The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-09-26
A Hopeful Aspect.

In the midst Of the dependency so preva-
lent in regard to the financial pressure, people
seem to have overlooked much that gives a
bright and cheering aspect to the otherwise
dark look of monetary and commercial mat
tors for some time to come. These causes for
congratulation exist, though during the panic
they have apparently been dlsregarded on ev-
cry hand, and are unmistakable. 1t is true
that slight times" may continue to some ex.
tent, throughout the winter: the great sta
Piles of produce command low prices for q
consi !erable time, the speculative fever of the
times subside, rents decline, and a few hun
dred of rotten hou es which we can do we'll
enough without "smash up''-but these are
calamities which may BE- borne, and which
we are we'll prepared to meet.
The country was never so we'll prepared to
meet panic as now. 1t never was so rich,
especially the North West. The crops in ev-
cry section OF our country never were so
heavy. Our commerce never so extensive,
our inland communications never so great !;
our manufactures, and the means Of produc-
ing the ten thousand fabrics Of use and lux
ury never so numerous as now. And yet
with it all, we have been reckless and cxtrav.
agant, and encouraged and fostered abuses
We have bought abroad what we could have
manufactured at home, and paid out enormous
@0u rIck Il v,1< Of Ill H.,
silly and expensive fashionable gew ga,os and
trumpery of foreign manufactures. For ma
ny of them we still owe. We are now pay
ing the penalty for our extravaganza, for
where one pays out his money for what he
does not nee !, he must expect slight times"
Then we have built unnecessary railroads to
an alarming extent, and paid out large sums
for their contraction, and now a stringency
b sets us. Is it to be wondered at that we
cannot 60 on with roads which are needed?
But the business Of the country will not
be suspended. Railroads will still run, bu-
sy as ever, in conveying to the sea and lake
and river ports our tremendous surplus of
produce. Steamboats, will not lack business.
The enormous amount of machinery in the
country will not cease working, for labor is
not suspended, and people will not cease to
rant the innumerable manufactures and fab
RIGS of home production. We must all eat,
drink and wear, and build houses to live in,
yet we can we'll enough do without the silly
and expensive 'hubdubberry' We pay so much
annually to France and other foreign coun-
tries for, and the wines, and silks, and laces,
unne ,essary luxuries, which cost US so many
millions a year. Economy must take the
place Of our former extravaganza and osten-
taton. We must speculate and spend less,
and work and save more. We will soon
know cur resources. and feel confidence in
our real wealth. The panic and alarm will
be over. and Legitimate operations" in bank
ing and trade succeed. No one will be sor-
ny if a l. Of stock gamblers, sugar specula-
tors, -four and grain spectators, real estate
gamblers, and money shavers do collapse. 1t
will strengthen tn, credit and position of
sound dealers and sound Banks, and the bro
ken gamblers can tako to the more useful
occupations of the plough or workshop. We
may all, more or less, be losers somewhat,
but economy, prudence and care will restore
confidence and finally prosperity.
Let no one then, feel any dependency, or
listen to the dismal predictions of or ,akers.
Learn to labor and to hope" and all diff
tuties will be overcome. The crash will still
be as distant as ever, not merely postponed
but forever averted.