Collected Works of Abraham Lincoln. Volume 1.
Lincoln, Abraham, 1809-1865.

Debate in Illinois Legislature
Concerning Sale of State Bonds [1]

February 15, 1841

The first section of the bill providing for the sale of bonds for payment of the July interest was taken up and considered: several amendments were proposed by Messrs. Kitchell, Henderson [2] and Lincoln, and a lengthy debate took place on the question whether bonds should be sold at par value only, or whether they should be sold at such value as they might bear in the money market. Messrs Lincoln, McClearnand, Peck, and Brown, [3] of Vermilion, contended that to restrict them to be sold at par value only, was tantamount to prohibiting their sale, and would, therefore, defeat the whole object of the bill, and amount to an entire abandonment of the good faith of the State. . . .


[1]   Illinois State Register, February 26, 1841. Brief mention also in Sangamo Journal of same date.

[2]   Wickliff Kitchell and William H. Henderson.

[3]   John A. McClernand, Ebenezer Peck, and John J. Brown.