Sauk Rapids frontierman. [volume] (Sauk Rapids, M.T. [i.e. Minn.]) 1855-1860, 1857-08-27
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As'SN sAAsASAFss pAPPtsi& tH0 sources OF n@E
credit, and endeasoring to bolster dp
the financial rottenness Of New York BIZ
the ruin e Ga empire. They would cut
Foif the only avenue capitalists have by
which 70 escape unreasoning naurY laws
and interruptions stock brokers. The
new Peter, the Hermit of the Tribune;
tlie imn,a cnlate Herald. thu Times, and
the lesser lights ofthe great and growing
commercial metropolis owned and con-
troiled as the world knows, not by the
men whose names float at at the mast
head, but BY operators il Wall street.
are suddenly appalled, BY seeming con-
seriousness BY the fact that the capital
they have always. considered their le-
climate prize is being withdrawn into
other channels, and they are amazed at
the audacity of leaving the Reading
Railroad and other Il fanciesn for the
new field of Western Investments
though n oil street locates every year
thousands Of acres Of Territory, alone.
the emigrant and the small capitalist
bad better withdraw from the peril.
After you have reaped the golden har-
vest Of the west, @ !! New York, why
may we not CLEAN the stubble? The
philosopher Of the Tribune, aghast al the
storm Of his own raising. would people
Kansas but with paupers. Let them
emigrate, he says in effect, but let them
leave their capital in worthless stocks
and to the tender mercies Of dishonest
directors.
There IS a cause as well as an effect,
and this western movement Of popula-
ton and capital is founded ia the OPP
pression Of capital over labor, in the
East, in its over-crowded cities, in the
dullness Of navigation, numbering and
leading branches Of industry, in its un-
remunerative prices ofmechanical labor,
in arbitrary laws fixing the use Of money
at certain per centage whatever be the
agitation Of capital. in the redundance
Of foreign emigration, and last but not
least, upon the little confidence men
feel and have long since felt in the lead
ing investments OF the East. This is the
cause, the rapid settlement Of the west
the effect; and the increased rapidity
Of emigration this year is propor'ionate
to an increased lack.of confidence in
eastern schemes, more extended dull
ness in mercantile and industrial circles,
and a rapid depreciation ia real estate
occupied for purpose ofagriculture; and
the eastern farmer, who, by unremitting
labor ekes out a scanty substance on
his barren soil, as well as the weather.
agriculturist or larger farm and bet
ter ground and in the best year who OBJ
tains from crops the slight return Of 3
per cent. on the cost value Of land,
fearing that property will still further
sdepreciate, that competition will still
further injure the chances Of remunera-
ton, and beirg already loosers Of their
spare capital in railroad investments
laak about them for new fields and
ipme. They come west, their sue
~ and their example bring others; till
now 4 mighty food Of life choking up
every outlet and swelling at every adj
vance flows over broad prairies where
five years ago the voice Of 4 white man
was never heard. n
That is the secret, there is nothing
unnatural about it but the rapacity that
keeps its victims within its charmed cir
ole. Hence, we hear the shriekings
aof the leading journals imploring those
who have put their hands to the plough,
to turn back. Every instance Of i'll
success IS chronicled, every man who
finds fault and returns has his statement,
and from those isolated cases and this
exparte testimony the West IS denounc-
ed by these judges who have the most
10 gain by such decentralization and the
largest interest in the cause But what
say they Of the millions that have gone
forth and never returneda What ofthe
cities peopled as if by magic, that have
risen as by some potent enchantment on
the Mississippi, the Lakes, and even on
the Frairiess What ofthe steamboats,,
the railroads, the canals, the grand en-
fterprises? Is il strange that by blind
ing their eyes to the truth they have fall
len into the arms Of falshood? s3 vi .s
a'. People who live ia glass houses
should never throw stones. Z Are your.
hands 90 white, o.! East, that you can
ldefile us9 Are you 50 well advised Of
your own stability, DC your own financial
future, that You can discredit us1 Is
there nothing IN the signs Of the times1
Why j. i that your ships lay idle at
your wharyess why lis the lumber
trade 50 proftless, that the capital once
employed ia il in Maine, comes here 80
why comes The farmer and the mechan-
ic1 and coming as they do, the van
guard Of q still largerAarmy; it is well
YOU tpemble, for a fntyre.that payresplt
1 il disaster =
| ,4A financial crisis, 4 great crash is
nearer you Than US, The crash here,
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