The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-04-08

WEDNESDAY; April 8, 1857.
WESTERN Land yynrrants.

Mr.. Greeley, editor Of the New York TIiBple,
IS on tour to the West, and giving his opinion
Of matters and things. In one Of his letters
from Iowa, dated Iowa City, February 3d. he
gives his views respecting the fags f5F speebla-
tion, now g8ing on. 'fhey may be of Interest
to some Of our readers: -.Ft .'' i'iF
'"Almost every one here who isf't gettidg
drunk is getting rich, or thinks he is. The soil
here has so often doubled in market value, that
almost every one who came in more than three
years ago and bought land, now counts himself
at least on the high road to wealth. Many a
quarter section which ives bought for $500 since
1850 is now held at S3oG to ssOoO per lot
said lot containing perhaps an eighth of an acre.
OF course, this is true only of village aid en-
bryo city property; but there is very much un-
fenced, unbrOken prairie, which never had any
thing dohe upon it to enhance its value, but now
held at $iot5 $50 per acre; while timbered
tracts range still higher---and the harvests usu-
ally grown whenever the land has been fairly
broken and TILED, seemed to justify these prices
"StilI, the picture Has its shades. Land spec
ulation, as d consequence of these rapid en-
hancements Of price, has become in epidemic,
which attacks all and will yet ruin thousands
Thg bubble will be swelled till it bursts. A
crash in Europe or oh the sea board--a failure
o'crops, of any great disaster causing co.ttra-
diction or credit and general collection Of
debts, may collapse it any moment. There is
many an operator, who now counts his wealth
by hundreds Of thousands, and confidently ex-
poets soon to reckon it by millions, who will
find himself bankrupt before ten years roll
around unless am much mistaken.
"The more I see Of land Specialization, %hert
its rayagcs are tn5st gehgfai, the less like it..
Here men arc eagerly grasping all the land they
caa possibly purchase, paying exorbitant usury
putting off needy creditors, living crowded il
wretched huts, and letting their children grow
up in ignorance, in order that they may clutcl
more land. I conversed to-day with thrifty
farmer, who came in sixteen years ago, whei
there were not three settlers in this township
and took up choice location, on which he ha
lived until few months ago, when he was obi
ged to sell IT and remove to the nearest vllag
in order to educate his children; monopoly O
lands all around HIM, n rart BIZ non residents
having deprived him of all school privileges
Another pioneer, who came out fifteen years ago
and has since acquired a property worth fifteei
or twenty thousand dollars, said compassionate
ly to his poorer brother who had just joine'
him from New York-"If you had ttme on
when l did, you might by this time have bee
as we'll offas am" EYES," replied the other
'but would not swop estates with you an
have my children no better educated thanyour
are" '--"----a---
a$"Per contra--we may add, that we have re
ceived two Or three papers from the west--fron
Iowa--giving assurances that great opportdni
ties fer investing money, based upon good secu
rity and assurances of the rapid rise in real es
tate, &c. We shall not advise. The west ha
great inducements for emigration, but mer
speculation iaanother matter" ... ...