The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1861-01-11

exhaustive, OF the lab0rS and accomplish
ments for US, of the year that has just closed.
1t explains and justifes the renewed conf
deace and increasing energy and business
activity, which, prior to the late and now
passing events of political insubordination,
began to be felt throughout the community.
1 believe we have every reason to antici-
pate continuance of growth in prosperity,
if the various department of government,
in legislation and administration, as we'll as
the people in individual effort, bear ever in
mind the bright future, the glorious destiny
of our State, easy of accomplishment, if not
inevitable, while acting always with due
regard to the present narrower and more
straitened circumstances of the Common.
wealth. We may confidently, within the
next decade, expect to equal, if not surpass,
the increase in population of any other
state in the corresponding period of its his.
tory. We lack no inducement which they
could afford to encourage settlement. In
deed, we claim advantages over any other,
the most favored. Let US be liberal and
comprehensive in our designs, as becomes
our expected development, but prudent and
economical in administration, as COMFORTS
with our existing condition. e a"
The Reports of the Auditor and Treasu-
rer will be laid before you, from which our
financial condition will be evident. The
receipts Of the Treasury from all sources,
from the first of December, 1859, to the
first of January, 1861, were as follows /: IN
Balance in Treasury. ..........S LOLA 16
From tax of 1852. ............... los, l26 60
From tax of previous years.. 49,. 8,475 u
From United States Treasury (by
appropriation ................. 24,S05 %
From United States Treasury Give
per cent fund.- ......... 81 so
From grass on school lands solo,. 10 90
AOtdl. ....... ..s.S l0S, oZZ 6Z
During the same period the total dis
bursements were as follows:
Scrip cancelled and returned to Au-
dlt0r NEUTRALITY-SUSPICIOUS.. .$l3S, O54 80
Discount on deprecated Minnesota
currency returned to Auditor. -. 795 As
Total $780,. ............$ l3S.S46 "a
Balance on hand January LIST 1861. s675 IS
The Federal Congress, by an act ap-
proved June l6, 1860, appropriated to the
State of Minnesota, so much as then re-
manned undrawn of former appropriation
of $4,000, made March 8, 1856, to defray
the expenses of the Territorial Legislature.
The amount received from the United States
treasury by virtue of this appropriation,
which was, under the circumstances, clearly
just and due to the state, was $24,805 o..
With this were paid the warrants issued in
payment of the interest due in January and
July, 1860, on the Minnesota eight per
cent. bonds, and als) territorial bonds is
sued by Gov. Medary, under the act of the
23d Of May, 1857, $500 of which and in.
terest, l discovered after the adjournment
of the Legislature, to my great surprise
were still extant. These bonds bore interest
at the rate of twenty per cent. per annum,
and were due two years from date. As they
had been long over due, the question of the
interest to be paid after maturity, presented
itself in this case whether the state should
continue to pay the same interest after due
as before, or avail herself of the decision of
her highest court which determines, that
between individuals on the breach of the
contract to pay at maturity, interest tech.
nically so called, ceases, and damages for
the detention of the money are to be as
sessed at per cent. per annum.
That decision is declaratory of the exist.
ing law, and it seemed that payment by
the Executive Department of the undated
rate of interest, without an act of the Legis-
lature, would be payment against law as
declared on the highest authority. Accord
ingly the Treasurer paid only the amount
found due according to the rule established
by the decision just referred to-. Although
advising this at the time, as the only proper
course for public officer, 1 submit to your
favorable consideration the question of ap.
propriating further sum to Mr.. English,
equivalent to the balance unpaid, computing
interest and damages alike at twenty per
cent. per annum.
The floating debt of the State may be
stated as follows, including warrants issued
in payment of the interest due, January LIST,
1861, on the 8 per cent. loan:
Outstanding warrants. ............ ISL, 3l4 Al
Indebtedness for which warrants are
not yet issued, about. 5000 90
$59.3l4 A
The floating debt due January LIST, 1860,
was then estimated by me at $4,000; a
more particular calculation by the Treasu-
rer has found the amount to have been some>
what over $85, 900. From this it appears
that the floating debt has been reduced
within twelvemonth by the sum Of
$4,000.