The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-05-17

seven ulllllullS VI uUlidLo. LItiil w
which they will generously throw off.
if the State will enter into neac obliga-
tions to pay the other half Mark it
They want new obligations, ,as they are
distrustful of the old ones.
When the great State OF New ork |
had expended seven and one-half mil
lions of dollars on works of internal
iimproyement,-she had about 400
miles of magnificent canal. uniting
the Great Lakes with the Ocean-With
one hundred costly locks-and splen-
did stone aqueducts. spanning wide
rivers,-and yielding princely rev.
enue to the State; while it was great
blessing to the people not only OF the
Empire State, but of many States of
the great West. The people OF that
state were not under the necessity Of
appealing to the courts to define their
rights as to the regulation of frelghts
and fares.
But an appeal is made to our sense
of honor. Who makes this appeal !!
Men honest themselves Men who
have tampered with the public presss
Men who have tampered with
latures? Men who have deceived the
people? Let those who are without
sin cast the first stone. But it is said
the present holders of the bonds are
innocent purchasers. Let us see
Here is Selah Chamberlain, the largest
holder Is be an innocent purchaser
Who guaranteed that the Treasury OF
Minnesota shonld be exonerated from
any advances for interestor principal!
Was it not Selah Chamberlain Who
knew better than he what a bond was
worth than Mr.. Chamberlain Who
knew better what the bonds were
worth than the laborers on the rail
road many of whom could not get
their pay because the companieseould
not sell their bonds! Who knew bet
ter than the farmers along the lines OF
roads that could not get pay for pro-
visions furnished, because the bonds
would not sell! Who knew better
than the holders of Glencoe and other
Wild Cat money, based on these bonds.
when they trucked it off to mer-
chants for goods at Is to 20 cents on
the dollari Innocent purchasers. in
decd Was not committee raised
by the Legislature of 1866-to enquire
of the holders what the bonds cost
them. and did not most of the holders
acknowledge that they paid from Is
to Is and 30 cents on the dollari And
did not competent engineers go out
and estimate Mr.. Chamberlain W:sfk
and report that it was not worth over
33 per cent. Of his claimed expendi-
turea Everybody knew them to be
doubtful-at a monstrous discount.
Nobody was gulled in the purchase,
but big attempt is being made to
gull the people Of the State in paying
for them. The people of Minnesota
are not dishonest. These bonds would
have been paid long ago;-could have
, been paid when legal tenders were
, worth only 80 cents on the dollar, had
the people believed them to hayebeen
! honest, and strong claim against the
| State But they did not so consider
them. Hear Gov. Ramsey in his
message of 1860. ssMuch the greater
portion of the bonds are in the posses
sion of the r. r. companies. or their
immediate representatives; the con.
tractors, for grading, reteived $4,000
skper mile. an amount admitted to much
p exceed it's actual cost. while the small
er portion of the bonds were received
by the present holders. with few ex
ceptions, greatly below par value, as
gratuities for doubtful services, lib
eral salaries. or in exchange for de
preciated currencyIbought up at heavy
discount"
In my next propose to speak Of the
10000 acres of land and other mat
/ ters pertaining to this subject.
EBENEzER AYREs.
Cottage Grore, April 80. 1877,
COMMENTS BY THE EDITOR.
We do not differ at all from Mr.,
J Ayres in his views as to the foolish
not to say fraudulent character of the
. original bond scheme. We voted
against it and should do so again un.
der similar circumstances. But that
, is not the question now. The people
by an overwhelming majority adopted
!, the scheme; and the bonds are out
9 standing. How shall we get clear Of
4 theml That is the question.
: Mr.. Ayres speaks of 1.-The assnmp
tion on the part of the State of a deb
of three millions and half as ifthi.
/ were an attempt to create. de moro, /
e debt of that size; while. in truth. i
is an attempt to scale a debt of sere5
; millions. already existing. II we vot,
!. up the proposed settlement we reduce
d the debt one-half If we vote it dow
I the whole sum still stares us in tn,
! face.
I We think Mr.. Ayres states the cas-,
a too strongly against the bondhoIder
a when he says that the State receive,
. nothing in exchange for these bonds
:, mot a raiI-T1Dt . tie-not bridge
i mot an embankment." The State re