The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-12-30

debt without taxation without through capital the ordinary
trade seeking here profitable investment repeat it, therefore
the solution all our present deu mG~ then
marching such Europe and the crowded
pss its ss s1 ng % % sna % M
with the plough the the sce and the png machine How indeed
will tell you how would donehow defeat that army
drive away another s %n sh n and 0p other
the complications growing out of the Five Million Loan amendment The
negative craftsmanship The manifest Emgrsns sensitive
debt Ss s1 N ts esap s e hs"i n r
generally moderate and the most S g son9 nS at h u
struggling the wilderness s their S OWN and that benefit
before the world with the reputation Of deep & NIB %
lads Of whole story MANIFOLD by vague pop
the Of
public Highway our G r and s o o so a this
obstacle s os wb the In anv
assured infinitely better for to know the worst Whatever debt
immigration will unsettled
osaons 1i the h o hs Bon
But is only theemova ndance to immigration which demands
her immediate duty premises
the immediate x d s p1y
possible vexng question from our State politics and not allow it to
parties introduce annually legislative halls e
ment of dscod and possibly to end Just similar comp
the Of all the Bonds the cost Of few cents the dollar will
the will be subsidized the of reputation will be raised the
binary and extraordinary means procuring legislation in doubtful cases will
fabulous obtaining recognition Of their disputed paper and its pay
e o R a1t s p @ ss and The me- sis
the time to settle adjust these unfortunate and dpoabe Rail-
And here this again the question: what shall be done
settlement Of these complications question more easy when
of the holders of the Minnesota Railroad Bonds
roy just as men y Interpret the Loa" Amendment
The argument BY favor Of the perfect validity Of the Bonds 9ues
not that should here recaptulate them
i u amendment md @ e State of Minnesota not in law or EQUIV
IT, bound to pay one cent Of those Bonds and the by which they
support exmeand correct most important position should be can
who take this position deny that they are any sense the advocates Of re-
% t ss ss 1y tss ss % @
good citizen guard the reputation and fair of the State from
they urge, his duty coto inquire
the character alleged obligations and duty also TO her admitted
off and resist the payment doubtful character
oss last Ses sa The s'
ac % s the ay general obligation their s m
n s't @ y % %
the special Bonds of State their special and being
as, % e @ Rs s ns, ns Ss
grading Railroads. whoever has acquired them by transfer by endorse
record es"s that fundamental authority officials
ated them and delivered them the Companies that by its closing
provo restrained those Companies the time when and the cond
tons the 6mn Of which they might transfer or negotiate them
ton therefore bought them under known risk and
Still another argument used against the obligation Of the s
grading Bonds turns the that some Of the
ten without every legal prerequisite their having
p grading that ~a contrary the totally UNFIT and "n
the from their being executed in detached portions
heavy the lines often omitted That also the right Of has not
lines the several roads surveyed and part graded and that there
FORE the clear mortgage security the roads required the
y good faith given the State exchange for her bonds Upon
5 sRe IN e a s s @ i s
State bound law equity for their redemption
r set es 1 sas s se LEGAL
Of the whole Loan Policy its maeo1 from the beginning to this
ton pay upon allegation that the Loan Amendment TIC
Constitution submitted for the people law
which against acted substantially Territorial Legislature
s e ass that &c ea am s s
addition this the the State Constitution adopt
while original State Constitution Minnesota still under conde
H9 az IS our u G
the amendment and al had or Obligations 81 Ta or bonds
have thus far given you the arguments rather Of others than my
self touching the be made to the questions what IL
Of her special bonds should be done in settlement Of tn
', st ss vii ae out
view; e. Gil Sss your our and approval %
# suggestion Offer OF Recommendation make Of compiled
II re way Will best the @ . of Ehs
special will the people and will o.
the least obstacles the 6 completion Railroads. In whole or
= part .'' 5srsq9pr -
First before reviewing the extent Of obligations to the present holder
the special bonds be well inquire who they probably
what and at what rates. they have ooane
y theu t... --.. q
i ismy belief obtain that much the great
proportion Of the said bonds still the possession OF control OF
Railroad companies their immediate representatives the
grading received least by the former at the rate M
such grading admitted much exceed M cost ~n,
other the smaller portion the bonds WIN
exceptions received purchased by their holders gay o
vaueehe hypothecaton pawn for small avanets anu @
ed gratues doubtful services liberal salaries LOT quesu
exchange deprecated currency oodgn up ntGs
re special bonds received 1y @
Banking purposes of which Slss Oo nave
leaving $32sOO0 Of them still deposited the Banking h hold
ID In nv opinion obligation State 10 hose wno no
special whether the Railroad Companies 30 G5oe mus md
whichey originally the conditions ISSUE ne 9
obtained by their delivery TO tne M ~ tsr nen
loan public gives them grading instead OF k0e's an0