The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1877-05-24
The Old Bonds.

pie will be called upon to give expires,
sion to their willingness, or unwilling
ness, to make compromise settlement
Of the "Old Minnesota State Railroad
Bonds" When the act, providing
for the vote on the subject, was passed
We expressed our satisfaction with
it, and, after giving it as careful con-
sideratiom as our opportunities afford
ed aud reading a great deal on both
sides We are strengthened in our belief
that the interests Of the State,
our individual interests and
common honesty demand an ac-
ceptance of fhis offer to settle 1t is
foreign to this purpose Of the the pres
ient article to rehearse the history OF
the bonds or to discuss the merits OF
every step taken from their inception
to the present time. As a practical
question, now confronting the people
of the State, it stands thus: State
bonds in the amount Of 2,275 900, in
creased by accumulated interest to sew
en- millions, legally signed, sealed and
delivered, are outstanding. They
were issued in pursuance Of a vote OF
the people, directing it BY an over
whelming majority. The Supreme
Court of the United States has declar
ed that "The bonds issued are legal
obligations; the State is bound by cv
cry consideration Of honor and good
faith to pay them"
A proposition is now made to settle
for less than half the amount due, &C
cepting new six per cent bonds run
ming thirty years, in payment, the IN
terest for the first two years to bs
provided for out Of the new bonds
Shall we accept? It is a business
proposition. pure and simple The
diversity Of opinion, that prevails rel.
alive to our moral obligations to pa,
will not avail. Outside Of Minnesota
there is no division Of sentiment in re
gard to the matter. We are now il
the category Of repudiating State
with only Mississippi below us and an.
proceedings to enforce payment Of tn
bonds would have the moral support o
an approving public opinion in ever.
other state. We are fully conviuce'
that, sooner or latter, the bonds vii
iu whole or part, be paid. We b.
l,eve that the Legislature can max
provision for their payment without sub
mitting the matter to the people an
regardless Of any opposing efforts the
might or could make. It will rcquir
. very small portion Of the differenc
between tho amount on which tn
present settlement is based and tn
amount Of the bonds At their maturit
to, induce any Legislature that will eve
make laws for Minnesota to place ths
matter 10 just the shape that the bono
holders may wish We would rathe
give q promise to pay s3,5OO,O 900 i
thirty years than pay $1O,OOO,c00 fiv
or six years hence, consequently Y
favor the present proposition for . set
Element.
Francis Murphey, leader Of the blu
ribben Temperance movement which
fimilar in many respects to the re
ribbon movement, thus promulgat,
his creed: 81 make no TRADE again
liquor stores there are some good me
in the business, but they cannot
driven out By abuse. The only tr,
method Of total abstinence 10 to prev.
upon men to stop drinking, aud th,
the other men viii stop selling. The
can be no reduction in the sale Of i
toxicating drink 90 long as zen co
tinue to use it. Therefore my idea
10 persuade men TO abstain, for y
have no stronger sentiment in the COL
munity than that in the real life Of Z
people. You may legislate and leg
late about the closeing Of saloons, b
you do not reach the heart Of the pc
pie. You must prevail upon . man
stop drinking and turn his attenti
70 his home, and instead Of spendi