The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-01-21

A bill providing for laying out the Can
non Falls and St. Paul road
House bill authorizing the County Com
missioners OF Wabashaw county to borrow
money for tho purpose Of erecting county
buildings;
A bill authorizing the inhabitants Of Far
ibault county to hold an election for the To-
cation Of a County Seat;
Memorial to Congress in relation to the
public lands;
A bill to locate State Road from Browns.
vile to Winnebago City, in Faribaut co.
A memorial for an increase Of mail ser
vice on mail route No. l3848;
bill authorizing the Register Of Deeds
OF Chisago county To transeribe DEEDS from
the office Of Register Of Deeds OF the county
OF Washington;
A bill for the relief Of the creditors Of
the State, was read third time
Mr.. NORTON made lengthy speech in
opposition 10 the passage Of the bill, and
cited an instance of similar character oc-
curing in the State Of Missouri, against
which the Supreme Court had rendered a
decision
Mr.. COWAN, in reply, said: propose,
Mr. President, to examine the authority
cited by the gentleman from Winona. in this
mission case with reference to its appIica.
blllty TO the bill new pending before the Sen.
ate.
The decision was given in the Supreme
Court OF the United States, in the case of
CRAIG. ct al, vs.. The State of Missouri,
wherein the question of that State having
emitted bills Of credit, contrary to the nhib.
ltion Of the constitution, wus deliberately
discussed, and the decision OF the Chief JUS
tlce MARSHALL was had, declaring her is
sues TO be illegal as sach.
The State Of Missouri, during the financial
crisis Of 1921, had passed an act providing
for an issues Of the State, to be loaned TO the
citizens OF each county therein, according to
the number OF tax payers in such districts,
&c.
tMr. COWAN here read different sec.
tons OF the act, showing that Loan Offices
were then created, and that these Missouri
certificates were intended to be loans of the
credit OF the State, to individuals, as an ex-
pedient to postpone the actual payment OF
tixes and further, that the act of issue
pronounced them legal tender, not only in
payment OF debts due to the State. but also
for the OUTLAWS Of the State to her officers,
&c.)
Now, Mr. President these Missouri Ger
tificates were not evidence of debt against
the State of Missouri, they were not ac-
acknowledgements Of services rendered. they
were not bonds for money loaned TO the
state they were, en- the contrary, most clear
y ana emphatically issues or emissions" of
the credit OF Missouri, TO her individual citi
Dcns, and as such, came in rigid construction
within the provisions of Art. Sec. 10 of
the constitution, which provides that no
State shall coin money nor emit bills of
credit.
also perceive that Chief Justice MAR
SHALL takes ultra grounds on this subject,
and contends that IF the prohibition in the
constitution OF the United States means any
thing. 1t must comprehend the emission Of
any paper medium by a State government.
Tor the purpose Of common circulation
How FAR We may agree with Judge Mar
shall in this view is not pertinent to the ex.
animation Of the bill but We may be al
lowed TO state that the entire bench of As.
socia,e Justices dissented from the opinion
OF the Chief Justices in this matter.
But allowing the argument Of the Senator
supported by this decision, 10 prevail, and
admit that 10 power remains 10 the States
to issue paper medium which may be used
IN common circulation, and will not the
Barking act authorized by the Constitution.
aud the issue OF State Bonds which the gen
'Ieman 80 warmly advocates. more elTtc,ual-
ly fall beneath the test he would establish?
Ian we deny that under this test the gen
eraI Banking laws Of New York, Of Hi.
nols Of Michigan, aud OF Minnesota in her
proposed Banking projects brings in direct
conflict the act OF the State with the inhi-
billions Of the Constitution?
II the right to issue paper currency is de
MED to the State. how can We delegate the
inhibited power TO individual citizens or
corporations! We are equally prohibited
from coming money, and can it be claimed
that this State Legislature NAV grant the
right of establishing mint? The emission
OF Bank notes To rculate as money under
the justly auded system Of stock securities
sought TO be adopted here, bears, in every
case, the ear marks of the State-are coun-
tersigned and issued by the Comptroller or
Treasurer, and carry on their face the image
and superscription oftheir parentage Sir,
you may pileup the securities of stocks and
bonds dd rafnR,Ha but they are no less
unfeJ thus tst. 81 Bills Of Credit emitted by
the States. So with the proposed issue OF
bords. Can W. ask capitalists TO advance
quarter Of million Of dollars, or any 9th
or sum, 10 our State, and declare with phari.
saical scruples, that We can grant no ac-
knovdgement Of the debt, because for.ooth
such bonds, coupons, or acknow ledgmen,s,
would be bills OF the State credit prohibit
I'd by the Constitution Most assuredly
not
Judge johnson, dissenting from this de-
cision Of Chief Justice Marshall, ssys. sup
pose State enacts law authorizing her
. a L.. , "a Il.