The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1877-06-06

The Minnesota State. Il railroad
..atea V ..4 Bonds, g

taxpayers OF said county,who have
not now, and have never had any
personal interest in the bonds Of this
State known as the 1State Railroad:
Bonds" ask your attention. for moe
n,enti while they give briefly a few Of
the many reasons which. to them
seem unanswerable why the plan for
the adjustment and settlement Of
this yexed bond question presented
to the people Of the State for adop-
ton or rejection by them, on the
18th Of Junenext, should be adopted.
~. I. AT home and abroad, the opin-
ion lin which we concur,) among
jurists, lawyers and business men is
well nigh universal, that the State is
legally liable for the amount Of these
bonds with the accumulated interest.
q. Giving full force and effect to
all the equitable facts and circum-
stances that those who are opposed
to this plan Of adjustment urge
against it, we cannot but regard the
terms offered, viz: the acceptance
oflong time six per cent. bonds, for
fifty per cent. of the amount, princi-
pal and interest of the old bonds in
full thereof, are terms at least fair
and reasonable and just.
3. That the State and the people
of the State have seriously suffered
in their financial and business credit
by the practical Reputation of these
bonds. The State, the counties, cit
les, towns and school districts of the
State, that have issued their bonds,
and the people of the State as indi-
viduals, are now paying annually an
amount Of interest startlingly large
in the aggregate in excess OF what
would be thas paid for the same
amounts of money but for this stain
and faint Of Reputation. AS time
progresses the unfavorable results of
such action if continued will be more
and more plainly marked. 49,: ..a1.
49, A.. This plan Of settlement, if
adopted, appropriates and secures,
as afund to. the payment of these
new bonds, the entire proceeds of
the 100000 acres Of Internal I'm
provement Lands, which will sub
stantially save the people from tax
alton for their payment:
s. Should the terms now offered
be rejected it is morally certain
1st. That successful combina-
tons will soon be formed for the
disposition of those lands for such
purposes as will practically deprive
the State and the people of all SUBJ
stantial benefits therefrom ; and
ed. That this negative vote Of
the people will destroy forever all
hope of any offers on the part of the
holders Of these bonds for their
an,icable compromise and settle.
nent !; and finally that the day must
and will come when an intelligent
and honest public sentiment will &C
quire such power as to, compel the
State to take up the burden and pro-
vide for the. payment OF the entire
debt, and that BY. taxation alone,
1t is impossible, In in the nature Of
things that at this day State like
Minnesota can long occupy, her, pres
ent position upon this grave" ques-.
ton. = = ~ .: - y. :. :. ''.,.' S''
Differing as we do in nationality,
insmatters ofreligious faith, in polit-
ical associations, in business and
business relations, we unite for the
good name and credit of the State
OF our adoption, and in the preser-
walton of our individual faith and.
honor in asking you e toaai I'D In
rolling up in this, our noble county
of Goodhue, majority upon this
proposition In favor Of honor and