The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-05-10
THE OLD BONDS.

They exist. They stare us in the
face, with the blistering legend:-l
''the faith and credit Of the State of
Minnesota are pledged to the pay
ment of the principal and interest of
this bond.'' They assail us in the
market places; they denounce us
through the press; they preach at us
from the pulpit. How can we make
this Banquo's ghost s'doWn?''
True they were a swindle; we gave
them expecting railroads and we re-
ceived earth works; we believed
somebody else would pay them, and
they have been, for twenty years
thrust in our face for payment. Can
we step to the bar of public opinion
and cry ut,-''We made asses of our
selves, oh judge we entered into
bad bargain with our eyes open; we,
a sovereign and intelligent people,
were fooled by few knaves; and now
we plead the baby act and our ASST
nine condition as an excuse for not
carrying out our contract What
will the world say?
But, says some one, the bonds were
issued under an amendment to the
constitution while we were State
out Of the Union; the obligation was
only loan of credit; the companies
did not do as they agreed, ETC., etc.
Granted that all these things are
true,-what then! Will you appoint
a perpetual commissioner to constant
ly explain all this to the whole world;
and to answer every newspaper at
tack on the fair fame of the State
And, when your commissioner has
said all he can say, will not the bills.
J tering legend still remain: 'sthe faith
and credit of the State of Minnesota
are pledged to the payment Of the
principal and interest of this bond
How can he explain that away? How
can he explain away the great seal OF
the State. with the Indian riding into
the setting sun,-probably to escape
paying his share of the debt!
But, says our correspondent from
Fillmore county, let the $780, 900 acres
of internal improvementland be turn
ed over to the school fund. That able
and honest man, Hon. William
Meighen, has tried to accomplish that
for years. He has never succeeded
and he never will. If the lands are
not used to pay this old debt they viii
be gobbled by some railroad combi
nation. Even now the pending prop
osition, for the settlement of thu
bonds, is being opposed by some par
. ties because they want to give then
2 away for railroads. Remember tina
: if it had not been for Governor Aus
: tins veto we would not have the lant
to-day to apply in payment of tn,
! debt. Remember also that the PEG
: pie have already once voted that thu
lands should be used topay the bonds
But, says another, it is swindle
: Granted again; and yet it will not b.
: denied that the men who took thos'
bonds invested some money in thi
State,sUme say it was one-fourth tn
: face Of the bonds; some say one
third; some one-half, some three
. fourths. But it was something
!. Where is it now! The State took it
What for! To indemnify itself TO
. it's liability on the bonds. Can it no,
: say it owes nothing on The bonds
I Can it pocket the collae1fal and n
: fuse to pay the debt
il The State says the bonds are
!! swindle; the bond-holders say the
/ are not. Here is an issue. Who
e to decide it Not the courts for til
. State cannot be sued; and if it weI