Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-02-27
THE OLD RAILROAD BONDS.

To the Editor of the Globe.
The Importance Of this subject, involving
claim of six millions of dollars upon the
State, and either rightfully or wrongfully
seriously affecting the credit and good name
of the State; the fact that the longer the
claim stands and the richer the State grows,
tho greater will be the outside pressure TO,
the payment Of the bonds in full, and the
fact that it is possible now to settle the
whole debt upon compromise basis, without
dollar of taxation, are sufficient reasons
for Offering few thoughts upon the subject,
with view of exciting little more interest
in the subject and, if possible, facilitating a
settlement. 1t is proper to premise the sug-
gestlons offered, by stating that have not
been among that class of snper- honest and
honorable gentlemen who have in recent
years clamored vociferously for the payment
of dollar for dollar of the bonds and stigma
tized the State as a repudiating State and
all who differed with them as rascals; have
not been in any ring or syndicate
| calculated to warm my ssmpathies for
| ''widows and orphans or develop keener
sense of "honor" in me than my friends
| had hitherto supposed me to possess lying
dormant and undeveloped in my veins,
only waiting for "qulckened Conscience
| to throw it out upon the surface. But did
belong to that band of men who nearly
| twenty years ago fought, bled and died in
defense of what they deemed the honor of
the State and the preservation of her credit
while many who have since become SO clam
orous for honor, were then with the party
OF reputation, and rose to political power
and pecuniary independence with the Re-
publican party upon this issue. So much
for my position upon this question, which
is not important at all except as the personnel
of this article may effect its influence upon
the matters involved. Now as to the subject
matter, offer two suggestions. First, that
the time for election be the same
as for the general election. Second,
that special commission of the legisla-
ture be authorized to collect testimony upon
the issues involved and publish it, so that
the evidence may not all be lost by the death
of contemporaneous witnesses, and so that
the present voters of the State who know
nothing about the facts may have some rs-
liable data upon which to form an intelligent
verdict, and not be dependent upon the e1
parte statements and misrepresentation of
heated partlsans on either side.
Without this it will be impossible for the
present voters of the State to decide be-
tween the conflicting statements which will
everywhere meet them.
The reasons for holding the election in
November at the general election are that
full vote cannot be induced to come out at
special election. There will be no candi-
dates to excite any interest, no fund to pay
for tickets, speeches, circulars, wagons to
bring out the voters, or any of the usual
paraphernalia Of elections and any man or
set of men who undertake to cash bills for
these purposes will prejudice the cause and
prevent settlement, as was done before at
theS special election by giving suspicion that
they belong to syndicate to put money in
their own purses as we'll as the bond
holders.
At the general election all that is neces-
sary to secure the success of this settlement
Ii that both parties agree to adopt this plan
of settlement as part of their platform, or
I might say that either party taking this
course would be very apt to induce the
other to do so-or failing in this, would
win the election if bold and vigorous can
yass was made. But if both parties are too
cowardly to father so mild measure as
this, third party would be in order, which
would at least spoil the machine states and
smash enough political crockery to induce
both parties to s'stand from un-
DER And if due notice was
served on them that such a
third party would be formed, headed by Gen.
Sibley, or some equally good man, and rein
forced by the ablest and best men of the
State of both political parties, it would go
far to induce them to father this orphan
debt and rid the State forever of its incubus.
This is an off year, when there are 10 polit-
| ical questions before the people of the State,
and we might as well have q little matinee
IN November and wipe out this old debt as
not. advocate this measure not on the
| score of honor or honesty. I know how fu-
tile such appeals are and how little effect
they have. advocate it on the score that
''at aosH pay'' the tax payers of Minnesota to
get clear of this debt in this way without
levJing dollar of taxation, and by giving
the 10000 acres of land that never cost
them cent; while if this matter is allowed
to run on at loose ends, while We grow rich
or and richer, and boast of our 5000 miles of
| railroad and 100000 of annual income
from the very roads which owe their exist
| ence to those old ssswindIing bonds,'' the
moral sense of the outside world will compel
| Us for our own credit to pay dollar for dol
isr of the bonds By direct taxation.
There will not be another legislature for
two years and we run this. great hazard by
postponing this vote.
| In three or four more years. when we send
out our immigration pamphlets and boast of
! our 5000 or 1000 miles of railroads, our
6O,OOO,000 bushels Of wheat, our $4,000
600 OF taxable property, our 100000 popu-
| lation, with sparkling cities all over the
State, and tell the people of the world that
We owe all this splendid jewelry to the fact
| that we borrowed of Selah Chamberlain and
others the money to give us our grand start
on this career of prosperity, and that we
have refused for twenty years to pay him q
! cent, and have refused even to compromise
on any terms, we shall be very much in the
condition of the country girl who came to
the city and lost her virtue. When she re-
visited her country friends and exhibited her
diamonds, satins and silks, and was asked
how 30 great change in her costume had
been brought sabout, she answered, ssWhy,
didn't you hear that I have been
ruined" We shall, have to point
to our shame to account for our jewels. The
| very glittering emblazonry of our wealth
and grandeur will advertise and bring out
into holder relief the shame of buying all
this prosperity with debt which stands re-
pudiated in our constitution. And now one
| word as to parties, and I will close. The
dominant party in this State has always had
it in its power to settle this question an re-
ieve the State of tho debt and the stain upon
her credit. We owe to the Republican party the
shame of being classed with Mississippi, fol
we are 80 classed whether rightfully or wrong
fully, and it is not pleasant to be classed in
this category. With all the boosted virtue,
religion and intelligence of this party, it is
disgracsful-simply disgraoeful-tha its
deacons and its elders have moi