Saint Paul weekly Minnesotian., 1859-12-03

rocious crime to tell the truth about public
matters and also that the capitalists Of New
York are such set Of 'greenies," that they
would have went it blind, and promptly shell
led out their money at the first exhibition sof
his great talents as a negotiator, and that too
without first minutely in going into the cha
acter Of the whole affair and intp the dispoSi.
ton and ability of the people to pay the prin.
cipai and interest ON the Bonds, even though
neither the press nor private letters h,d 20
airociously interfered to trip him up o
salve to wounded vanity /! 81
But why don't Mr.. Sibley be a little hon
est in his history Of this affair 2 Why don't
he tell the people, that the document that was
most prominently and Indignantly thrust un-
der ms nose, by the New Yorkers, vas copy
Of the famous Anti Tax Pledge of the Sixty,
the original manuscript of which is in our
possession--in which paper the State and peo-
pie were sole,nnly pledged against taxation at
future. time, to pay the interest on those
bonds Wasn't i. that chiefly which so ''ren..
dered nugatory and vaiueless the aid voted
by the people? ?" ss.a,. -~as.ta.. 80 Z SIS.
"Destrcy the credit of the stated" Could
| anybody destroy that which was not Could
any representations, by letters Or the press,
destroy the credit of the U. States, orof New
York or Ohin, unless the truth was told, and
it was damaging? ,.... ... .a.. -.a.. q b,
Our Moccasin friend, Mr.. s., means, We
suppose, the MIssEsorIAN in particular, when
ne speaks of the press" If he does, then
all We have to say is, that We have not a sin
gle regret to express for our past course. On
general principles it is better State Or Cor
poration should have no ''credit' in the mon
ey market of the world, to tempt to reckless
, public cxtravagance and to wild and prema
ture schemes of i,ternat improvement, by the
facility which that credit gives Of borrowing
money that must have bitter paymen. event
| lily, out Of the sweat and industry of the
laboring people. ..... ...,a .
But in the special case on hand, in regard
to these Bonds, we claim that we deserve the
gratitude of this generation Of the people Of
Minnesota, if, by any exertions Of ours, We una
terially aided to cut short the Swindle in its
mad career towards success and realization
| to keep the Swindlers on a short allowance of
funds; and to bring about that condition of
affairs under which with the Bonds nearly
worthless as they are but yet mostly in the
hands or under the control of first parties
| q settlement of the whole Failure" as Mr..
Sibley calls it, may be the more easily reach
ed, through such Compromise as will be least
burdensome to the people, least profitable to
the swindlers, but adjusted on a basis of eq-
uty and fairness to innocent parties, who put
their labor and money honestly into the bro
| ken concern. "lfthis be treason, make the
most Of it, ....r
MR. SIBLEY MADE AN ARRANGEMENT" s.
On one point of his extra official visit to
New York to exhibit the Executive Of the
State shining it around Wall Street to get
off doubtful Railroad paper upon the stupid
! people of that locality, we did think he would,
| if only for shames sake, and his own credits
! sake, refrnin from referring to- This was the
| famous arrangement" he made with Wins
! low, I.anier & Co. Of New York to ''nesoti-
, ate % the Bonds--by which negotiation the
| Companies wsuld have realized about p cents
on the dollar, net besides ia ing the whole
| Railroad operations Of the State at the urre-
strained ne:cy oft.leSe capitalists! Mr.. Sit-
| ley, however, has veniured to ailude 20 tt
! little biindly, to be sure-aS fellows:
Although an arrarSement was made BY
me oil the part of inc companies, wisn lead
| ng firm there, winch ! have every reason TO
| believe would have resulted in the sale OF the
bonds a, a fair price, il did not meet with the
| assent Of some o. the colIpariee who believed
| they could effect 4 sale at hig cher rates, and it
| was consequently declsred null and vnd"
| Sly Dig At rHs COMPANIES FOR NOT AGREEING
10 HIS ARRANGEMENT
! Mr. Sibisy evi ently does not Ike the inl-
| pu;ttiM the Companies cast upon his
| shrewdnesS as L negotiation, by their refusal
/, accede 10 his precious arrangement y"
| 80 he very quietly disS In" them With Gi,e
intinas.on. thai they Went farther anu iIl'ed
worse. unfortunately" SAYS our Sibiey,
"tnc>e antlcipa,ions Iof higher rates. have
not been realized He likewise conttsses
for them that they were without means or
capital to build the roads
TIE RAILROAD COMPANIES HAVE ALREADY De.
FAULTED.
Read, however, his own language, with the
important announcement that all the cOlnpa
nies, except the Southern Minnesota, have al
ready dcfaulted in the payment Of interest Oh
the Bonds: -
Unfortunately, these antci ,,ations have
not been realized, aud the companies being
POSSESSED of little Or no means oi their own,
nave depended mainly upon their roads,
Unable now to raise money upon their bonds,
except ut ruinous rates, and even to release
many Of them hypothecation all labor on the
roads has been suspended, and the compan
les have not the means to meet their engage
ments t. tn 'se to whom they are indebted,
nor with the single exception Of Southern
Minnesota Company, to pay the December
| instament of semi-annual interest On the
State Bonds they have received.
With this climax, that the Roads are now
in default, and that the whole question is now
fully before the legislature and the people, for
settlement, if settled it can be, We defer un.
til to. morrow, further review of the Message
The state Canvass to-day.
The House Of Representatives, with the