The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-10
NORTHFTELD GOLD BOND.
Facts In the Case as Taken Erom
the Records.

Inc article in the Globe, the object az
winch was to show how the free silver aoita
lion nad caused the discharge of the laboTfne
men employed by this city and the suspen
sion OF projected improvements seems to
nave unnecessarily agitated the local soft
money men. In order that there may be
no ooubt that the G o e's information was
SUBSTANTIALLY accurate, the following report
OF the council proceedings is taken from the
clty's official paper, the Mortified Iadepend-
ent, and should be conclusive as to the facts
of the case:
Wednesday. July 15-"On motion. 1t was
resolved to refund a certain bridge bond held
Dy the Bank OF Cannon Falls, due about
Aug. l, and also to pay the amount of 500
interest due on bends.''
Friday, July 31-(Referring to certain Ger
respondence in reference to the outstanding
bend): Aid. Law stated that the substance
of the matter that the bank was willing
to refund the bond, but the bond must he a
gold bond. The prevailing opinion among the
members of the council appeared to he against
issuing gold bond, and Aid. Law stated
that it possible to pay the bond leaving
a small shortage at the end of the year to
be provided for at that time. He favored
doing so, and moved that the vote passed at
the last meeting OF the council, to refund
the bond be rescinded, which motfon ere
vailed unanimously
On the following Tuesday another meeting
was held, when 'it explained that with
the payment of the bond authorized at the
last special meeting and outstanding bills
allowed, there would be only about $3.50 left
in the treasury with which to run the city
for the balance of the year. In view OF these
facts. Aid. Dougherty offered a resolution
that the street commissioner be instructed
to at once dismiss all his force, and centne
his own work to the drainage OF unfinished
streets that may be in danger Of washing,
and such repairs may be necessary for
the safety of the travelling public.
When the G b s correspondent, cit
izen" asserts that no further work had been
projected, he Is not In possession OF the cor
rect information in regard to the facts. One
of the aldermen stated today that there were
probably a dozen places where 1t had been
Intended that work be done If all the money
had not been used to pay the bond, and that
if the funds had been on hand they would
most certainly not have discharged the street
force and deprived the laboringmen Of work.
In regard to the citys being able to borrow
all that need be said that subject is that
the charter forbids the issue OF certificates OF
Indebtedness in any sum exceeding $1,000, ex-
cept their issue Is authorized by popular
vote.
1t is difficult to see how any person Of
ordinary intelligence can fail to comprehend
the very simple fact that in this matter the
agitation for free silver has worked injury
to the laboringmen whom the council were
Obliged to discharge because creditor of the
city concluded that only a gold bond would
ment to the city itself that necessary work
should be delayed 1t should also be clear
to the meanest understanding that the city
council must have had some reason for re-
fusing to give gold bond when they were
perfectly willing to renew the instrument II
the creditor would accept an ordinary bond
Unless some change is made in our currency
gold bond is no better than any other kind
OF paper and no harder to pay. If the council
did not reason in some such way as indi-
Gated in the article published in the @ o b o
they could only have refused to give a gold
bond because Of a prejudice against the name
of the metal on which our currency is based
and this is hardly supposable.
Mortified. Mimi. Aug. &