The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1853-08-06
BANKING.-Some of the two-penny Locofoco

poIitiCldHS ABOUT tOWn must tnlnk IL q matter
of vast Importance to have us placed in false
attitude before the public, in regard to the ques-
ton of banking. They say we are occupying
Democratic ground. We are well aware of
that but at the same time have no desire to be
understood as occupying their exploded and
impracticable ground of hard money exclu-
sively. The Wings all over the Union, now
as heretofore, stand opposed to all manner of
wildcat and shinplaster banking. Our views
upon the subject are well embodied in the fol-
lowing extract from the ST. Anthony Express
'The MinnesOtan speaks out very decidedly
in denunciation of certain selfcOnstituted bank
ing institutions which have lately sprung up in
our Territory. Our citizens know as much
about the Merchants and Mechanics Bank of
st. Anthony as we d. and all our readers have
been informed Of its irresponsibity and unwor-
thiness of public confidence More recently
another establishment of a similar character
has made its appearance in st. Paul, and is
styled the Central American Bank. The peo-
pie of ST. Paul give no cOuntenance to the con-
Germ, as our people have utterly refused to
have anything to do with the issues of the Mer-
chants and Mechanics Bank of this place.
This is right. 1t is right both that the press of
the Territory, as faithful guardians of the Dub-
pearance of anything which threatens danger,
or disturbance to the settled current in our
midst and that the people, being forewarned
should withhold their confidence and sternly
oppose all such unsafe concerns as banks of this
nature must necessarily be. The question of
Banking has been made a subject of agitation
and investigation in most of the States east and
south Of us, and the old system of corporate
institutions, with mere nominal securities thor
Oughly repndiated and abandoned. The Free
Banking system, is now generally adopted in
the States. 1t permits an individual or compa-
ny to issue notes on their depositing with the
State Treasurer, or some other State officer de-
signated, an amount of collateral security
equal to the whole sum of the bills issued, and
which may be readily convertible into money
for the redemption of these notes, in case of a
failure TO meet their obligations at the counter
BY this system the bill holder is safe beyond all
contingencies. He is not obliged to RELY on
the individual integrity of those who have the
immediate control of the institution. The de-
posts, dollar for dollar, of all the issues of ey-
cry bank thus organized, are ample security
for the ultimate redemption of its notes. This
system has been adopted in Wisconsin, also in
Illinois, and a general confidence is everywhere
repOsed in it. By it, shinplasters and all kinds
: OF worthless paper have been driven out of the
avenues OF trade, and money shavers who live
by loaning money at from 80 to IS per cent
are compelled to abandon their heartlcss occu-
patton by the improved currency thus crea-
ted.'
n Coon TME.-SOme sixty Or seventy edi-
tors of Pennsylvania, Ohio, and Indiana, re-
Gently accepted (of course they would accept
the nckv rasca,S, nm ;n,,;+ot;o, from, oon.o;,
railroad and steamboat companies, to take an
excursion to Niagara Falls. 1t need not be
written that thew had a iollv good time of if
,o,.;.,,..,,. G. a., e. >,
~ my s'' '.'io'' upon the
waves OF ola Erie The sprlghtly local of
the Cleveland Herald, who was one of the par
ty, thus docs up' that nights and the next
lows ,,-ocoo,,;,,,,,
run anu lrot,c hau PLACE IN the recent eX-
t. Az on'v h.er CaP1ain coming on
' uT"," "a, anu sees 'ne clv"o, put nov wishing
sneu nc Was p.asyr 70 c'lIl upon Capt; Mcbride
lor a''cns ~, s'Loitu icr"aIG ana 'haing soft
sPot on sle deSH, laio nimSeI down, with coil
t ~ up ion Pillow. ne nid siepe pu' nan an
noui, "nIn .'s ne says, 'iie boys SMOKED me
ou', ',A ! ipunc suc roPe was l1iEeu, giving
h' G nan a az nun enP'oy n"i,s III Ioose'iihS my
soon nosiu tna' 'Iey were Douhd ne
Soot - 10y ,n .I ueei',reu war upon the
co"od oho',t wv" ~ S,' si'o lantern, nc pro
! ~ 49,: I: ~ NC "UIn'IS' W the low
tioi.atu HIn,e 'iie io.uest klnd OF call for
shnmtod IN h;s ing a G GI n'sh onciaf ne
:. NJ ;; u.as tho r.. ,-, you a .iche', SIT
Of sSs 81 t1 tb t, wat 90 you want
I u s;r ~ i h,,. 'ln.e ~ night SAD hour.
, nmUm; gu, ut' c5oNu aooard-no time in
:. Mn a, mn. oo.ieo' how--'ichet. sir
:. Tho. '' sos ny.nlhS p9t my mVltatlon.
nwo m n IUmsGsy W us'ufn you SIT. Out
V,nnst no tr Inc oInnI' "elsn' WITHOUT ucket
IT, 8. -. y w. n o'hoI anu se. one.
III S:.I ', "iinoye', tuFnea OUT, Iupbed MS
~ o, Mn v aamu, Peleu oh ms Doots win
a1H ill., .a sta1 sta iGs tne ounce, when the
o'.ieu n'!, p"Ih ana looking close
~ MS i'ce' ympa.n'-lnsy slid you look
urea; young lha,; anu scelne ~ you, you may
turn INTO the berth ana S:eep Just thrce quar-
ters OF an hoaf. sod! shou,ta the guest;
as ne !olned IN the laugh against himself, and
then turned In again. The moment after, he
pulled carpet bag from under sleeper.ss
head, which came upon the floor with " bang"