Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1859-04-15
Minnesota 50 DevelOplngN her Resources.
-.hep Late lssues Of Honey.

OF all the rotten, irrcdeemablc and
insecure trash that was ever palmed off
upon q gullible community in the
shape and under the name Of Money,
that which comes from the infant state
Of Minnesota caps the climax, and is
if possible, worse and more rotten than
the "precious" local currency which
we kicked out of existence something
like year since.
The state of Minnesota is anxious and
determined to inauguratc new state
Of ahairs-in other words to "devcl-
op" her resources; to make money
plenty when she has no actual capital;
to build railroads all over and through
the state when there is no call for them,
and many other foolish and bankrupt
ing operation too numerous to men
ton.
But the Banking game is the latest
and most corrupt Of all, and will un-
less checked immediately, cause that
state more trouble and financial disas-
tire than it can recover from in ten
years. Let those Of our business men
who receive that money here, read and
ponder over the following extract from
letter written by a gentleman in
Minnesota to the New York Post
This currency will be sure to burn ev-
erybody that holds it; and those who
utterly refuse to handle the trash, will
come out harmless. We have had a
full share Of wildcat trash but VIC
have done with it now, hcnceforth and
forever.
But to the letter
III hardly know what to say Of the
financial prospects of Minnesota. That
with all the rest Of mankind f" we
have been most inconvcnicntly short
or, in other words, "hard up" in mon
ey matters for the past year and halt.
rs fact already understood the world
over. But while other States are re-
covering from the revulsion of 57,and
are exhibiting many signs Of renewed
prosperity by the revival Of legitimate
trade and business, Minnesota is pur-
suing widely different course, hoping
no doubt to hasten the return of that
golden period Of two or three Years
since, without waiting the slow and reg
ular course Of other aud older COM
munities. At first they expected to Sc
cure such result by the railroad poll
cy adopted . year ago the coming
month. In this, however, they have
become satisfied they were IN error =
but nowise discouraged by one unsuc-
cessfnl experiment. they have resorted
70 another, which, to many minds, is
sure to succeed, and this policy is q
new and general banking system.-
When, therefore, the railroad compa-
mica OF this State, disappointed 10 ne
gotiating their bonds in New York. an
nounced their intention of converting
them 'nte currency, new hope sprung
up IN tho hearts Of our people, and
they are quite sanguine that what was
worthless in Wall street Yesterday
may be converted into . safe and ,ound
currency to-day. To be sure our bus
meas men look with fear and distrust
upon the measure, and urge some ugly
reasons against such policy and chr.
rency. First, they say that our hank.
ing law, which By constitutio..i nr ~";
sion must receive . two-third vote os
the legislature, was amended for The
express purpose Of admitting thesc
bonds = . banking basin, By : vote 81
only thirty-6ve in . house Of EIGHT,
Anenbefs-not > maiority Of the mem.
ban elected even saying nothing abou,
he tvo-tAid col1f ifnt;onal reouire..
sDsat-asdth sselsse H. whole thins
Illegal. Msasussh ~ nov beins
tekea = beiae, III poilt before yhs
6oDeeme Cent n adjadioafioa a.
16q12 Gpln1ooal usa lhese ! bul
90 aoniea = - 80 The result III
- ~ - that ~ Z amDndoaal
N - 1eolaso1 unooosGionoi -, ~
eGlial 4 = iaeiu1od 81 ~ that
~ 1ae A. oAseeDA