The daily Argus. (Rock Island, Ill.) 1873-1877, 1875-04-22

SPRINGFIELD. ILL.,, April 19.-The Gov
ernor leaves for the east to. morrow night,
and during his absence Lieut. Coy. Glenn
will occupy the executive Office.
Can't. K. ID. Noleman, the lately appoint.
ed penitentiary commissioner, today filled
his official oath and bond in the office of
secretary Of state. Ex-Congressman James
S. Martin is credited with this appoint
ment, and it is understood that Logan con-
Cured in it. 1t is said that Logan has
gone back on Wham, and declares that he
was not responsible either for his original
appointment or his late conduct as against
Beveridge and the members of the com.
mission.
The governor to day signed the anti
scalpers' bill, and it goes into effect July |.
He has vetoed Cummings's bill in relation
to payment of railroad aid debts Follow
ing is the
VETO MESSAGE
This bill provides that the interest on
registered bonds issued in aid of rail
roads shall be paid at the place designated
in said bonds, and that the local authori-
ties may, in their discretion, levy tax for
the payment of the interest thereon. The
bill materially modi6es the act of Feb. 13,
1865, and the act of April Is, 1869. These
two acts authorize the registration of s:id
bonds in the auditors Office, and when
registered the state assumes to levy, col
lect, and pay the interest thereon, in the
/ same manner rs on the bonds of the state
} On the 1st day of December, 1874, there
were outstanding bonds registered under
the first mentioned act amounting to ST.
S24, ,824.27. and the second amounting to
= | IA nS1 2S1 SO %ofol
/ These bonds were issued at various dates,
: July !, 1865, to July /, 1874, by the sew
eral authorities OF 49 different counties,
t 81 cities 81 incorporated towns, and 234
townships, aud are payable upon their
! face, principal and interest, at sundry
3 times and places. To enhance the value
e OF said bonds. the local authorities avail
e themselves of the provisions of the act Of
! Feb l3. 1865, and of the act of April Is.
= 1862 The bonds were registered, and
the fact of registration noted thereon. By
thus accepting the provisions Of said act,
9 the interest on said registered bonds be-
came payable at the same time and place
;, as the interest on state bonds, and the
! state became obligated to levy and collect
: the taxes and pay the interest on said reg
= istered bonds. The act of registration
:, changed the terms and conditions of sale
bonds as to the time and place of payment
OF interest, and the state assumed, by
consent of the maker, to levy, collect, ant
pay the interest. This modification of the
G terms and undertaking On the part of thu
l. state added value to the bonds, made then
a marketable, and entered into the contrac
d between the maker and purchaser In fact
It the faith of the state is pledged to the col
J. lection and payment of the interest on salt
S registered bonds, in the manner specifet
'e in said acts; and, having received the ben
e6ts of said acts neither the state. coun
ty, town nor township can afford to MULTI
re the provisions thereof even under tn
Is solemn form of legislation. Public credi
er is of more value than gold, aud publ
re honor is beyond price. In my opinion thi
in bill impairs the obligation of contracts. Vi
el olates public faith. and is unconstitutiona
re Therefore l withhold my approval and I'll
the bill with my objections thereto, in tn
to Office Of the secretary of state.
to JOHN L. BEvERIDGE, Governor.
ke April l9, 1875.