The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1870-01-18
FINANCE AND TRADE.

The new year opens with quite as
hopeful feeling as could be expected,
all things considered Trade continues
dull in all departm ents, but this apathy,
it must he remembered is not an ex
ceptional condition of the markets sbe
tween seasons It is, perhaps, a trifie
duller than the average of late years;
but, as is we'll known, business during
the war and Immediately succeeding,
was more than usually active, and it is.
therefore, scarcely just to compare the
present state of trade with an era unpre-
cedeDted in the history of the country
an era which enhanced values and
gave to commerce and industry an I'm
wonted stimulus. Many business men
talk of the present state of trade as the
dullest ever known; bnt as extraya-
gance in conversation is one of the
American peculiaritics it is just posi-
BILE that we have really had, in years
gone by, quite as dull times as we are
now experiencing. A careful COMPARE,
son Of sales books with those Of ante
war times, would probably reveal the
truth of this remark, although it cannot
be doubted that, under our present high
price system, the profits of business are
very much less now than they were
cles is little more philosophy, and a
little more calm consid Iteration of the
situation. For a number of years, up to
1867-68, business was kept at high
pressure; but affairs are now in a tran
sition state, and the wheels of com
merce have temporarily slackened, pre-
psratory 10 another start. A grand f.
nancial crash has been confidently pre-
dicted for the last four or five years
business men and financial writer's of
ability being among those who have ia
ken stock in such possibility. Thus
far, however, they have proved false
prophets, and to-day we bell eve the
mercantile interests of the country are
in sounder condition shan before the
war, since the vicious credit system of
that time has given place to system of
cash and short credits. The civil war
in all probability carried US over pc
Rod when, in the ordinary elimination
of speculative schemes, there would have
been break down among that numer-
Gus class to be found in all active com
munities, which is prone to make haste
to obtain wealth without capital to bear
those reverses which invariably follow
periods Of great commercial animation,
were it not that an eminently conserva-
tive mercantile policy has been grad
ually inaugurated. 1t is too late now to
mourn over the mistakes made by our
finarciers during the dark days of tho
Republic, which led to an undue ir-
crease of the value of gold measured by
currency. 1t is satisfaction to know
that the financial condition of the coun-
try is really better than could have been
expected, all things considered In
deed, the political economists of the
Old World are astonished at the vast
resources and elasticity of the country,
as shown by the steady reduction of the
debt; but as we fought great battles
contrary to the established rules of war,
so have we sustained the public credit,
and added millions to the productive
wealth of the country by adopting the
American system of doing things, which
simply means faith in our own ability to
to manage our own affairs, and deter
mined will to back up our spirit Of pro
gross,