The emigrant aid journal of Minnesota. [volume] (Nininger City, Minn. Terr. [i.e. Minn.]) 1856-1858, 1858-03-03
OssraMe,v YEA CssrsseSo1soee.

EME
Trade continues dull for the season Of the year, which
isa somewhat anomalous state of.a.irs, considering til.
plethora Of money and the abusdsnce Of all tbA natesisl
|elanents 81 wealth 10 the country. It il Il true that the
losses Of enforced stoppage Of business during the las'
few months bear heavily everywhere, but the lesson may
be Of some small service, if it saves us in f.tsre from
becoming the prey Of interested panic-makers 6rSt, and
Of those clamorous promoters Of panic next, who exsg.
gerate and invent tremendous losses, to restrict trade
when the vast show Of losses made is found to be 4
proportion Absolutely too small to seriously a1sct any
solvent creditor. Our losses are real and severe enough,
not, - these hlse clamorers pretended, because business
and banks, and the credit system Of the country were
: rotten to the CORE but because We have had three OF
four months Of enforced idleness and NON production,
thousands Of compelled sacrifices to meet current obliga.
tions, and the anarchy of exchanges, which brings every.
body in debt, because be must live and sustain bis
business, and yet can produce nothing. These are real
and serious losses, and due, more than Ill things else,
to senseless clamor, and equally senseless fright.
We are just emerging from ; protrscted period Of
serious disaster, and it is the part Of Wisdom and fore.
sight to guard against its return. There i yet : heavy
balance on the debit side q most Of our wefcantiie
ledgers, and the principles Of commercisl integrity, as
well as the ordinary prudence which should gside and
control business, admonish Us Of the imperative neces iy
70 1~suotAuS Vu OU1IkAtlou6 VekOIc I0c0TT10& new O0c8.
Money continues as plenty a. ever, and 1t rates low
enough to propitiate even the most inveterate simmer
IN the street. Good business notes continue scarce, by
reason of the contraction Of general trade during the
past Summer and Autumn, and the rates range from
8 to 8 per cent, according to ~muturity. Very short
prime paper has been done as low ~ S per cent. On
call, the rates are 5 a I per cent.
Speculation is still rampant at the Stock Exchange,
and the general course Of prices is upward. Prices Of
the sound Stocks are rapidly ascending 70 the pint u
which they had attained when the revulsion FIRST began
to make itself felt.
The cold term bids fair to continue until the end Of
Winter, which is now close Ut hand. The past fortnight
has been a special Providence far the ice-dcslers, and
the crystalline production is now harvested ii great
up the Hudson. Ice is not oplyla comfort but
q necessity in New York during the summer nouths,
AMI We are, therefore, glad to know that there Is to be
al abundance the coming season.
The news from abroad is encouraging, so far a. money
matters are concerned. Trade Is the great manufactur-
ing districts Of England is gradually recovering itself,
and the same remark holds good in reference to France
and the Continent in general.
Inc Bank Statement for the past week is every way
favorable. The Specie balance has increased nearly q
million and q quarter Of dollars, and now reaches about
t%h'rty'ons millionaire largest amount ever held in the
Bank vaults. Notwithstanding the accumulation o
which these institutions are able to End employment.
The excess Of gold beyond its profitable uses, must be
regarded as one Of those financial phenomena Of which
the present times have been more than usually prolific
Very recently the scarcity of the precious metal was .s
AZ its present abundance. This transition
has occurred within q period Of ID &c months.
You may depend upon it that the Immigration West
this season will be an unexampled kind. On every
hand hear Of parties making preparation for an early
start St'il more; from customers and correspondents
from Ohio, Illinois, and Indiana, Ill state that prepars.
tions are being made to go West, even in those States,
by mechanics, farmers, and others. WALL STREET.