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

SATURDAY, AUGUST 10, 1867.
Giving Il up.
Quite early last year the cry Of a Western crash be-
gan to circulate through the Eastern papers-especially
the commercial ones-and every imaginable evil was
to befall those who should have any thing further to
do with Western enterprise. 1t was kept up through.
out the year, and begun again this spring with redoubled
force, as if it had been well concerted. 1t were folly
to say that the effect designed was not in some measure
produced. Capitalists and others really supposed there
must have been some danger apprehended to warrant
this prevalent cry Of warning, and the aggregate Of
Western emigration will undoubtedly sum up less than
was anticipated, up to the middle of this season, al
though certain localities may not directly have been
affected.
But the cry of " crisis" and "crash" has spent its
fury they can no longer safely be used as a bugbear to
check the progress Of the West. Each journal con-
cerned in promulgating the violent cutlery is now adopt
ing its own tactics to escape from the dilemma, and save
their prophetic regulations. The most influential, pro-
badly, in this questionable warfare was Mompson's
Baak Note Reporter. 1t now sings in the following
key:
The danger Of a revulsion-a crash-a crisis,-is, in
a great measure, over. The day of impending ruin is
postponed sine die. Stocks have had their time to
fall. Western speculation is check-mated. The credit
system has been dosed with a settling connection, that
is carrying down the impurities and sweetenlng the oil
of trade and commerce. Contraction, consolidation,
and crystalization are taking the place of fermentation.
Like a good chemist we have agitated the commercial
and financial cauldron. We have poured in the acids
and ~alkalies-watched their effects, and are now the
first to make a reaction. Time is now necessary for set
Element. Caution, prudence, a steady hand, small &C,
counts, proper returns, and solid backing are all that is
necessary.
Probably the same tone is now exhibited IN most OF
those journals who, like the above publication, engaged
in the general cutlery. But we prefer to quote. from
different sources, where sentiments of honest conviction
are always uttered, The Ha,ris1uryh Telegraph says,
in closing an article on the prosperity of the country
The future has a bright aud cheering aspect. The
clouds which threatened a short time since have all
disappeared. The apprehension and anxiety have sub
sided, aud confidence is again visible in our commercial
monetary and business circles generally.
A still more important authority, the N. Y. hide
pendent, thus speaks:
The great crash Of 1867, was brought about main
II by speculation in land-not in the wild lands of the
West, but in city and town lots-lots under water and
above water, lots in peopled cities and lots in paper CT
ties, lots among the pines of Maine and in the flats of
New Jersey, lots never seen except in night visions,
never lOCoCeu except ny Tile luldHudllOu, III us '
bought, owned or paid for.
Again in the Times of the same city, in an article
on the commercial prospects of the country:
They put to absolute shame the shallow speculations
of the croaker and the wicked prognostics of the panic
makers.
We will not now enter into an estimate Of the effect
on the West of this general revulsion of feeling now SO
earnestly manifested at the East. It betokens moi. only
a sound and healthy state Of the whole country, but a
growing confidence in Western enterprise that must
lead to Aood-tide OF emigration unexanlpled even in the
many periods of extraordinary prosperity sA.. hava oc
casionally marked the history Of the West. sa
Men will be astonished at their blindness in not per-
nerceiyine that the rich and fertile lands of the great
West must always be enhancing in value by reason OF
the certain growth in population that goes on increasing
every year. Where thousands and hundreds of thou.
sands are pouring in day by day, every enterprise must
come out successful if persevered in. Every year the
patient labor that was once required to see towns grow
is measurably diminished. Here then will be the invi-
ting field to invest their capital, where returns are SC
large and so quickly made. This mode of reasoning
will no doubt prevail with those who have been influenced,
while the causeless alarm raised to deter their enterprise
viii lose their power to produce further effect, if not
entirely sleneed.
We may safely prepare to welcome a large excess OF
emigration, beginning this fall, but fairly to set in the
next spring. Those who have only enjoyed the ordina-
ry seasons of Western spirit that have marked this and
the past years, will learn by observation to what extent
q seeming reckless enterprise can be carried on and yet
be as secure and safe as. the ~plodding business of east.
ern life.
The River Boats and Niminger City.
Monopolics are adverse to the spirit of this great coun.
try. Monopolies of trade, travel, or manufacture cannot
here exist, as under some of the European governments,
by force of legislative action, but we regret to say
they are sometimes forced into life by combinations Of
wealth. They are always odious. The natural feeling
Of an American revolts at them, and the spirit of the
people is sure sooner or later to uproot them. Where
they do exist, however, those connected with them should
be careful, in every possible way, to win and cultivate
the good opinion of the populace. 1t is upon this they
thrive for thank God, in this great land no wealth, no
opulence, no mere superiority of the pocket, can stand
against an a ~quickened public sentiment.
We wish to speak plain facts. 'The Galcna, Dun
leith and Minnesota Packet Company" is such a mo-
nopoly. Of this there is no doubt. That they arc
hated and condemned along the whole line of their route
there is no doubt. That the cruel and heartless manner
in which they have ridden over and trodden down the
interests of everything that came in competition with
them, as in the case Of the TiMomingo, has won them
the universal il-will of all honest men, there is no doubt.
We do not mean these things Extensively. We believe
that those who have the conduct of the company in Their
hand, are polite business men and are doing all in their
power to remove these feelings. The Secretary of the
Company, Mr.. George G. Blish, in his letter of tht
18th ut., to Mr.. Burns, of this place, says that the com
pany are DESTROYS Of doing justice between all localities
and Of satisfying the people. This we believe, or W.
would be forced to believe that they lacked the ordinary
perceptions of common sense. as.33
But there is a class of men in their employ who have
no such feelings. We refer to the Captains Of some Q
their boats. Since navigation opened some Of these mer
l,auo made II their consfanf andnauor To ahusa and in