The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-04-08

capital; and also that, if the currency be not
further inflated by additional issues, or weak
ened by o cessation Of tina. employment which
war is giving to much of the floating capital of
the country, this real estate speculation may
harmlessly correct itself by diffusion.
While there has been no appreciable advance
in the prices of real estate in the Northwest,
we yet find that the abundance of greenback
money is stimulating an unusual activity in the
real estate market of this city, and that owners
and agents are confidently anticipating brisk
season and ready sales. There have already
been number of transfers of real property in
this city and in other parts of the State,
through agents in this city, and as all of them
exhibit rather lower prices, instead of higher,
than have been paid or asked in past years,
we group few of recent transactions for the
benefit Of our readers, as follows:
Judge Nelson's farm of so acres, three miles
from the city, under cultivation, with good
house aud other improvements, sold for Sc, 800.
The land, without any improvements, was sold
in 1858 for 1000.
One-third of lot and stone building in block
16, Third street, 20 by $50 feet sold at 81, 500.
The same property few years ago was held at
$3.50 the front foot.
One-half Of lot in Winslow's addition, sold
for $3.50.
Lot in L. c. Dayton's enlargement, sold for
500.
Fractional lot, south side of Third street,
near jackson, 10 by 40 feet, sold for 81, 900.
Lot II, block II, Rice & Irvine's addition,
sold for $500.
Lot 4, block u, st. Paul proper, with house,
tor $3.50. Same property sold a few years
ago at 600.
Upland lots on the new road in West Saint
Paul, which were held in 1857 at 1900, are now
selling at 500 to $40.
Third street property, which was neld in
1857 at $500 to $3.50 the front foot is offered
now at $780, with a few extra desirable loca-
tons held at $2Oo.
Jackson street lots, which were held in 1857
at 800 to $50 the front foot, are offering now
for $75.
Robert street lots, which sold in 1857 at 5000,
are offered now at $50 the front foot
While there have been uutil recently but
very few sales of real estate in this city since
1860, it is evident that real property has been
slowly, but steadily recovering from the DE-
preston of prices produced by the financial
break down of 1857, and that none of the best
city lots can now be bought SO cheap as they
might have been bought two or three years
ago But, in comparison with the valuation Of
1857. when wild speculation governed the mar
ket, prices Of real estate at this time are de-
clined twenty-five to fifty per cent, while
every consideration which should maintain the
value, not only Of city, but also of country pro-
perty has been added to by private and public
improvements.
The sure foundation upon which the rail-
road interests of the State seem now to be
placed; the fact that roads are actually in
operation and being extended from st. Paul
and Winona, while other important railroads
are icing completed for a speedy opening;
the iirmer and more metropolitan character of
the business OF st. Paul; and the renewed
proofs OF the varied and permanent resources
of our State. out of which must grow in time
grand union of agricultural and mechanical ill.,
dustry and wealth-all have their part in slim
ulatiDg that activity in real estate which has
been recently noticed throughout the State, and
more particularly in this city. This activity
does not bear the character OF speculation; it
is the doings of our own citizens, and is based
upon strengthened confidence in the contin-
ued and increasing prosperity of Minnesota
and its capital city-and is, therefore, crafty
ing and welcome indication of the better times
coming. And we have no fear that this activ-
| ity is to be followed by reverse like that of
1857, unless the Government shall neglect for
another year to correct its financial policy.
In this city there have been more sales of
city property in the past two months than in
any year Of the four preceding. Every land
Office In the State is recording the entry of
more land than at any previous time for the
last six years. The pine and farming lands of
the State are rapidly passing from the owner
ship OF the Government. Hundreds of home
steads are being taken in each land district
Land warrants are once more in demand-the
Messrs. Thompson Bros. of this city have sold
900 acres in the past two weeks. and others
have experienced like revival of the trade in
warrants Despite the present high and pro-
spective higher taxes, the people as well as the
capitalists see the wealth of the land and seek
to possess it, While, as now there is no
swelling OF prices beyond what is fair and
seems iustifable and while there is no gather
ing of property into the ownership of the
few to wait for higher prices, thus keeping it
unemployed, perhaps for years. as has been
heretofore, we are glad to record that st. Paul
and Minnesota real estate is once more in favor