Socrates Nelson (January 11, 1814 – May 6, 1867) was an American businessman, politician, and pioneer who served one term as a Minnesota State Senator from 1859 to 1861.
He was a general store owner, lumberman, and real estate speculator associated with numerous companies in the insurance and rail industries.
When arriving in Stillwater, he initially built a store and established a mercantile business, which he ran for eleven years.
[30] Nelson entered the lumber business in earnest on February 7, 1851, as one of the corporators of the St. Croix Boom Company organized by the Minnesota Territorial Legislature.
[32] Riding a boom in real estate speculation and soaring land prices, Nelson and Churchill deeded 40 acres (16 ha) of land in January 1857 to St. Paul real estate salesman Robert F. Slaughter, half of which Slaughter deeded in turn to Hilary B.
[37][c] Along with their wives, the four platted the area of nearly 500 lots on June 15, just months before the onset of a worldwide financial crisis known as the Panic of 1857.
[39] Amid a collapsing real estate market and with speculation screeching to a halt, the value of the now-platted and mostly unsold land plummeted to practical worthlessness.
[23] In early April 1867, hoping to spur development and drive demand for nearby lots they owned, Nelson and Elizabeth Churchill offered to sell the city of Stillwater an entire block of land for a token amount of $5 (equivalent to $109 in 2023) with no strings attached for the construction of a courthouse.
[49] In 1854, a stock company consisting of Nelson and others published Stillwater's first newspaper, the St. Croix Union – a Democratic-leaning, weekly periodical which was printed until 1857.
[54][55] When the state of Wisconsin was carved out of the Wisconsin Territory in 1848, some portions of eastern Minnesota (including Stillwater) were not accounted for, and left without representation in Washington, D.C.[56][57] Nelson was one of a seven-person committee that met at the Stillwater convention on August 26, 1848, and gathered sixty-one signatures for a petition to Congress that led to the 1849 establishment of the Minnesota Territory.
[58][59] A group of citizens organized elections for a congressional representative from the Minnesota Territory,[57] held on October 30, 1848.
[61] On October 20, 1849, Nelson was involved with the organization of the Minnesota Democratic Party at a convention held in Saint Paul.
[1] As part of the committee on railroads, Nelson co-authored a report with Lucius K. Stannard on February 4, 1860, recommending the expungement of Article IX Section 10 of the Minnesota Constitution – known as the Loan Amendment.
The amendment was introduced in 1858 to expedite the development of railway infrastructure and authorized a total of up to $5 million (equivalent to $169,600,000 in 2023) in loans for railroad companies.
[78] Reiner won the election held on November 6, 1860, defeating Nelson as part of a string of legislative gains for Minnesota's Republican Party.
[94] A plaque on the north portico of the Washington County Historic Courthouse commemorates the date when Nelson and Churchill sold the block of land for its construction.