Minnesota weekly times., 1855-05-15
"What are we coming to-"

The following from the Chicago Times might
have been written for Saint Paul, and gained en-
phasis by the application. Every word of it, even
to the withcring satire of its figures, carries with
it blasting condemnation of the insane spirit of
speculation, which tyrannizes over the interests of
Saint Paul:
"Every dwelling house in the city of Chicago
is occupied-every dilapidatcd hovel, crib, and
pen with four walls and roof is full of human
beings. Every hotel is full-every boarding
house is full-every one-horse tavern is full ev-
cry rookery, place, nook, corner and cock loft,
where humanity can exist is full of human beings.
Chicago IS one vast hive-swarming, running over
continually-one half of the human beings hunt
ing for place of shelter. Rents are beyond pre-
cedent in any city on the globe. Landlords have
raised their rates twenty five, fifty, seventy five,
and in many instances one hundred per cent?,
since the first of May last. The most unnhabita-
BILE, dilapidated, and filthy tenements, such as in
other cities Il gentleman would not stable his
horse in, arc coolly set down for rent three or
four hundred dollars per annum. s'NO matter for
the distance, or the character of the accommoda
tions-such is the prce,and we can ge, it," Land
lords listen to no other reason. There is no other
alte. natiye-pay the rent or leave the city. Aye,
and why not leave the city? What is there IN
Chicago which lustlfies the payment of such ex-
orbitant rates for the necessaries of life? What
thousands, while there is literally not place for
them to lay their heards?
The answer 20 the last Of these questions NAV
be given in one word-srECULAT.O>! Wild, fan
atical, improbable speculation is the cause and
the effect. 1t is this which has brought about a
state of things in Chicago, for VIII ch we may look
abroad in vain for Il parallel. 1t is this which is
every day making that thing worse. So long as
men pcrceive IL chance, Or made " believe there is
one, of realizing three or four hundred per cent.
profit in single twcvemonth upon their money
invested in ''real estate" SO long will they not
build houses, and so long Will the city suffer for
the want of them. So long will the real growth
OF ChcargO be retarded. Every dollar placed by
spectators in un.mprOved Chicago real estate is
curse rather than benefit to the city. 1t is a
deep, bghtng curse, (which the city is already be-
ginning to feel. 1t is cnrse which rests in no
small measures upon the heads of those conduct
Ors of newspapers who boast of having the pros
perity OF the city ut hear, yet exhibit the only
ldence of it in hcraldng 'salcs of real estate 30
which in nine cases out of ten, never took place,
or if they die, than at figures entirely different from
those paraded in their columns. These men, with
unmitigated ignorance of what is for the true
interests Of the city, or totally devoid of regard
for its prosperity, are the ins;gators, the wind
bellows, which fan into a flame one half the spec
ulating mania which annually exists in Chicago.
What is there to warrant the state of things
who have not the means to speculate, have not the
means to live. The wages of labor are no more,
the profits of legitimate business are no greater,
in Chicago than in other places. Yet the cost of
living in Chicago is at least one third more than in
other western city, and more than double what it
is in cities at the east, The mechanic who here
earns two or three dollars per day, pays one dol
lar for houserent (and fortunate indeed, is he's if
he find tenement fit to live in for that.) If he
have wife and two children, the most rigid econ
omy will hardly enable him to supply the wants of
his table with the other dollar. The aueraqe of
mechanics wages in this CITY is not above the sum
per diem We haye named. of clerks and day-la
bOrers, the average wages is not to exceed $l so
per day, and We think it will be considerably be-
low that sum. No branch of business or of trade
is patronized comparatively to any greater extent
here than elsewhere. The cost of accommoda-
tions at our hotels may be given as follows:
First Class Houses, 50 per day
Second Glass Houses, So
Third Class Houses, 81 so
From Fourth to Sixteenth Class Houses indis-
criminately have, lately, not less than 81 per day.
c. The Democrat and Minnesotan are attitu-
dinizing preparatory to a desperate hand to hand
conflict. Public deeply interested in the settle
ment of the main 0uestion which NAV 10 thr.