Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-11-17
DAVENPORT. NOVEMBER IT. 1857

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A Voice from tho West---A Few HON
Truths Put to the Boston People.
The following letter from Western
merchant we cut from the Bostol
Post:
Henry County, H., Nov. 3, 1857.
1Messers. Editors | saw "A statement
IN your monetary article in the week.
y Post of October, saying that the wcs'
would never pay > per cent. on then
eastern Indebtedness. Now, Colonel
this is one of the widest statements
ever heard Of your making, and | am
shamed ofyou for making it. To show
you are mistaken, look at the condition
of our despised western currency com
pared with yours, and look at the
weekly list Of failures; while Illinois,
Wisconsin and Indiana show two to
five week, New England aud New
York count them by hundreds. The
fact is, you have always played a dog
In the manger game. ! have more
than once had New York money re-
fused in Boston on accounts, ami west
crn money they would not look at
Was there any reason for ii but sell
fish, short sighted policy 2 Was there
ever day in the last fifty years that
some Of you did not owe debts in New
York. has there train left in the last
fifteen years that some Of the Boston
merchants were not going TO New
Ycrk, who could have taken that mon
cy and pald those debts once offer
cd some New York bank bills to
New England b.nk in exchange for
their own, and p.45miscd to take theirs
TO Illinois and pn, them in circulation;
they refused, though | made the offer
thinking It was an accommodation to
them. The fact is, you and the New
York folks are jealous Of each othc,,
and are a little ashamed Of the finan-
cial ability you have displayed, and
wish to throw the blame on the west
crn merchants.
If your banks had taken our despis-
ed western currency, and sent it home
for coin, you might have hurt our
banks, and possibly put them where
yours are; but had they taken in the
spirit that the business ought to be
done between the east and tho west,
and sent it out to pay for our products
or loaned it to those who would have
gone into it lyon may say that would
not be legitimate business for banks,
but are they doing legitimate bust
ness now! some ofthem might have
been saved from suspension, for that |
would have enabled the west to have
met their indebtedness ut maturity
We have the means to pay every dol
lar We owe, but think it belongs to you
to furnish the means to get it forward.
He'd your merchants doing western
business when they first felt the effects
OF the'prcsent storm upon them, sent
one OF their firm west, let them have
gone to each of their western custom
ers, told them I'VE are hard up; can
you help us-wc will take your currcn-
cy at par. the response, | will venture
to say, would have been 'Wc are clad
to have the chance to pay all that is
due; and MANY would have anticipat-
cd from one to three months without
charging for it other than saving cx-
change. You ask what could they do
with our Illinois, Wisconsin and Ne
braska currency. Go to Chicago, or
where it was current and purchase
flour, wheat, corn, oats, hides, DC, ship
them home to pay debts. Suppose
you lose fifty cents per barrel on flour
and ten cents on wheat, is that any
thing compared with suspension, or
having their estates settled by an in
solvency court Suppose you lose
your years business, and are worth
no more next April than you were the
1st September last, is that anything to
be compared to having your business
settled by chancery: You would have
had the consciousness of helping lay in
a supply for the winter to keep your
millions of labores from starvation.-
For proof of what | say, and to show
you am in earnest, | would say that
l have thus far paid every dollar at
maturity, and can prove it 10y Boston
merchants, and am not in better stu
alton than others and to meet paper
coming due this winter, when we ex-
pect exchange cannot be had at any
price-it is now 10 to Is per cent. |
have bought in Chicago some first rate
flour and shipped to your city, on
which expect to lose fifty cents per
barrel, and shall do il without grumbl-
ing, but still think it belonged to the |
East to have bought our produce here. !
If lose the fifty cents per barrel, l |
will have the CONSCIOUSNESS of doing
what l could to rav my honest debts,
and to help kcap your mechanics and
laborers from starving this winter. 1t |
is too late to profit much by this ad-
vice this fall still, sending flour, pork,
beef hides, &c, by railroad, is better
than failures.
WESTERN MERCHANT.