Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1871-06-23
County Indebtedness and Railroad
... Extension.

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Feeling deep interest in the welfare of
Iowa County, as residents and taxpayers,
we deem it our duty to issue an address
to our fellow citizens on the county in
debtedness, and the proposed railroad ex-
tension. 1t is useless to attempt to hide
the fact that our County is in bad con-
dition, being incumbered with a heavy
debt amounting to $500,000, and placed
in such a condition that we cannot raise
single dollar of State. County, Town or
School tax, without collecting the heavy
bond tax to pay off the judgments obtain
ed by the bond holders against the county.
1t is too late now to discuss the manner of
our getting into such a deplorable condi-
tion but it is wise on our part to advocate
the best method of getting out of this diff
fculty. While there was any legal RENE
dy left for the County, we were in favor of
employing the best legal talent that the
state contained, but the decisions Of the
Supreme Courts having been given inyari-
ably against us, we think that it is our
duty as law-abiding citizens, to respect and
be governed by these decisions. We con
tend that sufficient of the peoples money
has been wasted in litigation, and we are
utterly opposed to paying a single dollar
more in defending hopeless case. The
highest court has pronounced the Iowa
County Bends valid the best legal talent
in the county and state, say that the bonds
must be paid sometime, and we are con-
WINGED that it is the best policy to settle
with the bond holders as soon as possible
and cease useless strife.
We will present few facts for the con-
sideration of tax payers, to show how rap
idly the debt is accommodating, and that it
would be wiser to commence to pay the
debt at once, than have it run for a few
years longer, and squander away thous-
ands of dollars in lawyers fees &c. The
bonds have been issued about eighteen
years, and bear interest at the rate Of
eight per cent, which with the principal |
$150,000, amount to $336,000, leaving
balance of $l34,000, as interest on the
judgments given against the county and
costs of suits, large sum, almost equal
ing in magnitude the principal.
In addition large sum, estimated at
about $50, 900 has been expended in law
yer fees in travelling and other expenses of
the County Board to Madison and Milwau.
kee, and other incidental expenses incur
red in defending the various bond suits
1t does not require very wise man to
foresee that if such a state Of things con-
tnue the county must become hopelessly |
bankrupt. ..H.e
1t has been stated at public meetings |
that the bonds cannot be collected if the
citizens are united in their opposition.
We remember similar statements being
made during the late fearful rebellion, sen
ators and representatives in congress,
members of different legislatures and even
men in our own county asserted that the
rebellion could not be crushed out that
the United States authority could not be
restored and maintained in the rebel states,
and also that there had never been a sim
gle instance on record of seven millions of
people being conquered when fighting for
their homes and fresides. History shows
how foolish were their assertions, and how
widely they erred, and we feel assured that
the history of the failure, will show us
that there is sufficient power vested in the
United States government to enforce the
decisions of the courts and to collect taxes
to pay the judgments when all other
means fail. We think that the people of
Iowa County ought not to be governed by
the advice of persons who advance such
foolish and revolutionary ideas, but they
should listen to the sensible ideas of such
men an Judge Mills, the Hon. Henry Ma
COON and others who are eminently quail
fled to give good sound advice.
We feel convinced that it would be to
the general interest of the county to stop
litigation, to arrange matters with the bond
holders and have the rail road extended |
through the county. By exchanging the
county bonds and judgments for new
bonds, bearing interest at seven per cent.
tax of one per cent. per annum on the
assessed value if the county would pay off
the whole debt, principal and interest in
about ten years. The advantages of a
railroad running through the county, in
tersecting the Milwaukee & Prairie du
Chen road, extending away up into the
lumber regions of the north, and connec-
ting with the North Pacific road, would
more than counter bs iaass al annual tax