Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1858-01-19
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AFFAIns IN THE WESTERN SrArEs.-Horacs
Greeley writes to the Tribune, from Chicago.
JAN II. that he has been as far West as Iowa
city. He gives his observations at length,
the most important of which we give he.
low:
The quantity OF grain in the West is great
er than l had supposed. Illinois and Indiana
q think Ohio also) have far more wheat and
corn at this moment than ever before at tbi.
season; Wisconsin probably the same while
minnesota, though she has no surplus to ex-
port has at least double the product of any
former year. And this crop will go further
and hold out much better than hitherto. be-
cause there is an abundance of prairie hay
almost everywhere, for want of which mill
lions OF bushels of grain were fed out last year.
l have hardly found a place outside of this
city where this hay is not for sale at S. or sc
per tun, while it is offered in many places at
~ 90 to So. was told in Iowa CITY that
load which had been vainly offered there at
ali prices down to 81, was finally urged upon
Trend OF the owner for nothing, but he de-
clined to have it pitched into his ward. This
story may be apocryphal, but there can be no
doubt OF the general abundance and extreme
cheapness OF hay throughout this region.
where 1t sold up in some localities even to
$40 per tun last spring, while thousands of
cattle dled Tor want OF it, including some who
had grain in suficency. The scarcity of
stock hogs for fatting is calculated to swell
the surplus Of grain. Wisconsin is buyine
pork by the cargo from Illinois, when she
could probably make surplus, if she only
mad the pigs whereby to convert her excess of
grain into pork. Most of the wheat still
remains in the stack, awaiting better prices,
the growers having no fit storage for it if
threshed.
The spring demand for goods, and espe-
cially tor dry goods, throughout this region,
must be very light. The people are unable
TO pay for half the usual supply, and are so
harasssed by debt that they do not choose to
incur any more just now. A friend asked q
tailor in Davenport how his trade bore the
general pressure. First rate" he replied;
al have more journeymen at work than ever
before, but all mending, facing and reftting;
hardly make new coat" And this must
be IN all departments of trade until the farm
ers can OBTAIN better prices Seeing farmer
standing In Iowa City beside as good load
OF the ONO or gourd seed corn as l ever saw
anywhere, asked him his price, and he an
sWered, eighteen cents a bushel."
thought this cheap enough, but friend as
sured me that it was above the market-ff-
teen cents for corn and forty for wheat being
the rullng prices, and no money to be had for
gram even at these rates Consider that the
ruling currency at Iowa City consists of the
issues of Nebraska Bank, for which neither
specie, Eastern exchange, nor even Illinois
bank notes, can be obtained, except at heavy
discount--ten to fifteen per cent-and not
often at any rate, and you will see that this
price Tor corn barely pays for harvesting and
marketing It, One fourth the amount of dry
goods purchased at the East last spring will
De an ample supply tor the requirements of
the spring and summer of 1865
That the collection of debts should be df-
hcult process when produceis so depressed, is
a matter of course There is scarcely an
Eastern bank note to be found west of Cleve-
land, and any few dollars that may struggle
thus way are eagerly snapped up and sent
East as remittance. Gold is hidden, where
u sui fingers; but very much not only Of this
but OF silver change, has been gathered up
and sent East. Nebraska Bank notes, gener-
ally OF dubious solvency, and uniformly con-
Vertlble into specie or Eastern paper only at
rulnous discount, corporation shinplasters,
ana even individual shinpasters, are the &C.
cepted substitutes for money in most local-
ties west of the Mississippi One of the
hutchinson brothers, who are now here sing
ing their way Eastward from their new hons
IN Minnesota, informed me that he has been
singing along four hundred miles through
Minnesota and Iowa taking grain for music
wherever cash was unattainable, and has done
very well by it.
The most successful mercantile collector of
whom have heard is Boston genius, who
made rule Of taking the best he could get
In every case. If a debtor said, I'VE have
no money here-nothing to spare but grain,
for which there is no price," he inquired
what was asked for wheat and offered to take
MS pay in that; if wheat was not to be had.
ne took corn; if corn was also minus, he
took even prairie hay. Thus refusing moth
ing that looked like pay except fancy priced
corner lots in prophetic Cities he bargained
for the transportation of his grain to some
point where it could be turned or whence it
could be sent East, swapping off his shinplas-
tiers as opportunity presented for something
better /; until at last he reported to q friend
IN this city that he had turned into good as
sets his entire receipts, except one bill which
was subject to two serious objections l. 1t
was on bank in Washington Territory 2.
1t was counterfeit. He thought he could have
traded it in spite of one OF these drawbacks,
but both were too much for him. If | knew
the name OF this Bostonian, would recon-
mend him to some of our New York houses
for an engagement. There will be plenty OF
work for such as he through many months
ahead.
met nobody-and have conversed with
many on the subject-who does not agree that
the system of mercantile credit hitherto pre-.
vailng is dead, so far as the West is con-
cerned. Even if the manufacturers and
bankers of Europe, and the seaboard, have
the means and are mad, enough to seek to re-
initiate the bubble, l judge that the West
would generally refuse. Traders can of course
be found to buy stocks on credit in the great
seaports and bring them out for sale but on
ly the most hopelessly insolvent consumers
can be induced to run in debt for them. Here
after ''pay as you 60 will be the rule, to an
extent hitherto unknown. And as the bank
ers, who have heretofore bridged over the gulf
between producers and consumers Of fabrics.
are mainly broken, and as but few of the Eu-
ropean manufacturers sell on other credit but
theirs, do not see how the commercial Dagon
is to be set on his pedestal again. ~.
FARM BUILDINs-THe CAsapsst Barn.-At
a Farmers Club lately held in West Spring.
field, Mass. after consultation and debate, il
was decided that a large barn was better than
two or more small ones that a tight barn was
better, even for badly cured hay, than an open
one; that brick barn and a slate roof were
the best and cheapest for man who has all
his materials to buy; that good connection
between house and barn is covered walk,
overhung with grape vines; that economy Of
roof and convenience for work were Of the