New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-10

obliged 70 nave large tuuis ia """~ "
liabilities; some Of them holding large amounts on de-
posit for distant bankers and dealers, who may draw
il all out at a moments warning. OF course the
holders here want to make something on this money
while they have it, but they must hold it well In
hand throughout, 90 as to be able to repay it when
required. They can only lend it ION call, go that
they ksor it will be forthcoming at flash OF the
electric fluid; and, being sure Of this they can and
do lend it at six per cent. when they could not DO
tempted to put money into Minnesota mortgages
even at twenty per cent. Probably borrower who
could pledge L. s. stocks might carry loan OF
slOO 900 at lower average rate than six per cent
but that would not help the needy pioneers in MIN
nesOta.
II. tits idle to grumble or rail at holders for
rise of corner.lots in embryo Western cities;
since any of US would do much as they do if we
only saw through their spectacles. Who would
NOT rejoice that his father had bought quarter Of
the site of Chicago thirty years ago and held on to
it to this dsyl If nobody, how ssall we blame
him who fancies that he owns the site Of Chicago,
or even q Dubuque that s to be in 1S7O' VI
course, we all know that most Of these sanguine
expectations will be blasted-that there will DO
many jackson CITY" or Evan Buren, Harbor
to every brilliant success in the corner-lot line;
but every operator feels sure that he has stuck his
stake exactly in the center of the visible creation,
and s about to see another Babylon or Thebes rise
around him. If he is right in his anticipations, ne
can afford to pay three per cent. per month to
b bolJ NJ no hia lnfs
cost him dollar or go each for $500 to $4,000
each. If be is mistaken-as he generally is-he
must probably fail any how, SO he may as well bor-
row another 81 900 at three per cent. per month as
not, 80 far as bis own fortunes are concerned. We
have very decided conviction that Usury Laws
are wholesome, and that Minnesota would do well
TO limit the rate of interest to ten per cent. per
annum or (for short lOaDs) one per cent. per
month-that all the money she borrows Of East
ern capitalists at three per cent. per month she
borrows to her own loss and injury; but the /" Let
US alone" political philosophy is now having run,
and we bide our time.
And now to the positive side of the general
matter:
ILL., The pioneers of the new States will not be dis
suaded from burdenDg themselves with too much
land. The soil around them is go fertile and at
tractive that they want to grasp as much OF it as
possible. We have known q Minnesstian who
owred five hundred acres of as good land as lies
out of doors come to New. York to mortgage this
and raise thereon the means of buying three hun
bred more. What for, do you suppose Did he
expect to cultivate eight hundred acresl Never !!
He wanted to forestall the next rush of pioneers
be wished TO sell again at treble or quadruple the
cost Is that one whit better than an usurer's ex-
action or three or even eight per cent. per month
Wetbink not.
w. If every pioneer of moderate means would
content himself with eighty acres of land, it would
give eight farms to each square mile and two hun
bred and eighty-eight to each rural township.
Common Schools might thereupon be established at
once, and churches, mills, mechanics shops, &C.,
would rapidly follow. Each farmer would have to
work but one.fourth as much on the roads, and go
but one.furth so far to the backsmiths, the grist
mill, &c as he does where each settler grasps in
the average, two quarter.sectiOns. His school
tax, church assessment &c, would not be hall
what they now are. Aud eighty acres is more land
than enc man ever did or ever will cultivate prop
erly or advantagesusly. Half the pioneers might
avoid many prvations and losses by simply selling
off or throwing up all the land they own beyond
eighty acres Ifthey ,ciH hold land on speculation,
let them abide the consequences.
V. Each square mile having been taken up by
eight good farmers they should unite to enclose the
whole or most of it in common fence and agree
not to turn any cattle loose therein. That would
save them three fourths of the present heavy cost
of fencing which often far exceeds that of the
land. Even if it should be necessary to enclose a
part of this specially for pasturage, the saving
would still be very great.
VI. Presumng that they are in the main good
neighbours, We would suggest that, by general un-
derstsDdiDg one of them should, as their means in.
crease procure and keep breaking up team; an
other moving and Ieaping machine; a third, a
thresher and cleaners and so on until pretty good
supply of the best labor saving machines should be
gradually obtained each neiehbor agreeing to bor-
row ard lend on fair and equal terms. By and by,
We trust, men will be wise and good enough to car.
~ the principle of Industrial Cooperation much
further, but let us begin cautiously aud travel no
faster than We can clearly see our way.
VII Since our correspondentspeak Of pioneer
prvationa, We will venture to ask if many of them
have not carried with them some habits which it
were better to have left behind-the use of alco.
holic liquors, tobacco, tea, coffee, &C., for exam
pie. These articles cost far more in the West than
in the East while the produce which must pay for
them generally sells lower. Might not an increase
Of comfort be secured by pitching them all over.
board, at least for a season.