The daily Minnesota pioneer. [volume] (St. Paul, Minn.) 1854-1855, 1855-05-04
The PrOspecs Ahead.

For causes obvious TO all engaged in bus
mess here, the money market continues very
tight, and money is as hard to obtain, a..
most, as Roc'S egg The stern, unyield
ing rules of business which exact 50 mnth
from the merchant-which allow Of no de-
lay in payment, and have no mercy in them
for promissory notes--whch mark the
time, and place business reputation, and all
at stake upon its observance, have natural
ly caused the absorption of a very large
proportion of the available capital in the
community, and it has been sent below to
procure the means of future and more cx-
tended operations than have hitherto been
ventured upon. ,-
Still business affairs arc in Il very whole
some condition, and that there is money
left yet, is proved by the readiness with
which the enormous amounts OF charges
for freight have been met. Some lorty-fiye
boats, all loaded 10 the guards, have dis
charged at the lcyce, and the amount Of
money that each one has taken away has
been considerable sum. We have 10
means of ascertaininy the aggregate, but
if figured up properly there can be no doubt
that it would he considered immense. We
know of one Commission House here that
has for several days in succession paid ont
for freights. labor. etc. at least three thou
sand dollars per day. What the cost Of
the merchandise unon which 50 large an
amount of charges were paid may lie con
jectured only, but the money to pay for
it came from st. Paul, and places in its
vicinity. The drain has been exceedingly
severe, but the high reputation for prompt
ness and integrity which our merchants
bear among their eastern brethren, has
been amply sustained. We have not heard
of a single failure, and steamboat people,
as they carry away, each trip, well filed
nurse. have reason to be thankful that they
had but to ask and receive their compen.
sation.
And here VIC may mention fact which
has always honorably distinguished the bus
mess men of ST. Paul; and that is their
disposition to help one another, and so be
all sustained 1t grew ont of the neccssi-
ties of our infant village, and has remained
to give tone. character and strength to the
mercantile class of young, but with its re-
sources, giant city. Long may it last.
But while money is scarce here. now; it
is plenty at the East. 1t cannot there
command more than legal interest, if that,
and here it can readily command, at a
profit to the user, that, and more than that.
1t is a natural thing in capital when forced
up to q plethora, to seek an outlet and
those who have well considered the matter
who have been East, and who understand
the views and inclinatioDs Of capitalists
know that very soon large amount of sur
plus currency will find lis way here, to be
distributed throughout the Territory by
means of permanent investments. The
fact. Also that very large amount of mon.
ey must necessarily be brought here by i'm
migrants, warrants the belief that the pres
emit void in the money chest of minnesota
will soon be filed. The money appropria-
ted By Congress for improvements within
our borders, will also soon come within play,
and but a little while longer and not only
here in ST. Paul, the seat of its commerce,
hut all over the Territory, there will be
scattered an almost abundnt supply OF the
.ueedful." ..1.'aa TO ...-'fsa.i '-,'