Kenosha tribune & telegraph. [volume] (Kenosha, Wis.) 1856-1859, 1858-12-23

I
/ to strike new lead. .5 .....
The Committee state that the Rail
road falling to pay the interest, as per
contract, the cities, towns counties, and
farm mortgagors are called upon to pay
when it is discovered that they are pow
erless to relieve themselves, not having
the ability to force the collection flakes,
and "Repudiation is openly talked OF. .
Very well; if parties who have volun-
tarily entered into obligations which
they propose 30 Repudiate,' do the
committee suppose that when these OBJ
legations are shifted on to innocent per
sons by the despotism Of interested par
ties, that there will be no cause for re-
pudiation. A despotism implicated I'M
der such circumstances may breed an
archy. -.
The editor Of the Milwaukee NeeoS
being very sensitive on the subject of
the State credit, proposes first to pre-
serve the credit Of the State; and sec
ond to provide for the ultimate payment
of this Indebtedness by the Railroads for
whose benefit it was contracted. This
idea may catch gudgeons, nothing more.
Is it supposed that Railroads that can
not pay their obligations to towns, cities,
counties and farmers, will be any more
able to pay when the debt is transferred
to the State. That they will be no
more able and much less disposed after
the assumption, must be very apparent.
Is it possible that any of these advocates
of State assumption who are so nervous
with regard to the credit of the State,
have any La Gross bond, on which they
would like to realize ? Is the State cree
dit to be preserved by being linked to
the corrupt carcase of the La Gross
swindle? Do the committee suppose
that sufficient tax can be peacsably
ground out of Che people, to make good
the liabilities of this profiigate and cor
rupt concern, and prove the truth of
the Aphorisin of Pruthorn, that ''Prop-
erty is Robbery" ...
The Committee assume that six mil
lion will be sufficient. Does any one sup
pose ti'at the wedge once entered, that
clamors from every part Of the State,
hereafter, for similar purposes can be
denied And after once conserving to
be scared to the very vitals, we shall
again and again be compelled to pay
for cheating the poker" Another
beautiful feature OF the scheme is that
the bonds to be issued by the State are
needed for banking capital. Indeed,
then the State can create capital by run
ming into debt, the larger the debt the
more solid the basis for banking veri-
flying the old Federal doctrine, that q
public debt is public blessing The
greater the debt, the more universal the
blessing, embracing the just as well as
the unjust. John Lanes scheme over
again. flfr
The committee call attention to the
action OF other States. Can they
mention 8 single State that has not been
cheated to a great extent, by loaning
bonds to private corporations? New
\ ork is mentioned as giving three mill
lions to the NY. & Erie, road it is.true it
was given, for the reason that she could
not get back. TWAS originally loan
the company failed to pay any part OF
it. 1t IL very convenient now to call it
a gift. And how is it with Minnesota
The State agreed to issue five millions
bonds in aid Of certain Railroads, and
was to be secured by the first mortgage
on the road (; but it is evident the State
is to be cheated out of the whole by the
sharp practice Of the r. Road compa-
MES in theirissuing Of unlimited amounts
of first mortgage bonds, thereby de
stroying the security of the State. Is
there any possibility that this State
would meet with better fate? trust
not. Once granted what isnow required,
and no earthly power can redeem the
State from the gamblers fate. Mr. Edi-
tor there are other matters connected
with Rail Roads wish to examine, but
defer it for another communications
The committee complain that the press
is silent. Iftho committee feel agrieved
that the conductors of the press do not
speak, it is hoped that they will be com
forted by the voice of the public through
the press; and since they invite exam
nation, they may get all they wish even
to details. TAX PAYER.
Dec. IS, 1853.