Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1881-02-16

it became due, though ultimately ceasing
to do so and becoming bankrupt. But
the trouble did not rest there, the meas
u-e of her burden was not vet sufficient.
ly piled up; all that had bt en- done sc
far was to ohligate the city for $4,000
Now 100000 more in bonds were want
ed by railway companies from this city
of. at that time about 5000 inhabitants
This was in 1866. The citizens were
divided upon the question of the issue OF
more bonds, but tie protests and opposi-
ton of the adversaries thereto were over
powered at the polls by large numbers OF
railroad laborers, who were at that time
engaged in building railroads near the
city, and liabilities were, largely by their
votes, placed upon the city that those
transient voters would never be here to
help to pay Thus was $3.50, 900 of a
bonded debt laid upon city of 5000 in
habtants. Is there room here to talk
about 'just debts" Justice, like liberty,
is sometimes outraged and fearful deeds
are done in her name. Mr.. Schley says
that facts must be strong, indeed, that
would warrant legislature in licensing
reputation by allowing a city to evade
the law while she stands out to force her
creditors to accede to any terms which
she may dictate Truly the Legislature
has strong reasons and facts to warrant
her in assisting the city to effect COM
promise of her railroad bonds.
THE INJUSTICE INFLICTED
upon WATERFOWL is not confined to that
lone in the early days of her bondage
Time, and knowledge of the facts.
caused shrinkage in the value or the
bonds in public estimation, and they
went down i'll value to ten cents on the
dollar, and in some cases to five cents
a shrinkage of ninty-fve per cent. That
was the public verdict on these ''just
debts - Heaven save the mark! The
people ot Waterfowl, imbued with IA
sense of the wrong and injustice inflicted
upon them, refused to believe that they
could be held liable for these bonds, and
legal decisions tostered this idea among
them, though cool and prudent men
rmong them then saw that the cheapest
way out of the difficulty was to buy the
bonds up then, and many were so taken
up But the bond-broker at that time
made his presence felt. He bought them
up at the shrinkage, after having, in his
own peculiarly sly way, so worked upon
the minds of Il portion of the people of the
10y as to dissuade them from action in
retiring bonds, and when the syndicate
of bond-brokers and bond-holders had so
fortified themselves IS to become power,
they turned round upon the city and de-
nanded the principle and interest in full,
all that the law allows, and denounced
WATERFOWL, (what fine irony), because
she did not pay her 'just debts" while
limiting, with sarcastic sympathy, that
cher case is hard one indeed" It is
more than that; it is case of wrong all,
robbery; it is case OF black Injustice
md gross outrage upon the city which.
we're the city and the Legislature to fail
re cit, they would ne lacking N their
,u,y. Every man cognizaut o.
these facts in connection with the organ
and continuation ofthc bondage of Wafer
town, who has Il sense OF justice lett in
him; whose conscience is not scared as
with hot iron: whose ideal OF human
duty is to do to others us he would b.
done by, will concede that the Legislatu g
of Wisconsin is justified in her protect n
OF the city of atertown-in putin
forth the strong arm OF her power between
the rapacious bond wolf and the child of
her own creation. The Supreme Court
of the United States did protect the city
when they denied the application of the
that the marshal might be
directed to satisfy his judgment out 0.
the private property Of the citizens" and
RENTED him to the jurisdiction of the
Legislature of Wisconsin, after telling
him that his prospects were not flattering
in that direction( Reese vs.. Water own. y
Mr. Schley asks, "Woulu not general
aw enabling courts to enforce their
judgments be both wise AMI just? Iowa
ias done It, Why not we?'' | answer
No. The laws of Wiscon-
sin shall be truly just, and shall be tenl-
oered with mercy-that is why not. Here
IS city of 1900 inhabitants, cruelty
by rapacious men, whose every
spot of land and every homestead and
in it is not of much more value
Than the amount of the claim of the
oondholders against her. How can there
De any way out of this state of things
except by such compromise as the city
IAN and is willing to bear? The claims
If the bondholders. if enforced upon the
;ity, could only be provided for by an
flexible levy of taxes, and taxes know
out few exemptions-religious and public
are all. No homestead exemp-
ion in that cast, no exemption of any
Of the stock Of the business man, of the
;ools of the tradesman, or any thing in the
homes of the people-their beds, furni-
,ure, extra clothing or food! all is sub
ect to the taxgatherer; and the syndi-
cate of bond-holders asks for levy of
taxes to pay the Watertown bond in full,
when every other creditor in America is
compelled to respect the exemption laws
of the various States and obey
THE SOVEREIGN INJUNCTION
tacitly expressed in those laws, Thou
snail not absorb the homes and neces-
saries of the people, because in their Sc
curity lies my strength" Let the syn
late OF holders of WATERFOWL bonds
reason together; let them surrend-
pr their bonds to the CITY at the same