Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-02-11

gasssss ignorance ~ We"ers
P1oGsess.
Every mail from the Eastern States
come freighted with scores of letters Of
interrogation concerning the prospects
Of business in this vicinity, the proba-
bility Of loaning money safely, and
whether the Indians are all removed
from the neighborhool Of Fort Arm
strong, with ten thousand other qcns-
tions, that show an amount Of igno-
rance aud incrcdulity concerning this
portion Of the West, entirely inexcnsa-
bic, and both ludicrous and amusing.
Those who have settled here, and be-
come inoculated with the true spirit
Of the place, find all their truthful, and
tamsst representations laughed to scorn
BY their Eastern correspondents, who
think, that because money is loaning
here 1t the common rate of twenty
dvs per cent. interest per annum, that
We are oil going to smash. Those who
reason thus, do so with the light Of
their own experience only, as a guide,
and have never come into this Eden Of
happiness and plenty, to see the won
dssfal strides we are annually making
IN the path Of progress to wealth.
Othsss are timid and fearful Of the
usury lawA and do not dare to loan
their money out 70 Western borrow
en- because they are fearful Of the state
Of morals which they imagine exists in
this vicinity.
Now,we propose to give few plain
facts for the especial edifcation ofthis
class Of persons, and trust that all those
Who have such kind Of timid CORES.
pondsnta, will send them q copy Of
this paper, that they may know the
exact truth respecting the state Of bust
nsss and monetary affairs in this Coun-
~ and other Counties Of this State.
The basis of Western wealth is that
q real estate and it, agricultural i'm
psovement. There Is scarcely foot
ef Issd in Scott County that has not
'@proSsd Twenty-Five per cent. in rolue
annually for the last fire years, and
~" 20 continue to increase for the merit
~ ysars to come.
Real Estate owners are BY this means
enabled TO borrow sums of money on
mortgage security, payable in one year
Win annual interest at twenty-five per
cent and employ such money, either
~ improving, or building upon their
Arms, OF entering Government land,
which government land almost invari-
ably doubles in value the first year of
the purchase Of it. Here then is q
psoat Of one hundred per cent. upon
he money invested, and deducting the
- per cent. on the loan, there is net
profit Of seventy-fve per cent. This
= ~ ssss9srassd abatement, but the lit
sra! truth. There are hundreds Of per-
sons in this city, who have done this
every year, for the last four or FIVE
ysan and become wealthy citizens,
when they were almost beggan but
tsw years before. Wild lands can be
bought In this county for go per acre.
A hrm Of 100 acres will csst 1900.
HtAis purchase i made in June, the
purchases can fence and pillow X the
aams aaasou. In the following Spring,
hs can cow HE seed, without l,lowiag,
harrow Il in, and within fifteen months
aaesr the purchase, he can reap from
thin leo acres 1000 bushels of wheat,
allowing Is baahels to the acre, which
= the usual yield the first year. At 50
cent? per boshel THE present price, al
though lest year At this time wheat
sod fos d. 20 Per bush.) this 1000
bushs)s would amount to the sum Of
o3,200. From this deduct the cost Of
assA, md efhbor and transportation,
cd " have Tie following results
Value q wheat raised, $4,000
Cose e sssd,-say, 900
laboe. 600