The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1872-10-31
I TWO DOLLARS PER ANNUM.
s.Going Yest..u

Against Mr.. Greeley's advice to young
men to go West, we place the following ex-
tract from an Illinois lotter to the Country
Gentiensans Wa have lived in the West.
and FROM personal observation we know that
il is as difficult to procure employment there
as here. Men of will, business tact aad eR-
ergy succeed there as we'll as here, aud have
better opportunity OF inyestiugssurp.us eapi-
tai, but whsu it comes down to square knocks
| with tho world, young uaen fare about as veil
here as there. The extracts we give iudi-
cate an alarming condition for the produce
ing communities, and if it approximates the
truth, there is nothing probable in the fu>
| ture that will forefsnd them from financial
disaster.
Thu SITUATION IN ILLrNoIa--A large
share Of Che improvements made 10 this part
of Central Illinois, within the last five or six
years, have been made on capital borrowed
| from the East at an average rate OF not less
chan II per cent. The rate for loag loans,
that is for loans secured b. cut-throat mortag.
ges on improved farms, for term Of From
three to five years, is 10 per cent, per aa~
mum, to which is added the per cent. Of
| the broker and che legal expenses, making
| the average rate little more than II per
cent, for three years, and little less for five.
This interest has to be met semi-annually,
aud has to be made out of the crops. With
corn at 100000. for old aud new, and Data
at l5020c., and hogs at similar rates. and
with twothirds the whole landed estate of
the country mortgaged at more than two,
thirds its cash value, one can see there are
at present tight times in Illinois. There is
no money there is no business; there is no
public spirit, aud not particle of political
enthusiasm. But the land groans uadcr
| corr crop, which to conceive Of battles the
common conception !; oats are nearly as plen-
tiful sheep are numerous !; horses abound
| there are cattle in herds, and cattle scattered
by the thousands, and ten thousands, and
hogs, big hogs and little hogs, BY the million.
The era Of ten per cent. corr has come again,
and bringing with it freights higher than ey-
er before, and an almost universal stsgnation.
How shall VIC &c. out of it How shall We
pay our private debts which arc enormous.
and our public taxes, which yearly take from.
i've W tCu PCI CCut. VI ChSi ooUJ
I do not know But it is plain to me that
though individuals become impoverished, tail.
aud are forced to emgrate,. nevertheless i
country SO full Of every means of agriculsu-
raj wealth can never be otherwise than pros.
porous
TO be sure there are those who see, in this
almost uniycI sal owe, Indebtedness Of indiyi
dualc sigps and indeed some indications Of o
future for Central Illinois more promising
even than the brilliant past. The curse Of
the country is two much land held by iudivi.
duals, and consequently imperfect and In-
profitable cultivation, or no cultivation at all.
The dabts incurred must be paid, aud in ma
nv cases the present holder will be forced tn
sacrifice the whole, or sell half his FARM
This process will divide the farms up into
smaller parcels, rid US of the less entcrpris-
ing, and bring in new men, new money sud
new ideas. let us hope Tor tho best, and
that there may be found some happier way
out of our troubles than that which remorse-
lessy sacrifices a part of population that
another part may get rich, and that the State
may continue populous and great.