Down THE HUDSON
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Letters from Indianapolis state that on the l3h
inst Tho hill for the with the holders OF In
diana state Bonds in accordance with the proposal oi
Charles Butler Esq this city came up for consder"
ton. when an amendment offered, referring the
question to the decision ohe people nj the next August
Election The friends of the bill, fearing that amend
mcnl would be adopted, proposed compromise which
provides tina, the bond.hoders shall surrender oncha
Of the bonds which they now hold, and depend on the
Canal and Canal lands for interest and principal of the
same For the other half OF the bonds the State will
pay per cent interest the faith OF the State being Still!
pledged for the principal.


! Another letter states that the terms OF the compro-
mise viz 1.-The State may retire the existing stock by
giving new certificates for half thereof bearing five
per cent interest per 10 be pad by taXaiion-
The other half Of the stock, amounting (prncpsD to
s. i5OOO and the interest to look for payment to the
canal lands canal tolls &c and to that revenue alone
This proposition adopted in the House OF Repre-
seniaycs 18th inst by vote ofs2 2io7 The bill thus
amended subsequently ordered to be cngrossed-5G
to rs In this shape, the bill will probably become
law if there be time TO get it through the Senate OF
which there may be doubt the 10Th is fixed for
adjournment They have therefore, but three working
