The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-04-17

The Business Prospects of the Country.
THERE can be no good gained by deluding
ourselves with the idea that the business OF
the country is in prosperous condition. 1t
would be idle to deny that the usual amount
of trade has decreased. The fact is palpable
to every thinking man, that the trading inte-
rests of our country are in such a condition as
to justify the greatest anxiety and the utmost
caution. We had hoped that the business
depression under which we are suffering did
not extend throughout the entire land, but
from journals in all sections we see proofs
that in many portions of the country the state
of business is far worse than in the City of
Brotherly Love. The fact that there
has been within the past year a general
decline in all classes of mercantile interests,
as we'll as in the various departments of
home industry, is attested by the visible de-
cline in the internal revenue. By means of
this tax we have secured sure barometer,
whereby we can judge of the condition of
business interests in all parts of the country.
Taking the first year as a standard we are
enabled to compare the rise or fall of enterprise
and business success by the returns made in
each succeeding year, and by comparison we
have proof of general prostration. The tone
of all the New York journals indicates the
condition of affairs at the metropolis. An
other excellent index is afforded us Of the state
of trade in the West. We take, for instance,
the statement of the organ Of the Illinois De.
mOcracy, the Chicago Times. In recent
number it SAYS
"Business here continues very much de
pressed, with no immediate prospect of relief
Notwithstanding 1T was hoped that the opening
OF spring would bring the farmers into the city
In large numbers. 1t is now feared, however
that the farming population are contentlng
themselves with their purchases made during
last fall and winter, and are practising economy
to q greater extent than for a number OF year,
back In the meantime the New York, Chi
cagO, and st. Louis runners are securing the
country in every direction offering goods by
sample on long credit, thus forcing sales upon
merchants, and, as consequence, flooding the
country with their wares, at a time when the
demand for them Is more limited than usual. Or
the other hand, the manufacturing interests are
unusually depressed their profits diminished
and the amount of their sales lessened. A
greater number OF persons than usual alsC
are to be found in the streets out OF employ.
ment. In fine, distrust of the future on the
part of ALL from the large capitalist to the small
real estate holder, appears 70 be The main fea
ture of financial and commercial affairs NJ
prudent man appears inclined to enter intC
new engagements. The merchant only buy
turer works his establishment in the most eco
nomical manner. Tue prudent banker con
tracts his loans and discounts"
Lest this picture should be considered a
ovsrdrawn, because of the political sentiment
of the Times, we append an article from tn
principal radical paper of the Northwest, tn
Chicago 7ribuns:-
''The attempt of those who have embarked il
all manner of speculative enterprises to realiz
their Investments and hold the same in cash
but prudent measure TO avert the crushin
effects of the storm, should one come. There
an unhealthy condition OF Things proceedin
from all this. The annual strife between lane
lords and tenants has an extraordinary inter
sity in all parts OF the country this seasoI
Capital trembles as itlOoks int the future. LaoC
Is demanding an increase OF wage. IN IN tne Mi ia
was there a time when the man OF large mean
should so hesitate and weigh well the props
bil1ties OF the future before elnbarklng In ne
enterprises, and never was there time VINE
those VINO live upon their earnings, be Jhe
greaC or small, should so retrench their expel
ditures In every possible way, to be able bett,
to meet the impending difficulty. 1t may
that the country will escape season OF Ana
escape it. Those who are hesitating TO enibal
with their capital in real estate and improv
ments may well consider whether they q
likely to obtain any compensating return upt
that investment during a season OF financi
disaster, and a consequent return to Rctu
values"
We cannot doubt the truthfulness of Il
account. One comes to us from free-trac
the other from protective paper. One is
conservative, the other radical; one is for &C
traction, the other inClines towards iniatic
In view of this state of the case in the gr'
workshops of our capitalists, it is well
them to look well ahead into the future, a
embark only ia such Investments as will