The emigrant aid journal of Minnesota. [volume] (Nininger City, Minn. Terr. [i.e. Minn.]) 1856-1858, 1857-09-26
The West and the f-nkt

III III, wing is from a phi!ade plia Journal. in ~
srticl: ~ Tie above subject
Whatever are to he the commercial result .: the bust
ness of our c untry for the veal 1885,. ~ one cu shat
hs eyes ~ the fact that ETH sra'!on must exercise 3. gu!
trolling inAleuce u,r,! ,i.e.A. For the fts, ;ine 10 our
ht>,,rE ~ Il u4t:n!. this prediction nov can br uaie
W. ii. ~: tnran the imlni grafton Of foreigners ,r.nn
abroad. bat the vxn III Of couusies> thousands now going
on fron Ea.; - West. The IL. w~pat~r> all OVER the
Eastern States anuonnrr tie departure Il cv'ml>abir. Il
farmers, III ch,nic-. business ,ne.,, AMI otiicr> aud there
II scarrriy I village any where around rs trniu Whlrt -.une
persons VII! not b. found TO have departed taru,, ur.
everywhere advertised Tor sale, the ~ ntrs giving ~ I
ies>on for seifiuy, that they intend to cni graf. Ger.
ts:nly, the West could Mt f"nrisr 50 astonishingly ii
this exodus wrrs uoI ICING IL. But, added 10 the eni
grafton OF mr", Is The transfer Of money Millions Of
Eastern c"ptas are going with the emigrants, until the
dfaiu begin Ia alarm the banks aud business men of the
EaS. We know that complaint has been made that re-
mittance- FROM Western merchants have not con.r III
~ freely thr present season ~ sforetims, end that Fhey
ara accused ii Investing in land The n,,ney whici, tt-,
,nyht t" .a.= reu,lttsI for goods l;a, th~ real deficiency,
wt,1ieref II IA, be, j. t"n.t! IN :Ee nj. il, ~ w'ic!a si-
l.avin1 is &, -u.taln Ii West. "a he tinr~ invested III
Improvements. " ned for jnnk',y purposes
Yet il sus seriocs ~'irhvi.n,y ii his Kind exists, it
can h ,r!ly Pre- vail to an extent sufficient 10 emsarra>-
The Easr unl.s- the lat'er is wholly dependant tv IT,
vitality III fhc Wr-.--a !arI ~sa,rt. the East wnu.A he
very unwilling t" admit. Ii lie people Of 'h" Western
States HAY" become absorbed ia ST speculative moye.n, III,
those ii tno FASTER, States have done II" more si.an !tl.
low their example, aud nfiencr with the most disastrous
experience. ii ho but Eastern men originated the gig ,u-
ii. s,icne Of spending lHe millions # doiinrs il buying
up the ven out AM depopulasci lands Of Niryiuia-an
enterprise large ,n"i-!i 80 swallow up u th"nsan'l If the
small operations AT the West which uiakc "a much noise
on Iaper ? Wher- has speculation run more Ia riot than
in and near the city II New York? Where has been
developed So infinite y variety II schemes tn make land
sell that never SOLD before, rs in Philadelphia Ii the
West has specni;'et, has she no: .rown rich upon il
aud il she hot destined to grew richer yet: If ther"
were more opportunities for Specializing here, there would
be speculasinns i'll proportion but the field i".ing ex.
Lausted, while the propensity remains, the operators
transfer themselves ard their capital To the new and
bouudlers one which opens on them everywhere in the
West.
Enterprisins men will 20 where business invites them,
AM! those who cannot 20 themselves will n! their capi
tai to work for them The Atlan'in States have for
years been gorged with English and German capital,
brought here by the temptation Of Il higher rate of in.
terest. Every railroad and canal in Pennsylvania, New
Jersey and New York, has been built with foreign capt.
tai. We hold out every possible temptation for that
capital 10 come. We succeeded in transferring il hither,
and who dare censure Us for so doing. Meantime, our
Western brethren need roads nor as much as We did
fhen. VIII, shall righteOusfy censurc them FIR hiding
gu, even greater temptations to capitalists than We DID =.
Their very ability to offer such enormous temptations
constitutes the great element Of their strength. They
paw we'll every way. because they can afford to. Heavy,
we know, will be the drain upon the East in 1857. 1t
will reach at least a million Of e,nigrants, each taking
an av.rlge Of ~ hundred dollars, equal t" an hundred
, millions Il is the infusion Of this mighty stream of
gold into The currency of the West that has 80 quicken
ed i. into activity, and the abstraction OF it from the cur.
reney of the East, that has given an alarming sluggish
ness 10 it's trade, Hence it is that emigration will be
ionnd /" exerciae . controlling influence on the business
results OF 1857. We have no foreign or intestine war
40 pestileDce or famine. But the vast movement Of
the masses scn:u on" section to smother, will be found, IN
the end, entirely competent to produce results, both
social and commercial, quite as remarkable, though not
az tragical. az either Of these.