Saint Paul weekly Minnesotian., 1858-06-26
!, roll was called aud Journal read.


ii. F. No 263, an act to prevent disturb
ance of religious meetings. -
Fl. T. No. 2S7, an act authorising School
District No. 5, to raise money for certain
purposes. a.
II. F. No. 297, bill for an act for the pro-
lection Of laborers on Railroads and other
public works.
Ii. F. No. 295, an act extending the time
for taking assessments in the State.
SECOND READING.
House Bills, No. 278, 900; and Senate files
204, an act Incorporating the City OF Anoka,
and S. F. No. 205, an act repeating the Char
ter of the City of Shakopee, were read Sc
cond time by titles.
BILLS READ A THIRD TINE AND PASSED.
A bill for an act to provide for locating
county seats Of counties in this State.
REFERRED.
A bill for an act to amend Sec. -, Chap.
II, of Revised Statutes, was put on final pas
sage, but referred to Select Committee.
Also, an act for the protection of trout,
was referred to q Select Committee.
COMMITTEE OF WHOLE.
Ou MUtlON, INC CeudtC tiCu HSHt iuIU
Committee of Whole.
Mr.. RIDPATH in the Chair,
To take up the Bank Bill.
The bill was taken up at the Section at
which it was under debate when the Com
mitteee arose yesterday, and the following
sections considered and amended.
The 33d section, regulating the rate of in
terest to be charged by banks, being under
consideration, an amendment was moved to
strike out all relating to the rate OF interest
Mr.. SOMERS opposed it 10 lengthy
speech. He wished to see the rate Of inter
est fixed by the bill, so that banking compa-
nies should not unite with land sharks, brok-
ers and Shylocks in fleeing the people
.50,i.o sale, tDis might prevent capital from
coming into the country, but at such usuri-
Gus rates as we had been compelled to pay
hitherto, such capital only made US poorer
We paid in a couple of years, interest equal
TO the capital itself, and if then withdrawn, it
would make us so much poorer instead of
richer. He wanted this bill to fix the rates,
so that we might no longer be so imposed on.
Mr.. SMITH was opposed 70 limitation Ct
the rates of interest. He believed that these
things regulated themselves, and our object
was to invite capital hither Afterwards
when we had created good currency here, a
Usury Law can then be passed, regulating
rates of interest IN banks, as well as with
other money lenders.
DIR. REINER favored the opinions of Mr.
SoMERs, and made some further remarks in
regard to usury, &c.
Mr. NORTON said he was in favor of a
Uusury Law, although it was constantly
urged that it would be useless because they
are continually evaded. He thought that
they could be so framed, however, that thew
would be effective, and could not be evaded
But this was exiraneous to the matter and
bill under consideration now, and as far as
the motion before the committee was con-
cerned, be thought it would be we'll TO strike
out all relating to interest in Sec 80, and
leave the matter open TO bankers as well as
it is now to others, to be regulated as may
be otherwise seen necessary.
Mr.. STREETERa agreed with him as TO
the striking out of the lines limiting the rate
of interest. lie said he had seen the evils of
Usury Law, however, in Illinois, and be
wanted the field left open here for capitalists
to bring in money and loan for what they
could get for it. He Thought, too, that these
matters regulated themselves.
Mr.. MURPHY said his experience-and
he had lived 20 years in the Sucker Stale
had taught him that 50 far FROM being q curse
to Illinois, it had saved it. Perhaps this was
owing to the difference in their localities -
He, Mr.. Str aErER, had lived in that prodi-
gious village known as She-ka-gur while he,
had come from the benighted God-forsaken
region called "Egypt" He thought we
didn't need capital we were independent of
all money lenders. Every one should 60 to
work On 4 farm, and live honestly by hard
werk---then they wouldn't have need of bor-
rowing money. He was going in for this
plan, and believed he could vet 90 on to
claim and maui rails, and let the capital of
the money lenders go.
Mr.. BEMAN, wanted to know how manu-
rails the honorable gentleman had split in the
last five years. 1t was very nice to talk
about it, but the gentleman had made his
money easier. lie had made it out OF the
general Government. Perhaps he did mt want
to lend money, though he had plenty of it.
so he didn't care what rate Of interest money
brought. The speaker declared that usury
laws were failure. He related instances in
several States with which he was familiar.
and declared that the demand must regulate
The supply, and the supply regulate the rates
OF interest. IT. was opposed to all the laws
Of nature-even tie laws Of God--to at
tempt to regulate such things, Ha,nan Ler-
islation had nothing to du with them. they
are matters not for us to CONTROL and we did
not believe in the attempt to fix any rates
in the bill.
Mr. MURPHY replied, but was interrupted
by message from the House. which the Sen
ate refused to receive.
Several other Senators spoke to the aues-
ton, when it was carried.
The bill was proceeded with, and amended
in nearly every section, but at O'Clock, as a
quorum was found rot to be present.
committee rose, and asked leaveto sit again.
The Senate then adjourned
HOUSE E-The House met pursuant to ad-
journment and was called to order by the
Speaker.
PETITIONS.
By Mr.. STEVENS OF certain inhabit-
ants Of Nicoliet County praying to be set off
into the County OF RcnviIle. Referred to the
delegations from Nicol!et, Sibley and Rem.
vile.
BILLS INTRODUCED.
BY Mr.. WILSON (: To change the county
line between the Counties of Houston and
Winona and submit the same to vote of the
people.
By Mr. LOCKE To extend the time for
the collection of taxes in Dakota County.
SECOND READING.
House bills To provide for changing the
boundary line between Winona and Houston
counties-Referred.
Memorial to Congress to reimburse the
State of Minnesota for certain expenses as
sumed by the State.
APPROPRIATION ELL.
The amendments to Appropriation bill
made IN the Senate were as follows
1st. Appropriating 81 $50 for Express