The Sun.
London, England, 1866-02-24 00:00:00

Business in New York.

The New York Times says that the great business
houses and manufactories of that city are making
the most active and extensive preparations for the
spring trade, and canvassing its prospects with the
greatest eagerness. Within ten days or a fortnight
the wholesale trade in nearly all lines of goods
ought to be very brisk in the ordinary course of things,
for the merchants of the West and South require to
have their new stocks on hand by the month of
March. Up to within the last five years the course
of this erade was pretty uniform and certain ; though,
of course, with each successive year it increased
largely in magnitude and scope. But since the late
war opened, it has been uncertain each spring and
every season ; and business and financial affairs
are still in such a condition as to give rise and
plausibility to the most contradictory speculations
on the part of those immediately interest. 01
course the speculation and the variation of opinion
relate mainly to the Southern trade and the
Western trade. What are the necessities and what
the demands of the Southern States ? What Is
their competency to pay on the business terms new
current in New York and throughout the commer-
cial centres in the North in general? What means
are at the command of Southern merchants ? What
money is in the hands of Southern planters and
people at large ? What about the price and pros-
pects of cotton ? Looking southward it would seem
pretty certain that a very large breadth of cotton
will be planted. In all the States a great propor-
tion of the negroes will resume work upon the old
plantations and at the old industries. They have
had now nearly a year's actual experience of free-
dom in its fullest sense, and have by this time come
to a realisation of what are its absolute necessities.
If they ever fancied that liberty meant idleness and
" pumpkins," hard experience have already taught
them otherwise. The agents of the Freedmen °
Bureau have also done, and are still doing, an excel-
lent work in inducing the blacks to resume their
labours to which they have been reared, and 111
which they can succeed to the best advantage ; and
on the whole "the shovel and the hoe" will be plied
by at least a half of those accustomed to their use'
We hear also that many of the white people of the
South, who in other days have been engaged in
other persuits, have gone to the business of cotton
planting, because of the unprecedented profits it
promises. As to the relation of the finances and the
currency of the spring trade, it is quite certain that
there will be no such violent changes in the poheY
or action of the Secretary of the Treasury, and no
such legislation by Congress as will violently affect
the present state of things. There can be no such
contraction of the currency as some business men
fear ; but whatever is done by Secretary McCulloch
will be of that cautious and conservative character
which he has frequently set forth as essential to
the business interest of the country. *Whatever Is
in his power to aid the prosperity and productielli
and trade of the nation will be performed, an
whatever would by its action have an adverse
tendency will be avoided. And all these, with other
considerations, lead our contemporary to look for;
ward to an active and profitable spring trade, and
justify the preparations of our houses for its
speedy commencement.