Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1877-03-21
The Everlasting Bond Question.

compelled to flee from the wrath Of their
present devoted dupes, such expected graft
| fcation loses much Of its pungency when
we consider the immense cost that must be
inevitably connected with their downfall.
Cannot these men be made to comprehend
| that to pay the whole debt will rob us of
our homes and whatever other ccumula-
tons we may have been able to make, and
yet through some unaccou ntable in
fatuaton they seem determined to leave no
stone unturned to bring about that very re-
suit, Is officeholding so sweet that they
are willing to utterly ruin our goodly city
for the purpose of gratifying their private
ambition? Are these men in condition
are their worldly affairs in such shape, that
they can skedaddle to other parts at a mo-
ment's notice, or meet their fate at the
lamp post? When the courts shall have or
dered the payment Of judgments, and shall
have conhscated our property to secure such
payment, then the time will have arrived
when the architects of our misfortune will
call upon the mountains to fall upon them,
or the sea to hide them from the face of
men. That our destruction is inevitable,
unless the number of desperate demagogues
are brought to speedy halt. must be pa
tent to every thinking mind. The attemp-
ted legislation this winter, repudiating the
Oh hnp 10 n.Fi
ton in not deVising some manner of lqui-
dating the debt, will sooner or later drive
the courts into furnishing an efficacious
means for the collection Of the whole
amount. Has not every cours decided that
we owe the debt and given Judgment against
us in every instance, and has not the Su-
preme Court of the United States said that
the plea that to pay the whole debt would
take away all we have, is vicious?-that is
to say, that the court cares not, or cannot
care, whether the payment of the bonds
would leave US penniless or not; that we
owe the debt and must pay. It appears
| that a few dcsperadoes are now even advo-
| eating the abandonment our last source Of
| protection Though immune rable judg-
ments are standing against us, their collec-
| ton as been frustrated thus far through
certain laws enacted for our special benefit,
and by a judicous taking advantage Of
| those laws on the part OF our authorities.
| 1t seems, however, that we are to be de-
| prved of this protection thus far available.
| by al attempt to defy the authority of the
courts, in other words that we are to have
fall council and provoke our own des-
! truction 1t is to be hoped that the report
| is not true. But what would be the result
| in case the experiment is tried? Briefly
| this:-Innumerable mandamuses would be
| Immediately served, ord eri ng the Council
to levy taxes to pay Judgments. Of course
| it would refuse to do so. The next step
would be to ARE est the Board of Aldermen
for contempt of court, take them before the
Judge and have them fined; refusing to pay
the fine they would be imprisoned until the
fine be paid having paid their fine they
would be released only on promise that they
would 60 home and levy the tax as per or
der of the court. Some Aldermen NAV be
| found who would sooner rot in Jail than to
levy the tax, others again who have not
much to loose anyway would be more will
| ling to do so, while in some cases it might
|
of the bondholder to distribute few thous-
and dollars to induce others to vote for levy
| ing the tax. We can now sum up the ex-
pertinent about as follows: To be paid
the fines Of the Aldermen, several thousand
dollars for lawyers fees and the debt in fall !!
| Taxpayers, how do you like the prospect?
| But some will say that they will not pay
the tax, and that their property cannot be
sold because the Supreme Court has deci-
| ded that private property cannot be taken
to pay q public debt. The court did decide
| that they have not power to seize the prop
erty of John Doe or Richard Roe aud sell
it to pay judgments on bonds, but the de-
cison also stated that the remedy of the
bondholders lies in the mandamus directed
to the City Council to levy q tax for the
purpose. No man should be so foolish as
to believe that tax to pay judgments hav-
ing been regularly levied, his property will
not be sold the same as for failure to pay
other taxes. If there are any such individ-
uals in the community they had better
abandon the peruicious halucination. There
| is not the least doubt but what our people
are unanimous in the desire to av old pay
ing the debt, Or even one dollar OF it, and
the only difficulty in the way seems to be,
a difference of opinion as to whether it can
be done. One class headed by few dema-
goguical office-hunters, under advice OF
others seeking pecuniary bentft, are ready
to resort TO desperate measures to defeat
the bondholders, while the more sagacious
men and heavy property holders are de-.
srou OF getting out of the difficulties as
easy and cheap as possible. As previously
remarked, there is no doubt that the time
will come, and that not very long hence,
that the M en- who now have full sway over
the thought masses, will be compelled
to fly for their lives, but while such no