The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1870-03-17
FROM DIES MONIES.

| Correspondence Of the Upton Adyertiser)
DEs MONIES, Iowa. March !, 1870.
Mr.. Editor. | do rot pretend to
know much about banking, nor to be
able, under any given circumstances to
give unerring financial advice. l DO
know, however, that when mans
pocket gets slim, he very naturally con-
ciudes that there ought to be an 'expan-
sion of the currency" to avoid a "1inan-
cial crash, and he hopes that such
expansion will, by some indefinable
means, in its qualifications, reach bis
emaciated purse. Knowing that he Is
troubled with scarcity of money, he
inagines he has caught his complaint
by contagion, and that the whole
country Is troubled in the same way.
Without stopping to inquire into the
cause of his insufficiency, he at once
seeks The traditional "shinplaster' rem
edy; and if his symptoms improve, he
often inconsderately- gives that RENE
dy credit therefor. The cry of "hard
times" is always attended by the decla-
ration that "there il not enough money
in the country to do the business Of the
country.
1t Is probable that arguments similar
to those illustrated above, secured tho
passage in the Senate of Senator Aliens
resolution asking Congress to relieve
present financial difficulties by increas-
ing the volume of currency.
! a single glance at the subject shows
that the scarcity OF money in Iowa at
! present is not attributable to a lack OF
circulating medium throughout the
! United States. If our farmers have an
abundance of Iowa products for sale,
and those products bring good prices,
it is quite clear that the people OF the
State will have plenty of money for the
payment of their debts. When we have
q good crop of wheat and it sells at
profitable price, it brings All income OF
at least one half as much as that of all
other products together. Hence fail
ure of the wheat crop, or the want of
market for it, would of itself be suffi-
Gent to make scarcity of money for
! the payment Of debts contracted for real
estate and merchandise.
Now what is our situation? All the
prcduits ofour State bring good prices
except wheat. That brings but little
! income because the crop failed and be-
cause an abundance af better wheat in
other parts Of the country destroys our
market. Then it is plain there could be
no financial difficulty in the State, If we
had good crop and market for it.
And, the demand does not depend on
the amount of money; for people must
eat whethee legal tender is abundant or
not. TO bring gold gradually down
from Sl.l5 to Sl.OO and resume specie
payment does not seem like it ought to
produce much of d shock when we re-
fleet that it has made much greater de-
scents; that the moment it reaches that
point gold, which is now an article OF
| speculation, would at once 90 into circu-
lation; and that much capital now used
in sock and god gambling would be
turned mo productive enterprises.
A large amount of capital not perna-
ncn,lv invested, would soon seek per
merit or me country IT our f;lan res were
besed on the universally accepted critic
rion of values. Any Initiation or dis
turbance of the currency creates a har-
vest for every species of brokers. Let
US not exchange fancied grievances for
real evils. But enough OF this-I did
not expect to say 50 much. This subject
has, however, created considerable in
terest in both branches Of the Legisla-
lature.
The Railroad Lobby is now in full
blast, and the smoke beclouded halls Of
the Slavery resound every evening with
earnest rhcroric on the questions Of
"Des Moiues Valley Resumption"
RAILROAD Taxation" and Tariff on
Freights and Passengers" The Rail
road Committees are, of course, the
wholesale recipients of these noisy dem
onstrations.
The present indications are that the
taxation OF railroads will be increased to
about thrice their present amount.
This will result from a compromise of
views. Those who at first ragged high.
er taxation have somewhat modified
their demands because of the danger Of
gripping or retarding railroad enter
prise.
AS to whether anything will be done
towards regulating tariff on freight and
passengers yet remaiDsa question of
doubt. The indisposition on the part of
many to interfere, together with the
difficulties surrounding such intcrfer-
cnce, have operated to make this subject
a very pelp.exing one.
The geOloGi cal survey will be discon-
tinued for the present and the report of
the State Geologist will be printed. A
small part of former appropriations now
unexpended will perhaps be applied to
the purpose Of completing some unfin-
ished parts OF the survey necessary to
make the report complete.
/ The Senate has now under cOnsidera-
ton bill seeking to release from State
taxation those counties now indebted
on railroad bonds. Such a proposition
would make n very heavy State tax on
other counties. Under such a law, Cc
dar county would contribute about $50
600 for the purpose of getting others to
assist her III the payment Of ST., 900. ~
Fund linz tho pnLlin nohA