Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1873-10-17
and plank feet vide and nearly as

and plank feet wide and nearly Of
long.
There are some fine churches, but
Chicago beats them. They have a
fine Masonic HALL expect one Of
the finest in the country-and if
had had time would have visited
the Lodges. The dwellings,, many
Of the fine buildings and the stores
are built mostly Of wooden &C.
count of the earthquakes. One pc
culiarity of the FRI CO architecture
is the bay windows in the upper
stories; that gives the town Ven
etian aspect. The streets are partly
paved with coble stone and partly
with Nicholson pavement, and the
balance of plank or sand. They
are just beginning to haul gravel,
and are going to have some good
roads In time, but the pavements
are poor. The water is mostly
poor and very warm to one from
where water is pure and good. The
Grand Central Hotel is nothing to
Chicago's best, but is a handsome
building. The hotels are very good
and quito reasonable in prices
from $3.50 to $1,000 per day, accor-
ding to room, etc. We paid $3.50
and had better food than can be got
att -Four own town. l enclose you a
bill of fare for breakfast for the last
day we were there; and the oatmeal
here is splendid. We visited the
Mercantile Library, and it is fine.
But l cannot give you history Of
the town in one letter, but it is
wonderful place. l must say a word
of st. Jose and the valley of Santa
Clara. st. Jose is a splendid town,
and is being settled by eastern peo-
pie of means, who are building
splendid residences, and planting
lots of beautiful shade trees and or
chards. While we were there the
county fair was in session, and we
saw all that was to be seen, and
among other things squash 22s
pounds in weight, and some of the
most beautiful sheep, cattle, horses,
domestic manufactures, fancy work,
millinery, needle work of all kinds,
silk and silk worms, raw silks and
manufactured, marble work, fruits,
Vegetables, etc. And the fast trot-
ter, "Occident," owned by ex-Gov-
crnor Stanford, the railroad poten-
tate of the G. T.. But l must again
close. st. Jose is Lovely place,
and l would like to own a nice
place and reside the rest of my life
there, where one can have straw
berries at ten cents a quart most Of
the year. The trees are green the
year round; flowers are in bloom
now, and in fact all winter. Good
bye, and remembrance to friends.
&C.
=. S.-A dog has just gone down
street with tin can tied to his tail
-rattle-te-bang. A quiet Sunday
night. (?)
Grant on tho Financial Situation.
The views of the President, ex-
pressed in q conversation and re-
ported for the associated press, arc
as follows:
In the first place, he thought that
the panic generally through the
country differed essentially, both in
cause and effect, from any similar
event of which he had any knowl-
edge. When such events have here
totore taken place distrust has been
occasioned as to the currency in
circulation. Everyone in possession
of currency would rush to the banks
with it, or spend it in a most liberal
manner, but now the currency, in
stead Of being deprecated, is actu-
ally becoming daily more valuable.
In response to a question, he said
he thought he saw in the passing
events the first steps toward re.
sumption, for the reason that panics
generally occur when the country
lacks prosperity, such as failure of
crops, over-purchasing from abroad,
etc. In this instance the panic has
occurred in the midst of the great
est general prosperity. The aid re-
Gently rendered in the purchase of
an unusually large number of bonds
was not SO much real as moral. The
fact is, the President said, the mo.
ney corporations Of the country had
become stampeded, and in turn star
tied and stampeded the whole coun-
try. Had not the Treasury seen fit
to aid them in some way the fright
would have become more general
and the consequence to the country
more fatal. AS it was he really be.
licved the effect was going to be
beneficial in many ways to the coun.
try at large, though the cost to some
individuals deserving of better
fate may be severe.
A RETURN TO A SPECIE BASIS
can never be effected except by
shrinkage of values. This shrink
age has now taken place. Disasters
have overtaken them, and he sin.
cerely hoped other advantages
might be retained in order to reach
a solid financial basis. Already the
currency has appreciated to abou,
par with silver. He wondered that
silver is not now pouring out, and
that when this should take place his
theory was that the country could
absorb from $2O0,OOO,O 900 to $500,
100000 of it. This would prove {
great benefit in several ways. /
would supply market for mum
Der of years for our mines, now be
coming a drug. 1t would take tn,
place Of the $40,oOO,OOO of fraction
al currency, that being the amount o
change that experience has proven
to be necessary for the transaction
of business, and will become tn
currency which will be boarded il
small amounts. He believes tina
with silver once more in circula
ton, grccnbacks will never be at
discount for silver. All tluctua
tion from that point would be in ap
probation OF the value of pape
money.