The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1859-11-26

and FOOLS" 1nere is nOtNlDS surprising III
this. from the fact, that, on the 9th of o.
tober, 1S58-a little more than year ago
he INDUCED in the same terms, when
speaking of his fellow citizens. Now, how
ever, he seems to have come to the conclu-
sion, that those who do not agree cih him,
in respect to the propriety of loaning the
credit of this city to the c. B. / St. Joe
Railroad Company to the tune of So, 900,
on the terms proposed by the City Council,
<smust be slightly crossed with both ri.
e., part fool and art knave. So concludes
the " man of much real worth of character
who presides over the editorial columns, OF
that immaculate sheet, the " Council Bluffs
Buqle." In addition to this, the "popular
favorite" is greatly surprised sat the posi-
ton Of certain individuals" on this subject OF
issuing City Bonds. In other words, he is
surprised that we oppose the issuing Of the
Boads Of this city to the c. B. & st. Joe
Railroad On the conditions proposed by the
Common Council, while less than twelve
months ago we were willing TO surrender
100000 Of our county bonds in to the hands
of the agent Of a"soulless corporation with
out having it s'vouched safe" to the citi-
zens of the county y" that in rendering such
aid imposit!ons will (would) not be practic-
ed upon them and they made the loscrs
thereby" We plead guilty to the implied
charge here preferred, but not to the or'ho-
graphy. But, in extenuation of our present
position, we would say that we have profted
by our past experience in this matter
How is it with our neighbor? Directly
the reverse. A little more than twelve
months ago, and, on the 18th of October,
1858, at a Railroad meeting in Concert Hall,
Col. l.. W. BABBlTr offered a series Of reso-
lutions, requiring the NJ. 4 NJ. R. r. Com
pany to expend within the limits of this
County, of their o'cn money TWICE the
amount of the bonds asked of the County,
before the bonds should be issued MOI.
only that, but he required the company, in
addition, to give security, that they would
complete the road through the county with
ia given time. Now, how does the BugIs
man stand in regard to the proposed issue
of City Bonds to the Southern Road? Why,
he is willng-not only that, but anrious-
that the bonds should be issued upon the
mere affidavit Of the Chief Engineer, that
an amount had been expended upon the
road equal to the Bond asked of the City
"Certuin Individuals" who, ''less than
twelve months ago" favored the issuing Of
the County Bonds to the NJ. & NJ. I.allroad
Company, Gas the work on said road pro-
crossed in this cOunty'-wIthout security
for completion within given time-ha'lng
learned lesson from past experience, nor
ask that the Bonds Of this City shall not be
issued to the Southern Railroad Company,
without said Company's agreeing, at least,
to expcnd the sum realized upon said bonds,
within the limits Of this County. This is
the difiercnce-we now stand where Col.
BABBITr did little over year ago, and the
Col. has jumped into our track, relative
to the treatment Of Railroads by corpora
tions.
Discovering any desire TO get into. con-
trovcrSy with a man of SO much 'rcal worth
of character.' as Col. BABBITT, Vice Presl-
dent Of this Southern Road, we shall, new
ertheless, venture to make an extract from
the las. number of his paper, as follows:
"The reason why the Company desired that they
should be required condition precedent to the
issuing OF the bonds cxpend equal amount Of funds
derived from private subscripti,ns that but two
and mai! t,r cent per month Cf the stock subscribed
be called in, lnstal'meuls and il rOu'd take
three and half yeGrs TO complete the r0af under
thai restriction If the city AID the road ALL she
tO it well in six months in three and half
years The obet is to hurry the road to completion,
and all who desire cnpeted will vote tor tax
ing stokhose opposed to the road and those C0ntroN
Ell by other Interests viii continue objections
TO the ordinance until the day Of election at which time
they Will accordance with thcwill OF their
ters"
In this extract. the sable man" admits
that the Company are not required, by the
ordinance, to eSpend Of their orn money,
m amount equal to the Bonds required Of
the city, before such bonds should be issued.
Yet, in the face of this admission, he says
those who do not vote in favor of taking
stock upon the conditions named by the
Common Council, are "opposed TO tie Road,
or controlled by other interests" On this,
We take direct issue with our neighbor,
sable man. and "popular favorite,"
though he be. We do not propose to handy
words with him, and will therefore pass by
all he says, about "certain men "voting Sin
accordance with the will Of their masters y
rs mere idle vaporing-but we must say to
him, that we are not in favor of this cisy s
subscribing S25 900 to the Capital Stock Of
the Council Bluffs and St. Joseph Railroad,
upon the conditions proposed BY the Com
mon Council of this city, and, for the fol-
lowing 60 u.s. satisfactory reasons:
lst. Because the Company do not even
promise to expend one cent more than the
proceeds of the said Bonds in the construc-
ton of said road.
Cd. Because the Company do not propose
to even expend that sum within the limits
efthe County.
Sd. Because the 90 affidavit" Of the Chief
Engineer of the road, is virtually made the
only condition precedent to the issue of the
Bonds.
4sh. Because, owing to the uncertainty of
the road being completed inside of /" three
years and ha!f,' the Certificates Of Stock
in said road would be no equivalent to the
CITY for Bonds issued to the Company at
this time, upon the conditions proposed.
We are in favor of this city subscribing
.s25 900 to the Capital Stock of the Council
Bluffs and ST. Joseph Railroad, but not
upon the conditions now proposed. Con-
siderine what Col. BABBIrr said of US in his
las. issue, we cannot do better than to close
this article, by adopting paragraph from
~, R,,o,s of data Oct, 9th. 1888. Sad