New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-28
MINNESOTA's REPUDIATEO BONDS.

THE GIVING OF TIE BONDS ID kAiLR iADS-A
PROMISE EOT FULFILLED BY RAILROAD MEN
RiPUUATION.
To the Editor Of The tribune.
SIR: | desire to make brief statement
about VIVA. Ia called the bad iath OF Minnesota. ] ask
yo to pint tis lcitar because see 81 many con;nu-
cations In your paper OF late that reflect severely on tie
eovc OF that state far not having seen proper TO rcccS
nize debt OF sone oOo0-noW with accumulated
interest over $4,O00,0O0 l judge that there
are only few persons here who are acquainted
with tie circumstance OF fraud practiced on
the State when these tords obtained.
TIE people OF tist young state wer. led u believe that
II tEey wnud vote IN fivor OF lending cert n railTond
coJn,,anies s. 0CO 900 in Stale bonds The companies
would in return build tIosc railroads Alter TIC qu's-
tou was ag.taed tle passed by popular
vote and soon afteIwari the bonds were gwen over To
the rlirold companies bat in return Tie State Gid not
get ono milo o; conret"d road 1t Is true there were
syeys made and some earth thrown ZIP. mostly across
Clt prairie districts, bal not a rail laid in the Whole
state. Coald BIZ expected thai tho people VINO 30 re-
Gently voted away their bonds would he in good hinorf
ut hayo not told ALL Wncn 1t intimatcd that the
pcople Tie State world not stand The outrage, the poor
scters and traders made to suffer These bonds
were made basis Tor barking purposes. Currency was
Issued oil them at the rate OF 10 cent Oh the dollar.
which WAS cIrcated tnou -hout the State, driving all
OTHER money away Tic farmer took tho money for has
grain tire merchant for bis goods but after short
existence tie BANKS after another slapped pay ~,
bui not until the people OF the State got al OF that Kind
OF money they wanted Now what may he expected after
such state Of tinss2 Two ali quarter millions 0!
the state bonds out railroads, and the people mroy-
orisLcd 10y thess currency Is 1t any wonder that,
believing themselves the victims Of misplaced conf iene",
thry shielded themselves behind Their sovereignty rs
State! There many Of the best peop!e IN Minnesota
mat 10 not THINK IL good policy ar Wise to have tat
provision placed in the Constitution Of The s!aie
pr,liiii.ng tie state from paying thls debt
Sey IN. attempts Il ttcUeHt have been made on me
par, o the state. Only year, ago the people VoeG
unfortunately the od,r not accepted The majority
OF the people Minnesota have 10 earn their hving ny
hard aior They poor but not dishonest Although
II Is tho opinion III majority 81 tue citllens Oh tie niio
tia, ration Of value was received III retHr i9r
these bonds yet Hil venture To assert thai the DAY :,
10. fa distant When they viii pay them rltiicr iln mat
any grounds should exist whereby dishonest noive
I;i:, y. rldtea to then. The farmers ~ Manesnta
ar re a class honest When they contract for the build
i:c II railroad, anything olsc, they Ike
10 get il before they have to pay fvr 1t.
n tie people of Ncw-York rich enough 10 pay in
erfst on bonds ssrcd Under Tweed Co. FOR wl,cl no
value ,sas e. thei simply fortunate ami ot
not to complain of Minnesota because she IL poor '!
acts intrcGtiy. claim that the people or minnesota
are oo hc less honest AID honorable because OF heir
actions regarding these bonds MisNEsoriAN
Eroo.iy, Aug. %, 1870.