The emigrant aid journal of Minnesota. [volume] (Nininger City, Minn. Terr. [i.e. Minn.]) 1856-1858, 1858-01-20
Our New York Correspondence.

~ NOV 4OGA- 1COROAs0Os9O0s
New YORK, Jan. II, 1858.
Editor Em,gromt Aid Journal: saf ~ ST.
have been so pleased with the practical information
conveyed by your Journal in reference to the grea
West, to which all eyes in this section are now turned
chat I propose in return, from time to time, to give you
u few data as to the state of affairs here.
Times are mending in one sense, and yet in another
they are at a stand still. We have less subject Of com
plant because we know that the finances Of the city and
country are in excellent condition, and yet business o.
all kinds is PROSTATE, and enterprise seems totally ex
tinguished. The banks are overaowing with money
we have now s28, SCI ,946 in specie for 81 ,843,23l just
after the crash came, showing . specie increase Of over
twenty million dollars in less than three months. Such
a mass of solid wealth never before was collected in oul
city. On the other hand however, our merchants have
not yet gotten fairly over the palpitatious Of the heart,
induced by tie late CONFUSION of the financial world
The money lies idle. With every disposition ON the
part Of the banks to make leans, the present rate Of
loans is but thirteen hundred thousand more than Al
the worst period Of the crisis, when every moneyed in.
~.titution was refusing accommodations to its best and
and oldest customers. sThe burnt child breads the
FIRE. and our business men have not yet forgotten the
fearful Lessons they have been taught. Humanity how.
ever is the same at all times, and it will not AXE long
for ambition, extravaganza and mental restlessness to
set the whole machine going again at the same fea, fal
rate it was making when the crisis came down upon
it. We believe, with Senator Seward, that the public
will rise from the panic as rapidly as it tumbled into It.
We will once more see over-importations, over-credit and
over epeculation, and the mad world will rush on AZ
usual & !! "a #Hlls gao lh4s8 / b Is afl go,
Railroad stocks are becoming active and rising rapid.
~. The Tri5u1e thinks, because Of the lack Of activity
in all other branches, the surplus funds msst find some
outlet, and have fallen for the, present upon railroads.
It will not take long TO expand into other branches. IT,
Horace Greeley has been travelling tbbrous u sthbe Wat.
He is Of the opinion that the great r~evulsion, though
depressing and disastrous in its immediate influences
will. ultimately strengthen and bald up the West
Again, while he thinks the day Of paper cities is gone
by, he says:- Nt,.se fe essiif 800 ehs +
There never was q better time for men of moderate
means and expectations to migrate from the old States
to the West tn. u the next season will present. Those
yhn come out With = few hundreds Of dellsrs (if they
be thousands, 50 much the be,ter) will 6nd Improved
lands within reach of civilization far cheaper than they
have been, with teams, stock, grain, and nearly every.
thing else TO match. A thousand dollars will 20 quite
rs far toward settling 2 family comfortably next April
as two thousand did last Spring say enphaticaliy to
all who aspire 70 live b, work rather than speculation,
If you can get comfortably into the West next April,
with = few hundred dollars in cash on reaching ahis
point, you can hardly fail to do yell. Single meneor
women who can reach thi. point with even tep dollars
..sb, need have no fear; though would advise nome 81
-'"a ons hour longer IN . city than may Be ne
a,,;rsd - ~ ,.,..,.; ~ wllleh route 70 leave i. ~ sPl.:
y 1' .tu : us' e;'ma Z, -~-.s4tioa, there !, stia
work FIR all tho .hIu md silica ,n 49,. to.~A 1890.
Vt course, labor must Le nomlnally lower next season
than It has been; but q year wages will buy more food
md clothing, land and outfits, than it ever did. To all
who are willing, aud know how to work, and Who fnd
employment with difficulty, or not at alI, in tie East, 1
ny again, set your faces Westward as soon rs you posi-.
can. Avoid the cities, unless you are skilled in
some handIcraft which is there in request, and seek
homes on the soil-the homes If those Who hire you Vt
Dus only to exchange those in due season for homes
your OWN. Combine fertile soil with : healthy loca-
ion ct ali events, and you can hardly 20 amiss. a sin.
re man may step Of into the nntroddsn pairis and