, 1873-09-16
THE MACoup1N COUNTY bonds.


. THE MAC0UPIN COUNTY BONDS.
Macoupin County is just now roaping tho
fruits Of olooting dishonest and Irresponsible
men to oflco, and clothing them with tho powor
to Issue and sell county bonds and expend tho
money. In 1867, 7. J. Loomis WAS County
tho County. Thoao two persons hold an official
meeting and elected III. .Loomis. Isham J.pullis,
A. McKim Dubois, aud George II. Holiday Com
miasioners to build o new Courthouse at Cur
linyille. Holiday was County Olork and Dubois
was bankor. This was in March, 1867. Public
meetings wero hold, ut which the action looking
to tho building Of now Oourt-Houso WAS olfor-
cd. Tho Commissioners, howover, disrogarding
tho popular remonBtrnuceB, and having tho Law
on their side, proceeded. An application for IN
injunction to restrain tho Commissioners waa
refusod, they being within tho 1mits Of tho dis
orotonary power vested in thona. It was at
that timo represented by tho petitioners TINT
tho Cours-House would coat 825o,000, to which
tho Commissioners answered TINT it would not
cost over s1s0,000. Subsequently when tho
foundations woro 1nid md the specifications
mnde public, q large meeting was hold to protest
agalnat tho further progress Of the building.
At this meeting, statement that tho work
would cost half q million Of dollars WAS prompt-
II mot By an assurance from tho Commissioners
that 1t would not exceed $S50,000. It was givon
out that tho building would be Of brick with
stone foundations in timo, howoyor, contracts
wore lot for stono building, to cost, when
completed, $75o,0oo. In the meantime, county
bonds had boon issued and sold, and that,
by law. Tho threo of1lco-holdors md their
naaociato applied to tho Legislature to legalizo
tho over-issuo Of bonds md to authorize an I'D
diional Issue. In vain did the poop1o OF tho coun
ty protest. The three politicians mud tho bond
holders were strong enough to induce tho Legis-
1ature to pass both bills against the romon-
atrances Of tho people of tho county. Under
these laws, the Commissioners isauod and sold
bonds, bearing 10 por cont Interest,", to tho
amount altogether OF 31,4Go,000. Having sold
tho bonds, some, it not all, Of the Commission
ors fled the county. II NO romemhor rightly
the Grand Jury indicted the County Clerk, who
waa ono Of tho Commissioners, for some Of
fense connected with the issue Of tho
bonds. The county has, however, re-
fused to make any appropriation to
lovy any tn1 for that purpose. In this
way, tho accrued interest for several years
is now due. Some Of tho bondholdors have
brought suit in tho United States Circuit Court
for the Southern District Of Illinois upon their
overdue interest coupons, and have obtained
Judgment therefor. Tho county failing to loyy
any tax to pay theso Judgments, tho Court issued
u poremptory ordor requiring tho Supervisors to
mako auch levy. The foeling In tho county la
strongly against payment. Should tho Super
viaors refuse to levy the tax, they will be arrest
cd for contempt, and will not be released until
thoy comply. Should they 1ovy the tax, it will
not bo collected; no person will pay tho tax
voluntarily, and no porson will buy property
sold for non-payment of that tax. =
While tho robbery OF tho peoplo BY their own
officers is confessod mud while the dobt itsclt ia
q largo ono for that county, and while the pay
mont of tho tax may be dofeated by question:
able means for several years, We suggest that
tho choapest way out Of tho difficulty is for tho
county to pay both intoroBs aud principal. In
such case, honoaty is certainly the best policy.
Macoupin Ia ono Of the most fertile aud pro-
duotive counties In tho State. In 1879, thoro
were 250, 600 acros Of land in field products.
Tho county is vol provided with railroads, and
is SO situated that st. Louis and Chicago arc
both within convenient distance and oasy Of ac-
coss. It waa prosperous county until it ro-
solved to repudiato. We notice tlat tho assoea-
ment for 1878 Is more than million losB
than 1t waa last year, and two millions
1eas than it waa In 1871. Tho aureBt
poaslblo way to drive wealth aud capital out Of
tho county, and to keep population from going
there ia to destroy tho public credit. An escaps
from Tux Of $4,000 year for interest on
these bonds Ia but poorly compensated by & loss
OF reputation. onco known as people who
have repudtatcd their debt, tho value Of tloir
I property will doprociate, and thoy will bo unable
to find customers at any price. Already, tho
assessed valuation OF the county has doollnod
ncarly 80 per cent since the first refusal to pay
tho interest on the bontls and that depreciation
will 60 on until the county will bo avoided alto
gethor. While 1t is evident that tho county VAS
outrageously robbed by ita own ofllcera, tho boHt
policy is to meet tho consequences brayoly, aud
pay the debt.
GraHft bfrhftior rnf, LII
aons Las boon developed In the African Blotho-
dist Episcopal Dothel Church, tho wealthioat COL
ored church Of Now York, tho Trustooa Of which
arc charged with having ombozzlod s120 OF
tho church funds during tho past nino yearp