Demoine courier., 1855-11-01
LAND S%PECULATiONS.

a r. "A. ". REM
LAND SPECULATlONS.
Having in vain overhauled all our ex-
changes in search Of interesting wi
mater, upon which set our compost
tors at work, WI turn despondingly to
that never failing resource of the editor,
our pen; and for a subject, gratefully
acknowledge our Indebtedness to a bevy
Of g gentlemen under our window, who
are discussing the subject OF land specu.
%lations, and who seem TO concur in an
opinion tina, the land buyers are moving
too far west-.ha. they are overlooking
good lands in THE and adjoining coun.
Ties. under a delusive hope tina. further
out they will be able TO find a country
unculled, end in which they can make
selections exactly 10 suit them. Well,
perhaps it is SO. We are not prepared
TO discuss that question now. Ahslrac.
lions are the order OF the day, and we
purpose 10 offer a few thoughts upon the
crude idea OF land speculation. e@
J Jus. abou, twenty years ago Illinois
occupied the precise position in the eyes
of the speculative that Iowa now does.
A system Of internal improvements which
we have never ceased to regard as a
vast project for a young state, had been
resolved upon; the abundance of money
in the country enabled The slate readily
to couver, her bounds into available
means, and her prospects for the accom-
plishnlent oil her stupcatous scheme.
were SO la,iering that capitalists. large
and email. real and imaginary. were in
sanely seeking investments in Illinois
lands. In due time a reversicn came.
1t is not our purpose 10 ecount the cir.
cunsiances leading 10 the unhappy event,
as they are already sufficiently under
stood; bat to The euent itself we wish to
call attention. Money became scarce,
creditors OF The state became i'm
portuna,e-ihe state was compelled TO
levy exorbi,ent iaxes-?roduce was a.
bundani, bui tae scarcity of money KEEP,
its prices down, and money coulc no, be
had 10 Pay taxes with-yast tracts Of
some, the finest in The State, were
cold under the collectors hammer for y
few cents per acie-snd, wha, 10 the re-
A complication Of land titles have
grown up which will be a soarce Of nev
er.ending litigation, and which. as a ,hirs-
" sponge. will al sorb the life sustain.
ing sweat from the brow Of many Illinois
farmers'u us long as ,hey live. These are
the facts; now for the analogy.
Money is again abundant. and vast
schemes Of internal improvement, are
projected within bor.er. Were all
the railroads completed which are now
commenced in our State, and which en-
joy fateriug prospects. there 10 scarce a
in central, southern and eastern
Iowa, whose daily Dabors would not be
~ The shriIl whistle Of the loco.
motive. Spectators Of all grades, from
the operator who eau buy but a forty
acre lot. up 10 combined companies of
brokers and banks who invest millions,
are hurrying to The Iowa land Offices
Should the monetary affairs OF the coun.
NY remain as easy as a. presen, for .
few years. all Of these spectators will
have disposed Of their lands TO actual set.
tlers. at advanced prices, and they will
have made a handsome thing Of it,
Well. u crops are abundant, we never
had so heavy an aggregate surplus be.
fore. and The crops Of Europe are short;
why can we not export our provisions 10
starving Europe and maintain U super
abundance OF money The idea looks
well out side; but let US take a peep be-
hind the screen. Will Europe have to
pay us money Our counties, principal
and com panies, are issuing bonds
iaily. upon which they are borrowing
money to build railrnaEds, and that mo.
ney is now stimulating this speculative
'pirt. Most Of these bords are, nomln.
lily. sold in New York; but. - the op'
orators shsrs borrow money in Europe
J. low rates Of interest and invest il a,
,ome a, higher ratas, the actual purchas.
rs may bs said l be Europeans. The
extraordinary expenses Of the principal
governments Of Europe in The prosecu
ion of their waris beginning TO embar
them. and they are calling in their
neans. Each arrival advises us that