Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1860-02-18

The Redemption by the state Of the
Land Grant To the Iowa Centrai
Air Line Railroad.
On Wednesday last, after having
thoroughly debated the matter, the lower
House Of our Legislature by avoto Of 81
yea. to 20 nays, passed the bill for tue
resumption by our State, of the Land
Grant to the Iowa Central Air Line
Railroad, al imaginary road, whose
termination was TO have been Lyons, q
small town about forty miles above
Davenport, .on tho west bank Of the
Mississippi The Iowa Central Com
pauy, it will be rccolected, was one Of
the companies formed 10 obtain part OF
the grant of land made by the Federal
Government to Iowa for Railroad pur-
poses, and which grant was disposed Of at
the extra session of the Legislature in
the summer of SO, to four companies
proposing TO cross the State, of which
the Iowa Central was one. The con
dtion, or at least the most important
one Of this grant, was that if any one
Of the companies should fail to have
completed and equipped seventy-five
miles Of its road by December ls,,ls59,
then and in that case the State was to
resume sail rights conferred by this act
upon tho company SO failing, and to re-
sumo all rights to the lands hereby
granted, and remaining undi,posed Of
by the company so falling"
The bill for the resumption of the
grant to this company will undoubtedly
pass the Senate and become q law. The
reasons Of it are thus briefly stated by
Gov. Baker, the delegate from Clinton
county, in his speech last Saturday in
the House:
Without having benefited the State or
built foot of road. the ]. g. A. L. Com any
already claim I2o sections, or IS 00) acres
This seventy-six thousand acres have been
conveyed to creditors to satisfy 100000 Of
Land Scrip and $685. 900 Of Mortgage Bonds
4l2, 800 acres-aside from the above-are
covered BY deed Of trust (see page 81, re-
port of 1881 to secure Land Scrip to the
amount Of 100000. which was issued in con
nection with stock. 500 900 Of this item was
originally in the form of corruption Bonds"
which were exchanged for tins stock with
Land Scrip attached. Aside from all this, the
balance Of the lands are encumbersd by
mortgage to secure $IlS.000. Here Ia O pre-.
tended Indebtedness Of Sl,5o0,Oo0.
Here certainly it a pretty state OF az
fairs. A party of men get together and
form Railroad company. They want
to secure a land grant from the Federal
Government. 1t was at a time when the
Republican party, party celebrated for
its high-toncd morality and strict re-
llgious principles had the power in Con-
gress-when Banks was Spcaker-and
just before the spring previous to the
election Of that old Roman, James
Buchanan. There were then, as now,
in the ranks of the Republican party,
men whose names will be transmitted to
posterity for their stern integrity and
patriotic incorruptiblity. They were
men imperyious to bribes-they could
not be bonght-but their sensibilities
were powerfully affected, and their sym
pathies deeply aroused by "pecuniary
compliments" Such men were 0. Is.
Matteson, Gilbert, Welsh, Edwards, and
other distinguished Republican NJ. C's.,
whom we. could name, but at present
will not. 1t was among such shining
lights of the Republican party IN the
SD Congress, galaxy of patriots I'm
equalled by the Forty Thieves, that the
100000 Corruption Bonds were dis
trlbuted, in order to secure the inclu.
sion of the road from Lyons westward
In tho act Of Congress. We we're told
by gentleman Of vcracity that he had
seen in the hands of member of the
sd Congress, bond Of the Iowa Cen
trial Railroad for 81 900, numbered 500.
And it IL to pay such debts, such cor
rupt contracts as these, that this noble
grant from the Federal Government for
internal improvement has been attempt
ed to be squandered. Doubtless the
balance OF sl,5oO,OoO has gone pretty
much the same way-gone to politicians,
brokers, and thieving spectators. We
are glad that owing to the energy of
Gov. Baker, this bill has passed the
House, and hope it will soon become a
law. Whether this pcrversion of the
grant, this squandcring of the land BY
the Iowa Central will be permitted, re-
mains to be seen. We hope the whole
thing will be ripped up, and the land
grant applied according to the intent of
the act of Congress.
A New Cconty.
A nptIfion IA aHoot (Vt:.Ao.