Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-02-10
A CHEERFUL VIEW OF THE AP-
Preaching BUSINESS SEASON.


The coming business season promises-ac-
cording to present appearances--to be one of
the most active that has been known for long
time. With the prophecies Of panics and
financial ruin at the close of the war failing,
the anticipated crisis seems pretty well tided
over, as things are settling to their proper
bearings with the thorough establishment of
peace. And although the value of gold holds
its own very steadily-the fluctuations having
been but trifing for many months now-and
although we are still quite distance from the
specie standard with our paper yet the I'M
deniable ability and integrity with which the
national finances are managed, has the effect
OF inspiring men who in the past have been
dlstrustful, with confidence; until at last, for
all purposes of business, the commercial
world moves onward with good faith in the
future presented of trade and finance
And that New York capitalists have faith
in the prospects presented, we have shown in
recent issue, where rents and the prices for
real estate generally have recently exhibited
such an unprecedented rise. And as the
great financial centre of the western world, it
would seem natural that the confidence mani
tested there, must have the effect of inspiring
confidence elsewhere, and generally. When
besides, measurably, we learn that Boston,
Philadelphia, and other Of the principal cities
realize the same condition of things; that with
overcrowded populations prices of real estate
increase, it appears like nothing merely local
and temporary, but as something which is at
last taking its turn along with the thousand
other things which have in the past four or five
years risen to extraordinary prices, and which
the wisest amongst our political economists
and financial oracles doubt the possibility of
ever again returning to the old standards
known before the war.
That the country is carrying its war debt
with demonstrated power which must as
tonish the nations of Europe, is plain enough
Prophesying bankruptcy and overwhelming
ruin to us before we were fairly enlisted in
the great and long continued struggle, we
must be still a marvel and puzzle to them,
whilst certainlywe have been a wonder to our
selves. 1t must be confessed that for q trial
so tremendous, the native confidence. the
national character for ''pluck," a quality so
much admired by Englishmen, has had much
to do; and it seems but natural that a people
who have through a four years war with all
its depressing inhuences--so far as business
transactions were in the case-borne them
selves so bravely, are not likely to succumb
under load which they may bear uninter-
ruptedly with peace to favor them.
Again: with the General Government I'M
doubtedly solvent, and with a return to specie
payments not an immediate and absolute ne
cessity, men cannot easily be made to fear any
sudden crash OF the business community, such
as Of old have startled the country, topping
over those who appeared the strongest-banks
and lndlviduals-into financial ruin. We may
talk careleSsly of the initiation of the currency,
and the Secretary of the Treasury may inau-
gurate measures to curtail the volume Of it
afoat yet as all have expected this with the
close of the war, it is received but as a matter
of course, and thus creates no uneasiness of a
special kind in the minds of any.
And so it is in view of all this, that Govern
ment and people, adapting themselves to the
situation, move onward smoothly; the National
Banks having also much to do in keeping mat
tiers in equilibrium, in their power to equaize
exchanges. Were the people at present com
pelled-as under the old estate Bank SYSTEM
to ignore this or that issue every time they
crossed State line, that would have vast
deal of influence in creating distrust here and
there in preventing matters moving forward
with the smoothness they do at present With
tlp credit no ,,+
QUESTION however, to establish the character
OF these issues, there seems no power to bring
them INTO disrepute except by successfully at
lacking the character of the Government it.
sell, for solvency: and although angry polit
clans and demagogues may talk, the strength
of the Government as shown by its bonds, is
the rock, at last, against which all clamor
spends its force in vain.
In view Of all this, we see none but good
prospect before the people of the United
States, supposing that the spirit of enterprise
and industry has full scope, and exhibits good
results throughout the West and South the
coming season. The product most needed to
adjust balances, with Europe especially, is,
OF course, cotton; and the prospect in regard
couraging of late. Accounts from the South
go to show, that the present high prices are
greatly stimulating the desire to produce it:
and although the disorganized condition, forthe
present, OF black labor, may cut short endeav-
ors IN that direction, yet the white population
will force every thing into service, in ODE
dience to the dire necessities that press upon
1t, so that the chances are, as we have said,
good for a passably abundant crop. And
with this to send forward--as before men
honed-we see no reason to fear but that the
country can meet its engagements with Eu-
rope, and the people theirs at home
Then, we say, in concluson-let none
despond. So far, at least, the prophecies of
evil and terrible suffering in the South can
hardly be said to be realized; and the Spring
not four weeks off, the hope may well be
expressed that the worst is over. With the
Government standing by, through the Freed
mems Bureau, to issue rations where most
pressingly needed, it has done much to ward
off starvation and suffering already; and
with the troubles of the present season sur
mounted, we have little fear but that the
South will have plain sailing in the future
Trusting, then, to good Providence, and in
a promising future, let US go forward in a
cheerful endeavor to reorganlze every shat
tered interest.
We have received from the compiler, J.
Dlsturnen, copy of a United States Register,
or Blue Book for 1866, published by the
American Naus Co,,,o, 7.