The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1861-01-18

but totally unavailable to meet the
| just dues Of eastern creditors.
In this singular emergency, con-
fidence in our people i'll the security
OF their banks, and forbeai ance to
! press claims upon them, added to the
prompt and juiicious action OF the
bankers themselves, saved the com
mercIal and agricultural interests
from imminent peril, if not utter ruin
| The stock panic commenced subsid-
ing as soon as its causes were under
stood, ana it was ascertained that
the interest to become due on stocks
at tie commencement OF the present
year would be promptly paid. In
debted States made speedy arrange
ments to meet their interest, leaving
no grounds to distrust either their
good faith, or their ability to pay.
The prices Of produce, with every
other al tlcle, underwent 4 favorable
change; sales were made at fair
profit; acceptances became due, and
were daily met, and arlcady rates Of
exchange have fallen sufficiently
to enable remittances TO bemade, and
business Of every kind to resume its
wonted 'urso
Indeed, the panic and its effects up
on Wisconsin trade have probably
disappeared, while our people have
still OH hand, ready for improved
prices, at least sixteen millions Of
bushels Of their surplus crops. When
| fhIS Shun Ea,.o E,.,,, call o,1
proceeds realized, a large amount of
| i'll debtcdness will be wiped out, and
the community left III i condition OF
compar alive atflueuce.
In former messages | have repeat-
eddy adverted to what | regard as
evils i'll our Banking system, and |
still believe the nearer our currency
| approaches q specie standard the
less liable it will be to sudden spas
modic fluctuations IN exchanges Or
| otherwise.
In thelsolated position of the State,
cut off, as 1t is, for about three
months every yearfrom the sea board,
when shipments cannot be made, and
consequently the basis Of exchange
cannot be readily renewed, it is pro-
bable that rates viii always rule
higher in winter than the summer
months. This seems necessity Of
our geographical position. At the
same time precautions should, If pos
slble-(by keeping our circulation up
to specie value, and by preventing
combinations among bankers and
brokers)-be taken against excessive
rates which are not only an excess
sive tax levied upon the producing
classes, but may amount to prohib-
| itlon upon common business tranSlc-
items amorg citizens. So far rs these
evils can b. remcdlcd by legislation,
they require, as they doubtless will
receive, your careful attention.
| SPECIAL PREMIUMS.
| r. view Of the probable difficulties
| which may embroil the States of the
| Union, but more especially with n
purpose of developing new agricaltu
raj products, and rendering our citi-
zcns more nearly independent by rea-
son of their horse productions, |
have deemed it proper TO call the
especial attention Of the Legislature
to the proprlety Especial premiums
on one or two products, from whose
! diffusion important aud valuable re-
suits may be anticipated.
The annual expenditure Of the
people Of the State, for supplies of
sugars and syrupS, reaches beyond u
! million Of dollars. Experience has
already demonstrated that the rcccn-
tly-acquired Imphic, Sorghum, or
Chinese Sugar Cane plants. may be-
cone acclimated, and open a widc
field for the enterprise Of agricultu-
riSts. Thus far, the cultivation has
only been experimental, and on too
| limited Il scale to be regarded as q
falr test. But these experiments,
made generally in connection with
other pressing labors distracting the
attention, With limited means and in
adequate apparatus, have afforded
very satisfactory results. They seem
to render 1t certain, that every acre
Of good cane will produce from one
hundred and fifty to three hundred
gallons of syrup, equal in qnality to
any imported, and that the manufac-
ture of sugar Is also an attainable end,
at but moderate cost.
1t is difficult to induce agriculture
lists, engaged in the common farm
pursuits, to devote their attention to
4 new crop Oh a sufficiently large
scale, and incur the necessary outlay
Of capital required, without some
special inducement. | suggest,
therefore, whether it is not matter
Of sufficient Importance to the State
to offer for one or two years, under
suitable restrictions, liberal prcmi.
ums or rewards to the producer of
the greatest amount of cane, and the
largest yield Of sugar and syrup of
approved quality. Ten premiums
could be 50 graduated as to call for
sum not exceeding $500 in the
aggregate, making the highest one
thousand and the lowest one hunr
dred and this would, in my opinion,
invite alively competition, from which
the State, i'll time, would reap very
essential benefits.
The cultivation Of fax, also, is a
branch Of arricDlturp pntitlci 10 Snp,