New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-08-15

part which In yonr opinion win condnce 10 that ond In
respect either TO the manner In which the road shah be
managed ana conducted or In any other respect re
greet that any question has arisen the number and
Endorsement OF any bonds which have been issued by the
Company 1ney were all Issued in due course ana we
know ~ difference in respect them The parties who
took aud now hold them know OF difference. ana
took them elng upon the Endorsement OF the Governor
the state their cnuineness being authenticated by
his signature and the Great Seal OF the state regret
tain that the ndorsed bonds of the state issned
by this or any other corporation, stand vel N
the price and credit to which they fairly entitled
while cloud Is resting upon them. You not respo
Is In your custody desire that you nav reconsider
your views In that respect being persuaded that VIII
qure you to recognize the acts Of your predecessor
valid whatever might nave been your action had you
been IN his stead ID. N. STANTON, Pres.
The letter which Gov Lindsay himself wrote and
signed in answer to mine and put In the keeping Of
Mckay is as follows:
d. N. STANTON, esq, President Neo- York
DEAR SIR; am in receipt Of your letter Of the sth
Co. TO pay the interest due on the 100000 direct
bonds issned by the State of Alabama and loaned
pany, and on A,o000O0 indorsed bonds. and on
no more The reasons which prompted me, or rather
yOu will find set forth In detail in my communication to
Duncan, sherman Co., and published in The Hev York
ton Of the Government Of Alabama, seek 10 guard
with vigilance and zeal her varied interests yet at the
relied her fidelity to and her promptitude in the dis
charge of her obligations well beray consistent
OF the vast opulent IF wealth with which
Nature has abundanty gifted her. Hence you viii
readily conceive that II 10 not my design 10 wantonly
Obstrnct the progress to defeat the early ultimate
OF the great enterprise In which you engaged
and rapidly fastening 10 completion. l would rather
contribute TO promote than to use my official position to
retard it.
1t s unnecessary for me to reterate my condemnation
Of the official conduct OF my predecessor in the issuance
and Endorsement of bonds in clear and palpable viola
ton of the laws under which ne acted nor 10 hold the
Alabama and Chattanooga Railroad Company IN the
highest degree reprehensbe for being either active
passive participants in his Illegal actions but while do
this do not forget that so far as the states liabilities
concerned has become matter for be
her and the parties VINO the ~ ee and es
Smith your Company.
nay d me aoI 20 nvestiesre and dees the eso
yet being cognzant OF the spirit which actuated the Gen
able interpret its meaning believe that
have acted in accordance with its PROVISIONS and shall
faithful the contract OF the statutes authorizing in
dorsenent and will not seek to escape Its binding force
demanded U.s. that the other contracting parties win dill
gently and honestly strive to perform their duties and
pense, &C. wLamount TO about s26cO1 70 that amount
the State will have claim upon your road lot the pres
ent, but 20 the mode or time OF eniOcglts eoecon
have not considered. desire 10 you succeed with
your road and to the State from loss ana her
credit from damage. have desire nor prurent us
position to seize your road simply wish To protect the
state against loss in the best aud suIest way and am
certainly prepared TO say that Its transfer TO the
management OF Others would be an eligible recourse.
Indeed, do not hesitate IN my belief that tnose VINO
built IL will likely achieve its 1na triumph aud the
ultimate redemption OF floating and bonded indebted
These considerations weighty, and Will con
tnue be weghty, III their influence upon all my &C
tons in the premises and long as satisfied that
the Company earnest and faithful In their Efforts to
fulfill their obligations TO the State those EFFORTS s not
be thwared INSTRUCTED by for my object might
defeated by substituting inferior and incompetent
agencies Go then. with your enterprise, complete II
and triumph and hope TO congratulate you when you
pay or contribute the payment OF July interest how
received from trusted servants In the past Very
spectfuly, ROBT H. lISDaAf, Gov OF hI@bahla-