not be sufficient, by reason of the causes in the same section mentioned, to pay in full said interest of four per cent. per annum, then and in that case the State shall only be required to pay, up to the said first day of January, 1853, such rate of interest as the par funds in her treasury, derived from the taxation aforesaid, shall enable her to do, which shall be paid and distributed, pro rata, on the principal specified in such last mentioned certificates of stock issued for the principal, and the deficit, with six per cent. per annum from the time it became due, the State shall make up and pay to the holders of such last mentioned certificates, on or by the first day of January, 1853; and from time to time, at each semi-annual payment, up to 1853, shall give to the holders of said certificates a separate certificate for the amount of said deficit: Provided, that no money shall be actually paid over to any holder of any certificate, until bonds to the amount of four millions of dollars, exclusive of interest, shall be surrendered for cancellation, as provided in said original act, as modified by this. SEC. 4. That the amount of interest to accrue from the first of January, 1847, to the first of January, 1853, inclusive, on that moiety of the principal sum secured by each bond surrendered and exchanged as aforesaid, and which is to be paid by the trustees out of the canal lands and the tolls and revenues of the canal only, and being at the rate of five per cent. per annum on such moiety, shall be paid by the said trustees in the same manner provided in the tenth section of this present act. Provided, That if the proceeds of the said canal lands and the tolls and revenues of the said canal shall not (after defraying all needful expenditures and outlays for repairs, attendance, and other necessary things appertaining thereto, as in the thirteenth section of the said act is mentioned) be sufficient to pay in full the said interest which shall accrue from the said first day of January, 1847, to the said first of January, 1853, inclusive, as provided in the said tenth section of this act, the deficiencies (if any) of said canal lands and tolls and revenues to discharge such interest as last aforesaid, shall, on the first day of January, 1853, be also converted into a special stock, bearing interest at the rate of five per cent. per annum, but shall only be payable out of the said canal lands and tolls and revenues of the said canal, and for which proper certificates of stock shall be issued from time to time as the deficiencies accrue. SEC. 5. That payment of interest upon certificates, chargeable upon the State, whether original certificates or special stock, shall be made from time to time on such certificates only as shall have been registered with the agent of the State at New York, (as directed by said act,) during the half year prior to such interest becoming due. SEC. 6. That bondholders who shall not subscribe before the first day of November, 1847, to the completion of said canal, as hereinafter mentioned, and shall not surrender their bonds in exchange for certificates before the first day of December, 1847, and who shall therefore be excluded from the right to become subscribers to the completion of said canal and works, shall nevertheless be entitled to receive a certificate for such amount of interest as shall have accrued, payable out of the State revenues due to such bondholders under the provisions of said act and of this act, from the first day of January, 1847, to the half yearly day of interest happening immediately before the day when they shall register their bonds as aforesaid, but not to any money payment in respect thereof, and the amount of interest represented by such last mentioned certificate, shall be funded together with special stock on the first January, 1853. SEC. 7. That instead of the previous surrender and cancellation of the amount of bonds specified in the thirty-third section of the said act, the bondholders shall be, and they are hereby, required to surrender for cancellation bonds to the amount of not less than four millions of dollars of principal, exclusive of interest thereon; and that the subscription for the completion of the said canal, instead of that now required by the sixth section of the said act, shall be twenty per cent. on the amount so to be surrendered and cancelled, unless the aggregate amount of said per centage shall exceed eight hundred dollars, in which case the said per centage shall be proportionably reduced to the bondholders respectively; but so, nevertheless, that such last mentioned sum of eight hundred thousand dollars be fully subscribed; and further, that the time limited by the sixth section of the said act for subscriptions, shall be extended from the first January, 1847, to the first June, 1847, and that the time for such surrender and cancellation, and for the exchange of bonds for certificates, and for the registration thereof in the city of New York, by the agent of State, as directed by the second section of the said act, shall be, and the same is hereby, extended from the first day of January, 1847, to the first day of July, 1847. And provided, also, That any other bondholder shall have the right, at any time prior to the first day of November next, but not thereafter, to subscribe to the advance aforesaid, upon the amount of bonds held by him, and on payment by him to the trustees, of his pro rata share of said subscription, together with interest from the first day of June, 1847, at the rate of six per cent. per annum, and on surrender and exchange of his bonds, according to the provisions aforesaid, he shall thenceforth |