The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1891-02-26

8. Ihe majority of the members
seem to pc OF the opinion that no
II law should pass, and that
the rates OF interest should be left
as they stand to-day, at 8 and 10
per cent, but at the same time
they Il feel that they were pledged in
the last campaign to make
So some change in the present law.
Inc result will probably be that
the Democrats and Alliance will
agree IN caucus upon the law which
Will finally pass, the prospect be-
ing that it will provide for 6 per
cent. legal rate and 9 per cent.
contract rate, beginning July 1,
1891, and s per cent. contract rate
beginning July 1, 1892. OF course,
the object of all interest laws is to
give relief to the farmers and small
borrowers but it is extremely
doubtful if that end is accom-
pllshed. The best fnanciers hold
that the effect Of the passage of
such a law as proposed will be to
drive money out of the State and
make 1t almost impossible for
farmers to get while the large
borrowers in the cities will not be
affected one way or the other.
They will still be able to get as
much money as thew REQUIRE at the
legal rate or less. Country bank
ers, who appeared before the
house and senate committees. as
serted that in case the PROPOSED
bill passed, they should stop farm
loans altogether and send their
money to the cities to be loaned in
large amounts on guilt edge Sc
curlty. 1t was also stated that in
some of the southern counties of
the State farmers were getting
their money for 6 per cent. now,
while IN the sparse]y settled coun-
ties of the northern and western
portions of the State it was diff
cult to secure money at 10 per
cent, showing that money like
other commodities is Subject
largely to the laws Of supply and
demand.
The St. Cloud labor union. ablv
assisted by Tom Lucas, the Mime,
apolls anarchist, are swarming the
Hobbies of the house and senate
protesting against the employment
Of the convict labor at the reforma.
tory III cutting granite. It will be
remembered that four years ACC
one Of the chief arguments used by
St. Cloud men in favor of LOCATING
the reformatory at that place was
that there was ready employment
for the convicts in cutting stone.
1t is curious to note how easily and
quickly the opinions of men can
change.
The speaker last week announced
the committee on congressional and
senatorial reapportionment and il
will not be long before both
branches are hard at work carving
the State up into seven congress:
sional districts, that being the mum
Der OF congressman to which Min.
nesota is entitled according to the
last United States census. The
discussion of this question willvery
naturally assume a partisan aspect
and the probabilities are that all
Of the ingenuity of the Alliance
and Democratic members will be
brought to bear to give those two
parties the majority of the con
gressmen from this State. Sena-
tor Craig, of Waseca, chairman
OF the senate reapportionment,
committee, introduced the first
reapportionment bill, Monday,
and it: is very probable that
his bill will become law
with but few changes. According
10 ChlS DILL the First, Second and
Third districts will remain pretty
much as they are at present, and
the Fourth will be composed of the
counties of Ramsey, Washington,
Chisago, Isanti and Kenabec; Hen
nepin county will be a district by
itself, and will be known as the
Fifth. The present Fifth district
will be divided into two districts as
follows:
SIXTH DISTRICT.
SOoh. 10
Lake. ................ 1899
St. Louis. ........... ........... Il, $50
ltasca. ........... .............. 743
Carleton. ........ ........... $3.50
Altkln. amman. ............. 2,45S
Grow Wing. NEUTRALITY-SUSPICIOUS.. $500
Pine. Observation-Disclosures. ....... 4,052
Mile Laos. Observation-Disclosures. 2,S45
AnOka- 9906