The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1855-09-22
Condition Of ibe Gom,trp.
A CHEERING PROSPECT.

Ever and anon we hear some croaker pre-
dict that we are on the eve Of some great com
nicrcial crisis. Ask for the reasons. and it i.
impossible to obtain them. The general re-
ply is-therc is no long lane without turn
ing, or in othcrlwords. that the Republic has
prospcrcd for So many years. that some disas.
tiers must speedily take place. 1t is never
thclcss nndcniable that all the leading branch.
cs OF trade, commerce and manufactures arc
in sound, wholesome and thriving condition.
The crops are abundant, our manufacturing
establishments are all busily employed. the
Fall trade is excellent, our railroads never did
better business, the leading hotels Of the
Atlantic cities are thronged, gold continues
to pour in by millions from California, and
mechanics and day-laborers are constantly
engaged, and at high wages. These are Ger.
tainy all wholesome indications. 1t is true
that there are many individual cases Of ex-
travagancc in living, and it cannot lie denied
that much frvcrish excitement exists among
bold and dashing Spectators But these cir
cumstanccs have little or nothing to do with
the general courses of trade, and the onward
career of the Rcpab!ic. There has been no
failure of the corn crop, more Of the wheat
crop, and none Of the cotton crop. On tac
contrary, all these products have realized,
and arc likely to realize the expectations OF
the saneuinc. True, the prices OF every des-
cription Of grain have declined. ard yet the
country in consequence of the abundance will
realize, by her experts of the surplus sn inn
mcrse sum beyond ordinary seasons. The
National Treasury too. is full to ovcriiowing
we are at peace with all the world, and des-
pite the momcntary estrarsgc.ncnts that oc-
casionally occur. it is to be hoped that we
shall so continue for many years to come
Throughout the length and breadth of the
land, we are at this moment afflicted with no
great calamity We except the pestilence in
Virginia. The States that were some Years
since in bad credit, in consequence Of their
failure to liquidatc their Indebtedness, have
most of them recovered the reputation that
they Ind lost Tor time, and the few that
are still rtniss, will in the end be induced,
by the force fpublic opinion and moral OBJ
legation, TO follow in their footsteps. Surely
then, we have every reason for congratulate
ton, hope and confidence. rather than for
croaking and dependency. AS nation we
arc emincntly prosperous; and the future is
rich III promise offurther and still more rapid
advancement. 1t is a long time indeed since
airy of the great cities of the Union have suf-
tercd by an. overwhelming contlagntion.-
Fires occasionally occur, rs those which
have recently taken place. But the system
OF insui ance is so general, the loss to lndivi-
duals is in most cases comparatively trifling
In relation to Philadelphia, there is indeed
every cause for congratulation. The city has
improved more rapidly in the last five years,
than within any similar period for halfa CEN
fury. This is perhaps. more apparent to
strangers than to old residents. What takes
place gradually and daily, Immediately be-
fore our eyes; docs not strike us with the
same force that the accumulated work docs
to strangers after an absence of years. For
example, the editor Of the Erie Gazette, who
recently paid us visit, gays in late letter :
"Philadclphia is advancing rapidly. Its
borders have extended astonshngly since
last visited it. Large three and four story
brick blocks now fill up many Of the lots in
the direction of the Schuylkiil which were
then vacant. This, in the absence Of other
evidence, argues material increase of busi-
ness. A gentleman long connected with
heavy Commission House Oh Broad Street,
Informs me that the impetus communicated
to the commercial and manufacturing inter-
csts of the city within the last two years is
unprecedented in its history. He snys every
business man feels it, and every one is appro-
priating (of courSe) to himself the utmost
possible me assure Of desirable benefit. l am
free to say, that feel proud Of the metropo-
lis Of my native State.''
But when we commenced these rambling
spcculations, We merely intended to direct
attention to some facts and figures on the
condition and prospects of the country, as
grouped together by tho intelligent editor of
the Cincinnati Railroad Record lie, allullcs
as we have done, to some of the crOakcrs of
the day, admits that there has been OVERHEAD.
ing and extravaganza in some cases. but coll
tends, nevertheless. that more solid pros
pcrity never existed in any country than ex-
ii N of affairs in 1876 and 1886. and SUNS up
his views Of the national prospect thus -
lin 1916, and in 1886, the money of
circulation was mostly paper: which. if not
redeemed in specie, was comparatively
In 1916, the paper circulation
was to coin, as liz to l.: and in 1886 it was
~ to l.: but in 1855, it is about to |. The
difference is immense. In 1916 the coin IN
the country was only e. 100000; in 1886.
1913 DOC, 900: but in 1858. the coin and bull
lion is, at least S160.oOO,00O! The coin in
the country is actually S20,000,000 more
than it was year since. The paper and coin
circulation of the United States now equal
three hundred and twenty millions or about
IL to of the population. In this state Of
things. it is utterly impossible that the cur
rcncy should not continue sound and safe.
This takes ont one Of the greatest cvils of
1916. and 1886.
2.-Thc heavy crops. and fair prices of
those crops. enable the farmers to make ready
payments. and accumulate surplus means.
which did not exist in former periods Of en-
barrassmcnt.
3.-Thc accumulated capital of the coun.
try, in the past ten years, enables us to be
less dependent on foreign capital, and to have
a surplus continually returning for new
works. For example, the railroad dividends
amount now to about twenty millions per an.
nun, and double that sum in their actual
Here is an immense income,
most of which is surplus, to be turned over
to new uses.
4.-Thc exports now are much greater. in
to the imports, than they were in
the two former periods We have referred to.
The following are the deficits Of exports
under imports. in each of the three periods
! st period, 1878. 16, l7.'lS $l65, 100000
I'd period, 1884, 80, '36. 81, 10000, 600
81 PERIOD. 1850. 81, SO, '53, 90,000,0O0
In l8l7-lS, the deficit was one-iourth Of
four years importations in 1868. it was
one. fifth; but in 1853, it was only one-ninth.
The great point is. however, that we have
of California gold to pay it with.