The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-12-12

among capitalists to move very cautiously,
and money, although actually abundant will
be we'll guarded by those who have it, and
put out only on the very best securities.
The Country Banks of New York, New
England and all of the banks in the east in
good standing, will make it their policy 10
strengthen themselves for the general re-
sumption Of specie payments. They will all
care more to preserve their credit from fur
Their blemish, than by expanding to make
money at the risk of their good standing
1t will be idle therefore for us in Minnesota
to look to the banks in the East for any relief.
Their money will not be sent here, either d.
rectly or indirectly for the purpose of loan
ing or investment until money matters both
in this country and Europe have assumed a
position as firm and substantial as before the
panic and the sight of any large amount of
Eastern currency among us, let it come from
what quarter it will, will be sure evidence
that it is currency wanting in good credit
at home and sure in the end to prove fraud
to the holder.
We must not then, for the six months to
come, look with any confidence to the East
ern Banks for relief Our only resource must
be among ourselves.
The Legislature now in session may do
something to help our own affairs. Above
all, they should be careful to pass no laws
which will increase the difficulty in the COL
lection of debts, or that will in any other way
prevent capital from coming hither for in
vestment, for after all that is of the most
Importance to the money borrower. No
Usury Laws should be passed, for that of all
things will increase the rate of money.
Under our Constitution, the Legislature
have the power to pass a general Banking
Law. The Constitution provides abundant
security in u S. and State Stocks as the ba-
sis of all Banking. Let the Legislature then
be careful to make the currency safe to the
bill holder and then create law as liberal
as the Constitution will admit in other res
poets. Such course may create few banks
of issue here If in the present state of
things, such banks will be benefit to the
community and the State, let them be crea-
ted without Usury Laws, and with provisions
more liberal (the bill holder being securely
than those of other States. AS the times
grow better, they may be hemmed in by res
trictions, which if now enacted would pre-
vent single Banking Institution from being
formed.
IF such institutions are an injury to the
State, they should not be allowed to exist
But if as we are now situated, they would be
a benefit, then the consideration that private
individuals may derive benefit from Gener-
al Law, equally open to all, should not pre-
vent the enactment of laws liberal in spirit
and attractive to capitalists elsewhere.
We are buying Exchange on New York
and Boston at from 2 to q per cent. premi.
UNI. We are buying Eastern Currency at
from to 2 per cent. premium. and are pay
ing for Gold to per cent. We are buying
all kinds of uncurrent money, and are paying
for all the Banks of New Jersey and Rhode
Island, except those in liquidation, ninety
cents on the dollar.
We are selling Gold for promscuous cur
rency, at 5 per cent.
Exchange on Atlantic Bank. New York
City, at per cent.
Exchange on Marine Bank, Chicago, at II
per cent.
For Eastern Currency we can sell Gold
and Exchange for 2! per cent.
We have received large lot of 16O acre
Land Warrants, which we are selling for 80
cents per acre, for gold and good currency.
The Board of Brokers do not receive the
currency of the following Banks on deposit.
The old Broken Banks are not in the list
and our readers should beware of them.
MAINE.-Grocers Bank, Bangor; Canton Bank, South
China Ellsworth Bank, Exchange Bank, Bangor; Mar
thine Bank, Bangor; Monsum River Bank, Sanford
Bank, Hancock Bank, Bank of Hallowell.
New HAMPsHIRE.-Exeter Bank, and Lancaster Bank
vERxoNr.-woodstock Bank, South Royalton Bank
Stark Bank, Bennington ssisquo Bank, Bank of Row
alton, St. Adams Bank, Dandy Bank.
MAssAcHUsErTs-Western Bank, Springfield.
RHODE IsLAND.-All solvent Banks in Providence are
received.
Observation-Disclosures Bank, Danbury, East
ern Bank, West Killngly; Woodbury. INK, Mer-
chants Exchange Bank, Bridgeport; Bridgeport City
Bank, Colchester Bank Hatters Bank Bethel Farmers
Bank, Bridgeport; Bank of North America, Pawcatuck
Bank, Qunebang Bank, Wooster Bank, Danny Wind
ham county Bank, Manufacturers Bank, Manchester,
Granite Bank, Valentown.
New YoRK.-Oreans Bank, Albion Ontario Bank,
Utica; Yates County Bank Penn yam; Reciprocity
Bank, Buffalo; Sacketts Harbor Bank Buffalo.
DELAwARE.-Alls solvent Banks are received.
NORTH CAEoLINA.-An except Farmers Bank are ro-
ceived.
MARYLAND.-An Baltimore and Annapolis Banks are
received.
PsNNsYLvANrA.-Bank of Pennsylvania, Warren Coun-
ty Bank Erie City Bank, New Castle Bank, Lancaster
Bank, Merchants Mechanics Bank, Pttsburg
OHo.-Canal Bank, Cleveland; City Bank Gin.
cinnat; Sandusky City Bank, Dayton Bank, Dayton !;
Clinton Bank, Columbus; Seneca County Bank, Tin !;
Miami Valley Bank, Dayton; Union Bank, Sandusky !;
Bank of Circevile, Bank of Massilon, Bank of Zanes
vile, City Bank Columbus
INDIANA.-The follswing Banks received. State
Bank of Indiana, Bank of State of Indiana, Bank of
Goshen, Bank of Mt Vernon, Bank of Indiana Bank
Paoli, Bank of Rockville, Bank of Salem, New Albany
Bank of Salem, Salem Bloomington Bank, Cambridge
Bank, Farmers Bank, Westfeld; Indiana Bank Indi-
ana Farmers Bank Kentucky Stock Bank, La Grange
Bank, Parke County Bank, Prairie City Bank, Salem
Bank. Goshen; Southern Bank of Indiana.
ILLrNors-.Al Stock secured Banks except Nashville
Bank, Peoples Bank, Carmel; Stock security Bank,
Danv'lle
wIscossIN.-All Stock secured Banks are received
KENTUCKY.-A1l except Ashland Bank received.
VTRGINIA.-An except Bank of Kanawha, and Trans
Allegheny Bank received.
LoUIsIANA.-All solvent Banks received.
MISSoCRI-An
New Jersey and Rhode Island buying at 9oc.
RATHER TAKEN 1N.-The figures upon
which the Sentinel based its charges of fraud
in Zumbrcta precinct were taken from the
census returns of Deputy Sheriff DeKay,
who took the census of but half the precinct,
the Sheriff having the returns of the rest
but our neighbor was quite as correct and
sensible in his calculations in this particular