Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-23

NU0 - - UU0e
Udkee I v Z Ito IN The psopls
oglsve ~ sei1alrk 10 whish they
- hdd Sd =, Isther ~ bsttse =
Sevss. ThS essiss pstsssd By . Con-
siderable sumbes Of cities ssd counties
duvisg he pss Two years has doss
more 70 isjsrs OR credit than can b.
repaired b. tie most scsupalous honesty
10 Tie next twenty ysAn Thss uasssrs
may get no wosss than they are W 3D.
misistsr the following bitter pill, taken
AbsntAs Desles 9teasspirS q -. lteh
isst, trusting ~ il nay hsvs The sdsct
Of opeaing TIE syss Of rspudiatoss. aad
rsclsin then from the evil Of their
waya Let oor citizens right hsse taks
warning ana ftown dcvn ~ attsmpts It
The dishossat trieks Of Espadiators /:
RsruDIArlon n IowA.-Some three
or fosr weeks ago : sharp article ap-
peared IN the New York Hsrald, on the
subject Of reputation in the Ststs OF
Iowa.
Iowa il now in the market for loan
Of four hundred thousand dollars, for the
war. The boa j. will, doubtless, b very
beautifully engraved, with coupons at
tached-but what will they be worth ?
Nothing more is required TO perfect the
dirty work Of TepadiatioD, sohere the
judiciary i elected BY TIE people, and
rascality 10 popular, than 70 get N in
junction and bring the question for de-
cision before msgIstsates Who are popu-
lar funkeys, and nothing else.
About fourteen moDths ago we paid
eight thousand dollars for eight bonds,
q part Of which were issued BY the
county OF Iowa, and part BY the county
Of Powesheik- both in the State OF lo.a
interest PAYABLE Ut the Corn M
change Bank, City Of New York. The
bonds we're beautifully executed-very,
but the beauty seems to have been su-
perfcial. The coupons, for the first Elk
mouths, we're cent on and paid. All
interest falling due since, remains I'M
paid and these two counties OF Iowa
and Powesheik are playing over the
Mississippi game of Republication; their
bonds -their solemn obligations have
been received here, at the North, under
the simple belief that the promisors
were honest men-they had every dollar
of the onsideration-audt there it is, in
their railroad property, and now they
refuse to recognize their duty az men OF
honor or common honesty. In these
counties, are there not worthy citizens
enough to starve ont this brand Of foul
play and treachery! Unit! this is done,
for the sake of decency, let US hear no
more Of Iowa bonds for the war or any
other object.
Under date Of July s, 1861, q highly
respectable and intelligent gentlemen Of
lows writes us thus:
This is in consequence Of an elective
Judiciary. 1t is with much modification
that am obliged to say, that there is q
strong disposition, on the part Of the
counties referred tn, to repudiate their
liabilities, and it is well understood tina,
two of the three Supreme Judges are
favorable to it.
| What q blessed state OF things
What glorious chance for an invest
ment-especially to the friends of The
fine arts-the admirers Of costly en-.
NEUTRALITY-SUSPICIOUS.. ast-~a.'i
Our correspondent continues thus:
An injunction has been granted by
District Judge Miller, restraining the
collection of taxes, for the payment o
interest on the bonds of Iowa and Pow
esheik counties, and the case has beer
appealed. Before it is reached, an cleo
ton for Supreme Judges take place
and the better part here are determined
that a Judge shall be elected who will
nip reputation in that quarter. As to
the final payment Of the bonds have
no question. 1t they belonged to me
should at once commence suit on them
| in the United States court, taking grouna
that they were pure hased, on the strength
Of repeated judicial decisions in Iowa
as to the legality, and that the courts
had no right to reverse such decisions
after saddling the bonds on iunocen
purchasers. / Am confident that tn,
u. S. courts will enforce the collection
and that lie the opinion Of the best law
yers here. Iowa aud Powesheik coun
ties are out Of debt, except tor thes
bonds. They are reaping al the advan
tages from the railroad, for the building
Of which these bonds were issued
There never was a fairer or more bind
ing obligation, as far as these countie
are concerned. The State is now il
market for war loan Of $4OO, 900, ant
should not be allowed to get it as lonl
as the debts Of its cities aad eountie
are repudiated, or left to take care Q
themselves.
We shall certainly, as will other cred
itors here of these shutting counties, re
sort, promptly, to the courts OF the Uni
ted States, should the appeal, to whic
our correspondent refers, be decided, il
Iowa, in favor of reputation. In III
meanwhile, we sincerely hope that thes
repudiators will not suffer "expressiv
silence to muse the praise" of this pa
pable rascality. We should like, RICH
well, and ouch is our purpose, if our inl
horn holds out, to examine carefully .
they can offer, 10 palliation Of this Or
parently gross imposition upon thos'
who have been so entirely mistaken, .
to give their gold aud silver in exchane
: for the bonds Of ::Poweshiek and low
counties. If thew atili nersiat in tn