The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1876-03-22
NEUTRALITY-SUSPICIOUS..

The movement among our citizens to
carry the question of The legality OF the
railroad bonds of Cairo and Alexander
county into the courts l. creating some
discussion. and im, given rise to the I
charge that we are proposing TO rcpudi-
ate our public debt, This does Us great |
injustice. rs every one who will take the |
trouble to understand the matter will adj |
nit
by the act of lSio, entitled "an act to |
fund the railroad debts of counties, town.
ships. cities and towns" the people OF
Illinois said TO the people of each county. |
township, city and town in the State :
"lf you will create u debt under the pro-
visions ofany law Of this state, to aid in
'thc construction OF any railway or rail-
ways that shall he completed in ten yeats
from and after The passage OF this act,
whose line shall run near to, into or
through your county, township, city or
town, the State treasurer shall place to
your credit to pay the debt all the state
taxes collected and paid into the State
treasury on the increased valuation of
the taxable property of your county,
township, city or town. as shown oil tho
annual assessment rolls, over and above
the amount of the assessment roll of the
year lSGS."
Many COUNTIES. townships, cities and
towns, believing the pledge made To
them by the people of the State to be a.
good as gold, were induced thereby to
incur railroad indebtedness. They be-
licved that, under this law, the burden
would be not fclt--that, in truth. the in
vcstmcnt Of their credit in new railroads
would give them not only the railroads,
but return 10 them reasonable profit
But the supreme court of the State, in
Ramsey RS. llWger, abiogated so much OF
this act a provides that the State tax on
the increased valuation over 1865, and
OH the property of railroads aided. should
be placed to the credit OF the local ald
bonds and applied by the State treasurer
in the payment of said bonds. This de-
cision left the burden of debt upon the
counties. &C., and took from them the
consideration upon which the. debts had
been incurred ; but the decision docs not
affect the validity of the bonds, the right
10 register them, nor the levy and collcc-
ton OF the interest on registered bonds
by State authority.
That. in this matter, great wrong has
been done to our people. and to all the
other cOuntic. that were induced
by the act OF lsG9 to incur
railroad Indebtedness, no one will
deny; but this tact does not make
even probable the success of an action in
court to defeat the bonds on the ground. a.
the Cairo resolutions express il, that
the ''said railroad debt was made under
promises by the legislature that were
never fulfilled" II is not good reason
to refuse 10 pay our creditors that we
became their debtors on a promise o,
our State to do a certain thing for our ben.
eft, which certain thing the State has re-
fused to do. We owe because we have prom
i,ed to- pay. Ou people may defeat the rail-
road bonds, but they cannot do so Oh the
ground that the people Of the State OF
Illinois made a contract with the people
of Cairo and Alexander county, and then,
| by a decision of the State su.
| prcmc court. were enabled TO re-
pudiate their contract with the people OF
Cairo and Alexander county and did re.
pudiate it.
We have right Of action against thu
people Of the State, but have not therefore
a right TO defeat our creditors. We may
and we ought to, demand of the people o
the State Of Illinois, who have ,hamefully
treated us-who induced us by lyin.
promises to 90 into debt-who hav,
actually made Us bankrupt by repudl
ating contract made with us
ought to demand of the people Of Illinoi
that they assume these debts They vii
not, we are confident, refuse to do so.
During the time the law was in force
before the supreme court took out OF j
the kernel-many attempts were made (,
repeal it. These attempts were Away
defeated by "A large majority. This lac
is proof that majority of the people o
the State are anxious that the State shall
make good the promise that was made I,
the counties, townships. cities and town
by the act of 1850, and what the majorit,
OF the people wish to have done they ma,
! have done. And in this fact we see rca
son to believe we may obtain relief from
the unjust burden Of our railroad taxes
The General Assembly may, we believe
| take up these local debts aud put then
into state bonds, and this it should do. 1t
promise induced communities to 90 int
, debt. and ii is in honor bound to take thcs
I debts OIL the communtic. with whic
n it has been prevented from dealing iairl
/ from standing by its contract TIL
courts, we fear, can give to Il, no relief
I the General Assembly can, and will
. we send up 10 it men who know wha
ought TO be done, know how to do ii an,
will do it.
OS.KCVUTRIIlA