The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-10-14
Grain Associations.

In grea, financial revulsion such as is now
tearing up the paper credits of the country and
driving the metallic basis to the dark holes of
Care and thrift, the only hope of relief rests
uron the active delivery at the scaboard of the
products of the land. Z en- gold and silver
will come forth from their hiding places at the
command of stomacls in want of bread. The
abundance of the late harvest in conjunction
with the sud zen contraction and closing Of the
institutions upon which we too much depended
for Our business facilities. has COM letely stop.
ped the train Of Trade and the question among
economists now is "IIow will the grain Of the
West he made to move There is no money
here to buy it Mt any Price. Tho Banks dare
not discount because so long as gold is worth 5
to 10 per cent bank paper can not live an hour
it will inc itably find its way to the place of
its issue and still farther cripple the efforts of
its makers.
Plans, to meet this emergency. have been in
vented in Chicago and Milwaukee, bearing the
following features:
Responsible parties e. Associations stand
ready TO ship at low p,ice, all the grain that
may be forwarded to either of the Lake rorts
prior to the close Of navigation. The grain is
to be delivered to the order of the farmer who
forwards. subject to this lor rate for shipment
the freight, storage, insurance, &c, DC. The
farmer can then draw on New York for tho
amount due him there Oh sale of the produce
his drafts will 60 into the hands of the local
| merchant, find their way back to the city job
Dor, ultimately into the Banks and thus all
parties will find relief. Many of the Eastern
papers are urging western farmers to seize this
plan and practice it with energy until the
promised blessing is secured.
Or advice is not worth great deal in this
case and we do not propose to give much of it
but We can assure the fancy writers of Wall
Street, State Street, Lake Street and East
Water Street, that TO such arrangement will
move bushel Of grain from the west. All
plans OF association are more or less repulsive
to the Aneiicanpcorle. They are notorious for
self-relance, individually, this is the secret
OF their general success. Every man "paddles
his own canoe ard no amount of paper theory
can di.s"ade them from habit of thought that
is part of their nat're. The fari iers are not to
blame Lecarsc the bottom has fallen out OF
Rail Roads and Banks, and they do not feel
like sui jecting the fruits of their labor to the
hazards Of voyage to New York, to be han.
died by the same class of men there, who con.
fcss themselves to be the objects of dstrust.-
If the Banks decline to pay gold for their own
paper, is it probable the farmer will trust them
with the management Of his own grain II
these associations are worthy Of confidence
which would Justify the placing of the crop OF
the great west in their hands, why can they not
procure MONEY to buy it here, and ship it At
their own risk to the honorable PARTIES who stand
ready to receive and sell at New York
Let orr Western Merchants settle with their
home customers, take grain in satisfaction o.
the debt, become responsible 10 the farmer for
the excess (if any above his indebtedness at
the store, and then the consignment may be
made 10 the N. Y. Merchant with comparative
safety to all arties. Tie price could be def
mite, or limited, or at The risk Of the producer
There is no danger of slower deep to the
present market and if we were in business to-
day we would have 10 hesitation in receiving
grain on debts at several cents per bushel in
advance of the present no rice at all. People
must eat, and there can he no hazard in holding
grain at cCrrent rates. The severity of thi,
commercial storm will. as in the natural world
be followed speedily in our opinion, BY clear
skies and good prospects.
There is "a better time coming!"