The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1861-07-03
A Vile SANDER.

A Vile SANDER.
eve must, however, make an exception
to the general rule in the case of the propos-
ed loan of the State of.Iowa. That State is
now in the markes fora war loan. In order
to borrow, without violating the State con-
stituton,. the State authorities are obliged to
act OH a,e fiction that the State is in darger
Of invasion. If the people of the State of
Iowa had established character for honor
and integrity, the public would perhaps feel
that the vice which thus taints the new loan
in its inception would never be pleaded in
bar of its due payment But we regret to
say that the people of the State of Iowa have
earned precisely the character which war.
rants the belief that they would, after they
had rot the money, resort to this and very
O'n"r available trick to def,aud the parties
who hst leut il There is hardly town or
popu v> county m Iowa whichis not at tits
m2meat evadiac or attempting to, evade its
most solemn obligations. Such towns as
Davenport, Burlington, Dubuque, Keokuk,
Muscatine, and such counties as Henry, Des
Moines, &c, which have been built up by
the railroads intersecting the State, are re-
pudating in the most barefaced manner the
bonds they gave to help construct the roads,
generally on the shameful plea that the towns
and counties had no legal right to give the
bonds WHICH were in effect the cause of their
prosperity These repudiating tricks receive
the ceuntensnce Of the Powa courts. As was
the case coupAe Of years ago in Wisconsin,
and for many years in Mississippi, courts,
judges, lawyers. politicians and people are
all leagued together to cheat their creditors
/ sc ShoN e L l. j
tv to protest against the negotiation Of any
Northern State loan in the present crisis
But The dishonesty Of the TOWNS and couni
ties in Iowa has been'so uniform and so IA
grant Of hate that t'wouil be inexcusahle to
permit their vaa Dan to pass without re-
marking that it Offers tempting opportuni.
ty for reputation. and that the people Of
Iowa, have evidently no scruples of honor OF
honesty on the subject of repudiating their
debts.-[ New York Herald.
The above Infamous libel upon the entire
people Of this State, is copied for the p,rpose
Of showing the means resorted to by the Sc.
cess,on press Of the Nos.h to impair the cred.
it Of the loyal States-at time when they
are about resorting to the money markets Of
the country to negotiate their bonds to raise
money to carry on this holy war for the
Union. The Herald, the Union of this place,
and all others of the Secession stripe are de.
termined, If their powerful arguments and
well meant ISLANDERS will do it, either to con.
vince capitalists that the war and all appro.
priat!ons for its support are unconstitutional
or induce them to believe that the people
will repudiate all such obligations. Either
If successful, may defeat the government
and insure the ultimate success of the rebels
This attack on the honesty of the people
of this State Is an infamous libel, and ought
to be repealed and denounced by every cfti
zen and press in the State. 1t does us fou
and unmeritef injustice in every particular
and is most monstrous misrepresentation
of all the facts bearing on the subject. Iowa
neither by its people, it's cities Of its coun
ties ever repndiated an honest debt, the in
stance Of railroad subscriptions. Of severa
years ago, not excepted 1t is notorieusIy
false both that the people ever did any such
a thing, as well as that the State courts evel
upheld them in so doing. The facts are thai
in spirit of speculation, certain countie:
and cites in this State, several years ago
involved themselves somewhere about g.,
600, 900 in the aggregate to aid the building
of railroads, which amount after the crash O.
~ came on, they were utterly unable, moi
un~illing to pay, and probable have not paid
to very large extent to this day The Fed
eral not the State, Courts, decided in those
cases when no bonds had gone into the hand S
of third and innocent parties, there was no
obligation to pay, but when bonds had been
sold, they must be paid, and they have been
so far as we can learn
People in all parts of the world sometimes
fail to pay their debts, from over trading,
when commerce is deranged, the banks sus-
pend, or some national calamity impcnds,
but they do so unwillingiy, and it cannot be
called reputation, which implies ability to
pay what is dishonesty withheld The cities,
the counties and the State of Iowa, are to-day
as able and as willing to meet their obliga-
tons as the cities and counties of any other
State, or any other State ITSELF With a funded
debt Of only some 100000, with taxes Of
former levies of some 100000 due, and the
levy of the present year soon to become due;
with individual Indebtedness not exceeding
the ability Of the people to meet as promptly
as those Of any other State IN the Union
with the prospect of crop exceeding in
amount and value any previous year, with
banking system confessedly the best In thu
west, and with as brave, loyal, industrious
and enterprising population as can be fount
in the world, the credit Of Iowa cannot b.
seriously injured by either the Herald o
New York, or the Union of Ottumwa. He
loan of 100000 will be taken. we ventur,
to predict, at the highest rates of such secu
rites; the interest will be paid promptly, al
well as the principal at maturity, the effort
of the bulls and bears of Wall Street to Gu,
it down for purposes of speculation, and Q
the Secessionists at home, to promote treas
on and rebellion, to the contrary notwith
standing.
But while the course of the Herald on thi
subject is aatural, that paper being in tn
interest Of stock jobbers, and employed t
depreciate all securities brought to that mar
ket for sale, what shall we say of the con