St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-16

Cursory Glance at Some Of St. Pauls Big Insti
tutions and Their Outputs.
Proud Record and Continual Development AS
sured as the Months Go On.

Those who have passed through the
throes and pangs of a debilitating sick
ness and tasted the sweets of GONZALES
cence can best realize the Joy with which
the body mercantile prepares to greet
the return of commercial health, the
dawning rays of which already begin
surely to gild the Eastern horizon.
Mercantile aud financial st. Paul. re-
Joicing in sounder underlying consti-
tuition than any other city in the broad
land, passed through the financial epi-
demic of depression without having be-
come bedridden. What became with
ering plague in the other great cities,
where extravaganza, speculation, ficti-
tlouS capital and unSound methods Of
fered tempting lodgment for the trade
disease, came only as salutary warn
ing to the great ana solid commercial
community of this great and beautiful
city; and now, as the coming purity of
the business atmosphere is already being
gratefully shifted by the nostrls of act
i've traffic, it is with feelings of pardon
aUie pride that 81. Paul can look back
over the terrible season and find the
path strewn with not single wreck.
What other city of Importance can
point to a similar record?
The financial strain that passed like
cyclone over The country and marked
its tracks with the wrecks of banks and
business house had no more effect upon
st. Paul than a summer zephyr. Not
business concern closed its doors; not a
bank trembled. With its rugged con-
stitution built up by actual capital and
sound methods, the body mercantile of
st. Paul passed through the ordeal un-
scathed.
The future is full of promise.
"COniidence," said prominent bank
er yesterday, rs at the bottom of every
transaction in which actual values are
not transferred. Nearly 95 per cent of
the commercial and financial transac-
tioEs Of the country are upon paper,
valuable only as the receiver has conf
dence in its security. In st. Paul that
confidence scarcely wavered. With
faith In themselves and in each other,
the institutions of the city stood to-
gether and presented solid front that
resisted anything like fear or a panic.
We can see the evidences of a return
to what are usually known as good
times. The most marked symptom is
the increase of confidence. it is shown
in the reappearance of money that tor
the past three months has been hidden
away and Withdrawn from the channels
of business. The individual number of
accounts at our bank has increased
three per cent in the past week. and at
that rate we will soon have a larger
deposit than we had before the begin
ming of this So-called period of depres-
sion"
"Do you note any other evidences?"
81 rely upon the fact that this buoy
ant feeling comes right at a time when
the natural depression of the summer
depression that has no connection
with either times or pOitics-is having
its full effect, yet Notwithstanding this
fact the most hopeful sentiments are
heard on every side"
The most blatant calamity Shrleker
Will admit that the depression of this
year will be followed by period of the
utmost prosperity, as the natural result
of the revulsion. The shrewdest reader
of the signs of the times firmly believes
the same aud practical business men,
who sagaciously reason out a situation,
have not the slightest doubt that good
times are behind the present dulIness.
Granting this to be true, there should be
rejoicing in st. Paul, for there is every
evidence that 1.-The good time coming''
Is nearly at hand. The crops of the
state aud Northwest promise well, and
the end of the harvest time will mark
the beginning of-not boom-but of a
wholesome, vigorous era of prosperity
for all classes and conditions of man
kind.