Saint Paul weekly Minnesotian., 1858-12-18

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 a
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 per
cent. 1t is manifesdy better for all parties,
| that these securities in the beginning should
be received at a lon rate. Then the currency
will be well received and as the bonds increase
in value, the amount of currency may also be
increased.
A recent decision at the General Land Office
has been made, which permits the pre-emptor
to use two or more Land W Warrants in locating
the land pre-empted Heretofore only one
Land Warrant could be used to enter q pre-
emption. Land Warrants can also now be
used in entering railroad lands. On lands
held by the Government at $3.50 per acre,
160 acres may now be entered either with q
16O, or two sos, or l20 and 40, or four 40'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, 120's roe. We are selling at
| small advance on these rates.
Exchange continues very scarce, and the
Bankers rates have advanced We quote
Ex. on New York, buy. i per ct. sell ~ per ct.
81. Louis, -. 4 IN
I =" Milwaukee. .' :. .par i" :. X Z"
Chicago. par :. x -"
The City Treasurer informs rs that be has
received from all sources during the present
year over $l06%00. One-half Of the taxes
for the .essrrent year have already been paid.
I OF the State, County, and School Tax, ssa.0 900
have already been paid, and $S9, 900 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. 80 cts
County, =" ....60 to s5c. " 10
State " ....70 to 75c. g $50
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:
! CAPITAL FOR THE WEsr-A large amount
Of money is now lying idle at the East, seek
ing investment A fair rate of Interest with
good security, is all that is now required to
unlock millions. First-class bonds and mo r
cages, bearing per cent. interest are in great
demand in this city. Borrowers Of late are
making negotiations to considerable extent
at 6 per cent Under such a 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
with which some of the States are dsgraced
The nearer you can make a bond and mort
gage in value to gold and silver, of course the
better it is If It required 12 to "a months to
convert an American eagle into sonething that
would pass current at par with which to pay
debts, such currency would be at a great dis
count. IF every Western State would pass
such law, that bonds and mortgages when
due, could be foreclosed without the possibil-
i:y of hindrance within 80 days, capital would
soon be more abundant there than here
There would be competition for such security.
Real estate is the safest and best of all secur-
ity, when all contracts based thereon arc
guarded and protected by wholesome law
Tne reason why money now goes a-begging
in Wall street at and per cent, is that
lenders are willing to accept Of almost any
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 o 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
a good title Now that the Union is safe !"
again, we hope that our governors, legislators,
and influential men, will go to work with some
practical reforms which will prove a great
blessing to the people Abolish all your stay
laws permit borrowers and lenders of money
to make their own terms On this free coun
try) in regard to rates Of interest; remove all
obstructions, of every name and nature, to
the most prompt collection of debts when
due, and give us a general bankrupt law,
wisely and properly guarded, so that millions
can be saved which are now swallowed up in
expensive itigations, never-endng assign
ments, and swindling 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-
yamme-to begin with.
DIscouNTs.-There is still a 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 5
per cent, good grades of all dates, six months
Inclusive. Even eight-months paper is taken
at 8 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.
FoRElas 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. 1lth, shows falling off in the
, specie of about "a, soc, 600, leaving o total
however, of $105, ,000, 900. The discounts
,, show an increase of $3,500,0o0. 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