The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1859-01-25

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dsslassd . - nl-ined, uaadvissd, wicked, &e.
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tsoe esa1lsisa q ~ rssssssss Of The Corpora
-, cd . 1t The weeld know that e will bs
sassiy iapssui1ls - svss pay 81 he entire
eAosnt q hse isasbseAasss. Whatever may
b eur opinioa u he proposition embodied in
-ahs card Of Mayer Sampls, We ~ any rate ad
1850 hi itanhss0 sad dirsssaso Of sxpoai.
lien.
81. The City o. Ksokuk has had The maalinesa "a
6sslsrs that their cooperate dsbe ssa never be
paid unless the whole amount Of stock owned
b. the City n various Railroad Conpanies,
Which ars ven known 70 be mot worth mill Oh
. dollar, shall b ssceived At their par vslue BY
~ essdisera The proposition b bad enough
certainly, but then il recognizes The debt, and
proposes TO pay part Of il In which respect
h has the advantage over the conduct Of many
ether Cities snd osuaties. For, humilating ~
the confession may be. it is nevertheless true,
that nsjorify Of the Counties in this State
that have iassed corporate bonds in aid Of in.
& sernal improvements, are not only under pro.
tsst for the non-paymeDt Of interest due upon
their Asbta, bat, many Of them eeem, in quiet,
sseskine sort 81 way. 70 wholly ignore the ex-
is,ence Of their Indebtedness. Il may be news
to many Of our readers to b told that many
Of ,hs richest and most populous Counties in
shs 6sase, shas ere burdesed with compare
lively small debt, sush Counties, for instance,
= Hesry, Je0essen and Washington, have
sever provided Ter the payment Of The interest
- examples; not because they are even large
fraction Of thoes that are in the same predca-
nenI The conduct Of Keokuk in proclaiming
lie total indebtedness,- Avowing its insolven-
~ and proposing 70 pay less than moiety Of
he debt, 10 psaiseworthy in comparison with the
conduct Of these Counties
We think the game of running Cities and
Counties in. debt for railroad purposes is played
>ms A ,..a~h s.o.> A,M2~,,lH ana 4. nns t<, ho
played, Wig: that Of cosrcing payment from the
deliOquents. We are. no doubt, ON the eve Of
exciting times In this State growing GU. Of this
state Of facts. The people of the Counties that
are attempting to pay their interest, are organ
izing TO resist the imposition and collection Of
taxes. To this end public meeting. have been
held, and are to b held in Washington, Mus
eatine, Lee and in other populous Counties
The bondholders are preparing to descend upon
the Cities and Counties that refuse to levy taxes
70 pay their interest, with . cloud Of Manda-
NsSsss. Between the demands therefore of the
creditors on the one hand, and the resistance
Of the taxpayers on tho other, We are likely to
have lively times for . few years.
people abroad, in the same category, and alike
denounced - repudiatonisss. They will not
stop to distinguish between the Cities and Coun-
ties that are solvent and those that are bank
rsps. But We beg the Eastern bond-purchasers
to remember that they are as responsible for
this unfortunate condition of affairs as are the
other parties to these transactions. Every man
among them who had sense enough to accumu-
late . thousands dollars to invest, must have
known that . town like Keokuk could never
pay the interest on debt Of 81 800, 900, or new
Counties like Powesheik and Iowa on 800, 900
each, or County like Pottawattamie on $780,
600, or a County like Mitchell on $lb0,0Oo,
after paying necessary municipal expenses.
We have great curiosity to know how the
proposition Of the City Of Keckuk will be re-
eeived by its creditors. Should it be accepted
We imagine the example will be Immediately
initiated by great many Cities and Counties
in this State and in the Northwest, for an ac-
eeptance would undoubtedly be regarded as an
endorsements Of the action of the City Council
and a. an encouragement to similar PROPOSE
ti0ns.
We warn our friends in the Central and
Western Counties to Beware the example of
those east Of them. Do no. believe that a rail
road is the sine quanon of human existenceE
and do not consent to forever burden your
County with heavy taxation for the sake OF
securing one. Taxes are becoming SO oppres- |
sive in some Of the eastern Counties and Cities |
Of the State that emigration is avoiding them
and will continue to avoid them. Do not drive |
population beyond the State aud bankrupt your
selves by being guilty Of the same folly with
your neighbors. Bide your time and railroads
will come to you, tat do not buy their advan-
tagee At runOas rates.
The western Counties and Cities and the bond.
SPECTATORS in the East, have all had fair warn
Ing Of what must DO the inevitable result il the
former continue TO issue and the latter continue
o buy municipal bonds II eastern capitalists
Aie satisfied that the traffic will DO agreeable
and advantageous to them let them continue it,
but let them not hereafter say that they have
never been advised Of ito consequences.
AccIDExr.-A lad Of seventeen years, son
" NJ. Carsteins, had . very marrow escape from
0ensh veaserda MANNING He had hsen ridip0