My father possessed numerous offers throughout the Concord Financial
Politics, Take a trip, And you will Company.
“When you look at the 1836 my father, catching the fresh speculation temperature of period, followed closely by my brother and you may cousin-in-legislation, went along to Illinois, and remaining quite an amount of money towards acquisition of bodies residential property. The fresh new speculative temperature pervaded the complete area,-speculation in countries in the Maine and also in Illinois. The effect try an effective inflation off pricing,-the brand new giving from a number of promises to shell out, with a huge collapse and therefore introduced destroy and you can poverty to a lot of domiciles. The entire year out of 1838 try certainly great stress. The fresh grain and you will corn harvest is scant. Flour was worth $sixteen an excellent barrel. I remember heading commonly to help you mill having a great grist out of oats, that has been (p. 042) bolted toward flour having need off wheat. This new Concord Bank were not successful,-the new Western places was indeed meaningless.