Saint Paul weekly Minnesotian., 1859-07-02

late at their exact value this extraordinary
swatchfulness and determination exhibited
,y those Democratic officers, Mr..
SIBLEy and Mr.. DUNBAR,-when they look
It the $500, 900 of irresponsible promises to
pay" which they did allo,o to be issued on
the deposit of Stocks the $knew to be worth
less or not convertible in cash-when they
look at the $4,000 of Wildcat currency,
issued from the. State Auditors office, with
the advice and consent of Mr.. SIBLEY, all OF
which now lies useless ifnot worthless in their
hands. "Watchfuness and determination OF |
these Democratic officers" Truly, our neigh |
Dor is growing facetious.
In reviewing this attempt Of the Pioneer
at defending Mr.. SIBLEY, we have reserved
for consideration at the last the secondly
points of both the first and last divisions of its
article. The following is from the first divis-
ion of the defence:
That he Mr. Sibley) did not, as asserted, "draw
up the contract in his own handwriting; out
that the Pease contract, prepared for the adop-
ton Of the Board of Directors when Gov. ~ SlB.
LEY was not present, and with the knowledged that
he was opposed to the whole policy inaugurated by
such contract was shown to him. and his entire
connection with it consisted in his suggesting IN
writing certain changes for the better security OF
the company, in case the apparent predetermIna-
ton to ADOPT it should be finally carried into effect
And this, is from the second division OF the
article:
That the Auditor received the State bondsissued
to the Cedar Valley Company at 95 cents, upon
the oath of Mr.. North, then President of the Com,
pany, that they had been sold by him at rate, ana
after the company had in legal form provided for
first and exclusive mortgage bonds to the state.
lin accordance with the original requirement OF
Gov. Sibley.
Now, we will answer both these para
grphs together; and "see how a plain tale will
put. you down."
The Cedar Valley Railroad Company went
on with it's grading without possessing any
capital in itself and scarcely any in its con-
tractors The entire work on this Road
was done on credit. Their only calculated
resource to pay was selling their State Bonds
in the New York money market
When Mr.. NORTH, the President and Mr..
SIBLEY the Vice resident of the company,
returned from New York, having utterly failed
| to dispose of the Bonds there, at any price, a
terrible state of things existed on the line OF
the road. The people along it and the labor
ers upon it, were clamefoHS for their pay
pay for which their labor, their goods, and
the products of their farms had gone into the
construction of the road.
"What was to be done S"-stared every
one in the face as question whose right solu
ton would avert anarchy, ruin, starvation
and distress. 1t was only after full consul
tation by the President with the Directors
and also with the Vice President of the Road
Mr. lSIBLEY, that the policy of converting the
BoAds into Currency, was adopted as the only
possibly means means of paying these press
iige ebts for labor and supplies.
aEKs we state upon competent authority
and it being the undoubted fact that Mr.. SIB
LEY aided, consented, participated in the
whole Currency and Pease, Arrangement, i
is only sneaking cowardice to shrink from his
due share Of the responsibility, and dishonor
able for him to attempt to crowd it wholly OF
to another.
Rightly, and properly As the Vice President
of the Road who would succeed the President
in case of accident, he was cognizantof Of and con
suited throughout the entire progress of thu
arrangement" OF this there is no kind o
doubt. When the Arrangement was made
with Mr.. PEAsE, by which he was to have th'
Bonds, upon which to establish Banks and is
sue currency-he to pay for the Bonds back
in the currency itseL-Mr. SIBLEY knew al
about it before hand!
And, as we stated before, he it was wht
drew up in his own handwriting the 6rief o
stipulations from which the attorney Of tht
road drafted the contract
This manuscript of Mr.. SIBLEY is still ex
tant; and can be produced to show his entire
and full participation in the agreement with
Mr.. PEAsE!
When Nv, NORTH, as President of Road
made the affidavit upon which the officers o
the Bank Department of the State-SIBLE1
and DUNBAR-took the Bonds of PEAsE as
security for currency at % cents on the dol
lar, they ueU kneac that this sum was con
tracted to be paid for them by Mr.. PEAsE en-
tirely in the currency about to be issued By him
on this basis as securityi
Mr.. SIBLEy knew of it, because he had aorit
ten the contract: and Mr.. DUNBAR knew of il
from Mr.. SIBLEY, Mr.. NoRrR, and others-the
circumstance was not concealed before him.
| These are the facts They prove the com.
plicity of the Democratic State Officers " in
the Arrangement" by which, principally, the
People Of Minnesota have been grossly robbed
by 4" irresponsible promises to pay"-by a
worthless Wild Cat Currency, known to be
such by those officers in her pay, who for their
own purposes, authorized it to be issued upon
the community!