The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-11-05

Monetary Affairs In Chicago.
rom III. chles.o Dali, Tribune. .. saturday.

Frsm The chlcsso DAILY Tribune, u. saturday.
The increased murkiDess Of the financial
atmosphere Eastward is not without marked
effect here. Business is stagnant under the
continued arrival Of bad news and there is
no hope that the weight will be lifted, and
the wheels Of commerce begin to turn with
their wonted ease until Spring When the
Banks Of New York suspended, it was
thought that the worst had come, and that
nothing but improvement could follow. For
a few days there was partial revival Of
confidence but the perilous condition Of
these banks, hedgcd about as they are by
the sharp provisions Of the law, and the
extension OF the pressure TO England, and
the parts Of the Continent with which our
relations are most intimate, together with
the utter impossibility Of getting the pro-
duce Of the country forward to a market
before the close Of navigation, have again
frightened down the screws and there is now
o gradual but steady setting back into that
slough out OF which all hoped the country
was about TO emerge. At present rates
there is not much room for further fail Of
prices; farmers rather than submit TO
tighter squee1s, will permit their produce TO
rot in their cribs; but sales are dull and
there is no prospect that they will be more
active. The figures Of Thursday were in
the main sustained TO day bnt transactions
were limited and withou, confidence in
ro.itablc results.
In spite of the ominous look of things
ahead, there are not wanting confidence men
without number, who are looking forward
to a restoration of their methods of doing
business, the prices and Misunderstanding
which prevailed last spring. They are busy
irr' saying out plans On the Old scale OF
magnfccnce, in which dollar in cash serves
as a basis of an operation Of fifty dollars
on credit. Humbug towns and humbug
lots in towns that are not humbugs, a
general anti-industrial jubilee in which all
men are to get rich themselves a few
hundreds OF thousands richer than their
lellows-by speculation in trade and ex-
travagancc in consuming, are the basis Of as
many calculations a. ever before. Now
whether the pressure continues for a longer
or shorter time, nothing is more cert ain than
fever has reached its crisis, and that the
thousand and one schemes by which men
were seemingly cnriching themselves out OF
city lots, which will not he demanded for
use in a hundred years. and farming lands at
prices almost fabulous, have come to an end.
This is the time Of squaring up, and it will
be score of years before the events Of the
last three years can be successfully repeated.
The exchange mystery continues TO battle
everybody. Rates were slightly higher to-
day--6ao per cent. premium. Mcssrs. George
Smith & Go. sod sparingly yesterday at ).
In the present anomalous condition Of things
difference Of two or three per cent. between
two days surprises no one.
Gold is selling moderated y al Ial0
The following failures have been reported
during the week : Cyrus Adams, Lumber,
cleared ont; Isaac Speer, Jewelry. assigned
TO Thomas Speer Fish X Lester. Produce
and Commission, assigned TO a. II. Fish;
Robert Malcom assigned to Charles Y.
Dyer Thomas Holbrook Lumber assigned
to james Bryant Il. W. Stevens u Co.,
Jewe!ry, assigned to H. A. Brayton.
A chaticl mortgage on the part OF
Chicago, -. Paul, and Fon Ia Lac Rail
road to James Winslow ct al (Winslow,
Tanier a. Coz. was placed on record ytster-
day.