Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1858-03-15


candidates, We had no idea that Mr.. Mitch
ell had consented to have his name used in
that connection. If that gentleman accepts
nomination as candidate for any Office in
this city, it will be when that nomination is
made by Democratic votes-not before.
REAL EsrArE.-The great source of
solid wealth is at present at stand still
Transactions are very limited in compari-
son they were last senson and there seems
to be pretty general feeling to keep en-
tirely cool upon the subject, and wait pa
tiently for rest Grafton TO former activity
There is no doubling the fact, that Real Es-
tate of all classes, whether in raw prairie
cultivated farms or city lots, has decreased
in value from twenty-five to thirty. three
per cent. Those who sold their lands last
season at the then high prices were lucky
those who held theirs then and are able to
do so, have no good reason to complain
This is matter which will regulate itself in
time; that time may be farther distant than
some imagine. The call for farming lands
by immigrants will continue with its usual
activity, but land speculators-those who
buy to sell again at an advanced price with
in thirty or sixty days, must necessarily
step out of the ring. Many of that class
have had their fingers sadly burned by the
late crisis, and they must either sell out be.
low cost, or wait for natural and steady
increase. This reduction in Real Estate.
will operate favorably for this country, as
it gives the farmer better chance to pur-
chase at reasonable figures, and it is far
mers We want to hold and till the soil +; not
hucksters who only hold it, and SO tightly
that it requires very strong plaster of
money to cause their grasp to relax. Our
heavy land owners are undoubtedly ready
and willing to sell out their shares at reas-
enable figures-6gures however, which
they would not have regarded but with a
feeling of derision one year ago. But this
feature is perfectly natural.
The question whether lands will eventu-
ally rise to the same prices which governed
the market year ago, will depend some
what upon the future condition of the money
market. The immense amount of capital
which is now lying idle in the East, must
necessarily find employment soon; and what
better place for investing it than in operat-
ing in Western improvements and Western
landA Many Of the projected Western rail.
roads will undoubtedly absorb large por-
tion Of those Eastern funds in their con-
struction, and the building of these roads
and built they must be, will have direct
tendency to enhance the value Of Real Es-
tate, through the section of country through
which they run. The great decrease in the
price Of produce has, as matter Of course.
operated to reduce the value of farming
land. Money will not remove this obsta-
Gle. 1t can only be done by the creation of
q new and extensive demand for farm COM
modities. A War on the Continent; the
failure Of a crop in Europe, would effect this
but in case there should be no increased
demand, wheat will be a long while in
reaching the value of one dollar per bushel.
The amount Of land put under cultivation
this year will be much larger than hereto
fore. and there is no speedy prospect for .
great advance in propuce; hence the pros
pect OF the next crop of wheat, ranging high.
er than seventy five cents per bushel is very
small At that price. there is respectable
profit to the producer, but the prospect
would not appear 60 bright as it would At
the prices which that class of cereals bore
in "a, IS, and Sc.
Western lands are undoubtedly good
property. and will always command good
price, but it will take some time to place
them at the figures which have marked
their value during the last three ysara The
next three months will decide the extent oi
the demand for this year, but We doubt
very much II that time will show 10 any
extensive upward tendance.