The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1877-05-31


if they remain ssin the hands of, the
people, where they now are. They
cannot be ssgobbled'' up, because q
ring cannot be formed large enough. to,
embrace the mboL State and command
a majority vote at a general election.
Finally, you ask show I,would set
tile the Bond Question:" Certainly,
this inquiry is pertinent, candid and
kind-and | feel it a duty to answer
1T in the same spirit. In. justice to
my oacn feelings must,say, that per-
sOnally / feel under no legal nor moral
obligation to pay anything-as /. was
one Of those who fought the Loan
Amendment from it's inception onr-
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 'ofeany set Of
men to take my property, for the pub
lie good without compensation-mlch
more to take it to bestOw on gratui-
tously private parties, also without
cOmpensatiOn-and declared, at that
time, that never would pay one cent
JAprincip0I or interest, on account of
Old r.. r. Bonds, until my prop
e y was taken from me by the ex-
t me force of the law. But now, as
all matter of public policy, L would
suggest that the present proposition
be voted down, that the next Legisla-
ture propose the calling of State
COnvention-Of one member from
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 a majority vote Of all the
votes in the State. Now, you may
think me over cautious and exacting.
But think only exercise proper
prudence. The tendency of things is
to cheat the people-to take advan-
tage of their ignorance or Indifference
or ver-confidence--Or to bribe their
representatives The history of the
attempts of the bond-hOlders to obtain
pay for their bonds has been a dis
honorable record. It is my opinion,
that whenever, honest, just and equit-
able propositions are made to the
wealth-produ cling nlss<t tof Minnesota,
that a kindfed peQ Will come back
from h1 dswOlkl6g and honest peo-
pie. Sincerely Yours,
EBENEzER AYREs.
Cottage Gr0re, 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 @1expunging" 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 obligationof 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 SUI
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,-
s0ltdt aOoxld be an equitable settlemesst7
Our own opinion was, and IS, that
one-fourth or One-third would be moro
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 williag to con-
cede that amount to them believing
that if we Ego 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
man, can organize an Anti Bond Party
and maintain it in power for q single
year. The success OF the Anti-M0-
nop0ly party, organized to resist the
most gigantic expressions, is not en-
cOuraging. The people are like the
HindO0 Brahma, asleep the greater
part OF the time.
Il II the vote on the 18th Of June il In
favor Of the pending proposition we
TRUST the next LogishtmRc win make
lample provisions AU enao} Ammi-
soo, 10000 900 acres sa ID. sSsse. e are are
sold at 80. .QO< -, On thirtykyearl
. time at, 7pef cent Dinterest, the in
terest on the l,nds you'd pay the II.
terest on nt1es bonds, while the princi-
pal sum III maturity would pay the
. bonds themselves. Every effort
should therefore ba made 70 sell the
! lands a. speedily a. possible. Thil
WOud solve the whole question. And
this shows how important II i thai
!: the land3 should b reserved for thll