The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1862-06-05

post-notOrious murderers.
Yours. POMEROY,
Major * Provost Marabal.
CrOakcrs, Hard Times aud the War.
There are many persons among US, who have
heard the statement reiterated so often, and
repeated it SO frequently themselves, that the
business Of the whole country has been pros
trated in consequence of the war, that they
really believe it true. Cracking, is chronic
eorn plant with some people besides, tits con-
tagious. Some persons take it for granted that
the country is undergoing grinding process of
hard times, simply because they hear it so often
alleged by others. 1t is a great deusion for
any one to believe, that the people of the north
are in the midst of hard times, and that the
business of the country is suffering great en-
barrasments. There are no facts in the case,
that warrant any such conclusion on the con-
trary the evidences all the other way.
There has not for many years, if ever before,
been time when the supply of money in the
couatry was greater than now. While the war
has been progressing, capital has been steadily
accommodating, especially in the commercial CEN
ters of business. Money to almost an unlimi-
ted extent, is offered by capitalists, ct unusual
ly low rates. The N. Y. Independent in its com
mercaI article of May 29th, says:
''Tbe superabundance Of money is becoming
actually oppressive. The trust companies only
pay three per cent on deposits, and that only for
prolonged periods Call loans are very easy to
obtain ON good collaterals at to per cent :;
the best single names pass at to 6 per cent.
The deposits III the banks are steadily increas-
ing" ..
The other leading papers Of New York tell
the same story similar reports of the abun-
dance of money, reach us from the centres of
trade all over the north Aad what is true of
the abundance of money in the larger towns, is
proportionably true Of the smaller towns Per-
sons whose observation and position enables
them to form correct opinions, inform us that
the number of money borrowers, is much less
now than in former years, in this section of the
country; and the few who are DESTROYS of Dor
rowing, are generally disposed to offer only a
low rate of interest 1t is doubtless true that
mente, undera vague apprehension that the
present is not an suspicious time for so doing.
But the fact that money is abundantly diffused
through the couhtry, cannot be dsproved.
Nor can it truthfully be said that our agricul-
tural interests al depressed in consequence Of
war. The business of farming has been with
little difference, as profitable during the past
twelve months, as during the preceding twelve
months. Nor is it true that our manufacturing
Interests have been more than ordinarily depres-
sed since the commencement of the war. Some
branches of manufacture have been more active
than ever before during the past year; and
even those which are not employed in furnish
ing 'uppies for the army, are doing better than
during the years 1850 and 1862. We know Of
ma nufacturing establishments in the west, es-
peciaily such as are engaged in the production
Of agricultural machinery, whose propretors in.
form US, they we're never doing better bust
ness than now. The same may be said of the
mercantile trade our merchants tell us that
their business is better this year, than it has
been in some Of the previous years. The reason
of this is obvious every dollar received in ex.
change for goods, is equivalent to a dollar in
specie, or so nearly, as to be scarcely worth cal
culating the difference.
One of the good effects of the war has been
to place our western currency on stable foun-
dation; it has been the means of expurgating
from our banking securities, worthless southern
stocks. The consequence is, every dollar Of
Wisconsin, money is now about equal TO dollar
in gold. Exchange on New York can be bought
with Wisconsin currency at one half per cent.
When have we ever had Gil culating currency
as good as now? One year agp there was a
general cry, that all our western banking insti'
tutions must go to the wall in consequence Of
the war; few worthless ones, based almost
wholly on southern securities went by the
beard; but we have enough remaining for all
the business purposes of the country and more
than this, they are As sound as any in the I'm
lou. Furthermore, it may safely be said, that
real estate among US, has suffered no deprecia-
ton whatever since the beginning of the war.
More than three years ago, real estate all over
the western country, fell down to q very low
figure; the great falling off in the market value
Of lands, occu FRED long before the present war
was ever dreamed of. IL is true that real estate,
particularly in many of our western cities, has
no demand but the causes for all this distrust
in city property, are not of recent date. Years
ago, most of our Wisconsin cities, mortgaged
themselves for half their value these incum-
brances remain, and now because city lots do
not find ready sale, some street croakers who
have short or vicious memories say it is the
war! But it is said we have no great improve
nents in progress the present year this might
have been said with about equal truth last year,
or the year previous to the last. 1t is believed
that on investigation, it will be found that there
are quite as many improvements in progress in
the cities and towns of this State the present
year, as the average of the past three years. In
some of our western cities there is more pro-
gress observable the present season, than at
any period for the last six or seven years. II
the city of Chicago, it is estimated that over
two thousand buildings will be erected this sea
son-very many OF those, are large and expen-
sive business establishments. 1t may also be
said, that there is no lack of employment for
laboripg men; all who are disposed to work,
can find employment at remunerative prices
There may be some mechanical pursuits, which
are not readily patronized, but the great mass
of laboring men, have no excuse for the com
plant of nothing to do.
We repeat it then, the cry OF hard times, and
general uroSfratiop of hpS;DaSs - a dalus;ap
no foundation for such an opinion is found from
the existing facts in the case. The business
panic, to "aateyar extent it may exjss, Is with
cut justifable cause. The croakers may sue
coed in frightening few into the belief, that
We are in tho midst Of business ruins, but SEN
sibIe men, who look calmly at the actual con-
dition of affairs, will 60 forward and find as