The importance of this coal field to the interests of Peru and La Salle can scarcely be over estimated. When it is recollected that this is the extreme northern edge of the Illinois coal fields; that the country all north, to the forrest's of northern Wisconsin, is but sparsely supplied with timber, and that growing "small by degrees and beautifully less;" that this country is already interlaced with Railroads, all having a connexion With the Illinois Central, upon which the coal can be "dumped" directly from the mines; that the iron mines of northern Wisconsin are within easy and accessible distance; and that the locality itself possesses extraordinary advantages for manufacturing; its importance can be partially comprehended. One word as to the advantages for manufacturing. One of the most considerable of these is the cheapness, excellency and unlimited supply of fuel. To this must be added the acknowledged healthiness of the locality and salubrity of climate; and the facilities for drawing supplies and distributing manufactures, by river, canal and rail road, which diverge in every direction, and penetrate a country which, for hundreds of miles, has a greater capacity for production, and consequently for sustaining population, than any other country of the same extent on the surface of the Globe. Laborers, mechanics and artisans can purchase the same degree of comfort here as in Chicago or other commercial and crowded centers, where of necessity rents and provisions must be high, for one third less price. This, it will be perceived, is a very important element to be taken into account. It would seem as if these advantages, combined with other and important ones not enumerated, would soon become so convincing, as to make resistance to the establishment of manufactories much longer impossible. The present debt of the City of Peru is as follows: Chicago and Rock Island Rail Road bonds, 40,000 Market House bonds, 12,600 Current expense bonds of 1855, 5,000 Interest bonds voted for in June, 5,000 Outstanding Scrip (about,) 1,000 ------- Total. $63,600 There is enough uncollected, (or in the officers hands) revenue of the year 1857, which is reliable, to pay all outstanding scrip. The revenue of last year, from all sources, was $8,582,34. The whole amount of taxable property, real and personal, as appears, by the assessment roll, was $1,752,306. It will be seen that the financial condition of the city is by no means desperate. When the rail road shall pay its dividends regularly, if the issue of no more bonds be authorized, and prudence and economy are observed in expenditures, no difficulty will be experienced in meeting all engagements, and gradually reducing the debt.