The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1870-02-15

e
We cannot refrain from recording
even now our firm conviction that the
coming year will be the busiest and most
prosperous ever known to the American
people; and. instead Of being at ali dis
couragsd BY very general expression
Of the opposite view which comes to us
from many sources, we feel that this is
one Of the reasons why we should take
the ground which we now take, and
which, We believe, there will he no DIFF
flcnlty in establishing. s..
From national point OF view. there
seems 70 be ne chance to doubt this
issue. We are to day further from the
war, and we feel less of its expenditures
and drawbacks, than we could have ex-
pected in twenty years from the date Of
the amnesty. The reaction which It
Was only natural to anticipate from false
and inflated prosperity which was SO
delusive during the actual term OF the
civil war. has not been anything like SO
severe a. We believed Instead of the
guerilla warfare which it was predicted
would infest the ssonthern states for
many years, we find there peace and
order. Instead Of the continued unpro-
ductiveness Of southern territory whick
was dreaded, we find that the south has
just had the largest cotton crop, in pro-
portion to the ground cultivated, that
it ever had; and in addition thereto
there are splendid crops Of grain which
the south never before though:lof. New
enterprise has been infused into the
country and people; they are building
I nd
communication and trade. the system of
great farms is giving way to co-opera-
ton in crops or the parcelling OF the
land which cannot but lead to greater
energy and more plentiful results; and,
to day, the scene of the war itself is
being transformed in to a rich harvest
field that turns its fruitfulness to the
account OF national prosperity.
From prolitical point of view, the
prospect is not any the less brilliant.
Not more than two years ago, the very
thought Of our national debt bore down
upon ~ with weight which we found
it impossible to throw off. Now, it has
been practically demonstrated that we
may, if SO disposed, pay off the national
Indebtedness in twenty years, and we be-
gin to think that national debt is not
80 great q national evil, after all. But
better than this is the fact that the head
| way made upon the country's indebted.
ness has relieved us of the necessity of
| exorb:tant taxation. The demonstra-
| tion that the debt can be SO speedily
and easily discharged has increased the
credit Of the nation in such q way that
the obligation can be readily funded at
q much lower rate of interest: and this
| knowledge has led to popular movement
in favor Of the reduction Of taxation
which viii not be resisted, and which
will take heavy load from the CONNER
cial and manufacturing interest of the
country. Confident that our resources
will pay the debt soon enough without
any oppressive restriction of individual
progress and proaperitJ, VIC snaiI ind
the production, the manufacture and
| the interchange Of commodities easier,
more plentiful and@buoyant than ever
before. aas Il sssaaasss ~ tag ass
From business point Of view, the
outlook is quite as encouraging. This
can be partially comprehended from a
comparative statement OF the business
disasters Of the last few years. The
total number of business failure in the
United States in 1869 was 2, 799, against
2,6O8 in 1868, and the aggregate liabil-
tiles were 875, ,054, 900, against 86S, ,774.-
900 the previous year. In 1867 there
were 2,78O failures, with S96 $3.50, 900
liabilities, the largest number since
1864, during which year there were g.
993, with liabilities amounting to S297,-
900. which sum was exceeded by
1851 with 1882 failures, and liabilities
aggregating 1921, $50 900 It will thus
be seen that, in proportion to the
amount Of business transacted, there
were less failures in the aggregate du-
ring the year 1869 than any other year
And to properly appreciate the signifi
canoe Of this fact, it must also be re
membered that there was never an epoch
In our history when business men and
interests were SO hampered by taxation
and restriction, fears and lcthargy, as
during the year just passed. For the
year 1870, then, when we may confiden-
tly expect the removal Of many Of these
pernici0us influences, there can scarce
| ly be any other result than that of deci-
ded Improvement. The moveme ent, too,
of the great grain crop which 1869
yielded us will be one of the prime
levers Of our business success during
the year. The time of crisis is past
now. The hardest and most trying por-
ton OF the winter on rich and poor. en-
ployers and employed, is over without
any serious effects, and the spring trade
| must open with a push and prosperity
that will continue throughout the year
Hiram r. Revel.