Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-15

The following = ne reply made ~
d. AVuiSKthy eisaChs isssed By or
bpIJ res ling th1 bsstitationsIity :
. Ipwk sse Dsda The Herald
sems neas kned That nese Of our bonds
.hall Be negotiated 10 thst market at
any ssasosAbis Aeass. Reed the arti-
Gle:
A public meeting was held at Daven-
port, lows, on July l, iost., 10 take into
consideration IN article which recently
appeared in this column on the subject
OF the Iowa war loan that 10 10 be award
cd "a the 18th. A committee, consist
ing Of Measss. Dillon, Hill, and Dow,was
directed to prepare ~ answer TO our re-
marks. We Published the report Of the
committe in this morniDg's Herald.
The committee mskes two points:
Frat, that the bonds are fully cover
ed by section of the State constitution,
and are consequently not uncoBstitut'on-
al ;aud secondly, that the Chef Justice
OF the Sts.e of IIllnois-whose constitu-
ton contains the same prohibitions as
that Of lowa-haAing declared extraju-
dicially that bonds issued "for the pur-
pose Of repelling invasion, suppressing
Instruction or defending the State 10
war" were valid, therefore no invalIdity
attaches to the proposed war bonds Of
the State of Iowa. This is the commit
tees case. We fear that it will hardly
satisfy capitalists. Section 4 OF the
State constitution Of Iowa reads as fol-
lows:
"In addition to the abeve limited
power to contract debts, the State may
contract debts to repel invasion, sup
press insurrection and defend the State
in war but the money arising from
the debts SO contracted shall be applied
to the purpose for which it was raised,
or to repay such debts, and to no other
purpose whatever"
One does not need to be q lawyer to
perceive that the debt which the Gov
eminent of Iowa now proposes to con-
tract is neither to ''repel invasion" nor
to suppress insurrecUon," nor to ode.
lend the State in war;" 1t is for q
wholly different purpose, never contem-
plated by the trainers Of the State con-
siitutiOn viz, to enable the State to
fulfill its constitutional Obligations to
the Federal government. No court OF
Justice. whether in Iowa or out of it
could hold that the State is or has been
in danger OF "invasion," in prey TO sin
surrection," or in need OF "defcnce in
war;" Nor does the extrajudicial opin.
ion Of Chief Justice Canton, of Illinois
mend the matter. In the first place, the
Chief Justice does not say that the H.
nois bonds are valid. He merely say.
that bonds issued for tho purposes spe-
cited in the State constitution-which
these Iowa bonds are not-would be
vail. But Why waste time with judges
opinions? There never has been any
lack ofjudicial and cxtrsjndicial opin-
IONS in favor Of the validity Of Western
bonds before their negotiation. Such
opinions only begin to grow scarce after
the bonds have been sold and the m oney
obtained. In all the western Estates
which have repudiated the unanimity o.
the courts in favor Of the sigbts Of cred
itors. before the people of the State lad
borrowed all the money they needed
was as striking as their unannity in op
position 10 the collection of debts after
wards. In some instances the same
Judges gave judgment both ways. In
others, when the money had been Dor
rowed, and no more could be had, the
Conscientious constituency threw the
creditors Judge" overheard and elected
debtors judge in his stead.
1t has been SO in Iowa, aud it is now
time that the people Of that State should
feel the penalty of their conduct. The
var bonds of the State of Iowa, which
are TO be awarded on Saturday next,
are issued ia direct violation of the con.
stltution of that State, and will be pro.
ronnccd unconstitutional, null aud void
by the courts on the application of any
single taxpayer. If the people of Iowa
had shown, in their dealings with their
creditors, a high sense of honor or hon.
esty, that would constitute q guarantee
against the reputation Of these bonds.
What sense OF honor or honesty pre-
walls among the people Of Iowa may lie
inferred from the fact that, with one or
two exceptions, every city and every
county in Iowa that ever borrowed a
dollar has ether absolutely 1epudisted
or is trying to repndiate the debt on
some shameful technical plea, and that
in every instance the courts favor the
regulators.
Ma. Z. b. Sicily, of Bowling Green,
KY, it is stated, has succeeded in max
ing most important improvement in
fire arms. He has invented new gun,
entirely different from any other pat
tern, and complete in all its arrange
mcnts. 1t will shoot t,co thousand four
hundred Minnie balls minute, with all
the accuracy aud precision Of rifle.
II is light in construction, and portable,
and can be easily handled by two men.
Its capacity can readily be extended to
5000 balls 4 minute. A caveat has
been fled. and steps have been taken
to secure a patent.
DEMOCRACY OF OHIo.--At a meeting
Of the State Executive Committee of the
Ohio Democracy, held at Columbus,
=