Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1867-12-09


published In the New York tribune, We
make the follovin. extracts
In the west, the child is born which will /
live to see cotton come directly out IL the !
Mississippi, aud wool directly GU. Of the
firmers barn, 10 b. woven Oh looms made
from the ores # Missouri and Lake Superi-
or iron. simultsue usly, the wearing sp
parel Of . people, with reconstructed am
bition, will be woven on looms run oy
streams pouring from the Cumberland
Mountains into Eerih Carolina, Virginia,
Georgia and Tern see. For the good Ct .
whole country, when developed, only par
tcular goods should be landed on our
shores 10 cIoss the waters Of the Hudson
and tue Susquehanna, and the main traffic
for New England should be. not with the
west, bus with the islands and countries
reached by sea. Even articles, nov worth
many millions. which formerly we're pro-
duced 10 New England, are sent 10 the low
cv Ai-sissippi, to the Plains. and over the
Rocky Mountains from the workshops, the
furnaces an | factories Of the three great
cities Il the west. Nor 10 il western, It il
New England men Who control this trade,
and who have gone west TO be rear their
customers, the same 40 British manufac-
turers are crossing the ocean to be nearer
theirs. When the natural advantages and
the soil of the States Of the Mississippi
Valley shall be developed equally with the
State or New York, their population vii!
be about as follows:
| Ohio %, 900 600. Iowa. ....5 ,ooV.oop
| Michigan 4 o0e. 600. Nebrs-ks... -, 10000
| Indiana 4 eoa ZOO WestNirginis. 7. COS, 90
| Illinois go 900 Kentucky .....3, op0.o y
| Wisconsin q ro5 o9J. Arkansas o,tel
u,ssou,, =, ono, 900. $4,000, 900
| kunsA- .o0o,oco.
The great American desert 10 fading
away magnificent country il about ID
be opened 300 miles west OF the mouth Of
the Platte 1t is true that new methods Of
tanning will be required, ard among these
will be irrigation, boring of artesian wells,
and the planting Of forests. knowledge OF
! a practical character has so increased in our
generation that what were obstacles thirty
years ago are not such to-day. In q col
lective sense. our national perceptions are
30 enlarged that men in common life quick
| ly take into view small objects o. well - re-
mote ones having connection With each
other, and being possessed oi ability to ex-
ecute, they triumph where their forefathers
despslred. Hitherto. wherever the red man
and the buffalo lived, the white man has
planted gardens and orchards, and bounded
the horizon with fields Of grain. The plains
have rs many natural advantages as Judea,
once a populous and favored land. With
the fertile soil, and the unchanging climate
Of the interior, with tae help Of industry
and mechanism, there is no reason why II
should not present rural and village scenes
~ fair N any other the world can show
Long after the commencement Of this cen
fury, the grand prairie OF Illinois. now rich
in farms. and unequalsd by any beneath
the sun, was supposed foseves uninhabita
bio.
Tvs report Of Mr.. Hubbard, Comptroller
Of the Treasury. is, in the views expressed,
in accord with the financial views of Mr.
McCulloch.
The Comptroller first enumeratcs the
number Of Banks in existence, their capital
and circulation, IS follows:
Number Of banks ......... l.e7l
| Capital paid IN 1f2s. 1874 sol
nonds deposited. ................ 3A".b.5 90
Notes issued. ..-............. "N@, FeS,''
Annual circulation ................ 2as. Jos, s9t
Ten National Banks have failed The
note holders are secure. Other creditors
viii realize about seven per cent. He ia
vors monthly, instead Of quarterly, reports,
aud advocates the establishment oil one
point of redemption for all-New York
The system of paying interest on deposits
is condemned. and legislation on this pon,
~ urged.
lie thinks the banks which pay taxes
ranging from four to seven per cent. in thu
aggregate, upon their capital, bear full
share of the public burthcn, and that they
cannot pay more without increasing the
rates of interest charged to borrowers. II,
argues strongly and at length against III,
proposition 10 substitute greenbacks foI
National Bank notes opposes initiation Of
the currency, and urges gradual contrac
ton. with = view TO the resumption o.
specie payments at an early day. His az
ures show that the Government would lose
% ,000, 900 . year by substituting green
backs for bank notes and states that tn,
non-intcrest bearing notes constitute Oh,
dearest loan the Government has, in conse
lueace Of the high prices il pays for ever,
article Il buys, which is the result Of an in
tlated currency.
Revolving 1DfscOv cries I'm she City
| OF Mexico