The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-12-02
PIONEER AND DEMOCRAT Supplement

State specific character the interest thereon
made payable time in the future when it may be
that the State will have the to meet it.
this kind be arrived at with the bondoders
the will be relieved from the awkward position which she
finds herself with reference to these outstanding bonds and
the Loan Amendment" must BE swept from
sence and replaced by new Constitutional Amendment which
shall specify the mode and of the bonds be issued
in lieu of the State Railroad Bonds"
The Railroad Companies were required to all at
endan the engraving and issue of the State Bonds and
called upon for of six hundred dollars
each for that purpose All of this has been paid and apropra
ted for the objects contemplated except hundred dollars still
the Transit Company which has not been received The
insufficient the expenditure and have been
PEELED portion the amount due the State
from Executive Contingent Fund.- for which the Companies
Contingent Fund of the received
from the Railroad Companies is herewith transmitted, vouchers
for each item being file in the Executive office
The Reports of the Auditor and Treasurer will show more par
culary the condition Of the State Treasury The total
Of taxes unpaid ON the LIST of the present mont was
Of the appropriations made by the last Legislature the sum
remains undrawn The amount received during the
600 consists Of taxes old list of the Territory
apparent balance in the Treasury of O4 made
up of bills of deprecated or broken banks.
Report Audit will also contain the details Of oper
system proved than useless and its
modification repeal Experience has demonstrated most
ssass % S exist n to 5
by individuals corporations WILL for the future be regarded as
far xeceed those afforded The greater part of the ccua
ting medium finds its way into the hands OF The merchants who
their creditors is convertible
exchange it fails to subseve the great necessities OF COM
Paper money is the great curse Of the West
entire nation has nearly driven gold and silver out OF crcua
banking system the origin of
the panic and the caames of 1851 has been well said that
appearance always fails when needed and
the suddenness of its flight evidence OF its tendency panic
experience the character of bank promises
to When is the interest of combination OF capital to
without regard the may entaed upon the
nifty Such combinations exist State and should be
ed by them far possible do believe that much
benefit would by from circulation all bank notes
deprecated banks fall generally the or day
M od d f least e sHs IN
named and the of doubtful banks too often osed
them by INSCRIPTIONS men, they have the opportunity
enjoyed by other community for asceranng the
daily fluctuations in this species Of If be
that small convenient answered that it
made unlawful to circulate of less than have specl
fed the would speedily be filled by the introduction OF
the furnished OF less than
dollar sufficient for the of the community Another
strong reason favor OF such proh1on IS 10 De !cunu
fact that notes for large amounts will always be scrumzed with
severity and than those of less denomination Even
would be much than by the OF
small notes of doubtful character from circulation and the conse
quent minuton of the power of individuals corporations to
nct loss upon the community by refusal to receive them at
will.
Indeed would be blessing paper currency could be
re dispensed with and specie used instead thereof The very
that gold silver cannot be procured for bank notes at
their aue proof sufficient that the latter not regarded
as an The reason Is obvious NO matter now wen
bank notes be by the deposit OF with the
uab subject depreciation panic like that of 1851
through the land and the holders notes must suffer pro-
portionate losses.
may be possible present provide for the total excu
of bank from circulation but would be- in udg
wise and sautary recauon to place your statute
making penal circulate
ey any Of a Indicated By do
ing you will have effected much protecting the public against
the extorton and losses to which they subjected
every with joint economy should be
adopted to lessen the burdens of taxation the people,
highly that the Counties should be compelled provide
for puncual the State Treasury OF the amounts
due by them respectively will appear from the Report of the
Auditor that of the due the State for the 1885, consd
erab than onehaf have been paid The
the Treasury issued by the Auditor accordance
with appropriations made by the Legislature have deprecated in
value the loss and of those individuals to
the indebted for salaries other objects 1t has
difficult for the last few MONTHS for holders of these warrants
realize wohds of their value and making
chases of necessary articles for the State payable in warrants
sad-and have doubt truyhat the Teasurer of of
Counties have taken advantage of this state things buy
State warrants at low prices and transfer them the Treas
of the State payment OF DUE the County
themselves realizing handsome from this unustabe
ceedng To this evil still stringent law should be
passed. making penal for County Treasurer other collecting
officer into the State County Treasury other funds
than those actually received by him. the character of which should
specified by law The Territorial statute still in force requires
by the county officers but this provision dsregarded and
should be enforced by and stringent enacmens Unless this
DONE the State will not have the deay her ordinary
expenses
The authorities of Ramsey County have assumed very
warranaby diminish the which State tax
levied oneha of the amount which the basis the
County This evident attempt nuy the clause IN the
Constitution declaring that all taxes shall be uniform and
throughout the State and should be promptly rebuked The
aure should make future action of that kind
subjectng the offender to proper penalties.
recommend the passage OF an act forDddng state
be received in the payment OF taxes Such measure wo %
only the illegal traffic now carried on ny sone %
County officers but these made payaoe at e
Treasury gold and silver their equivalent tney wo
ouire positive value be liable the fluctuations