Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1850-03-20
C,xt1xxArl CORRESPONDENTS.
CINCINNATI. Saturday cvening.\
MARCH, loth, 1850.

| GENTLEMEN,-1he approach OF the
(. busy season. together with the very fine
weather tina, has prevailed most of the
present week has caused good deal OF
activity in most branches Of business
notwithstanding the still universal ou,cry
of the scarcity or Brightness" in the
money market. That this outcrv is not
altogether matter OF habit jus; now is
proved by the fact tia, per. CT, month
IS the iotcest outdoor rates for the hes, Of
paper. and and even 1 per. CT a month
Is daily received by certain class of
Shvlccks. who are in the habit Of holding
themselves in Readiness 10 prey upon the
necessities Of the people. Relieving tina,
legal rate OF interest of 10 per ct. per
anHum. would have a tendency 10 make
money more plenty by inducing capital
from distance 10 seek investment here.
our Merchants have generally united in
their endeasor 10 have a law passed this
winter 10 that effect This bin has pass
cd the Senate and there is but little doub,
that it viii pass the House in few DAYS.
TO take effect on the lst Of May This
bill. understand. not only allows 10 per
cent interest, where such was the contract.
10 be collected I'LL Judgment is obtained.
but il allows the same rate until the debt
is pad The same bill learn, also al
lows such banks or brokers as choose IL
comply with the law. TO issue their own
notes 10 an equal amount with. whatever
State stock they may deposite with the
State auditor. The wan, Of banking
capital has long been felt in this city, but
how far the evil can be safely remedied
by this plan remains to be seen. The
city is becoming filed with private
'banks,' every one OF which start out
with the known purpose of doing an ille-
gal business entirely. if they 50 openly
commence a business in defiance Of law
il is not to be expected they viii be over
scrupulous IN conforming 10 law III con
Quoting il. If any of these should pro-
ducc the requisite amount Of State stock
10 commence the issue of their own notes
under the law, what security can there be
gwen that such notes issued will no, far
exceed the amount Of stock deposiicd'-
This is the creates, danger that occurs 10
me in the very imperfect knowledge |
possess of the framing OF the law.
The difficulties in obtaining the right OF
way for the Hamilton railroad. inter
csting TO your city. seem 10 increase as
the time approaches for the commence
mcnt Of operations. IN Injunction has
been granted agains, building the road
through the lands of the Spring Grove
Cemetery. and also through the al DINING
land Of llau Evans This with the I'm
fiyorabln turn the decision of tie jury IN
finding Gen. Price insane has taken, will /
it is feared. postpone the work for time.
and If q change Of location cannot be /
agreed upon it may be defeated altogeth
or. At present. the prospect is anything
but ilattcrng. You at a distance, can
hardly imagine the extent of this difficulty
although the prevailing sentiment here, is
without exception, in favor Of the work,
yet the injury that would be done 10
Price and others, and the business of their
complaint is felt and admitted with equal
unauimty. sale that took place this
week Of lots on the Luckey farm, ives, OF
NH creek. where lots 100 fee, deep sold
as high as twenty one dollars and seven.
convince the community that these land
holders are scarce too high in their claims.
rs an instance Of the difference of opin-
ion in regard to the amount Of damage
between the different parties. it may be
mentioned that Gen. Price claims seven
tv-five thousand dollars damages, while
the company assess them at twenty five
hundred dollars. The General thinks
very justly that it is no trifiing matter, af
ter man has spent lifetime in getting
his premises fixed TO his notions Of taste,
convenience and utility, that the public
should thus unccremoniously encroach
upon bis sovereignty" and GA up, waste
and destroy such premises, without his
consent, al their own pleasure. This
Gen. Price is brother-in law to John 4.
Matson. Esq. 50 well and favorably
known to all Hoosier1om. Mr.. Matson
has been appointed his guardian and will
no doubt sec that''private property shall
not be taken for public purposes, without
fair compensation" in this case.
Our city has this week been visited by
two lalios, by no means unknown to fame.
Mrs .1.ts~helm, the talented and very
popular cA.tress Of the pittsburgh Satur-