Red Wing sentinel. [volume] (Red Wing, M.T. [i.e. Minn.]) 1855-1861, 1859-06-25
MI IN ESliIAo RAILROADS. .Wn Al
-. I 'SyTo BECOME or THEM.

It was we'll known that notwithstanding
the liberal grant Of lands, by Congress, that
minnesota Rail- Dads could not lie consi ruct cd
without the aid Of the State credit. The hard
times. and lack Of confidence in, Railroad
securities, together with tile fact that, the
time fir the construction Of the roads was
limited in the grant ,nadc this fact perfect
" clear. Therefore the loan of tic State
credit was voted. This loan has, notwith
standing the almost lIcrculanean labors of
The friends Of the railroads, unfortunately
been rendered worse than useless, princi.
pally on account Of the treacherous and re.
vcnsc!nl action Of a clique, Of Minnesota
politicians; whom The, Legislature saw. fit
TO leave outside Of the ring, in incorporating
her Railroad Companies and .dixposing Of
the grant. Their efforts prevented the sa::
of'he bonds, even after: the salo Of them
on exec dinghy favorable teams had beer, me-
sotia.ed, and the contract drawn, ready for
execution Falling IN this, some Of the rail
road companies after much dsIibera:ion CON
cluded shat the loan might be made available
AZ a basis tor q home currency under the
Minnesota Banking law, It was believed
.hst a strong and combined effort, on the
part of 'our business men, 10 sustain the
State credit, would make paper issues, upon
them correct and safe. all felt that they
must sustain the State credit, and the most
reputable Of our ko.nc banks gave the plan,
their assistance, and bought and sold it as
sound SCUM and. correct None, This gave in
Simultaneous and: needful r. lief, and could it
have been continued until che, roads had suf.
ficicntly progressed to render their lands
available, the plan would have been SUCCESS
fql. But AZ before, We had set Of money
shaving harpics At homo, WHO had before
prsyed upon tho community by scattcrin.
worthless and fraudulent paper, which COS.
them nothing aud was only secured BY their
sndorss men', which business . legitimate.
homo currency, put an end to. These ras-.
Gals with the aid Of the, iNinnes,tien--an or
gan sustained snd kept in existence, by them,
for the purpose OF decrying and injuriug
Minnesota currcncy--have to all appear.
ances succeeded, and now we have the
question open again, what stall b. done to
build our railroads !? About ons million Of
dollars Of these l'ontls ihpyc shspr. issued,
.'fhe work on The s.roals has bvs.. mostly
discontinued, with no prospect OF being re.
ss,ne..,J We arc dtt agreed that tho rail-,
roads must, i possible, b finished. That the
State credit must be sustained. The next
Legislature must settle these questions.
It is's''s:syastetl tlatithc companies should,
and will fdsanstl most, expedi. Mt surrcn-
der their csAftess fs11 rho State 60 on with,
The '9aork. eve don't 'sss hov that i~;l, help
the case: AsStato sen,6aiki6g IN such c.n
enterprise opens tie doof for every species
Ioe fraud, corruption and 1f.soolliilism', and
||wlls' . is the. 5:.,s 70. got. the necessary
''nonaysor credit. With ths bonds alrca,ly IS
sued to bc paid. 1t could tios 40 ii. 4 l,u:
u ,o'e'a tax to inset the interest upon the
.D;onds, would give ,tllowe already ISIS ed,
market value, cqi,al To- their face: aud make
l!hsRe. reliable l banking securities dnd prvta.
'hy ensure the s sale q vs. whole "a: 1.iry
terms. W,c'n seq no othars Yax 10 arrange
this business. Our difficulties SHOULD he
looked Snuarelx in tie E,cs thu. ..a,o