The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-01-17

IL uOeS not require any very
great sagacity to see that, as soon as the
road is commenced, every acre of land thus
subscribed as stock, md all adjacent lands
Will double and even more than quadruple in
value. If even within six miles of any pro-
posed road, especially if it be one running
East and West, there could be obtained a
stock subscription in land, at the present
cheap rates, of one thousand
acres, making in all two thousand acres per
mile, it would be sufficient to build the road
the cost per mile to be $40, 1000,
which is deemed ample in this level region of
the west. 1t is but reasonable to believe
that as much can be realized here as there
has been out of the lands granted to the H.
lnois Central Railroad, say seventeen dollars
per acre, which would give $4,000 per mile.
supposing the stock equal to two thousand
acres per mile. 1t is believed that the lands
subscribed as stock can be had at an average
OF five or six dollars per acre, and perhaps
less, when the owners are conscious that
their remaining lands will more than double
in value, and every product raised will find
a market almost at the door at increased
rates. This is but a glance at plan for
building Railroads in Minnesotv without
government aid.
Some progress has been made in prepare
lions for constructing the proposed Railroad
between Saint Paul and Saint Anthony. and
to connect ultimately at the St. Croix, with
the Chicago, Fon du lac and Saint Paul Rail-
road. The latter company, am informed,
design to push forward to completion at as
early day as practicable, their road from
the st. Croix to Saint Paul.
Stock has been subscribed to the amount
OF three hundred thousand dollars. as am
informed, for the Transit Railroad from Wi
mona to Saint Peter on the Minnesota River,
and strong hopes are entertained by the
Company that some aid will be obtained from
the Government.
1t affords me pleasure to inform you that
contract has been entered into by the Re-
gents, for the construction Of the new Uni
versity edifice, which for architectural beau
ty and symmetrical proportions, when finish
ed, will not be surpassed in the West
The cause of education has by no means
been neglected in the midst of the strife for
wealth and speculation, but on the contrary,
common schools have been supported in al
most every village in the Territory ; Semin-
aries and Colleges have been erected and
are now in operation in severrl parts of the
country, each in a most flourishing condition
The Superintendent of Common Schools has
taken great pains to infuse new life and ex-
cite renewed interest in every branch of
education so far as it came under his juris-
diction or control. His able and interesting
report will be laid before you, to which / re-
spectfully refer for further information on the
subject.
1t is earnestly recommended that before
you pass charters for any purpose whatever,
you will carefully scrutinse the powers and
privileges to be conferred upon capital
Combined wealth has ordinarily more than
its share of influence and power, and when
additional facilities are given it, they should
be scrupulously guarded so as to prevent
them from becoming instruments of wrong
and oppression instead of promoting the pub
lie veal.
One of the serious obstacles to the rapid
development Of the resources Of some of the
new States, has been the numerous chartered
monopolies which are now hanging on their
prosperity. These monopolies may not
seem to threaten our prosperity at present,
or for some time to come, but in few years
they may be galvanized into life and used by
capital for purposes detrimental to the inter-
est of the people. There are abundant evils
in the corporations heretofore chartered, and
we may all feel thankful if they do not some
day rise up in judment against those who
passed and approved them.
Corporations are sometimes necessary to
combine capital for the development of our
country's resources, when without them
these sources of wealth might lie dormant
for ages. Yet we are all but too we'll aware
that, in every such case, the people give up
whatever exclusive privileges these corpora
tons acquire. 1t is lamentabe fact that
the West is fast becoming the theatre for
corporations and exclusive grants and privi-
leges to the capitalists of the East and North
under and by which they are to branch out
in their various fields of speculation.
would not feel that had fully discharged
my duty in giving information of the condi-
ton OF the Territory, were | to fail to call
your attention to the vast amount Of paper
currency which has been sent into the West,
and particularly to Minnesota, for circulation
during the past year. Situated as we are,
beyond the reach of telegrapbic commune
cation with the States in which all this pa
per currency is issued, with irregular mails
our people are in imminent danger of being
imposed upon by such funds.
1t is by no means an easy task to devise
a remedy nor can one that will prove effec-
tual probably be found until we become a
State. But in my judgment, the first step
to be taken by the Legislature is, to pass an
act prohibiting the circulation of any paper
currency of less denomination than five
dollars. 1t is believed that this will tend
to increase the circulation of gold and silver,
and keep out bills of the denomination of one,
two, three and four dollars. This subject need
not be elaborated to show its Importance or
the salutary effects which must soon follow
the enactment of such a law. 1t is only ne
cessary to say that small notes generally find
their way into the hands of the poor or
those least able to bear the loss which might
be caused by the failure Of a Bank, or the
partial deprec' alton of the currency. This
portion of our people are less able to judge
of its character, and have fewer facilities for
detecting imposition. They are, therefore,
much more liable to be imposed upon, are
the very last to learn when Bank fails, and
consequently, should be the first to be pro-
tected by the laws Of the country. We have
no telegraph to announce to us this evening
what took place this morning in New York
or Boston, and this is another reason why the
law should try at least to protect the people
of the country against the worthless and de-
preciated currency that is constantly finding
its way to this section of the Union.
1t is the opinion of the observing and bet