, 1859-11-23

tnfSClFcS Ill sFh4a%H} h4AA Lll4us LII III eup'
poso that the foreigners Of this city were
known to bc ouly waiting for arms and an or-
port,,nity to overthrow our government, aud
that any day tic insurrcction might break out:
which would cary arson, rape and murder to
every dwelling in tho corporation. The laugh
in which VIC now indulge Mt the expense q
these meu in virginia who arc yelling their
1oal fears behind an idle pzctenec, would Io
changed to cllatterings Of terror, and we should
then partially know the magnitude and scope
Of evils that stare them in the floo! WHO
says that Rcpublicanism which proposes to
rescue the new Territories from the fate which
threatens Virginia. is net humane, righteous
and Necessary political movement
RETREyCHMENT AND IT'S ET-
FECTS.
III OF: paper Of Monday was given the esti-
mated amount Of exports from Chicago, since
August {some twelve millionsl together with
remarks on rctrcnchmcnt Of expenditures and
its favorable results. The extent Of TINT r.
treqchmcnt, und the important influence ii is
working for tho public benefit may be Illus
tratod BY little detail;
For two pears our Western production and
trade hare been both severely crippled, while
tile community have been heavily burdencd
with debt Two consequences have resulted:
First, an extensive determination to reduce
and liquidate Indebtedness, as fur as possible;
aud secondly, to this end, to restrict personal,
family and business expenditures 10 the lowest
practicable limit, Allow that exceptions cx-
ist, that extravaganza mud recklcssucss arc
still to he found, it wonId be an unjust IT,
rronch upon tic character Of our Western
public to allcgo them upon the community ut
large US il they did nut possess reasonable
share Of com,noa prudence and common sense.
Now, what may be assumed rs the extent OF
this retrenclmeat? In tue aggregate, and in
all forms, an estimate would bo hazardous
But iu regard to personal aud family cxpendi-
turc, it mny he partially judged. The four
millions or more Of the Northwest make up
on the common average, some seven hundred
thousand families; assuming, (which il With
ju reasonable louds) that each family, Oh the
average, has rctrcnchcd TO the amount ol
twenty dollars yearly, We have an aggregate
reduction of fouFtcon millions Of dollars year
y, twenty-cight millions fur the past two
years. To this estimato add tho amount Of
saving in rents of stores and houses, and other
business charges, and tl,e total amount thus
savcd will bc found at important element in
restoring the ordinary equilibrium Of debt and
credit
1t is material 10 remark with tie above,
that this reduction Of expenditure has been az
comranied, at the same time, more o. less, by
reduction Of Indebtedness, and this, proba-
big, to m extent not easily appreciated. lorc
than ono-hslf Of those within uur personal know
ledge, who laro Lccn indebted for real estate,
within the past t*o years, Lave paid their OBJ
l;gntions promptly, AMI in some instances iu
advance; aud that too, by legitimate earning
"1 sayiug. Somewhat favorable opportunity
for observation las convinced lis that tho mass
Of our people who l4avu limited means have, by
diligence, ecouomy aud management steadily
improved their condition within tie rast two
years; and tlat tic Substantial wealth Of tho
city has constantly Increased, in spite Of tic
= hard times- This could I've demonstrated as
true, setting aside auy question Of the market
value Of property, Which may recover from
any temporary depression.
Assuming that we hare not over-cstimated j
the extent Of probable reduction iii general
expenditure, is it surprising that this rcduc-
1ion should have had md continues to have a
Sensible effect on trade, in the country mud in
the city, among dealers at retail and wholesale!
Take into account the two years Of scarcity
among our farmers the sllortness Of money,
and the inexorablc necessity Of curtailcd c1.
penditure, it is easily understood why country
traders arc unable to meet promptly their Oh.
legations, and, as a consequence, the whole.
salo dealer also. 1t is casily sccp, too, why
money is scarce, aud tie ordinary facilities q
=. trade, and clements Of general confidence are
wanting.
s wv "'suAs aAsu'"'' s44S@s' NV" .one
e'au ''''s e1a'e o. !''''ss enooFo: ~ 'he'e
noPc o1 cary se''e' 1'oin thfs prolonged ano
hesy p''esu'e nc "ou'o hot venture
oec'aea oP'n'on III ''il7 regard not VIC may
po'e''y Gnu 70 "ina .na. sae f's'o and cx-
oeus 'eulu1e'N Nv, ' ~ .n' pas' '"o years
eAaao'' ~ 'ae ''ps 'a'' ~ A'i' up sha'f'
eoal ana iamus neeeas'.'es must DC ultimate
. met 'noosn poaponea Inc past season
aA@ ofongnt WIN 1t t"e eono''ons o' relief Il
inc struggling and almost defpa'r'ns hopes o
INC nssoano"an: from " 'scons'n and llllno':
VIC 'oaln 1nat eollccs'ohs have eoen Tar mort
easy 1aan ios tue !sst two years, and thai
tho farmers 1or the first time, show tho feeling
o' Fei'cf aud case Add now, to these cons'd
erahons' the ~e'ghty Tact announced on Mon
day morning, uiat some twelve tnillions it
r three months Lave been distributed in the sec
ton Of country Of which Chicago is the grca
commercial depoti add to this amount .he
. largo sum received at Milwaukee and othc'
. points Of shipment; add, still, the ANTICIPATED