The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1858-12-14

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4 large amount Of money h nov lyssg idle
. Tie East. seeking Investment "A fafr rate oi
iAseresk With sesd secusity, b all that d nov
required . uslsck nlliIaes. First class bonds
aad mcrtgagea bearing per cent interest, are
| In good demand in this city. Borrowers Of late
ase 0aking negesiAsions 70 considerable extent
at 9 per cent Under such . state 81 thines.
large sumo Of monsy would 20 West, where the
sasss Of interest allowed by law are higher than
here, we're IL mot that capitalists are afraid Of
the ingenious stay laws and other obstructions
- the speedy collection Of debts with which
se.ss OF the States are disgraced.
the nearer you can make bond and mort
cage IN value to gold and silver, Of course the
better is il. II is required Il 20 "a month"; n
convert an American eagle into soussthino hat
woald pass current at par With which % nav
os0ts, such currency would be at Z great dis-
count II every Western State would pass such
- iaw. shat bonds and morEages, when due.
could be foreclosed without the poasibilitv AZ
hindrancs within thirty days, capital would soon
% more abundant there than here. There
would b. eoMpstitioH for such security. Real
estate 10 the safest and best Of all security.
when sll contracts based thereon are guarded
and protected by wholesome Law. One reason
vhy money nov goes begging Ia Wall street
81 4 and per cent, is that lenders are willing
20 ecceps Of almost any rate Of interest provl-
oeo their money can be had on denond Bonds
and mortgages we'll secured and properly At
tested BY men clothed with proper authority.
would be almost - current % bank bills. and
therefore could be disposed Of ct short notice.
In the light Of the above paragraph and hun.
dreds Of similar import, it will be readily seen
Why capital, which is 90 much needed here, and
20 abundant East, does not dow West. 1t is bs
cause Of the efforts of broken down and bank
rupt spectators, Qew in numbers, it 10 true, but
great At manufacturing public opinion and ma
king noise generality to procure the enact
ment Of stay and appraisement laws. Their
continued agitation of the subject of State Aid
to Railroads, and their appeals to the Cover
nor TO assemble the legislature In Extraordinary
session, ostensibly to consider this matter, but
really with. the hope Of getting laws enacted
to impede the collection Of debts, frightens
away capitalists and capital from our State
At distance many really suppose these agi-
sators represent public opinion and speak the
popular sentiment, when in fact they compose
. very small minority. The great body Of the
people do not sympathize with them-do not
ask or desire stay or appraisemens lAws-will
have nothing to do with the crazy scheme Of
State Aid, and look to NO remedy for the evils
under which. in pecuniary point of view,
they now labor, except to their own hands,
They expect to pay their debts and hope to
do it at the earliest day and At the least ex-
pense Of interest and costs. There is NO ap-
praisement law for real or personal property
after the lss Of January no appearance term
for the courts, and such as choose to resers to
the law for the collection of debts can do 60
With as little delay as in any State of the Union
Il 10 also true that under deeds of trust,
mode Of security used in this State, real estate
Fan be sold for debt in ten days after the
maturity of paper. What speedier or more
mode of collection can be asked or
desired than thisP
Just as soon as We can close the mouths Of
ew bankrupt spectators and traders and salts. |
y them there is nothing to be gained by agi |
ation-juss as soon as we give the necessary
assurance that we do not intend to obstruct
he collection of debts by ex post facto stay |
ind apprasement laws, we shall restore our |
:redit and be able to borrow all the money we |
iced for legitimate purposes at low rate OF |
interest, upon safe and reliable securities.
This being, as We conceive, the correct view |
If this matter, our advice to the advocates of !
IN extra session of the legislature is, to use q |
"pRY UP"--the sooner the better.