Parties and Slavery, 1850-1859

Parties and Slavery, 1850-1859

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...remained low. The writers of the day, such as Greeley, in the New York Tribune, represented that prices were "from 2 5 to 7 5 per cent. lower"; and in some localities, and especially in certain lines, such as land, this was true; but the effects of the panic were not in reality so severe as people thought. Tables of prices, made out from a study of market quotations, do show a decline in 18 58 and 1859 in some important commodities, such as wheat and iron; but it should be noticed that even in these the prices remained above the range previous to 1856-1857; and in many other products, such as corn, hides, and wool, there was little effect after the months of suspension were over. The iron industry, undoubtedly, suffered severely; the production of pig-iron fell off one-fifth in 1858, and the state of Pennsylvania was considered "prostrate." 1 While factories were idle and while, by an unfortunate coincidence, crops were poor in the west, there was bitter complaint of lack of employment in the cities, giving rise in New York to working-men's demonstrations of a semi-revolutionary character, demanding work or bread. These did not, however, lead to any actual conflicts.' The pictures drawn by observers were full of the depression which replaced the extravagant enthusiasm of 1857. "The general movement of the country," said one, "is still toward liquidation and there has been therefore no general revival of trade.... How far the country can be relied upon for payment in full for past or present indebtedness is a question not easily solved. Those who thought themselves rich with wheat at $2 a bushel will find their assets miserably shrunken with wheat at 75 c. for the same measure...".show more

Product details

  • Paperback | 86 pages
  • 189 x 246 x 5mm | 168g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236928369
  • 9781236928368