Saint Paul weekly Minnesotian., 1858-12-18

~iAS ~"osNAeOi hisy OS NlhC0 uPOii W NIiiO uP
| the bank On all State stocks except the
the Minnesota R. r. rs, this rule can now be
readily carried out These bonds have not
yet been in the Market in New York, and it
is impossible to know what the quotations are
to be. With regard to their ultimate pay
ment, there can be no doubt. They are
good security for currency, and currency is
sued upon them will be received with the ut
most confidence if the same rule is applied to
those as to other State securities If the cur
rency is issued on these bonds at par, and the
securities decline ten or twenty per cent. in
the New York market, the currency will
also decline from fifteen to twenty y-five per
cent. 1t is manifestly better for all parties,
that these securities in the beginning should
be received at a loW rate Then the currency
will be well received and as the bonds increase
in value, the amount of currency may also be
increased
recent decision at the General Land Office
has been made, which permits the pre-emptor
to use two or more Land arrants in locating
the land pre-empted. Heretofore only one
Land Warrant could be used to enter pre-
emption. Land Warrants can also now be
used in entering railroad lands. On lands
held by the Government at $3.50 per acre.
loo acres may now be entered either with
160, or two sos, or 100 and 20, or four 4O's,
the balance of 5000 being required in cash.
These decisions have caused an advance in
the price Of Land Warrants. The New York
quotations now are; selling 40's 1.10c., SOS
Soc, 1905 SEC, ICES 79c We are selling at
a small advance on these rates
Exchange continues very scarce, and the
Bankers rates have advanced We quote:
Ex. on New York. buy. ! per ct. sell. ~ per CT
:. 81, Louis. -. 4 " &c TX
milwaukee,. q .par :. % X T"
Chicago, par -. a -"
The City Treasurer informs rs that be has
received from all sources during the present
year over $i06,1o0 One half Of the taxes
for the -Gsarrent year have already been paid.
I Of tho State, County, and School Tax, s92 600
have already been paid, and $500 of the
| City Tax. The Taxes have been more prompt
ly paid the present winter than in any pre-
vious year in the history of the city.
There has been less demand for Scrip dur
ing the past week. We quote
City Scrip, buying rs CTS: Selling. so cts.
State D." ...70 TO 75c. so d"
We have Washington County Orders for
sale to those having Taxes to pay in that
County.
We clip the following suggestions from the
Money Article Of the independent:
CAqirAL FOR THE WEsr-A large amount
Of money is now lying idle at the East, seek
| ing investment 4 fair rate Of Interest with
COED security, is all that is now required to
unlock millions. First-class bonds and mo
cages, bearing per cent interest, are in great
demand in this city. Borrowers of late are
making negotiations to considerable extent
at per cent Under such state Of things,
large sums of money would 60 West, where
| the rates Of interest allowed by law are high
| er than here, were ii not that capitalists are
| afraid of the ingenious stay-laws and other OBJ
| structions to the speedy collection of debts
| The nearer you can make bond and mort
gage in value to gold and silver, of course the
| better it is If it required II to "a months to
convert an American eagle into something that
would pass current at par with which TO pay
debts, such currency would be at great dis
count. If every Western State would pass
such law, that bonds and mortgages when
due. could be foreclosed without the possibil-
NJ 1
soon be more abundant there than here
There would be competition for such security.
Real estate is the safest and best of all secur-
| ty, when all contracts based thereon arc
guarded and protected by wholesome law
| the reason why money now goes a-begging
| in Wall street at and per cent, is that
rate of interest provided their money can be
had on demand.
| Bonds and mortgages well secured and
| properly attested by men clothed with proper
! authority would be almost as current as bank
bills, and therefore could be disposed Of at
| short notice. The whole system Of the ex-
animation of titles at present existing, is a
disgrace to the age. Security in any form on
real estate can never be what it should be
until there IS reform in this matter. One
would think that the special effort Of our leg
islators was to make work and secure fees for
lawyers A man holding bond and mort
gage, or deed, should be able to find out him.
self, without the aid Of lawyer, Or the delay
of twenty four hours, whether or not he has
good title Now that the " Union is safe "
again, VIC hope that our governors, legislators,
! and influential men, will 20 to work with some
practical reforms which viii prove great
blessing to the people Abolish all your stay
! laws; permit borrowers and lenders of money
to make their own terms Gin this free coun
| try) in regard to rates Of interest; remove all
| Instructions, Of every name and nature, 10
the most prompt collection Of debts when
due, and give us general bankrupt law,
wisely and properly guarded, so that millions
can be saved which are row swallowed up in
expensive htigations, never-ending assign
ments, and swindng attempts to use other
peoples money. This done, and capital will
Cow from east to west, carrying with it perpe-
tual activity and prosperity. That's our pre-
| gramme--to begin with. so
DIscouNTs.---There is still great dearth OF
| good business paper offering for discount, and
| little prospect Of any increase for many months
The rates are consequently low, being TO 8
per cent, good grades Of all dates, six months
| inclusive Even eightmonths paper is taken
at per cent. Single names are negotiable at
A to per cent. with great readiness. The
Boston capitalists compete also with us in our
own market for all good business paper.
FOREIGN MARKErs.--The advices continue
to favor the opinion that there is about to be
some increase in the demand FOR money. The
return of the Bank of France for the month
ending Nov. 18th, shows falling off in the
specie of about s., 500, 900, leaving total,
however, of $105, 100000. The discounts
show an increase of S3,500,0O0. Money is
still per cent in Paris, and there is report
that the Emperor is about to reduce bis army
100, 900 men, and convert the higher public