The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1881-03-10

of the bonds without submission to
the people, then this act shall be
submitted to vote of the people of
the State at the next general election.
Regarding the probable decision
of the Supreme Court, the Mime
apolis Tribune says:
The only contingency now attach
ing to this subject is the question
whether the Supreme Court will de-
clare void or valid the amendment to
the constitution adopted November
s, 1850, which purports to prohibit
any settlement of these bonds with
out previous authorization by a pop
ular vote. But this contingency is
only one in name. There isn't a
neral possibility that the Supreme
Court of this State as now constituted,
or any tribunal before which this
matter can be legally brought, will
hesitate to pronounce that pretended
amendment Of no effect whatever.
The opinion of competent lawyers is,
well nigh unanimous on this point.
1t is sufficient to rest the case against
this preposterous amendment upon
that clause of the constitution of the
United States which says: s'No State
shall = pass any er post .facto law
or laws impairins the obligation of
contracts" Every one of the out
standing State railroad bonds is a
sealed contract between the common
wealth of Minnesota and the owner
of such bond. These contracts had
been entered into by the. State. in
1858, and all rights of third parties
lad then accrued hereunder. Yet in
1860 tie State pretends to introduce
into its organic lew a provision not
only impairing the VALIDITY, but pro-
hibiting the fultillment, of these same
contracts. Such an amendment" is
not worth the paper it is printed on,
and the courts will so rule the mo-
ment they have an opportunity to
do so.
While many of our citizens ex-
press the opinion that the State of
Minnesota should pay the whole face
of her bonds or pay nothing, we
think the majority of the people will
rejoice that this vexatious question
has reached so satisfactory a solution.
The Legislature has provided for
the payment of all that the principal
holder of the bonds asked, although
it must be admitted that he was com
PEELED to modify his claim in order
to obtain a settlement. On this
point the Pioneer Press remarks:
The people of Minnesota are not
even to have the credit Of what little
seff-denial it would have cost them
to pay the interest and principal of
the adjust nent bonds. For under
another bill which has passed the
Legislature the proceeds Of the 5OO,-
900 acres of internal improvement
lands are to be set apart for the pay
ment of these bonds, and, at the
rate already realized by the sale Of
these lands, they will nearly pay the
whole amount of the bonds. There
are about 100000 now in the treas
ury derived from the sale of lO3, 900
acres of these lands, and it is estimat-
ed that the whole 100000 acres will
bring about "a, 100000, sufficient, or
nearly so, to pay the entire amount
of the adjustment bonds. So that
the bill passed by the legislature is
virtually giving the land for the
bonds, and is therefore substantially
the same as that which was ratified
by the people a few years ago.
This is another reason why the legis
lature did wisely in not directly sub
hitting the bill to the people. Fol
its provisions are substantially those
which the people had already ap
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