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

MM AOONS 81 y
Trade continues dull for the season Of the year, which
isa somewhat anomalous state Of affairs, considering ths
plethora Of money and the abundance of all tia material
elements Of wealth in the country. 1t Is true that the
losses Of enforced stoppage Of business during the last
few months bear heavily everywhere, but the lesson may
be Of some small service, if it saves Us in future from,
becoming the prey of interested panic-makers FIRST, and
OF those clamorous promoters of panic next, who exag.
gerate and invent tremendous losses, to restrict trade
when the vast show Of losses made is found to be q
proportion absolutely too ANAL to seriously Affect any
solvent creditor. Our losses are real and severe enough,
not, IS these false clamorers pretended, because business
and banks, and the credit system Of the country were
: rotten to the CORE but because We have had three or
four months of enforced idleness and non production,
thousands Of compelled sacrifices to meet current obliga.
tione, and the anarchy of exchanges, which brings every.
body in debt, because be must live and sustain his
business, and yet can produce nothing. These are real
and serious losses, and due, more than all 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 is yet . heavy
balance on the debit side Of most Of our mercantile
ledgers, and the principles Of commercial integrity, a.
well as the ordinary prudence which should gside and
control business, admonish Us of tue imperative neces .ity
- ~'~"N VU VO1IkASIO00 VeIOIcI Uc0TIlOk new O0CS.
Money continues as plenty a. ever, aud at rates low
enough to propitiste even the most inveterate simmer
IN the street. G1od business notes continue scarce, by
reason OF the contraction of general trade during the
past Summer and Autumn, and the rates range from
. to y per cent, according to muturity. Very short
prime paper has been done az low a. 5 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 IL
which they had attained when the revulsion 6rst began
to make itself felt.
The cold term bids fair to continue until the end Of
Winter, which is now close vt hand. The past fortnight
has been a special Providence for the ice-dcslers, and
the crystalline production is now harvested in great
abundance up the Hudson. Ice j, not onlyla comfort but
a necessity in New York during the summer months,
AM We are, therefore, glad to know that there Is to be
All abundance the coming season.
lhe news from abroad is encouraging, so far as 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.
The Bank Statement for the past week is every way
favorable. The Specie balance has increased nearly a
million and a quarter Of dollars, and now reaches about
tn'rty'ons mlillons-the largest amount ever held in the
BANK vaults. Notwithstan ling the accumulation O
capital in Bank, there is a decrease in the amount for
which these institutions are able to find 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 a.
AZ its present abundance. This transition
has occurred within a 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. Still 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.