The anti-monopolist., 1877-05-31

and bond-holders candidates for office.
The lands will not be 'ssquandered
if they remain 'sin the hands Of the
people, where they now are. They
cannot be ssgobbled'' up, because a
ring cannot be formed large enough to,
embrace the suhole State and command
majority vote at a general election.
Finally, you ask chow I.would set
tile the Bond Question:" Certainly.
this inquiry is pertinent, candid and
kind--and l feel it a duty to answer
it in the same spirit. In, justice to
my oacae feelings l must say, that per-
sonally l feel under nolegal nor moral
obligation to pay anything-as was
one of those who fought the Loan
Amendment from it's inception on
ward--used all the civil means in my
power to protect my homestead and
few acres of improvement from the
greedy jaws Of spectators, denied the
right morally or legally ofany set of
men to take my property, for the pub
lie good without Ompensation-mllch
more to take it to bestow on gratui-
tOusly private parties, also without
cOmpensatiOn--and declared, at that
time, that l never would pay one cent
AfAprincipdt OF interest, on account OF
TIE Old r.. r. Bonds, until my prop
ely was taken from me by the ex-
t18me force Of the law. But now, as
az matter of public policy, would
suggest that the present proposition
be voted down, that the next Legisla-
ture propose the calling of a State
|
each Representative district. said
proposition to be submitted plainly to
the people at the next general elec-
tion, and if ratified by a majority of
votes-then let such convention be
chosen, and when assembled receive
propositions from bond-holders. Then
let whatever terms agreed upon pass
by twO-thirdS vOte-tO be submitted
at the next general election to be rat
ified by majority vote of all the
votes in the State. Now, you may
think me over cautious and eXacting.
But l think I only exercise proper
prudence. The tendency of things is
to cheat the people--tO take advan-
tage of their ignorance or Indifference
or over-confdence--or to bribe their
representatives. The history of the
attempts of the bond-hOlders to obtain
pay for their bonds has been dis
| honorable record. 1t is my opinion,
that whenever honest, just and equit-
able propositions are made to the
wealth-producing nasseeo of Minnesota,
that a kindred psn6Bwill come back
from h2<d-wUfking and honest peO-
pie. Sincerely Yours,
| EBENEzER AYRES.
Cottage Grore, May %, 1877.
COMMENTS.
| Our friend Ayres seems to forget
that the Supreme Court of the United
States has decided that the action of
the people in "expunging" that
amendment to the constitution and
refusing to pay the interest, was in
violation of the constitution of the
United States, inasmuch as it impair
ed the obligation of a contract already
existing between the state and the
holders of the bonds. However much
we may demur to this decision we are
compelled to submit to it as the su-
preme law of the land. Hence the
bOndholders are entitled to interest
on the whole amount of the bonds and
would collect it if the state could be
sued like an individual.
We thoroughly agree with Mr..
| Ayres that the whole question is
a0hdt a0ould be an equitable settLememt7
n,,r fc a
one-fOurth or one-third would be more
nearly right than one half; but the
bondholders will not take the former
figures and we believe they will take
the latter, and we are willing to con-
cede that amount to them believing
that if we s'go farther we will fare
, worse," and that some subsequent
! Legislature will settle il on worse
! terms for the state. We do not be-
lieve that Mr.. Ayers, or any other
t man. can organize an Anti Bond Party
I and maintain it in power for a single
year. The success Of the Anti-MO-
= nopoly party, organized to resist the
= most gigantic expressions, is not en-
couraging. The people are like the
HindOo Brahma,-asleep the greater
{ part of the time.
II the vote on the 18th of June is in
5 favor of the pending proposition we
' trust the next Legislature cwin make
ample provisions AUe enao, ,gD AMmi-
e grafton and De lNttie&e1e of the
!, 500, 900 acres Fofa ld. 4ksChese. are
+ sold at 50. .oOx -, on thirty year.
: time at 7 per cent binterest, the in
e terest on the lsnds you'd pay the IN
b terest on the bonds, while the princi-
pal sum att maturity would pay the
J. bonds themselves. Every effort
e should therefore be made to sell the
t lands as speedily as possible. Thii
would solve the whole question. And
. this shows how important it Is thai
!; the landa should be reserved for thil
= | mr. rx~rco -