Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-07-29
TIE PARTY OF REPUDIATIoN.

We give place to-day to two communi
cations upon the bond question, partly to
give both sides hearing, but more es-
peciallv to show the'view taken by the
public of the advocacy of an interested
newspaper. 1t is an undoubted fact the
wonderful zeal. surprising the affection
displayed for Damon by Pythias, mani
tested by the Pioneer Press for the bonds,
has contributed more than any other one
cause to create the feeling of distrust
concern to advocate anything which is
honest, that it's very friendliness casts a
Shiny suspicion upon the object of it's
love.
The proper way, however, is to Hook
upon the question upon its merits There
never can be any settlement of this bond
matter which will give general satisfac-
ton. That cannot be expected. The
wise course, therefore, is to make such
settlement as can be done in accordance
with law and equity. The GLOBE, with
out assuming to act as arbiter, believes
the debt should be paid All admit that
something is due. The chief point of
difference is as to the amount The
present plan, if acted under, settles that
by placing the sum at fifty per cent. of
the amount which appears 10 be due on
the face of the issue.
The second great point in controversy
is whether this so per cent, if agreed
upon, should be paid without submitting
the matter to the people. The people
have never manifested any excessive de-
sire to pay this debt, and they according
ly have only themselves to thank for the
effort of the bondholders to eircumvent
them. There can be pretty strong evil
dence deduced upon both sides of this
question. 1t is very popular for the pres
ent generation to bequeath large amount
of labor and expense to posterity, The
people of to-day always have immense
confidence in the ability of posterity to
accomplish great many expensive and
disagreeable things. 1t happens that
posterity sometimes demurs to accepting
the situation. The present inha bitants
of Minnesota might be said, by immigra-
ton and otherwise, to be the posterity of
the period when the disputed State rail-
road bends were issued. If the residents
of Minnesota in 1858 had squarely be-
queathed this legacy of debt to posterity,
the people of to-day would undoubtedly
accept it and meet it manfully, though
they might not admire the sagacity of
those who imposed the original burden.
1t happens, however, that hungry
organization, known as the Republican
party, was just budding into existence
when the people of Minnesota were con-
sidering the interests Of their posterity,
by kindly supplying few millions of
bonds to be paid at the end of quarter
of century. This hungry organization
thought to curry favor with the men of
that time, by throwing sop to those who
were to come after them, and they &C.
cordingly inserted an ec post .facto
clause in the constitution, declaring that
posterity need not pay the obligations
already imposed and solemnly contracted
for them to meet, unless they were will
ing to do so. The manifest fraud of such
an er post factO procedure ought to have
made every honest man in the State
blush for shame, but it brought political
power, and that covered multitude of
sins.
Every iniquity, sooner or later, brings
its punishment. Prosperity may seem to
reward it for time, but the day of reck-
oning will ultimately arrive. 1t looks as
though the crime of reputation perpetra-