The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1875-02-09
SENATOR BERRY.

Mr.. Berry remembered some of the
facts. There was LoEenzo D. Smith who
expended $l7, Oo0 in cash on our rail-
roads. 10 obtain the money he mortgage
ed fine property and lost it, and died
with a mere Homestead left. True he
received $4,000 of our bonds in place of
his borrowed money. And there was
William Ashley Jones Who ruined himself
in laying the foundation of our railway
system and is to. day, despite our bonds he
received for his fortune, q
:miserably poor man. Fur
matters referred to in the newspaper ar
&icle read at the desk, except what he
had already stated.
SENATOR COX.
Mr.. Cox said it seemed to him the con.
sttution placed these lands fer out of the
reach of speculation. The gentleman
from Steele would make it more safe by
throwing open the doors. On the ques-
ton now raised he woeld only say he
would not bear that the stigma of repu-
diatio2 should rest on the State. He
would remind the gentleman that an in
strument signed and sealed of itself pur.
ports consideration. These bonds read
that the credit of the State is pledged,
signed and sealed. But that was not the
question.
SENATOR DRAKE.
Mr.. Drake thought he had some special
right to speak on this question before
this body, for he had some agency in
procuring that 100000 acres Of land for
the State. In looking up some other
land matters he had the good fortune to
discover an old, apparently forgotten
law, emitting this State to that amount
of lands. He laid the matter before Gov.
Marshall, who at first did not believe the
lands could be obtained. He told the
Governor if he would give him a
letter Of authority to act in the
matter as agent for the State
he would obtain them. The Governor
gave him the letter and procured from
the Commissioner of the General Land
Of6c an acknowledgment Of the right of
the State, and the lands were selected.
He had never presented bill for his SER
vices though he supposed the State might
recognize that they were worth at least
travelling expenses. The matter had
been mentioned in messages of Governors,
but the representatives Of the people had
treated his claim about as badly as they
had treated those old railroad bonds.
Having that interest in this grant of
lands, he hoped it would be used for the
greatest good. 1t was intended to help
the State in its infancy-to provide
bridges, roads, etc. About
that time railroad building was at its fe-
YER heat. A struggle was commenced for
these lands, and the people were aroused
to a danger of these lands being squan.
dered on unworthy projects or deserted
to merely local enterprises, and the
amendment guarding them was adopted
probably wise provision, considering the
temper of the people and the uncertainty
Of legislation. But first there was an at.
tempt to turn them over to the holders of
the old railroad bonds, which failed from
the bondholders not accepting the condi-
tions.
The question now before US, as last
winter, was whether to place this grant
safely in the permanent school fund.-
If it was in his power he would
have the proceeds of these
lands distributed within the next ten
years with the current school fund. He
would like to vote for the resolution with
an amendment that the lands should 20
into the current school fund, not the per-
manent fund. He would have it applied
to the benefit Of the present generation.
which needs help in maintaining schools,
leaving the future and weather. genera
tons to take care of themselves.
AS the discussion had taken wider
range and this might be his last opportu-
nifty to speak his mind upon the question
Of those old railroad bonds. he would
ask the indulgence Of the Senate now.
Some of our people regard the bonds as
fraudulent, and would not pay cent !;
others believe in paying what is equitably
due, they being the judges of the equity ;
but others would pay, on the principle of
commercial honor, all that is due. Per-
sonally he had no interest in the bonds =;
he never saw one; and did not know per-
sonally holder Of them. But he was
early identified with the railroad interests
Of the State, and his experience had con-
stantly thrust what is called repudiat ton
upon his attention.
Too: much Of the argument of
the gentleman from Wlnona Berry,
turned up an '<if.'' lie would rather
hear it said, if we owe these bonds let us
pay every dollar Of them.
In reviewing the history of those bonds
he started with the land grant of Con-
gress, truly munifcent grant but wholly
unavailable for building. Money was re-
quired to build the railroads before the
lands had any market value. The roads
were then projected far in advance of
population; had they been built they
would have rotted away before needed.
It would have been better If the State