Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1859-10-04
LETTER FROM MINNESOTA.
Correspondence of The worcester Spy.


lance, SO that have presumed your Massa
chusetts readers are not Indifferent about it.
Besides the general issue of free labor against
slave labor, the fight is intensified and brought
home to every man by focal matters of imme-
diate and vital interest.
In the spriag of 1858, chiefly under the lead
of the pretended Democracy, the state of Min
nesotA, upon conditions and securities then
generally thought sufficient, voted to loan its
credit to the extent of $4,000, 900 to the sever
al companies which then, by charters, had
possession of our munificent land grants for
railroads. These companies, having expended
only about $4,000 upon the roads, succeeded
in obtaining one half of this loan, to wit.
S2,500,00O in the shape of State bonds in
which the state is payer and the companies
are the payees, due several years hence, and
drawing per cent. interest, which interest
is payable semi-annually. These bonds, on
account of the suspicious character of the
companies, and the manner in which
they had proceeded in the premises,
fell dead at once in the money market. Mean
while, the aforesaid Democracy, by trick
and fraud, got our banking law SO amended
that these bonds could be received as bank
ing basis at any price our Democratic Govern
or Sibley might determine, and he decided to
so receive them at 50 cents on the dollar
| when at the same time they were worth in
New York only 80 cents. Then followed, of
coursa q dood IF wild cot ,oonav R,y orao+
effort of the banks this money was put in cir.
culation at par, but soon fell to 80 cents on the
dollar, where it now stands, and the 70 per
cent. depreciation has been wrung from the
family of the poor settlers. And now the
bonds, those of them which are not being
banked upon as aforesaid, are mainly in the
hands of spectators, money sharks and har-
lots, who have paid for them very little honest
consideration. An instalment of interest on
the bonds soon falls due, and it is not expect
ed that the Companies can or will meet it, as
they were bound TO do by the terms of the
loan measure, for the companies have always
been insolvent
Now then, the Democracy say, tax the peo-
pie at once for the payment OF principal and
interest on the bonds, and thus make them OF
par value. The Republicans say no: the
state shall hold the companies strictly to the
letter Of the loan measure, that the state
shall pay nothing on the bonds till the
companies, by their own default shall have
fully forfeited to the state all their prop
erty and franchises in the roads; and when
thus these rotten companies are cleaned out,
then the state will look after its bonds and will
pay to all bona tide holders thereof all that the
same honestly cost them, with interest on said
cost from the time of purchase The Republi-
cans further say and believe that, should the
Democrats, by their scheme of immediate tax
alton, bring the bonds to par value, the COM
panies, together with their confederate bond
holders, after paying off the actual expendi-
ture upon the roads, to wit, the sum of $780,
900, will proceed to pocket the remainder OF
the s., o00, 900, to wit, the sum of 81 800 000
and will surrender their charters and let the
state whistle for its railroads. 1t should be
said that considerable number of Republic
cans on the line of the proposed railroads are
SO involved with the companies that they will
probably support the-Democratic policy of i'm
mediate taxaJH5n. Not so, however, with the
great body-Of the people. When party pro-
poses{0a settler in our "big woods" with his
-lSlf dozen acres cleared, and his SO per annunl
cash income, to take SIS out of this $40 by
way Of taxes, for once politics to him are not
mere abstraction
Again, considerable portion of the public
land in this state is occupied by settlers who
have not yet pre-empted. This land was adj.
vertised by Buchanan to be sold the last day
of next October, thus compelling the settler to
pay for his land before the day of sale or lose
it. Quite recently this sale has been
postponed, but the postponement is only in
part and to no day certain, so that the post
ponement is not at all satisfactory In this
connection also, the homestead bill enters
largely into the canvass; and the Democracy
here, writing under the odium which at
taches to their national party for its course re-
speeding public lands, claim to be Douglas and
not Buchanan but while Douglas has their
platform, Buchanan has his share of their cam
didates
Such are the issues and the Republican
side is not wanting in men to present them
Grow, of Pennsylvania, is with us, and for his
advocacy of free lands his name is legion
among the pioneers. He is not Of the square,
heavy, Dutch style [ anticipated, but is a tall
slender, dark-vlsaged man, with high narrow
projecting brow towering above two eyes as
keen and firm us one often sees. He is evil
IDENTITY of fine texture and much culture al
though his style of phrase and delivery is too
nervous, intense and graceful, yet he is never
awkward. Last week, in one or two of our
back towns, he addressed an audience compos-
ed wholly OF recent settlers upon public land,
who, Tor months have been in distressing
doubts as to whether they should lose their
homes, and some Of whom came with their
wives 20 miles to hear Grow; and could you
have listened, as did, TO his tervid scathing
rebuke Of the great southern land monopolists,
yon have thought as did, that then and there
was not an occasion, or a man for she produc-