Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1869-02-10

Tns Cirr rxsr Mssrixa.-Our people
are a..sd to meet Ia bcdy at ths City
Hall this evening to contiisr their csrps-
rate indebtedness, aud 10 determine, per
hsps. how, when, aud 10 What manner il
shall bs paid. 1t is well. We, the people
Of Davenport. are in debt. We wanted
meney once, aud, We vent among these
whs hsd Il and asked then to iassr 40 with
. loan. They received eur protss.ations sf
geod faith and eur straigh.ferward premises
to pay, aud let u have The cash ws desired.
II WAS . well understood, fair and square
business transac,ion. We tssk their money
and We used it. We have enjoyed the
benefits /, secured to W for these many
years. We erjoy il still, and hope long to
continue to erjoy il. But low is it With
the other psrlys How have cur creditors
enjoyed the transactioni Not extremely
we'll, perhaps, for we have not been very
prompt in performing our part Of the argu-
ment. Hard times appeared and
uammsllsd cur commercial interests; but
thank fortune the clouds Of advsrsity have
been scattered, and We, ~ city are q ,ating
on prssperously again. Our creditors see
ing that such 10 the case have become clam
orous for their dues. That is right. We
have no grounds for complaint. We knew
that We owe them. We know that We are
able 70 pay them. New let " take the
necessary steps to do it. The princiT al ws
have got TO pay in full. There 10 no use Of
bsisg nealy neuthed sbsut it Or dsdgisg
the issue on this side sr that. Whether
we avail ourselves of the provisions Of the
new Law or stand BY the one now in force,
that principal Of $3.50. 600. mere or less,
must be paid. The more We Try to evAds il
the more credit Ne lose, and the mere
heavy bills Of cost and legal fess shall We
have to pay. The interest has always been
regarded as Highland it 10 we'll to claim .
reduction thereon, and make the very best
terms We can on all coupsns, either due or
to become due; aud this, ws take il, is the
main business Of the meeting Of the people
to,night. 1t may DO that We cannet legally
claim this reduction; but to get the matter
in proper shape for adjustment. and also On
the score Of ample security for promp. pay
ment Of the interest and ultimate liquida>
tion Of the principal, there is room to be-
lisvs that our creditors will meet % in the
spirit Of compromise. Let US not throw
away this chance by demanding heavy
reduction upon the principal II would be
folly. Who among US all, fellow citizens,
who, having become the honest and limos
cent purchaser OF ten thousand dollars
worth Of our bonds would consent to take
less than their fa.es Davenport is rich.
She 10 . millionaire our debt is in the
lower hundreds Of tho usands, and We cam
not consistently plead poverty. Our claim
then, is on reduction Of interest, and let
that point be secured AZ far a. possible.
Five or six per cent. is plenty. Secure ths.
on past duo and maturing coupons. and
nothing moro csn be expected. 1t will be
. material reduction, and BY sharply ferret>
ing out cur resources We can meet our an
nual interest withouts cent increase in cur
tax levy. Let the matter be we'll attended
to to>night.
Wo,~uv or Iu,rAr,cS Thu accumulation