Daily globe., 1879-02-04
THOSE BONDS.
Like Banquo's Ghost They VIII Not Down
--Selah Chamberlain's Annual Historical
Petition for Relief Presented to the State

one-half miles on the Minnesota Valley, now
the st. Paul Il Sioux City, and twenty miles on
the Southern railroad, all to the acceptance of
his excellency Hon. II. ii. Sibley, then Govern
or of said territory.
That he also constructed many bridges over
streams crossing the line of said grading, and
fully completed said road and bridges ready
for the superstructure; that most of said
grading and bridging, except in some few in
| stances where the line of the road has been
changed by the present companies, are now in
use by the present owners of said roads.
And your memorialist further shows that all he
| ever received for the labor and material so fur
nished by him was the bonds of the State of
Minnesota known as Minnesota State Railroad
Bonds;" that no part of the principal of said
bonds has ever been paid.
That your memoriaist received said bonds in
good faith, and that at the time he received
them they were secured by a mortgage which
the State held upon the valuable land grant of
said companies as we'll as upon the road-bea
and bridges SO constructed by your nemorialist
as aforesaid that after the failure of said COM
panies the State of Minnesota
FoREoLosED SAID MORTGAGE,
and took all of said property into it's hands;
and that your petitioner applied from time to
time to the executive and legislative authori-
ties of the State for relief while said property
WAS still in it's hands, and, at the request Of the
legislature, submitted various propositions for
the adjustment of his claims, but none were so
fortunate as to meet the approval of the legis-
lature; that in particular he urged upon the
legislature the justice of SO disposing of the
property in the hands of the State as to provide
fund for the payment of all just indebted
ness incurred in the grading of SAID railroads,
but was assured that the State Of Minnesota
had
NO INTENTION TO REPUDIATE
any just claims, but that the bonds were is
sued to secure the building of said roads, and
as soon as the object was accomplished provis-
ion would be made for the payment of her
bonds, but that to secure this object it would
be necessary to dispose of the property in the
hands OF the State as gratuity to capitalists who
wonld undertake to complete them; that your
memorialist believing that there would re-
main after providing for the indebtedness con.
traeted by the original companies in grading
their road-beds, amply sufficient property to
Induce the completion of the roads, continued
respectfully to demonstrate against this mode
of disposition, but his argument not prevail
ing, the legislature decided to make an abso-
would embark in said enterprise, and your me-
morialist was urgently solicited to contribute
to this object by
USING HIS INFLUENCE
with capitalists to secure the organization of
ineso road with the assurance that all that
the State desired was to secure the roads which
were the consideration for the bonds, and that
being accomplished, would make prompt pro-
vision for their payment.
Your memorialist did accordingly exert his
influence and secured the organization of a
company which proceeded tcshui:d and equip
and put in operation the Minneapolis & Cedar
Valley railroad, now known as the Iowa &
Minnesota division of the Milwaukee & St..
Paul road, road with which your memorialst
had never had any previous connection that
upon the completion of said railroad, your me-
morialist again applied to the legislature for
relief, but was met by the claim that the pres
ent companies having received as gratuity the
entire property which had been set apart as a
fund for meeting and providing for the claims
against the State arising out of said bonds
were
IN EQUITY BOUND FOR THEIR PAYMENT
to the extent at least of said fund; that desir-
ing to exhaust all just means of receiving in
demnity, your memorialist caused suits to be
instituted against said companies for the pur-
pose of enforcing such equities, if any there
were, and spared no pains, effort or expense to
secure favorable decision; that he secured the
services of the ablest counsel that the bar
OF the nation affords to present the case proper
ly to the supreme court of the United States;
that the case was fully and exhaustively ar
gued and carefully considered, and resulted in
a decision that the present com panies We're not
liable because the State Of Minnesota was the
principal debtor and was itself liable for their
payment. That after his failure to hold the
present companies he again made application
to the legislature for relief and was again re-
quested to make q proposition for adjustment,
which he accordingly did; that though it APP
pears to your memorialist that he has exhaust
ed every suggestion which the State authorities
have made and has always endeavored in every
possible manner to meet their wishes. he has
not been SO fortunate as to
SECURE FAVORABLE CONSIDERATION;
that believing it is the sincere desire of the
legislature and of the people of Minnesota to
arrive at just and equitable adjustment of
these matters. and that there is no disposition
to deal unjustly by the public creditors, ad-
vanclng age, and the lnhrmities attendant there
on, admonish your memorialist that il in his
lifetime the large expenditures which in the
prime OF his years, almost generation ago, he
was induced to contribute to the development
of the great resources Of this vigorous and
prosperous commonwealth are to be to any ex-
tent reimbursed, relief must come speedily;
and your memorialist is persuaded that the
members of your honorable body, coming fresh
from your constituents, are far better acu laint-
ed with the views and wishes of the people
than he can be, and will be much more likely
to frame
SCHEME OF ADJU sTMENT,
which, while administering some measure of
justice to the public creditors, will so adjust
the scale of payment, as to promote the honors
and dignity Of the State and bear but lightly
upon the taxpayers.
Without presuming to dictate as to method,
your petitioner may, perhaps, be permitted to
suggest that the result of the last two schemes
which were submitted to the people for their
approval in 1877 and 1873 has convinced him.
not that the people of your State are unwilling
to make provision for any just adjustment of
their liabilities (although such seems to have
been the inference drawn from them by the
press and the public abroad, but either that
the people of the State having been for many
years led to believe by the representations Of
a portion of the newspapers of the State and
the occasional attitude of conventions that
these bonds
ORIGINATED IN FRAUD
and ought not to be paid, until among the
mass of the population who have settled in the
State since the bonds were issued, vague tradi-
tions of this character have. as your petitioner
is informed, very generally prevailed, naturally
looked upon every proposition tending to a
settlement of these Yexed questions with sus.
picion, and that thorough discussion of any
plan that shall be submitted to them by gen
tleuen of character and influence in different
sec. of the State, in whom the people would
have confidence, and who having no interest