The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-12-17

fine. or merit while extrsvagant renumer-
alton. Oh the other hand, leads 10 corruption
10 the effort to OBTAIN public place. IN a
government like ours. where official positions
are OPEN TO all, salaries should be 40 regulated
that appropriate talent, dependent upon its
employment for support, may not be excluded,
and should be graduated according to the
abors ard responsibilities Of the officer No
part of the remuneration for official service,
should be deemed cancelled by the honOrs Of
position. Salaries are intended ~ compen-
sation for labOrs imposed by law upon the
officer. The honors b. reaps depend upon
the manner in which bis duties are per
formed
The successful prevention Of extravsgant
expenditure and excessive taxation, is great
ly dependent upon rigid exactncss in collect
ing, saie-keepiDg and disbursing the public
revenues The organization OF the financial
department Of Government. Is both difficult
aud important. Once established, it il not
easy Of change or modification. Economy,
simplicity and efficiency. are the leading IDEAS
which should preside over its development
by the excellent provisions Of our Constitu-
ton, the sub-treasnry system IL eiiectually
secured and the unrighteous connection bs-
tween the taxes Of the people, raised for the
support oi the Government, and the specu.
laiion Of Bankers. Is forever prohibited and
declared ENLIGHTENMENT Of the State Finances.
Keeping this great feature Of the Constitu-
ton and sound Government, ever in mind
il will beyour duty 10 provide such checks
and safeguards, as will secure safety and eff
cheney in the Financial Department.
II IS a high compliment TO the framcrs Of
our Constitution, that they carefully pro-
iecied the people from heavy and onerous
state debi~-unIess in time Of war or lnva.
sion. Two hundred and fifty thousand dol
lars " the maximum 81 debt authorized; and
care is taken also. to provide, that tax
not only 10 pay the interest. bat 10 diminish
the principal. shall be levied. commencing
with the contracting Of the debt. Ihi.
will place the credit OF the State on the
irmesi basis and no difficulty need be APP
pretended in selling without delay, and at
par, boads 10 TIA, amount bearing an inter
est OF eight or ten per cent. The prompt
Yale OF these bonds will secure the means To
put the State machinery in successful ope-
ration, and add much to the relief Of the
people.
The monetary difficulties which Cypress
the country at the time Of our transition
from Territorial to State organization,
while probably embarrassing your deIibera.
tons 10 some extent, will doubtless prove
fortunate In mpariing greater caution and
wisdom 20 your Legislation. You may
draw thereiron many useful LESSONS, aud ii.
rect your conclusion. in regard To the State
finances from cotemporarycNpericnce, The
existence Of these difficulties proves how
unreliable are our hopes OF continued
success, and expected wealth when to oil
outward appearance, they are within our
reach. In the midst Of the greatest pros
l"rity and plenty the shock comes, and in.
dustry Is paralyrd. Surely there is some rad.
zeal error here, and 1t is the duty Of States
men entrusted with the public interests, to
trace II TO its origin, and guard against the
recurrence OF its eyils, IL within human wis
dom anil lSg slatiyc power. But in the
hour OF panic. when every financial empiric
vaanfs ms specific rs certain remedy. il
becomes the more necessary 10 resist his sol
smn appca,s and selfish designs.
The history of the world bears evidence
that every attempt, either to debsse or IN
fate the medium OF commerce, or the meas
ure Of value in the exchange of cummodi
ties, by governmental expedionts, ha- only
ended in disappointment, oppression, and
bankruptcy. What is false both in theory
and sound morality. can be bu' pernicious
in practice.
In new country, with little export trade,
and comparatively isolated from the rest of
the world restricted paper currency may,
for time prove convenient, rs u circulating
medium, but 80 soon "a commercial trans
actions become Of any magnitude. they are
affected by the standard OF valu, with which
they come in contact and common me
dun is required to regulate the intercourse.
Iha, medium. by the common consent OF
all civilized nations, is gold and silver, Ev.
cry act, therefore. that tends to substitute a
baser and less valuable circulating medium
dSturls the true STANDARD, and robs labor
and trade Of a portion ofits reward. When
gold and silver are announced at a premium
| il might he Of some public lutcr,s, 10 know
what bad been substituted ~ the standard
/ Of value
The calamities brough, upon the colouit.
10y paper money. during tho struggle for in.
dependence, I'D the trainers of the cons,itu
ton to insert in that instrument n claus,
making gold and silver the only legal tender
for debt ; with an additional prohibition
/ agains, any State emitting bills OF credit,
How far these wise provisions have been oil
served in practice cannot much longer ~
cape discussion and investigation.
livery effort made 10 avoid their stric'
/ observance and common sense Interpretation
either 10y the zen raj or State Gov, rum,nts
has ed 10 bankruptcy and ruin Alter de
ser,ing onc error, from tie signal failure, vi
resort,d TO another, and again. after hi
and full trial We find the country struggling
with PROSTATE hopes, suspensions, bankrup,
cirs, and a comparatively worthless currency
The Constitution Of Minnesota, though
not entirely prohibiting hanks Of issue. la,