The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1875-12-10

fssssAFHe ~ - slifisH tAAt n VI II
MI MI M4Avs rtissN ,AAs wv IN ataet 4
#AmiA ~ hAse saNFsG NtA wv Mttf
I'm ssAhFA IA AAAEs NfttseA VA rAAtsNl
@eNt W#4Hs ~ltA 49, Atts#t NJ wAieA Il
4f w. tNsNfFsA*s a#Nsst sNetH @ss
sAA eAf eiAfeA i*tstteA N iNN VA i
twtss N Mss asi ssa sssfs~sasA
FsAat rsssls sils p4stAHM ~ltAw~s
sl. FsHal,,iss aems4el VI Ne sNllseAa 4
80 .ssnst+stAilse n ls1i.lf~sh sna
ssstssss Win IN tss.asattsaN Vie
#K,wsisstsi Al t#AH#tsi sts##tt&s 4
Via ssstlsss tswla u asstlasA sma
wssi+wN.u HsAt vAtfr tssiemTnss
wre. iHgmslat tf4stsf tsAnS W. 4
si VI wna HNNAH Ft naAsls NrA sngiises
IA hs stmt 49, tAs lHAAaAa Iht
VI ilAltr II ~ 80 W. Anlsvt.Aits
Asr@9A h hs'a .ua AssatAnas uHavs
sAliAg n wes n,AlnR u she Iat
ssv " ~ that sIes alMsulsis. ~
attrsfrd IL rsfat m.msass sNss \
sslsi md that tie sesd ~ss essMssfaess
"A d, less resi- II Tim. sna ntanes sksh
wts sneui,sva ress.'als NJ ssfamtas
fan w sits~n finn ~islen that eetmss
snes the fas. The pssiesA 49, MA
conserved ~ lss,s'e tnas, and Nv
prevalent vlinissn ~ss TINT N rwnld
ns, Ir wuit.L ras III ttiyRse rAvithl
alrnsi n ~. national ~usA, uttFIn4
asins IN 4 nasirrsl nsrsss'ss sui w.
gaMinS AAtiesal asei.ianpe
1'he policy IT ths ra,etnWeh' r.
Ay uethins II Ia Subsequent wans ~
power s'spj IN The way II ,hr intel
States taking The ~esh In i's vwe
hands, and II esen ths. we vi ~,
reasons VI economy suggested that y
was hts,rt 10 enlist private capital and
Individual thssfptlrs. Tine shr
scheme contemplated prof, " inl'sld.
nails, fur. withuu, teasanails rsIvr.
saiiun III that the raIaiai III uld noi
have been obtained hnr tie requisite
skill anal enterprise, Int tile govern.
men, sustained the enterprise " al.
yance ils own interests aud II snl.as.
orod Ia enlist private eaplal II. a means
~ securing tie hu'lilns II tbs Rad 10
be used for governmental purposes.
Whatever obligations. therefore, tested
~ the company. mntt depend Oh the
true meaning NJ the enactment iirclf.
viewed III the light i. een.elurorancpus
Lis,nry. lib, cnurl nnes on ~ con.
stfuc thc ats Incorporating thu Cum.
Parry. even Che title III tho original
at of IT,. whith se.ur u Nv d sub.
jet ~ special consideration, declares
the nationa! character u tho work
The bod, " the aet contains tho *.
preston that lie pbjert II promote
the public interests and wslinrs, end
10 secure 10 tho Government, ~ ~
times. but particularly In sims ~ wss,
the use and bsneni u tho ssms. Tor
postal. military and other puvposss. vi
this BIN had bsen equality explicit IN
relation 10 these hunIs, there would
have been 10 occasion for thu suit,
hut even IN TINT particular, there IN
~ serious difficulty III getting ~ tho /
iruc meaning ~ Congress. IN pro6cr. /
ed inducements % build the Rad. III
way ~ land. anil Interest, bearing
bonds VI tho I1ileI siates, There IL
no controversy about sb. terms on
wh,eh tho lands wors rrsnted, and
tho only point |. tho nature ard ~.
tent vi the obligations ~ ss.e ~.~g""J |
tv pay these bbi,dt u y mol doubted
,hs' Tho government n ~ DO fslD,bntsrI
principal a~I interest. hut thu precise
question fur decision |. whether tbs
company n required - ray tho Inter.
~ On maturity u The principal Tbs
solution depends npva he MeaDing u
the nth end saith sections 81 the not
u tt69. and the sistl section ~ The
act u 1854. The manifest purpose "
the fifth section of the ~. II 1862 II
10 take q lien IN the property ~ The
company for the ultimate redemption
IL Ito bonds, principal and interest,
Lat tho way aud iMe srv left ~ fui-
'i,sr provisions.
That Tho government WAS expected
~ the hrst instance u ~, the interest,
u clear enough, fgf ! mortgage was
taken u secure The rsps ,ment ~ bonds
Together with vi tho interest thereon
paid w tho government When ~.
payment II spoken u II Ii Understood
that something advanced by thu Unit.
ID State, II u BE- paid back, Had
" been ibe intention II Congress that
sLe corporation i,sslf should psy ths
interest ~ these Lpn.ln ~ II fsll duo
The rbrassvDrr, appropriate ~ such
purposes woHld hasn burn used, bat
when snd how thu reimbursement ~a.
N hg made ~as 10 ba III conformity
with thu terms prescribed In other por.
t,oA III tho mt. There mr. three
things and three only which ibe cur
Iofusien II required 10 do concerning
tbs l'o,nls III controversy, Pifst. ~
Iay said bonds NJ maturity; sseoDd,
" allow the government 10 retain can,-
rnn,Asiob due e. tho corporation for
services rendered, md ii apply tho
Same " Tie payment u the bonds and
iuirfest. third, u m, over " TIM coy.
eminent, after lLs rad Ias beo0 cVm-
pIeteI. A,e per eaui " Lin net earn.
Jugs n tie rad. ~ bs applied ~ The
payment n ibr bnndr aud iniarost, II
IL Augbt H. give 4, thu word ',M,Atur+
ny double qualification. applying Il
10 ese, payment II interest NJ II falls
due. NJ xelI NJ IL tie principal hui
ihis IA psten'ing .le Word beyond is
natural and ohtiaus meaning. and II
epnsrat, 4, III legal rules. Courts can
~ tarp', 4 deficiency IN legislation,
mr. anutJ relief bsrhusa d~fieicnei.n
49, .u, ID 1'Le r'irnm, 10 ray
'l,u Lends ~ maturity doM MT bar
! thu st,M sought ~ liz attributed ~ ",
y appi,es obsiDu,l, " lilo obligation
! ~ Ias bMh principal aul interest. but
Il davs nj iDJi, m obligation - psy
! t..tntuAsa a. lt.N nust..A . IA 49, s,~kss~Y