Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1858-11-13
Monetary Matters.
Prepared soeekIy by j. jay Knoc d Co., Bankers
Ph@nic Block, Third st. st. Paul..

Prepared soeekIy by j. jay Knos d Co., Bankers,
Phenio Block, Third st. 81. Paul.
With the close of navigation another winter
is at hand, which if not as pinching as the
last in financial matters, will still be sufficiently
so to make the scarcity of money most evident.
In some respects, the winter to come is to be
great improvement over the last. The pro-
cess of liquidation has been rapidly going on
the last summer. Good debts have been paid
or satisfactorily arranged; bad debts have
been either given up as a forlorn hope, or
creditors have taken their pay in such assets
as the debtor could offer. Our merchants,
who have asked and obtained extensions, have
bought their new stocks most sparingly The
people have economical and are buying little
that they do not need and cannot pay for
We have for the first time raised our own
produce for the winter, and have sold at least
$4,000 in value to our friends below We
are not, therefore, in debt oae-half the amount
to the East as at precisely this time last year.
The panic last fall entirely prevented the flow
OF money into Minnesota.
The coming season, ::more or less, money is
to come hither for investment, attracted by
incomparatively low prices Of Real Estate.
Still the winter is to be a severe one to those
who have debts to pay, and the cry of 'hard
times" will be as frequently heard from the
borrower and lender as the shout of the news
boy in the street The following article which
we clip from the Independent is full of good
advice and cheering words
The Wrsr-"No part of the country has
suffered so much, during the long continued
commercial arrangements with which the ma
ton has been afflicted, as the West. Her
movements, of late years, have been too rap
id. Not satisfied with steady growth, nor
with even extraordinary prosperity, she has
plunged into reckless speculation in wild lands,
| city lots, railroad stocks and bOnds-every-
| thing which promised short cut to fortune
No part of the country has more real enter
prise than the West, and none which can
present so many tempting indictments to la.
Dor. With lands by millions upon millions
of acres, the richest, perhaps, in the world
no man who exerts himself need fear of having
enough and to spare" We wonder not
therefore, at the rapid recovery in that section
| from late troubles. 1t will require yet more
time to bring these things all right again, bu
that they will come right speedily, is now Ger
tain. Light is already dawning. Our mer
chants report, of late, better collections from
that quarter, and also a better business
Thousands of good men are embarrassed
more or less, but with courage, cheerfulness
and retrenchment of expenses, they will fine
land not far ahead. We would say to West
em merchants at this critical time, shoe y0ul
| pluck, your back bone. Your Eastern credit
ors want to hear no more whining or com
plants of bad weather, short crops, or thu
scarcity of money. They want to knOw tina
you have your shoulder at the acheel, and tina
there you intend to keep it, until you are once
again in comfortable circumstances. A sing,
word more If you have paper under protes
get it up if possible, or make the attempt tt
do so, before you sleep another night. fyo,
can't pay all, pay a part and if you can
pay dime to-day, but have REASONABLE
prospect that you can pay soon, renew you
notes, keep them alice, and pay as fast as yo'
can. Wake up and contribute yOur share t
hasten that "new era Of prosperity" now s.
devoutly looked for"
Exchange on New York remains still at tn
quotations of the summer, bringing pc
cent, selling one per cent. premium.
There is very little doing in land warrants
or in City or County scrip even at the reduced
rates.
The City Treasurer gives notice that tn
county and State Tax can now be paid at hi
at his office. A deduction of ten per ccna
will be made on all taxes paid Immediately
Parties wishing to pay taxes, will find Count.
scrip and State orders at our Office.
| wy scrip. IoC.
| ctdte OrueTS.. cO
Money is in good request and is loaned Of
short, unquestioned paper, or for year at
per cent. per month.