The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1858-03-20
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: Advertiser ON the Loan

S Why don't our prophetic friend from the
Plains Of the Saskatchewan cover up his
tracks little better, or else do things at
once in his own name 1? The leader in Sat
urday's Ad0ertiser sounds wondrously like
the roar of Saskatchewan, for nobody else
but him would say Of the loan-"Ihese corpo-
rations could do very aoeu ,Uuhout it, but the
State cannot do aoithout it,"
Seriously Saskatchewan, that is the best
joke of the season The Companies do not
want this money, but the State will be ruined
if, it does not, involve itself in an actual debt
of fOe millions, and a contingent debt, in the
shape of S35O,0OO a year for twenty years, or
seuen millions and a half of dolars-making
the round debt of TWELVE AND HALF MI.
LION OF DOLLARS. ..e
1t must be remembered, that this is an
nOunced with all seriousness in leader of
column and a half-this same idea pervading
the whole article.
The idea is not novel one, but the open
announcement is new. The idea we say is
not novel-it is the substance of the loan ar
ticles-the theory of the friends of the loan
bill-that no State can prosper, unless heavi-
ly involved in debt. Wise Saskatchewan
True political economist! You did not
aace the imagination to paint" what it meant
"to sag Of Minnesota, that she is on the EVE OF
RETRoGREssIoN." No Saskatchewan, you
have spoken it, though you did not intend
to
God knows that, if she is on the point of
approving this Loan Bill, she is surely enough
on the "ece Of retrogession." And it does
not require the powers Of prophecy even of
our amiable friend Saskatchewan to forsee
and foretell that. But our friend has grown
wild. He says in another paragraph:
If five million dollars absolutely sunk in the exper;-
ment could purchase the immigration of the present
sum directly expended by the State at its
cost could have the effect to neutaze the
which have been organized to prevent emigration to
Minnesota-it would be worth twenty five millions to
the State in one year."
We are as anxious for immigration and
labor as zealously to attract it hither as our
friend or any other press in the Territory !;
but we will frankly say, that we would not
be willing to see the State involve itself in
debt of Twenty-Five Millions for the whole in
crease-over what we will have, if we are
prudent and shun the creation of State debts
though it were as large as ever poured into
any Western State, in t,cice twelve months.
Our ideas of political economy differ most
essentially from the .4doertiser's leader of last
week; and we may here repeat, what we
have before taken occasion to say that, of all
other causes put together, that which will most
deter the very best kind of immigration
that kind which gives stability, wealth and
prosperity to the State where it settles-is
tie creation ola large public debt.
This will deter the very best classes of i'm
migration forever from our borders. There
fore, fellow citizens, look to it! Do not be
trickcd into your own ruin, as we'll as the
ruin ofthe State, by creating an onerous pub
lie debt! Take our advice, and immigration
will pour in rapidly enouge for healthful in.
crease This is all the friends of the State
Can wish