Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1874-03-05
A Land Grab.

-Tsks~~--
A Land Grab. s
A special Washington telegram,
dated Feb. a, was sent TO the Chica-
go Tribune, Cincinnati G7hifaerefdt,
and perhaps hundred other dai.ies,
and published OH the 25th, announc-
ing that the most audacloas and
unblushing job before Congress at
present il set forth in the House bill
No. 1921, introduced by Mr.. Dunnell,
Of Minnesota, member Of the Pub
lie Lands Committee, to incorporate
the international Land and lmmi-
grafton Company
The bin authorizes the company
to bring immigrants into the Unit
ed States without reference TO u. Is.
laws, giving them full liberty to do
as they please" This provision In
the first section is said to be used
only as blind to hide the real OBJ
iect5 Of the schemers, who are author
ized by the bill to loan money up
on bonds and mortgages, or upon
hypolhecation OF real estate, bonds
or mortgages, or any other such &C.
curity, for any period Of credit"
The company may commence bust
nusa when enc million dollars has
been subscribed, and I'VE per eemti
paid in. An animal showing Is to be
made to the Secretary of state.
Stock holders TO be liable for debts oi
the company, to the amount unpaid
on their shares, until said shares
shall be fully paid up, and no furth.
or. The concevn may loan to indi-
viduaIs, corporations, cities, towns,
or States, and, if the dispatch cor.
rectly states il, ain any case il shall
be lawful for the borrower 10 accept
bonds Of said company in lieu
OF money on such loans, thus
making the company paper a
legal currency" IThe Trib'a'c
edilorially says:
The real object Of the bill is 10 se-
cure lands belonging 70 the Govern.
inrnt at merely nominal prices, and
then enter them in the Company =
inventories at high valuation.
There are many lands Ia well-set-
tied States which still belong to the
Government, viz. Submerged
lands, now well drained; "bit"
lands, or graduated lands, as in Mis-.
souri,, OF which Ihe entries, which
were fraudulent and void, have failed
to divest The government OF title
Indian lands, ctc. OF these classes
there are several millions Of acres
These lands, If secured at "A nOminhl
price, can be put IN the c0npany's
invoices at an hundred fold theiI
cost as the basis Of bonds. lmini'
grants viii be made use Of TO furnish
a market for the bonds and col0DlHe
the lands at excessive valuations. a
corporation with the combined pow.
ers of saving banks, and deposit and
discount banks, Of loan offices and
TRANSFORMATION companies, composed
of men connected with the Land
Department, aud subject only TO the
nominal supervision of the Secretary
of the Interior, can procure, IN fact
If not hy the terms Gf the bill, the
absolute control Of all the remnant
lands fn the United States, and ex-
paiiG itself afterwards.
A peculiar feature Of the scheme u
that necessarily all hut one, or what
eyer number constitute tie ring, are
merely eat@pa~s. For whoever first
signs his name 90 the subscription
hooks can, hy subscribing $l,00O,N ,Nt
and paying $50 ,060, absorb the entire
capital and monbpolize the franchis-
~ conferred. If Congress actHsily
consents to grant national charter
I 10 a concern or this Kind, 10 will be
the first time in tile history Of oul
Government that such general and
comprehensive powers have been
ceded, and the Foriyfhird Congress
viii earn the reputation Of having
distaneed ita recent predecessors In
/ THE work Of barteriDg away the
rights of The people.
Among the names Of incorporn'
tors, from nearly all the States and
Territories, given in the dispatch
that or WiIliam L.Stone, uf Iowa, AZ,