The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1858-03-30
The Financial Advices ana Spring Trade.

| Inc nnanclol ana cOmmerciSl lnteill
gence, brought by the America, Is just o
the nature that was generally anticip pat I'd
Bullion continues to terminate at all th'
principal financial centres Of Europe, ant
a general decline in the ratios Of interes
had taken place. The Banks of England
of Holland, and of France had still furth
er reduced their rates. It is reported tha
some private transactions had taken plac
in London even 80 low as Q per cent. AL
this is but the continuation Of the move
ment that has for some time been visible
and is the unavoidable result Of suddel
stagnation of business, which, while It ex
listed, gave employment to and activity Il
money, 80 as to create demand for th'
latter. edt
This almost unprecedented abundance o
money is about the best evidence that car
bc afforded of the unreasonsSleness Of th'
panic which overlook the community las
fall. 1t was apparent then, to the few who
were cool enough to examine and reflect
on the state Of our country, and on pass.
ing events, that there was no real necessi
ty for tho alarm that existed, and that the
pressure for money was augmented ten
fold by the fear which had taken possession
of the public mind It is bootless now TO
speak Of the mischief this trepidstion oc-
casioned-at the sacrifice that business
men were compelled to make in order to
meet their engagements, or Of the failures
that took place of houses with abundant
assets on hand, on which it was impossible
to realize. The dark day is past, and we
are enabled to perceive clearly how great
and substantial is the wealth that has been
accumulated both in the United States and
in other countries, during the last twenty
years-a wealth which goes far to justify
the activity which every form of industry
has of late years assumed-a wealth which
forms, or ought to form, solid and inde-
structible basis Of credit and confidence.
With the increasing abundance Of mon
ey the foreign advices are that one of our
great staples, cotton, is advancing in price,
with good demand for it. The margin,
between the production Of the raw article
and its consumption in manufacture, has
been unwontedly small which accounts for
the high price our planters have been able
to obtain for the articles price, by the
way, under which the British consumer
has been very restless, and which has led
him to stimulate experiments in cotton
growing in India, Africa and elsewhere.
As the purchases, prior to the sailing of
tho America, were made not 30 much for
speculation rs for actual use, in anticipa
tion of further advances, the British man.
facturer seems to be Of the opinion that
under TIE influence of an easy money mar
ket full resumption Of business is not far
distant.
Meanwhile tho abundance Of money a
broad and the low prices at which it may
be obtained, ares timulating speculation in
stocks, just as they are doing here at home.
Those who watch the movement Of our
stocks must notice that the rise which has
taken place in securities Of this kind is
not confined to those possessed Of intrinsic
value, which had sunk much too low un-
der the pressure for money. 1t extends
10 the most worthless stocks on the list,
which have risen far more rapidly than
those better worthy of credit. There is
disposition in England to engage once
moro in American securities, and also to
speculate in consols and home stocks. In
deed, this is the very spirit which an over
abundance Of money engenders. 1t will
not remain idle. IL it cannot find en-
ployment in regular business, IL it does not
circulate in natural and wholesome chan
nels, 1T will overflow widely and recklessly
in speculation. Fortunately, at a time
like the present, the same disposition that
tends to speculation tends also to promote
the activity of production and commerce,
which after season of unusual idleness,
exhibit disposition to resume their accus-
toned condition.
What influence the foreign advices will
have on the spring trade in this country, it
is impossible, perhaps, TO predict. But to
us it seems that it ought to encourage pur-
chasers. The business Of last fall was ne
cessarily light, that Of next fall will un-
doubtedly be heavey, and We judge sales
will be made at enhanced prices. The
tendency of prices is towards rise; the
next fall will find the country bare Of
goods, unless the spring purchases are
heavy, and it is this consideration which
should lead country dealers to buy this
spring They will make their general pur-
chases at better advantage now than in the
fall, and before the summer is over will
most likely experience lively demand for
goods. 1t is always better to purchase
when money is plenty, and when goods
are beginning TO rise, after season Of de-
preston, than to postpone buying. Those
dealers who can, by any possibility, ar
range their affairs 30 as 10 come in the
market now, we repeat, had better do it.
In this way they may prevent themselves
being forestalled by Others, of which there
is DANCE. And now is just the time for
men Of enterprise and forecast TO make
those lucky hits Of which fortune is the
prize. There is no mistaking the fact that
the state Of things at home and abroad is
just that which precedes great revival Of
business.--[Phil. Gazette.
n-E Three Cardinals have lately died