Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1859-09-10
The Democratic Financial Plank.


The Thirteenth Plank in the Democratic |
Platform, in the matter of our Railroad I'm
brogio does not appear to take in N sections
of the State. In the Minneapolis Plain Dealer
Of Saturday, among the proceedings of the
Democratic Convention held at Anoka for the |
purpose of nominating candidate for Senator |
and Representative in the Oath Senatorial
District, among other resolutions, we find the
following were adopted:
Rssolved, That we are opposed to any law being
passed at the meet session Of the Legislature any
Other to tax the people to pay the interest said
Bonds until the companies shall tail to pay the in
stitution requires, and until the State shall have
exhausted all the securities that the Railroad Com
panies have gwen her, which may keep off direct
taxation for ten or fifteen years, and until the
| State shall be more able to stand such taxation
| than she is at present.
Resolved, That we believe should q law of this
character be passed, to tax the people, that the
companies would Immediately sell out their State
then throw ali the Railroads back upon the State
without putting the iron or rolling stock upon
single mile of road thus leaving the state IN oept
two and half or five million OF dollars ana Win,
and picturesque embankments, thrown up in diff
ferent parts OF the State by our Railroad Compa-
MES. -,
R<solved. That we further believe that should
our next Legislature pass law totax the people 10
pay the interest the State Railroad Bonds as the
Railroad Companies request the Democratic party
to do, that under our present great financial en-
barrassment, the people would be utterly unable to
raise such tax, and thus it would result in prac-
teal repudiation-the very thing that all good cit
liens desire so much to avoid-we think it would
be much better remain as we now are.
i, In commenting upon the above resolutions
the Plain Dealer says:
"The resolutions upon State policy are explicit
enough to satisfy any one. They say Just what Inc
Democratic Convention of Hennepin wished to DC
understood as saying, in their resolutions OF the
Goth of July last. They lay down the simple, rea
sonable, and sensible proposition that the people
, shall not be taxed until the Railroad Companes
default-that the provisions of the Loan Bill shall
be carried out in their plain letter and meaning,
When the Railroads fail to pay the interest and the
: assets ofthe Companies are exhausted, they arr
= willing to bear taxation rather than resort to repu
diation. The proposition is SO plain, so just, 81
undenably correct that no other one should hav'
er now, or at any other time, When the Compa
MES default it is time for the State to look to tn
preservation of its credit by meeting the lnteres
e Of the obligations upon its honor, as endorser
II either from its own, or the resources of the de
n faulting party. 1t is rather remarkable that an
other proposition should haye found eredepce ANY
10 where, or should, under any prete1t, have foun
supporters"
+ This is pretty plain talk, and shows this
A. the people of theicountry are alive to the MOI
e. strous taxation proposition announced in tn
e. Platform of the Democracy
II. In Goodhue county, according to the W
Of mona Democrat, it is found necessary to den
On that the Democrats are in favor of taxation
,r meet the interest on the Railroad Bonds, ar
es the Hon. W. W. PHELPS is the man that
r. doingit. Wehave no objection to Mr.. PHEIr
~ making such statement on his own accour
at because he most earnestly, but unsuccessful
w. resisted the adoptionIof that thirteenth plal
I'd by the Democratic State Convention but ,
od do object to his making the above stateme
~. in behalf of the Democratic party, when
70 own experience has taught him. such a real
ing sense Of Its hlslty,
oh But it all goes to show the wonderful {
,on tremities to which the Democratic party is
,ot Iast reduced. In one coun.y ....y paw.
,or immediate taxation in other sections tt
: are not going to levy tax, oh no, they are j
hat going Ito make the bonds goodp' CHow ?.
;oh While in the Oath Senatorial District they
ro going to adopt such course as will "keep
direct taxation for ten or fifteen years, a
nd until the State is more able to stand such t.
alton than she is at present"