Saint Paul weekly Minnesotian., 1859-12-03

rocious crime 70 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 shels
led out their money at the first exhibition fof
his great talents as q negotiator, and that too
without first minutely in going into the cha
acter Of the whole affair, and into 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 letter. had 30
atrociouslyA iuterfered to trip him up o
| salve to wounded vanity ~ -
But why don't Mr.. Sibley be a little hon,
est in his history Of this affair /? 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, was q 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 solemnly pledged against taxation at
a future. time, to pay the interest on those
bonds Wasn't it that chiefly which so ''ren-l
dered migratory and vaiueless the aid voted
by the people ?" sss,s s-4,a' o.. "a I -,.sl
.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 Ohio, unless the truth was told, and
it was damaging? i, T. ..aa s.aas -sga 10
Our .Moccasin friend, Mr.. S., means, We
suppose, the MIsNEsorIAN in particular, when
he 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 iiterr,st Improvement, by the
facility which that credit gives of borrowing
money that must have bitter paymen. event
lly, out of the sweat and industry of the
laboring people. Sc. q s,.u +
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
terlally aided to cut short the Swihdle in its
mad career towards success and realization;
to keep the Swindlers on 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
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 basis of eq-
uity and fairness to innocent parties, who put
their labor and money honestly into the bro
ken concern. ''lfthis be treason, make the
most Of il" :. .s-. ,rtv.-,--. .alJl
MR. sIBLEY MADE AN ARRANGEMENT =. l$
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 shame's sake, and his own credits
sake, refrnin from referring to-. This was the
famous arrangement he made with Wins.
low, Lanier & TO- OF New York to ''negoti-
ate o. the Bonds by which negotiation the
Companies would have realized about p cents
or the dollar, net, besides ;,h ing the whole
Railroad operations Of the State at the unre-
strained mercy oftleSe capitalists! Mr.. Sic
ley, however, has ventured to ailude it
little blindly, to be sure as follows:
Although an arrangement was made BY
me on the part of the companies, Win lead
ing firm there, winch have every reason to
believe would have resulted in the sale OF t;,e
bonds al fair price, it did not meet with the
assent of some o. the coupaniee, who believed
they could effect a sale at higher rates, and it
was consequently declared null and VOID
Sly Dig AT raE COMPANIES FOR NOT AGREEING
To Ills ARRANGEMENT" saa.
Sir. SibIey evi ilently does not ike the in-
putatiou the Companies cast upon his
Strewdness as Il negotiation, by their refusal
t. accede 10 his precious Arrangement y
30 lie very quletiy diy5 inso them With the
intinasiol. that they went farther ana ialred
worse. unfortunately" says our Sibiey,
:" these anticipations [of higher .rates] have
not been realized" He likewise confesses
for them that they were without means ora
capital to build the roads -,H.a
THE RAILROAD COMPANIES HAVE ALREADY DE.
I'D.
Read, however, his own language, with the
important announcement that all The colmpa
nies, except the Southern Minnesota, have al
ready dcfaulted in the payment Of interest Oh
the Bonds - ..
Unfortunately, these antici ,,ations have
| not been realized, aud the companies being
possessed of little Or no means of their own,
nave depended mainly upon their roads,
Unable now to raise money upon their, bonds,
except at 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 uf Southern
Minnesota Company, to pay the December
instalment of semi-annual interest on the
State Bonds they have received. 1a9@
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 Tomorrow, further review of the Message.
The state Canvass to-day. ~,
The House Of Representatives, with the
State Senate present as witnesses, this morn