Abbeville press. [volume] (Abbeville, S.C.) 1860-1869, 1869-06-18
Business Prospects in England

writing under darc OF the 22d uIt,
says:
Commercially, business has, to some
extent, been intcricrcd with by the
Wh;isuntiic holidays, and yet lhcrc
has i'll some respects been Z sli yht i'm
provcmcnt, and rather more disposi-
ton shown 10 enter into fresh trans
actions. There is however, no dimi-
nation Of caution on The part OF buy
crs and sellers, and the increase in the
volume OF business cannot be ccnsid-
cred sufficiently great 10 call for cs-
pccial remark; but in times OF deprcs-
sion any sign Of renewed animation,
however slight, is necessarily regard
cd as feature, aud attracts moro at
tcniion than in periods of compara-
tive prosperity. We have, however,
been 50 accustomed 10 these periodic.
returns Of activity, that the public
have Of late ceased to regard them
a, an Indication of The approach of
more decided revival of commercial
prosperity. The Improvement which
has taken place this week, although
slight, is chiefly confined 10 the tradc
Of Manchester, that is to say, the
trade for cotton yarn and cotton goods.
The former has been chiefly enquired
for on the part Of continental buyers,
but although the efforts have been
moro numerous, it cannot bc corsid-
cred that the demand is good. Tho
slight increase with regard TO the
latter is due 10 an improvement in the
demand for India and Chiua, but os
he offers have been made ct the low
est prices OF last week, they have not
led to much business. II is probable,
indeed, that buyers arc unwilling to
effect larger purchases except on
more favorable terms, while, GU the
other hand, sellers are not disposed,
and, perhaps arc not iu position to
accept lower prices either for yarns
or goods. Some concession in prices
might possibly lead TO considerable
business; but thore is not much hope
of such . miovemcnt until the raw
material can be obta;Aod at a lowe2
value. Speaking CT trade III general
and not Of Manchester in particu'ar,
it may be fairly urged that tue unset
tied condition Of the money market
is antayonistic 10 Il revival! or uctive
business, and that until there is moro
appearance Of financial safety, there
will be no more hope Of commercial
activity. Tie heavy. engagements
entered into by many Of the fnaucial
houses Of Europe with foreign Gov
ernmcnls, have made ir impossible
for even tho keenost calculators to
come to any conclusion with regard
10 the future Of the money market,
and but few seem inclined to venture
an opinion. OF this, however, we
may be certain, viz, that there is
much more prospect of. money beconn-
ing dearer than cheaper, for the re-
cent foreign loans alone are calculated
TO produce: that effect. But in addi-
ton 10 that, The commercial demand
for money always increases in the
autumn 1t happened SO last year,
in spite Of the slackness Of trade, and
as evidence is not wanting Of On in
crease in home transactions, Che effect
may be moro perccptible in. October
next, than. it was last year. No. doubt
caution, if even to o greater; degree
than hithsrto,. is the correct policy
4 for merchants to pursue. There is
however, no necessity to o.warn the
mercantile classes II. adopt q cautious
policy, for. suehsao course is enforced
upon them: bya!the.s eircumspsotion
shown, by oths4 banks & end discount
houses in taking SECOND class bills.
4 This protective policy on the: part OF
] the banks, and. discount houses will,
however, {be beneficial ip the end, i'm
aspaueh as if will aerys. r. {to keep ,,bpsi btgasii
ness ness il check Of tims When hsal.i any p pa n
i terial sstsnsiYosn III. Ply 9ffS y might. end pp
q doabteaIy would, cause IaoneY olg .. 70 alhtse; be;
A come COM I dear I,do ep8t wish to convey
! tie SR iaprsssion that The fhanelala siit;
It uatior Is SO unset tisfactory as te, Gianss ans!
a approximations with regard to tho fu.
i tnna hat il do moan, TO, assert tIatsthe