The Burlington weekly hawk-eye. [volume] (Burlington, Iowa) 1857-1858, 1857-10-21

Il " 4
layNv. E3itsr, -Thsfo sssno tosbssa esh1ra
dssiFs sssoag ear basiasss nsD = adep4 SONS
Isenesrtsd plan 81 aesioo, = ! asans 81 relief
hon ~ esvsss aoasy prsssuss sad. cense-
qdsnt ssagaaslen u business and dsssnxemsns
Of sxchangeA aadss uhleh ~ AZ suileriae.
70 dsviss tks plSa vhich vii secure pablic
eonadenes asA - Mkssy . asseapaah shs OBJ
ject = nos A sAsy task. Without attempting to
explain Or dsdas tie causes which have pso-
dacsd The prsssasssass u things, Il = obviously
trass thae shs country i il dsbt hsyoad il
pssssns available sasaas - pay. s
" The banks in New York, Philadelphia. e.. .
suspend specie payments, mot bscaass thay ore
insolvent, but because their customers, The
nerchants and manufacturers, cannot pay what
they owe The hanks. Eastern msrchaats aud
manufacturers cannot pay their bank loans, and
ase obliged 70 suspend because merchants and
others throughout the whole country, and %.
pscially she West, - whom shey have sold shsir
goods and varea. DO nos make payments in time
aud manner ~ agreed. Couasry msrchants
have sold largely on credit and cannot oollees.
The debts due country msrchants are distei-
bused in compare lively small sams thfoaghout
the whole commanity. the farmers owing more
largely than any other class $685. -4
4, The 6rst effective sep In the way Of sabstan. |
tal relief, 10 for the farmers and all others in
debted, topAy these email Sums, &C the earliest I
practical moment, which together make the
large sum required to afford general relief. liz |
shs merchants in Burlington could collect the |
amounts due from their customers, they could |
no doubt pay on their Eastern liabilities. and
thus they and their customers would % relieved, |
and the paynents thus made would contribute l
to relieve Eastern merchants and banks. What
is true Of Burlington 10 true Of every othor
Western city and town; and similar paymeHu
generally throughout the country would speedi-
y restore busiasss Of the country TO . beautiful
and prosperous condition. =
But 1t 10 said the real wealth of the country
10 In the productions Of the soil and that the
farmers will not cell At the present low prices.
For several years past, owing to partial, and
In come parts Of the country general, failure
Of crops, and good foreign demand, prices Of
all agricultural products have been exorbitantly
high. This year crops are universally good with
NO especial foreign demand. Two causes con-
tribute to make prices low, abundance 70 sell
and scarcity of many to buy. The abundance
is fixed fact and must have its influences ON
prices through the year. The scarcity Of money
is produced by the inability Of Eastern busi-
ness men to pay their notes at maturity, and
the consequent inability of tho banks to main
tain specie payments and the destruction Of con-
idence attending this state Of things, together
with other causes which contributed to the same
result Nov one way TO make money plenty, i
for the farmers to sell their produce. pay their
debts and thus remove the causes which make
Il scarce. If they refuse TO sell and hold their
produce till spring, they only aggravate the
wills Of which they complain, incur interest ON
what they owe, sufFsr more or less loss in Quao.
Iity by holding their produce, and expose them.
selves to the contingency Of taking less prices
10 the future than they can get now. However,
he farmers may reason on this subject, it 10
,learly for their interest to sell and pay their
lebts, and thus they should be made 10 under
ltand and feel.
The present agitated state Of things will, NO
loubt, quiet down in few days, and the circu-
ssion Of the paper Of banks known 70 be sol
rent will constitute reliable currency for
business, and the produce Of the country going
oeward to the Eastern markets win furnish the
necessary exchange. H.