, 1864-08-26

Extract from Letter from Eastern Iowa.
A resident of Walla Walla permits us to give
the following extracts from aletter just received
from Eastern Iowa, dated July 10th, 1864:
"Times are good here Farmers get big pri-
ces for everything they have to sell-have pien-
ty OF money and are generally out of debt
Gold is from 23O to 240 premium, and on the
rise. This war has been God send to all those
who were indebted to the school fund enabling
them to remove encumbrances from their farms
which otherwise they never would have been
able to do There is scarcely farmer in South
ern Iowa that two years ago was not in debt to
the school fund for gold and silver coin, bor-
rowed years ago from that fund When corn
was ruling at from ten to fifteen cents per bushel
It took all their surplus to pay the annual in
terest, but since corn has risen to seventy-fve
cents, and everything else in proportion and
greenbacks gone down to forty cents, they can
now pay OIL the principal almost as easy as they
could pay the interest three years ago, and they
have very generally done so, and there is now a
large surplus in the Treasury begging for bor-
rowers but no body seems to want any of it.
R--n, whom you will recollect, owed the fund
$4,000. From 1858 down to 62 he cultivated
elghty-hYe acres of ground and it crowded him
every year to raise enough to pay the annual in
terest. From the products of the same ground
IN consequence of the increased price he was
enabled last year to pay one-half the principal,
and this year can very easily pay off the bal
lance. So that you see this "cruel war " which
has been general curse to the nation at large,
mas been blessing to some individuals, ena-
bling them to free themselves from a load of
debt which would have eventually crushed
them. rsf-ea' H.r %
In the way Of politics an intense excitement
exists throughout the Western States. "Loyal
Leaguers are destroying the property of men
i've times more loyal than themselves, and a
spirit of vengeance is being awakened against
them that ere long will manifest, itself in open
violence, and rebellion exceeding in fierceness
the " "slaveholders' rebellion" will be Inaugural
ted in the North Western States You have
heard ere this of the discovery of a vast organi-
zatioh under the name of "American Knights ="
That such organization does exist have no
doubt but that it is in sympathy with the reb-
els know to be false Itis intended to be used
Tor putting down fanaticism North and South,
and will, when fully equipped, say to each class
-"Thus far shalt thou go and no farther"
The .adherents of Mr.. Lincon's Administra-
ton have used the little brief authority which
chance has invested them with, to oppress and
villify all those who differ with them. So long
as they fought the Democratic party openly
there was nothing to fear, but they soon aban-
doned fair, open fight, and banded themselves
into a secret league, and when honest men were
quietly raPosing, iheysin the dead hours of the
night were planning INV they would rid the
country Of the presence of soiaa influential DEM
pcrat Resolutions were passed, sod charges
preferred against different persons throughout
this State, and upon the information thus fur
nlshed to military commanders at Burlington
and st. Louis, men were seized and taken to
St. Louis, and in some instances kept for eight
months without knowing why they were torn
ha of tbnir 70
when they return and find out the authors of
the wrong that has been done them, naturally
feel spirit of retaliation and are ready to Join
a counter organization, formed for the purpose
of insuring every man n trial upon the charges
preferred against him before allowing him to be
hurried hundreds of miles away from home, and
apprehend that it is for this purpose the
american Knights" have banded together and
not for the purpose of overthrowing or in any
manner interfering with the legitimate exercise
of the power of the Government in putting
down the Rebellion" -.osib