The miners' express. (Dubuque, Iowa) 1849-1854, 1850-05-22
Correspondence of the Express.

Spce"t0tors.-Pricc Of Money-Cost of Lands
-lmprorements.-. Prosperity
MIR. ED1ToR-ln your editorial of May lst,
you advert to the well-known fact, that money
is loaned, in large amounts, in Dubuque, at the
enormous rate of 60 pei cent!
| How it is that Agriculture is not crushed un-
der this enormous taxation, is a cause of wonder
to many, and can only be accounted for in the
fact that the agricultural interest does and must
possess peculiar advantages over every other la
boring in the State propose to show how this
per ccntagc is obtained by the money lenders.
(God be mercifu to them)
The Lands occupied in this State, were set
tied mostly by men of small means, under the
| CLAIM System. The close of the Mexicon War,
and the advent of Land Warrants found great
majoaity of the settlers with improvements On
government land, with no legal title. By the
natural laws Of trade, Land Warrants brought in
the eastern market price governed and varying
with the demand. They were purchased chief.
| ly by spectators, who generally sell them to
the settlers on time, at such price, that the land
does not exceed the price demanded in hand by
the Government.
Under this system, the settler can get one
years e-emption on his land; then buy land
warrant OF the speculator, on time of two years,
for two hundred dollars. Thus, in effect, get-
ting his land on a credit of three years, at gov
ernment price; while the speculator pockets his
40 to 60 per Ct IN the operation. If the settlers
land is worth what he pays for it, the inquiry a.
rises, who does the profits of the speculator come
out Of Undoubtedly from the soldier, who sells
his warrant for less than the Ian is worth which
it calls for. If the farmer happens to possess
means, he gets his land so much less than the
government price, as he buys his warrant at a
discount
| have resided in the State nearly six years,
and during that time, the prosperity of the til
lers of the soil has been unretarded-even by
the very low prices, which produce has bro't in
the river markets. The reason believe to be,
that produce can be raised at cheaper rate in
in the world-or, in other words, the price OBJ
tained for produce is greater per centage on the
cost of production than anywhere else.
For instance, crop of wheat, at 80 bushels
per acre, will pay, at 60 cents per bushel, for
land at $l.25 per acre; for fencing, $500 per
acre: plowing, 5000 per acre; for seeding, har-
vesting, threshing and hauling to market; and
have money left in the operation: My corn cost
me less than cts. per bushel last year, and oats
10 cts, while the price is usually 20 to 25. The
cost of an acre of improved prairie land may be
set down at not over $6.25, when made in fields
of forty acres; allowing wages at so cents per
day for fencing.
That we have men who do not succeed at
farming, is not to be denied. But their want of
success must be looked for in some other cause
than want of natural advantages; while other
men, with less means by their side, prosper in
the business. Want of capital or energy, bad
calculations, or extravaganza, may each have
had their influence in rctardng the prosperity
of many. But generally, our agricultural popu-
lation are thriving, and, other than the gold fe-
yer, are generally contented.
And had we more of that old-fashioned Beun
Porridge Economy, which carried our fathers
through the revolution, we should have more
contentment and less gold fever.
Yours, ,SILEX.
Dubuque Co.. Nav 15