The Burlington weekly hawk-eye. [volume] (Burlington, Iowa) 1857-1858, 1858-01-05

BRlenfExIx0 PRosPscra-Ths following {,
marks ase cut from the busisess article Of Ii
Cncinnati Gazette Of Saturday:
| What are the commercial prospects for 1858
These, certainly, cannot DO regarded a. alto
gsthsr, Or chiefly untavorabls. The wosss Q
the panic has undoubtedly been experienced
and the leadiag interests Of the country ars !,
the ascending scale. Taking the West q ,
whole, or as least the Central States, and il viii
not b denied, vs think, that while the psopl,
nay not have resdy cash 20 discharge their liz
bilities, they have produce and msrchandiss
moro than sufficient 70 liquidaae their dsbts. and
these commodities must before long become
convertible into money. The assets Of city mor.
chants, which consist in large part Of bills re.
ceivable, represent debts due by interior mer-
chants, and the latter are creditors of farmers
% more than IN equal amount. Thus We trace
the debt Of the West 70 the producing classes,
The next question Of interest then 10: Would
the surplus produce held BY farmers, if sold q
present prices, pay their debts! Every person
acquainted with the facts connected with the
last harvest, and who has general knowledge
Of the condition Of the agricultural classes, viii
answer this question in the Affirmative. Now,
il farmers can pay their debts, thus enabling the
interior merchants to discharge their liabilities
to city creditors, the latter can in turn meet
their engagements, and in this manner would
the 6sbts Of the West be liquidated; trade would
be revived, and the wheels Of commerce fall into
their vented channels.
The agricultural products Of the country I'M
deslay all our enterprises. When the former
interests suffer Or ere neglected, every branch
Of busine must be unfavorably Affected. To
The short crops Of late years, our present diff
cultie0 are mainly attributable. Deficient sup
plies led 70 high prices. and corresponding
advance vas established in every other article
Of trade. Thus, while men supposed they we're
accommodating wealth, they were being inflated
merely. The panic exposed the error. Produce
being abundant prices have given way, and this
has led 10 the collapse Of speculative bubbles
generally. The decline, however, has been
mainly in produce and real properly. We do
not hear Of any decided falling on in the value
Of staple articles Of dry goods or general mer.
chandise. Prices are, Of course, somewhat ca
sier. but the depreciation; 80 far ~ this market
or the West 10 concerned. has not been sufficient
20 affect the solvency Of merchants that were
vas chiefly in the hands Of producers, and CON-
the l0ss 10 to be deducted from pros.
pective profits; and, besides this. it i 20 extern
Bivsly divided the: the burthen does not fall
heavily upon the shoulders Of any one man.
Now, il We have correctly presented the facts,
and 10 think We have, It 10 seen that the surplus
produce Of the West 10 more than equal in value |
70 the aggregate amount Of eur mercantile |
debts. There can be NO doubt, therefore, Of the |
Dolveucy Of the business classes, - . whole !
The difficulty 70 be coHtsnded against as present
d caused By obstacles in the way ofan exchange |
Df property. We have the properly in one |
place 70 discharge the debts in another, but |
cannot make the transfer. This results from |
'he arrangement Of buainees, which has led too |
surtailment Of the currency.
OF the latter . large amount 10 idle in the |
Banks Of the country. These institutions, how. |
.vsr, are gradually expanding, and ~ exchange
recedes In value, they put out theis circulation |
With more confidence. This leads to increased /
movements Of produce, and - progress 10 made
% this direction, financial matters Improve I
This has been the tendency Of matters for
month past, aud nothing has occurred, or 10
likely TO OCCUR 70 check this movement Rest.
ng, therefore - che great Interests Of the couo.
~ do, upon solid foundaeion-With abundant
upplies Of the necessaries Of life, and moving
y we are in the right direction, We may reason.
bly, anticipate comparative healthy trade for
he year upon which We have entered.