The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1860-02-02
New York Correspondence.

will try and continue thsm, though have
to snatch some oil the hours devoted to sleep.
IL il with pain hear that Mr.. Howell u
not as well. His affection has been severe. /
hope his life may be spared. He and bis
family have my sincere sympathy.
Two-thirds of the winter 10 past, and spring
will soon open upon us. Time passes 30
swiftly that most Of US are found unprepared
for the discharge of the duties that the re-
turn of successive seasons lays upon us; or,
In other words, the work Of winter 10 seldom
done when spring comes, nor the work of
spring when summer returns, and 30 with all
succeeding seasons till life ends.
The people Of the West, and especially
Iowa, have been severely tried for almost
three years. The crisis which swept over
the land like tornado and dissipated so
many fortunes, earned by years Of toll and
devotion to business, causing agony and
poverty, was not, after all, az severe for
Iowa as the frowns Of Providence in blight
ing her harvests, and thereby reducing her
citizens almost to o point of starvation. The
worst pecuniary calamity that can befall an
agricultural State like Iowa is the failure of
her crops.
have just read with much pleasure the
message OF Gov. Lowe and the inaugural of
Gov. Kirkwood. Both of them do me proud
The remarks Of Gov. Lowe on the future of
Iowa, her resources, etc., are very appropri-
ate, and will assuredly come to pass. The
obloquy of which he speaks being heaped
upon her by Eastern people in consequence
OF the utter inability of her citizens to meet
their liabilities promptly, is very true; bat
can tell you that oil the obloquy has not
enansted from the East, as evidence often
appears here to prove.
But the people Of Iowa must not be dis
couraged. There is great prosperity in store
for them. Nothing but the failure Of crops
will prevent Iowa within three years from
occupying the most enviable position, fnan-
cially and otherwise, Of the Northwestern
States. She is already right, politically,
having, very soon after the organisation of
the National Republican party, crushed out
Of power modern Democracy within her bor-
ders, so that you may reasonably hope that
the great majority Of immigrants TO the State
hereafter will, at heart, enter it Republicans,
who will add strength and power to her de-
mands for free soil, free labor, and free
homes.
But ! did not design to run OF on politics.
! know that great many of your people are
yet embarrassed, bat they should take cour-
age. Ihave heard many farmer in Iowa in
early times say that if the time ever came
when he could get so cents bushel for
wheat and two cents pound for pork, cash,
he could make money, and would be satis-
fed. Keokuk we know has suffered severely,
bat Keokuk, too, will recover and surmount
all her difficulties and again be prosper GUS
Other cities have passed through similar try
ing ordeais that Keokuk is now experiencing.
What was the condition of Cincinnati in
| 1851? That great and wealthy city of the
present day was then crushed by financial
embarrassment; oil the banks and most oil
the merchants of the city failed the United
States Bank discontinued the branch there
and think with an estimated loss of abou,
two millions of dollars. All they could ge,
| from debtors was real estate, 80 that they
soon became the owners of q vast amount in
and contiguous to the CITY. This they Of
fered on any length Of time the purchase,
pleased to name, with six per cent. interest
! verify believe that could have purchased
an amount on which, without paying q dol.
| lar, could have made o million OF dollars
before could have been legally Invested OF
the title by foreclosure or otherwise. Blu,
there was no price for property--there was
no demand for tit could rot be Sold
Some OF the large property holders Of thai
day, and at q more recent period notable and
wealthy citizens of that city, were only saved
from utter pecuniary ruin by valuation Law
which existed then, as now, upon the statute
book Of Ohio. This prevented ruinous
sacrifice Of their property. Property soor
returned and real estate was In demand and
began to advance, and the result was tina,
property holders were soon able to dischargs
all their obligations in full, and had com.
potency left. And the Bank--such was ths
rapid advance in real estate--not only made
up all her estimated losses, but larg,
amount besides. So that in the end it turned
out onehaof the most profitable branches Of
the old mother Bank.
In the winter of 1897 the price Of porl
there was about two dollars per hundred
-four two to two and half dollars Der bar
rel and everything else in about the sam.
proportion.
Compare this with the prices which hsv.
ruled in Iowa this winter for all the productl
Of the farmer, and every body must be con