The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1867-04-26
PROSPECTS THB COMING SEASON.

4 ~
ton Te!a,ive to our financial prospects tba
is both able and practical. He does no
sympsthise with those croaE ere or timi
ones who are lugubriously predicting
financial calamity. He says there are bu
two sources of commercial co nvnlsion
FIRST, the failure of production, which i
the real. positive income of the country
The actual productive income of tht
country (not estimating middle men o
intermediate profit is quite taOO MousGnC
millions per GnBa'a, probably more. Will
four hundred millions of this out of ex
istence in any one year, and We shall have
an outcry from all the commercial anC
manufacturing people in the country
The second cause of sudden commissions
is the sudden contraction Of credits
Thus, when Mccullough, in 1865, an
nounced the policy of contraction, it was
an announcement that the credits of the
people should be contracted, and that,
too quite suddenly. The attempt to do
this-tbough in q moderate way-pro.
duced a shock which caused an immedi-
ate contraction to a much greater extent
than was imagined. The result was to
check the further progress of the
scheme.
Looking, then, to these causes of COM
mercial disorders, what are the facts?
Out of all the apprehsnded evils only one
1.-THE failure of the wheat crop in the CEN
trail west) has actually occurred, and this
one the coming season will, in all proba
bility, fully repair. He denies that the
cotton crop has failed, and administers a
sharp rebuke to those agitators who claim
that the South is not industrious becaus g
it is not reconstructed. The cotton crop
met with great misfortunes-uuwont
rains, army worms and various disasters.
Yet il is now known that over ts0o mill
ions Of bales of the crop of 1866 will be
brought to market, worth three hundred
millions Of doLL0rs. Corn crops were
largely planted; bat most of that did fail,
causing want in some parts of the South.
We d ont believe, says the writer, that
the South ever did so much in one year as
in 1866.
The loss of wheat, it is claimed, vas
equal IN the States of Ohio, Indiana and
Kentucky, to twenty millions of bushels.
This caused some pinch in the money
market, but IS the corn crop was large,
and hogs marketed were numerous, the
deficiency of the wheat crop was partly
balanced.
There is, he goes on to say, another
thing which may be claimed as loss of
production, in the diminution of the
wooden manufactures, on account of clos
ing the war. But this is probably much
less than is generally supposed, while the
new tariff on wool and Woolens will re-
ViVe the wooden manufacture and greatly
benefit the West. The little State of
Rhode Island consumes thirteen millions
OF pounds of wool in her factories, and
we may be assured that, such is the thrift
and economy of both capital and labor
in New England, that her wooden manu-.
features will &c on and increase. We
conclude. therefore, that the production
of the country is not diminishing, but
the very reverse. It is fast increasing.
Then, as to the currency contraction,
Congress has limited the Secretary with
in narrow bounds, and will not allow him
TO go very fast. The Treasury needs all
the money it can get; and probably there
has not been, in financial point Of view,
so absurd an idea put out, as that the
Treasury shall part with its ready money
illegal tender and at the same time pay
interest on theml For this is exactly what
is done when they are funded in six per
cent. bonds. The last credit of the UnI-
ted States Government withdrawn should
be the legal tender notes. The Secretary
will have quite enough to do to make
both ends meet without indulging in any
extraordinary tinkering with The curren-
cy, and if he had the disposition of the
currency he is prohibited, first, by law,
secondly, by his own necessities. The
year of 1867, then opens With the best
possible commercial prospect. The peo-
pie will have all the money they now have
TO carry on their commercial operations.
The mines will be largely productive
yielding probably more than one hundred
millions of new gold and silver.
The winter past has had all the antecs-
dents of prosperous summer in agri-
cultural production, at least in the central
West. The wheat never looked better.
The fruit buds are mostly Uninjured, and
the amount of frost and water during the
winter was such as to furnish q fair au-
gury of good weather in the planting
season.
Looking then to the strength of Gov
eminent and people; to the abundant sup
ply of currency; to the good condition
Of all industrial pursuits. and TO the fair
indications of all national elements. We
shall anticipate prosperous financial and
commercial year which only great calsm-
tiles or great want of prudence and in
dustry can prevent. We have thirty
seven millions of people, and in 1867
they will be hard at Work-ind ustrially,
commercially. morally and socially
what, but the degree Of Providence can
prevent them from commercial as we'll
as political success?
Such in brief are the views Of this
writer, substsntiated By facts and figures
and demonstrated by the clearest logic
Let every merchant, mechanic, farmer
and everybody slse in Kansas go to work
with the expectation of prosperous sea-
son. There is nohiug IN the condition
Of the country, financially or politically,
to create depression or unusual anxiety
nothing that energy, perseverance, Eorl
and economy will not overcome.
New York has not been very active Of
late in extending her railroad System
She was formerly the 6rst railroad State