Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1859-10-29
Currency Meeting in Minneapolis heA.
alive TO the Conduct OF the state Au'

Currency Meeting in Minneapolis, Hei-
alive 70 the Conduct OF the s'a'e A"-
ditOr.
We have been requested give place to the omcial
COPY of the proceedings of q popular meeting at Min
neapolis relative to currency matters and AudiSoi
Dunbar.
AT meeting of the business men ana
other citizens of Minneapolis held at Fletchers
Hall, on Monday evening, Oct. Oath, the ioi-
lowing preamble and resolution were present.
ed by committe of seven (appointed al
former meeting) and after discussion were
adopted, seriatim.
WHEREAS, VIM. F. Dunbar, our State Au-
ditor has suffered the removal of the stocks
of the State of Ohio, deposited with MN a. as
the basis of the circulation of the BANK OF nt
Paul and the substitution therefor OF the
Minnesota State r. R. Bonds, thus deprecia
ting the value of the notes of the SAID BANK
and. whereas, the liability to like subsutu
ton in the case of every bank established
under our law, has rendered our Minnesota
money worthless for purposes even OF home
business, therefore, ~.
Resozred That we consider such substtu-
ton by the Auditor, gross outrage upon the
public faith reposed by the citizens OF TINS
State in that office.
Resolred, That in addition to his breach OF
, public trust, he has shown by his disregard
. of his personal promise made to committee
of citizens of st. Paul, an utter unhtness lor
his responsible office.
Hesolued, That in his published caro-, the
D Auditor has wisely abstained from any al
e tempt at a personal defence OF ms course,
and that in his effort to prove the personal
Il securities of the Bank of st. Paul equal to
those before the substitution he has slgnahy
e failed.
s Resolped, That the personal securities set
forth by the Auditor in his published state
y ment have no pertinency in his defence, as
IS these were unchanged by the exchange OF the
public stocks. ~
a Resolved, Tint it is well known that MIN
nesota State T.. r. Bonds have been sold al
auction within the past six months within oul
own State and in the New York market a,
from Is to 80 cents on the dollar, and no spe
cious statements can delude us into the belle
that $4,000 of such stocks are equal II
Is value to $4,000 of Ohio State stocks re
moved.
Resolced, That in accepting $4,000
a Minnesota State r. r. Bonds, as the security
for $4,000 of circulation Cf not for quar-
ter amount) the Auditor has set his Valuation
u upon said stocks, and he has been guilty
derecton of duty in not demanding OF tn
other banks established upon similar stocks
os proportional increase OF the stocks de
posted.
Resolped, That if the Auditor consented t
Is this substitution of securities, corruptly, as
generally believed, then our legislature shou'
give his case prompt attention if his actor
has been in good faith, as he CLAIMS then n
:, rroeel,, ;ncomnctent for his position an
IL ought to resign.
l3 Resolced, That Governor Sibley, if not cog
infant of the substitution made by the Audi
v. tor, has certainly shown cGlpable negligence
p of the interests of the people OF this State
80 as the general Banking Act undoubtedly give
lS- him sufficient jurisdiction to have controlle
4, the action of the Auditor, or to have expose
7, his official misconduct
On motion the following resolution, alst
is was adopted by the meeting.
X, Resol0ed, That while we deplore the a.:
honesty or incompetency Of our State OIL
Gals, having charge of the Bank Department
H. we cannot but strongly condemn the actlo
II, of certain bankers who while they wage a
unmitigating warfage against all legitina
N banking institutions, are at the same tine ei
~ Gagged in throwing out upon the public worti
less so called "currency" secured, IN real
Or, t>, only by the doubtful promise OF those Il
whose benefit it is issued, thus violating bot
the letter and the spirit of the law.
On motion,
va, Resolced, That these Resolutions be pu
,y- lished in the papers OF Minneapolis, ST. Al
an thony and St. Paul
III u. THOMAS, Secretary.