The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1860-02-10

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itself to complete SO miles Of road from La
Crescent to st. Paul within two years after
the amendment to the Constitution takes
effect, and within three years to complete
the entire line to Anoka, and also, on or be-
fore the first day of April, 1865, to complete
roads from some point in Steele county to
Mankato and st. Peter from Mendoza to
Belle PLANE; from St. Paul to Saltwater !;
and from Anoka to st. Cloud. In default
of the construction of these lastnamed roads,
the Company forfeits the lands and road beds
attached to them.
Si1th-In lieu of all taxes, except on
lands leased or contracted to be sold, the
company pay into the State Treasury per
centum of its gross earnings. The other
provisions of the bill provide for the details
of its submission to the people, the declara
ton of the vote, &c.
Plan of Adjustment No. Iaco.-This was
presented to the Senate by Mr.. JOHN 7.
AvER1LL, of Wabashaw county, as his in.
dividual report and plan of settlement. In
the bill accompanying Mr.. AS report, it is
provided that the Constitution of the State
be so amended as to cor6ne the public debt
to 81 100000 leaving $750,OO0 with
which to retire the $2,275,OOO outstanding
Minnesota Railroad Bonds, and issue new
bonds for the taking up of the same, and for
the payment of interest accruing on said
bonds, for the first five years after their
issue. That no more Railroad Bonds
be isuued. That the Constitution prevents
any action by the present Legislature, as by
its provisions a law in detail cannot be in
serted therein. That the Loan Bill was
passed and submitted to the people without
any authority from the Constitution, and
that it is therefore void. That the matters
to be adjusted lie between the bondholders
and the State, and these it is proposed
amicably to settle, by paying the cost of
those bonds, to the present holders, as soon
as the Legislature obtains the constitutional
authority to do so. That the coupling of
the retirement of these bonds with the
building of the roads at the present time,
when the people are already oppressed with
taxation, would not be good policy to adopt.
Plan of Adjustment No. 7hree.-This is
the bantling of Senator KING of Winona,
and Mr. NETTLEToN, Representative in
the House, from Lake Superior, and is also
accompa: led by bill. This fraction of the
Committee state the undoubted fact that the
Railroad Companies have defaulted, and
that the State is therefore liable for the
principal and interest of the bonds; and
that if this payment is not assumed by the
State, citizens who have unliquldated claims
will receive nothing, unless the companies
can 60 on with their operations.
The committee submit plan for settling
the difficulties in which the State is placed
This plan, in substance, is, that each COM
pany shall finish and equip fifty miles of its
road within twelve months--and when this
is done, that the State shall relinquish to
each of said companies all the securities
held by the State, to insure the payment Of
the principal and interest of the State
Railroad Bouds" heretofore loaned them,
and donate to each of the companies $685..
900 of new issue of State Bonds, to be
delivered to those companies only when
like amount of Estate Railroad Bonds "
shall be returned to the Governor for can
collation. the payments of the principal
and interest of the State Bonds, to be amply
secured. 1t is also contemplated that so
much of each of these roads shall be finished
and equipped within two years, as will fur.
nish continuous lines of travel and transpor-
tation from La Crescent and Winona
through the interior of the State, to Mime
apolis, and from Saltwater via st. Paul to
st. Cloud, and along the Minnesota valley
from St. Paul to Belle PLANE. When
each road has it's respective portion of this
through route completed, the State shall
make them further donation of bonds
amounting in all to the amount of Estate
Railroad Bonds heretofore issued to such
company, retaining, however, sufficient to
redeem all the outstanding State Railroad
Bonds heretofore loaned to each of tn
railroad companies. The companies are to
reliuquish all claim to any further loan or
donation from the State, and as evidence of
their good faith in the matter, to file a con.
ditional REIMBURSEMENT of all the securities
held by the State, and all the lands, fran.
chises and other property, owned by such
company, to revert to the State without sale
or any other legal action, on the failure of
the company to build and equip fifty miles
Of road above mentioned
"A large portion Of the report was taken
up with an argument against the project of
the plurality report. an
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