The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1858-02-20
Meeting at the Capitol.

Meeting at the Capitol.
Col. ROBERTSON called the meeting to Or
der, explained the cause and int ntion of tn
same, and stated that this evening would be
devoted to the speeches of those opposed to
the measure. Its friends would set another
time for their arguments. He nominated
VIM X. Marshall, Esq. as Chairman he was
thereupon chosen as such, and on taking his
seat, introduced the first speaker OF the even
ing;
Gov. GoRMAN, who said that the large au-
dience showed that the public pulse respond
ed to the objects of this meeting. 1t was but
q commencement The question would yet
be fully discussed. The views he was about
to express were opposed to his private inter
ests, as many of the audience we'll knew, and
vet when he beard it first mentioned, he
gave it his unqualified condemnation.
Political economy he, said, commenced
with our social existence. 1t was no Ordina-
~ event to add new State to the confeder-
acy TO found new Empire, to add a new
nation to the world. Such is the position
we occupy now, one Of Importance, and full
of responsibility. We are standing on the
threshold of the Union, not yet admitted,
and we are proposing to give aid to these
Railroads: the first question that arises is.
Should we do it now To pay any debt now
is all wrong; but public necessity requires it.,
say they requires that now in our infancy,
we burden ourselves with public debt to
aggrandise these corporations.
Is 1t policy, to change the Constitution be-
fore our admission. The great principal was,
popular will must prevail (Applause.)
The speaker then mentioned what would
be said, should this be done, at Washington,
when 1t was learned that already we were
about to alter that constitution we had only
three months ago adopted 1t would endan-
ger or delay our admission into the confeder-
acy. We had enemies, he was sorry to say,
at Washing ton, who would use it to our inju-
~.
Next. it was premature, debt of any kind
IS premature now. Many members even sup
pose the present Legislature is illegal.
This fact will dlscredt your bonds This
should be reason for not urging this loan
measure now. Railroad men should stop,
in his estimation, when there was a debt on
the bonds which might depreciate their value.
de would tell the Legislature to be careful
how they acted in regard to this measure
Your whole system of Public Economy
for ten years will bear the impress of the acts
of this session, and your Finances, and cred
it abroad, will be affected by it. The good
TO be obtained would scarcely overbalance
the risk the State would run in assisting the
scheme. He would not say that the people
did not need Railroads, but it was too soon
now to attempt to build them. We had not
population, property enough, to justify such
a measure to build them.
lie mentioned the terms of the bill, and
Its provisions, showing that there were no
ildemnifcations to the State against loss, and
detailed course Of policy to pursue in the
matter.
The bonds conld not be negotiated, he said,
unless provisions were made for the extin-
punishment of the principal, which was un-
provided for. The securities mortgaged to
the tate was the naturalization offered.
What do you mortgage? Land There
are not 10000 acres on all four of your roads,
in continuous 20 miles. What you have is
refused land, rejected and worthless. He
enumerated several roads that had almost no
land, under the terms of the grant, and could
not consequently indemnify the State against
loss, and ifthe State sold this proposed mort
gage, what do you get for it?
But the Railroad men say give US the So
100000 and we will build Is or 20 miles,
All you want the $5,0OO,OOO at once, do
you? (Applause.) The bondsmen are very
respectable men, but are out of funds now.
(Laughter.) The grant act says the Land
q nj <boxy T. ALL
land which does not lie in the line of the
roads, and call it their own.
Then you say that you will mortgage the
road bed That's an interesting piece Of
property, to be sure. Laughter.) If you
can't get money enough to pay the principal
can you pay the interest. You say the nett
Profit of your roads will do this.
You can't pretend that you will derive
anything from the first 20 miles of your road,
should you get it into operation.
The figure of the Devil on the Mount, who
was SO liberal in giving away property he
had not, suits these Railroad men exactly
(Applause.) You tell US you can't do any
thing without this aid, but you should OF at.
tempt it now. You call upon our State with
its feeble population to impose this tax upon
thnms elves, to aid now. You offer no indem-
nifty and security, because you have neither
to give.
He cited the words of Mr.. Strong, show
ing the reason Of the crisis. He said we had
expended S36O,OOO,O0O in paying interest on
our Railroad bonds held abroad, in foreign
countries-the mere interest on these bonds
And now, as to the policy of loaning State
credit, he would show that several States, in
remodeling their constitutions, had forbidden
loaning their credit to any institution. He
quoted several authorities, and mentioned
Maine, New York, Maryland, &c., to prove
the views held in those States, and showed
the ruinous effects which ensued from loan
ing State credits and the alarm of the people
upon such measures, which experience in tax
paying has taught them to avoid, as a burnt
child avoids the fire. (Laughter)
He had as great hopes in the future of Min
nesota, as any who were now urging this
measure, on account of the future before u.s.
But we could not accomplish this work, I'M
til we have enough property and population.
Florida had declared against loaning cred
it. Alabama had had her fingers burnt by
it also. All these States, in re-modeling their
Constitutions, had prohibited it. So had
Kentucky. So had Ohio, and had now linn
tied her State debt to $4,000. Indiana
was also mentioned, and Missouri had loaned
her credit, but the Governor had refused to
sign the bonds, as he hoped ours would if the
measure passed. (Applause.)
Thus all States, from the oldest to the
Youngest, had declared against State debts.
50 had our own State gone unanimously in
her Constitutional Convention, in favor Of an
anti-debt clause, and now, half year after
forwards, the representatives of the people
come upland want to change it, because it can
be easily done. He had said before, that
the amendment clause of the Constitution
was its worst feature, and it would yet be
seen.
He then read from various documents
showing the amount of State debts in va.
rious States. Minnesota was not down; he
would put her down $5,OOO,OOO, thong h.
(Applause.)
Ho ohoorvod o1co tho raf;o of xo,,,I.+:o,