Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1878-01-05
TROUBLE ABOUT BONDS.
What Other Countic. are Doin,

are NDovnR
During the period OF radical rule
f tins state many counties, especially
the western part. were literally NOR
gagged for all time to come to easter
capitalists through the MANIFESTATIONS
bogus railroad companies. Count
courts issued bonds; townships issue
h"nds; parts Cor strips) OF TOWNSHIP
issued bonds; towns. cities and village
issued bonds. They were issued with
prodisality that is astonishing at thi
day. 1t seemed to be The principal OF
.iect OF radical rule to line radio,
pockets with ~greenbacks and gold at til
sacrifice OF the brain and muscle NJ
only OF the present generation, but ,
untold succeeding generations. Scarcel
Il solitary subdivision. even. vt couptie
O"t what became burdened with debl
some OF them voluntarily entered int
the maelstrom. with Il sort OF iniatuatio
DeSotten of the recklessness of tn
times. hu most of them were involve
IN the engnIpiling vortex because tn
people c0Hid not cote aud had q,
Po"et' 10 resist.
Alter awhile the people came to thei
own again, but by this time every couu
" was carpeted with mortgages, in tn,
shape OF bonds, u foot deep. Thes,
bonds have begun to tall due. The d,,
OF Judgment has come. This sets tn,
people to thinking, and when they com
ihence thinking they commence talking
an" Wien they commence talking the,
commence acting and the result ot 1hi!
ac'!iiS IS What roubles the souls of tn,
pondholders. Here and there Il count,
hnds that it has been paving enormous
interest tor ten or twelve wears on y
debt for which there never has been ,
consideration. Their bonds. uoieuy
rolenS. were issued. hawked about th.
money marts of New York, sold for \
song, and still they have no railroads
nothing, in fact. of substantial sort,
To show what these precious legacies
were ever issued tor. The essential
OF consideration seems to have
oeeh entirely ignored. So, here and
tiere 4 county refuses longer to pav,
II the bondholders sue. and with fed
eral courts constituted for Just such
emergencies. obtain judgments. But
Judgments are not gold or greenbacks
ana these ~bondholders. who have already
beed paid in interest twice the amount
shey paid Tor the bonds. propose COM
promises, and these compromises of
course assume the inevitable shape OF
!undlng honds-these sagacious blood
suckers concelving that funding bonds.
by tnelr conversion and constitution.
make legal what was Illegal and uniu,,
before.
But when the b~Ondholders are A little
100 itpacions the peop.e talk of resisting.
We mentioned that when they began
aikinS the next consequence was acting:
ana tney are acting i'll some localities.
Let us giancc at Il few instances that
lust now come under our observation:
In ii. CIair county the citizens have
cut the Gordian knot BY forcibIy carry
ing of and destroying the tax books.
hey also demanded the resignation of
me hoidhoIders county court and &C.
the demand with such decla-
atoms that the Judges very wisely com
ofled. Ana, we are informed, that So
completely united and harmonious are
nc people IN their determination to re-
isl the enforcement OF the tax lew it IS
impossible to get any respectable |
men III the county To accept the vacant
,!aceS and enforce the unjust DEGREES OF
he onndliolders' courts. The 81. Louis
republican, always in the interests of
bondholders. commenting on the
ltlatlon in St. Clair county. fears that
county administration will fall into
disorder. because the demand is made
the county court shall administer
he affairs OF the county in accordance
nth the wishes Of the people" Well,
appears that the people OF St. CLAIR
have determined to endure the
.mporary confusion rather than be al
icted with Il court that does not carry
Ut their wishes. II is their own affair
nd they seem to be managing it pretty
necessarily Tor themselves and pretty
tor the b~ondholders.
Henry county has 4 railroad debt of
soo . and Judgment has been obtain
q on the bonds. 1t appears that the
cope are not very anxious to compro-
use anu there Is some very plain talk
tie following extract from Il Henry
unity correspondence OF the ST. Louis
me masses are stubborn, and the
'urt Is resolute and determined A
'mpromise may be effected. but the
will have to take the initia-
nv. They wi! find That any PROPOSE
on they may make will receive RESPECT q,
! hearing and "a fair consideration. -,
Ilr people want the matter settled. and I
oppose 10 pay promptly every cent they I
gree TO IN that settlement. but they also ,
I" have considerable 10 saw in 5
'c matter. A large portion OF the debt |
created through bribery and fraud. ,
III any number OF decisions bv the su- /,
'eine court will not change their opiu-
as 10 their neral obligations and the Z,
stlce OF the clam. II innocent Dur. =
.asers hold the bonds. they claim that I
cy are n" less innocent sufferers
'ain say The people have not promised I
or any other mount. or indi-
tea any action IN he near future. 3
he ~bondholders claim to be on the q
inning side-let them go forward" i
lafayette county compromised her t
ltroad debt with part of the bondholi- ii
but a portion have refused the s.
mpr"mlse, and. in obedience 20 \
iniamus, Il special tax has been levied a
pay these judgments. "A
! he !nteillgcncer. like the Landmark. n
!!antly lighting the battles Of the neg. n
says INA the payment of this tax I
'uId oe 4 virtual back-down from the \
npromise offered by the county and II
w more than halt consummated. and a,
our people to see that the Ii
usai to pay Is an unanimous one" r
III 4 previous editorial uses this sir- h,
language. ri
but we Lave this to add, which hold a,
OF the bonds bad better corsider-if m
e"plc of this county are harassed a,
zen more about the residue of these A
IDS. by contumacious b%ondholders 90
% refuse 10 accept the compromise OF in
mary, 1876, and who thereby release M
county from its obligation to item. as
Y Will meet and instruct the county
lrt to complete the compromise at a
.nced rate of principal and interest. NJ
know the temper OF the people on ",
question. and while we should dis. "
to see 1t %rc-opened we warn the to-
that they are playing with la,
. O.,
he citizens of Washington township fri
hat county held 4 mce.inr, and alter
the matter, Unanimously
sed the following ringing resolution: Of
resolved. further. That we. the clti- be-
; .. Washington township, pledge 81
to stand by one another in re- an
ing the collection OF any township
DIS or interest thereon or am couH- sol
or interest thereon not COM pc
ut ms date upon lrhich Snits DO
1..a I.T, IN