The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-04-01
NUMBER IL.
Western Land specuia.ions.

Mr. Greedy, o: the New York Tribune, 10
on tour 10 the Wes, and giving his opin.
iors on matters ard things, ia ono Of hls
letters from lows, dated Iowa City, Fsbfusry
Sd. 1887, he gives hs views respecting the
rare for speculation, now going on. They
may 10 OF interest 10 some Of our read
srs--
"Almosl every one here who isn'i getting
drunk Is getting rich, or thinks he is. The
soil here has 30 often doubled in market
value, that almost every one who came Ia
more than three years sgo and bough, land,
now counts himself at least on the high
road Of wealth. Many a quarter section
which was bough. for 5000 since 1850, 10
now held at 5000 to 90 900 per Iol--said 10,
containing, perhaps, m eighth of sn acfs.--
0f course, ihia is true only Of village and
embryo city property; but there isysry much
unfenced, unbroksn prairie, which never
had anything dons upon It 10 enhance its
value, now held al $40 10 $40 per acre; while
timbered tracts range still higher--snd tho
harves,s usually gtown whenever the land
WAS been fairly troken and titled, seem 10
justify lhsss prices.
"Still, the picture hes ito shades. Land
speculation, as a consequence Of these rapid
| sGbancemenis Of price, has become an ep-
demic, which attacks all and will yet ruin
thousands. Ths bubble will be swelled till
II bursts. A crash in Europe OF on The SEA.
board-a failure of crops, Of any great dis
aster csusirg a contradiction Of crsdi, and Q
general collection Of debts, may collapse il
any moment. There is many an operator,
who now counls his wealth by hundreds Of
thousands, aud confidently expects soon 10
reckon it by millions, who will find himself
bankrup, before ten years roll around, unless
am much mistaken.
The more I see OF land speculation, whsrs
It's favsges are mos, genera, the Iess like
1t. Here men are eagerly grasping oil the
land they can possibly purchase, paying sx.
hofbiiant usuIy, putting of needy creditors,
living crowded in wrechsd hurr, and letting
their children grow up in ignorance, ia OF.
der ths, they may clutch more land. con.
versed to day With q thrifty sensible farmer,
who came in l6 years ago, when there were
not three settlers in this township, and took
up choice location, on which be has lived
I'LL lew months ago, when be wss obliged
10 sell it and remove 10 the neates, village
10 order 10 educate bis children; monopoly
o! lands all around him: in par By por-rssi-
. dents, having dspfiEsA him q! al aehosi
! privileges. Another pioneer, who came og;
! IS yesu age, sud has sioce .cquire3 prop.
cry worth fifteen or iNeaiy lh0usaad dollars,
sad compassionsleiv to his poor bro'her y ho
tad just joined him from Neg York-@lf
yoc bad come GO, when did, yoa nigh.
BY his lime haze been ss veil Of a. an -
"Fes," replied tie o:hs'; @bai uoaH aps
sWop ezaies with yoa and have ny etistssa
no be:iet e1Gcaisd ihaa yo1is s.e"
Per eonirs-ze may sct, that us ksrs
received Izo OF ihres pspsn from he zesa
from lo~a, giving ssscranees Ia; srsas
opportunities for isVesics Hasey, bzss1
UPoa good sseuri'y, s-d asssrzrees si Ias
rspii ra.ss ia ihe Rszl EssHs, Lc We
sha!i not advise. TIE ssa has zrea: L.
dacenenls iof enisraisoa, bot E=ss spssa-
ialoa - aa5saer nz';s,-