New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-01-07
The leading article in Halletts Circular is COM


The year that jus, closed ha. probably been the
remakabe is Commercial results II any 10 national
calendar IL has been les ~ whch mas 'ssd ev wa o
war called Into The field nearly 600 00l who
Is,sy scleI up the trade Of nearly halt Of area
Of tie country end nearly onohird II it, popueon-s
POI alton which produced the staples which coroted tic
greater portion 81 exports and which REGARDED in
times nat absolutely ---euti-l TO commercial iude
peudeLce Such altered condition In the Of our
Iat iunce coming % u ga "l lut any preparation or
warning could no; be expected 20 take place without
csrs,s ti produced c0nrgueucrs which couI hsrdy
TAIL rc,ct and affect most deeply interest and
The result present condition Of commercial sfirs is
r much avoysb.e than the most sGngunc yeutued to
souudu.'san abundance Of all the ntcessso- Of life
and actse Employment for our popnlnton-wss never
better nf lei thsn during the 49, year part Of this pros,
te y boz artificial growing Of the pcndures
or .nc vi there be- doubt that with con,inu.
have been greater fnn II has been and thu. the in
creased stimulus parted to by tho has, bv mcin'
several contributed produce the oil
thin that exist, Tho indus Fee
these parts have been most bountiiu for two years
past the time that thosc IN Europe have been very
the deficit abroad. Our vast system 81" public works h-d
been fully completed previous TO Ito breaking out OF the re-
beiou giving ica value to tho products Of tho into
or remote msThes The enlargement OF the Erie
Canal completed in no was mos, opponane event rs
without Is greatly iAcre71ed capacity would have been i'm
possible 10 convey td~aer onehai Of tho produce that
re lched i, during the yesr
the freight received through the canal wB also almost tho
only tasis upon which the nation had 10 ey in tho payment
of inn aud make good is oTe balances after cot
had sppeafed from exports But the
exports Of grain IN 1861 aud l2. commercial reyulsiou
would have been inevitable prostng pefhaps the credit
the well a. that of the commercial community
Instead such revision the balance of trade LARGELY
gold tho amount exported we'tho product of our
year could have been less than 800 O0O0oo
We have exported gold largely, in 1892 but not than
the yield Of mines leaving the country at least SOO
600 coo moe than when tls war commenced
hay. O.
the upon which commercial prosperity rrst and
a. necessary ,pnuafion Of the enormous that has
place ~ every Kind of niroHd property well in
very long lisi Of public securities There in the
loyal States - 40 mile. OF railroad costing 800 4i229
he market value OF this vast investment IN 1864
cessyey deprsased owing mainly to our political troubles.
which threatened Tor me to leave nt without Govern
social order, Confidence gradually revived aud the
immense Increase IN the uac OF our roads turned attention
Il was not however ill after tn. of 1862
ha any eksordlnaiy advance took On the L day
of Jannnry Of that year New Yok Central sold a. g0 Erie
Common At % Preferred At 81 Hudson River 80 Harlem
l2i Preferred al 81 Michigan Central nj 20
Michi,an Southern Common at 70; Preferred a, 9 Gaena
aud Chicago tj eyeaud aud Toledo is, Chicago end
Tne1o wee among The most we.nown ind best sustained
tocls on he list The advance in several OF these have
In o,he.. not named has been vastly GREATER so that in
whole list oil shares dealt ia ut the New Stock
change ayfuCc Ia their market value In.
derrby eXcee. 100 - cent In othrr words ba, doubled
advance due 10 any rond,fs extent to intrinsic
c.uucr tue pces "a. which they ceiling cannot be
recorded beyond their values. Their traffic during the
year must have increased fully quarter while tho
ditiou Of ,he roads has been greatly improved
The market value of bond. Ia many instances shown
great advance shares tina, may safely estimate
tie increased value Of the total Investment IA railways In the
has been vety great advance ia the State and Municipal
Sc ures Of all KINDS Illinois ia sold year ut 10; Cali
fos Is at 81 Ohio rs 30 All this advance ia Railway
well Municipal Securities ha. been due to steadily 10.
creating confidence. aud to spd appreciation In tito real
value Of The securities II shows healthy condition
only Ia the material welfare but in the heart OF the
nation whose paaon. could not be 20 regular and ,rons
there WERE nal