The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1859-11-19
$4,000 OF CITY BONDS.

sition authorizing theCltV or CounciI b!uus
to subscribe the sum Of S2j, 900 to the Capt.
tai Stock of the Council Bluffs and St.
Joseph Railroad. This long moo.ed propo-
sition is now definitely before the voters of
Council Bluffs for their consideration and
subsequent action. What will be the re-
suit of that action, hardly admits of a doubt.
A grca. majority Of the people Of this City,
in our opinion, favor the issue of the above
amount Of bonds to the road named, for the
purpose of materially aiding in its immedl-
ate construction. But, while we admit thus
much, We very much doubt, whether the
conditions precedent to such an issue OF
bonds, as set forth in the ordinance sub
uniting the proposition to a vote OF the
people, are such as to command their hearty
and unequivocal appreciation. Neverths-
less, our doubts in the premises may be
totally unfounded. To our mind, however,
there is too much leeway given the Railroad
Company-as careful perusal OF the ordl-
nance must convince any one not carried
away by his zeal.
For instance-if the City vote to take
stock, all that is necessary to secure the
issue to the Company of the entire amount
of the same, is the ''affdavit Of the Chief
Engineer" setting forth that like amount
has been "actual!y expended in the con.
strucsion of said road" The only other
condition, is that no Bond shall be issued
until ga certificate Of stock shall be issued
and rendered to said City, equal in amount
to the City Bonds, as required by said Com
pany, be issued to said CITY," The City is
left entirely at the mercy of the Chief Engin-
Ger of the Road. Upon his "athdavt" the
Bonds must issue, provided, only, that q Ger
,i6sate Of stock for tho amount is rendered
to the City by the Company.
There would seem to be but little use of
playing against such hand as that. We
will get eurhred as sure as we discard our
caution-the best card, by-the-bye, in the
deck-and take up the trump turned By the
Common Council. Why just look at the
proposition in an analytical light! The
Company might expcnd So, 900 on the road,
and, upon the "niGdnvt" Of the Chief En-
gineer, and the tender Of a certificate Of
stock to that amount, procure the issue Of
our bonds. Now, supposing no more work
is done on the road, who is the loser ?-not
the Company, but the City! For the first
outlay of SIS 900, this City is thus made the
sponsor, without any ndemnifcation against
loss, but the Certificates Of Stock for which
j. exchanged its bonds. To the amount Of
the Bond, issued by the City, the Company is
secure from loss. The position Of the parties
to this contract, should be reversed. There is
no kind Of sense in making. this City the
scnpo goat of Railroad experimentors.-
None, whatever.
Again, it matters not upon what section Of
the Road tho Company expend their money
the Bonds must issue to the full amount
voted, upon the " affidavit" of the Chiof
Engineer, that like amount has been
expended by the Company in the construc-
tion of the road. The Company may ezpend
its money in Mills or Fremont County, but
our City Bonds must issue upon the IS aili-
davt" of the Chief Engineer.
If the company obtain the aid of Mills
and Fremont counties, upon the saae liberal
conditions. they can expend the whole
amount thus voted, without putting into the
Road o single dollar otherwise Obtained
Thus making this Railroad Company moth
ing more nor less than disbursing agent
for the counties of Mills and Fremont, and
the City of Council Bluffs.
We don't ike the terms proposed in the
ordinance under consideration. 1t is too
much like the proposition, said to have been
made by a certain white man to certain In-
dian, in dividing the rpoils of u hunt. The
white man said to the Indian" you take
the buzzard and I'll take the turkey; Or,
Pll .ako the turkey and you may take the
buzzard." The Indian complained that the
man did not say "turSey" to him once. Soul
less corporations are asked to furnish sup
piies,to aid in the completion of an importar
work, but no indemnity is vouchsafed them,
that in rendering such aid, impositions will
not DO practiced upon them, and they made
the losers thereby. This proposition is by no
means fair or equitable one.
We say now, as we said last week, if
Council Bluffs is to vote q subscription of
$25, 200 to the Capital Stock of this South
crn Railroad Company, the terms upon
which the bonds should issue, should be such,
that the completion of the road would be
secured to the State line, beyond contingent
cy, in eighteen months. With this under
standing made good by the action of the
people of Mills and Fremont counties-we
presume there would not be single voice
raised in opposition to an issue of So, 200
of Bonds to the C. B. & St. Joe Railroad
Company, by the City of Council Bluffs
The proposition now submitted to the con
sideration of the voters of this city, does
not secure these ends. Hence, we conclude
it is the duty Of the citizens to giveita wide
berth, and get something that will answer
the desired purpose better, before voting a
bonded debt of $25 200, upon the City,
for ten years.
WILL DO.
Two years ago, by the aid Of forged re-
turns, fraudulent and Indian voting, the
Republicans Of Minnesota were left slightly
in the minority. This year. however, the
swindlpg game was effectualIy blocked, and
the Republicans arose in their might, and
repuliated the brcech-c'out Democracy'-
The Republicans succeeded in eIecting all
the State officers, by majorities ranging from
four TO Eve thousand. Not only that, but
the Legislature is Overwhelmingly Re-
publican. In speaking of the newly elected
LEGISLATURE. the Saint Paul Minaesofian,
says: "The Republican majority on joint
ballot is certainly As! with 4 seats OF
Democrats contested. The probabilities
avn thu, opr majority will be So On JOINT