The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1866-12-19
Declining Markets and Improbable
Nmm Ru@fuQsS 2a&

Declining Markets and Improbable
so Business. Is OF
The whole business community vot
our country has been waiting, Micaw.
ber-like, for months past, for some
thing to turn up Men of sagacity
and men of experience have look ed
in all directions, aud looked in vain
to discover some token of the coming
better time, when they should have
something more cheering to do than
patiently, idly to aoait, A,fH
Men of capital have anxiously
sought for opportunities to invest
their nom productive money and per
haps the only Investment which has
paid them any profit during the
past year was, when they bought Gov
eminent securities just before the
assessor made his. accustomed visit.
The duilness and stagnation of bust
ness has been so protracted that
many have become dispintea, and
some, finding that experience is but a
stumbling guide in these times with
out precedent-that energy and en-
terprise and diligence only swell the
amount of loss, while judgment, sa-
gaclty and perseverance profit nothing
are seriously, considering whether
1t is not the part of wisdom to with
draw Eeutirelg from active business,
and, abandoning all hope of aug
menting their gain, by frugality and
caution endeavor to husband what
they have already acquired. OFT
The year has certainly been a cheer
10 oil Il,
munity. The farmer was compelled
to accept such prices for)his cropsT as
scarcely remunerated the expense
of producing them. He made no
money.
The merchant glances gloomily over
the balance sheet of his years opera
tions, and deems himself fortunate if.
while his capital has not increased, it
has not. been diminished. Many have.
labored and toiled- for worse than.
naught. s4n@ many departments off
business, theseswhe have been xmsstl
active'and Industrious have been most
unfortunate. The most favored have
been those who were earliest intimi
dated and contracted their business
as prices declinedas And all have AT
length arrived at the sage conclusion
that it is not possible to conduct a
prohtabse business Withsa constantlys
declining market.
That the past has not been year of
ruln0us panic and financial disaster.
we think is chiefly due to the fact that
money has been abundant--that Com
gress, wisely forestalled any. large or
sudden contraction Of the currency.
Il Is aelnotable fact that aatsidea Of
Wall Street there have. been very few
speculative adventures, For months
Our New" York bankers complained !
mat thelr money was rusting in their
vaultsl and though offered at the low
est rates of interest, there were few
spectators SO reckless as to accept
the Inducements, aud this few soon re- |
tired not a little wiser. 4
1t has been utterly iFnpossible to
force ttadeAto build up or manufac-
ture business. Those who have tried
it, have been willing soon to abandon
the attempt, and to Weld to what
seemed the inevitable course of affairs
There has been, too, an almost uni,
versal and .deep-seated conviction in
INC puuIIC Hituui Stedully gaming
strength and becoming more con-
firmed, that the general level of
prices was too high, and must be re-
duced, and that there could be no safe
and healthy trade until values an
preached nearer to a specie standard
not that public opinion favored the
resumption of specie payments, or
that the seommons sense. Of the nation
desired or anticipated it at an early
day. BY no means. But all have felt
that as, the cause which produced the
enormous prices paid during the war
for accommodates, has ceased to act,
Its effect should also cease. The pro-
ductlge energy of the nation is turned
again into its accustomed aemploy4I
ments. Industry is recovering from
Its arrangement, and the ample
harvest OF the year, the products of
the field and of the mine, and the
fabric of the loom, all .egince the dill
genceswith which it has been piled,
and tbs, reward with which it has been
cr0WnedbOoa 1uo lnaTfaA IN .4sDH IS
The abundance of all our staple
crops, the large surplus Eof grain and}I
provisions we have for export, and
the enormous import of foreign fab
RIGS filing our warehouses, show |
clearly that short or deficient. supply
can not be urged as a reason FOR high |
prices. In Accordance With the nrie e'., 4 4
ring infereneesffom these facts, have
been all the depressing tendencies Of
the wear - CINCINNATI Io1r007 of /