The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-06-01

Donds Not to be Delivered Until q
Train OF Cars Runs from Cairo TO
Aforementioned Not 10 Com
menee 70 Aeerue-who can OBJECT
On the 18th inst. Col. Taylor addressed
letter to Gen. Burnside asking him to
state definitely what he required from the
counties along the line of the Cairo and
Vincennes Railroad. Yesterday morning
Col Taylor received reply to his letter,
enclosing copy Of letter written by
Burnside to Raum few days ago, from
which we extract the following PROPOSE
ton
~ siU agree not TO ask for a bond from
any county or totcn on the line until the
road Is ready 10 pass a train Of cars from
Cairo TO Vineennes 1iU ask OF the
couuties that the bonds be executed TO be
held in esero,o by some Trust Company TO
BE DELIVERED WHEN TRAIN OF CARS
HAS RUN OVER A ENTIRE LINE FROM
CAIRO TO VIScESsEs. The fact that
bonds are placed in escrow in the hands Of
| trust company, in New York or else
where, does not in my opinion, constitute
delivery, and they are not authorized TO
deliver them until atrain Of cars has passed
ONci tue cHbHo mt HE Will Dt u bhtIUR
to all counties, because the agreement mH
be that The interest will not commence TO
accrue until me train passes orer the en-
tire rodd
We can scarcely believe--but we do
that the County Court will refuse to ac-
cept this proposition. 1t is all that any
fair-minded man could ask of the Presi-
dent and officers of the q. q V. X. r. Co.
What Is the objection to itH There can
no sound reason be urged-not one. 1t
may be said the bonds must be issued, and
thus u source Of corruptiop is created
but there is no force in so silly an objec-
ton. The County Court, under this pro-
position, has the right to select the COM
pany to hold the bonds, and make the
construction Of the road, complete from
end to end. the condition upon which they
shall be delivered to the CO v. X. K. Co.,
and that interest shall not commence to
accrue until the bonds have been thus de-
livered. Thus, the county will, in effect,
hold the bonds until the cars run from
Cairo to Vinccnnes.
But the carper may ask: "Why not
leave the bonds in the hands of the Coun-
ty Court?' There are many reasons. II
the reader intended to build road on the
condition that he should receive 500, 900
from this county and 100000 from that
county Oh the completion of the road,
what would he say to the County Court?
Would he say II have great confidence
in County Courts, and if you promise that
the bonds shall be issued when the road is
completed, all right Or would he, like
wise man say "Well / accept. If
you agree to give me 800, 900 bonds when
the road is finished ! will 60 on but
County Courts are uncertain quantatics.
You who compose the court this year are
honest and intelligent gentlemen, and If
you were certain to remain in for three
years, and could be insured that you
would not change your minds l
would be satisfied with your prom.
Use to hand over. But next year you
successors may be block heads, who may
attempt to wipe out the contract between
US and thus give me an expensive law suit.
That would be disagreeable. Such pos
sibility must be avoided. Therefore
would suggest that you name, say the
most honest Trust Company in the United
States--some company the honesty of
which can no more be doubted than that
Of the saints--snd there are such compan-
les, since County Courts have not ab-
sorbed all the honesty in the land-and
instruct the company that the bonds are
not to be delivered to me until the road is
. completed and cars are running on it,
but that, when this condition is complied
with, the bonds are to be delivered to me,
at which time interest on
said bonds will begin to run. In
this way the court will get what it de-
mands and ! will escape the possibility Of
having to deal with successors of yours
who may be fools or rascals. This is the
precaution any wise man would take in
dealing with any public corporation, and
this is the safeguard which Burnside now
demands. He could ask no less, and the
acquiescence of the county courts along
the line will beyond doubt, secure to us
the Cairo and Vincennes road, without
which Cairo can never hope to prosper.