New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-07-12
ppnpnsED LOAN TOR IOWA.

DIES MoNEs, June %, 1861.
In a few DAYS the Commissioners Of the STATE OF
Iowa win be in New.YoIk CRY, TO borrow four hum
sred thousand dolars or 50 much Of that fum as may
remain 10 the market aieracceptng the voluntary olf
of her own citizens She cones with clean bands There
Ia no faint Of rspdiaton in all the financial dealings
If lie S,ate. Her debt is 50 small, the amount now
elarred upon her lax duplicate, would II pald np,
io, e,ut he lgst dollar Of debt and leave a surplus II
the Treasury such q condition OF affairs u almost
without parallel beyond the limits OF New-Englapd.
Every cenL OF interest upon the hmHed ocbt o. Iowa
has been aud pTOmItly 70 maturity ana ma 700 WIZ
out e,pbar rrt di,iiog o. wears of financial PIES
snre through Which tho Wet bas jrst passt d. in
ysg Of such state OF facts, the stempI OF ihs e"-
Yogk HeJgG 10 dsmsge TIE 'redi. % tho hse!e
Al ui3 extraordinary luuctuN, when hDo j.
sbont 70 ak a loan for war purposes, mus be
REGARDED an exceedingly ace, mo deserves the con
demn8tiJn Of every stIUc citizen, Iowa atk6 ioan,
tor Der IN Use but thst she may DC ehap'eu 70
render such all 70 the General Government a. ls P's
demand : proposes % borrow ouly 80 much az Il
absolutely esslry She Ofers ever guarantee that
tie lenoef can ask. her bonds viii lie exempt from
taxation in Ibis safe. Seven per cent interest u guar.
snteed The act authorizing toe l0an makes tie am
plsss provision Tor the pay nsut Of principal ana l1te-
es Get, DeUaUse talI dozen counties IN TIE >,aie
have failed O. pay tho Lert - upon cent tna h W.
terry bey Ond tLeir ina ab'y, TIE HeT0ie ASSUMES
tsai NE Sss IL NOT " Dc truse, aud ID no better than
aIepudielorl Ii,
eoupties-Ouj Of one bUuaIta l the ost-V7llch have
failed 10 nav toe interest upon tDrir railroad d-bls
livery dollar tuey have invested N those roads has
been absorbed By the eastern Stockholders, who own
che roads. The COuniies were ldlced ~ loan Their
credit with the expectation Of large profits from The
rads The bulk u The 81, OK was taken by those who
proposed 20 bull tie road. They thus controlled tue
itiisgs for c8nstrut ton. Two or three prices were
paid Tor making The oais, and these Pies went INTO
tho 10 kets OF who, 40 several instances, have
g. 4 a..akf . FsauNa "a "A CfIHg
worthless tie stock Of our OWN Citrs aud counties.
HAVING Tins secine8 tie roads, without investing
gvly Of sleT OWL means, come Of these bondbodsrs
lave tn!Ied around and sought 10 jorce ny law the
collection OF interest ely and county bonds. IN
ale lpeer 70 carry such lJds Of dsoi, the few loa-
Jies steliGel by me hJGid Lave ei0ed themleiYvs
foT a me behld the dec.sious OF tie STATE and United
Stales Court which DECLARE these debts illegal. Bad
needed maui ence been Tai ted % the few fsbt dCen
iSaf,ies there wOuld have been 70 attempt TO eyads
The obligations incurred. They iicc ~ pay because
they wore unable. lae O"uois Of their bonds sougb,
redress " iaw, and The TesUl thrOws thcm out Of
Court. Bat % mar ia IONa believes inat tleae city
aud county debts will be repuoated They will
Ultimately be Iaia adjusted upon oasis satisfactory
E1t tybag Il Z were Otherwise? How does This
affect The credit Of the States Eastern capitalists
have The best meous o. knowing that Iowa Pays hcr
dobts hUresty sid promptly. They have, 10 the lav
Jus. enacted tbe evid nce Tia. sho means 10 40 30
hsBeefogib, forever, - Whatever cost. They know
thst her fresdOC r. debt q IA enable her 70 90 what
the few lnunicslies alldei 10 verJ unable % do.
They have e, ece Of her solveuey and safety IN the
pradence win with Der aiaifs have been Managed,
and Ler pegsalcus f4gsl 20 b. drSged INTO schemes
nyolgns te5t. Sub facs end conti terations ought
tobe coneusive0s 10 tie advantages offered g. capi
Ealls,s by TO pIopos0d lJsu; s,d MY ada tOat
hey oaght 70 sleuo ihs slsudel0us tongue egen Vi
tho s2ahie jJurnl e, seeks 20 cripple 60 STATE in
Its efOii 20 I'D tba GeierlI Government.
Toe inLimh1o tal ths proposed l5an Il OF doubtful
coastitntiJaiiy, s not verify Of seeus coufidega-
S01. II go l.w-mski1g power q The State h. not
e0peent 20 deeido Shen the ate Is IN danger OF n-
vs,ion by rebes on Der borders, and peeds warlike
defence and eiuipn1cuts, the question may well be
6akod where thas power end discretion arc vested
The peoue are IN the habit Of looking 70 ts Couf
Tor legislation and lctOu al ouch junctore or 10 a1y
other. DIS MOIsKs.