The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-12-02

GOV ERNOR'S MESA GE.
EXECUTIVE OFFICE, MINNESOTA,
ST.. PAUL, December I, 1857.


regard brevy consistent with full exhibit of the affairs
of the state.
State of The Union country well the nations of Eu
rome was ring from the effects of financial almost
dence had been shaken to its foundations abs
uey DESTROYED and State with the other portions
egn so essential to the development our
in value Of the taxable property infant
their funds real estate were
umbemen failed receive adequate return for their labor
to they
ed yield But for the strong and abiding faith of citizens
upon knowledge they of the fertility Of
SOIL the aubry of climate and the advantages OF her geo
renee of adverse still great
scarcity money this State but the somewhat d.
arcuturss other States
large amount of their surplus grain and we have every reason
will that onward course prosperity which mas oeen
porarily interrupted.
remedy to the gloomy state OF things then EXISTING anu
dte the time the works those Rail Roads Tor which
caused the former by act and the people subse
quen election adopt overwhelming majority of
Land Grant Rail Road of regret to be
obliged that the has failure has by
for the issue of safe of aiding the Companies
in the completion of the work the roads For full under
standing of the subject 1T will be requisite for detail with
particularly the events which have transed connection
with the of the State Rail Road Bonds the Companies
the to which their depreciation value my udg
ment is attributable. q
Soon after the adoption of the Loan Amendment SO called
the Companies the work upon respec
Upon the application for State Bonds for labor actually
performed in compliance with the law felt it my duty to place
upon record my language the amendment
and strict compliance the part of the Companies
State be accordingly prepared
deliberations and placed the Executive journal on the 4
of August 1885, conditions upon which the State Bonds would
be delivered copy herewith transmitted the com
panes respectively informed of their precise tenor bee
ed then still believe that when the people voted the State aid
to these companeshey intended and expected that she would
return the exclusive first mortgage bonds of these COM
panes to equal the State Bonds received by them
giving priority their entire lands roads and franchises
State The Companies objected this construction
upon refusal issue the State Bonds to them
Writ of Mandamus applied for to the Supreme
Court the Minnesota and Pacific Rail Road Company compel
me to deliver the Bonds of the State without exactng the
exclusive mortgage bonds OF the company in return desired
the Attorney General aend the part the State and the
question ably and deliberately argued him before the Sn
preme Court nevertheless the majority of that tribunal decd
ed that ruling and that the state oy he own
first bonds of the companies under their deeds of
and could therefore legally require an exclusive priority of
questionable my mind whether the Supreme Court
sessed the but the @ OF hns
directed the Rail Road Companies would probably consent
then apply to the Supreme Court be
ready decided be illegal obligation imposed them the
would exposed to complications perhaps
dangers therefore submitted to the Writ directing the issue OF
tween Companies by proceedings
the first blow the market value of the bonds which, under the
decision of the Supreme Court began be regarded with suspicion
The several Companies having received the State Bonds due Them
attempted to effect their negotiation in New York City, but
unsuccessful and at their solicitation and prompted by
public duty visited that city, and several weeks
the endeavor sell the bonds that the Companies might
the with the work their roads, the
speedy completion of which desirable and the
State herself do dorbt that these exerons would
with the determined mschevous
efforts portion of citizens through the nstrumentay
ofh press and of private letters defeat every attempt sell
the Bonds and render nugator and vaueess the aid voted
by the people of the State without distinction of
Raj in the
of the country where citizens have deliberately
undermine and destroy the of
own State the adoption of the Amendment
eg and for its to strive its de-
feat means, but when it became settled
policy OF the State theduty OF every good citizen to lend his
influence carrying it out possible to successful conclusion
be regretted that these far effect
the negotiation of the bonds New York
although arrangement made by the the
.ompanes leading firm there which have
believe would resulted in the sale of the bonds
did not with the assent of the companies who
ieyd they sale at higher rates. and
null and void Unfortunately these antcpaons
have not been realized the companies being
or no their have depended mainly the State
aid enable them the work their roads,
their bonds except runous
and even release them from hypothcaon all labor
the been suspended and the have
meet their to those to whom they
dete with the single exception of the Southern Minnesota
the December nstament OF interest
on the State Bonds they have received.
the Legislature approved August l2 1853 required
the Companies deposit with the Treasurer of the State
xv DAYS upon which the
such with the expenses but
examination and consultation with the Attorney General
satisfied that the act concted with the terms the
amendment which only made incumbent the Compan
s to pay interest the State Bonds issued them