Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1879-01-16

to approximate at least those of the natural Law of
supply and demand.
Low rates of interest in my judgment increase the
wealth of the State stimulate the development of our
agricultural, manufacturing and commercial indus
tries, and enlarge the field of employment for both
capital and labor, while high rates of interest have
the contrary effect, and tend to discourage enter
prise and to encourage men to loan their capital
rather than employ it in the active pursuit of wealth.
Experience during the past ten years has taught
those engaged in promotion of the various industries,
that our commercial and manufacturing pursuits are
to be conducted in direct competition with those of
our sister States, where the rates of interest
much less.
am satisfied that law reducing interest rates as
rates in neighboring states would result to the
vantage Of all concerned. The resumption of specie
payment as the settled practice of the government,
and the low scale of values which must prevail from
the sounder basis upon which business is conducted
must render small margin Of profits inevitable in
all branches Of business and there is every reason
why the price Of money should share in the common
reduction. =,
r~, ~ AGRICULTURE.
During the first half Of the growing season the
past year the unvarying report from all parts Of the
State was that the prospects for wheat were never
good, nor Tor corn so poor. as appearances then
held forth. The result in two-thirds Of our tiled
area was the poorest wheat crop and the finest corn
yield ever known in the State Nothing could more
emphahcally illustrate the uncertain promises Of
agriculture nor more pointedly condemn the folly
profits of q single product. This is further shown
by instances which have come to3my knowledge,
where men heavily pressed with debt had fortunately
voted half their prepared land to corn, with result
ing good profits and happy rescue from bankrupt
cy. 1t Is indeed the opinion of observing men Of
longest experience that notwithstanding our peculiar
adoption to wheat growing and the suppositon that
our latitude s too high for the most successful pro-
ducdon Of Indian corn the latter Is nevertheless the
results Of several years are considered At all events
it is the part Of wisdom to try BOTH and to still fur
Their employ the resources which, beyond those Of
needless fsre re resung po@
the Transportation Of neat cattle across the ocean,
and the extending facilities by which the farming
Competition with those Of Europe, should encourage
producers to ava1 themselves Of an their multiplying
advantages 81 { e ; r, :
- g, :, RAILROAD BONDS.
The recent vote Of the people Of the State on the
proposition to exchange internal improvement land
for railroad bonds indicates that they are not pre-
pared to make settlement Of this vexed question.
deeply t. e
change, and earnestly hope that in the near future
the people of our State will take different view Of
the matter. - -~ ..4.a. --,. ~~-~ -qss-
In view Of the excitement recently created regard
ing the inspection and grading Of wheat, suggest
that . commission be created by your honorable
Dsdy 70 tsae the wno,e mater INTO IT, special consider,
upon the maturing grain the past season was made
theoccanon for much Complaint with the classifca-
'aoncf the product 1nd tho ~nsnner Of testing its
grades, and inasmuch az serious charges have been
repeatedly made: Of dishonest practices by wheat
buyers to the injury Of producers, it is important
that thorough and impartial investigation Of the
matter by men representing Al the parties interested
be made without unnecessary delay.
ssHts = - $RG cNsOLvENCY. s4sy{i - Z k,er
Since the repeal ofthe national bankrupt law many