The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1859-08-16
For the Gate CITY
Horace Greeley and the Future OF
kookuk.

Horace Greeley combines to an extraordina-
~ degree tho prophetic vision Of the sage,
with an unsurpassed practical knowledge Of
the general affairs Of the world. With the
affairs Of the United States, in particular,
he is remarkably familiar.
In one Of his Kansas speeches, last May,
he said ssthe age Of illusions had passed with
him." but that fact did not prevent him from
speaking Of this part Of the world as 'the
vast and teeming West, that Graded Hercu-
les, destined to eclipse the widest anticipa-
tions of it's coming greatness and power"
That the densest population Of the West
will be concentrated in the immediate valley
of the Mississippi, il proposition that is
acknowledged by al and those towns on the
river which have only slight natural advan-
tages over others, will'greatly outstrip their
rivals in composition for rapid growth and
prosperity. Now If ssthe vildest ant;cipa-
tions Of the coming greatness and power Of
the West are destined to be eolipsed,o as
man we'll along in years, Of mature judgment,
and Of almost unequalled statistical knowl-
edge with regard to the United States, pre-
diets, there cannot be much doubt that
place combining such remarkable natural al
vantabes as Keokuk possesses, must be one
Of those particular spots that is destined to
more than realize the widest anticipations in
regard to it. Notwithstanding the cloud
that now hangs over it, it 10 not unreasonable
to suppose that in three years from the pres
ent time (takiDg for granted, Of course, the
completion of the railroad to Ottumwa,) real
estate in Keokuk will command as high pri-
ces as it did two years ago, and as prosper
Gus condition OF things generally will exist
here as prevailed then. 1t is admitted on all
hands that there was not sufficiently sub
stantial cause for the sudden arrangement in
finances two years ago. There was greater
disproportion Of 'spanic" to real unsoundness
in the business affairs Of the country than
ever before entered into a cause producing
such disastrous results. The depression in
all kinds Of business, and the consequent de-
crease in the value Of real estate that followed
that arrangement, were, however, substan-
tial enough. But the fact Of such a revul-
sion not having sufficient basis, the effects Of
it will inevitably be transient instead of per-
manent.
To show how rapidly certain States once
recovered from very hopeless condition Of
financial depression, ! copy from "Martin's
Stock Market" the following:
"GRKAr ADVANCE IN STATE Srocxs.-The
rise in State securities from 1912 to 1874 Was
exceedingly large. Ohio 6's rapidly ad-
vanced from 48A to 1929 Illinois 6's, 143 to
As Indiana SIS, l63 to 493, and so with 9TH
ers. Pennsylvania SIS and Maryland 6's,
which had been down to 40 and below so,
respectively, rose in one year to So and 70 -
More recently we find Pennsylvania SIS sell
| ing at OH ex-dividend (Jan. 1852 equal to
par, and Indiana SIS at l0l2, March, 1854
The same Illinois bonds which fell to la in
/ lS42, touched par for the fret time in their
history, (after being issued,) about July LIST
1855, "a cheering fact for every sucker a,
said q Western paper. Sept lst, they had
still further advanced to l063, the highes
point"
These facts, although familiar to many Of
your readers, probably are not known to then
all.
i The bonds Of Keokuk have never reached
so low point as did those Of the State o.
Pennsylvania, even. There is a good dea
said about the reputation of its indebted
ness by some town in New England. Their
is but little doubt some "higher" law viii
pronounce that Reputation unavoidable
The Indebtedness to Europe Of the Unite
States, including State, county, city, railroa
and other corporations is said to be abou
, four hundred and Fifty millions of dollars
The moral effect of the successful repudia
ton by single town would be more dana
ging to the whole country than SCORE 0
) such towns as the repudiating Connection
one would be worth.
On this subject Of reputation, Martin ha
! the following:
"The only regulating State in the Unto
10 Mississippi, . disgrace to the Confederacy
AZ che still persists in refusing to acknowl
. edge her Indebtedness, though able to liqui
date it. A large portion of this same repu
dated debt was issued to its unsuspectip
victims at thirteen per cent premium, all Q
which went into the Golfers of her treasury
1t should be stated, however, in justice s
her citizens, that they subsequently voted i
} favor Of paying the debt, but were override
BY tho courts" NJ.
Lysander w. Dabbiss.
This Democratic candidate for the ONCE o
!, Lieutenant Governor is sued by the Unite
, States Government for q defalcstion. TIL
. anti in handing in tina IJnitAd StatAa Distric