The emigrant aid journal of Minnesota. [volume] (Nininger City, Minn. Terr. [i.e. Minn.]) 1856-1858, 1857-08-15
Western Migration.

We do not coincide with the views common}y adyau-
ced upon the subject Of western migration IN many
respects our opinions are antagonistic to those winch the
journals Of the seabCrd states have held. Recently, 1t
IS true, IL change has commenced i'll various leading pa
ucrs-an unusually fruitful harvest, the continued influx
Of GOLD and the fact that the money market Is easier and
= financial crisis less probable each day, have encouraged
lesrondin. hearts and stolen the thunder of interested
a%rumhlcrs. But q month ago, from the UosAi"gto"
Io;on down to the duolecino sheets, a chorus of care
,,,pe,o. rang forth, leace.fing in piteous accents, eastern
CAPITALISTS and eastern men not to hazard then future
and their capital in a fool-lardy speculation.
In eyorv kew the song Of warming has been sung to
Those adventurous spirits who seemed disposed To do that
which their crand-n,others declared foolish and wicked
because novel.
ACE. who have a true conception Of the meaning OF the
word nrosress, have been informed that the " est IS M
bnea Will, a mania al speculation which must be di'as-
irons rs the South Sea bubble OF the fatal imitation OF
1887. IT.,
Every Bank, feeling that the blood was being drained
from its veins by each successive remittance to the tar
West. has raised he cry of horror, as the precious naId
left their bloatcd carcasses to i~nvigolate the daring youth
If western enterprise. The dread Of diminished profits
and jealousy Of those who are accumuiat'ng property
more rapidly than they, have caused the institutions OF
the East to feel this patriotic agony and cast a blions
i;,oe unoo Fl, the views enumerated through a %sympathi-
sing press. Because they witnessed many revulsions-
they feel authorized to declare, without resort to arG'i-
meut. that this period Of prosperity must he followed
bv such a collaps as those which succeeded the eSpan-
.;ons of former yeas. As the lnconslderate Increase OF
Bank paper. which was not founded upon a proper pro-
portion of true metallic money, pf"ooceu al ''"''ce-
mont Of prices which was followed by It's natural conse-
,nenco - destructive depreciation-they have decided
with true senile reasoning. that the present Iericd OF
unexampled prosperity must be followed with similar
crushing inisfortunes.
This "utcry has been productive Of good. 1t has ar
e. N.. ll.or
rested the community when fast becoming a'hac'ous
in it's conventions and fool hardy in enterprise. Specu-
l,tion checked,-we have had him to reflect and compare.
We have examined our accounts and know exactly how
we stand. We have posted the books, struck the bal
aoce between the Debit ard Credit and found that the
country was never 50 wealthy and trade never conduct
ed upon so sound a OASIS.
This panic, therefore, has continued sufficiently long
We have had sufficient time to understand the condi
tion Of the country. whether in the East or IN tue Vest
1t is now clear to every candid mind that causes deeper
and more potent than that welded by monicd lnstltu.
tions, have produced and will support tins unprecedented
state of things.
For six years the world has annually received more
than one hundred millions of the precious metals. This
annual Weld forms in itself q large proportion. OF the
original aggregate. We have undoubtedly received
since 1850 one-third or one-half as much gold as the
world employed previous to that year. The effect o.
this increase must have Deen 10 cheapeu inoney "i" NY
crease the value of property.
sionev is a symbol; and as the symbol %multlplles
that for which it stands must be multiplied in a similar
ratio. and thus we account for a rise in the value OF pro
perty which is universal in this country aud throughout
the civilized world. So long as the gold fields of Aus
traia, California aud the Ural Mountains continue tt
pour their golden treasures into the lap of commerce
money must diminish and property must advance IL
representative value.
This is an universal law and we propose to discuss
in a few brief words, its necessary effect upon the un
settled portions of our Territory.
From the earliest days of which history takes note
men have moved westward from the supposed cradle O
the human race in Central Asia, building cities ano