The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-01-28

h'A d. VI IN i ~ -.
The House met pursuant to adjournment.
Notices ofs number OF bills to he intro
duced were given, and reports read from
standing committees.
BILLS INTRODUCED.
BY Mr.. KINGSLEY Providing for
paying the expenses Of the Constitutional
Convention.
BY Mr.. WAX EFIELD: For State
Road from Blue Earth City to Shell Rock.
By Mr.. ATKINSON For the repeal
of part Of Chapter - Of the Revised
Statutes.
BY Mr.. ;. II. JOHNSON; For State
Road from the Iowa line to Winona.
by Mr., CROSBY To authorize the
city Of st. Paul to issue bonds for street
certificates
BY Mr. TALBOT For a Ferry across
the Mississippi river near the mouth of Sil.
yer Creek.
by Mr.. PECkHAM For State Road
from Cannon Falls to Faribault.
FIRST RgADiyG.
Various Senate bills were put through
their first reading
THIRD READING.
Memorial TO Congress for a donation of
lands for an Agricultural College, was passed
finally, by ayes 80.
Bill for State road from Red Wing to
Albert Lea, was passed finally by ayes "a,
nays B.
Bill for State road from Glencoe 70 s..
Cloud, was passed finally by ayes 30, noes l.
Bill 10 incorporate the town OF Acton,
was passed finally by ayes IS.
Bill TO extend the time OF collecting taxes
in Wright, Sherburne, Stearns and Morri.
son counties, was passed finally, by ayes 81.
THE BAyK BILL.
The bill reported from the committee on
Banks, having been made the special order
OF the day, was taken up. Mr.. WAKEFIELD
in The Chair
Mr.. BALCOMBE moved to amend sec
ton / by making the Bank Comptroller
elective, instead Of an appointed officer, after
the year 1859. He thought the people
should have the power TO elect, as it was
very important Office, and one upon which
depended a great deal the stability of the
banking system. The amendment was
adopted.
Mr.. BEARCE proposed TO amend section
), SO as not to make Banks each liable for
more than $500, for expenses of the Comp
trollers Office. The amendment was not
agreed TO.
Mr.. BRAY moved to amend section {,
by limiting the notes to a denomination of
not less than FIVE dollars.
Mr.. STARKEY opposed the amendment,
on the ground that the small bills of other
States would circulate among Us, and it
would be impossible to pass a law against
small bills that would not be evaded in their
circulation.
Mr.. BRADLEY favored the amendment
so much that he would prefer to vote for no
bills less than $40.
Mr.. DOW was opposed to the amend
ment. lie granted that if all the States
would pass such law, it would have
good effect; but a. long Us they sanctioned
the small bills, we could not afford to issue
only large bills, and let other States send
their money for circulation here. He was
opposed to paper money in..the abstract, but
as the States generally had issued paper
money, We must do so too, and if they have
authorized small bills We must also follow
out the principle. The bank bills are only
held up by confidence in bank stocks, and
/ 100 enes were Just a. good as o tens or 3
iwenties. Let the foundation he good. and
/ the issues of whatever denomination, would
be good
The amendment was lost
Mr.. BEARCE proposed TO amend Sec
ton by making discrimination in favor
OF United States or Minnesota State stocks
50 that they can be received at par
~ <l,La 81 ~
stitution might be violated By this ameud-
ment il Minnesota stocks should sell below
par at New York
Mr.. BEARCE said if this amendment
was introduced there c0uld bc little question
but our State stocks would be always at par
10y thus making demand for them; and
cited the advantage Of this provision in the
New York law. in keeping up New York
stocks
Mr.. DOW thought il was necessary to
give Minnesota stocks par value, and al.
yocatcd the amendment. He was satisfied
that if our stocks were made the basis O.
banking for Minnesota. our stocks would al.
way. Re sought after. and our banks wouli
/ be good He argued that the time hal
come when the West must give value 10 her
. own STOCKS. AMI not allow them TO be gov
( erned 10y the New York market A. our
State required that the State stock should
not be 20 d AZ less than par and upon tbs
principle that w were able to pay these
bond-, II was Necessary 70 carry 0u, tbs
principle, by making laws 10 give them =
preference.
Mr.. KEITH moved an amendment to
strike on, the United States stocks. on the
ground that We we're ,egislating for our owa
State, and not for the United States
Mr. STARkEY said in reply TO Ar
Dow, that he could agree with him If We
could provide by lAw 50 as to govern the
New York mark,t.
Mr., DOW stated that the adoption Of
this principle would forever Prevent them
from ing 10 The New York market
They would remain in the hands Of III.