The New York herald., 1871-02-08

taking the foregoing figures as an indication OF
the result of the years trade, we fear cannot
gard II as satisfactory An increase to the extent
OF twenty-five per cent in failures as compared with
1869. and thirty three per cent as compared with
1858, indicates want OF success not only as applied
to individuals but must more or less represent the
general success or traders throurhout the cOu atry
II would perhaps, be unfair 10 regard these figures
as all entirely accurate representation OF the Condt.
closely examined. the failures IN individual In
stances much more frequently the result OF indi-
vidual indlscreL,ons N smanageMelt Or dishonesty
than the result OF any widcsp spread condition or OF
class OF circumstances OF general application. But
whcli has been added TO me general wealth Of the
mercantile community by The years. transac,
Is se eat set ns a, ae one ear neh eas 1nIs
surplus has been seriously impaired; nor. tue
other hand has IL been much augmented. 1t may be
doubted whether the debtpaying power OF BUYERS
has been increased. The assets OF the community
are certainly w not II a,xaa as arl asaaos shpe as
OF credit which were tightly drawn during
the war and for year or Two subsequent to It's
the Wholesale dealer, but from the retailer 10 lie
consumer; and II careful examination could be mad
of the condition OF the majority OF traders IL would
he discovered that .outsssndingsn formed much
larger portion OF the assets OF the community
inat the great bulk of the years profits are In
tnls shape and though 1t yrdaG,uI, Gy no means fol;
doubtful value, there is no denying the fact that
rnis description or asses Is nGcn more liable to
These @ Two san n, any others s, wch nae
tlOAs In values have III the man been OF a down.
ward character, sympathlzing with the decline in
gold, the result OF over production and DIS
position apparent en- every hand towards over
trading, ~ that although the year has not been .
disastrous one the general conclusion Is inevitable
that II has not been entirely successful The year
has certainly addel to the material wealth OF
In almost every State, Of important Interests
the opening up of numerous avenues Of intercom.
variety OF products that have been secured together
with the generally active condition OF manufactnr-
year 1870 may be counted one not the least avor-
able to tho steady progress OF The country;
class it is much to he doubted wnetoer they
are any salcr 10 sell on credit than they we're
decrease n cost Of living have not kept pace with
the decline In profits or with the increased risks OF
business =, II these conclusions M are correct y y
, IN the business Of the country the prophecy
that each decade Will witness o crisis may
have iulhiment. IL must bo admitted that tho
capital employed. IN business IS in larger pro.
portion to ITS It's volume than at any previous year
aSa,ssa dac,atsd BY .,,,p popular uniform ana
Gallon and transportation and the developments
OF numerous resources all point to an improved
BILE to deny that Notwithstanding all these adj
vantages there are TWO or three elements
oyer-trade. before referred to, is everywhero
apparent. In almost every sectioa OF the
selling goods Is in excessive proporiion to the
number bnying them; and the profits in every do
partment OF commerce are shaved down to the low.
est possible point, while expenses everywhere and
for everything are excessive Tie general habit or
the community Is st that OF eXtravag agance-one OF
the worst herltaQeS OF the war-while q dangerous
expansion OF credits Is not improbable unless closely
guarded against. These elements, insidious ana III
the end disastrous, If allowed to influence the trade
OF the country In the same growing proportion as
they have been allowed to manifest themselves in
the last TWO years. Will soon be apparent in the In
creased NUMBERS OF failures: and at the risk Of
favorable criticism, we venture to call the attention
OF our subscribers to their Importance.
The following comparative statement OF failures
Is incomplete. owing 10 the war IN 1925; bat the
hgurcs Ior the Northern States ana for the whole
Union before ana subsequent to these years are in
terestin2.