Saint Paul weekly Minnesotian., 1859-11-05
The Chicago Press & Tribune on - MIN"
nesOtao Railroad and Banking Policy

The Chicago Press & Tribune on IS Min"
nesOta, >, Railroad and Banking Policy.
We give place to an article we find in re-
cent number of the Chicago Press Dc Tribune.
Without endorsing it as whole, we have
interspersed through it, enclosed in brackets,
remark or two on certain portions. Read,
discuss, think, o people of Minnesota!
MINNESOTA government of Minnesota
passes into the possession of the Republicans
on the 1st of January next; and upon them
will be the responsibility of the legislation of
that new and fruitful State. We are afraid
that they will lack the b0ldness and radicalism
[no we won't necessary for using their pow
er wisely. We do not doubt that they will
do much toward repairing the wrongs which
the moccasin Democracy have inflicted;
but that they will have the wisdom and cour-
age to wipe out at once that iniquitous and
thiering railroad system which the Democracy
inaugurat.d, and that they can bring them
selves up to the point where they will be will
ing to put their hands to the throat of that
other swindle banking system, we very
much doubt :" doubts are traitors Like
all other settlers in a new country, they, we
fear, entertain the notion that works of inter-
nal improvement must accompany if they do
not precede population and that banks are
necessarily antecedent to productive and re-
munerative industry-two delusions that have
cost Ohio, Michigan, Indiana, Illinois and
Missouri al least an hundred millions of dol
lars which have been virtually III own IN o
the sea The legislative history of the States
that we have named would be profitable
study for Minnesotians of all parties at this
crisis in their affairs. If they learn from it
that they have made two serious but not fa-
tai mistakes-that, like the fast sons of some
well-to- do parents, they have commenced
where their fathers left off, and have spent
their all in building for children that are not
yet born, we shall be glad. We have been
to school here-we have.
The relation of this city to Minnesota will
be commercially so intimate, that we are, for
economical as we'll as political reasons, spe-
cially anxious that the Republicans there
should not err. Hence they will pardon us if
we tell them.
1st. That Minnesota cannot afford to repu-
date her existing debt, no matter by whom
or for what contracted; and hence provision
should be made for the redemption of her
Railroad Bonds, at aohat they may actually
hacs cost tile holders. One in ten
I'd. That their railroad system is ten, per-
haps twenty, years in advance of the wants
of the State, and that the aid granted by Con-
gress for its completion is a delusion and a
snare. [Too true. They can do nothing with
it better than to stop where they are, pay the
cost of the experiment thus far, and store up
for future use the lessons which experience
has taught.
Sd. That banks that aid the business of any
country are established only upon the surplus
earnings of the people; that where there is
no such surplus, bankers must be borrowers
and cheats rather than lenders and honest
men; that their banks are baseless and fraud
ulent, and that if they attempt to patch up
with new material the system which is rotten
throughout, they will fail and pay round
penalty therefor. Food for thought in this j
Our friends in that quarter will pardon
US for our seeming interference in their affairs
but We so much desire that Minnesota-one
of the healthiest, most fruitful and beautiful
of the States-should get rid of the curses
by which her prosperity is poisoned, and en-
ter upon career Of productive industry, that
we must give this sound advice, even though
it be unasked and perhaps ungraciously re-
ceived.