New-York daily tribune., 1858-12-25
NOTES on THE WEST.
nee Of The " Y. Tribune


of 1859 are soon to be opened. [ have beer look
ing and iSquirpg through the region bordering On
Lake Michigan for week past, aud shaii dr'' 70
the next week to that lying between the ii'n'i'
and the Mississippi l stal PROBABLY W.T." asa'u'
and from fuller information, at the c'''' VI 'na'
week; meantime, let me sum up ID! present I'M
pressioDs.
The West is very poor. think a larger pro-
norton of the neonle Of Michigan, Indiana Illinois,
Wisconsin and Iowa, are ubuer 'ne harro" now
than at any former period. There IS DO real lack
Of money provided one has wnerewth to buy 1t;
and WHIST masses for money is better article than
tbs, which usurped the name a year ago. bot real
es.a.e mortgages, railroad stocks and bonds notes
of hand, and promises of all kinds, are not the sort
of property that easily tempts moneyfd man to
open his safe or bis pocket-book. There is on all
hands such a superabundance Of debt of varions
kinds that promises are aorug, and faith in human
sovepcy rady .lloyed by skeptcis q. Very many
want TO borrow; very few are anxious to lend no
matter at what rate or on what security. Rail-
road, partly constructed, and there stopped for
want Of me ans-blocks Of buildings sditto-countes
and cities involved by the issue of Railroad bonds
and practically Observation-Disclosures trying TO
stave of the satisfaction Of debts, obligations
judgments, execufoDs-such is the all but unver
ssl condition. Add TO this that very few seem at
present to be thrivlng-that travel on the Rail-
roads is reduced to a point that, 10 many cases,
will not pay running expenses-lhat hotels (aud
Chicago alone has half dozen better than any
New. York could boast prior to the opening Of the
AstOf, while one, the Newbail in Milwaukee is
barely exceeded by the very best IN America or the
world are far from full ard you have faint out
line Of the general depression. Among any other
people but ours, such Il revolution from the buoy
ant hopes and brilliant prospects Of two years ago
would sink thousands in despondency and utter
mental prostrston and drive hundreds to suicide.
"It never rains but it pours" The times would
have been hard at best since the West is so gen.
orally and deeply in debt; but the weather and the
crops of 1853 have wsde things far worse than
could have been expected. Rain--ran-rain-
through the season Of planting ard sowing the
season of wedding and tilling the season of harvest
ing and curiDg-bas seriously restricted the area
and the efficiency of cultivation and sadly dimn.
isbed the reward of the husbandmsn's labors |
should judge that there were as nany foul as fair
days in the average throughout the Free West dur
ing the months of May, June, July, August, Octo.
ber and November last When the fields should
have been mainly worked they were for the most
part bOgs, over which it was useless to drive the
miring horses and cattle. The yield OF Wheat
throughout this region wi, average less than half
crop--say six bushels to the acre-that Of Oats is
decidedly worse-that of Indian Corn perhaps two
thirds Of a crop, and may be three-fourths. OF
feed for cattle there Of course enough through
The warm seasoD, aud presume there is enough also
for Winter OF Vegetables, there was a fair aver
AGE Weld to the diminished area planted. regret
10 add that the seeding Of Winter Wheat for next
years harvest has been quite limited. IL - GER
tainy within bounds to estimate the aggregate crop
of these five States as worth less than an average
one BY at least One Hundred Millions of dollars
in other words, their people are so much short Of
what they had reasonably calculated to be in their
ability TO lioudate their debts from the proceeds of
their labor in 1853. How this bears upon eSery
department of Industry and Business need hardly
be bnted | estimate the current receipts OF the
Stores Hotels and Railroads for this Winter at less
than baf what they will be in seasons of fair ordi
Diary prosperity.
OF course, it is idle to grumble, to scOld or to
sue. Men can't pay what they have not, ard have
no means of procuring. You may deprive them of
their means of earning and ever paying; you may
use up what little your debtors have in useless law
expenses; but if every debt due IN the West were
sued tomorrow, and its collection pressed with the
most merciless rigor. doubt that payment would
b. much accelerated.
Yet think some good might be effected, some
mischief ayerted, by the general establshment-
becinrine at Chicago, Milwaukee, Dubuque, and
gradually extending to every city aud ccunty'seat-
of what will term Clearing House for debts
For instance, A owes from $50 10 $500 TO Is, who
owes like or some What larger or smaller sum to
C.. who owes likewise to ID, who, very probably, Is
indebted to A, and so ca. Everybody crowds
everybody, being himself crowded, yet nobody can
pay; hence general embarrassment, discomfort
PARALYSIS. Let Clearing. House for debts be
established, charging one per cent or less for
arranging large sums, aud two per cent ior small
ones. and thither let every man who owes and Is
owed repair with his notes and a list Of those
owed by him, and leave the two to be adjusted by
the manager of the Clearing House so far as
pos.ible. If all the uncollectable obligations IN
Chicago for instance, were thus brought together
in the hands of competent and upright manager
i believe a laIge percentage Of them might be
made 20 offset each other TO the sensible relief of
The persons interested and the advantage OF the
entire community. Very likely, some mortgages
might be offset under this system; while others
might be used in balancing notes of hsni and other