The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1869-12-28
coNNRFFRcIaL DEPRESSION.

From all parts Of the country we are receiy-
ing reports Of commercial depression. amount
ing almost 70 paralysis. We have arrived at
tho end Of business season which has not
fulfilled the sxpsctations INDUCED at its COM
msnsment. For some time past it has been
alm6st impossible 70 sill goods in any quantity
beyond the present exigencies of consumers.
except at heavy sacrifice. This geneial re
luctance on the part Of mercantile distributors
to create fresh pecuniary obligations, results
from wide spread conviction that prices are
destined to shrink until solid foundation is
reached. On The other hand. manufacturers
agents, importers and others. who are carry
ing large stocks Of goods at heavy expense,
are anxious to realize, in the fear Of heavy
decline, and yst they are reluctant. in most ca
ses, to grant the concessions necessary to
tempt buyers.
We copy and cordially endorse the following
well considsred ssmarks on the commercial sit
uation. from one Of the ablest Of our exchan-
ees, the Boston DAILY ApvERTIsEa:-
The present dulness and depression in busi-
Less. which il genoSal throughout the country,
marks stage Of progress on the uphill road
upon which the country has now fairly enter.
ed, with view Of reaching sound basis OF
commercial confidence. just such state Of
affairs Is now exists has been predicted and
expected g the preliminary condition Of re-
turn to specie payments. and the fact that the
country is now cropping its way cautiously in
that direction forms rather subject for con-
graduation thu y regret difficult and tperplex-
ing though the way be. That shrinksge Of
prices, sooner o. later, could not be avoided.
has been universally recognized and this fact
should hsve, ard dout tless has to considera-
BILE extent, operated to inspire caution in con-
tracing dsbts heretofore, while At present it
has q signiasass which cannot pass unheed-
ed. The longer business men have recognized
the uIcsstainsy Of the times, and have kept
fully in view the necessity Of being prepared
for whatever fluctuations might occur, the bet.
ter they are prepared Tor the present state Of
affairs; bat it 10 never too late to mend, and
those who have hitherto delayed the work Of
preparation eth have time to enter upon it.
None can fail to see that there is prevalent
feeling that prices must 60 down, ard this
feeling operates n one of the strongest influ-
eroes in checking enterprise and retarding
business movements. Nobody Is inclined to
buy except for consumption, while dealers. al
though anxious to sell, are very reluctant to
submit to Q decline, and these two causes are
sufficient to account for the present sluggish
movement OF trade. stocks however. have TO
lie carried, and this requires money, which
lenders are never anxious to advance on . iall.
ing market. But while these circumstances
impose upon the business of the country
hsrdships and snnoyances from which BUSH
ness men naturally shrink, yet encourage
ment may be found in the fact that, At tho
worst this condition Of affairs is likely to b
but temporary. The quicker the crisis come:
the sooner will the business Of the country
settle down upon firm basis. Relieved Of thu
unhealthy influence Of capricious currency
the country, so rich in all the elements
substantial prosperity, will rapidly recove
from the stsgnation or perversion of its ma
terial interests, and enter upon q career 0
success hitherto unparalleled in its history
The evils here indicated need not be of lonl
duration, If emily our national legislators Cal
be brought to realizing sense Of duty TO thei
constituents. the people.