New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-11-22

sss a s t 9si p "a. i'i Tes 40: i.
f, T. bundled snd for, se.ion Of .sue fse eG prot
omtTaece. vei,A :aeh Company o,msy b %
bod IN tr for the bs.f of,ts Treasury of tie Ss.s
FROM oss acid bouSs whics sd deed oftrE- shall sahoi
a. Goven'r Secretary Of srse o rna,s convey.nsss Of
title to al ssca sn6s p,rct eeas with tie
,s.s kIr,s oors.;s' .s.Ie f,es.' Ih.; s.fs
cha be .red 70 The payment a. horcs seerr upen SIC
srs as frnG % net any afe i,isa 10 tie PAygui
o and tie principal thereof when due; ara a. rter 'errrf
al uni gcge tosd o. ne '0ad iald' a9d re-.
bsad,iaeS ssoa f,aayes u @ ne STATE at
tie tse q ~ i.'pe i st1f< b0nis"
Now il is not claimed that tie companies do not
comply with the acquisitions Of the law II deciding to
the State the rst two hundred aud forty sections oil
land or in giving TO the State "an Instrument pedg-
ling tho net profits Of the road for the payment Of
iuteresi," neither is il claimed that any OF the com
psuies restso ian amount Of frs. mortgage bonds
corresponding 20 the State bonds issued" The only
question IL. as 10 whether the amount Of first mort
rage bonds .sued by the companies, shall be Limited
10 the DUN, given to the State, or whether they shall
have the right to Issue amount Of bonds correspond
ing to the estimated cost Of the road aud out OF this
amount. Give to TIE State such portion shall CORE
spond to the amount OF State bonds received. The
Governor required that there should he 40 I" fro;
mortgage bonds" except those going TO the State.
The Supreme Court Of Minnesota has decided that the
Governor was wrong in that railing. And have very
little idea that the world is coming to end in conse-
uuenoe of tlat DECISION. This IL the whols of the
''rolroad srirdie az Maaesotc,' over which your
correspondent fos furiously Now if he or any
one sse can find in ali this the most rerbote intention
10 "swindle, be viii find what does not exist.
But he further says: Ii lie enough for the purposes
" of this letter to say that they Che Railroad Com
"psnef low refuse to execute to the State the first
mortgage bonds called for by tho act, but propose
"to issue t5rcH{y-ihree millions Of inst mortgage
bonds, &c.
Now. Il would seem from this that the Companies
were COMMUNICATING w concert and issuing the.
bonds jointly whereas tho fact 49, there Is 40 combine,
ton nor concert between them. Each COMPANY WILL
suc bonds eccoId.ug to ;hc estimated expense Of con-
strucirg is line Of road, aud this Of course must
vary according to distance As 10 the statement that
the" Con gaaes propose 20 tssgs trCDf stloc asiioES
Of inst qo7fgGgc 5onds" the writer IL either fooled
himself or be dc ibcrately tends 10 fool the public.
IN the next place, your correspondent becomes pro-
photic and prccicts that the State cann"t pay It's
interest and is cert ain to incur that most unbearabe
Of all REORGANIZATION. That any citizen OF
Minnesota should write that scnteocc can hardly
believe 1t is vile bird that defes its own nest;
ard that any citizen Of Minnesota stouid allow his
partisan feelings TO carry lin so low as TO predict the
disgracc of himself and his fellow Citizens Is too noD-
strous for belief When New-lori and Massachusetts
shell rcpidioie then look out for rcpudation 10 Mn
pesota but not till then. Her two hundred eod til 7
cnterprsing and intclgcn: classes Of Ncw-England
ard the Middle States. Her soil aud climate are IN.
surpassed by that Of any State in the Cnion and
curing the past season. young as che ~, she has
exported hundreds of thousands Of bushels OF gram
and many millions OF lumber to supply The demand Of
| her sister States.
Is Il said that Minnesota has suffered during the re-
c. nj financial pressure So has Wall street. Aud
when the millionaire of New-YOrk can compromise
at twenty-five cents on the dollar, you shonld give
credit 10 tho noble in Mnnesota who, with
smaller mears, have stood tho storm unhnchingly;
ard also to thcse who having been obliged to suspend
for tine at struggling, and that aucccssiuly,
( ito pay their orc hundred cents on the dollar.
Rnt there few in Minnesota, am cory to say, a.
vel Ms in New York who seek to levy black mail On
Il ose whom they think they have the power to ndre
-men who advoca ID the Loan bill with the hope OF
roward-but failing to turn any portion of the state
Loan from its Legitimate into their own pockets,
they become tcsty and yengeful. Such are not the
men who honestly opposed the loos. After hey had
seen that the people called for that measure by vote
of more than three 10 one they at once cquiesced IN
that decision, and their uniform language has been
Let our property be taxed to pay the interest," and
7,ync,pa if necessary, but let Minnesota talk
I" OF repudation." but no intelligent man there
thinks that that will ever be necessary. The re-
sources of the Companies will be abundant TO save the
State from loss. But Of that hereafter.
Yourl, respectfully, MiNNkooIA'
htr.I s.. Nov. ~, 1855