The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-06-09

The " hale Of SeorNAetOu-A UOmoeheu
In the Camp Of the DsOkeu and Crosk-
ers.
T. he k,iltr. 1T tho Pioneer Democrat.
Why arc our business men troubled In
making their exchanges, and why the panic
about Minnesota money! Brokers and
Croakcrs say because il il bogus and not
good 1t Is secured by Minnesota bonds
so this Objection. reduced to plain English,
means that Minnesota is not good for her
obligations.
The East hearing any considerable pors
ton of the State say this Of course aiscrcd.
i,s the Minnesota money secured by these
obligations. For II man, or act OF mcn
make u note aud tell people II ~o'nt be paid.
no prudent man will attach any more
value TO IL than the maker himself does
and il ia refused. There are considerable
number Of men In 81 Paul and other por-
,ions Of tbs State, who after putting out
obligations 10 tho shape Of Minnesota bonds,
flor these bonds are your bonds and'my
bonds aud the bonds OF every citizen Of
Minnesota In their collective capacity pub
lish In the papers, write letters TO the I''b-
nue. and Jous TmoxrsoS. blsther II out on
the streets, tell their depositors aud custo-
mers that their ora bonds are not good and
'front.' be paid Under such circumstances
II would bc q miracle il they should For
II We discredit our own notes, everybody
else will do the same.
n we ourselves say Il Is not good, no ono
else has right 10 believe Il good. When
we put our first bonds out, the east took
them at q splendid premium. For there
were no brokers and croakcrs then 10 send
along with the bond, the dolciul whine that
they were not good and would not bc paid.
But when the next bonds were issued, cor.
tain gentlemen brokers were anxious 10 get
Ink in this, they raised u hue and cry against
them and IN favor OF their issue. But fail
them which has tpsn kept up ever since by
u suhsidised press, u few fellow brokers Of
the wall Of starvation school, aud some
honest bu, misguided men, who take dys'
pcp,ic views 81 things, and argue as u The
State would be- no more able in twenty-five
years to pay $4,000 900 u il had To- than
| IL is now.
These same gentlemen, TO make good
their predictions aud wesr the hopors Of
prophets, and the profits Of shaving, are
now using oil their power TO cripple and
drive 10 the wall the Bank Of Glencoe, hoping
when one stone falls from the arch. TO gc
general tumble. They are we'll aware that
tbs beat banxy in Illinois, Wisconsin. aud
the whole east, il hunted and run on by the
systematic doggiog they have applied to
Glencoe, could not pay gold, bat must go
into liquidation. Glencoe has simply shut
down on these gentlemen, apd intends taking
tho forty days allowed before she grs.ifies
them with the gold. hoping to end their bar
raising system Of running by making them
wait and lose their interest.
Now IN this fight between the Whales
Of Starvation and those who have issued
money On the bonds Of Minnesota, where
sLoald our merchants standi Shall ten
money sbaycry ruin the credit Of Minnesota,
and bring her money down 10 10 cents on
the 81 90 tss the Chief Whale prcdicts).
Tbs Brokers themselves even admit that
II the people we're unanimous 10 circulating
our money il would he taken In payment Ct
debts aud oil difficulty would be over.
Why ARE they not unanimous simply
because the Brokers and Croskers hang back
and carry plumber VI the people with them.
LIT every true Minpeso,ian take the money
aud simply replace firmly 10 the arch OF our
financial sy.t,n, tbs grand key stone conf
dense aud We will 70 "a 10 lew days ~
usual.
EDWARD Eygngrr, in the Mount Vernon
papers. says the great cause Of the crash OF
! ISL was tba, payment was demanded from
M indebted people and Q run made on every
body. n any power could have stopped the
run. aud induced people 10 Jortear, kssPeool,
wait n little longer. and not crowd and push
"a croakers now propose 10 do Glencoe,
millions n dollars would have been saved
the country. and only the really rotten crafts
would have gone down. let the Merchants
~ 81. Paul learn y lesson from this and take
our mooey-o,berwic Minnesota Is on the
eve Of another crash, for there 10 nothing
else 10 pay with, and refusing our own
money amounts "a closing our doors, and