. A half century of Minnesota as territory and state; a concise account of the principal events in the period of discovery, exploration, and settlement, and during the half century of territorial and state government . , in the case of Minne-sota, proved to be the most serious panicsince the organization of the state, but inproportion to the population and commer-cial interests involved, it was not as seriousas the panic of 1857. Its effects were feltprincipally in the larger cities where manyfinancial institutions, especially those re-lying upon real estate values for their foun-dations, were
. A half century of Minnesota as territory and state; a concise account of the principal events in the period of discovery, exploration, and settlement, and during the half century of territorial and state government . , in the case of Minne-sota, proved to be the most serious panicsince the organization of the state, but inproportion to the population and commer-cial interests involved, it was not as seriousas the panic of 1857. Its effects were feltprincipally in the larger cities where manyfinancial institutions, especially those re-lying upon real estate values for their foun-dations, were forced to bankruptcy. The cost of about $275,000. Its inadequacy tothe needs of the state became apparentwithin a few years, and in 1893 the legis-lature created a capitol commissioncharged with the erection of a more per-manent building, to cost $2,000,000. Thecornerstone of the new capitol was laid onJuly 27th, 1898, by the venerable GovernorRamsey. The building is of white Geor-gia marble, and is under contract for com-pletion by July ist, 1900. It will be one ofthe handsomest, though by no means themost costly of state capitols. Minnesota m the Spanish War of 1898. The response of the state to the call for. MINNESOTA HI AT IllK FAIH I 1-^ conditions brought to light the operationsof careless and even criminal financiers;but Minnesota suffered no more from suchrevelations than other and older states. Inthe rural communities of the state the de-pression was much less marked than inthe cities. Some districts experiencedpractically no inconvenience from the gen-eral stringency. Minnesotas New Capitol. After the destruction of the original cap-itol building in 1881, the legislature heldtwo sessions in the St. Paul market houseand in occupied the second capitol,which had been rushed to completion at a volunteers for the war with Spain in 1898was as prompt as in 1861 when Lincolnasked for soldiers to put down the rebel-lion. Minnesota was again first to of
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