The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1867-07-18

w.sB4s MITCHELL. EDITOR ,&5g
Thursday, July Is, 1867.
The mighty intellects that preside
over the columns of the st. Paul dailies
are devoting their wonderful powers
with unceasing assiduity to convince
the people Of Minnesota that, in order |
to avoid the stain of reputation, they !
must submit to the infamous bond swim
die which these papers advocate. The
impertinence-nay, the downright ras-
cality-of the proposition is only equal
led by tho pertinacity with which it is
pushed. The State is supposed to be
the patient, down whose throat these
rresumptuous quacks are endeavoring
to force deathly drug, on the pretense
of Graduating a disease. "Take our
medicine you must"-bellow these
bond doctors-':you shall have no 9th
er. fit kills you, or cripples you for
years, no matter. We, of the Press
ahd Pioneer, say it!'
Such is the case The bond holders
aud their organs will admit that there
is no other plan, or shall be no other,
by which the difficulty can be settled.
They demand that the State shall pay
the full amount, principal and interest,
Notwithstanding thu undisputed fact
that it never received one-twentieth of
it in benefit Of any kind. The whole
scheme bears the brand Of rascality,
and the St. Paul papers know this bet
ter than any one else.
Governor RamseJ, in his message
delivered January I'd, lS6O-and we
quote from Gov. r. the more readily
as oil will agree that he is invariably
cautious and dispatoinate in his state
ments-says:
Nor will it be denied, on the part of these
Companies, that while they solicited and
accepted tho loan Of the special bonds of
the State, they solemnly engaged not only
to build the Roads without fail, but to save
the State harmless from ever paying a dol
lar Of interest or principal on the bonds.
But from present appearances, and I say
1t with regret, neitherithe expectations Of
the people nor the promises of the Conpa-
lies are likely to be realized.
Here is the plain, unequiyocal Ian
guage of the Executive of the State
used at time when all the facts coz
neeted with the bonds and the action of
the Railroad Companies were fresh in
mind. Can it be wondered at that the
people now refuse to lift upon their
shoulders the huge dcbt-almost doub-
led since ls60-when they have pres
ent knowledge and every precedent to
show that the debt is pot an honest
one? In the language of Governor
Ramsey, the Railroad Companies s:soz.
EMMY engaged not only to build Me
Roads aeiMow Jail, but to save The
State harmless from erer paying a dol
Tar Of interest or principal ON The
bonds" What are the good aud suf
hcieut reasons, since developed, thai
should require the State to tax itsel1
for years, with a grevious burden, il
order to legalize fraud-a swindle-
and fill the pockets of defaulting con
tractors and bought-up newspaper pub
Is part OF their plan, the manipula.
tors Of this Bond swindle have obtained
and published a letter from certain New
York bankers and brokers, money-lend,
ers and stockholders, by the name Of
T. NJ. Meyers & Co., whose place of
business is on Wall street. These gen.
tlemen deplore the reputation of the
old Railroad Bonds, and sagely advise
the people Of Minnesota to come "fair-
~ and squarely" up to the rack, put
their thumbs in the screws, and stand
uncomplainingly while the money that
brought sweat-drops to their brow is
wruos from their pocket. Messrs. P.
NJ. NJ. Il Co. are doubtless shrevd bank
ers, men who understand how to "cor-
ner" victim, and whose. notions of
business are similar to those of all Wall
street jobbers; but when they convince
the people Of this State that they have
none OF these bonds in their possession
or that they have no interest whatever
in securing their payment, then will
their counsel come with a better grace.
and be received With more considera-
ton. The taxpayers of Minnesota are
pulled up sufficiently to consider them
selves quite competent to decide this
issue without any .unasked-for advice
from outsiders, and especially advice
which comes from so questionable a
source.
There is manifest difference be-
tween paying what is right, and rcpu.
diation: We do not think the peo ole
OF Minnesota honestly owe five Der
cent Of the face Of these bonds, but VIC
believe they are willing to pay just
what the bonds cost their holders-op-
ly this and nothing more. There is
nothing in honor, or justice, or equity
that demands any greater sacrifice of
them. We do not say this because we
believe with the Lake City Leader,
"A paper which is opposed to the
scheme to be voted on this fall, and "a
vors settlement similar in nature t,
that just stated-beeause "the swindle
had the consent of the. people" The
people had no part in the swindie,-
They acted upon the "solemn promi-
ses" Of the Companies that the roads