Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1870-01-12
FUTURE BUSINESS PROSPECTS.

FUTURE BUSINESS PROSPECTS,.
There is a prevalent impression that the
prospect of business the coming season is
not promising. The decline of gold aud
prices within few weeks has carried down
public confidence also Not that the ma
iority of the people object to see the fall in
gold and merchandise. but because they
reason that business will move slowly and
prudently while the scale OF prices is tend
ing downward. This season of the year is
period when business is gloomy rs well
as the weather The accounts of the last
year are not entirely settled, and the plans
for the new are scarcely formed. 1t is a
time when business stands still almost As
Nature does, waiting for the sunshine of
Spring to create Il thaw. In spite, how
ever, of this general belief that times will
be dull this year, there are sagacious OBJ
servers who think quite the opposite. The
London Times having predicted that the
current year will be a prosperous one to
the finances and commerce OF this country,
the Philadelphia Gazette endorses the pre-
diction and gives its reasons in the follow
ing article, which we commend to the
notice of our readers:
''But with reference to the main aver
ment-that the year upon which we have
entered is to he markedly prosperous one
in tn. country-while there are some pos
sibilities of contradiction, there are so
many Just expectations OF proof that we
may We'll accept the generalization as sub
stantiating prevalent hope. Whatever
OF political agitation remains Is but the
subsidcnce OF the gale, and may be count
ed out of the computation, at least rs an
essential factor SO far as it enters at all,
there are reasons to believe that it will aid.
And heretofore it has been made a hindr
ance by apostacy, and agitations sprung
from that.
Then the popular feeling is directed to-
ward material enterprises. In every sec
ton the breaking up of new lands, the
construction OF new railways, the increase
of commercial facilities, the enlargement
of manufacturing or mining interests, and
the creation OF minor subsidiary enter
prises, are talked of and in many instances
already begun. The apprehension that
existed i'll some vague torn III many minds,
that a great and indefinable financial
trouble must supervene before prosperity
could be reached, has faded away with all
as facts have steadily demonstrated the
solvency of the nation and its debt has di-
minished. The prevalent belief is that
prosperity will continue and grow until
the reality Us well as the shadow of danger
is passed.
1t is seen that much of enduring worth
and rich recompense has been attained;
and this victory, won so soon after the
most serious danger, and in the teeth of
almost universal prostration, has done so
much already that none can wonder if il
limitable further achievements are assign
ed to the same power. We have produced
gigantic crops again as Of Id; and even
cotton, that was most sensibly affected by
the war, has its rebound. The expansion
OF RAILWAYS is little less than miracle
The arrival OF immigrants is increasing :;
and Herewith the settlement of new lands
and greater industrial force at somewhat
lower rates, wherever crude labor can be
utilized The instances serve for broad
field, since it is manifest on every side that
work is the rule Of the day.
This work, too, is being performed un-
der more advantageous conditions to all
concerned. The reduction in costs in the
last five years is greater than is generally
recognized. Take some of the staples in
most general need, for example. Since
1860 flour has fallen 40 per cent. potatoes
have declined IS, coffee 80, butter 80, tea
y, beans %, calico 30, blankets and mus
lin the same, boots and shoes so to 40,
bacon 10, &c. averaging prices. Taking
Il list OF the most imperative necessaries,
it is safe to say that the decline has been
fully thirty per cent. Labor has not fallen
in proportion. Bricklayers are paid rs
much as ever, and cataloguing the trades
OF plastcrers, masons, blacksmiths, car
pentcrs, painters and machinists, the re-
duction of wages has never exceeded TWEEN
ty per cent. That is, they can live better
now Oh their reduced wages than they
could i've Years ago on higher. The mat
ter of rents varies according to locality.
Bi;: there is no reason to presume that, as
a whole, they have not softened in some
proportion to the other costs of living.
These facts show that there is solid
basis on which expectation rests. There
has been the improvement in both direc-
tions that Is necessary to secure general
activity and bring again the former bound
ing pulse OF the country in every depart
ment Of living. If we concede that this
result has been attained at some individu-
al loss, it is yet to be recognized that in
such cases the individual is nothing. The
great majority have been benefited, and
thousands are passing through the change
with those mimpaired resources that will
enable them to lay out and initiate move
ments whereby all will gain. The char
acter of the coming movement seems to
be singuary exempt from danger. Sound
enterprises replace speculation, and are
so numerous and profitable as to monopo-
lie the field. OF course tares grow with
wheat, and there is and will be an infusion
of what is unsound with the good, gold
rings in small things as well us great But
with the situation as it is and promises to
be, the lookout is encouraging. There
are depreciations to be encountered-there
may be losses. But the foundation has
been secured, and every day is doing much
to strengthen the superstructure. The
knowledge of this is SO diffused and ac-
credited that confidence is ready to inn
prove the opportunity. And thus those
prognostics that foreign and by no means