New-York daily tribune., 1865-12-02

Rtntcs--Enormous Rates Of 1ntercst-
Hostility 20 Lanufacfures and Mining
Farming on the Sage Brush-A Great
success-Immense Yield Of Grain-Maii
and Telegraph Communication nc
opcucd Across the Consinent-Its hni'
uor,auce-siIvcr Lends I'm Utah-(euick.
est Trip ON Record.
From Our Special Correspondent
GREAT SALT LAKE CRY, UTAH. }
Monday, Oct. 9. 1862
T. was once considered impossible to intro
duce paper currency in any region where tho pfonuc
ton OF gold and silver was tho leading ihaus'Fia'
nterest Tho prejudice against paper Is always IN
tensely bitter in such communities In California ''c
State Consultation directly prohibits banks OF Issue
But In Colorado exclusively gold and silver inning
State thc National currency has been adopted WIN et
coent results. Soon IL " Il be tested on the 'aoi'''
Coast A National Bank 10 about to commence ope'
ton. a. Austin Nevada, and another 81 roruh'''
Oregon At its neat session the Nevada Les''a''u'e
will probably repeal the "Speciho Contract Law au
,n California. during the coming Winter u strong
effort will DO made 10 abrosste the same S'a'ue, p.
:. donbtful whether the times arc ripe for ii. This law
snnv reouire, that debt shall be paid in gold wher
tho coursot between debtor and creditor expressly
! H.,
nm. far preyeuted the adoption of the currency.
Those opposed TO the introduction Of paper urge first
to, ,he volume Of precious metals circulating In the
,od .nA silver producing States aud Territories Is
annie TO transao. their business and second that
while in the East tho appreciation of gold above paper
WIS so gradual that It caused no general suffering
among business men all interests adjusting themselves
r,ootb,v to H. and the loss being distributed among al
cascs the depreciation Of paper is now so great 'ha
e.. ,uaden Introduction would impair the validity ol
oontract change all standards Of value and iaauSufa'e
e,orci,l confusion and disaster. SO San Franc CO.
which controls the whole Pacific Coast opposes TIC
psper currency or rather. the bankers. importers
snecustors and some other classes OF heavy Dusnes
men who control san francisco oppose 1t.
Dut oatsilo of that city AMI among the masses gen
orally tic feeling In is favor is growing very strong
Times are hard and tha, always makes the people looA
with favor towyrd any proposed change An irresisti
BE popaar argument Is found in the fact that whic
Ca,oi MIA las suffered nom business depression scar
city OF .plt-l and acouEnlhtng Gebs the oGer 9'ate
have seen money plentiful, mortgages IefAostu' ''
people Freeing tAerselyc, from deo' ana cap''h Oes
zinc or1-crtuni'ica COZ investment.
Jhe. 's not that harmony between The banking aud
commercial manufacturing, mining ana farming Insel'
cts waich exists In financially hca',hy eo.hnucs'
There seems to be no harmsny at ALL bat strong anta
or sn. Much Of tho hsih-ps capital y IN 'oIeib"
hnnds. Indeed there is cMo,raliyely little banking
! lgt n gYe
ought 10 take down their igns and hang out the three
gollen balls Tho great manufacturers in eoth ana
iron large farmers and Leading miners OIL eoihplai
that instead OF fostering these Young but vital
by which these States must live, the banks are D-
tcrly hostile TO them. The fault may not be with the
bankers but the fact IL there In California, on good
securtes money commands from TO 2i per cent q
month; IN Nevada and Idaho from to per cent.
often compounded monthly. Within the last ten yeefs
"A man In Virgnia City, who is not worth dollar to-
day las paid than half million dollars OF interest
money. , 4,
within "A given period not single case oi starvation
had occurred in Scotland he replied: THAT is not be
cause food is plenty but only because you can't sarve
a seotcamanh SO if these rates OF interest do not
prove utterly ruinous. 1t 10 only because the regions
where they prevail rich that 1t Is possibe 10
ruin them. The introduction OF paper wall at least
w the volume OF and thus mitigate the evi
The entire Pacific Coast offers unequaled Inducements
Tor Eastern capital Millions could be loaned. at large
Of interest upon security Just a good as real es
tate in New.Nork City,
Hitherto no grain worth speaking of has been raised
between tho Utah Basin and California and the expense
of trer spora.on Las made It's cost on the
broad intervening belt OF desert and mountain Last
year the Overland Mail Company paid % cents pound
for all tho grain they used on the 400 miles o. road be-
tween this city and Austin Their line Is most ber'
ally stocked many of the routes requiring SIX horse
teams. and each animal consumes daily from IL 20 10
pounds OF oats or barley Now they begin TO raise
their grain instead of purchasing 1t. Last spring at
Ruby Valley. station midway between Salt Lake CITY
and AUSTIN they plowed sowed and prepared to irri
gate $40 acres The experiment Is great success.
Ik0ugh sOd ne Odts dHd odItey gc
frs arerage ry bushels 10 te acre end upon No
hundred acres ffsy bushels ne acre. The company
raise than 2 bushels OF grain beside potatoes
enough supply their little army of epioyts for the
entire The farm reduces their expenses isr the
first year fully $4,000. But its chief value is that il
viii encourage ohers to follow the same calling upon n
smaller scale. Ruby Valley contains much excellent
land which is unoccuped, aud offers strong induce
monts 10 immigrants sho wish to engage III farming
Tie simple introduction ot water l. said to render the
most seye lands Of Arabia fruitful 1t certainly has
that effect upon all The deserts Of our continent.
Much ot California IL irrigated rom wells by wiamils
Upon the great interior deserts streams and n nl-
most unknown. Wells must be very deep and no sim
pie and cheap machinery adequate to drawing up tie
water Is yet invented. But want imperous 10 Ger
tain 10 be supplied. and in time these thousands and
thousands OF miles OF sage brush and Rrcase~ood,
dwarf cedar ana cactus sand and alkal nom British
Columbia 10 Northern Mexico, and from western
Kansas to the Sierra Nevada viii Blossom the rose.
For the last three months mail communication with
the East hrs been constantly Interrupted ana indeed
practically closed by Indian trouble 10 10 now re-.
iumed; the mails arrive with considerable regularity,
and receive NewYork papers only sixteen days old.
The telegraph too Is again open across the Continent
and Gen. Connor has Just whipped the Indians thor
ougy In three battles there Is to hope that "
may remain For the present, kilograms and over
Hand letters may be sent to Salt Lake, san Francisco
and all points on tie Pacific Coas, with reasonable
hope OF their prompt reception. The Government as
been dorclic III ts duty III allowing these great ariera
routes To be closed so long Now that the war Is over
End troops plenty there is no excuse for IT,
Ii seems impossible for the Eastern rubc 10 eompre,
hcnd the vital importance Of the Overland Mali ana
Teles graph to these isolated States ana Ioiitores
Here great mining enterprises when require uauy
elesapbc % with "st ""
they will soon rank among the very first industrial IN
tcrests of the country. Already they are OF vast I'm
porinnce in keeping up the supply oil precious mets'
There ale half million Of people on The fneinc slope.
and N Utah Colorado and Montana. Every business
man among them without single exception, Is more
or less ,ependcnt upon the Confidential Mail and rec-
,,onb ( tou thonsnnd add ltioull troops wisely dis.