, 1880-07-15
SNY LEVEE BONDS.
A Melancholy Statement by an
Eastern Paper.
Correction by Judge Trumbul Of Some
of Its Errors.
Judgo Drummoud Holds Out q Faint
Hope to tho Bondholders.


the statc1nchts were will appear further OIL.
This article set ous by referring to tho soneral
law Of Illinois, pusscl April ~. 1871, providing
for the construction Ut ,drnins and lovees, md
tho net Of April ., 1877. provId'ng for tho regis
tration Of bbpls n1.dpr tho prior net. III sub
utance. these aotA PROPOSED 10 asscss lands which
might be benefited by tho Improvement and pay
tn1nayes 10 tho owners Of land 10 bo Injured.
Tho point was made that those lawa. con.t
trnry to tho provision in tho State
Cokstitut1on thnt taxntton Tor corporate pur.
poecs shall be uniform III respect to persons and
property, ami that municipal debts shall not OK
coed per cent Oh tho valuation Of taxabto
property, allowed indotinlt, loose, and unlimited
taxation. The Hny bonds were m anomaly
being neither State, municipal, nor corpornto
but merely those Ut MI association, secured by
rcal catate Of very uncertain value. Tue regis
tratlon act carefully d!s1rowcd my State llabtt-
ity, mnkiug tho State morcly tho custodian Of
any taxes actually collected for tho bonds.
Neither machinery for enforcement nor pennlty
for non-puyincnt sas provided. and the bonds
at best vert simply lion on tho lands, assun,-
ing that tho legality Of tho whole mntter
wns not upset IN tho Courts. Tho bondhodcsa,
according to this New Yurk commentator. wore
really silent paTts5s y =. tnS suSsess f1 Sf tnS
sharo In oonIccti,ral profits froni tho reclaimed
lands, Tho roslcst aaticIpa tIons vera o1c!tcd,
land. boom was otie Of tho llst results attending
s5F u BSes,s4 S 1y Tefx s
evnr ihe ottentinn n IN G"mIfnaors. w"s
cMi!cd to certain tacte regarding tho position, of
tno 'nonI nrso, 't. ,,Gr ss,ts
had pcen commenced 81, !n,yoelvlng. the
ta xy no o srss ns ~
together with the sottldinens of tho worry prae-
r9H s , nj wsthaf sao co oTora rt 81 H. se
or ,ne'F @ 9%n 9eMuMt Gna loF ~, ~
snamry FIR tcsti,q tnsn t,,stsstnns st o,e M
e liz houiGo,deia.s and % i wns Of Tic Krentest
mr,ppn,rt,v 'tn"@ e0's s1'u'' eoA'' Ao'"af"
p''np.y, .s ~ vrvcoru.orxevr ro rupv
to submit to assessments upon which thoy mover
psa Sssa VISA SSt h1t tat the 'yse
lulaIls Ill the cxpect4tiohs Of tho landowner,
s'S sH st e 20 aso SoeSs sSns
,,.their lands;; previously aupmoIsea during
FORMED Into tho best agricultural lands in the
Btate; and that - tho public health It, tho EUR.
H., o.on yo @ ~ ose % vasy Mia
so,v Tr ,ra tvor !. taosS ast, ,,ata ,,aIg
% 5inss its sSs.. Il WI rcluStantIy sdnttyd.
bxsy e hysr 1s tbs sy
t,e.1 lS mp19y, accor9snX 70 tne W!Eef,
Inv was ed that sa ~ tsey s ouss ss
mnt 10 nafG ~ toy. tne nsoncy ley Wonad M0t
tmph yh hons orgniid Ill., ,vra t}n,v n ars VIC
repnu!ateal, shq !aw uee!arod nneoastlsntlonai,
tno 'efes went 'nao nc tn, me , catoay q tho Courts
TIe benas sere e Pr oul ,lurl5s tEe iptation
snxaa0. a s. unden 3 otntnRIy ~ enis.aneSs u, sah
srty virtually to 1S created ,t BY .ao success af
to ianE nt shen twicc III ThH nruhascra ni1yy
nsesG sneg'a pa5sera n sehGms TO- reclaim
iheir nyaatS!t t VILE W, atant M nna Goyon
~ ~ ,s;wsSs ~ ~ ;,.
shar" of ihs nrnn,.aIs nrnriliati tha ydanoaitnn
md the ability both ex{stctl. "trhIa" the artlUlo
concluded, "was tho fMtt Of tho caae; tho Rp-
parent case waa simply buying 4 aiit bond,
soss g ss so and Das 4 aaa s,s ss h9
iii iSto rroad bonds and as icy 5st ure re now now
vain. Rttcr all, ID aprcMd tho net In slight OF
sot.e birds, II only thin aprinkllug OF meal is
VI It i. 50 hpppcps that
JUDGE 7Huupu1z
made m e1amioation IS1 Of tho whole matter some
fe gaftoss tps Gf ssGtg w neariy e @ IT.;
,se!s ,; rs 10 haa S6taaed tIen, on Az nvestiSs
IvnI, III, htuPo4e. 'or ,,, 1"s no"uMa - cMi!ca te
and NJ n'm ths r,suy or ,n,o1 so axE siS
~ t hty ~ y. af tno
Kin tIG ~ tor 1uu aaoWcd
1nr Hnt t1. S"spantsa My pt ~ piea
.c, y, 'IIa liz ',nt i auu Lunau sgtt!eu
b'nt ~ ~, m,s eAas rs tasnuga tua hfttcG
Iii, Seo w "' o'o p"t"pnaet on tae suoJeee' anu
Aaanr ..r,, ..,.,
Ss,'f,e @ 1n p9tG % me qT ana the
nns n,,a t taS tao ~, FIX ls.aha i.ayoo
t| 0.s @ M.,.s ~ ~ ot lno tsM M11ef waen
nTf 1,, Mn.o 1ssusu t, ~ ~suMeu ~ ~ HE paHPu!Ot
xhi, ,So 1nvan w. Nh n 81 tnn w unuer
!ae igssH WY ~ ~ opnio altor
nan. q, vn s cd sa1 %as as sao
tn s,,s Ut Hu ~ ~ Nv. eani teh upon
~ M s',,t EAT. Iy H. t sge 10 lido ap'enht
MWhmt at1nut thn siicnMtlnn' Judec. that
TIE uosDa wRnx uEp,ynIl lrpny,s
attcr -, - ea,,s, ,,'a,sSr 80 - t..n ,a..a..
ite III " t 1n9 1no any
a r. ", W. ~ 9s,a Guars 20
& cnsa .n ta ~ " srn sy MF asssssn,ants
inS ti,s enustittttfonniitv az thn Sss Tur thn ~.
fufcsment. ThSt t:ni,rt' wifhas,t tiltnv 'snv un
oninIon IN tba casn .fGctjed. m Tia uuthnHItv ~
another cse csscptaIIy dlTcrotit, rs Il waa IN. n.
aiatesi, ihat tho asscssu,o,,t could nat ooIletiM
Th" vea tx.rnifmei n t,dreti fi,o,;snnT nt.Srs ~
iand cn1nnar%tivciy wnrthlrss, mi r,aas I'M
lani atnpnv ina fnost yuiunhit, In IHe Etafo II
fius attsnI fnr sevcr%l vc"11, Mir i,cimtt nars ~
lectcI. and not Kent in nropor srcnar.
it ryns trYkar tftn,1h Nv "Ffhnt
N.sAVhAA -. tAV