Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1858-10-21

DsA Asssmesss.
The enemies of the Railroad loan
are continually harping upon the 'Ac'
that the loan TO the NJ. h NJ. K. K. Go.
!. unnecessary, because the law com
pel. them to complete their road With
in a limited time, or forfeit their isnd
grants. This argument. is about Is
,en.ible and - reasonable as We might
expect to find coming from the je"
who oppose the loan. Suppose man
contracts to erect q certain building
within a stated time, for consldera-
ton then to be paid, and after the wo1S
WA about half finished should be I'M
able to complete it in the prescribed
time, without pecuni AIRY aid, or ad-
yauceme nt made by the owner. Would
it he honest, Just, right, or equ'tahe'
to ssy,-Oh there is your contract.
Finish the house by the day, money
or no money, or the contract Is for
feited and you will get no cons'dera'
tioni 1t IL well known that all that
has prevented the completion OF the
N. a. NJ. r. X. is the precipitate tum-
ble-down Of all railroad bonds and
stock during the late financial crisis.
The contractors made their contract
in good faith, and Messrs. Farnam "
Durant have more than q million Of
dollars OF their own money in the
road. They could not sell railroad
bonds at the ruinous discounts pre-
va,ling, and suspension became ne
cessary, law or no law. Now the peo-
Pile want the road completed. The
contractors say "lend us your county
bonds Is basis, and we will csmplete
the work." No, says some, you are
bound by your contract to 60 on or
lose the land" "But, says the Com
pany, 1--WE cannst do it for want OF
funds. We cannot sell stock, Railroad
bonds, or our land. Just let the coun-
ties lend Us their aid, and this desira-
bio work will go through, and then, by
reason Of the value of our lands, and
the value Of our road, our stock will
be at par, and with the stock you can
cancel the county bonds"
Such is the present state OF things.
Shall we, Shylock fashion, say, 80, the
conditions Of the bond fulfill the con-
ditions of the bond =" Such course
: is suicidal. The people want the Rail
road. 1t is for the peoples benefit
They want it constructed at once, SO rs
to have the earliest benefits arising
from its use. Ne must therefore aid
the road hy loan. That loan will be
returned as soon as the road is com
pleted and the stock al par value in
the market.
The fact is that there is no opposi-
ton to the Railroad loan which can
give the friends of that loan any un
casincss. The people Of this city and
county are not Rip Van Wrinkles. They
see that the first city in this State that
shakes off the lethargv OF the late crices
will be the emporium Of the State
They see that by being the FIRST to
open the gates Of this State to capital
immigration, labor and enterprise Da-
venport will be the most permanent
and continued recipient of the advan.
tages that accrue to the State. People
in the east will look at all our cities
observe those which arc aroused to en-.
ergy and progress, cast their aid and
influence in to swell the tide of oul
prosperity, and then can Davenport
with her commanding position main
tain an ascendcncy in the State above
all rivals. The thing will be done
the people have wilcd it, and opposi
ton will only invigorate and strength
en- them in the praiseworthy purpose
sos