Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1861-08-02
For the Journal.
High Taxes and Low Treasury.

That our taxes are high, few arc disposed
20 doubt, and that our treasury is low, none
can doubt if they refer to the recently Pub
l:shcd exhibit of the financial condition Of
the county, where they will learn that the
county Of Muscaiine is in debt in Tho sum vi
1851 SO. Or if they wish to exchange a
small county order for cash, they will be in
formed that the creditors Of the county are
dependan. upon wealthy but liberal treas
urer, who has already advanced the sum Of
S2,7s6 So. take it for granted then that
our taxes are higher and our treasury is low,
and the object of this communication is to
show some of the causes which have produc-
ed this result.
The county of Muscatine about the year
1853 issued bonds to the amount Of $780,
coo payable to the Mississippi and Missouri
Railroad Company twenty years from date,
| and bearing interest at the rate Of ten per
cent per annum, payable annually in the
city of New York, for which the county re-
| ceived stock in that company to that amount
The people of the county were assured by
Farnham & Co., (who were thought to be
responsibility that for every dollar the people,
city AMI county Of Muscatine invested in
this railroad enterprise they Farnham & Co. }
would invest two dollars thus binding
| themselves to furnish two thirds of the CAPT
| tai to build the road through Muscatine
county, and in Pursuance of this contract
they (these self styled eastern capitalists,
subscribed stock so freely that their vote has
| always beea sufficient to control the action
of the company. But they are very careful
to pay nothing The binds of the county
are sold in the city of New York and thu
money realized from them, together witt
that raised on city bonds, and private sub
scrption, is expended on the work, but wher
these funds are exhausted, instead of paying
! over their subscription according to contract
these self styled eastern capitalists, Sc
themselves about some sharp financering
and mortgaged the road a. far as built Zen
tirely with funds not their OWN to procure
the ties, iron and rolling stock. Thus it vii
be seen that every foot of railroad in Mus
catine county has been built by citizens Of
the county, without any assistance from
these sharpers.
Tax payers Of Muscatne county, you are
the victims Of stock jobbers and railroad
sharks! A railroad tax Of $l5, 900 has beer
levied against you from year to year without
the sanction Of law or the shadow Of justice
! to pay the interest on these bonds thus
fraudulently obtained you have already
paid $4,000 and if you continue to pa,
at maturity, you VIII then have paid tn
handsome little sum of $3.50, 900, sum am
ply sufficient without any assistance iron
city or private subscription to build ever,
mile of railroad in the county or if yo'
choose to divest this fund from its presen
channel, it would build school house wort
one thousand dollars in every sub district il
the county, seminary of learning at tn
. county seat, and the interest on the balanc
would amply pay for all the teaching neces
: sary for I'LL time TO come, to give ever
mothers son and daughter in Muscatn
county good, thorough English education
If the editor Of this paper will be kin
enough to give me the privilege Ct his CO
umns may occasionally hereafter give 20
some further reasons why your taxes al
high and your treasury is low.
JOSEPH CRANE.
!. Lake Township. july 18th, 1861.