The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1867-02-08
WHOLE No. 474.
BUSINESS PROSPECTS FOR 1857.


II The New York Sun, in speaking Of tn
fears that have recently been expires ssd o
a financial panic during The present year
by the various journals of lbe country
says:
five get through the present rear with
out suffering financial revuleiou, Their,
will be great many false prophets In thi,
country. The wiseaeres have been peak
/ ing into futurity, and as the result of theil
| observations, they tell US a general
smash up oil business is soon to come
Il may be that their predictions viii prove
tree. We have not had a general pros
tration of business in the United States
since 1887, and it may be that the presen nj
year IS destined TO witness another col
lapse. But as far as our observation
goes, we can see nothing 10 warrant these
gloomy aPprehensions, unless it be the
coincidence that every year ending with a
seven has for some time past brought a
financial paoic with it.
lie 1877, 1887. 1847 and 1857, general
Prostration of trade occurred. Il Is this
coincidence which now forms the basis of
all the prophecies that are made concern
ing similar state Of business during the
present year Panics of this kind, how
ever. are not The result of chance, nor of
fatality. They arise from natural causes
aud are tie result of natural laws of pro
duction and trade. There are but two
causes thatcan produce financial pauic
the first being a failure of production,
and the second financial mismau agement.
A general failure Of the crops during the
present year would be very likely to re-
suit in financial revolution, for the de-
mand upon the sources of the country
is now so heavy that trade could hardly
Withstand heavy strain upon production.
But there is no present likelihood Of any
such danger-no more at least chan the re
was at this time last year. or the year
before.
The chances of disaster from bal fuan
cial management are perhaps greater. A
morbid condition of speculation or an I'M
skillfull administration of the national
finances would have dangerous tendency
With regard to speculation however, there
is less danger now than there has been
at any lime within the last FIVE years.
While-tbe war was in progress, an for
some time after its conclusion, the spec
ulauye fever ran high; but now the pulse
is slow and regular. Commodities are
gradually settling down in value-not
fast enough to endanger the safety of deal
ers, and yet fast enough to give consum-
ers substantial benefits. So far as the
financial operations of the Government
are concerned there is nothing specially TO
fear.
Il is difficult to tell what Congress will
do with the finances, but Secretary Nc
Culloch has done so well thus far that
there will be 40 causes for apprehension
II he be allowed to continue his present.
policy, The Government bonds are we'll
up in the quota ions, the currency is ap
preaching the gold standard, interest rates
are 10 healthy condition, money IS easy,
and In short every aspect. of the financial
situation has an encouraging look Sill,
IT Is best to be on the safe side by keeping
a sharp look out for financial breakers
It is always better to be too cautious
than 10 be not cautious enough. But i'll
we ell labor faithfully TO increase our
means, and economize closely in our ex-
pendtures, We shall sail through 1867
without encouptering a financial ripple.
and place the pro hets of evil at greater
discount than the rebel currency ever
reached