Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-04-24
RESUMPTION OF ACTIVE BUSINESS AND
rOTTpcr on mann

The Bgffalo Commercial Advertiser, of the 18th
instant, informs Us that lake navigation has fully
opened for a descriptions Of vessels and that there
are several other concurrent which lead them
to believe that largely increased activity will be
speedily Witnessed in commercial circles. Business
in the West is beginning decidedly to open up for
the season. Notes Of preparation sound from all
parts. Navigation the Erie Canal commences
on the 10Th next Tuesday;) and before the close
of the MONTH Western produce will be On the way
in large Quantities, on the seaboard. The different
Western railroad companies report increased re-
ceipts during the current month, increasing as the
month advances. The railroads for many months
have been doing a very poor busiuess-less than
usual-and their receipts being below expectation
have had an unfayOrable effect on the stocks Of the
respective companies, though much reduced ex-
penditure has been one of the railroad reforms
/ brought about by the troubles Of last Fall The
railroads, canals, lakes and rivers win become
crowded with freight.
The produce to come forward is represented as
very large and the necessities Of the owners viii
occasion it to be sent forward notwithstanding the
low prices that now range. Low prices alone will
secure foreign demand, but low prices will at the
same time create disposition to hold back supplies
until the result Of this years harvest is ascerained
At present. therefore, there is much uncertainty re-
speeding the degree Of activity that will prevail in
the next month or two. The prospect Of lower
prices CT produce is great, and the amount of in
debtedness TO New York from the interior is very
great, SO that these circumstances combined will
ensure considerable supplies, notwithstanding de-
cining prices The supplies by railroad have al
ready greatly increased The scarcity Of money
in actual circulation, in face Of the large amount
beaped up in ideness at the great centres Of eircu
lation will gradually abate by compelling active
movement, in produce, whieR alone relieve it.
There is at present no export demand for cereals
prices are not yet low enough. The only active
shipping demand is for our great staple cotton for
which the returning prosperity in Europe, the low
prices Of food, and the low rates for the use Of
money, ensure q steady augmentation Of demand.
The cotton spinneFs Of Europe are not alone in
increasing their demand; our own manufacturers
have, of late, been increasing theirs-the cotton
mills beginning again to work longer time. The
two great constituents Of prOsperity-cheap food
and abundance Of money capital--nOW CO exist and
must gradually bring it about, 1t is only question
Of time. The necessity of lquidating debts carry
ing interest, must force produce forward TO great
extent Those faTmers or dealera in produce Who
are out of debt are the only parties that will be
likely TO keep back their produce for better prices
another year. It is fact that good seasons are
generally as successive, as bad ones both in Europe
and America The probabilities are that this years
harvest viii be favorable to heavy crops Every year
in this country, witnesses increase of land under
culture. Besides, the growing wheat in the State Of
Illinois, along the Illinois Central Railroad is repre-
all over the West, has commenced full month ear.
e= than usual. From various paris of Ohio and of
Tennessee, We have equally promising accounts as
from Illinois Wisconsin also bids fair A large
portion Of the old crop of wheat is stated to be still
in the hands Of farmers in all these States
The staple of the Southern States is more likely
to rise in value than to fall This years receipts
are not likely to exceed 3,0000 600 bales which will
ell be wanted and leave no surplus for the next
year. The exports, however, are 10000 bales
less than last year. up to this period but they are
on the increase, as well as our home consumption
Much has been said and written about foreign
demand for our American securities, but this has
failed to come. European freights are yet dull.
We are now in about the same position as in 1882
when heavy receipts Of gold from California first
began to pour in upon US The heavy sccumula-
ton Of gold and the continuance Of regular new
supplies will, in no long time, give a similar i'm
petus to business, which was done in 1852 by the
then sudden additions Of gold. The far West has
yet to be. broken up its uueultvated lands titled
and brought by railroad within the reach Of mar
kets. This will be the work Of the next few years
We better able than we we're to do this with our
onw capital aud shall, therefore, seek less from
abroad than we have done. Our debt TO Europe has
been much reduced, and there is no trouble ahead
on that account.
The prospects of the labOrer are improving and
will improve while food is low in price, and the en-
ploymen: Of capital increases. The movement of
the crops is the one thing needful The difference
in the value to the country between an abundant
and scsnty harvest is not to be measured by its
money value. A moderate scarcity might pos
siOly produce more money even in the aggregate
than abundance, but the masses would not be so
well fed It has been computed that in this city
full One-thrd Of the population only earn two shil-
liugs per day per head, and one third more only
four shillings. To two thirds Of the population
therefore low prices Of food are wealth. and high
prices starvation In 1862 with the increased pro-
duoe Of gold the rate of discount in London fell to
per cent. Il is now q per cent. but in 1854 it
rose to per cent and before two years more pass
away we shall in all probability witness a similar
of trade to what then saw, till last an
othsT crash may come, though hardly so severe as
that of 1857 or that of 1854 u S. Economist.