Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-01-29
Tho Rusines. Situation.

1t is plain to the commonest apprehen-
sion that the business situation of the coun-
try is very far from satisfactory. We are
supported in this statement by the follow
ing from the Ne,C York E0ening Post, one of
the most able OF Republicafiournals in the
country: ..r,-,. ..- .t...,.'..f lHa-Ie
"We seem, from the numerous COM
plants we hear, to be falling upon what are
popularly known as hard tines Busi-
ness in most branches is dull; men WHO
have been dozen or twelve years engaged
in mercantile pursuits tell us they, never
knew such unprosperous times, Sales are
small; stocks of goods are not renewed !;
everybody is either waiting or suffering,
either poor, or prudently expecting to be
so. 1t is true that this is the dull season of
the year, when trade is expected to languish
somewhat; bus there is more than mere
temporary deadness. 1910
" The great crash, which was so long
looked for, may not come, because 1t has
been provided against to a certain extent.
lt is pretty sure that men In general do
not owe much money; credit is not very
free; Indebtedness is not great, or wide
spread the elements of 'graat crash are
not therefore at hand. BIT, it would seem,
that we may have presently general stag
nation of business, a dullness and deadness,
as discouraging and disabling as the great
rpvplsion of lS57-perhaps even more so.-
Wehear daily of trade and industry leaving
us, and seeking refuge with our neigllbors
in the British provinces, or further yet
Our merchants find it impossible to sell
American products at profit abroad; our
workmen, in many branches of industry,
Nuifh nv md
prosperously established in business, are
compelled to abandon that in which they
eXcelled, and to turn their capital and en-
ergy into pursuits less profitable to the
country. Industry and trade are alike
paralyzed." r Et
This, according to the Post, is the busi-
ness situation. .a. tF t.
. The cause of this situation the Post states
as follows: r- ,.r...I 1a... H.H a3Ha
"The cause of all this is we'll known.
Our currency is depreciated; our skilled
labor is fOrcibly turned into unaccustomed
channels by unwise legislation; our manu-
features are burdened with taxes which
make production too costly for us to COM
pete in the worlds markets with other na-
tions; our people are forced by unjust laws
to buy their raw materials and many Of
the necessaries of life in the dearest mar
kets.n ..s. ra.. .tI .asrfI
That is to say, business is in bad situa-
tion, and Congress is responsible for the
predicament; whereupon the PoSt talks to
Congress in this way: ahi .l1 5u'gi adl b
"The Eoeniag Post long ago and often
warned the Republican leaders that il they
mean to rule the country they have need
of the wisest measures and the souhdest
policy on other questions than that of re-
construction. We have received small
thanks hitherto for our warnings, but that
shall not prevent us from repeating them.
Congress, assailed by spectators on all
sides, and for the most part wofully ignor-
ant of sound principles of political econo-
my, has too long submitted to their en-
treaties. The report of Mr.. Wells tells it
to what unsound and unjust legislation has
brought the country. The people as yet
only dimly comprehend the cause of their
sufferings; but the shoe pinches them ter
ribly, and it win not take them very long
any more to discover where and why and
how it pinches. When they do it will per-
haps be too late for the party now in power
10 ASK 70 ue sA ehSlus'e "isA 'io 'ineuy a1'
sItis perhaps in the minds of some Re-
publicans that the best way to keep the
Democrats out of power is to keep epen the
reconstruction question, and frighten the
country periodically about the dangers Of
Southern ascendency. But fearfis nota safe
motor; the insane or pig-headed folly of
the Southern leaders and emisconduct of
President johnson served the Republicans
admirably in the last campaign; there are
signs to show that the Supreme Court de-
cisions are presently to be made the ground
of another grand alarm; but, not to say
that these too-often tortured fears may at
last grow callous, does it not strike sem
sible Republicans that it would be much
wiser for them to appeal to the gratitude of
the country, than to its terrors?
So *sa ytii#9iHi &f #ithV&
"Whyl should not this Congress devote
the remainder of the session to the consid-
Grafton and passage of some sound and et-
fective measures OF relief for the country?
''If the Republican party, with its pres
ent fame and ascendency, has the genius
and statesmanshipiso torearrange. our cur
rency aud simplify and adjust our tax sys-
tem, internal and external, as to make the
nation only very moderately comfortable