The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1908-04-02

lplaint of hard times is now being frt
lquently heard throughout the state
) The present generation in Iowa kno,
very little about hard times. AS
I Isome old timer who wrestled wit
the panic OF 1857--there are a nun
Der of them in Polk county-and yo1
will get picture of times that trie,
linens souls.
i When Iowa was admitted into tn,
junior in 1916 the first section of arti
lcle s of her constitution decreed tina
the general assembly should prohibi
by law any person or persons, associa
ton, company or corporation from ex
lercising the privilege of banking, OIL
lcreating paper to circulate as money
The democratic party was then In
power and it stood for "hard money
which was gold and silver BY a
singular lack of sagacity, it neglected
to prohibit the circulation of paper
money of the banks of other states
The general assembly promptly enact,
ed the law and Iowa was at once flood.
ed with the worst assortment of red.
dog" wildcat" "stump-tail' stuff
that could be devised from Maine to
Tennessee, from Canada to Arkansas,
from North Carolina to Nebraska, the
most disastrous of 1t TO Polk county
being the Agricultural Bank OF Ten.
nessee. Private bankers and brokers
in Iowa were deluged with the finely
engraved promises to pay at large
discount, thereby suppressing what
ever conscience the consignee might
have had. The stuff was at once
forced upon business men. laboring
men and especially farmers, to get it
so far away from home it would be.
come worn and ragged 1t would never
get back there. while every dollar of
gold and silver was Sailed" to pay
Tor land and taxes, as Uncle Sam and
county treasurers would take no 9th
er. The questionable stability of
those foreign rag mills 'soon became
rife, and every banker, broker and
merchant kept bank note detector
at his elbow. and the greatest effort
of the banker and broker every day
was to force out as much as possible
the most suspicious of it and the mer-
chant to get it deposited in his bank,
for nobody knew what it would be
worth the next morning.
Traded Bushel For BusheI.
Billy Moore once started Robert
q veteran old soldier of the
Fourth Iowa, and a long time janitor
at the state house, for Keokuk with
an OK team to get some merchandise
When he got few miles out farmer
refused to take the MONEY Billy had
given him for expenses for some corn
to feed his oxen. Robert came back
and Billy had to hunt up some money
that would be good until Robert could |
get to Keokuk.
One day produce buyer loaded |
with wildcats" stopped a farmer on
he highway, and the following COLO
Iuy ensued: '8' W
Have you any potatoes to SELF"
Yes sir, lots of them"
will you take Agriculture bank
money for them?"
Yes sir"
"On what erms?"
"Bushel for bushel."
Daniel Vieser an old time cabinet
maker, said: People are talking about |
lard times. They don't know any
hing about hard times. In 1855 and |
Up to 1857, have worked two and
hree weeks and did not see a dollar
n money. 1t was a common thing
or laboring men to run along three
months without getting cent of good
money. All money good for anything |
,ame through the United States land
'ffice and was boarded up by whoever
got hold of it. Sam Good started
'nce with $50 for st. Louis, and when
lie got there the banks would not
axe it. Mechanics were mostly paid
n store orders"
While meats were very low other
for family use were high,
md often not to be had at any price.
n the State Journal of Feb q, 1867,
find the quotations were:
flour, per cwt. ...............$ SO rs
'uckwheat -four. per cwt. p. 400
;orn meal, per bushel. -. 100
Wheat, per bushel ............. 100
;orn, per bushel .......... so
Potatoes, per bushel .......... / 90
'utter, per pound .......... 80
Eggs, per dozen ......... rs
Mr.. Robertson's Experience.
One day S. A. Robertson, the well
nown builder and contractor. who
vas then employed by Isaac Cooper.
Who was building the second court
Iouse, wanted to attend a picnic at
horseshoe lake, near the south end OF
seventh street, then the popular re-
ort for such events, and he asked
,ooper for some money, to which
cooper replied that he had none. Rob
rtson pressed his suit, saying he had
his wife to go with her. and
must have some money. Cooper
made a raid on his pockets and fished