Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-10-17
PLLLSBURY IND THE OLD RATE-
Road RONDS

IALLS1SO fIY AND TIL OLD R47T-
ROAD BONDS.
One of Pillsbury's organs attempts to
criticise Mr. Rice because he is in favor of
paying the old Minnesota railroad bonds
We do not know Mr.. Rice's position on this
matter, but as he is an honest man, we have
no doubt he is in favor of SINE adjustment of
that debt. It is to his credit it he is in fa-
vor of some fair settlement, and certainly no
Plllsbury organ should raise the
issue. Gov. Pillsbury has been
even officiously persistent in urging
the payment of the bonds. In his inaugural
in 1875 he said:
The bonds thus deliberately issued are held
by persons in all parts of the country. They
express an unmistakable obligation attested
by the great seal of the State, but they convey
no hint of qualified payment nor intimation
that could, by any possibility, serve as a warm
ing to Innocent purchasers. Every day they
thus remain dishonorod, threatens the lasting
dlshonor OF our State. But the conclusive
estoppel OF the last plea for non-payment.
whether upon legal or equitable grounds. is
the fact that the State long ago obtained by
foreclos ure the property which was the
consideration for her assumption of the debt,
~ 'o0uAc "ni0n ouCH Property was pledged.
Except for her obligation to pay such debt.
she had no right to the property securing it.
And moreover, this property thus obtained.
consisting of lands, road beds and franchises
by re-grant from the State, served to forward
the construction of the existing railroads.
whose benefits we have since enioved. Can
there remain a possible plea for the nom
payment of debt thus honestly contracted
and where the object for which it was con.
tracted has been attained and enjoyed?
In his first message delivered in 1877, he
went into an elaborate legal argument to
prove the validity of the bonds and urge
their payment in full. He made this en-
phatic declaration:
In my first message communicated to vour
honorable body one year ago, took occasion
to urge the performance of long neglected
duty on the part of the State in respect to the
adjustment of our dishonored railroad bonds.
lime, reflection and further knowledge of the
evil OF practical Reputation, have served to
deepen my conviction of the solemn OBLIGATION
resting upon us in this matter; and feel it to
De my duty to reiterate the recommendation
then made, and to emphasize the reasons owen
for the prompt performance of an imperative
duty.
In Gov. Pillsbury's message of 1878 he
again came to the front with an elaborate ar
gument for the payment of the bonds, saw
ing:
I feel impelled by the convictions upon the
subject expressed in my preceding messages to
renew my recommendation for an early settle
ment OF the Indebtedness represented by our
dishonored railroad bonds.
The voters having pretty emphaticalIy re-
fused to do anything IN the matter, the Gov
ernor did not seem inclined to elaborate in
1879, but he made this notice in his last
message:
:. The reent vote of the people of the State On
the proposition to exchage internal improve
ment lands for railroad bonds, indicates that
they are not prepared to make settlement of
this vexed question. This 1 deeply regret.
NY convictions, as heretofore expressed anon
this subject, have undergone no change, and I
earnestly hope that in the near future the neo-
pie OF our State will take a different, view of
the matter. -
We are not assuming that the position
thus taken is discreditable to Gov. Pillshury.
though we presume the Minneapolis papers
will regard these extracts from his messages
as personal attack by the G1oBE,'' but it
Is evident that Mr.. Pillsbury can not detract
from Mr.. Rice by charging him with favor
ing the payment of the bonds. Billy
Melghen, the Greenback candidate for Gov