The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1869-11-19
Commercial il u Il EinaR e ial
FRIDAY, NCy. 10, 1850.

FRIDAY, Ncv. 70, 1850.
I At no time sinccthc great financial
commissions of 1888 and 1857, has the
condition Of the money market and
the prices of farm products been so
unsatisfactory as at this writing
Business men everywhere are wait
ing and watching with brcathless
anxiety, the elimination of tho great
financial calamity that threatens to
cngulph them in its vortex. Farm
ers, especially in the west, arc in
dcbtcd to an extent that will almost
involve them in the same genera! ru-
in. Capitalists are also distrustful
; of the future, and demand ruinous
rates Of interest for the best COM
mcrcial paper. Merchants, if they
attempt to bridge the chasm that
yawns before them, by loans, at the
present rates, arc only toprling to
certain ruin. Yet We are told that
the government debt is being paid
off at the rate Of $7,O0O,OO0 per
month !: this is at the rate Of $751;
600, 900 per annum. Since the last
Of March the aggregate reported re-
duction has been $64, 900, 600.
Official figures demonstrate that
the gold interest on :hc public debt
of the United States, besides State,
county, and municipal indebtedness
is $3.50 900, 900. Thus, instead Of
actually reducing the Indebtedness Of
the country, We arc at present paying
about one half the annual interest on
the debt, taking into account the
difference between grccnbacks. and
gold. The general decrease in the
public debt since the first of Nov.
1868 is triae over $57, 200, OOO.--
The interest for the same time has
been S120. 900, 900. But there has
been added to the public debt, up to
the first Of September Of this time,
in bonds, issued to the Union Pacific
Railroad, and its bra nchcs, with 80
years to run with interest scmi-an-
nually at six per cent. payable in
lawful money, the first Of January
and July, the sum of $50, $50, $40.
The west was never blessed with
bigger crops than at present, its far
mers arc not spend-thrifts, and were
never so cmbarras sed as now. The
state was never in the material elc-
mcnts of wealth 50 prosperous as now
yet there is no use Disgusting the
fact that hundreds Of our most SOL
vent business men were never in such
jeopardy, not that they have less sub
stance than formerly, but because
there is nothing in circulation that is
recognized as the measure of value.
for what they possess. With ninety
millions of dollars locked in tho
vaults of the government treasury
the. commercial prosperity of tho west
lsnguisbcs, and its business men
stand on the brink of financial ruin.
Notwithstanding the low prices Dur
ing the month of October there were
shipped from this point b. 1872 BUSH
els of wheat /; of barley 1,O71 bush.
els; of butter 1G, 730 pounds; of hides
5000 pounds; Of live hogs 1900
pounds. The receipts of wheat in
Milwaukee for the week ending Nov.
16, 1869, was 7OG, 262 bushels, cor
responding week for 1868, 232, G69
bushels. The shipments from Mil
waukee the week ending Nov. Is.
was 640,2 70 bushels, corresponding
week of last year 30S,612 bushels,
showing that the produce dealers
there have so little faith in an advance
in price that they arc sending it for
ward nearly as fast as received.