Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1866-02-01
The Chronicle.
DOD GEV VTLLE.
THURSDAY MORNING, FEB. l. 1866
Iowa County Bonds.

There is considerable excitement in this
county respecting the County Bonds, and
when we consider the vast amount of
property at stake, it is no wonder that it
should cause excitement. The bonds were
given twelve years ago, to aid in building
the Mineral Point RAILROAD. The principle
on them, which is $780, is not due un-
til 1868, but the interest, which is eight
per cent, ard which now amounts to
| $144, 900, never having been paid, the
Bond holders sued the county on that, and
the latest report is to the effect that they
have gained their suit, and obtained a
Judgment against the county for the
amount of their claims. But we are in
clincd to doubt this report, and believe the
first news. The first intelligence we re-
ceived Of the issue of the suit WAS tele-
graphic dispatch to the Chicago Times
stating that"the supreme court had decided
! that the law authorizing the issue of the
bonds was general law, and needed pub
lishing as such, and in consequence Of such
non-pubication, the bonds were void
Tfzen came a confirmation Of the same re-
port in the Chicago Repu61icaa, after
which the Nattonal Lstelijqencer publish
ed the following syllabus Of the reported
decision which for the benefit Of our read
| ers we insert:
F9. r Hapemyer &c. the Board Of Su-
peroisors Of {Ae E0nslty Of Iora.-Distinc-
tion bstue6i, Pudlic egd Prirate Laecs.-
The county Of Iowa issHcd boads to aid
railroad running through II, under an act
Of the Legislature authorizing all counties
and towns through which said railroad
passed to aid its construction. The con-
stitution Of the state requires all ganerel
laws to be published before they become
operative, or Of any force or effect, and
makes ii the duty Of the Secretary of State
and Attorney General to classify the laws
into two general classes-the one to en-
| brace ali laws of z general nature" joint
resolutions, and the others to include all
laws ro49ircI to be published, not en-
brac3d N the foriAer class.
The bonds were issued and had passed
INTO tie bands CT third parties, and thence
to }yat street, before G4e act authorizing
,uch aid to ih3 railroad had been publish
ID. twas then published by the proper
lathorlties as q prjgate or }0c@t taD-
Subsequently an action being brought in
tne United States courts for Wisconsin, by
the plaintiff, on about $50, 900 Of these
bonds, there was division ofopnion OH
the question Of the nature CT the Law,
whether private or general, and it came
thence to CHS court, where it was Eow
held, after exhaustive argument, per oPin-
ION 10y Justice Swayne that the law should
be h,ld to be- general one, and required
10 be published as such.
After he publication of the above, tho
people of the county generally were more
It ease, and were highly elated with the
result Of the suit. Bat the Madison Caps-
tOI of the 25th ult., contains an article
which says that Mat II. Carpenter, who
is the plaintiff S attorney in this case,
writes to the .9ontinet chat the Iowa
county bonds were declared valid by the
Supreme Court of the United States, on
the g;ound that the law under which they
were issued was a private law, and Its
publication Was not necessary to give it
effect"
Now, there is mistake some where
and we are inclined to think it is in this
latter report 1t sectAs unreasonable to
suppose that the above syllabus would
have been published in the Itelligencer if
such was not the fact Therefore let our
people be at rest, and not get alarmed un-
til further and more reliable news is re-
ceived For the yindication Of the people
Of this county in the stand they have tax
Ell in this matter, it should be distinctly
understood that when these bonds were
| given it was never expected taat thc eoun-
! " wonld ever be called upon to pay one
cent Of the principal or interest. II ncy-
er received one cent for them, and did not
expect to have to redeem them; and it
stands Oh nearly the same ground as the
farm mortgagors. The tax authorizing the
ssue Of these bonds was carried by ille-
gal votes, and it is even asserted that the
county officers were bribcd to get their
signatures to the bonds. Therefore, the
people Of Iowa county cannot be blamed
much for trying TO avoid paying them and
the editor of the Grant county Herald is
laboring under an error when he calls it
"a breach Of faith, and q manifest swiadle
on the part ofthe agents Of Iowa county"
sy-The aggregate vaiue Of the real and
personal property in Iowa county, as
eqaalized by the county board Of super
visors for the year 1865, was s2,7@+,o9S.
The county bonds, with interest by the
time that they aye due, amounts to $780,
coo. five should be so unlueky as to be
obliged to pay them, with the interest on
the Judgment, which would be SI2 500
more and the costs ef salt, whieh Garnet
be less than $1,000, making total Of
$S5o,0o To pay this, it would take
nearly onc-eighth of the entire property Of
the county, or about thirteen csnts on the
dollar valuation. This enormous lax, to
gether with the necessary government
tS-.-e, can never Be paid; considering
which, and the fact that the entire thing
vcas . svindia there Is M wonder that the