There were no settlers on
the "Soscol." The people had the most perfect confidence in the title.
It had been twice confirmed by tribunals of high authority and great
learning--first by the United States Land Commission, and then by the
District Court of the United States.
It only wanted the final confirmation by the Supreme Court, and none
doubted that it would follow of course. Business could not, and would
not, await the nine years consumed in adjudicating this title. Farmers
were obliged to have lands, and they bought them. Capital must and
would seek investment, and it was lent on mortgage. When all
titles required the same confirmatory decree, the citizen could not
discriminate, but exercised his best judgment.
The sales of lands upon the "Soscol" were made at prices which called
for perfect title; they brought the full improved value of the land.
Money was lent on mortgage in the same way.
The deeds and mortgages, which accompany the respective cases, are
the very best evidence of the opinion the public entertained of the
character of the Soscol grant title. The people were amazed when it
was announced that the Soscol grant had been rejected.
No fact developed by this examination has appeared so surprising
to the mind of the register and receiver as that there were no
pre-emption settlers on the "Soscol." This is so unusual in California
that we expected to find the contrary.
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