Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1859-07-16


'iews on topic Of common interest, and all
and present disparity of views
we're buried in the desire for light on the all
Ibsmbing question, How shall we extricate
ourselves from our financial troubles :?
reported by Our Own Reporter. -
between the Committee OF
Citizens and We s'Governor."
Yesterday morning the committee Of citi-
sens appointed at the anti-wild-cat meetingof
the merchants and business men on Saturday
evening last, to wait on the Governor" and
Auditor of State, and request them to issue
no more Rail Road currency, or bonds until
The next meeting of the Legislature, met and
proceeded in body to the Executive Chamber.
They were received in deferential manner
by the incumbent of the Gubernatorial chair,
and the object of their mission stated by the
chairman, DIR. Day, in respectful language.
Mr.. Sibley received the request with cour-
teous respect, and entered into conversation
with the committee in regard to the matters
presented by them. He said he was glad and
willing always to hear any expression of pop
ular opinion, and the voice Of the people, and
would give kindly attention to it, as his sta
ton required yielding to the will of the ma
jority. He would take the requests and pro-
tests of the gentlemen representing the meeting
of the citizens under consideration, and see
what course he could pursue in the present
emergency, to satisfaction their expectations.
The rigid requirements of the law compelling
HIM to issue bonds when the conditions had
been absolutely fulfilled, left him but little
discretion; yet he would do what he could in
the premises, to bend his official acts in those
matters, in the direction asked by the com,
mittee. 1u regard to the Issue Of currency
upon the Railroad State Bonds, Mr.. Sibley
said that there was some misconception as to
his powers and duties in this respect. His
power as to the securities received for cur
rency, was merely advisory It belonged to
the Auditor to say what was sufficient; and
it was only in case of his being In doubt, and
calling upon him for his opinion, that he could
interfere.
The committee then took their leave and
proceeded to the Office of the Auditor of State
where they met courteous reception, and
stated the objects of their visit.
The Committee represented to Mr. Dunbar
the difficulties under which the Business Men
and people labor generally, in having so much
l RI tod md al,
thrown on their hands, which will not circu-
late even at homo, is unconvertible, and found
ed on stocks believed with good reasons to
possess no market value, and the stockholders
Of which are unknown to the people, even if
responsible. And requested him, on behalf
of the citizens they represented, 70 issue no
more such currency on railroad bonds until
the next meeting of the Legislature could
make proper provisions 10 remedy the straits
we are in, as this course would give more
value to that now Ia the peoples. hands.
Mr.. Dunbar replied, he could not tell now
who were the stockholders in the various
Banks, but the July reports would be pub
lished in a few days: ispme, be showed to
them.) He said many Misrepresentation
had been made about his action, &c. He had
only one assistant and one clerk, and they
were not signing any more currency now
nor orders had been received recently-nc
bills were awaiting signing.
He said he had no notice Of one or two
hundred thousand dollars of blank bills lying
in the Express Office soon to be issued. Only
; asmal amount of currency had been ISSUED
since the report recently published in the
Pioneer, and that amount on the Lacrosse anc
LaCrescent Bank, Bank of Chatfeld and Bank
of Red Wing. The Goodhue County had only
deposited $11 900 in bonds and had not We,
received any currency,
AS to the bonds, he believed from good
sources that they were worth what he receiv
ed them for. He said he had confidence in
the Bonds and he believed if either one Of
the present discredted Banks were wound up
that the Bonds would sell for sufficient to
redeem the bank notes in the hands of the
bill holders and that he had personal knowledge
of sales at 50 cents in cash -Syet ION being
questioned, could give no positive incident for
his faith.) He was obliged to believe the
bona tide oatas of the men depositing them,
if there were no rom to discredit their afr
davits, and thatfhe people could not certain.
ly require 81 him to violate law, because he
had no discretion when parties fulfilled the
requirements of banking law honestly, as he
was bound to believe.
On being asked whether he would allow
Banks founded on other than the seven per
cents to withdraw their stocks and substitute
the railroad bonds, he replied unequivocally,
he aoouM not; and explained that though the
railroad bonds were good, the others were
better and he would hold to the best stocks.
(That is distinction with difference.)
He said that he would take any petitions
that might be sent to him under considera.
ton, and give the voice of the signer's due
weight. The Committee then withdrew.
| Anti-Wild Cat Meeting.
The adjourned meeting of the merchants,
business men and taxpayers of St. Paul to