The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-02-25

The Issues ~ state scrip.
Conceiving that this measure is one in
which We are all Immediately interested,
both a. citizens and individuals we desire
to examine into its expediency, safety and
availability.
And first as to its expediency or necessity
Like all new States, Minnesota comes to the
gates Of the Federal Union without the i'm
mediate means for cancelling the obligations
she necessarily incurs in providing for and
arranging her State organization. Her
Convention TO frame State Constitution
cost some 100000 her Extra Session las,
spring her appropriation to recover the cap
tive females Of the isK.PA.Du-rAH outrage
~ well rs other expenses incidental TO her
Territorial affairs, together placed her a
debtor to the amount Of $4,000 in all. at
the time the present Legislature assembled,
which, from the unforeseen character of the
expenditure, could not have been provided
for In the assessments for 1856 for let it
be kept in mind that the assessments Of 1856
only reach the Treasury in February, 1857,
at the soonest. and that the entire tax Of
1857 is still, with small exception, in the
hands Of the counties. In addition TO this
State debt, II was requisite that some inn
mediate provision should be made for the
current expenses Of the government, and the
issue Of State bonds, TO the amount OF at
least 100000! was imperatively demanded
on the instant But difficulties surrounded
the Legislature in this step A minority,
but still powerful party in the Legislature,
had, for political reasons, protested against
oil assumption Of State power by Minneso.
Ia during her transitory condition. refusing
to recognize her Territorial officers in a State
capacity, and denying her the right of legis.
lation (; and the political manGuvring Of
partisans at Washington also raised the
question Of our State rights, while refusing
TO consider our claims TO admission ; thus
virtually denying w the maintenance and
protection due to Territory, and gainsaying
our rights as State. In this questionable
attitude. in which we might remain for sew.
eral months and while the political questions
Of the day attracted the attention of the
nation to our embarrassing position, was it
prudent or advisable to approach capitalists
in the Fast, still shivering in the panic, with
the bonds Of the State
Besides, il il well known that portion
of our own citizens were striving TO entan-
gle the provisions Of banking act
with the issue Of State bonds, and the ne
ccssities Of the State might be used 10 force
upon our people an odious banking act Al
ready large amount Of Territorial war
rants had passed into the hands of capital.
ISIS and from the character Of the issue, no
option was lcit to the needy recipient but to
sell them to moneyed men at fearful dis
count A circulating medium had failed
us too. or was oi such a character as would
not be tolerated in any community but by
the suiierance of necessity. The notes OF
broken banks, rvivified hy endorsements,
were last suppauting the issues Of suspend
Ell institutions. which had, in their day.
driven out our specie. And debts were
s,in incurred, and bargains were made, and
settlements were urged, and men were re-
sponsibe, nay rich but the medium of ex-
change. the representation OF value, was
gone In this emergency, how simple and
natural it seems that the croitors of the
State should desire their warrants TO be is
sued in small denominations, which they
might transfer IN payment Of their debts,
and with what justice could the State refuse
TO allow rate Of interest bu, little more
than she would authorize on her bonds. and
only onethird As great as the prevailing
rates in Minnesota. This Is the whole mea-
sure which authorizes the issue Of a" State
scrip, 81 called. but which are 10 fact State
warrants OF the same character a. she has
always issued, with the diiErnr Of the leo
tur Of interest.
Next le, US consider ,hir safety and
availability. Ire amount to be issued. &C.
cording to the estimates made Of expudi-
turcs until our bonds are sold. cannot exceed
$4,000. The act providing for the loan