The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1858-04-10
The FalsehOOds Of the Loan Advocates
What Other States have Lost by
Loan ng their State Credit.

The Falsehoods Of the Loan Advocate,
What Other States have Lost b!
Loan ng their State Credit.
In the St. Paul advertiser of Saturday tn,
81 inst, appears an article-whicll the Time
Of Sunday also copies-in which the ugly
words "Lie" and Liar" are flung at the Min
nssotian by the handsfull-the notes rung ou
by this Adrertissr Tyre rangin G from "Lie No
PUP to "Lie No. 1,OOO,OOOl." We would
inform the editor of the 4A3vertiser that ou
equanimity is not in the least disturbed by
his vituperation. We understand and make
every allowance for his idiosyncracy. The
froth arising from the chemical union of &
strong alkalie frequently passing along his
tongue and mixing with the sub acid of his
system, is we'll known to be necessary to dis
tend his peculiar intellect and prevent it from
collapsing Without this stimulus, his
friends are aware that he becomes as nerve
less and helpless as an old man Of seventy
and as one of those friends we do not blame
him, in the absence of any other object, for thus
seeking to recruit his exhausted nature, even
at our expense-not any more than we hold
his ally Of the Times responsible for the raw.
ings which his blr:hright Of partial idiocy
compels him so continually to infict upon the
unfortunate readers of that paper.
But while we are disposed to be thus a
little charitable to the .4dUertiser and Times
for their lying and billingsgate, as indulgen-
ces demanded both by the exigencies of their
natures, and the requirements of their peck.
cts, we feel no disposition to be equally len.
lent to men who haven't these excuses to
plead for their falsehoods and misrepresenta-
tions in carrying on the argument upon the
propriety of the People ratifying this 5000,
900 Loan to the Railroads. To illustrate, in
the last .4drertisr we find the folio wing false.
hood paraded in capitals, and repeated in va
rious forms, throughout the verbiage of that
number Of that paper:
4" Mark it u-Note 1t !!-Ponder IL We'll y!
w"NO STATE HAS EVER LOST DOLLAR BY
LOANING HER CREDIT TO ASSIST IN WORKS OF
INTERNAL IMPROVEMENT"
This unqualified .falsehood first appeared in
the Reputation Address signed by the no.
torious sixty Senators and Representatives
in the Minnesota Legislature, who voted for
Five Million Loan Swindle. 1t was then
adopted, and published as their oen by the
Pioneer and Times and .Advertiser, in the ar
ticles written by Mr.. HoLLINsHEAD or j.
W. TAYLOR, and endorsed by the editors Of
those purchased sheets. AS we intimated
above, that these papers should publish and
endorse this unbLushing lie, is not surprising.
They are in the habit of lying gratuitously-
who then would expect them them to do 9TH
erwise when they are paid for it by the hund-
red! But while we express no surprise at
this often repeated lie by these papers we
confess we were taken a-back little to find
this same infamous lie paraded to the world
over the signatures of SIXTY Senators and
Representatives in the Minnesota Legisla-
ture!
We should have supposed, that even if
those men had no self respect, they would
have some for the constituency whose conf
dcnce they had abused.
Apart from the intamy of concealed and
leagued lie. the unadulterated ignorance and
stupidity of these men, if the lie was not a
concealed and premeditated one, is disgraceful to
Minnesota.
Not only is the broad allegation above
quoted false-unquali6edly false-but the con-
verse of 1.-THE opposite-is ABSOLUTELY true
There is not State in the Union Dhich has loan
ed its credit, and where the loans have ma.
tured or been paid at ali as yet, BUT HAS
PAID A PART OR THE WHOLE OF
SUCH LOAN!
Hence the clause inserted in all the
State Constitutions made or amended in the
last dozen or fifteen years, prohibiting the
Loan Of State Credit to Railroad or any 9th
er KIND OF corporations.
In the State Of New York, out of loan
of State Credit to TEN different enterprises
in the .fopr which have matured or become
due, the State has lost the ENTIRE LOAN, ana
interest for most Of the period. The article
from the New York Tribune given yesterday,
proves this to be the case. TO recall it to The
minds of our readers, We again quote part OF
the TriJuue's remarks, as follows:
"An address from the friends of the Loan says:
awe found, also, that other American states had
loaned their credit for Railroads. aggregate amount
of not less th pc hundred millions, often with less,
and never wsgk3nbre security than required; and
there is not single instance record aohere DOL
Tar of tardtion has been Leried or paid THEREFOR"
We don't wish to NEEDLE in the local controversies
Of distant states; but truth TRUTH and the above
ment is something else. Our State loaned Three Mil
lions the Erie Railroad and had to assume and pay
the loan; ditto with regard to q smaller loan of her
credit to the Ithaca and Oswego Road ditto 1--WE be-
ieve) with regard to the Hudson and Berkshire Road
Other States have had similar luck Still others are
bound to fare likewise in the future 1t may may not
be the interest of Minnesota shoulder the pro-
pc ed Loan; think ii as not; but let her any
event imagine such loan mere matter of form but
understand that running in debt, security for
others, INVOLVES at least possibility of being required
to pay And if she IS called on, let her resolve
to sully her name with Reputation"
But this is not ALL On consulting the
Statutes of New York, and her State Docu-
ments, we gather the following additional
proof, viz:
An act to aid in the construction of the Canajohari
& Catskill Railroad"
SECgIoN l. The State stocks to be issued to said Com
pany shall not exceed 100000.
SEC. 4 makes it a misdemeanor to apply the money
obtained from the sale the State stocks to the
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