The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-02-03
In what way the fsi.shoods NJ the ~ "'
nssotiAW Av.et the Negotiation Of state
RAILROAD Gt~ads


In what way the gsi.shoods NJ the ~ NJ
nssotia~ Affect the Negotiable" Of state
Railroad it~sds.
Tho Hastings Ledger has the following
comments upon the duty Of oil good eitixens
OF Minnesota, 10 the present posture OF ouI
railroad sfsirs, and upon the part taken by
the Anti N,nnrsotian in tho matter
That the slang articles Of the Mammalian
and the fslssho0ds Of the correspondents o.
certain papers bad any effect on Wall street
brokers. We look on ~ an absurdity. For
when millions are al stake, capitalists look FOL
more substantial and positive Information thar
tho blae kguardism 81 partilas papers. Tho ar
ticiss published will have q bad effect on emi
grafton for some time, but the day will come,
aud soon too. whea the Just contempt Of the
people NJ Minnesota will eonsigD the authors Ol
these injuries TO the position they deserye, and
truth, always triumphant, place US again on
our march TO prosperity
We were opposed 10 tho loan, but when a
great majority Of tho people voted in favor oil
II. opposition should have ceased, and evsrJ
one who had tho interest Of our Htats At heart
should have given their support to IT, oppo
sition now can have no good effect, but may
have . tendency to inJufs us by keeping many
away who might aid US BY their capital and
influence, II they could bo Induced 10 come "a
Minnesota.
The sentiment expressed in the last para
graph ia that Of the foremost Of those who
led the opposition to the loan movement
Tho ledger, however, il mistaken in it's -
timate Of the effect OF the miTeprtseD,a
tions. however detsstable IN their origin or
their character. upon the capitalists OF Wall
street II is not to be supposed, Of course
that those capitalists attach any credit "a
the statements Of the M,nnssoi,on. or re-
gard It IN authority upon any question o
legislation or the soundness Of the socurtic,
offered. But they very naturally regard
those statements, however ox,ravagant and
unworthy Of belief, coupled, as the New
York Epnng Post observes, with bold
prophecies Of reputation" ~ evidence o
y party existing h;re bent upon the dis
honor Of the State bent upon creating
an impression, abroad at least, that Min
ne1ota maa and will repudiate her eu
gageneuts. The parties to the recent
negotiation, the failure Of which WI
noticed recently, expressed themselves. NJ
We happen to know. Thoroughly confident
Of the ability aud good faith Of MInneso,s
10 redeem her engagements, II called upon Ia
do ~ and IL was from no doubt in their
own minds Of the integrity and resources Of
tho State, that they declined the bonds
But the ledger should know that capital
ists do not take loans 10 the extent OF
$4,000 900, to lock up tho bonds in their
safes, but IN put them IN the market and
distribute them amongst their oorrespon-
dents.
Now it IL among the whole community OF
brokers, who have not tlme to examine into
questions. or have not ready sccess to rcl,a.
BILE information upon the character Of bonds.
that tho poison OF calunny doaa ia work,
Every Misrepresentation for which currency
can by amy means be obtained III New
York, affecting the credit Of the State Of
Minnesota, affects the credl, and value Of
the bonds resting upon its good faith. The
ordinary broker. seeking Investments Tor "a
correspondent. has not time 10 enquire into
the authenticity OF ISLANDERS affecting the
bords lilo does not know To what extent,
" any, this cry OF reputation Is backed 10y
public opinion whether the hrunesn,'an is
~ Il claims 10 be-. the organ Of the Repub-
lican party, or not, in the matter whether
II represents weak or s,rosg party. or any
party Al all. in favor OF repudiat,on 1t is
enough for them tina, tho question OF repudi
alton has been raised ihs, Minnesota paper
boldly advocates reputation bearing the
stamp OF =" Official paper OF the city of 81
Paul. Every buyer he knows full well will
do his utmost TO give tho worst appearance
TO the worst statements. These obvious
causes Of depreciation are intensified in pro
portion 10 the distribution Of the bonds, "a,
they pass farther and farther from the orig.
inAl holders. and farther from reliable sources
Of Information ~ to the real basis Of ~curi
ty upon which they rect Republication is
not an unknown word in Wall street. Cap
italist' there know too we'll what il means
and they will not Gil the orders of their cor
respondents with bonds liable to the insiuu
alton OF such catastrophe and liable con
sequently to all the depreciation which
such suspicion would be sure 10 effect.
Western boundary ~ Ninn.soss.