The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1861-01-18
Legislative Topics.

their thoughtful attention.
Legislative Topics.
The CLAIMING RAILROAD PROPOSITION ;"
Mr.. BANNING introduced into the House
Monday, his anxiously looked for PROPOSE
ton for the settlement of the outstanding
State Railroad Bonds, and the completion
of the Railroads. 1t is in the shape of an
amendment to section one, of article four
teen of the Constitution; and the following
is a full and careful synopsis of its pro-
visions -
First. For the purpose of building the road
and cancelling the Railroad Bonds, the Gov
ernor of the State is authorized to issue new
Minnesota State Bonds" in - amount,
to any Railroad Company, organized in pur.
suance of the laws, who shall deposit by the
first day of --, 1861: q -- amount
of estate Railroad Bonds - the new State
Bonds are to be issued to the said Company,
in the amount specified per mile, for every ten
miles of road constructed, with the cars running
thereon, from Winona, La Crescent, or point
on the southern line of Minnesota, to West st.
Paul and Minneapolis, with an additional line
to ST. Paul, Ola St. Anthony, to Anoka. Fifty
miles of this road are to be completed within
two years, and the whole within three years.
The State grants to the Company all its rights
in the land grant, road beds, &C., pertaining
to the recent companies; and in lieu of taxa
ton, the Company is to pay into the State
Treasury - per cent. of it's gross earnings.
Second. For the construction of road from
the Mississippi to Lake Superior, any Company
depositfng with the Governor s20O, coo in cash,
or its equivalent in State Bonds, will be entitled
to the swamp lands within six miles of its
line, and upon the completion of the road
to q bonus of $4,000 in Minnesota seven per
cent bonds. The 100000 required to be de-
posted, will be refunded on the completion OF
the grading, being required merely as evil
dence of good faith.
Third. To meet the interest on the new is
sue of bonds, the State sets apart---lst, al
taxes paid into the State Treasury by any Rail.
road Company upon its bonds, property or
franchises I'd, so much revenue arising from
the swamp lands as may be necessary; and Sd,
five per cent. of the revenue arising from the
sale of U. S. lands in the State. In the event
of the insuficiency of these resources, the
Legislature may levy tax, or issue interest
bonds for five years. A sinking fund, to pay
the principal of the bonds, is to commence by
taxation, in 1870.
Fourth. The outstanding estate Railroad
bonds" not included in the amount deposited
with the Governor, are to be taken up by the
Governor, at certain fixed rate, and "Minne-
sofa State bonds" issued to the holders in lieu
thereof.
The propositions set forth above, are in
the main, similar to what is known as the
chamberlain bill" of the lest session. 1t
is understood that there is delegation of
heavy capitalists here, prepared to push this
measure by (of course) all legitimate means.
1t is also said that the aforesaid gentlemen
are prepared to plank down million and
half of !" State Railroad bonds" with the
Governor, from which to draw their $780,
900 per mile for every ten miles build, with
the cars running theron. This is part Of
the current gossip, and we give it for what
it is worth.
In the Senate, Mr.. SMITH yesterday in
troduced a bill granting to the Lake
Superior Air Line Railroad Company from
st. Paul to the Lake, the swamp lands
within six miles of the road, to aid in its
construction. This Company has had a
route surveyed to the Lake, but whether air
inc or not, is disputed.
The RAILROAD CoMMITTEEs.- As the
railroad question will be the most impor-
tant to come before the present Legislature
it would be we'll to glance at the Committees
of the two Houses on this subject:
House Committee.-F. r. E. Cornell, oil
Hennepin Co., chairman; P. L. Gregory oil
Douglas; M. W. Sergeant, Of Winona
VIM. L. Banning, of Ramsey; A. 81. But.
Ter, of Fillmore; J. D. Haskins, Of Rice; G
V. MAYHEM of Benton Thos. J. Hunt, oil
Dodge and E. E. Paulding, Of Nicellet.
Senate Committee. = james Smith, Of
Ramsey, chairman M. Cook, of Rice; 81.
w. Holley, of Fillmore; Samuel K. Bar
ney, of Blue Earth Daniel Norton, oil
Winona; j. K. Reiner, of Washington
D. Heaton, of Hennepin and J. w. Fake,
of Dodge.